Livinglies's Weblog

IT IS ALL SIMULATION, SMOKE, MIRRORS AND LIES. YOU DON’T OWE THE DEBT THEY CLAIM YOU OWE. THEY OWE YOU MONEY. 

see also https://livinglies.me/2017/02/03/us-bank-business-rent-a-name-trustee/

AIIM is not a misspelling.

The Association for Intelligent Information Management (AIIM), founded as the National Microfilm Association, later the National Micrographics Association and then Association for Information and Image Management, is a nonprofit membership organization. AIIM provides education, market research, and certification for information professionals.

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It appears in the metadata of digitally prepared letters bearing the supposed “signature” of an officer of U.S. Bank N.A., Deutsche Bank National Trust Company, and Bank of New York Mellon — all named by third parties as trustee of a trust that supposedly owns a portfolio of loans that includes the subject of the letter or notice.

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Such letters and notices (e.g. default letters) are routinely offered in evidence in court by lawyers who assert they represent the named trustee but who have never spoken with the named trustee. Spoiler alert: the lawyer does not and never has and never will represent the interests of the bank that is named as trustee.

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Why is this important? Answer: because the letter was neither authorized nor sent by anyone in U.S. Bank nor by anyone acting on behalf of U.S. Bank.

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The letter is created using artificial intelligence, document (image) management, and the use of F4 digital signatures that are made to look like real signatures.

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The letter will state that, for example, Bank of America is the “servicer” and that the”servicer has all powers and rights to make every decision regarding the subject loan but it will disclaim the fact that U.S. Bank has title to the subject loan or even maintains a loan account receivable due from the homeowner.

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Instead, it will say that “the trust” owns the “loan,” although it will never say that anyone owns the account receivable which is the underlying obligation. And the only documents you can usually see about the alleged trust show that the trustee has no right, title, or interest in any debt, note, or mortgage nor any right, title, or interest to any payment or data entry regarding the transaction with the homeowner. In plain language, the “trustee” has no trust powers which means it is not a trust which in turn means there is no trust.

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The same AI is used to produce apparent correspondence and notices from a company named as “servicer” even though the company can’t produce any copy or original record of the account receivable showing the original balance of the loan account receivable, all credits to that account, all disbursements from the account, and the ending balance.

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Instead, the Ai consortium produces a report on the reports of data entries by 3rd and 4th parties who never testify and who are never identified as the source of any data or report. That report is called a “Payment HIStory” and it is routinely introduced as evidence in court as the unpaid loan account receivable.

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But it isn’t the loan account because if it was, it would show disbursements to “creditors.” It doesn’t show such disbursements because the money is going to investment banks and not to investors.

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And since the investments banks neither claim ownership of any loan account receivable nor do they legally or equitably own any right, title or interest to any unpaid loan account receivable allegedly due from the homeowner, they have no right to be receiving that money. But they take it anyway.

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That cycle is maintained as long as the investment banks are able to continue selling “certificates” that are falsely labeled as Residential Mortgage-Backed Securities. They’re not even securities according to the exemptions that were passed and signed into law in 1998. And they certainly are not backed by anything.

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Those certificates are merely indirect unsecured discretionary promises from a bookrunner investment bank to make scheduled payments indefinitely. When the investment bank (e.g. Lehman)  goes bankrupt the promise is over but other companies step in to control the claims to administration, collection, and enforcement of debts that were never owned by the bookrunner.

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The new bank has a windfall in every sense of the word. It cost nothing and it receives money as though it was the lender in a transaction that was only labeled as a loan but which never took the form of a loan on the books of any of the securitization players.

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The use of technology leaves regulators and law enforcement with no human being to blame for shortcomings in the fabrication of false documentation and letters. It makes prosecution for mail fraud much more difficult.

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Why is this important? Answer because your house has a lien securing payment for a debt that does not exist anywhere on the accounting ledgers, records or books of anyone as an account receivable due from you.

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All those people have been paid in full through the sale of securities in transactions that were never posted to any loan account receivable because there was no loan account receibailbe. The subterfuge described above is all smokescreen and mirrors to make it difficult for you, your attorney, and the court to understand the bottom line — there is no claim because there is no debt.

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If the sales proceeds from sales of securities attributable to the existence of your loan had been posted to your account, you would have a negative balance of around $12-$15 for each dollar of your original transaction.

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And THAT means that for every dollar you think you received it which you think was paid on your behalf the foreclosure and securitization players would owe you around $11 to $14 dollars and you would not owe anything. And di if they had disclosed the true nature of the scheme they might have avoided that liability. They were required to disclose it but they didn’t because the scheme was illegal. That is their bad, not yours.

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So stop feeling guilty and start asking for your money. Sure they will ridicule you and make you feel like you don’t know what you’re talking about. But alas for them, now you do know.

see https://livinglies.me/2017/02/03/us-bank-business-rent-a-name-trustee/

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• But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 12 years or more.
• Yes you DO need a lawyer.
• If you wish to retain me as a legal consultant please write to me at neilfgarfield@hotmail.com.

Filed under: foreclosure |