Tips on the enforcement structure of nonexistent loan accounts

Most lawyers and even homeowners have heard that for a settlement or modification to be approved, it needs to go up through several layers. After comparing notes with Bill Paatalo, I believe the following is a true description of the enforcement infrastructure for virtually all transactions with homeowners arising from business schemes that serve to sell securities.

  1. The top rung in the hierarchy is a law firm that works for an investment bank.

  2. The next rung down is a law firm with almost as much authority to act for the investment banks. Generally located in Chicago or New York.

  3. The third rung down is a regional law firm that serves as the intermediary through which instructions are sent to foreclosure mills.

  4. Fourth is the foreclosure mill which receives instructions, forms, and exhibits via electronic media from unknown sources.

  5. 5th is the lawyer, who is the only person who has any contact with an intermediary that tells him or her about the witness that will testify at the final hearing and who will be claimed as an employee with familiarity” with the books and records of Ocwen (or whoever is designated as servicer).

  6. Ocwen (or whoever is designated as servicer) is a sham conduit licensing its name for use by third parties to receive, collect, digitally process and manually process payments from homeowners.

  7. The records of Ocwen in this example are not admissible as evidence of the payment history because they are barred by the hearsay rule because they were created through the functions and work of third parties who created and maintained such records.

  8. The third parties are FINTECH companies who operate under contract with intermediaries for securities brokerage firms doing business as “investment banks.”

  9. The records of FINTECH in this example are admissible as evidence of the payment history because they qualify as “business records” as an exception to the hearsay rule of evidence (i. e., law of evidence) because the records were created through the functions and work of the FINTECH parties who created and maintained such records.

I again caution both homeowners and lawyers to avoid any allegation that would require them to prove the above hierarchy. The only thing that matters is whether the currently designated claimant possesses a legally recognizable claim. And that depends upon whether the lawyer representing the foreclosure mill can prove that the “creditor” he or she designated in the notice or pleading that was filed is the owner of the underlying implied or claimed obligation (loan receivable account).
I am 100% positive, and my opinion has been corroborated by interviews that no such creditors, accounts, or claims exist.
The majority of support for believing otherwise comes from the homeowners themselves, who mostly insist that their transaction is a loan even though many of them know that they have no creditor and that the authority of the designated servicer is at best problematic. Ignorance of the legal requirements for a claimed “loan” to be legally recognized as such is what is driving millions of foreclosures.
“The currently designated claimant” can ONLY be the Plaintiff in a judicial state or the beneficiary in a nonjudicial state. It is not the designated servicer nor a trust or holders of certificates.
If a REMIC trust is referenced, that reference is included to mislead you and the court. The designated claimant in such instances is the designated trustee of a nonexistent or irrelevant trust.
It is the “bank” that does not appear as a bank. It appears solely as a trustee and not on its own behalf; therefore, the claim, despite what you might think, is not the claim of a financial institution.

Contribute to the discussion!

%d bloggers like this: