The Neil Garfield Show at 6pm EST: Contrived complexity from the usual suspects: MGIC master insurance pools

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Tonight California attorney Charles Marshall hosts the show and is joined by Investigator Bill Paatalo.  Paatalo recently stumbled upon an insurance policy that was issued for loans in a trust, but discovered that the trust no longer existed due to a payoff of all loans within the trust years before by Mortgage Guarantee Master Policy (MGIC). However, that didn’t stop BNY Mellon “as Trustee” from filing a foreclosure complaint on behalf of the dissolved trust.

The insurance agreement is a “treasure trove” of insight as to the secret workings between the servicers (who are named as the “Insured”) and MGIC.

The Plaintiff not only ceased to exist due to a merger, but the trust itself was terminated with all loans paid off long before the filing of the complaint.

Bill Paatalo and California attorney Charles Marshall believe that MGIC issue is yet another example of contrived complexity by lenders/’trusts’/purported trustee’s and ‘beneficiaries’ in mortgage transactions, particularly when recording documents pursuant to taking properties to sale, or when subverting the credit bidding rules at sale.

It is likely that the insurance carrier is calling the shots with modifications and foreclosures because the policy states approval must be provided by the insurer.

Is this another sham wherein the instructions from the banks are filtered through yet another layer of complexity?  Homeowners should inquire if there is an insurance policy on the purported trust that claims to own their loan.  Radian and AIG also offer policies like MGIC.


Charles Marshall, Esq.

Law Offices of Charles T. Marshall

415 Laurel St., #405

San Diego, CA 92101

Phone 619.807.2628


Investigator Bill Paatalo

BP Investigative Agency, LLC
P.O. Box 838

Absarokee, MT 59001
Office: (406) 328-4075

MAIN NUMBER: 202-838-NEIL (6345).

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3 Responses

  1. I hear you losingmyhomeinflorida. …. I hope you find a way out that helps your family and saves your home from these bastards.

  2. Did Mortgage Guarantee MGIC insure HAMP loan modifications, do you happen to know

  3. We all knew this was happening because even with a compel NO one can get discovery because all the mortgages have been paid of not just by the primary mortgage insurance (pmi & LMPI) but also by secondary policies. wow. am i in shock NO but I am very upset that we have all been coerced into foreclosure by many different measures. my god. you apply for a modification and they want you to pay more than the original mortgage? (why are you applying in the 1st place, the of course many folks took these modificaitons to save their homes and then in 2010 the economy took a dive (my county had an unprecedented over 15% unemployment) when a homeowner called to apply for hamp loan they were told they had to be 90 days late??? many people cried, screamed but trying to be responsible and help their families they listened to the bank, then in 90 days the bank took the applications and then never approved. denials were rampant, the worst was being dual tracked. I have letters stating that they were sending my applications for a modification but i was already served papers for foreclsoure. i am so shocked that this continues

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