Dan Edstrom, senior forensic analyst, points out that what happened in Chase-WAMU and IndyMac-OneWest, is replicated in hundreds of other “chains.” It is peculiar to say the least that regulatory authorities call foreclosures “faulty” when the foreclosing party was relying upon an entity that did not exist executing documents long after the entity went into bankruptcy. We have often seen documents executed on behalf of an entity that never existed. That’s not faulty. It is criminal if it was done with full knowledge of what was happening. And how could they not have known that the nonexistent entity on whose behalf the foreclosing party directed the drafting of fraudulent documents to prepare a random bank or servicer to foreclose?
Your article today was right on point for other cases. Mortgage Lenders Network USA, Inc. (“MLN”) went into a chapter 11 liquidation in February 2007, the plan was confirmed in February 2009 and the plan became effective in June 2009. At that point MLN ceased to exist and all assets and claims were transferred to the liquidating trust.*A declaration filed in that bankruptcy states that all loans owned and/or serviced by MLN were sold in the ordinary course (and some not in the ordinary course) prior to the liquidation and that at the time of liquidation MLN did not own or service any mortgages whatsoever.*And yet in July 2009 [one month after confirmed plan was effective] a 2nd assignment was executed and recorded from MLN to US Bank, NA as Trustee (without specifying a trust). This conflicts with the first assignment executed and recorded in February 2009 where MLN assigned it to some bogus entity.*And then during the homeowner’s previous bankruptcy, in October 2013 [4 years after the MLN BKR was completed] MLN again assigned the loan to a new and different party. They ceased to exist in 2009 so how could the 3rd assignment possibly be anything other then an attempt to perfect a pre-petition lien in violation of 11 USC 362(a)?*All they have to do to prove us wrong is produce an actual financial transaction between a valid grantor and grantee where the transaction happened after May 15, 2012 (BKR filing date) and the date of the 3rd assignment. Then we lose.
Filed under: foreclosure | Tagged: Chase, INDYMAC, Mortgage Lenders Network USA, OneWest, US Bank as trustee, WAMU |
you need to get a statement from sec , stating that the trust was and is revoked. meaning there is no trust.
that but the SEC revoked the trust whom WF claims my loan is in.
Does anyone know whether or not SLS is a sub servicer of B of A?
Ok but all that does nothing while they bluff you out of your home.Can someone lend some insight into how one fights the corrupt system at the same time as fighting the fraudulent foreclosure.
I have like many a very similar situation,2010 I ask Wells Fargo to renegotiate the terms of this interest only 6%,fixed for 10 that at that point I had paid around 235k in interest.They tell me sorry gotta go by investor guidelines,Investor is Thornburg Mortgage and they are wrapping up and liquidating,but list Wells Fargo,and US Bank as Unsecured,Non Priority Creditors,and dispute their claims to any of the loans,not only that but the SEC revoked the trust whom WF claims my loan is in.
So all the mod fraud,and origination fraud aside heres Wells Fargo who one day says they originated the loan,next day they are just the servicer,2 cases dismissed,2 BK filings,6 years and 85k in lawyers,Im still in foreclosure,and judges getting paid by big banks aint going to rule in my favor,lawyers who will never cross the judges they go in front of weekly to make money to pay their bills,regulatory and gov who have no incentive for one to get what they deserve,and I want to know if anyone who follows,participates etc on this site has some input?Anything that might be helpful.
Reblogged this on California Freelance Paralegal.
well that clearly explains why chase reneged on 2 loan mods with me because the first loan mod read chase as successor to WAMU and then the 2nd was some other non existent entity of chase. How can you make a loan contract with some entity that does not exist? explains all their lousy stall tactics and pushing me in debt further. A**holes and crooks