Discovery Tips from Abby

Discovery Tips – A summary and reminder!!

In the discovery for each link in the securitization chain there must be: a note, a purchase and sale agreement; a transfer receipt; a delivery receipt; a bond if the notes are endorsed in blank; a receipt of funds for the purchase of the note; and a disbursement of funds for the acquisition of the note.

In the very simple RMBS model, there has to be transfers from the originator to the sponsor, from the sponsor to the depositor, from the depositor to the Trustee of the Trust, and from the Trustee to the Master Document Custodian for the Trust. The MDC would have all of the documents referred to above.

10 Responses

  1. Hello Abby,

    My apologies for not getting back to you earlier…been VERY busy with all of this. I’ve pretty much investigated everything, I just need an expert to apply it to law, codes, validity, etc. I’m near Valencia, California…northeast of the San Fernando Valley and Los Angeles. I need a good one…not just one that has taken a course with no background. Thanks bunches!

  2. KJP2U
    tell me what big city you are near and I will see if I can refer you to a reputable forensic audit person (in calif)

    yes–originator would be the supposed original lender..they called themselves lender on our papers, but they are, to use Neil’s term, a ‘pretender lender’…in my case also, some very large international entities put up the money for my loan–only I never knew about it —and they put up the money even before I closed!! And, in fact, in my case, there were several concurrent ‘ghost lenders’ —I think my mortgage was sold multiple times by the loan originator (for the full loan amount) to different entities.

  3. FLASH—if you cannot find your securities trust at the SEC website, consider this:

    it could be in a “private” securities trust such as SerVertis REO Pass-Through Trust I.

    you will not find this private securities trust listed at the SEC

    this trust is not open to the public

    Many thanks for Dan Edstrom who researched with me on this trust.

    Thus, if you are not able to find the securities trust your mortgage loan may be in at the SEC website, you can try a FOIA request to the SEC& The Fed and see what comes back

    Best bet, probably discovery to try to get the information you need.

    Wonder who has investments in these private securities. Hopefully, no judges who have any foreclosure case related to the private securities trust.

  4. I have a question if anyone is out there. What does law say about shifting these slimy mbs certificates around so many times, though one unassociated party who I believe is not the party in interest.

    And does not have jurisdiction therefore standing is not part either..

    There has not been any assignments in the county clerk’s office. I mean is it not completely obvious there are scamming someone if the loan is in foreclosure and 3 years and counting I should have and would have been chasing down the architect for repairs to $100, 000. architect and subcontractor. Neek a lawyer. I have 6 years in NJ

    I feel somedays like it is killing me, my kids are not doing well not that they sit and cry all the time, but the have some heavy things goin on My son sick over it lost 20lbs in the beginning
    . My son;s grades have gone from straight As to even Fs,it hurts. it makes me feel like I am not doing my job. My children suffer and I have to stay here day after day, while they make this drab our to wear me down. I have aged.I have lost my life, but there is nothing I can do but what I am doing in trying to keep a roof over their heads and they may beet me, it won’t be out of any kindness on their end.i mah my daughter, she is scared, and she things they will send me out of the house and all our clothes and furniture. They have become angry, they ask to go to Court, one day my daughter had to come, off school early, she is very well behaved even she saw how biased the Judge was, she said Mommy why didn’t he like you? Because he was very rude.

    We litterally live like gypsies right in our homems, never knowing what will havppe next.Were we will bo and

    There are many respectible big executives, editors, CEOs just living who knows where, day to day.

    I had an idea long ago, people could trade down from a more intelligent osophiexpenwive home to a less expenwive home, the next sown boes a step down form their home

    I am so tired almost to exhaustion. I did not sleep last two nightsut for now, we have it very hard, flatbroke, I have parted with my husband,this hit him too hard, He couldn’t face it. It has been hard for him too. There are mansions in the paper near by that are going for a steal. Just my thought as for those who have committed these unconcienable acts, we have cities, all over the country, like Camden here in NJ and even Jersey City though I hear it has changed since I moved down here. They have built some beautiful buildings and such, and cut down on the drugs. It has been many years since I lived there. since many years. Camden is beginning to be worked on and it will be beautiful down the road, but all our states have cities of their own that may need a face lift. Especially lower priced neighborhood where the economic catastrophe It is a positive way we can clean up the mess they made.

    These cities a like diamonds in the rough and many abandon and unsafe. Well I am always dreaming of new ideas.

  5. Abby…When you say originator…is that the original Lender? What if the original lender was not licensed to lend in California when I signed for the loan? It ended up in a Trust in securitization before I even closed escrow.

    We really need a foresics analyst here in California as I’m hearing from many others trying to find a good one. Where are they??? Banks are foreclosing on people left and right behind their backs! It’s insane!!

  6. Wells Fargo to Restructure Second Liens

    By National Mortgage News Online
    April 22, 2010

    Wells Fargo on Wednesday promised that it would begin modifying second mortgages under a new wrinkle in the government’s Home Affordable Modification Program.

    Wells said it would modify second liens when the corresponding first mortgage also is modified. During a conference call about the banking company’s earnings, Chief Financial Officer Howard Atkins said, “We expect to begin offering the second-lien program to customers who have both a Wells Fargo first and second lien in the next couple of weeks.”

    Wells will offer the program to “other customers later in the second quarter,” he said. The CFO told analysts and investors that the bank’s $125 billion home equity loan portfolio “demonstrated some positive credit trends in the first quarter.”

    For more information on related topics, visit the following:


  7. This is the real deal in enforcement. Closed Colonial Bank. Charged BOA, the list goes on and they are on it.

    This is well written and may help in our fight for real regulation with oversight that works. Not a group like the OTS who is held hostage to groups like Onewest. They are pretender regulators. Obama is on the right track



    Case used by Ndex to say they need not have the note to foreclose. It was based on an unopposed motion for summary judgment by a California Attorney who filed too many cases and the judge was upset.

    A must read compliments from Daniel Edstrom

  9. I have all these questionable assignments and transfers, but cant they just go and untie everything and start from scratch? Does that break any California laws or bankruptcy codes if they go back and fix things? Can they transfer a assignment into a mortgage backed trust 5 years later?

Contribute to the discussion!

%d bloggers like this: