For further information please call 954*495*9867 or 520-405-1688
=================================
see Deutsch Crashes on Statute of Limitations in Dade County
For many years judges have turned delays in foreclosures against borrowers usually making some comment about having lived for free without making payments. Those judges have ignored the fact that the delay was caused by the Plaintiff who initiated the foreclosure, who for their own reasons delayed, obfuscated and continually delayed the progress of the case that they were supposed to prosecute, since they filed the lawsuit. In this case, Deutsch lost based upon a statute of limitations that had run and based upon the fact that Deutsch was the reason for the delays.
The fact remains that in most cases, homeowners were urgently asking for modifications in which they would have paid for terms that were based upon economic and legal realities. Those homeowners, usually paying attorneys fees throughout the period of delays, were not getting any “free ride.” They were set to lose their down payment, cost of improvements and the costs of forensic audits and attorney fees. But the item to notice, as we have discussed before, is that where the adversaries are a bank or servicer on the plaintiff side and the condo or homeowners association on the other, the decisions are more likely to run against the bank.
So it behooves the attorneys for the associations as well as the homeowners to act in concert where the possibility exists for defeating the claims of a party like Deutsch who seems to lack ownership and lack authority to collect or enforce.
The case shows the “negative consequences that lenders can face if they go too far with their delay tactics in foreclosure cases,” condo association attorneys Nicholas and Steven Siegfried said in a statement.
Loan servicer American Home Mortgage Servicing Inc. filed suit in January 2007, demanding accelerated payments for the full $1.44 million.
Ironically it was this move for upfront payments that would unravel the lender’s case and cost the bank the million-dollar property, because the condo association successfully argued the demand started a five-year clock for resolving the foreclosure.
Filed under: foreclosure | Tagged: AHMSI, American Home Mortgage Servicing, ASSOCIATION LIEN, Dade County, Deutsch, statute of limitations |
The bottom line is these fraud closures are all fake manufactured court proceedings. That is why nothing they are doing is legal. These “investors” are high level criminals who are spies for a foreign entity. These fraudclosures are manufactured events by our enemies being carried out by international spy agencies and their agents. These proceedings are being conducted as a big “put on” by the Global Foreign Intelligence Agencies who already “swapped out” our property titles amongst their own Global spy ring. Fraudclosure is really an attempt to
steal our U.S. Citizenships. The traitors from within swapped us out from within their own foreign intelligence agencies to fraudulently
conceal they “swapped out” our private wealth by hiding our private equity they “stripped” from within their own “private sector,” secret divisions of banks
and banking. This was all committed from well within Federal, State, County and Local subject matter jurisdiction by numerous foreign
intelligence
agencies vis a vis their agents hiding from within.
These big swindlers are trying hard tp make
us believe that we do not own
anything.
The “investors” in their own fraud want their victims to comply with all of their evil plans for them or they will do everything and anything they possibly can to force compliance.
They will manufacture many evil scenarios to try and force you to flee from your house and family.
They will use demon possession of your own friends and family members to try and turn you against them.
They will find ways to imprison you, they will drug you to hospitalize you and psychologically terrorize you. They will manufacture ways to force medical treatment to drug you into compliance. These are the most evil entities imaginable who curse the ground you walk on and rue the day you were born especially if you were born on U.S. soil. They hate you because you are “too good,” therefore, you must be of God, the Creator.
They really hate you because you are too moral.
They want to break you down, to take you down the road to perdition.
That is the real meaning of “forced compliance” with all of their Global Securities Fraud crimes.
Ponzi schemes are the most immoral type of schemes because the victims do not even know who, what, why, where, when, or how they are being swindled. That is why their victims are strategically and methodically “broken down” over time. They are bound and determined to repay their sadistic nazi criminal selves at the top of their Global satanic based, luciferian
pyramid scam.
These traitors fully intend to throw everybody, including themselves under the wheels of their Global Communist re-socialist bus.”
Nothing is as it seems that is for sure.
They want the living to envy the dead.
If you “get it,” they want you drugged up, locked up or both to fraudulently conceal the theft of your property and possessions.
They want to steal it all from you from behind the iron curtain sub planted and imbedded right on U.S. soil.
These “investors,” are like a Lyme disease carrying tick that you are not supposed to know imbedded itself into your life.
Then it becomes like a bloodsucking leech that is out for every last drop.
These demons are energy vampires who thrive off of draining their victims of all of their positive energy and good karma.
They are downers who hate to see their targeted victims happy.
They live to nitpick as if they are the moral ones.
That they certainly are not however, no one is supposed to know the sinners are not saints.
That is why the sinners make the saints out to be sinners, by making themselves appear to be saints.
They love to throw eggs at their victims yet they are who have the egg all over their faces.
They will stone you when your driving in your car.
They will brag about the fun they had hanging out at the local bar.
They will try to make you jealous or envious of them or others because they are who are jealous and envious.
Mind Control is used to steal their victims free will over time by trying to invade their victims psyche.
A spiritual war is the most severe type of war because it is mainly a psychological war. That is why their agents cannot hide how truly deranged they really are.
You meet their staff in your daily life but they reveal themselves slowly and methodically.
One day they will all come out of the closet and want to lock you in there.
Please pay very close attention to the goings on around you. That is the best bit of advice I can give because these demons rule by deception.
These fraud closure demon “investors,” these “Globalists” are chameleons in sheep’s clothing who are “conjured up” evil demons from
hell.
They truly are demonic entities who are deep, dark, “deep space 9,” evil spirits. They are Black Lords who are extremely high level satanist luciferians who have many evil minions and cohorts at every level and point of the spectrum.
They have invoked the most evil demonic spirits and dark entities imaginable to assist them in their quest for our titles to our humanity.
They fully intend to steal the human dignity of every single natural born American citizen who places their full faith and confidence in one God, the Creator of all who is the Creator of the entire universe.
This evil truly is extremely demonic. It is an evil, dark energy that is coming from another dimension outside of the natural universe from deep dark caverns, inside of deep dark black holes inside of the dark side of the spiritual realm.
They operate on a different sociological, physiological and psychological plane that is a plateau from inside of the deep dark reaches
of hell.
They really want you to believe everything they say is true but none of
it ever is.
That is because they are all investors in their own criminal, felony fraud, sin and avarice. We were never supposed to find out the truth is the fraud creators are the very same fraud investors. That is why their protection racket is used to control their own fraud from being brought down. It is an International, Global Securities
Fraud Counterfeiting racket.
The Globalist “investors” are racketeering with our U.S. Birth
Certificates.
Fraudclosure is meant to keep its victims in the “dark of night” and living lies.
Its victims are never intended to discover the RPII whose full intentions are to slowly and methodically, strip its victims of their last shred of dignity.
That may not happen for years, however, that is the full intent of fraud closure. What these demonic entities are doing is trying to turning day into night slowly, over time.
They want to “loosen up” the moral code of their target.
If you are deemed to be “not cooperating” with these control freaks, these demons will use every form of deception imaginable to try and force compliance with all of their evil plans for their target.
They made a decision about and for
their victim decades before their manufactured crisis hit. They deem their victims unfit to handle their own titles to their own self worth. They call it “using up” their victims. However, the only thing they “used up,” were their own souls and human dignity.
They desire to pin the blame for the sacrifice of their own dignity and humanity on their victims. They surmise if they are going to hell for all of eternity, they are going to try to manufacture an extremely deceptive
way to bring their victims with them.
They use subliminal messaging and all sorts of evil abominations to force compliance.
Those who are “paying the bills” on time, are in for a rude awakening because no one is in compliance with this evil and no one can never be.
This evil third-party “plaintiff” fully intends to wipe out the wealth and dignity of every American citizen born
here.
They want no one to have any legal rights to anything let alone a fair trial. That is because these “investors” in their own Global Securities Fraud stripped We The People of all of their equity. This was done to steal all of our freedoms.
Even the gazillionaires will be wiped out. The “investors,” want a cashless society without a written paper trail of their crime spree. The “Globalists,” want no documentation of their
crimes upon the U.S. citizenry.
That is what was demonstrated by this Global “freemasonic cult” on 9/11.
Those tiny bits of paper and all of the
debris floating in the air were a message being conveyed the “investors” in their own Global Securities Fraud pyramid scam obliterated We The People. We were all considered dead to them on that horrible day because they are by law, an unknown foreign third-party claimant who are legally dead, a legal fiction and therefore a legal nullity.
They are soulless meaning they are
morally, physically, mentally, spiritually and emotionally dead.
To those who have already been openly fraudclosed upon or, did a “short sale,” or were “lucky enough” to get a “loan mod” from these crooks, the worst is yet to come.
That is because the enemy is hiding from within our own house, posing as an American.
These traitors have no loyalty to anyone or anything. It is all about the theft of all of our freedoms by employing the use of so many deceptions it is unimaginable to just about anyone.
That is how desperate these entities are to send everyone to hell with them forever.
A cashless society will further promote their evil agenda by making everyone cash starved and desperate.
Weaponry will be no match in this war for it is first and foremost, a spiritual war that is being waged from another dimension.
Aliens are demon entities. Furthermore, God the Creator is not an alien as many “astronaut theorists” surmise.
The Creator is a positive spiritual being who is an extremely powerful force for good.
These alien entities are
not.
They profess to be immortal because they thrive off of the immoral.
Fraudclosure corresponds with The Finger of God and Pneumatology in Luke-Acts. 4.6.1. Transfiguration Narrative (Luke 9.28.36)
First, within the transfiguration narrative (Luke 9.28.36) we can further support the exogis of the “finger of god” at L.K. 11.20 by painting to the importance of God the father within this periscope. Within this section Jesus is God’s servant, as well as the Fathers Son, and the prophet like Moses (Luke 9.35). Already we have argued for Jesus as the prophet like Moses, and the suffering Servant, within the Beezlebub periscope (4.4.7.1). But Jesus is also the Son of the Father at Luke 9.35. This may also receive further support from the suggestion that the Transfiguration narrative recalls the “bending of Issac” at Genesis 22 from within the Targums (Liefeld 1974:177). But within Luke 9.34-35 the “cloud” motif and the “voice” recall the Exodus tradition from the Old Testament. Also as Liefeld (1974; 170-71), In Jewish Tradition there is an association between the Shekinah and the (‘daughter of the voice’). The latter becomes a substitute for the Shekinah and the direct inspiration of God in Prophecy. 4.6.11. Exodus 24.17-18 (LLX) with this we can agree with Lie field for only Luke records that the disciples feared “as they entered into the cloud, recalling Exodus 31.18 LXX.
(Grey 197:63), then the cloud and the voice are also linked to the direct intervention of the “finger of God.” This would argue for the same connection between Luke 9.34-35 and Luke 11.20 which can only refer to God the Father himself.
This is also supported by the fact that the cloud “overshadows” the disciples at Luke 9.34 is more specifically linked to the “power of the most high” at Luke 135 that overshadows Mary. At Luke 6.35-36 the title “most high” is linked to the Father.
Happy New Year to Neil and everyone!
These fraudclosure courtrooms are being used to commit the most heinous crimes in U.S. history barring none.
The reason being is, the Fraudulent Concealment of the Origination Fraud is being committed to block discovery of the who, what, why, where, when, & how in regards to the underlying
“pledge agreements.”
By the underlying “pledge agreements,” I am referring to the innumerable amount of “partial grant deeds,” that are unsigned, unregistered and unsecured “claims in tort.” Those unverified and “uncertificated certificates,” are International Securities Frauds. Those “Red Flag Securities” are being used as a hidden secret, undocumented, weapon to wrongfully and feloniously fraudclose upon the U.S. Birth
Certificates of We The People of these United States by swapping out illegitimate property titles to all U.S. Properties.
The Origination Fraud is masking the international drug trafficking outfit the U.S. Taxpayers were unknowingly and unwittingly funding for the International Banksters under the
guise of “Mortgage Originations.”
The international drug trafficking outfit was masking the International human trafficking operation they were running under the guise of “derivatives investing.”
The “Globalists up on Wall Street” were having quite a party around the globe buying, selling and trading the lives of people by pledging the souls of all of humanity secured by nothing of value, our U.S. Birth Certificates.
The low class, low life, sleazy, rotten thugs, and all of their comrades around the globe, were entertaining themselves by gambling on phony, fake and fraudulent open market derivatives trading platforms on everything and anything that effects our U.S. Citizenship. That was a Global Securities Breach of our own
Personal and National Security. That was done mainly by the Russians and the Chinese who were using their own Agencies and secret Agents hidden from within Banks and Banking to counterfeit cash, and recash innumerable amounts of mortgage notes by overissuing fraudulent investments in their own International Securities Fraud “U.S. Bank Note”
counterfeiting “banking black op.”
This was foreign espionage at an absolutely obscene level.
This could only have been allowed to happen by traitors hiding from within who appear to be American Citizens but are all a bunch of criminal imposter traitors who are complete and utter sell outs.
This part of their evil plot began when the U.N. declared “we are all human
capital.”
Wall Street execs took it upon themselves to fraudulently induce our U.S. citizenship papers, our U S. Birth Certificates into uncertificated, unsecured and unregistered Global stock and bond offerings. Their International Investment Banking
Perps overissued fraudulent investments backed by our labor without our knowledge or consent.
Then the “Wall Street Gang” of investment fraud, insurance fraud re-investors in their own Securities Fraud
really rang U.S. up after Clinton repealed Glass-Steagall in 1999. Clinton made drug and human
trafficking a tradable commodity here, and around the globe.
Somebody please arrest these crooks!
The computer scrambled the heading a bit so I want to clarify:
Defendant’s Motion to Vacate Judgment Order was filed by the Defendant’s on November 22, 2013 in the Court of Cook County, Illinois, Chancery Division, Dorothy Brown, Clerk
RE: Case NO. 10 CH 20188
PROPERTY ADDRESS:
14201 S. Cicero Ave.
Crestwood, Ill. 60455
First Midwest Bank v. Venturella
This case is regarding the unlawful fraudclosure upon my business
property by First Midwest Bank. First Midwest Bank lost possession of the property title to my property by committing fraudulent concealment of a cross collateralization of my principal residence with my business
property at the closing table. The evidence of the fraudulent concealment is my signature is not on the “blanket mortgage.” First Midwest Bank, a subsidiary of J.P. MORGAN CHASE, fraudulently induced a blanket mortgage to cover up for the
Origination Fraud and numerous other frauds committed at the “closing table,” in 2006 by Amcore Bank N.A.
First Midwest Bank/J.P. MORGAN CHASE have been trying to fraudulently
create a chain of title by switching parties numerous times after the
commencement of their fraudulent foreclosure suit. That is evidenced by their attorneys filing a “Foreclisure Lis Pendens,” at the Cook County Recorder of Deeds Office several
months after the commencement of their phony, fraudulent foreclosure suit.
There was also a building fire on the property that was determined to be an arson fire. There was a security camera on the building and the police determined it to be an arson fire. A black man was caught on tape setting fire to the building.
“The Plaintiff’s” were the only
insurance policy holders.
That arson fire alone should have been cause for
automatic dismissal because that
arson fire officially made my business property a crime scene. The arson fire could therefore, only be deemed attempted destruction of evidence to fraudulently conceal evidence of a crime.
That arson fire also proves this is a highly criminal
case because the “Plaintiff’s” were unlawfully and unjustly enriched by the judge allowing them to
collect the unused insurance money without an ABI.
I objected to that unlawful and unjustified motion by Plaintiff’s. I was told by Judge Price Walker to enter a written response which I did. My written respinse was willfully and
wantonly ignored by Judge Price Walker.
Correct computer error re my previous comment:
A void order is an order issued without jurisdiction by a judge and is void _ ab initio_ and does not have to be declared by a judge to be void.
IN THE CIRCUIT COURT OF COOK COUNTY ILLINOIS COUNTY DEPARTMENT – CHANCERY DIVISION
FILED-1
2013 NOV 22 PM 5:38
West End Trust 2012-1, as successor in interest to Bayview Fund Acquisitions, LLC., as successor in
Interest to Bayview Loan Servicing, LLC., as successor in interest to First Midwest Bank
Plaintiff’s NO. 10 CH 20188
PROPERTY ADDRESS:
14201 S. Cicero Ave.
Crest wood, Ill. 60455
-v-
Venturella
Defendant’s
DEFENDANT’S MOTION TO VACATE JUDGMENT ORDER AND IN SUPPORT OF DEFENDANT’S MOTION TO STRIKE
AND DISMISS PLAINTIFF’S MOTION
TO SUBSTITUTE PLAINTIFF AND DEFENDANT’S MOTION TO DISMISS
PLAINTIFF’S FORECLOSURE
COMPLAINT AND REQUEST FOR HEARING
Here comes the Defendant’s, pro se, move to vacate Plaintiff’s judgment/order pursuant to FRCP 60 (b.) (4.)
and (d.) (3.). This court granted
Plaintiff’s relief on Oct. 19, 2013,
based on false and misleading statements by Plaintiff’s. Defendant’s
state in support of their motions are
as follows:
Plaintiff’s Motion to Substitute Plaintiff’s claiming they were a “new
party,” was a false and misleading statement by Plaintiff’s and is evidenced by the letter Defendant’s
recently received from Bayview
stating they are the Plaintiff/Servicer.
A copy of the letter is firmly attached to this Motion as Exhibits A and B.
Plaintiff’s Lack of Proper Notice by the time of the hearing on Oct. 19, 2013 was a violation of Defendant’s right to due process and caused the offensive
order to be entered.
As a result of Defendant’s own dilligence, we have discovered Plaintiff’s do not have a Notorial
Certificate and therefore, can have nothing in writing that would satisfy
the Statute of Frauds. Plaintiff’s lack
of dilligence and subsequent actions, has caused Fraud in the Procurement.
As a result of Fraud in the
Procurement, Plaintiff’s entire judgment/order is void and of no legal
force or effect.
Because of Plaintiff’s lack of due diligence, and Plaintiff’s subsequent
actions have caused Fraud in the Procurement, and is cause for dismissal of Plaintiff’s entire
Foreclosure Complaint and also
supports Defendant’s Motion to Dismiss scheduled for hearing on
December 16, 2013. Fraud in the
Procurement if Plaintiff’s suit supports
Defendant’s argument in their Motion to Dismiss that Plaintiff’s suit lacks subject matter jurisdiction (810 ILCS
5/3-102.)
Defendant’s argument in support of
their motions is as follows:
Void order which is one entered by a
court which lacks jurisdiction over parties or subject matter, or lacks
inherent power to enter judgment, or order procured by fraud, can be
attacked at any time, in any court, either directly or collaterally provided the party is properly before the court,
People ex. re. Brizica v. Village of Lake Barrington, 644 N.E. 2d. (Ill. App. 2
Dist. 1994).
In re Marriage of Mancino, 236 Ill. App, 3d. 886 (2nd. Dist. 1992) (If the order I[I]f void, it may be attacked at any time in the proceeding.”).
The plaintiff’s false or misleading statement given under oath concerning issues central to her case amounted to fraud. See Cox v. Burke, 706 So. 2d. 43, 47 (Fla. 5th DCA 1998).
A void order is an order issued without jurisdiction by a judge and is void an initio and does not have to be
declared void by a judge to void. Only on inspection of the record of the case showing that the judge was without
jurisdiction or violated a person’s due process rights, or where fraud was involved in the attempted procurement of the jurisdiction, is
sufficient for an order to be void, Potenz Corp. v. Petrozzini, 170 Ill. App. 3d. 617, 525 N.E. 2d. 173, 175 (1988). In instances herein, the law has stated that the orders are not void an initio and not voidable because they are already void.
A void judgment order is one that is entered by a court lacking jurisdiction over the parties or the subject matter, or lacking the inherent power to enter the particular order or judgment, or
where the order was procured by fraud, in re Adoption of E.L., 733 N.E., 2d. 846, (Ill. App. 1 Dist. 2000).
Void judgments generally fall into two classifications, that is, judgments where there is a want of jurisdiction of
person or subject matter, and judgment procured through fraud, and such judgments may be attacked directly or collaterally, Irving v.
Rodriguez, 169 N.E. 2d. 145, (Ill. App. 2 Did. 2000).
A void judgment is one that has been procured by extrinsic or collateral fraud, or entered by court that did not have jurisdiction over subject matter or the parties, Rook v. Rook, 353 S.E.
2d. 756 (Va. 1987).
If the surrounding circumstances indicate the opposing party’s due
process rights were unfairly compromised, ….. relief under void judgment statute is mandatory. See Carter v. Fenner, 136, F. 3d. 1000,
1005 15th Cir. 1998).
Evans v. Corporate Services, 207 Ill. App. 3d. 297, 565 N.E. 2d. 724 (2nd
Dist. 1990), (“a void judgment, order or decree may be attacked at any time or in any court, either directly or collaterally.”)
When rule providing for relief from void judgments is applicable, relief is not discretionary matter, but is
mandatory, Orner v. Shalala, 30 F. 3d. 1307 (Colo. 1994).
Rule 60 (d.) (3) is not time-barred
because it is intended “to protect the integrity of the judicial process” Bowie v. Maddox, No. 03-948, 2010 WL 45553 at *2, A court may exercise its
equitable power to set aside a fraudulent judgment “to maintain the integrity of the court and safeguard the public.” United States v. Smiley, 553 F. 3d. 1137.
The fraud misrepresentation or conduct “must involve an unconscionable plan or scheme which is designed to improperly influence the court in its decision.” See State Street Bank & Trust Co. v. Inversions Errazuriz Limitada, 774, F. 3d. 158, 176 (2d. Cir. 2004), Entral Group, 298 Fed. Appx. at 44; Atkinson v. Prudential Prop. Co. Inc, 43 3d. 367, 372-73 (8th Cir. 1994).
Fraud on the court may be present if a party inserts a false or forged document into the record. See Weldon v. United States, 225, F. 3d 647, 2000 WL 1134358 at *2 (2d. Cir 2000) (citing Hazel-Atlas, 322 U.S. at 246-47, 64 S. Ct. 1001-02).
The heightened standard for fraud on the court would justify a finding of such fraud “only by the most egregious misconduct directed to the court itself, such as bribery of a judge or jury, or fabrication of evidence by counsel.” United States v Smiley, 553 F. 3d. 1145.
In Jacob v. Henderson, 840 So. 2d. 1167 (Flat 2d. 1167 (Fla. 5th DCA 1998). The requisite fraud on court occurs where it can be demonstrated, clearly and convincingly that a party has sentiently set in motion some unconscionable scheme calculated to interfere with the judicial system’s ability impartially to adjudicate a matter by improperly influencing the trier fact or unfairly hampering the presentation of the opposing parties claim or defense. Aoude v. Mobil Corp., 892 F. 2d. 1115, 1118 (1st Cir. 1989).
WE have the inherent power to vacate the judgment of the court, fashion an appropriate remedy, Chambers v. Nabisco, Inc. 501 U.S. 31, 44-45 (1991); Hazel-Atlas, 322 U.S. at 250; Fink v. Gomez, 239 F. 3d. 989, 992 (9th Cir. 2001), and sanction a party or its lawyers for willful abuse of the judicial process, particularly when the party or its lawyers have intentionally practiced a fraud upon the court. Levander v. Prober, 180 F. 3d. 1119 (9th Cir. 1999); see also Gomez v. Vernon, 255 F. 3d. 1118, 1133-34 (9th Cir. 2001).
Throckmorton stands clear for the proposition that intrinsic fraud, that is, fraudulent evidence upon which a judgment is based, is not grounds to set aside a judgment. It also makes clear that extrinsic fraud, that is, fraud that was not the subject of litigation, that infects the actual judicial process, is grounds to set aside a judgment as procured by fraud. United States v. Throckmorton, 97 U.S. 61 (1878), see also Browning v. Navarro, 826 F. 2d. 343 (5th Cir. 1987) (According to Justice Miller’s reasoning (in Throckmorton), in order to collaterally attack the judgment, it must have been obtained by fraud, as distinguished from having been based on fraud.”).
For all aforementioned reasons, and pursuant to Rule 60 (b.) (4) & (d) (3), Plaintiff’s judgement is void of any legal force or effect as evidenced by Defendant’s letter from Bayview firmly attached to this Motion as Exhibits A & B.
Wherefore, Defendant’s pray and request this honorable court, vacate Plaintiff’s judgment/order and this court exercise its equitable power to set aside this fraudulent judgment and other equitable relief as this court deems just, and in support if our Motion to Dismiss, grant Defendant’s Motion to Dismiss at the hearing date scheduled for December 16, 2013 and other equitable relief as this court seems just and equitable.
Respectfully Submitted
Defendant’s
Defendant’s Motions were denied by Judge Price Walker on December 16, 2013. No written explanation for the denial was given on the order. However the judge told me in open court that he is the judge.
I agree with NPV. Mid 2015 is when it collapses. Probably why Fannie and Freddie are finally willing to play ball. They know what’s coming. Look for principle reductions coming soon
Do the Judges in this case have a direct interest or indirect interest in the ruling?
No Transparency = Corruption = No Due Process.
NEVER AGAIN
This is the presumption the 6th Circuit in Thompson accepted as ‘fact’ because it was not challenged and became ‘case law’ in Dauenhauer-
The borrower must satisfy her mortgage debt in order to obtain title. See Dauenhauer, 562 F. App’x at 481. Although Thompson has made conclusory allegations suggesting that unidentified third parties have paid off her debt through the loan securitization process, she makes no factual showing that her debt has been forgiven, cancelled, or fully paid.
Thompson was denied discovery of her ‘conclusory allegations’ because the records of sale / purchase / payments to pool (like default insurance) of her loan are not publicly available and exist only as private common business records. For example, should the ‘fines’ paid in national mortgage settlements be applied to borrowers’ obligations before passing any remainder over to the states?
@UKG- the problem with the 6th Circuit decision is that the contract’s terms for the borrower to warrant and defend the clear title to the property were not considered. In this way the court the court ‘disconnected’ the tie between the original contract with the borrower obligating a repayment, and the contract for securitization. Both contracts affect the chain of title. Chain of title is a state right.
This is not a clue. The prospectus and supplement prospectus both disclose that a sampling of the type loans are being provided. The certificates were offered pursuant to those memorandums, and not the PSA, which caused the creation of the trust, and the alleged transfer of the cash flow of the pool of loans.
Because it all happened simultaneously on the closing date – stop challenging the PSA, and take a stab at the Trustee Certification. That’s were the clues are…….
The next wave of foreclosures is coming in mid 2015, many will be re-filings of State Actions in federal courts.
Get ready for the wave of short sales to follow.
At the end of 2006 I called the market top for RE, which occurred in July 2007. All indicators point to a market top in June 2015, and you will all see that i was right come 2016.
BAC and Morgan Stanley are both good short positions to open in January, and for those that purchased SWIR at 18 – it is time to take profits. It can be repurchased at 37 for a long-term hold.
This what I am doing in January 2015.
TSMIMITW
@ UKG ,
That stood out to me right away also … this might be a clue..
*****************
Wells Fargo Securities sold $40 million of what it claimed were highly rated securities to LBBW. The bank alleges that Wells Fargo overvalued the securities, making them riskier than promised.
*****************
For anything to have a rating it must exist… the overvaluation plays into Neils theories too .. the wall streeters were selling these as fast as possible ,, quite probably took money on spec for a deal that was still being populated with notes and simply represented to the buyer that the deal when done would be “AAA”. In this case I’m saying that sloppy journalism is the likely cause of confusion.
“After the sale, the securities were subsequently collateralized by subprime residential mortgages, and defaulted within a year.”
So, they sold the certificates and collateralized the bonds “later”?
I thought it happened the other way around?
Experts?
A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities (MBS) fraud scheme was upheld by a federal judge, who denied the bank’s motions to dismiss. U.S. District Judge J. Paul Oetken let stand charges of fraud, breach of contract, negligent misrepresentation, and constructive fraud against Wells Fargo Securities LLC and Fortis Securities LLC.
“This was a significant ruling in a massive fraud case where the sellers greedily squeezed money from investors despite knowing the underlying securities were riskier than represented and not even worth the price,” said David Warden of the Houston-based law firm Ahmad, Zavitsanos, Anaipakos, Alavi & Mensing P.C. (AZA).
The lawsuit references a 2006 deal, in which Wells Fargo Securities sold $40 million of what it claimed were highly rated securities to LBBW. The bank alleges that Wells Fargo overvalued the securities, making them riskier than promised. In total, LBBW claims that $1.5 billion in securities—sold to the bank and other customers—were misrepresented.
After the sale, the securities were subsequently collateralized by subprime residential mortgages, and defaulted within a year.
Allegedly, the two companies affected not only LBBW, but also the employee pension fund for the Zuni Indian tribe, which according to the bank, led to the discovery of the fraudulent activity.
LBBW’s attorneys argue the alleged fraud was masked by the beginning of the economic crisis in 2007, and was only discovered later after the U.S. Securities and Exchange Commission (SEC) began administrative proceedings related to a $5.5 million investment made by the Zuni tribe’s employee fund.
http://www.dailybusinessreview.com/id=1202713539844/Statute-of-Limitations-Dooms-Deutsche-Bank-in-Foreclosure
Does anyone have a link to this story that doesn’t require a linkedin login to access?
UKG,
I second your post. Study what works and stay away from what doesn’t and cannot bear fruit. We live in a system where certain agencies have been assigned the role of regulating financial operations. It is not incumbent to a borrower, party to a specific contract with specific provisions, to interpret or denounce said contract simply because those agencies fail to do their job. Judges will not rewrite the terms of the contract on the grounds that those agencies are AWOL when needed and nor should they. Different animals, different issues and different jurisdictions.
Or… keep pressing those same irrelevant issues at your own peril. But don’t complain when your strategy backfires. It’s not for want of being warned.
Great post UKG
choose your causes of action more carefully…..
United States: Sixth Circuit Rejects Claims Challenging Loan Securitization And Denial Of HAMP Loan Modification
Last Updated: December 23 2014
Article by Edmund Sauer and Frankie N. Spero
Bradley Arant Boult Cummings LLP
On Friday, December 5, 2014, the United States Court of Appeals for the Sixth Circuit recently issued its decision in Thompson v. Bank of America, et al., — F.3d —, No. 14-5561, 2014 WL 6844931, a case involving various statutory, tort, and contractual challenges to the securitization of a mortgage loan and the denial of a loan modification under the Home Affordable Modification Program (“HAMP”). In an opinion designated for publication, the Sixth Circuit affirmed the district court’s dismissal of the lawsuit, holding that the borrower did not state any claim for relief.
The Sixth Circuit used its comprehensive opinion in Thompson to address and reject so-called “securitization” and HAMP claims that borrowers have increasingly asserted in the past few years. The Sixth Circuit addressed the theories “in detail” to “assist the district courts in addressing this wave of creative litigation.”
Here are a few key aspects of the Court’s ruling:
First, the Sixth Circuit rejected the borrower’s “argument that the securitization of her mortgage note altered her obligations under the note.” The court emphasized that “Federal law provides for the creation of mortgage-related securities” and “[t]he pooling of mortgages into investment trusts is not some sort of illicit scheme that taints the underlying debt.” It also unequivocally held that the “[s]ecuritization of a note does not alter the borrower’s obligation to repay the loan” because “[s]ecuritization is a separate contract, distinct from the borrower’s debt obligations under note.” The court further reaffirmed the propriety of using Mortgage Electronic Registration Systems, Inc. (“MERS”) in the transfer of mortgage notes.
Second, the Court rejected the borrower’s various claims that Bank of America made misrepresentations to her during the loan modification process under HAMP. Although the court “sympathize[d] with” the borrower’s alleged “inability to procure a payment modification,” the Court rejected her fraud/misrepresentation claims. Even “accepting as true Thompson’s allegations that [Bank of America] stonewalled her during the modification application process,” the Court held that this alleged “conduct does not support a claim for negligent or intentional misrepresentation.”
Finally, the Sixth Circuit rejected the borrower’s claim under the Equal Credit Opportunity Act (“ECOA”), holding as a matter of first impression in the Sixth Circuit that an alleged refusal to modify the borrower’s loan under HAMP does not constitute an “adverse action” under the ECOA.