DEVELOPER-TRUSTEE CONFLICT OF INTEREST and LOANS VIOLATING SECURITIES LAWS

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary

ROBO-SIGNING REVEALS ROBO-APPROVALS OF LOANS

The inability of the borrower to repay was a known fact. The willingness to give him the money came from the securitization scheme (fraud) that induced investors to advance money for “quality” mortgage pools, combined with the fact that those who “approved” the loan (but who were violating the terms of the securitization documents every time they did so) had no risk, and were merely paid to robo-approve loans once the descriptions of the loans were “massaged” into the appearance of real loans.”

FROM BRIAN DAVIES

Editor’s Note: A few weeks ago I started the investigation of the developers as co-conspirators in the mortgage mess. The deeper we dig the more central they become. The appraisal fraud lays the foundation of the deception of the borrower/investor. The one and only place where there was total control over the appearance of price rises was in developments offering new homes for sale. By enlisting the developers as co-venturers in the securitization scheme, the developers could literally and did literally create the appearance of rising prices — which was supported by unethical appraisers willing to validate the use of the developer’s asking price and an index of value.

In this way the homeowner or prospective homeowner was lulled into believing that the property was worth more than the loan when in fact the loan principal was far higher than the real fair market value of the property. The developer, not content with merely making a higher profit on the sale of homes, also received kickbacks or “sharing” of yield spread premiums, fees and outright payoffs for creating mortgage brokerage on premises that made things look bona fide when in fact the game was fixed.

The role of the developers in creating the illusion of rising prices in a rising market naturally affected the entire market including re-sales, and refinancing. But had the developers refused to play or had the appraisers refused to put their careers on the line, the “market” would never have been perceived to be rising. That perception was the the key ingredient in inducing people to get into loans they knew they could not afford to pay when the payments reset down the road.

It was the sales pitch that they could either flip the property or flip the financing and receive even more money. In other words, the idea of making a quick buck with no money down or very little money down came from the vendors of the securities masquerading as “loans.” The buyer of the financial product (security) was induced to purchase because of the promise of passive gains resulting from his purchase of this “loan” product.

That is a security and it is also a violation of the securities laws to issue such securities (“loans”) and a violation of the requirements for registration and selling them without full disclosure that on Wall Street would be required to ANY buyer of such a security but on Main Street was skipped because of the illusion of a loan transaction. Everyone knew this was not a loan, in the sense that it could be paid by the so-called borrower. The facts were right there in front of them. The payments would reset to an amount exceeding the borrower’s annual income.

The inability of the borrower to repay was a known fact. The willingness to give him the money came from the securitization scheme (fraud) that induced investors to advance money for “quality” mortgage pools, combined with the fact that those who “approved” the loan (but who were violating the terms of the securitization documents every time they did so) had no risk, and were merely paid to robo-approve loans once the descriptions of the loans were “massaged” into the appearance of real loans.

LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL

EVERYONE SHOULD LOOK AT THE DEED OF TRUST INSTRUMENT FOR CONFLICTS OF INTEREST. IN MY CASE LENDER WAS BUILDER SUBSIDIARY UNIVERSAL AMERICAN MORTGAGE OF CALIFORIA, THE TRUSTEE WAS UNIVERSAL AMERICAN MORTGAGE COMPANY LLC THE PARENT OF THE FORMER AND SUBSIDIARY OF THE BUILDER. NOW THE NOMINEE MERS WAS AN AGENT OF THE ORIGINATOR. DOES ANYONE THINK THIS IS NOT CONFLICT? THIS MONOPOLY ALLOWED FRAUD TO OCCUR. THROW IN MERS AND A HOMEOWNER HAS NO CHANCE. NOW PUT THE JUDGES WHO GET ELECTED BY MONEY FROM THESE SAME PLAYERS AND THEIR ATTORNIES.

THE TITLE AND ESCROW IN MY CASE—OWNED
THE INSURANCE OWNED.
KICK BACK FROM A MELLO ROOS TAX $12,000 PER LOT.
UNDERWRITING DESIGNATED TO UNIVERSAL AMERICAN MORTGAGE.
TABLE FUNING DONE BY WAREHOUSE COLONIAL BANK WHO WAS JUST PUT OUT OF BUSINESS AND THE WAREHOUSE LINE MANAGERS CHARGED WITH FRUD.
THE ALLEDGED SECOND BUYER OF SERVICING AND THE NOTE WAS OPTEUM FINANCIAL. THIS GROUP IS THE ONE ON SEC FILES THAT HAD THE COLONIAL BANK WAREHOUSE LINE. THERE IS AN EXTRA YIELD SPREAD PREMIUM TO UNIVERSAL.
UNIVERSAL SUPPLIED THE INSURANCE WHICH NAMED THEM THE BENEFICIARY.
UNIVERSAL USED REAL ESTATE AGENT AND CALLED THEM LOAN ADVISORS. THAT CAUSE THE CALIFORNIA CORPORATION TO LAUGH WHEN I ASKED WHO REGULATED LOAN ADVISORS.
LENNAR, THEIR LENDERS UNIVERSAL HAD MEETINGS TO PUSH THE LOANS TO CLOSE.
THESE MEETINGS I HAVE DOCUMENTED AND THEY STARTED WITH FANCY FOOD AND ENDED A FEW MONTHS LATER WITH STALE DOUGHTNUTS AND THEN NOTHING.
TITLE AND ESCROW WAS LENNAR.

THE APPRAISER WAS THE ONLY OUTSIDER. AS A LOAN ADVISOR STATED TO ME ” OUT OF THE 70% STEERED LOANS I USED JUST A FEW APPRAISERS. WHEN ASKED WHY?????
“THEY ALWAYS CAME IN AT THE PRICE I NEEDED!!!”

http://www.scribd.com/doc/43649480/Conflict-of-Interest-in-the-Deed-of-Trust-The-Trustee

CRUEL HOPE

http://www.scribd.com/doc/26461646/Cruel-Hope-the-stories-of-predatory-lending-lennar-universal-american-mortgage-companyB.DAVIESMD@GMAIL.COM

10 Responses

  1. Remedy is sue well try to…I tried everything else first. Had no other option since they took everything I had hoped to have and now i’m not ignorant of the facts and after they took my roof over my head I’m not afraid because they can’t take anything materially from me which all they are interested in but what they didn’t bargain on is I’m not after a free house per se it’s more about what’s right and that will I be able to live eith the decision to fight or not to fight. I ask you how can we not think about it even if we are few it’s so important to stand up for what you believe is righ. I can’t give you advice but I am willing to share what I’ve learned and I do believe still it’s fraud in the inducment of the contract whether it will win your case is another matter ….. My story is awful I was used badly my best freind at the time as involved not feeling sorry for myself just know that in the ” real estate business” there seems to be no boundaries nor depths to which people will dink to justify a ” living”

  2. Deb, I would be interested in knowing what you are doing to remedy what happened to you. Your story sounds very similar to mine.

  3. Some Inspiration: Remember why we fight !

  4. Try pleadin a ponzi scheme….Lol.

  5. Thankyou this is the direction I’m heading. Those guys saw me coming and took everything I had plus good credit and 3 yrs plus of my life I will never surrender I will get back what’s mine what I worked hard for hope toll brothers are reading this. If the developers had not created their end of the illusion there would be no ponzi scheme.

  6. http://www.scribd.com/doc/39313232/OPPOSITION-TO-UNIVERSAL-AMERICAN-MORTGAGE-COMPANY-S-DEMURRER-TO-PLAINTIFFS-SECOND-AMENDED-COMPLAINTopp-uamc-dem-str-07-19-10

    OPPOSITION TO CALIFORNIA SUPERIOR COURT DEMURRER TO SECOND AMENDED COMPLAINT BY UNIVERSAL AMERICAN MORTGAGE COMPANY OF CALIFORNIA LENDER AND UNIVERSAL AMERICAN MORTGAGE COMPANY LLC (trustee of deed of trust, servicer, insurance, escrow, title) they kept it all in the Lennar family.

  7. http://www.scribd.com/doc/43792901/Davies-Endorsed-Copies-1st-and-Second-With-Assignments

    WHICH NOTE IS PROPERLY ASSIGNED INTO ANY TRUST. PSA SAY 30 DAYS TO ENDORSE.

  8. Great information.

    Even on existing homes, many can calculate backwards the appraised value and clearly see the massaging to fit the loan underwriting. However, by definition, an appraisal is an OPINION of value, so the appraiser has certain subjective give. The problems come when that professional opinion isn’t based on market facts, such as recent sales and location of similar homes, and the underwriter lets it go.

    My home appraised $97,000 over the sales price in 2006–just enough massage to fit the underwriting guidelines for an 80/20 loans. The appraisal was $75,000 above the Realtor’s list price, which started higher, but had taken several reductions over the year or so on the market. When our appraisal came in that high, we thought we had found a “good investment.”

    Sad to say, I can see so clearly now.

  9. http://www.scribd.com/doc/43778762/Terra-Lago-Brochure-11-10-04-AREA-1-SUNCAL-SALES-DOCUMENTS

    SALES DOCUMENTS FOR PLANNING AREA 1 IN TERRA LAGO. THERE WAS A $26,3 MILLION BOND OFFERING SIGNED BY LENNAR, SUNCAL, RYLAND TO GET THE MELLO ROOS PASSED BY THE CITY OF INDIO. THE APPRAISALS WERE SO OUTRAGEOUS IT ALLOWED THIS MASSIVE BOND OFFERING THAT ENRICHED SUNCAL (LEHMAN FUNEDED), LENNAR AND OTHERS. THIS WAS A PROFIT CENTER. SO THE PEOPLE WOULD PAY THEIR $4,000 PER YEAR FOR 30 YEARS. THIS IS CRIMINAL. THERE HAS BEEN THROUGH HARD WORK $3.7 MILLION RETURNED. THERE WERE FRAUDULENT BILLS FOR MILLIONS OF DOLLARS TO SUNCAL. IT IS NOT CLEAR WHO ELSE. I HAVE SPENT CUOUNTLESS HOURS INTO THE RESEARCH OF THIS FRAUD.

    THE 2004-3 MELLO ROOS TAX OF $26.3 MILLION. THE APPRAISAL WAS BOGUS. THEY DID NOT USE COMPS THEY USED SALES OF THE UNITS IN THE DEVELOPMENTS. THE VALUE OF THE LAND FOR DEVELOPMENT OF 635 HOME $81 MILLION. THE LAND VALUE OF 831 UNFISHED LOTS TODAY $10 MILLION. THIS WAS CRIMINAL.

    http://www.scribd.com/doc/10738315/City-of-Indio

  10. Here is the produced documents in discovery from the builder lennar’s subsidiary universal american mortgage of california, and universal american mortgage llc the trustee of the deed of trust and the servicer and the lender in several documents. Read and enjoy–pick it apart if you understand it so others may learn.

    http://www.scribd.com/doc/43687790/LENNAR-MORTGAGE-FILE-FROM-ORIGINATION-IN-CALIFORNIA-INCLUDING-OPTEUM-UNDERWRITING-AS-DELEGATED-UNDERWRITER-UNIVERSAL-AMERICAN-MORTGAGE-COMPANY

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