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Submitted BY NANCY DREWE on 2011/11/03 at 11:34 am

CASHIER CHECK COMES FIRST
INDENTURE TRUSTEE C/O SHELF COMPANY AND
INDENTURE TRUSTEE C/O TRUST WHO GOT CASH

BORROWER SIGNS PROMISSORY NOTE PROMISING TO PAY INSTEAD OF GRANTOR #1 IN EVENT GRANTOR#2 BORROWER BARRY FAGAN DOES NOT PAY, INSURANCE COVERS DEFAULT ATTENT AT CREATING GOOD TITLE AND RESELLING PROPERTY TO SATISFY DEFAULT OF CURRENT PAYMENT. BARRY IS THE ANNUNITY PAYMENT TO THE TRUSTEES WHO DISTRIBUTE THE PAYMENTS TO THE INVESTORS ‘CERTIFICATE OWNERS/HOLDERS’

WELLS FARGO BANK, N.A. SIOUX FALLS SD – INDENTURE TRUSTEE
TD SERVICE COMPANY, ON CLOUD, DOCUMENT PROCESSING COMPANY. SUBSCRIBER MUST HAVE MEMBERSHIP TO DOCUMENT PROCESSOR, AND MERS TITLE EXCHANGE C/O QUALIFIED INTERMEDIARY ‘GRANTEE’ MUST BE MERS FOR LIFE OF LOAN, THEN GOOD TITLE ISSUED ‘TITLE COMMITMENT’ AND APPRAISAL AS NEEDED BY AGENT OF ‘WFHM’ DBA ‘RELS TITLE ALSO KNOWN AS ATI TITLE’ IN STRATEGIC PARTNERSHIP WITH FIRST AMERICAN EXCHANGE CO, QUALIFIED INTERMEDIARY AND 1031 EXCHANGE IPXCO, OREXCO – OLD REPUBLIC EXCHANGE CO FOR -INSTITUTIONAL TRUSTEES ISSUED ORIGINAL ‘LENDERS POLICY’ KICKS IN DURING A DEFAULT, GETS GOOD TITLE – ALL EXPENSES BILLED C/O FIRST AMERICAN TITLE TO ‘WFHM’ RELS TITLE AKA ATI TITLE AKA NORWEST MORTGAGE, INC. AKA GMAC MORTGAGE COMPANY OF IOWA, AKA GMAC MORTGAGE COMPANY OF PENNSYLVANIA.

WFHM ‘RETAIL’ IS RELS TITLE AKA ‘ATI TITLE’ IN STATE OF IOWA, WELLS FARGO HOME MORTGAGE, INC. MERGED OUT OF EXISTENCE INTO TRADENAME ‘WELLS FARGO BANK NA’ MEANING ‘AFFILIATE’ OF

ANY SERVICER MAY BE AN AFFILIATE OF ‘WFHM’ OR WFB

WELLS FARGO SERVICING CENTER (WLLS)
HOME EQUITY
PAYMENT PROCESSING B6955-01
WELLS FARGO REVIEW INSURANCE SERVICING CENTER
http://www.insuranceservicecenter.com
Phone: (800) 433-8790 Fax: (952) 833-9423
PO Box 31557, Billings, MT 59107
http://www.insuranceservicecenter.com

PO BOX 31557, BILLINGS MT 59107
REQUEST FOR HOME EQUITY MODIFICATION
KEEP ORIGINALS FOR YOUR FILE
WELLS FARGO BANK NA FDIC ATTEMPT TO COLLECT A DEBT FORM. FAX 866-593-3578

NOTICE: Norwest Mortgage Inc. owns ATI Mark dba
RELS TITLE SERVICES , LLC
ONE HOME CAMPUS, DES MOINES IA 50328
NOREWEST MORTGAGE
MAC X2401-06T
‘ASSIGNOR’ OWNS ENTIRE RIGHT, TITLE AND INTEREST IN AND TO THE MARK ‘ATI’

RELS TITLE SERVICES, LLC, Jurisdiction DELAWARE a LLC, PRINCIPAL OFFICES
1 HOME CAMPUS DES MOINES IA
‘ASSIGNEE’ ACQUIRES ENTIRE RIGHT, TITLE AND INTEREST TO ‘ATI’ MARK.
12/15/1998 NUNC PRO TUNE 1/17/2002
September Wethington-Smith. Senior Counsel. Wells Fargo AVP

‘ASSIGNMENT’ DOCUMENTS RECORDED
MERS TITLE EXCHANGE
GRANTEE FOR LIFE OF LOAN MERS

Recording Requested by Wells Fargo Bank NA
Document Management Company
TD SERVICES (CLOUD)
C/O FIDELITY NATIONAL (NORWEST CORP PARENT 1998)
ASSIGNMENT
SHORT TITLE OF FUTURES CONTRACT
ONE MUST BE A DOCUMENT SUBSCRIBER TO ORDER DOCUMENTS
TD SERVICES DBA
TD ESCROW SERVICES subsidairy of TD FINANCIAL
TRUSTEE AMERICAN SECURITIES COMPANY
TD SERVICES (SUBSCRIBER FOR TRANSACTIONS)
Wells Fargo Bank NA
PO Box 31557
MAC B68955-015
Billings MT 59107-9900
Account 650-650-5825534-1XXX
Short Form
Deed of Trust
Reliance on Good Title c/o Qualified Intermediary
Local Agents issue Title Commitment Letter
‘GOOD TITLE’
c/o WFHM ‘AFFILIATE’
DBA RELS TITLE or
ATI TITLE Agent, Distributor, Broker, Dealer

The 1031 (QI) QUALIFIED INTERMEDIARY SERVICERS
Contractural Arrangement
RELIANCE ON GOOD TITLE
DURING DEFAULT ‘LENDERS POLICY KICKS IN’
BORROWER PAID FOR POLICY
PROTECTS ‘LENDER’ DURING TITLE ASSIGNMENT AND LITITATION UP TO ‘FIXED PERCENT’
PARTY BEFORE COURT PAYING BILLS WILL BE
QUALIFIED INTERMEDIARY SERVICER
RELS TITLE STRATEGIC PARTNERSHIP FIRST AMERICAN EXCHANGE COMPANY

MERS as Grantee Life of Loan to convert leaseholds proceeds back into fee simple held in trust

PROCEEDS OF SALE ‘WHATEVER INSURANCE OPTION SELECTED BY INVESTORS’ HELD IN TRUST UNTIL GET GOOD TITLE

Who is holding proceeds in trust?
Where is copy of your Lenders Policy?
Example of Lenders Policy Squid – “MERS TITLE EXCHANGE’
OR OREXCO ISSUED THE LENDERS POLICY

FORECLOSURE ASSIGNMENT EXECUTED
FIRST AMERICAN TITLE BILLS SUBMITTED BY FIRST AMERICAN TITLE TO ‘WFHM’ FOR LOAN MITIGATION P670 PROPERTY REPORT IS AN INVESTORS REPORT. INVESTORS SAY NO.
QUALIFIED INTERMEDIARY BILLING WFHM DBA RELS TITLE & SETTLEMENT SERVICES ‘AGENTS’ FOR OREXCO?

MERS TITLE EXCHANGE
GRANTEE FOR LIFE OF LOAN
LOAN IS AN (Annunity)

AMERICAN SECURITIES COMPANY
PARENT WELLS FARGO & CO.
NOTICE: FUTURE ADVANCE CLAUSE
A FUTURES SECURITY INSTRUMENT

NOTICE:
CITY OF LOS ANGELES WAIVES FEES TO MERS MEMBERS.

I DO NOT KNOW IF RELATED TO AMERICAN SECURITIES COMPANY HOWEVER SIGNIFCANT EARNINGS
CAME UP AS SEARCH HIT COPYING CASH COW COMPANY.

AMERICAN SECURITIES LLC
LEVERAGED BUYOUT TRANSACTIONS
(52.1% ANNUAL RETURN SINCE INCEPTION IN 2008)
TOP FIVE PERFORMING BUYOUT FUNDS RAISED 2006-2008
3RD PARTY INVESTMENT MANAGEMENT FIRM SINCE 1994 PRIVATE EQUITY INVESTMENTS.
LONG-TERM EQUITY PARTNERS
American Securities LLC and its affilaites
RESOURCES GROUP
We strive to maintain the highest personal and corporate ethics through honesty and fair dealing.
We aim to be respectful in all of our interactions.
We are dedicated to a true partnership with the men and women who run the businesses in which we invest.
Our focus is always on the long-term interest of the companies, management teams and investors we serve.
We can only succeed through hard work, rigorous analysis and continually building our human capital.
We always try to have fun while remaining ever mindful of our responsibilities and principles.
We seek to make the world a better place by giving back to the communities in which we live and work.

AMERICAN SECURITIES COMPANY
SUBSIDIARY OF WELLS FARGO & COMPANY
‘NORWEST MORTGAGE, INC.’
RENAMED GMAC MORTGAGE COMPANY OF IOWA, RENAMED GMAC MORTGAGE COMPANY OF PENNSYLVANIA.

1985 NORWEST CORP
PARENT OF RESIDENTIAL FUNDING CORPORATION

GMAC & NORWEST SERVICERS NATIONWIDE AFFILAITES OF

LENDER: WELLS FARGO BANK, N.A.
INDENTURE TRUSTEE
JUNE 1998 REPLACED ‘GMA’

WFB INDENTURE TRUSTEE FOR:
WILMINGTON TRUST COMPANY (AT THE TIME)
WILL INCLUDE ALL ACTIVE S-3 AND S-3/A
REGISTRATIONS UNDER
RESIDENTIAL FUNDING CORP

MAXIMUM OBLIGATION $1,000,000.
PROMISSORY NOTE 5/24/2047 NEW MATURITY DATE OF ‘SECURED DEBT’ 5/24/2047.

GRANTOR AGREES
‘FICTITIOUS DEED OF TRUST’
THIRD PARTY RIDER
‘SECURITY INSTRUMENT’ 5/25/07
2/1/1997 RECORDED 2/6/1997

THIRD PARTY RIDER:
BARRY FAGAN DEBTOR – GRANTOR –
TO WELLS FARGO BANK NA, INDENTURE TRUSTEE FOR WILMINGTON TRUST COMPANY.

3RD PARTY MORTGAGE / DEED OF TRUST
SECURES NOTE OF DEBTOR TO LENDER.

BORROWER REFERS TO ‘TRUSTEES’
SECURED DEBT OBLIGATIONS OF TRUSTEE PRIOR TO TRANSFER OF PROPERTY TO TRUST
TRUST AND TRUSTEE NOT LIABLE FOR DEBT EVIDENCED BY NOTE
PARTY AS TO INTEREST IN PROPERTY SUBJECT TO SECURITY INSTRUMENT.
PARTY RIDER (WF), CDP, V1 (06/2004)
TRUSTEE BARRY FAGAN.
FORM SETUP FOR 7 TRUSTEES
THAT IS IN LINE WITH P309 SCREENS WHERE BORROWER’S PAYMENT DISTRIBUTED TO 7 TRUSTEES EACH RECEIVE THEIR PERCENT OF THE PAYMENT.

BARRY FAGAN DEBTOR2, GRANTOR2, TRUSTOR2,
WELLS FARGO BANK DEBTOR1, GRANTOR1, TRUSTOR 1
‘WFB’ NOTE SOLD TO CONSUMER AS BORROWER BARRY FAGAN DOES NOT KNOW AFFILIATE SHORT TERM INVESTMENT HAS RIGHT TO FORWARD SELL DEBT.

MERS TITLE EXCHANGE FOR LIFE OF LOAN (ANNUNITY)
GRANTEE – TRUSTEE – BENEFICIARIEE
AS LONG AS MERS TITLE EXCHANGE TRADING ASSIGNMENTS THE ‘CURRENTY’ IS NOT INSURED FEE SIMPLE, THE TRANSACTIONS ATTACHED LIKE REMIC IS NOT INSURED ONLY WHEN REPURCHASE BY DEBTOR#1, GRANTOR#1, TRUSTOR#1 WILL ASSIGNMENT RECORDED ONCE AGAIN IN LAND RECORDS AS NOTICE OF DEFAULT AND ATTEMPT TO ATTACH NEW ASSIGNMENT TO EQUITY IN PROPERTY FOR ALONG WITH ASSIGNMENT COMES ‘PROCEEDS OF SALE’ HELD IN TRUST C/O INSURANCE COMPANY. INSURANCE COMPANY, WILL WAIT FOR INSTRUCTIONS REGARDING INSURANCE OPTION OVER 60 DAYS – OPTIONS INCLUDE CONVERTING INTO LUMP SUM PAYMENT, LENDERS POLICY ‘COPY UPLOADED ONTO SCRIBD’
OLD REPUBLIC LENDER POLICY PROTECTING GRANTOR DURING NEW ASSIGNMENT C/O MERS TITLE EXCHANGE INVOKED BY PSA, LENDER – GRANTOR – TRUSTOR – PROMISED GOOD TITLE RELIANCE ON GOOD TITLE IS WHAT MAKES FINANCE UNIVERSE TICK – WITHOUT MERS TITLE EXCHANGE THE TRANSACTION WOULD NOT BE TURNED BACK INTO US DOLLARS TO BE TREATED IN ACCORDANCE WITH FEE SIMPLE…
.
REFERENCE: 20071237500516
ACCOUNT 650-650-5825534-1998
NAME MISSING IS ‘RELS TITLE’ OR ‘ATI TITLE’
GRANTOR, DEBTOR TO LENDER

DECLARATION OF CUSTODIAN OF RECORDS
RONSIN
215 S LEMON CREED DR
WALNUT CA
REGISTERED LOS ANGELES COUNTY #X00003
KUTAK ROCK, LLP
ROBERT D. ALKEMA, RONSLIN PHOTOCOPY
EXECUTED 10/13/2011 IRVINE CA S.THOMPSON

WELLS FARGO BANK NA
BENEFICIARY STATEMENT 5/9/2011
PAYOFF DEMAND

SMARTFIT HOME EQUTIY ACCOUNT AGREEMENT DISCLOSURE STATEMENT
SHORT FORM DEED OF TRUST (FUTURES CONTRACT)
SUBSTITUTION OF TRUSTEE

TRUSTOR ‘DEED OF TRUST’
BARRY FAGAN TRUSTOR
WFB NAMED AS BENEFICIARY
AMERICAN SECURITIES COMPANY AS TRUSTEE 7/9/2009
PROMISSORY NOTE SECURED BY ‘DEED OF TRUST’
WHERE IS DEED?
SELLER OF NOTE & BUYER OF NOTE C/O CASHIER CHECK ISSUED DURING SECRET CLOSING PRIOR TO BARRY FAGAN SIGNING LOAN PROMISSORY NOTE.

CASH CAME FIRST TO CREATE NOTE. NOTE WAS CREATED INTO LOAN AND SOLD TO BARRY FAGAN AS A FUTURES CONTRACT

LEASE SECURITIES FURTURES CONTRACT RENTING PROPERTY BACK TO BARRY

DOCUMENTS SOUDN WRITTEN MAKING ‘BARRY’ RESPONSIBLE FOR THE THIRD PARTY GRANTOR ‘NAME MISSING FROM DOCUMENTS’ OR IS INDENTURE TRUSTEE – WILMINGTON TRUST CO LIABLE AND REASON WENT BANKRUPT?

PROTECTIVE ORDERS INVOLVED WHEN ‘MASTER BAILEE LETTER’ NEEDS TO BE DISCLOSED.

CASHIER CHECK COMES FIRST
INDENTURE TRUSTEE C/O SHELF COMPANY AND
INDENTURE TRUSTEE C/O TRUST WHO GOT CASH

BORROWER SIGNS PROMISSORY NOTE PROMISING TO PAY INSTEAD OF GRANTOR #1 IN EVENT GRANTOR#2 BORROWER BARRY FAGAN DOES NOT PAY, INSURANCE COVERS DEFAULT ATTENT AT CREATING GOOD TITLE AND RESELLING PROPERTY TO SATISFY DEFAULT OF CURRENT PAYMENT. BARRY IS THE ANNUNITY PAYMENT TO THE TRUSTEES WHO DISTRIBUTE THE PAYMENTS TO THE INVESTORS ‘CERTIFICATE OWNERS/HOLDERS’

WELLS FARGO BANK, N.A. SIOUX FALLS SD – INDENTURE TRUSTEE
TD SERVICE COMPANY, ON CLOUD, DOCUMENT PROCESSING COMPANY. SUBSCRIBER MUST HAVE MEMBERSHIP TO DOCUMENT PROCESSOR, AND MERS TITLE EXCHANGE C/O QUALIFIED INTERMEDIARY ‘GRANTEE’ MUST BE MERS FOR LIFE OF LOAN, THEN GOOD TITLE ISSUED ‘TITLE COMMITMENT’ AND APPRAISAL AS NEEDED BY AGENT OF ‘WFHM’ DBA ‘RELS TITLE ALSO KNOWN AS ATI TITLE’ IN STRATEGIC PARTNERSHIP WITH FIRST AMERICAN EXCHANGE CO, QUALIFIED INTERMEDIARY AND 1031 EXCHANGE IPXCO, OREXCO – OLD REPUBLIC EXCHANGE CO FOR -INSTITUTIONAL TRUSTEES ISSUED ORIGINAL ‘LENDERS POLICY’ KICKS IN DURING A DEFAULT, GETS GOOD TITLE – ALL EXPENSES BILLED C/O FIRST AMERICAN TITLE TO ‘WFHM’ RELS TITLE AKA ATI TITLE AKA NORWEST MORTGAGE, INC. AKA GMAC MORTGAGE COMPANY OF IOWA, AKA GMAC MORTGAGE COMPANY OF PENNSYLVANIA.

WFHM ‘RETAIL’ IS RELS TITLE AKA ‘ATI TITLE’ IN STATE OF IOWA, WELLS FARGO HOME MORTGAGE, INC. MERGED OUT OF EXISTENCE INTO TRADENAME ‘WELLS FARGO BANK NA’ MEANING ‘AFFILIATE’ OF

ANY SERVICER MAY BE AN AFFILIATE OF ‘WFHM’ OR WFB
AS LONG AS THEY HAVE A COMMERCIAL CREDIT LINE AND
FOLLOW QUALIFIED INTERMEDIARY CONTRACTURAL ARRANGEMENT ‘GRANTEE MUST BE MERS FOR LIFE OF LOAN’ SINCE 1997 FULLY DOCUMENTED IN PUBLIC DOMAIN BY CHICAGO TITLE JULY 1997.

EBERT APPRAISAL SERVICES, INC. IS AN AGENT
LOCAL TITLE AGENCY GIVES GOOD TITLE COMMITMENT LETTERS BASED UPON ‘MERS TITLE EXCHANGE’

COPY OF CASHIER CHECK WILL REVEAL
NAME OF INDENTURE TRUSTEE WHO TAKE CASH FROM TRUST A AND PASSED TO INDENTURE TRUSTEE OF TRUST B
BORROWER DID NOT KNOW THERE WERE 2 BORROWERS HIM AND WELLS FARGO BANK NA INDENTURE TRUSTEE DBA WILMINGTON TRUST CO.
BORROWER 2 CONSUMER PROMISES LONGTERM PAYMENT OF ANNUNITY FOR FULL AMOUNT
SEPARATE AGREEMENT EXISTS FOR BORROWER 1 WHO SOLD NOTE TO CONSUMER. BOTH PASSED TO CONDUIT 60 DAYS LATER C/O MASTER BAILEE LETTER

REASON FOR PROTECTIVE ORDER NOTICE

MASTER BAILEE LETTER REVEALS
‘DEUTSCHE BANK’ SALE OF NOTE
‘WELLS FARGO BANK NA’ LOAN – BORROWER NAME LOAN# LOAN$

DURING DEFAULT REPURCHASE RIGHTS WITH BORROWER #1, WELLS FARGO BANK NA AS WILMINGTON TRUST CO AND REAONS WTC WENT BANKRUPT!

EXAMPLE OF REAL CASHIER CHECK UPLOADED TO SCRIBD

11 Responses

  1. Left message with LuminaQ and emailed for help. Please someone call or respond to this message with a phone number I can call.

  2. Title company will not admit that the funds came from a third party, this would make them an accessory. You will also need to get a copy of the closing instructions from the title company. The closing instructions tell the closing agent where to send any access funds if any. This will be the same party that funded your loan.

    Regarding the warehouse line of credit. If you were to take our a line of credit be it personal or home equity line of credit. When you write a check out of this line of credit does the bank issue the check in their name or do you have to write the check out of your own account. Would it be nice if we could just call up the bank and tell them to write checks for us in their name. It is the same premise for wire transfers.

    Look up the definition of mail fraud, wire fraud and bank fraud. The way these loans were funded will match these definitions.

  3. Annunities – we were the annunity promise to pay full amount amoritized out.

  4. “Pretend” mortgages “packaged”.

  5. ‘ASSIGNMENT OF MORTGAGE’ EXECUTED AND RECORDED.

    THE ASSIGNEE THEN TAKES POSSESSION OF THE ORIGIANL MORTGAGE AND NOTE.

    ENDORESED TO ITS ORDER

    OR STATUTORY VERBIAGE ‘INDORSED.’

    HIGH FINANCE NOT A FORM THAT IS SEEN.

    MORTGAGE ORIGINATOR MAKES HUNDRES OF LOANS AND ASSIGN THEM AS COLLATERAL TO BORROW MONEY FROM BANK

    ‘MORTGAGE WAREHOUSE FACILITY’

    ‘BORROWED MONEY’ USED TO ORIGINATED MORE MORTGAGES.

    MORTGAGE WAREHOUSE ONLY TEMPORARY.

    MORTGAGES TRANSFERRED FROM 1 FACILITY TO ANOTHER (CREDIT FACILITY 11 BANKS ‘LAWYERS TITLE CORPORATION’ – MERGER RELIANCE FINANCIAL – NORWEST CORP 1997. IS THE ‘CLEARING HOUSE’

    WHEN MORTGAGE ORIGINATOR ‘DBA’ WFHM (FOR 11 BANK CREDIT FACILITY) OR DBA (CHASE) OR (GMAC) …OR

    WHEN MORTGAGE ORIGINATOR ‘SUFFICIENTLY LARGE POOL OF MORTGAGES, IT MAY PERMANETLY ‘SECURITIZE’ THEM BY ASSIGNING THEM TO A NEWLY FORMED COMPANY ‘REMIC’ OR ‘LLC’ THAT ISSUES SECURITIES THAT ARE THEN SOLD TO INVESTORS ‘CERTIFICATE HOLDERS’.

    IN THE END THE COMPANY OWNS THE MORTGAGES.

    THE INVESTORS RECEIVE PAYMENTS ON THE SECURITIES

    SECURITIES ARE BASEDON COLLECTIONS FROM MORTGAGE POOL.

    MORTGAGES EFFECTIVELY PACKAGED AS SECURITIES.

    SECURITIES MORE EASILY TRADED THAN CAN ‘INDIVIDUAL’ MORTGAGE CAN BE.

    HENCE NAME ‘SECURITIZATION.

    http://www.floridabar.org/DIVCOM/JN/JNJournal01.nsf/8c9f13012b96736985256aa900624829/a81638f11642ffb385257936004a8c29%21OpenDocument

  6. So I have an ABA wire from First Collateral Loan Services (FCLS a division of Citigroup) that funded the escrow account, and copy of the Title companies cashier’s check to WAMU allegedly paying off a HELOC with these funds. The originator admits that FCLS funded the escrow but will not admit it was a third party transaction. Deposition examination being scheduled to allow the originator (creditor on note) to explain the apparent third party funding.

    In discovery, I anticipate the originator will claim that the funds were their’s since it was their credit line, thus sidestepping the third party funding problem, and allegations that they have no money in the transaction.

    Comments?

  7. nancy
    the info would be useful if ;
    1- there was a legend to id the parties.
    2-to id the transactions.
    3-to id the intent [this may be self-explanatory ] if THE other parties have been identified .

  8. How do I use this info?

  9. @Scot

    I cannot thank you enough for clarifying this. I shall send this to my congressman with your explanation. Thank you again!

  10. Send this to your congressman or woman and to your state legislatures. I just did.

    This document is a little difficult to understand if you are not familiar with the process. This document shows that the banks knew what they were doing. That there was more than one transaction at the closing that the homeowners had no clue of the other closing and that the bank listed as the lender on the homeowners note and mortgage never lent the money. If they never lent the money there was never a meeting of the minds and in order for a contract to be valid and perfected there must be a meeting of the minds. Since the bank did not lend the money as written in the note the lender did not up hold their part of the contract. This being the case the contract, (note) is not perfected if the note is not perfected than the lien, (mortgage) is not perfected. The (lien) mortgage is void and the bank cannot LEGALLY foreclose Monies were lent but not by the bank listed on the note or mortgage. The transaction between the homeowner and the real lender was never recorded. But the transaction between the money source and the bank is recorded. This transaction has no mention of any homeowner or and property address.

    This document also shows that the bank is responsible to pay the real lender in case the homeowner goes into default and that the bank has taken out insurance policies to protect themselves if this should happen. What this document does not tell you is that the banks did not just take out one policy to cover the amount of the loan they took out 10, 20, 30 policies or more for full value of the loan that would pay the bank in this case 30 times the loan amount. A $100K the bank make $3M and they still did not pay the real lender. This is why the real investors are suing the bank. This is how the master servicer could in theory pay the end investors. Yet the banks chose not to pay anyone and than they have the audacity to foreclose on the homeowner. The last time I checked in order for someone to bring suite against another in court they must show damage.

    Lets see now. The bank told the homeowner they were the party that lent the homeowoner $100K which can be proven they never did. They may have underwritten the loan in such a way that they knew there was a high probability that the homeowner would go into to default most likely they bank lied about the homeowners income just to make the loan work. Because the bank knew their was a high probability the homeowner would go into defualt the bank took out insurance policies to not only cover the full amount the loan but multiple times the amount of the loan. In this case the bank received $3M for a $100K loan that the bank never made except on paper. The note and mortgage that was never perfected. So I ask you were is the damage to the bank.

  11. Neil, I think you lost track of the concept…
    You’re supposed to be informative to ALL of us. Not just some elite who writes in code (and very poorly, at that…)

    @Carie,

    Nancy wants to talk to you! Actually, she left you 3 posts. Have a fabulous day!

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