OCC Announces EverBank Agrees to Pay $37 Million to Customers, $6.3 Million to Housing Assistance Groups

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In its never-ending quest for putting distance between the Bank and the Homeowners who have been misled into thinking that Bank of America has any servicing or ownership rights over their mortgage, BOA has been transferring any mortgage they can to other entities — perhaps even paying the other entities to “take” the mortgages, which BOA didn’t own in the first place.

One such entity is EverBank which is a small thinly capitalized entity. The gimmick worked. Using the balance sheet of EverBank instead of Bank of America, the fine was probably one tenth or less than the the fine that would have been levied upon Bank of America. EverBank is getting paid to be thrown under the bus. The OCC used the EverBank Balance Sheet as a measuring stick and figured that $37 million fine for wrongful foreclosure processing was enough. If they had looked behind the curtain, which they most certainly had the knowledge about, they would have been fining Bank of America for the wrongful, illegal and immoral foreclosures.

And EverBank continues to file foreclosures that are riddled with obvious defects because they don’t have a real plaintiff, a real lender, a real loan, a real default or any real servicing rights. It is safe to say that they are so far removed from the realities of any actual transaction that it will be impossible to actually respond to discovery requests.

So I figured I would share with you some notes on a few of the cases with EverBank that you might find useful. As stated a thousand times before, do NOT use these forms or notes or anything else unless you ARE an attorney licensed in the jurisdiction in which the property is located or you consult with one.


  1. The Plaintiff is self-identified in its own attachments as a servicer which means that judgment can only be rendered for the real creditor who under Florida Statutes governing credit bids can only be the actual creditor.
  2. The complaint is in rem and does not sue on the note, so there is no basis for the deficiency demanded in the wherefore clause.
  3. The servicing rights actually never existed because they would arise from a pooling and servicing agreement for a REMIC trust that was never funded nor was it able to purchase loans, nor were such loans transferred within the time limits prescribed by the REMIC laws and the terms of the pooling and servicing agreement. Since the REMIC was ignored, the terms of the PSA were ignored, no servicer could exist except with apparent authority. It remains to be seen to whom the the payments were made after receipt of payments from the Homeowner Defendant. despite the lack of any actual legal authority for servicing rights through any enforceable agreement to which the Homeowner defendant was a party  parties variously assigned servicing rights and endorsed the unenforceable note.
  4. Generally they were transferred by BOA as successor to BAC as successor to one of several Countrywide entities none of which were the lenders, servicers, or mortgage brokers for the loan. The reference to succession is false. Countrywide changed its name to BAC for a short while, following which Bank of America falsely claimed ownership, as successor to Countrywide despite the fact that the FDIC records show that a merger of some sort took place between Red Oak merger Corporation and Countrywide, but there is no indication that the agreement in the FDIC records shown in its “Reading Room” on the internet, that Bank of America ever acquired Red Oak or that Red Oak was a wholly owned subsidiary of Bank of America or anything of the sort.
  5. The mortgagee is named as either MERS as a naked nominee with no interest in the loan, or another entity that does not exist in the records of the Florida Secretary of state or anywhere else, and does not even pretend to be an entity organized and existing under the laws of any state. Hence there is no actual payee under the note and there never was, and there is no mortgagee under the mortgage, because the alleged party having an interest int he collateral is a naked nominee without any disclosure as to the true party in interest. This prevents the entire purpose of recording which is to allow for the complete transparency of ownership and encumbrances so that buyers and sellers can be certain that their transaction is valid.
  6. The complaint fails to state any loan or advance of money was ever made to the defendant Homeowner because the Homeowner has learned through hiring professional forensic auditors that none of the parties in the chain leading up to the Plaintiff Evergreen ever had ownership or servicing rights tot he loan. Instead, the loan came from the account of an investment bank that was used as a conduit for the money of investors who thought they were buying mortgage bonds from a REMIC trust organized under the laws of the State of New York. However the trust was never funded and the loan was never transferred into the trust. Accordingly the real creditor, with whom, the Defendant would like to engage in settlement or modification discussions, is a group of investors who might be loosely identified as a general partnership that does not qualify as a bank, lender, or even mortgage broker.
  7. The complaint fails to state any injury to any party in the complaint. his is because the money came from investors and on top of that, the intermediaries in the cloud of false securitization claims, received multiple payouts of the entire loan balance that should have reduced the account receivable of the investors who were the only parties who advanced money, to either zero, less than zero (with money owed back to the borrower) or at least less than the amount demanded  by Evergreen, who had no right to issue a demand letter since the actual owners of the loan had never given such an instruction.


Motion to Dismiss:
a. The pleadings conflict with the attachments. Everbank is named as either servicer or holder but no party is named as creditor. The attachments show a different party as the lender.
b. The complaint fails to allege injury to Evergreen and a short plain statement of how EverBank was financially damaged. Plaintiff fails to attach cancelled check(s) or wire transfer receipt(s) or wire transfer instructions for an actual transaction — which is the essential element and foundation for use of the note and mortgage as evidence of the transaction and the terms of repayment depending upon whether Plaintiff is attempting to enforce the terms of the NOTE, MORTGAGE, DEBT, LOAN OR ASSIGNMENT.
c. Prior communications with Countrywide, BAC and BOA and the borrower indicate alternately that each of those entities was the holder, but then revealed the existence of a loan pool claiming an interest. Plaintiff should be required to attach a copy of the cancelled checks or wire transfer receipts to show which party is actually claiming injury and a short plain statement of why their claim is secured.
d. Plaintiff has failed to allege that it or any affiliate or predecessor or successor has responded to the RESPA 6 (Qualified Written Request) sent by borrower or the Debt Validation Letter sent to the apparent servicer which alternated between Countrywide, BAC and Bank of America.
e. Plaintiff has filed to allege and attach relevant copies of documentation demonstrating proof of ANY POTENTIAL OR ACTUAL LOSS nor any authority to represent the creditor(s) and identifying the creditor who meets the standard of a party qualified to submit a credit bid at foreclosure auction, execute a satisfaction of mortgage upon payment, or a a correct accounting of the loan receivable or bond receivable if the loan is in fact claimed by any of the above stakeholders to be owned by a loan pool, REMIC, Special purpose vehicle or trust.
f. Unless the Plaintiff can allege and attach documents showing financial injury to Plaintiff as of the date that the complaint was filed, it lacks standing in this case.
g. Since the case is essentially in rem with the requested relief being the foreclosure sale of the property owned by the Defendant, Plaintiff has failed to state a cause of action upon which relief could be granted.

h. Even if the court were to rule that the Plaintiff had standing to initiate foreclosure proceedings, the Plaintiff must identify the party in the Judgement who will be  named, and supply the accounting required to show the amount of  financial injury, produce and attach the required documents to the complaint and prove its allegations and exhibits by competent evidence.

i. It is apparent here that Plaintiff lacks standing and certainly has failed to plead and attach required documents demonstrating financial injury since according to its own pleadings and attachments it was neither the lender nor the purchaser of the loan according to the existing allegations and exhibits.

WHEREFORE, Defendant prays that this Honorable Court will dismiss Plaintiff’s complaint with prejudice unless Counsel for Plaintiff can proffer in good faith that it can plead and attach the required exhibits and grant Defendant reasonable attorney fees and costs for defending a patently sham pleading.

OCC Announces EverBank Agrees to Pay $37 Million to Customers

Aug 23, 2013 – EverBank was subject to a cease and desist order for unsafe and unsound practices in mortgage servicing and foreclosure processing.

EXCLUSIVE: EverBank takes flight as regular ‘jumbo’ loan RMBS issuer

Everbank Exits Wholesale Lending to Focus on Correspondent

http://www.mortgagenewsdaily.comNews HeadlinesMND NewsWire Home

Federal Reserve Seeks to Fine HSBC, SunTrust, MetLife, U.S.


Apr 1, 2012 – Last week, a senior Federal Reserve official recommended fines for these Bank, MetLife, U.S. Bancorp, PNC Financial Services, EverBank, OneWest and in residential mortgage loan servicing and foreclosure processing 

11 Responses

  1. Iwantmynpv,

    And yet… we keep seeing only one side of the equation in this damn country: the side bank-bought-media-and-government are allowed to give.

    So much is happening worldwide and so rapidly that it may, in fact, get resolved completely outside of the banks and the existing system. Between IMF, The World Bank, the enormous investigation undertaken by Interpol, the investigations conducted by ICIJ, the BRICS countries setting up reserves all over the place and signing individual trade agreements with other countries (the recent 15 billion contract between Italy and India comes to mind, among many others), most people’s fears may never come to pass. As an example, the fact that Obama had to back down so publicly from his threats against Syria and the conditions under which he had to do it augur extremely well for humanity. Not so well for John Wayne’s America everyone wants to restore but that America died with him and Charlton Heston, long ago (and thank Gawd for that!)

    New paradigm. Adapt to it or be left behind.

  2. Christine is right. the FEd has already started to taper without telling anyone. That is why the yield on the 10 year spiked so rapidly. Although, we some roll-over on maturing portfolios – we do not see any increase in net treasury purchases. The only to bring private demand for the 10 year back to historical levels is for the Fed to move aside entirely and let the yield take a free market trajectory to 5%.

    Yes this will put the 30 year fixed at about 6.7, but house prices will decline to meet the higher debt service costs. Yes, the banks will have to raise their reserves considerably, and yes they will earn less, but fuck them and let them eat some of their own deleverage.

  3. 07 September 2013

    Rhode Island Homeowners Fight Back

    Homeowners fight back after federal judge lifts stays on foreclosures in Rhode Island.


  4. Glaski Attorney Richard Antognini on the Court’s Decision and What’s Next for Mr. Glaski – A Mandelman Matters Podcast


    Really a must-hear. If Glaski was good news, it is still far from the end of the battle for him. He won just one victory. He has a long road ahead and he knows it. When people bandy that case about as the ruling that changed the foreclosure scene, they are delusional. Glaski may very well accomplish for CA what Schwartzman accomplished for banks: simply put them on notice that they need to fix the records before filing any kind of action. Or… whatever action they file, they must beware. It won’t stop foreclosures.

  5. Prepare For Tough Times If Your Job Has Anything To Do With Real Estate Or Mortgages

    By Michael Snyder, on September 11th, 2013

    Housing Crash 2013If you have a job that involves building homes, buying homes, selling homes or that is in any way related to the mortgage industry, you might want to start searching for alternate employment. Seriously. Interest rates are starting to rise dramatically, and mortgage lenders such as Bank of America, Wells Fargo and JPMorgan Chase are all cutting thousands of mortgage-related jobs. Last week, mortgage refinance activity plunged to the lowest level that we have seen since June 2009 and total mortgage activity dropped to the lowest level since October 2008. Unfortunately, this is only the beginning. Mortgage rates closely mirror the yield on 10 year U.S. Treasuries, the the yield on 10 year U.S. Treasuries has nearly doubled since early May. But it is still only sitting at about 3 percent right now. As I have written about previously, it has a ton of room to go up before it hits “normal” historical levels, and so do mortgage rates. As I noted the other day, some analysts believe that the yield on 10 year U.S. Treasuries is going to hit 7 percent eventually. If that happens, mortgage rates will be more than double what they are today. And we have already seen the average rate on a 30 year fixed rate mortgage go from 3.35 percent in May to 4.57 percent last week. If interest rates continue to rise we could be heading for a “housing Armageddon” that will make the last housing crash look like a Sunday picnic.

    The mini-housing bubble that we have been enjoying for the last couple of years is coming to an abrupt end. It doesn’t matter what the mainstream media is telling you about a “sustainable” housing recovery. Just look at how the big mortgage lenders are behaving. They know the gig is up. According to Bloomberg, Bank of America has just announced that they will be eliminating 2,100 mortgage-related jobs…”


    Snyder has been right a few times. If he is this time again, it’s going to be incredibly painful not just for real estate but also for renters and tenants. Once the mortgage rates go up, rents will go up too. Lots of people will find themselves on the street. So… increased unemployment, high rents and fewer and fewer people able to afford them.

    Java, your sheriff is right. It ain’t gonna end well. Weidner keeps claiming it. I try avoiding saying it but the picture ain’t looking too pretty…

  6. “…and that someone or something needs to pull them back from the brink of total annihilation of themselves and the rest of the planet.”

    We are the people we keep waiting for…

  7. I must say I had a shocking experience at a sheriff sale this week. I was in a bad mood watching one guy put in $100 credit bids for 5 different sales for 5 different banks !!!!
    In another day and another time long ago, I would have bit my tongue. But not any more. So when the sale finally ended , I told the sheriff I did not like what I was seeing. Credit bids, one guy representing a representative of another representative of fraud.
    So waiting for the sheriff to show me his badge, instead he said to me , you are 100% correct and I agree with you. Also said this will not end well. I was shocked. All I remember saying was thank you ??????? LOL

  8. I find it fascinating that the judges in the foreclosure cases do not see the black horse of hell coming after their mortgages and notes, too. No one is immune from catastrophic greed. Even some of the Wall Streeters admit that the greed is out of control and that someone or something needs to pull them back from the brink of total annihilation of themselves and the rest of the planet.

  9. Nasty trip down memory lane… Amnesia can be a good thing!


  10. >________________________________ > From: Livinglies’s Weblog >To: mbies39@yahoo.com >Sent: Thursday, September 12, 2013 11:39 AM >Subject: [New post] OCC Announces EverBank Agrees to Pay $37 Million to Customers, $6.3 Million to Housing Assistance Groups > > WordPress.com >Neil Garfield posted: “Internet Store Notice: As requested by customer service, this is to explain the use of the COMBO, Consultation and Expert Declaration. The only reason they are separate is that too many people only wanted or could only afford one or the other — all three ” >

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