Keep the envelope!!!

… the point you are (or should be) asserting is that the company being used as a source of documents and source of testimony (the apparent servicer) about the homeowner transaction had nothing to do with the origination, maintenance, administration, accounting, custody, collection or enforcement of the rights and obligations arising from the original transaction. Therefore nothing it wants to say and no document it wants to produce as a report is admissible into evidence. It is ALL HEARSAY. And if it was admitted over objection and then you develop this point, it is subject to a motion to strike, and then a motion for dismissal because there is no other evidence left to consider.

Hat tip Summer Chic

Our investigations have revealed that in more than 99% of all homeowner transactions, correspondence, notices, response to QWR, response to DVL, and response to forbearance or modification is not generated by the company claiming to be the servicer. Further, our investigations have revealed that although you might direct your letter or payment to the name of the company claiming to be a servicer, it is not received by them.

Through a network of third-party outsource contracts the actual work of receiving, depositing and disbursing the proceeds of payments is conducted by other companies. The actual work of sending you responses, correspondence and notices is also performed by third parties. And the work of accounting for payments is performed by the companies that actually received those payments — not the apparent servicer.

Those third-party companies are subject to agreements for “contract administration.”  Some of them are referred to as “corridor” agreements (most commonly with Bank of New York Mellon. None of the  third parties are subject to the control, instruction or ownership of the company that is pretending to be a servicer. Even the call center is usually manned by non   -employees or contractors of the apparent servicer. The illusion is complete. The apparent servicer is a third party to everything about the homeowner transaction but it looks like it is in charge.

Since several different companies perform different tasks that are attributed to the apparent servicer, and those companies do not communicate with each other, the responses you get will be inconsistent and even relate to the wrong transactions. It will also not be the response of an actual servicer as the term is generally understood — i.e., the company that receives and disburses money from payments received from homeowners. The structure requires one company to receive the payment, another company to account for it and still another to disburse and account for that function.

There is no signature on most correspondence you will receive because there is very little human intervention in the process. That creates a seemingly airtight argument for plausible deniability for “mistakes.” But that seal can be broken by skilled trial lawyers.

The bottom line is that you’re not corresponding with or communicating with the company claiming to be a servicer. One of the ways that you can corroborate this is by holding onto all envelopes that your receive that appear to bear the name of the company you thought was a servicer. You will note, as Summer Chic, has pointed out, that the zipcode will almost never correspond with the address of any office operated by the company claiming to be a servicer.

That corroborates but does not prove that the company is not performing servicing functions and in the courtroom, it is important to understand the difference.  But corroborating evidence is like circumstantial evidence — the more you have the more you can argue you proved the ruth of the matter you’re asserting.

And in this case, the point you are (or should be) asserting is that the company being used as a source of documents and source of testimony about the homeowner transaction had nothing to do with the origination, maintenance, administration, accounting, custody, collection or enforcement of the rights and obligations arising from the original transaction. Therefore nothing it wants to say and no document it wants to produce as a report is admissible into evidence. It is ALL HEARSAY. And if it was admitted over objection and then you develop this point, it is subject to a motion to strike, and then a motion for dismissal because there is no other evidence left to consider.

A common example to look for is who is paying the taxes. If it is CoreLogic, something is up. It obviously does not claim to be a creditor or a servicer. In discovery, the homeowner should subpoena a person from CoreLogic, duces tecum, and ask for agreements that show why CoreLogic would pay for the taxes. CoreLogic is supposedly just a computer processing company.

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Neil F Garfield, MBA, JD, 74, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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3 Responses

  1. If Bank of America is a “Servicer”, the real party who collect your money as a tax-free gift is probably JP Morgan Chase. This gang often covers for each other. They both used Countrywide Financial as a cover up.

    The address in Tapo Canyon is Bank of America’s address. They use it for many “Trustees” too

    About ALL “Default Notices” are coming from the SAME P.O. Box in Temecula CA.

  2. (Fake) REMIC loan/securities buried into other (fake) REMICs loan/securities. Layers.
    You know – like the prize that is buried in kids toys with multiple layers that must be ripped apart to “unbox.” You peel back one layer only to find another layer. Then you use your nails – to get to the next layer, and the next layer. Not easy. And Geez — been through that with 5 year old niece — who keeps wanting a certain “Prize” that she sees on the “collector’s guide” as she calls it. Have to keep paying for “blind boxes” to un-peal multiple layers and get the collectors guide prize she wants. It never comes. Poor kid – thinks it is my fault – or poor me!!!! Let’s start with representation. And why not addressed? Settlements. They cannot address. It is simple – they are quieted. Can’t discuss. I keep buying those blind boxes. I am a sucker, but niece is awfully cute 5 year old. I keep trying to un-peal the layers – and never get was is on the “collectors guide” that niece wants. Keeps going – forever. Madison and Trinity don’t help.

  3. CoreLogic pays the taxes, ReconTrust is custodian for the note, address is on Tapo Canyon Rd Simi Valley Ca, same as FannieMae address. Bank of America claims to be servicer.

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