If you are not willing to challenge the basic assumptions of the loan or debt, then you probably should not even start any challenge or defense. If you are willing to do that you will probably win or force the “dark side” into a settlement that you find favorable to your interests.
You don’t need to understand how the debt vanished. You only need to know that if you challenge its existence and therefore its owner and agents, the dark side will fail.
The inability of consumers to understand the securitization process is not a legal excuse for preying on them.
The inability of lawyers and jduges to understand the securitization process is not a crime. It simply means they must be convinced.
The existence of the process of securitization and the use of that label is not a legal or accounting substitute for transactions in which value was paid for the purchase of loans in shares distributed to investors.
- No sale of loan=No securitization.
- No Securitization=No creditor.
- No creditor=No servicer.
- No servicer=No accounting records
- No accounting records=No case against homeowners.
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According to the rules and regulations, service or notice to one of the parties involved in “servicing” is service or notice to all. But if you want to establish the foundation for later enforcement by the homeowner it is a good idea to serve notice on everyone you know, or anyone uncovered by the forensic investigation.
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ADMINISTRATIVE STRATEGY: Most people view the FDCPA and RESPA as useless and most people raise challenges to fake creditors in which they lose the case. It is a good idea to send a QWR and DVL to everyone you know is involved in the attempts to establish claims, rights, title, or interest in the administration, collection, or enforcement of alleged obligations.
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In that letter, one should specify that according to information supplied by them [either in the public domain or in correspondence and notices directly to you] the functions they identify are clearly within the definition of a servicer and are probably aiding in the process of debt collection as that term is defined.
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THEN go on to say that the money you have paid appears to have been misdirected by or on behalf of the recipient of the QWR/DVL.
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If possible you want to cite the fact that the only party that appears to be named as a creditor disclaims any knowledge of the content, existence, or administration of any unpaid loan account receivable owed by you.
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Hence it is fair to assume that they (the named creditor) are not receiving money nor making distributions to “investors.” If that is true then they have no right or authority to appoint any agent over any obligation owed by you, if any exists.
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Hence the first question is a request for a description of your functional role in the processing, administration, and enforcement of any alleged obligation owed by me and an identification of the party(ies) on whose behalf you engage in such activities or functions.
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You are writing therefore to validate the existence of a loan account receivable, the identity of the owner of that account and to validate the payment and/or receipt by that entity of money paid by you on that account. Further, you are writing to validate that money paid by you has been paid by the company named as “servicer” or whether such payments are transmitted by some other person or entity.
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These are the tracks in the sand that counteract the tracks made by the securitization players immediately after every “closing.” Without those tracks, your defenses and challenges appear to be hail mary passes. With them, you can show any court that they have repeatedly stonewalled any questions about the existence of the debt they say they are trying to collect and the existence of any authority to collect it.
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You don’t owe money to anyone who claims it just because you issued a note and mortgage. It can ONLY be an obligation owed to a creditor who can be identified. You don’t owe money at all if the loan account doesn’t exist.
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Through the process of legal reformation in the courts, a loan account might be created and it might not. But until that account exists, there is nothing to pay and there is no creditor to pay because a “creditor” can ONLY be a person or entity that owns and maintains an unpaid account receivable owed by you.
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The fact that the investment banks who control this scheme did not credit a loan account is no excuse in and of itself for the failure to create that loan account and then credit it with money received on account of that.
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Their choice to substitute a sham “servicer” who performs no services or functions relating to receipt or disbursement of money does not excuse them from compliance with laws, precedent, and standards that have evolved over centuries of legal jurisprudence. And the inability of consumers to understand the securitization process is not a legal excuse for preying on them.
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Neil F Garfield, MBA, JD, 75, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business, accounting and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.
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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.
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Yes you DO need a lawyer.
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If you wish to retain me as a legal consultant please write to me at neilfgarfield@hotmail.com.
Filed under: CORRUPTION, discovery, Discovery -Subpoena, foreclosure defenses, forensic investigation, investment banking, Investor, Pleading, Servicer, sham transactions, standing | Tagged: discovery, DVL, QWR |
What does “DVL” stand for?