Livinglies's Weblog

You’re not lost, but it IS possible that our emails to you went into your junk mail. To summarize past correspondence —

• The $149 was a subscription fee allowing the discounted purchase of a securitization report.
• We discovered that we needed a LOT of information from the customer in order to locate the loan because of all the steps the banks had taken to hide them.
• So we created a form requiring information that the customer had to fill out. Some customers filled it out and we were able to find their loans. Others balked at the length of the form, even though we were not charging anything for processing the form. Securitization Search Registration Form
  
• We found that we could complete the securitization search if the customer ordered our loan specific title report which does a public records search of the county recorder’s office in which the property is located, produced a detailed report in which the loan status etc. was given (information beyond a title report), copies of the relevant documentation, and a commentary on the title records with implications for securitization. Some customers reported that their lawyers were satisfied to go ahead with just the loan specific title report. ($349) LOAN SPECIFIC TITLE SEARCH
• Most customers purchased the loan specific title report instead of filling out the form.
  
• THEN we reported back if we were able to locate the pool, pools or group(s) of pools claiming to have ownership of your loan(S) [each loan requires a separate search, but most people only order search on first mortgage]
• THEN IF WE FOUND THE POOL, THE CUSTOMER IS DIRECTED TO COMPLETE THE PURCHASE OF THE SECURITIZATION SEARCH, REPORT AND COMMENTARY. COMPLETION OF SPECIAL OFFER SUBSCRIPTION FOR SECURITIZATION SEARCH BUT THE PURCHASED IS BLOCKED UNTIL YOU GET NOTICE WE FOUND IT.
• So to summarize, your current status, as indicated below from the store is that you have subscribed to the service, and you have several options. One is to fill out the form, which we think you won’t like and frankly neither do our IT people. Another is to purchase the loan specific title search, copies, and commentary. And either way you will get a report back as to whether we found your loan in a pool and you will then be able to complete your purchase of the special offer at $495.

Filed under: foreclosure |