Attack the “Successors”

In analyzing the paperwork in front of you, make sure you read every word and do not accept anything said at face value. A popular ruse by foreclosure mills is the use of the word “successor.” I have been saying that this word is used as a cover-up for “we don’t have title to the debt, note or mortgage.” That means they have no loss connected with a claimed scheduled payment that was not received by a “Servicer” who had no right to receive it in the first place.

Hat tip to Gary Dubin, Esq. and Shelley Erickson.

If they have no loss, they have no claim. You don’t have a claim payable to you if you simply know that your neighbor has skipped a payment to someone. You don’t have the right to declare a default. There could be numerous reasons why the payments stopped that are none of your business. In that scenario, any action undertaken as if you did have the claim would be illegal in both the criminal and civil arenas. Such actions would include notice of substitution of trustee, a notice of default, a notice of sale, summons and complaint, etc. The practical problem is that the longer you wait to contest such actions, the more it seems like the perpetrator does have a claim.

Very often, you will see “Successor” used when it makes no sense if you even give it a moment’s thought. For example, if U.S. Bank is recited as successor to Bank of America, that is literally impossible. U.S. Bank did not buy, acquire or purchase Bank of America. They are referring, of course, to the “sale” of the position of “trustee” (without any legal trust powers) from Bank of America to U.S. Bank after Bank of America acquired LaSalle Bank, which is after LaSalle Bank had been effectively acquired by the owners of ABN AMRO, who had merged with Citi.

The key question is whether the position of a trustee if it actually exists, could ever be sold by the trustee without the advice and consent of the beneficiaries and/or the trustor/settlor. Of course, if that was alleged, i.e., that U.S. Bank had acquired the rights to be trustee through purchase, it would then need to disclose the content of the agreement of purchase and sale, and that alone would involve showing the consent of beneficiaries.

Because of the erroneous assumption/presumption that the beneficiaries of a REMIC trust are the investors, it is assumed that they must have consented. But the real beneficiaries are shown in the actual trust agreement (not the PSA most of which is a statement of future intention and not past events).

The real beneficiaries are securities brokerage firms (“investment banks”) which would, in turn, reveal that the investment banks are the primary parties in control of administration, collection, and enforcement — despite the fact that the investment banks retained no financial stake in the outcome of any transaction that was labeled as a loan.

People ask me whether there are cases supporting my analysis. there are hundreds of them, but they are rarely reviewed, much less used, by any homeowner or lawyer. Here is one such example from 2019 that has never been overruled, citing many other cases:

Certo v. Bank of N.Y. Mellon, 268 So. 3d 901, 903 (Fla. Dist. Ct. App. 2019) (“On the other hand, it is insufficient for the plaintiff to rely on its acquisition of the other entity. See Fielding v. PNC Bank Nat’l Ass’n , 239 So.3d 140, 142-43 (Fla. 5th DCA 2018) ; Kyser v. Bank of Am., N.A. , 186 So.3d 58, 61 (Fla. 1st DCA 2016) (despite testimony of merger, witness gave no testimony as to what assets exactly were acquired); Fiorito v. JP Morgan Chase Bank, Nat’l Ass’n , 174 So.3d 519, 520-21 (Fla. 4th DCA 2015) (testimony one entity “took over” another is not sufficient); Lamb v. Nationstar Mortg., LLC , 174 So.3d 1039, 1041 (Fla. 4th DCA 2015) (listing cases). Similarly, listing party status as “successor by merger” or claiming a title is not sufficient; a plaintiff must support its claim by evidence. See Buckingham v. Bank of Am., N.A. , 230 So.3d 923, 924-25 (Fla. 2d DCA 2017) (holding words “successor by merger” were insufficient to “establish the merger, let alone that the [plaintiff] acquired all of [the successor’s] assets”); DiGiovanni v. Deutsche Bank Nat’l Trust Co. , 226 So.3d 984, 988-89 (Fla. 2d DCA 2017) (finding no standing where Deutsche presented no evidence “Bankers Trust had been renamed Deutsche Bank”); Murray v. HSBC Bank USA , 157 So.3d 355, 358-59 (Fla. 4th DCA 2015) (explaining “Option One California” was not “Option One Mortgage Corporation”); Verizzo v. Bank of N.Y. , 28 So.3d 976, 977, 978 (Fla. 2d DCA 2010) (explaining plaintiff listing itself as “successor trustee” was insufficient).”)

Certo v. Bank of N.Y. Mellon, 268 So. 3d 901, 903 (Fla. Dist. Ct. App. 2019) (“The trouble here, similar to the trouble in Conley , is Mellon’s link to Bank of NY and Bank of NY’s link to JP Morgan. Because the final special indorsement is to JP Morgan, Mellon needed to evidence how it obtained the Note or interest. It claims to have it because Bank of NY is a successor to JP Morgan and Mellon is the new Bank of NY. However, the record does not establish either of those necessary links.”)

The bottom line here is that there is no succession regardless of how many times they assert it. Attacking the pleadings, motions, and exhibits with your own motions, answers, affirmative defenses and potential counterclaims is probably a good tactical response to the assertion of this type of lie perpetrators use in the courts every day. Bernie Madoff got away with his Ponzi scheme for decades. It was in most ways identical to what the investment banks have done with what they called “residential lending.”
The banks called it “securitization” without ever selling a single loan to investors or any part thereof. Madoff called it options trading without ever trading a single option. It was all based upon the “hidden magic” and “genius” of some secret formula that nobody else could access. Compare it yourself. Madoff’s scheme, now exposed, reveals what was really happening with homeowner transactions, investor transactions, and “foreclosures” of nonexistent claims.
THE BIG QUESTION IS WHERE ARE THE REGULATORS? THEY MISSED IT WITH MADOFF DESPITE CLEAR SIGNS OF WRONGDOING AND THEY ARE DOING IT AGAIN WITH INVESTMENT BANKS TOUTING NONEXISTENT SECURITIZATION.
DID YOU LIKE THIS ARTICLE?

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.
Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Click

Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In  the meanwhile you can order any of the following:
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
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.
  • 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.
Please visit www.lendinglies.com for more information.

Summary Judgment is the way that the foreclosure mills avoid answering reasonable discovery demands.

The bottom line is that if you follow the rules, and demand discovery of actual proof of payment (citing the form that such proof must take or asking what form such payment took), the foreclosure will file anything other than a response to your demands. If you don’t know what to do about that or if you don’t do anything about that you are headed for defeat. But if you do follow up relentlessly you are more likely than not, headed for victory. The reason? There is no legal claim.

The simple answer is that they do it because they can and because they generally get away with it, because most of the time their opposition is a layperson who knows nothing about the rules of civil procedure. JUdgment gets entered and the homeowner loses their largest investment, their home, and usually their lifestyle. sometimes they lose their marriages too or their lives when they commit suicide.

As a result of my recent broadcast on the Neil Garfield Show, I received a number of emails and messages r relating to the topic of my show on Motions to Compel. they all spell out the same scenario.

Homeowner files timely and proper demands for discovery in the form of interrogatories, request to produce, and request for admissions. The demands are specific, clear, and related to the core issues of the foreclosure action — the existence, ownership, and authority to administer, enforce or collect the alleged debt. The current status, as per the judge, is that legal presumptions are being applied because of the apparent facial validity of the documents upon which the foreclosure mill relies in pursuit of foreclosure.

In oversimplified language, the discovery demands are for specific documents that would either corroborate the presumption that the debt exists or that would rebut that presumption. Most lawyers and homeowners don’t want to ask that because they’re afraid of the answer. They need not be afraid. In cases where securitization is at play, there will be no answer.

Additional discovery is likewise sought as to any facts or documents that actually show payment of value for the underlying obligation as set forth as a condition precedent to filing foreclosure in Article 9 §203 UCC adopted in all U.S. jurisdictions verbatim. And lastly, such discovery demands seek factual proof to corroborate or rebut the presumption that the designated claimant (Plaintiff or beneficiary) possesses or was legally granted authority to administer, collect or enforce the alleged debt by someone who possessed such legal authority.

The response — always the same with minor variations — is either no answer at all or motions to extend the period to answer the discovery demands or occasionally a response that objects to the demand or which answers the demand with evasive responses. The homeowner or his/her lawyer files a motion to compel proper responses to the demands for discovery. The typical error here is that no hearing is set and so you just have a motion sitting there which means virtually nothing.

But before you can do anything beyond filing the motion to compel, the foreclosure mill files a Motion for Summary Judgment. They manage to get it set for hearing before you are able to get your own motion to compel set for hearing. No order has obviously been entered by the judge commanding the foreclosure mill to obey the rules of discovery and frankly, we have seen a number of cases where even after such an order is granted, the judge has granted summary judgment anyway. I think this is obvious reversible error but on appeal, the panel looks for anything that could conceivably justify the departure from the rules by the trial judge.

Like discovery demands, the motion to compel must be specific and clear. You are contesting the presumption that the named designated claimant is owed any legal debt by you. You are entitled to seek discovery from your opposition that would reveal facts that could constitute admissible evidence on that question. Those are the rules. YOu complied with eh rules and now it’s their turn. they didn’t do it. You want an order compelling them to play by the rules.

So the first thing you need to do is make a big deal bout getting your motion to compel heard by the court and you must file affidavits in opposition to the motion for summary judgment or else the court is required to accept the recitations of uncontested facts submitted by the foreclosure mill as true —even though the rules say the court should also look to the pleadings, where you should have laid out your narrative about how the named designated claimant is not owed any money, does not own the debt, note or mortgage and has no right to administer, collect or enforce the alleged debt.

If you have followed the rules, you should be able to say without any disagreement from anyone, that they filed their motion for summary judgment while your requests for discovery were outstanding and in lieu of answering such requests. You would then argue that least for the purpose of the hearing on the motion for summary judgment, that the homeowner is entitled to a negative inference regarding the existence, ownership, and authority over the debt, note and mortgage.

That means that for purposes of the hearing on the motion for summary judgment filed by the foreclosure mill, the debt, ownership, and authority do not exist, and therefore the matter must go to trial. congruent with that the homeowner should seek the order compelling responses and then follow up with 2d motions to compel and motions for sanctions culminating in a motion for monetary and evidentiary sanctions that would end the case.

The bottom line is that if you follow the rules, and demand discovery of actual proof of payment (citing the form that such proof must take or asking what form such payment took), the foreclosure will file anything other than a response to your demands. If you don’t know what to do about that or if you don’t do anything about that you are headed for defeat. But if you do follow up relentlessly you are more likely than not, headed for victory. The reason? There is no legal claim.
DID YOU LIKE THIS ARTICLE?

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.
Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Click

Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In  the meanwhile you can order any of the following:
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
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.
  • 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.

Investment banks are pushing technical agenda on “integrated records” that would deny homeowners’ due process.

When you lose your home in foreclosure, it is an involuntary gift to an investment bank that has already earned 12 times the amount of the transaction with you. The investment bank does NOT record the interest, principal or forced sale payment on any loan account receivable because there is no such account.

Once again investment banks are attempting to subvert judicial process by technnical arguments that will ahve sweeping affects if dopted by the courts. The argument for “integrated records” pending in the Hawaii Supreme Court is nothing more than a pitch to have a series of reports admitted into evidence as integrated records, thus avoiding hearsay, foundation and even relevance objections. 

The problem with foreclosure litigation from the beginning is the confusion by everyone between reports and records. Records refers to the loan account receivable and if it was shown (and if it existed) it would show the first payment to or on behalf of the homeowner, and all debits and credits to that loan account receivable, including payments to the creditor everyone is presuming to exist.

It would all be so clear — identity of the lender and identity of the current owner of the loan account receivable. Most homeowner defenses would melt away once that was produced — as it was ALWAYS produced before the era of securitization.

It is the same with the status of a holder in due coruse. Such status confers immunity to many homewoners defenses. But in the context of securitization nobody ever pelads that status becasue it woudl require them to prove payment, in addition to good faith and a lack of knowledge of the maker’s defenses as to the note.

*

The problem with the agenda of “integrated records” is that it lacks a foundation. Under their theory, it would not require anything more than a witness declaring that the “records” were integrated. Proper foundation requires that each part of the integrated record has sufficient foundation to be admitted on its own. That means that something more than a hearsay report is needed.

*
As dozens of cases have shown in depositions and trial testimony there is no servicing done by any of the known servicers. Thus their reports are not records of anything. All such servicers without exception are posing as servicers, just like REMIC trustees are posing as Trustees, and MERS is imposing as mortgagee.
*
They are paid for their service as actors portraying something that is not real. Lockbox contracts require all payments to be forwarded to a physical address or electronic financial account bearing the name of the “servicer” but which is completely outside the control of the servicer.
*
Those receipts are noted by automation on a server that is not owned, controlled or maintained by the “servicer.” See articles on Black Knight and CoreLogic. The control of the account and the money in it is vested solely in the Master Servicer who is always the bookrunner investment bank that started the securitization scheme. And the REMIC trustee is also the same bookrunner despite a different name being used. And the originator is just a placeholder for the same bookrunner as is MERS. None of the characters are real.
 *
This becomes more acute when a report becomes confused with a record. The report is hearsay about the record —- including the notion of whether the record exists at all. Those records would show the establishment of the loan account receivable and all credits and all debits from the account. They would show payments to investors. That is never shown in court or otherwise even to regulators. And the reason for that is that the REMIC trustee and servicer have absolutely no contact with investors or even knowledge of their identity, much less paying them.
*
So the attempt here is to allow a nonexistent loan account receivable to be presumed to exist because it is part of an integrated series of reports rather than legally admissible records. In plain language that means they want the court to proclaim that the investment banks succeeded at faking it until they made it. When homeowners make a payment no investor benefits. When they don’t make a payment, no investor or successor gets hurt.
*
When you lose your home in foreclosure, it is an involuntary gift to an investment bank that has already earned 12 times the amount of the transaction with you. The investment bank does NOT record the interest, principal or forced sale payment on any loan account receivable because there is no such account.
DID YOU LIKE THIS ARTICLE?

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Click

Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In  the meanwhile you can order any of the following:
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
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.
  • 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.
Please visit www.lendinglies.com for more information.

WHAT IS A SERVICER ADVANCE? According to Ocwen it has zero credit risk and is not really an advance

One place where securitization players and foreclosure players don’t lie is in reports that are formally filed with the SEC. So in my research, I found a document in which Ocwen describes itself and which is subject to judicial notice because it is a government document downloaded from the Sec.gov website. The filing of 8k and other reports required by securities laws and regulations is an official act. It is a sworn representation by the issuer (Ocwen here) that the facts being presented are accurate and true on penalty of going to jail. Here we see a filing that identifies the people who would go to jail if the facts were not at least arguably accurate.

THIS IS ALSO A MENU OF INDIVIDUALS WHO COULD BE SUED INDIVIDUALLY FOR PARTICIPATING IN FRAUDULENT, NEGLIGENT ENTERPRISES AND WRONGFUL FORECLOSURES. 

======

NOTE ON JUDICIAL NOTICE AND SEC.GOV

Note my words here. In most court cases, the documents used by foreclosure mills are merely self-serving documents laundered through the SEC website. If you have the credentials you can upload anything including but not limited to porn.

So for court purposes only they upload as much as they can to the SEC.gov website — and then download it with “sec.gov” in the heading. Then they produce it as a governent document (which it isn’t) and ask for judicial notice. Without opposition, the judge grants the motion for judicial notice and that practically means the case is over.

Most pro se litigants don’t know what judiclal notice is and most lawyers and homeowners take it for granted that they can’t oppose judical notice for a government document. they forget to inquire whether that IS a government document and in virtually ALL cases, it is not a govenrment document — and therefore (1) it is not subject to judicial notice and (2) the attempt to use it as such is subject to a motion for contempt and sanctions — if you file the motion. This is another example of how the banks are using pure fabrications and weaponizing civil procedure to support their thieving scheme.

see https://shareholders.ocwen.com/static-files/24390846-8787-4a36-9c30-53b5b5f0a0e5

OCWEN 8K 0001193125-13-015500

Note that this is a “Lender’s Presentation.” That means it is a presentation to prospective lenders. Any lies would be subject to criminal prosecution not only for violations of securities laws but also for bank fraud.

Take a look at this from Ocwen’s 8k report to the SEC in 2013: Note how the filing is devoid of any representation that Ocwen is a lender, successor lender, or attorney in fact for anyone.

Note how Ocwen is basically always teetering close to bankruptcy because it has very few assets and maintains a business plan that is always based entirely on income from “servicing.”

Note how on page 20 they represent Ocwen, BOA servicing, Chase servicing, Saxon Servicing, Litton Servicing, and HomeEq Servicing to all be the same thing. Since 2013 you can add PHH, REZ, and other entities or names that were used ficitiously.

THEN ON PAGE 36 THEY ANSWER THE QUESTION: WHAT IS A SERVICER ADVANCE?

  1. Note that they use the word “advance” in quotes, just like I did here. That is because if they said it was an advance they would be lying. There is no advance. This is a cover-up for the fact that there is no loss to anyone when scheduled payments are not paid by homeowners. So there is no need for any advance, much less by a “servicer”. No company would accept responsibility for making such advances. Imagine if your bookkeeper said “That’s ok, if they don’t pay you, I will.” Imagine the fees that would need to be paid for any company to incur such liability. Imagine insurance and reserve deposits required. None of those things exist.
  2. So the advance does not come from Ocwen’s balance sheet and it actually does not exist. This is cover for the Master servicer putting in a claim for nonexistent advances. All payments to creditors of the securities brokerage firm (i.e., investors who purchased uncertificated certificates) are made from a huge such fund that is referred to in other documents as a reserve pool which consists of (1) proceeds from the sale of the certificates (2) money deposited with permission of the stockbroker who started this scheme including money received from homeowners and (c) proceeds of sales from other similar schemes. It is all commingled and obviously, this has nothing to do with any homeowner (aka “borrower”).
  3. Next, they say that “servicers incur funding costs on these non-interest bearing advances but do not bear credit risk.” Translation: there is no advance.  But we claim funding costs in order to get paid for pretending that servicer advances are real thus justifying fees for nonexistent services.
  4. Next, they say that “Advances are recoverable at the ‘top of the waterfall’ first from proceeds at a loan level, and then if those funds are insufficient, from cash collected from other loans in an RMBS trust.” Translation: Advances are recoverable but not by Ocwen. It never sees that “recovery.” The money is taken first from “a loan level.” which means it could be any loan. That is reinforced by the remaining words which refer to other loans in any RMBS trust. And that is why I say that there is no loss to anyone in any individual loan. It’s impossible. As long as there is money anywhere from investors, homeowners, or insurance for the certificates, everyone gets paid. So far there has always been money available not only to make all payments to everyone but also to for exceedingly high profits like what we saw with Goldman Sachs in 2009 when they forced the AIG bailout not to cover losses, but rather to cover additional profits.
  5. And lastly, they make the silly statement that “A servicer” can ‘stop advance’ if it believes that an advance will not be recoverable from the borrower.” This is silly because first of all there are no advances except from other people’s money with which Ocwen has no control. Second, because recovery from a borrower is irrelevant as described above. This statement is made solely as part of the coordinated illusion created by the stockbroker (aka investment bank) that started the scheme. It is made to reinforce the false representation that there are any loans, that there is any loan receivable account on the ledgers of anyone, and that therefore those accounts need servicing.
P.S. Note the very beginning where is says: “On January 17, 2013, Ocwen Financial Corporation (“Ocwen”) is making a presentation at a meeting among potential lenders for the proposed Senior Secured Term Loan facility. Barclays, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as Joint Lead Arrangers and Joint Bookrunning Managers for the facility. Barclays Bank PLC is acting as Sole Syndication Agent and Administrative Agent for the facility. A copy of Ocwen’s slide presentation for such conference is attached as Exhibit 99.1 hereto. Such slide presentation shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.” This means they are trying to say, unsuccessfully that even though they’re filing it with the SEC it shouldn’t count against them if they’re lying. 
DID YOU LIKE THIS ARTICLE?

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Click

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In  the meanwhile you can order any of the following:
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

 

 

 

 

 

Servicers relent one case at a time: The Great Escrow Balance Game. Getting money just because you asked for it.

Playing with the escrow balance and asking for more money is one of many games the “servicers” play in the Great Securitization game. Relentlessness in challenging (1) the authority of the company pretending to be a servicer and (2) their rendition of the escrow balance and reconciliation of their request for more money is how you eliminate the fake shortgage and get a refund. Don’t assume it is a honest mistake. Assume instead that they are trying to steal from you because in most cases that is what they are doing.

The truth is that without having authority to act they have no right to administer, collect or enforce any payment from homeowners under any circumstances, let alone escrow money. And if there is no creditor that they can identify that maintains on their accounting ledgers, an entry establishing the  existence of a loan account receivable, then there is nobody to authorize them.

This is not some plot by 30 million homeowners. It is a defective scheme in which Wall Street banks made trillions of dollars. Don’t blame or penalize the homeowner. Blame and penalize the banks.

Here is one such example: After a homeowner steadfastly refused to accept the demand for more escrow money, this is what they received:

SLS promptly re-ran its escrow analysis upon receipt of your below email in late December 2020. As a result, an updated escrow analysis is attached to replace the previous one with a new payment beginning February 1, 2021 in the amount of $ 1,502.07. This change reflects a credit that was issued in the amount of $2,773.82. Accordingly, escrow shortage of $2,032.29 from the December 2020 statement has been removed and the remaining $741.53 has been issued to you directly as a refund. You should be receiving those funds by check delivered by UPS in the coming days. This new escrow analysis will be timely filed with the Bankruptcy Court. Sincerely, Melissa Licker
Of course, no explanation was offered as to how they got it so wrong.
DID YOU LIKE THIS ARTICLE?

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Click

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In  the meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

 

DO WE REALLY WANT TO LOSE CREDITORS IN CONSUMER TRANSACTIONS?

ALL EXISTING LAW AGREES WITH MY MAIN POINT: There is no basis for claiming you are a creditor unless you own the debt or represent someone who owns the debt. Since 2000 and maybe before that we have abandoned real creditors and steadily transformed administration, collection, and enforcement of alleged debts to include virtual creditors who neither own the debt nor receive the proceeds of collection. And there is no basis for claiming you are a servicer if you (a) maintain no custodial accounts and (b) you are not paying the money you collect to a creditor.

I HAVE WON NEARLY ALL CASES ON THE BASIS OF CHALLENGING THE EXISTENCE, OWNERSHIP, AND ENFORCEMENT OF THE ALLEGED DEBT. It’s a matter of court record.

AND YET — CFPB, FTC, AND SEC, ALONG WITH STATE AND FEDERAL COURTS, HAVE ALLOWED FOR THE “INSITUTIONALIZATION” OF VIRTUAL CREDITORS INSTEAD OF REAL ONES. Complaints to CFPB based upon challenges to the existence, ownership, and right to enforce the alleged debt result in gibberish answered from companies who have no knowledge and say nothing about the identity of the alleged creditor or the date of the transaction where value was paid one exchange for a conveyance of ownership of the alleged underlying obligation as required by Article 9§203 of the UCC adopted in all 50 states.

THE RESULT IS THAT ADMINISTRATION, COLLECTION, AND ENFORCEMENT OF THE ALLEGED DEBT RESULTS IN BONUSES, COMMISSIONS, AND OTHER COMPENSATION INSTEAD OF PAYING DOWN (REDUCING) THE PRESUMED LOAN ACCOUNT RECEIVABLE ON THE ACCOUNTING LEDGERS OF SOME COMPANY OR PERSON. Is this what we really want? Do we really want to ignore laws established over centuries?

BOTTOM LINE: THE BASICS OF ALL LENDING TRANSACTIONS HAVE BEEN CHANGED BEYOND RECOGNITION:

  • There is no lending anymore.
  • There are consumers who wish to be borrowers but there is nobody who wants to be a lender.
  • There are inducements to issue a note, a mortgage or a security instrument in an auto loan — even though no loan account is ever established.
  • Money paid to consumers is ephemeral — like a magic trick. The money paid to consumers is the inducement to sign the papers. But the virtual or pretender lender wants that money back.
  • The consumer thinks he/she is buying a loan product but the “lender” is neither lending nor does it have any lending intent. The “lender” neither funds the loan nor does it have any risk of loss.
*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In the meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS, AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Sometimes the client figures it out better than the lawyer

The problem has always been how to present this counterintuitive reality to a judge who is convinced that securitization of a loan DID occur even though the transaction was not in fact a loan and no sale occurred.

After decades of litigating and teaching litigation, the one common theme throughout my career has been the knowledge that often your best ideas come from the client, who is unencumbered by thoughts of what can’t be done.

One such client of mine in the state of Hawaii asked a simple question. She asked whether the homeowner, post-foreclosure, could ask for surplus funds. Surplus funds are defined by statute to mean that once the debt is paid including all expenses of enforcement, the remainder of the proceeds of a forced sale of the property should be returned to the homeowner. This is basic law applied in all jurisdictions. The “lender” does not get a bonus — at least not legally.

So that sparked some thought and analysis. If the claim was based on a nonexistent loss, then the entire proceeds of the sale should be turned over to the homeowner. In addition,  the filing of a motion or petition for accounting for the money proceeds from the sale could reveal the nonexistence of the implied loss and the nonexistent claim. That, in turn, could lead to a claim for sanctions or damages for filing a frivolous lawsuit. And that might all be included in a petition for declaratory, injunctive, and supplemental relief in which the court is asked to declare fee title, unencumbered, vested in the homeowner.

In any event, procedurally, the demand for an accounting followed by a motion to enforce the demand seems appropriate and should send the foreclosure mill spiraling. You see, the money never goes to the named claimant where the alleged claim was based upon securitization of the debt — because the loan, debt, note, and mortgage were never securitized. (Securitization means breaking up an asset into component parts that are sold to investors in pro-rata shares. Such sales never occurred. Securities were sold but they did not represent an ownership interest in any asset.)

The problem has always been how to present this counterintuitive reality to a judge who is convinced that securitization of a loan DID occur even though the transaction was not in fact a loan and no sale occurred.

The answer might be, in addition to the defensive strategies suggested on these pages, that instead of an appeal you file a motion to compel an accounting and a motion to open limited discovery on the accounting. The motion is actually a motion to compel the return of surplus cash generated from the sale of the property. Of course, that might need to wait until the sale to a third party but there are good arguments for filing it when the credit bid is offered by the named claimant.

Thus far, the banks have been selling property and then depositing the cash into an account controlled by a concealed investment bank notwithstanding the naming of the sham conduit claimant in whose name the foreclosure process was started. Frequent sleight of hand name changes occurs post-judgment or even post-sale.

It is difficult to imagine any court denying the request for the return of excess funds. Obviously, the argument from the foreclosure mill would be something like this: “The loss has already been established as the law of the case and the sale price was less than the loss, so there is no surplus.” But that argument flies in the face of current judicial doctrine which holds that even in a default situation you must still prove the damages.

And once the court is convinced you to have a right to see what happened to the money, it is difficult to imagine that the court would not order the foreclosure mill to produce the accounting. Like a request for identification of the creditor and the loan account receivable, such orders will be ignored because they must be ignored — even at the expense of sanctions. And the reason is quite obvious after reviewing thousands of cases — there is no loan account, there is no loss and there is no creditor despite all appearances to the contrary.

So if they file a false accounting they are probably committing or suborning perjury. And I don’t think many people are willing to sign such documents for any amount of money unless they don’t value their freedom.

The interesting thing about procedural rules is that the judge is more than happy to apply them if they can get rid of the case. In this case, a motion for sanctions for failure to comply with the homeowner’s request and the judge’s order will most likely produce either a direct win for the homeowner or a very satisfactory settlement — albeit with someone who had no right to settle with you.

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In the meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS, AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

After Complaints to AG and CFPB Follow UP!

If you are not going to follow up on complaints to your attorney general or the CFPB, then you shouldn’t have filed the complaint in the first place. If you are not going to follow up on demand for discovery, don’t bother filing them.

The simple truth is that they never answer the question. They simply use the opportunity to propagate the lie that a loan was securitized when in fact no sale of the loan ever occurred.

Most people and many lawyers fail to recognize a simple legal strategy that is available to them, to whit: that the failure to respond to simple basic questions about The ownership and existence of the underlying obligation open the door for a clear win for the homeowner.

 

Your opposition is simply following the usual playbook. They are missed directing your question. And you should point that out to the AG office or CFPB after you file the complaint.

*
The basic thrust of your question is the identification of the creditor who maintains an account receivable for the underlying obligation, and whether the Obligation still exists.
*
Their answer Is that the word salad that they are using to label a virtual creditor (if it exists as a legal entity), is the note holder. You were not asking that. And if you did ask that question you would still be asking the same question — how did they become the “holder.”
*
Remember that a holder is someone in possession of the note with the right to enforce it. What everyone seems to forget is to ask the question of how the party in possession of the note received the right to enforce (which can only be granted by the party who owns the obligation or who represents someone who owns the obligation).
*
And remember nobody gets to own an obligation just because they say so. In order to own an obligation, a party must have entered into a legally recognizable transaction in which they purchased it for value pursuant to Article 9 §203 UCC as adopted by all 50 states. All states also recognize that a purported conveyance of an interest in a mortgage without a conveyance of ownership in the underlying obligation is a legal nullity. 
*
Most states allow a rebuttable presumption arising from the possession of the note. The legal fiction adopted in most states is that if you have the note in your possession, or at least if you claim to have a note in your possession, that there must’ve been a delivery of the physical note along with the authority to enforce it.
*
Homeowners who fail to rebut this presumption lose their case and their home.
*
Homeowners who fail to understand legal procedure do not understand that the inability of the opposition to provide legally required answered to the basic questions about existence and ownership of the underlying obligation can easily be used as the basis to rebut that presumption.
 *
At the end of that claimed transaction, the purchasing party must claim ownership. If it says it is the owner of the obligation, then it must have entries on its accounting ledgers and banking statements that show payment of value for the underlying debt and the establishment of a loan account receivable.
 *

It is possible that the entire Wall Street strategy has been based upon the gamble that nobody other than accountants understands double-entry bookkeeping — the only bookkeeping system legally recognized as the starting point of any claim of ownership or transaction about anything.

 *

Without real transactions and real entries in their ledgers, nobody can claim ownership of the obligation. And nobody can claim authority from the owner of the obligation unless that mysterious virtual creditor has entered into transactions and currently maintains ownership of a loan account receivable. 

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Why You Need to Understand the Truth and How to Use It to Successfully Defend Foreclosure Cases

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

You don’t need to believe me. You don’t need proof that what I am saying is true. You have every right in every court to file demands for discovery relating to the existence and ownership of the debt. Ask any lawyer or any judge. They will affirm this to be true. And ask any accountant. The debt exists only if someone maintains a current ledger entry on their own books of record that shows they paid value for the underlying obligation, along with having supporting documentation (proof of payment). If they didn’t pay value then they don’t own it — under both accounting rules and the laws of every jurisdiction.

Everyone is complaining about why homeowners are not winning more cases. They all seem to have their own specific grievance theory about lawyers, judges, regulators etc. But the real problem is the homeowners themselves. They simply won’t accept the fact that a claim filed against them has absolutely no merit.

So the first thing they do is admit the existence of the debt, the existence of delinquency, the existence of default, and then they go on to explain why they should be let out of what they have already admitted was a legitimate debt that is unpaid  — contrary to the agreement they signed. After losing the case, homeowners claim bias and any other theory that distracts from their own personal responsibility for their loss.

No judge is a mind reader or an investment banker. Acting as though a judge should be a mind reader or an investment banker is foolishness.

If the claim filed against you arises as a result of a claim of securitization of a debt, the claim is false. There was no securitization of debt. There was no sale of any debt. There is no authority arising from the securitization of debt. The document submitted by a self-proclaimed servicer both irrelevant and inadmissible as evidence in court — but only if a timely objection is raised. That is how the system works.

The same thing holds true when the named claimant is not a trustee. In most cases, the transaction was still the reference point for securitization, to wit: the issuance and sale of securities. And those securities were not conveyances of any right, title, or interest in any debt, note, or mortgage. So the fact that the securities were bets on data contained in discretionary reports issued by the” investment bank” posing as “Master Servicer” does not mean the debt was sold. It wasn’t. Like the supposed “REMIC Trustee” the named claimant has no loss and in fact has no interest in the outcome of litigation — except as a profiteer.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

This is reminiscent of the repeated reports to the SEC of wrongdoing by Bernie Madoff. The reports were regarded as too absurd to be true on the scale that was reported — until 10 years later when Madoff himself admitted all charges and was sent to prison. Just because a lie is a whopper doesn’t mean that it can be turned into truth. Eventually, financial historians are going to see “Securitization” for what it is — a PONZI scheme. Nothing was securitized.

It is understandable that Homeowners are a bit put off by the apparent complexity of securitization. But it becomes much simpler when you realize that securitization never occurred. The securities that were issued and sold to investors did not represent ownership of any debt, note, mortgage, or payment.

It is also understandable that homeowners are not well-versed in court procedure, the burden of proof, or the rules of evidence. And it is even understandable for homeowners to assume that their debt still exists. We can’t expect homeowners to understand what has been completely concealed from them.

Because of limited judicial resources, the courts were forced into running roughshod over the rights of homeowners — solely because of the assumption that the debt existed and that somehow the money proceeds of the forced sale would find its way into the hands of investors who had directly or indirectly purchased the transactions that were labeled as loans.

  • Removing the assumption of an existing debt the homeowner who properly and timely files a denial of claims and or who files affirmative defenses should be permitted to rebut the legal presumptions arising from apparently facially valid documentation and to contest the actual facial validity of such instruments.
  • Removing the assumption of an existing debt requires the trial court to treat discovery demands seriously rather than as an annoyance.
  • Removing the assumption of an existing debt requires the trial court to strictly apply existing law instead of inventing new law.

If a lawyer meets a prospective client who admits liability, the lawyer is going to look for other means to protect the client from enforcement. If a lawyer admits liability on behalf of his client the judge is going to consider technical factors in the enforcement of the liability. But the judge is not going to deny enforcement on the basis that the liability does not exist. If the homeowner and the lawyer failed to bring that issue up, then it is not an issue that will be litigated. Those are the rules. That is not bias.

There is nothing more basic to a foreclosure action than the existence and ownership of the underlying obligation. Homeowners and their lawyers have made the mistake of trying to prove the true facts of securitization or lack thereof. But all they really need to do is challenge the presumptions raised by the allegations and exhibits of the claimant — during the process of discovery. They fear this path because they fear the claim is real.

The problem is that neither homeowners nor their attorneys are going to do that. Instead, they are going to look for a magic bullet in the form of technical deficiencies of the allegations or exhibits. This almost guarantees that the judge will order foreclosure, a sale will occur and the homeowner will be evicted. How would you feel if somebody owed YOU money and they got out of it by poiinting out some minor technical deficiency?

You don’t need to believe me. You don’t need proof that what I am saying is true. You have every right in every court to file demands for discovery relating to the existence and ownership of the debt. Ask any lawyer or any judge. They will affirm this to be true. And ask any accountant. The debt exists only if someone maintains a current ledger entry on their own books of record that shows they paid value for the underlying obligation, along with having supporting documentation (proof of payment). If they didn’t pay value then they don’t own it — under both accounting rules and the laws of every jurisdiction.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

But the burden is on the homeowner to raise the objections. The burden is on the homeowner to deny the allegations and challenge the exhibits. If the homeowner fails to timely raise the issues in proper form, then the debt does exist for purposes of litigating the case — even if there is no debt in real life. Courtrooms are not real life. All courtroom decisions are legal fictions in which the judge’s finding of fact is final even if it differs from the real world. If it were otherwise, courts could not work and no disputes would be resolved — ever. 

Your expectation that lawyers and judges should know about all of this is misplaced. The only people who would know this information for a fact are people like me. I was an actual practicing investment banker and I was physically present in the room when the seeds of the current scheme of securitization were discussed way back in 1970.

When I later read that someone figured out a way to separate the debt from a “mortgage-backed security” I understood completely what that meant and how it would be misconstrued by homeowners, lawyers, judges, and regulators. The Wall Street banks gambled that the sheer magnitude of their lie would overcome any objections. They were right.

But they don’t have to be right for future litigation. And that is why I am filing amicus briefs and drafting petitions for rule changes in all 50 states. Eventually, courts are going to have that moment when they realize what is going on. That day will be moved closer by you acting on what I say here on these pages.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In the meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation. Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

OK Let’s Try It Anyway — Amicus Briefs

We now have an opportunity to attack the most absurd of the decisions on 2 grounds, to wit: The first is that the decisions are wrong based upon existing judicial doctrine, statutory law, and court precedent. The second is that the decisions are wrong because the justification for bending the law is also wrong.

 

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

I know what I said and I meant it. But I have come under a lot of pressure particularly from one person in Hawaii whose financial contributions have been a substantial factor in keeping this effort alive. So I am drafting and filing an amicus brief for filing in Hawaii and I will do the same, assuming financial support is forthcoming, in other states. I still think it is a long shot but I am also convinced that the mere filing will bring more attention to the facts.

The Hawaii case has similarities to most other cases brought by people claiming ownership or authority resulting from the securitization of debt. But in one case, the court went far off the reservation to prevent the homeowner from winning the case despite clear law in Hawaii that the statute of limitations on the obligation, even if it existed, had long run out. That is not a contested issue in the case. Hawaii is not Florida and the Bartram case does not apply. The statute has run and that is the end of it.

So the foreclosure mill invented something out of thin air. It offered up the following theory: the statute of limitations for a claim based on adverse possession expires in 20 years — obviously longer than the actual law for collecting on claims for money in Hawaii. When first raised I told my client that she need not worry about it. The theory was patently absurd. No judge could possibly rule that way. I was wrong.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

This is an example of judicial overreach on a grand scale.

First of all, adverse possession is a claim brought by a landowner. It does not expire in 20 years. It starts in 20 years — after a landowner has been occupying land owned by someone else for 20 consecutive years without interruption. A party claiming to be a mortgagee is not a landowner and there is no allegation or any facts in this case that the named “mortgagee” ever occupied or owned any land.

All of this is traceable to one fact — the nearly universal consensus about the status and ownership of the loans is wrong — but is now institutionalized by those who think they understand loans but know absolutely nothing about investment banking — much less understand the intersection of investment banking and lending. This forms the background for ultra vires actions in the courts.

There was no loan. I know, I know. If it looks like a duck etc. That duck is a hologram with no substance in the real world. The reason it looks like a loan is because it was labeled as a loan.

In most cases, it was a securities deal that was concealed from the homeowner or prospective homeowner. In the end, nobody was holding a loan account receivable as an entry on their ledger therefore nobody could claim ownership of any loan account. And that’s why supposed transfers of the loan account had to be fabricated, forged, backdated, and filled with misinformation.

Viewed from that perspective, each homeowner or prospective homeowner should have been paid compensation for their role as an issuer in the securitization scheme. Because this game was concealed we have no way of knowing what the outcome of bargaining would have been had the homeowner known that they were being drafted into a concealed securitization scheme.

But we do know the value that the securitization players used for payment to the homeowner, to wit: The principal amount of the transaction paid to the homeowner. And we now know that “at the end of the day” nobody maintained ownership of any loan, so the transaction could not be considered a loan — i.e., there was no lender at the end of the day.

Viewed from that perspective, foreclosure is an attempt to get back the consideration that they paid to the homeowner for issuing the note and mortgage, without which securitization could not have occurred. Had they been less busy trying to avoid liability for violations of the Truth in Lending Act and other federal and state lending laws, they would’ve maintained the role of creditor and therefore they would have satisfied the factual foundation to allege the existence of a loan. But they didn’t.

From the point of view of legal analysis, the landing statutes never applied because it wasn’t a loan. This was a securitization scheme from start to finish. But it never was a scheme to securitize the debt, note, or mortgage (or payments) of any homeowner. Of all of the different types of securities and contracts that were issued sold and traded, none of them conveyed any interest in the debt, note, mortgage, or payments made by anyone.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

Please Donate to Support Neil Garfield’s Efforts to stop Foreclosure Fraud.

One of the biggest problems is that both homeowners and their attorneys have accepted the labeling promoted by Wall Street. When I first started writing about the scheme in 2006 I raised the alarm that this was nothing like what it seems to be. There were no loans and there were no debts nor any owners of debts. And that is what Wall Street intended.

So there are two labels that must be rejected out of hand at the very beginning. The first is the label of “loan”. The second is the label of “Foreclosure.”

The present situation in Hawaii is mirrored in hundreds of other decisions across the country. The absurdity of some of these decisions is clear to most legal analysts. But the justification for such decisions rests on a dissociative condition: the erroneous belief that lending and securitization intersected. They didn’t. We now have an opportunity to attack the most absurd of the decisions on 2 grounds, to wit: The first is that the decisions are wrong based upon existing judicial doctrine, statutory law, and court precedent. The second is that the decisions are wrong because the justification for bending the law is also wrong.

Join with me as we undertake the effort to alter the trajectory of these decisions which effectively ratify and even Institutionalize illegal and fraudulent behavior

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us.

The elephant in the living room: Is the “free house” a windfall or simply just compensation for being drafted into a concealed securities scheme?

SHOW ME THE LEDGER! NO, NOT THE ONE FROM THE SELF PROCLAIMED SERVICER. SHOW ME THE ONE FROM THE COMPANY CLAIMING THEY PAID VALUE FOR THE DEBT.

I have been beating around the bush too long. In my opinion, rejection of a claim for foreclosure from securitization players is not the equivalent of any windfall for any homeowner. It is merely an acknowledgment of payment for services rendered by the homeowner. The reverse is true: allowing foreclosure to securitization players results in a windfall payment to those players without any corresponding reduction of any “loan” account receivable.

If you send a QWR or DVL out, you are sending it to someone who has no relation to your loan, thus allowing the other players to claim plausible deniability for all the lies you are about to be told. The response is gibberish and in total is the equivalent of “because we said so.”

I might also add that they never assert that the loan account is owned by anyone despite their protestations to the contrary. They often do not identify the originator (like “America’s Whole Lender”) as a legal person or business entity. If it is not a legal person it cannot be a legal person who is the principal in an agency relationship with MERS. People forget that “nominee” means agent.

In lay language, the question is “who do I ask?” What is the name of the company that claims ownership of my underlying obligation resulting from payment of value?
*
My opinion is that they don’t say it because nobody does. And nobody says it because there is no person or business entity that has any confirmable entry on its ledgers showing payment of value in exchange for a conveyance of ownership of the underlying obligation.
****
This is not a technical objection. It is completely and utterly substantive. Without payment for the obligation, nobody can claim a loss. They can’t claim a loss because there is no loss. Without a loss there can be no remedy. 
****
The securitization players offered securities to investors, the proceeds of such sales going to the investment bank who in turn distributed the money to the other players including “borrowers.” Without those securities, there would have been no transaction. But as a result of issuing and selling those securities — and then derivatives of those securities—  the revenue from the sale of securities was in excess of 12  times the amount of the homeowner transaction. {Don’t ask me to justify that — ask ANYONE in the industry if that is not true}
**
Nobody wanted to be a lender who would then be accountable for violations of lending laws.  So they made sure there was no lender. We are all going down the same rabbit hole when we refer to the homeowner transaction as a loan. It was a payment to get the homeowner to execute documents that were labeled as loan documents — a payment that had to be returned, leaving the homeowner with no compensation for his/her role in generating so much revenue.
**
In fact when you factor in payments labeled as “interest” the homeowner receives negative compensation. Viewed from that perspective the homeowner is paying for his own execution.
****

Everyone is shying away from the elephant in the living room. What is so bad about the homeowner getting a “free house” in the context of a larger scheme that produced so much revenue to everyone except the homeowner?

****
If it was a loan, then there would be a lender with a risk of loss and who was accountable for compliance with lending laws — particularly those requiring disclosure of compensation and revenue arising from the execution of the documents.
*
If it was a loan, then there would be a lender who was a stakeholder — i.e., someone who retained risk of loss and intent for the transaction to be performed and successful.
*
Instead, homeowners got no lender and not even a clue as to who they did business with nor the true extent of revenue and profits generated from what was in reality, simply a securities scheme with no substantive characteristics of a loan.
*
Instead, the homeowner was left with a nonlender who had no role in underwriting the viability of the loan contrary to the express requirements of TILA. In fact, and again contrary to the express requirements of TILA, the homeowner was left with nobody who had any stake in the viability or performance of any loan.
*
To add insult to injury, the securitization players had substantial financial incentives to steer borrowers into nonviable loans against which the players bet would fail — this producing even more profits.
**
So tell me again why this is a loan. And tell me why the compensation that the securitization players chose to give to the homeowner should not be retained by the homeowner. And while you are doing that, tell me why the consideration for drafting the homeowner into a concealed securitization scheme should not be expanded.
**
But don’t tell me you can foreclose and evict a homeowner just to get back the only consideration he/she ever received from you. That’s not capitalism. It is a fraud.
PRACTICE HINT: At the very start be confrontative. When opposing counsel says “Your Honor, this is a standard foreclosure,” you should interrupt and object saying that the face of the complaint or notice shows that this is not a standard foreclosure and it may not be a foreclosure at all if they can’t produce a creditor. Drill in the defense narrative wherever you can create the opportunity. 
Remember that you are not just looking for securitization language. You are also looking for securitization players. If the foreclosure is on behalf of Citi, PennyMac or BofA, those are securitization players. Just because they don’t refer to securitization does not mean that they are holding a ledger showing their payment for the debt and maintenance of a current asset account against which they are claiming a loss. If you don’t understand what that means, go talk to a CPA.
*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Document Review for Dummies: Why homeowners and their lawyers get confused by documents proffered by foreclosure mills

It occurs to me that most questions I receive contain either an inquiry about the meaning of documents or statements as if they know the meaning of documents. So here is a short primer on reviewing documents that might help.

WHAT (IF ANYTHING) IS THE TITLE OF THE DOCUMENT?

While this seems to be simply a matter of reading and common sense, there is more to it than that. If I draw a rough picture of a dollar bill and hand it to you, nobody will accept it as payment for anything even if the writing on it says “United States Currency” or “One Dollar.”

The reason for that is simply one short statement: No document is an event. And no label can change that. In the case of my artistic dollar, the event would have been a law that says anyone can draw a dollar bill and that everyone must accept it for all debts, public and private. No such preceding event has ever happened nor is it ever going to happen. People don’t issue currency.  Governments do that.

Labeling it as “one dollar” has no more meaning than angel wings in the snow. But while it is a lot less fun than angel wings, a really good fabricated picture of a dollar is likely to be accepted as if it was a real dollar bill. But passing the fake dollar is an illegal act subject to criminal and civil liability.

APPLICATION: Just because a document bears the label “deed,” “assignment” or “allonge” doesn’t make it so. But most homeowners, lawyers, judges and even regulators fail to recognize this basic common sense precept that has been enshrined in law since the law was first written. This error has even become doctrine, supported by legal presumptions if the face of the document confirms to what would ordinarily expect on the face of such a document.

EXAMPLE: An “assignment” is not an assignment of the mortgage unless (a) the grantor owns it and (b) the assignment also conveys ownership of the underlying debt (or the underlying debt was conveyed in a separate instrument by a grantor who owned the underlying debt). [NOTE: Even then the assignment might not be legally effective such as in the case where someone with toxic waste liability conveys the property to a dummy corporation to avoid being hit with damages, fines and penalties. The grantee must expressly or tacitly accept the assignment.] Ref: Article 9 §203 UCC.

WHY WAS THE DOCUMENT CREATED?

The answer to this question there’s actually another question, to wit: what was the event in real life that the document was intended to memorialize?

This reminds me of what my contract professor in law school pounded into our heads on a daily basis, to wit: The note is not the debt — although it may be evidence of a debt.

The debt exists only in the event of a real-world transaction that is enforceable by law. In the case of loans, that is created upon delivery to the closing table. The debtor is the one who accepted that money with eh understanding he/she had to pay it back and the creditor is the one who gave him/her the money. The debt exists regardless f whether there was my written document. It exists independently of any written document.

If the Payee named on the promissory note is the one who paid money to the debtor/maker), the note is admissible evidence in court to prove the terms of repayment and the existence of the debt. In fact, the law has developed that such a note merges with the debt such that the maker and debtor are the same and the Payee and creditor are the same.

BUT if the Payee named on the promissory note is NOT the one who paid money to the debtor/maker), the note is NOT admissible evidence in court to prove the terms of repayment or the existence of the debt. HOWEVER, under modern law, the execution of the promissory note gives rise to its own independent liability of the maker regardless of whether there was any debtor-creditor relationship between maker and payee. Ref: Article 3 UCC.

Such liability can be enforced over the objection of the maker (that here was no real-world transaction giving rise to the obligation) if the party enforcing the note was a bona fide purchaser for value, acting in good faith and without knowledge of the borrower’s defenses at the time the note was purchased.

APPLICATION: Generally speaking, if there is no real-world event memorialized by the document proffered by a party in litigation, the document is inadmissible as proof of the matter asserted — i.e., that the homeowner owes a debt to the party seeking to enforce it. If there is some real-world event (i.e., the homeowner received the money), then the question becomes whether there existed a legal binding relationship between the Payee on the note and the party who paid the money.

BUT, if the party who paid the money did so with no intent to acquire it or retain ownership of the debt, directly or indirectly, then the payment to the homeowner must be categorized as something other than a loan.

There might still be a liability of the homeowner, but only after the court is able to look at the transaction as a whole, and determine the reason for payment and whether that reason was satisfied by the homeowner’s conduct — which in the case of mortgage loans means the execution of documents that might not have any real value except to start the process of the sale of securities having no relation to the ownership of the debt, note or mortgage.

Such a review would also take into account whether the real terms of the contract were disclosed and whether the homeowner had an opportunity to decline participation or bargain for other terms.

EXAMPLE: As explained above an assignment of mortgage is a legal nullity in all States unless the grantee has also paid value in exchange for a conveyance of ownership of the underlying debt —from someone who owns it. Article 9 §203 UCC, adopted in all 50 states, takes it one step further requiring such purchase before anyone could even e considered as a bona fide claimant to enforce a security instrument (mortgage or deed of trust).

So the question is ALWAYS whether such payment of value for the underlying debt ever occurred as an event in the real world.

BUT, an assignment of mortgage that APPEARS to be facially valid is often taken at face value by the homeowner, the lawyers, the course, and the regulators even though the document is not facially valid. Sometimes this is the result of ignorance or laziness. And that brings us to the next point.

WHO SIGNED THE DOCUMENT? WHERE IS WALDO?

This can be really tricky and unless you are prepared to really look at the signature block like you might look at a painting where various figures and shapes appear, you will probably tacitly admit the entire case against you. You have to look long and hard. Think “Where’s Waldo?”

Take absolutely nothing for granted.

So in court, the correct answer is “I don’t know.” After 10-20 years the homeowner has no idea what he/she signed. He/she doesn’t know if the document presented is real or fabricated. He/she, therefore, doesn’t know if that signature on that document is real or fake. SO why admit it? Tell the truth. You don’t know. Make them prove that the document is authentic, valid, and was properly signed by the homeowner(s) at the time fo the original transaction (note that I don’t call it “loan closing” anymore because I don’t think the transaction is legally or logically a loan).

Next on that assignment of mortgage or beneficial rights under a deed of trust: can you tell me in easy English who signed that document and on whose behalf the document was supposedly executed? On close examination in most cases, you cannot. If that cannot be determined from the face of the document then the document is not facially valid. If the document is not facially valid no legal presumptions can arise about its authenticity or validity.

APPLICATION: In most cases, the validity of an assignment cannot be determined without reference to “parol” (external) evidence. Such instruments are facially invalid unless there is something in the public official record that clears up the mystery. Only official public records carry the legal presumption of authenticity and validity as proof of the matter asserted.

NOTE THAT EVEN DOCUMENTS THAT APPEAR TO PASS THE FACIAL VALIDITY SMELL TEST MIGHT STILL BE EXCLUDED AS PROOF OF THE MATTER ASSERTED IF TIMELY OBJECTION IN PROPER FORM IS RAISED AS TO THE CREDIBILITY OF THE SOURCE: Self-proclaimed servicers are preferred by foreclosure mills as thought hey are third parties with no stake in the outcome of the litigation. Good discovery and motion practice could reveal that the reverse is true — the claimed servicer is really a foreclosure vehicle acting for concealed third parties and who goes out of business if the foreclosures are unsuccessful.

EXAMPLE: “John Smith, Official Document Examiner, SOLVANG SERVICING, LLC, as attorney in fact for CSLOBS, INC., successor to Jasmine Bank, as attorney in fact, for AMERICAN BANK AND TRUST, AS SUCCESSOR FOR MAKE A WISH MUTUAL BANKING, ON BEHALF OF THE REGISTERED HOLDERS OF CSLOBS, INC. PASS-THROUGH CERTIFICATES Series 2006-ZX1.”

There are lots of it assumptions that you could make about such a signature block at the end of the document. None of them would be true. And none of them would make any sense. But it is custom and practice to ignore such signature block as though an authorized signature had occurred on behalf of a grantor who possessed something to grant.

QUESTIONS:

      1. Does John Smith exist? [If you were creating a false document who would want to sign it with their real name?]
      2. Was John Smith an authorized signatory for Solvang?
      3. Was John Smith an employee who knew something about the content of what he was signing or did he just sign it because his job consisted of stamping it writing his signature on thousands of documents per day?
      4. Was John Smith employed by some other company that doesn’t appear on this signature block?
      5. Who owns Solvang? {If the answer is some investment bank then documents executed or created by them suffer from a lack of credibility that could bar their admission into evidence.]
      6. Is the power of attorney attached to the document?
      7. Is there any descriptive language that would enable the reader to ascertain the existence, provisions, and validity of any power of attorney at the time of signing? If not my opinion is that the document is facially invalid. External proof is required to determine whether such power exists and was granted by someone who (a) intended to grant it and (b) had ownership or control over the subject matter (i.e., the mortgage or deed of trust).
      8. Where does Make  A Wish Mutual Bank fit into the chain?
      9. Who is CSLOBS, Inc.?
      10.  Where and what is the registry of holders of certificates? See power of attorney analysis)
      11. Who are the holders of the certificates? [Since they are defined as the parties on whose behalf the document as executed, the absence of an actual name by which they could be identified renders the document facially invalid.]
      12. Are the holders of the certificates the owners of pro-rata shares of debts, notes or mortgages? How do we know that? If not, why are they mentioned?
      13. What exactly passes through where and who is involved in that?
      14. IS THERE A HIDDEN TRUST NAME INVOLVED IN THIS CHAIN? IF SO WHAT I OWNED BY THE TRUSTEE OR THE TRUST? WHO IS THE TRUSTEE? WHAT ARE THE TRUSTEE POWERS? WHO ARE THE BENEFICIARIES? WHO WERE THE TRUSTORS OR SETTLORS?
*
Neil F Garfield, MBA, JD, 73, 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.
NOTE: I HAVE PREPARED A 2 HOUR PRESENTATION ON DOCUMENT ANALYSIS FOR A ZOOM PRESENTATION. I HAVE NOT YET SELECTED A DATE. THE PRICE IS $595 AND INCLUDES A FOLLOW UP ONE HOUR Q&A MEETING ONE WEEK AFTER THE PRESENTATION FOR THOSE WHO PARTICIPATE LIVE. NO DISCOUNTS ARE AVAILABLE. IT WILL PROBABLY BE THE FIRST WEEK OF DECEMBER. IF YOU ARE INTERESTED IN PARTICIPATING PLEASE WRITE TO ME AT NEILFGARFIELD@ICLOUD.COM. CLE ACCREDITATION FOR LAWYERS IS EXPECTED. 
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

 

 

 

Here we go — the next tidal wave of foreclosures is upon us. When the moratoriums are over prepare for shock and awe (again)

see https://www.abcactionnews.com/news/local-news/i-team-investigates/floridas-foreclosure-rate-second-highest-in-the-u-s-filings-increase-as-courts-open

The Wall Street playbook calls for an insidious process of creeping up on you. Within days, in some cases, weeks in other cases and certainly within months, people are going to wake up to the fact that they are already in the middle of a foreclosure proceeding. And the new wave will be just as destructive as in 2008.

Contrary to the party line that has been successfully advanced by Wall Street banks, foreclosure proceedings are NOT the result of non-payment. They are the result of greed.

For non-payment to be a reason to seek redress in court, the claimant must be entitled to receive payment from the person they are suing, and they must be “injured” (financially) by the homeowner’s failure to pay. In al most all foreclosures, contrary to popular belief, these elements are completely absent and no, there isn’t anyone behind  some fictional curtain who is getting the money to satisfy and unpaid debt.

And yet here is what is about to happen:

  • 96% of all homeowners who are served with foreclosure notices will walk away from the biggest investment of their lives and losing a huge asset
  • 2% will attempt to litigate “on the cheap” looking or delay, modification or something other than simply winning against a law firm falsely representing it has a client who is proper claimant and falsely implying that if the foreclosure is successful the money will go to someone who needs it instead of just wanting it.
  • 2% will litigate in earnest and 65% of them will win their cases because there is no legitimate claimant or claim.
  • The courts will largely remain ignorant about the true nature of securitization — specifically that not a single residential loan has ever been securitized.
    • Building on that ignorance, the courts will erroneously accept direct or implied assertions of authority to administer, collect or enforce obligations by law firms who also lack any authority to collect or enforce.
    • Many lawyers will make the same mistake, believing that the self proclaimed “servicer” has been granted any right by any party who paid value for the underlying obligation in exchange for receiving a formal conveyance fo ownership of the debt, note or mortgage.
    • Discovery demands, even if properly framed and timed, will largely be ignored by everyone because of lawyers and pro se litigants’ lack fo understanding of motion practice.
  • The CFPB, FTC, SEC and IRS will continue to cover up the largest and most blatant fraud in human history — the creation of the illusion of a loan without any lender and without any loan account on the ledger of any company reflecting payment for the debt, note or mortgage.
  • Once again, wealth will be sucked out of the US economy when it is needed most in the hands of consumers who are the ONLY demographic capable of reviving and stabilizing a consumer-driven economy.

Moral of the story: It’s not capitalism if you are stealing something for the sake of grabbing money. That is and always has been grant theft.

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Maine Decision Presents New Challenges for Hearsay objections on Fabricated Records

see Bank of N.Y. Mellon v. Shone, 2020 Me. 122 (Me. 2020)

the record keeping shortcomings of some members of a particular business sector should not drive our interpretation of a rule of evidence that applies to the records of all businesses and, more broadly, as Rule 803(6)(B) indicates, to the records of any “organization, occupation, or calling.” If the records kept by mortgage lenders or loan servicers in particular are categorically unreliable, more stringent proof requirements might be appropriate. [e.s.] But there is no good reason to require in every case testimony based on personal knowledge of the practices of the business that created a record when the business that received the record can meet the integration, verification, and reliance criteria of the integrated records approach.

Bank of N.Y. Mellon v. Shone, 2020 Me. 122, 17-18 (Me. 2020)

So the bottom line is that in the musical chairs game currently labeled as “servicing” it is common to have a company claim to be the servicer for an unidentified or unconfirmed creditor. That company in turn sends a witness to court who knows absolutely nothing about the case. But the witness is trained to say that the payment history report  tendered to the court as evidence constitute normal business records that have a presumption of credibility. Note that it is never said, asserted, alleged or sworn that the subject records establish the debt as an asset on the books of any creditor who paid value for the underlying obligation (see Article 9 §203 UCC).

This decision from Maine says that the records MIGT be admissible even if they include “integration” of data from a previous source. And foreclosure mill lawyers are going to be quick to point to this decision and to use it to steamroll over some hapless homeowner to get a foreclosure sale for profit instead of restitution for an unpaid debt that was liquidated contemporaneously with origination of the transaction.

But the court took special pains to point out that they suspected that some players were not as credible as others. The court pointed out specifically that so-called lenders and servicers might have record keeping shortcomings.  Indeed they do since they don’t actually create, maintain or report on data or transactions and instead merely maintain call centers at which people are hired to access screens that are managed by third party vendors working for the investment banks.

So this is the same as any other document that might make it into evidence. It is cloaked with a presumption but you can rebut that presumption by asking pointed questions and taking the deposition of witnesses who are said to have knowledge about transactions that nobody in their company actually handled or participated. You can do this administratively through a QWR or DVL or you could do it in discovery which is more easily enforceable. But answers to QWR and DVL often conflict with prior correspondence and notices, which is helpful.

REMEMBER THIS: THE BOARDING PROCESS DOES NOT GENERALLY EXIST. THE ASSERTION OF A BOARDING PROCESS IS MEANT TO INVOKE THE INTEGRATED RECORD-KEEPING EXCEPTION TO THE HEARSAY RULE. IN OTHER WORDS WHILE THEY COULD NEVER HAVE SUCCEEDED IN GETTING THE ORIGINAL RECORDS INTO EVIDENCE BECAUSE OF LACK OF COMPETENCE AND LACK OF FOUNDATION THEY CAN NOW OFFER INTO EVIDENCE THE RECORDS OF A NEW “SERVICER” WHO TESTIFIES THROUGH AN IGNORANT WITNESS THAT THE RECORDS WERE INTEGRATED FROM A PREVIOUS SOURCE, INSPECTED AND VERIFIED, AS WELL AS RELIED UPON BY THE CURRENT COMPANY IN ITS BUSINESS OPERATIONS. 

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

The Key to Winning is Aggressive Discovery and Compliance with Court Orders

I have just received a slew of inquiries about what to do when the  foreclosure mill files evasive responses and objections. Here is the answer. Discovery consists of the following steps toward victory:
  1. Framing your answer, affirmative defenses and/or allegations such that you are challenging the status and ownership of the underlying debt.
  2. Draft your discovery demands such that they all relate to status and ownership of the debt and the right to represent the designated Claimant or Plaintiff.
  3. File a motion to compel answers after you receive evasive answers and nonsensical objections. Get a hearing. Appear at the hearing with a good argument as to why your discovery will lead to the discovery of admissible evidence that is relevant to the case at bar. Get an order compelling discovery response.
  4. File motion for sanctions after you again receive evasive answers and nonsensical objections. Get a hearing. Appear at the hearing with a good argument as to why your discovery demands are necessary for your defense and will lead to the discovery of admissible evidence that is relevant to the case at bar. Get an order on sanctions in which the court will probably give them one more chance to comply with the rules.
  5. File renewed motion for sanctions after you again receive evasive answers and nonsensical objections. Get a hearing. Appear at the hearing with a good argument as to why the opposition should be found in contempt of court order, in contempt of court procedural rules, and ask for striking their pleadings as long as they are unwilling to provide answers and documents that show proof they paid value for the underlying obligation. Get an order on sanctions in which the court will probably give them one more chance to comply with the rules.
  6. File a motion in limine. Ask the court to limit evidence on the existence and ownership and status of the debt. Get a hearing. Appear at the hearing with a good argument.
Your pleadings should include something like the following:
Opposing counsel has filed a common place boilerplate response to simple requests whose purpose is to reveal the status and ownership of the subject obligation, which is the central or sole issue in the case at bar. Opposing counsel seems to want the court to get distracted into other areas of inquiry or law. The plain truth of the case at bar is that if the designated plaintiff owns the debt and the defendant has failed to pay that debt, then a declaration of default is proper and foreclosure proceedings are appropriate.
*
But the reverse is also true. If opposing counsel cannot confirm ownership of the debt despite lawful discovery propounded in accordance with the rules of court, then there is no case at all. In such event, Defendant is entitled to the finding that any presumption of ownership of the debt has been rebutted and an inference that no such ownership exists. Opposing counsel could come back and produce evidence that his “client” paid for the debt — but only after complying with the rules of discovery. Otherwise a motion in limine would bar any such evidence at trial, thus ending the case.
*

The objections are based upon the disingenuous assertion that the requests are not related to the issues of the case. To be clear, as stated in Defendant’s Answer and Affirmative defenses, the issues raised by Plaintiff and defendant are the same — the status and ownership of the debt that the Opposing counsel seeks to enforce. Either the debt exists and is owned by the designated Plaintiff who is represented by opposing counsel or it does not exist or it is not owned by the designated Plaintiff.

*
If opposing counsel maintains an attorney client relationship with an existing legal entity that claims it owns the underlying debt and has been injured by “nonpayment” then counsel has every right to plead, object and otherwise represent the claimant in court.
*
But if opposing counsel maintains no attorney client relationship with any name included in the designation of Plaintiff, then they have no right to claim any right to represent or pursue any claim on behalf of a third party who is not present in the case.
*
So questions about the true nature of the relationship between opposing counsel and the designated Plaintiff are highly relevant and any objection thereto is dilatory and a complete waste of the time of the court and Defendant’s counsel. Since opposing counsel has also made a demand for recovery of attorney fees and costs, Defendant  is obviously entitled to know the nature and terms of the contract for legal services — and the parties thereto.
*
Further, if the designated Plaintiff — or some name contained within the label of the designated Plaintiff — has not paid value for the underlying obligation, then the action fails for lack of compliance with Florida statutes adopting in whole and verbatim Article 9 §203 of the Uniform Commercial Code which states unequivocally that as a condition precedent to enforcement of a security instrument, the claimant must have paid value for the underlying obligation. If the designated Plaintiff has not paid value, then the action must be dismissed for failure of condition precedent.
*
Further, failure to have made such payment eliminates the implied (but unstated) assertion of harm since no harm could come to anyone who did not own the debt. This eliminates the foundation for jurisdiction over both subject matter (the claim for unpaid debt) and personal jurisdiction over the designated Plaintiff who has no claim as well as the Defendant who is under no duty to defend a baseless claim.
*
For The sake of justice, finality and judicial economy, such boilerplate objections should be rejected both to stop opposing counsel in this case and so serve as a deterrent in the many foreclosure cases that will soon clog the court system again.
*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Trusts, Trustors, Settlors and Fake REMIC Trusts

All trusts that are legally recognized as such have the following basic components: the trustor/settlor who (a) executes a written trust agreement and (b) conveys property into the name of the named trustee to hold and manage the conveyed asset(s) for the benefit of named beneficiaries. So the three basic components are (1) property (the res), (2) a trustor/settlor, and (3) beneficiaries. Pooling and servicing agreements when read closely reveal in all cases that they are missing all three components.

*

Trustees only exist in relation to a defined trust. A trust may technically exist if it is written down on paper. But it has no legal existence in court unless there is (a) something in it and (b) that something is relevant to the dispute being litigated in court. If it has no legal existence in court then the presumed powers of the trustee are irrelevant. The trustee’s power over claims or property are only as great as what is legally existing within the trust. That means that someone who owned an asset transferred it to the name of the trustee to hold in trust for the benefit of specific beneficiaries. In no case that I ever examined did such a transaction ever take place in connection with REMIC trusts or residential loans.

*
Several legal malpractice suits have been based upon the failure of the lawyer to advise his/her client that the trust that has been drafted and executed is still completely worthless if the trustor does not transfer assets into the trust. The beneficiaries find out the hard way that the trust may have indicated an intent to distribute certain assets to them, but if there is nothing owned by the trust, they get nothing. It’s like forming a corporation in whose name no business is ever done. It doesn’t matter that the intent of the founder of the corporation meant to conduct business in the name of the trust.
*
The corporation, like a trust, is a legal fiction equivalent (see Citizens United) to a legal person. That legal person cannot legally operate or own a car, directly or indirectly even through employment of a human, unless it legally buys the car and registers and insures it in accordance with state law. If the car gets into an accident then the person driving it is the one who will get sued because unless you can show that the person driving it was doing so at the behest of the corporation that did not own it, the corporation did nothing at all.
*
Going back to the original question, the REMIC Trust exists on paper and is either regarded as inchoate (sleeping) or nonexistent, depending upon state law. Being named as trustee of such a trust conveys no power over anything except for what has been conveyed by a trustor/settlor to the trustee for the express purpose of holding and managing the asset for the benefit of named beneficiaries. While there are several references to things that might happen in the future, no such conveyance is ever recited as an accomplished fact.
*
It therefore follows by simple logic that if a servicer is claiming the right to administer, collect or enforce a debt, it must be doing so on behalf of a legal person who is entitled to such administration, collection and enforcement. If the company claiming the label of “servicer” is claiming it is empowered by the trustee of a REMIC trust, then that trustee must have power over the asset (i.e., debt, note or mortgage or DOT). If a Bank party is claiming to be a trustee over the asset, then the asset must have been bought, conveyed, sold to the t trustee to hold and manage in trust for the benefit of beneficiaries. Conveyance of an interest in a mortgage or other encumbrance requires that the grantor legally own it and that the party receiving it pay value for it.
*
I have read the actual trust agreements that exist far from prying eyes of foreclosure defense lawyers. They specifically acknowledge that the trustee is getting, in name only, a conveyance that is (a) worthless since it does not include conveyance of the underlying obligation and (b) to hold for the sole benefit and subject to the direction of the investment bank that originated the securitization scheme. The investors who buy certificates are unsecured creditors, not beneficiaries.  I remind the reader that no such securitization scheme ever securitized the debt, note or mortgage of any residential homeowner.
*

BOTTOM LINE: ASK FOR THE ACTUAL TRUST AGREEMENT — AND DON’T ACCEPT THE ARGUMENT THAT IT IS THE PSA.

*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

What to do if the foreclosure mill refuses to give you an answer about ownership of the “loan”

Summer Chic write me an interesting email and I wrote back. She poses a question that summarizes the entire situation:
She wrote:

Example: PennyMac claimed that they PURCHASED my loan on May 2, 2019  from someone whom they cannot identify. The financial statements from a non-identified company show that somebody “established a NEW loan” on May 9, 2019. Not a single word about the sale

Here is what I wrote back:
*
As unusual PennyMac (or Ocwen or whoever) claims that it purchased a specific loan (usually in bulk). So we all know that a claim is good for pleading but litigation is not about “because I said so.” It’s about proof as admitted by the judge.
*
In this case the discovery question is simple: who is the party from whom you acquired ownership of the subject loan in exchange for payment of value? They can’t answer that because no such person or entity exists. When you say “they cannot identify” does that mean you have submitted formal court discovery to them and they failed or refused to answer?
*
If you mean that you have asked by phone or standard letter and they couldn’t or wouldn’t say who they paid, that fact — the non answer — will have very little legal probity in the case.
*
If you mean that you asked in a Qualified Written Request or Debt Validation Letter, then you have invoked administrative process. Failure to answer that question is a failure to establish the single most important question of the case — is the claimant the owner of the underlying obligation (because it paid real value in exchange for a conveyance of ownership of the subject debt, note or mortgage (DOT)? That is, after all their claim if they are claiming ownership or claiming purchase.
*
If the named claimant is the owner of the underlying debt then the claimant is the owner of the loan account and can claim a financial loss resulting from nonpayment by the homeowner. Since they have suffered financial damage they are entitled to redress through the courts and that includes judgment on the debt, judgment on the note and judgment on the mortgage (or all three).
*
If the named claimant is NOT the owner of the underlying debt then the claimant is NOT the owner of the loan account and cannot claim a financial loss resulting from nonpayment by the homeowner. Since they have not suffered financial damage they are not entitled to redress through the courts and they have no right in law or equity to a judgment on the debt, judgment on the note and judgment on the mortgage (or all three).
*
So if administrative process in invoked and they refuse to answer (always the case) then you file complaints with the CFPB and state AG that says, in summary, I am being coerced into a relationship with PennyMac despite the fact that they will not reveal any transaction in which it acquired ownership of my obligation. PennyMac is neither my original lender or table lender nor a successor to anyone who was the original lender or table lender. Its response is required under applicable law. They won’t answer or they are admitting informally that they are unable to identify the transaction except by date but without any information about the “seller” whom they say they cannot identify.
*
Lying to AG and CFPB carries some fairly hefty penalties so the banks try to steer clear of flat out lying to those law enforcement agencies. So you usually will find inconsistencies between their answer to the CFPB complaint and what they have previously sent you. You can use those effectively in court as admissions against interest. There will always be inconsistencies because none of what they are saying is or ever was true. But it isn’t up to the judge to dig. It is up to you as litigant to put these inconsistencies squarely in the face of the judge and be able explain in clear persuasive language why this is important.
*
If you mean that you asked in formal court discovery, that is an entirely different story. That fact that you asked is relevant. The fact that they didn’t or couldn’t answer is relevant.  And the fact that they failed or refused to answer even after the court entered an order compelling the answer is relevant because you file a motion for sanctions asking for monetary penalties and striking their pleadings.
*
Then after they still don’t produce the answer you are in the very strong position of filing a motion in limine — unless the court has already entered an order striking the pleadings of the claimant.
*
You cannot pursue a claim if you are unwilling to say how you got hurt. If you are claiming loss from nonpayment you must show entitlement to payment. Otherwise nonpayment is irrelevant. A quick summary of the law is that if the inferences and presumptions arising from allegations of the complaint or exhibits are properly challenged, the homeowner is entitled to rebut those inferences and presumptions.
*
But the rebuttal does NOT consist of proving that the claimant does not own the debt, note and mortgage. The rebuttal arises when court rules prevent the claimant from introducing any evidence at trial that they own the debt, note or mortgage. So even if they did own it, and even if you did owe the money, they would still lose because they had not obeyed court rules.
*
The fact that a “new loan” seems to have appeared is not dispositive. If there really was change of ownership it is perfectly acceptable for the new owner to change the labels. But more importantly it might be a clue. The new labels might be an indication that the loan data has been included in multiple “portfolios.” Although none of the portfolios consist of anything more than data about the loans instead of ownership of the loans, they all represent different securitization schemes. By challenging the current portfolio and demanding answers to questions about transfers of the loan you can uncover the fact that more than one “implied trust” is being named by underwriters and foreclosure mills as the successor lender.
*
Just remember the paperwork introduced as exhibits to the foreclosure complaint or discovery or at trial in most cases is NOT facially valid because it requires the reader to pursue information that is not in the public record. A big error is NOT challenging the facial validity of a document. Failure to do that either waives many of your defenses or makes it a more difficult uphill climb.
*
Neil F Garfield, MBA, JD, 73, 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

Foreclosures in Securitization World: deny everything they have to say and then pursue discovery — but in discovery you focus on the issues that are central to every foreclosure — status and ownership of the debt. 

The danger is in the labels.

I have some devoted followers and readers who have been great contributors — doing research on the real action and dynamics between the homeowner on the one hand and all the intermediaries and people of interest on the other hand. One of the things recently raised was the discovery of who is listed as having paid tax or insurance or other expenses. The danger is in the labels.

The simple basic truth is that the banks are using a shell game that is based entirely on the false use of labels. So when we see something in writing we tend to assume it is probably true. Without that the entire securitizations scheme would have fallen apart before it began.

If you write a check to me for plumbing repairs, that label on the check “Plumbing repairs” does not mean in actuality that you expect me to do plumbing work nor that I will deliver such work. After all I’m a lawyer, not plumber. But if we both agreed to have the check made out in that manner it would be because we were concealing the true nature of the transaction. That still doesn’t mean that any plumbing work is ever getting done.

And, believe it or not, that is not illegal. In fact, just writing the check with that label on it raises an inference or legal presumption that this was payment for plumbing work. So when you walk into court the judge is already assuming that this is a dispute over plumbing work when in fact the agreement between us was for legal work. If some third party comes into the picture and either sues or defends a claim from either of us, they must respectfully challenge the label — “plumbing repairs” even though we all know that no plumbing work was done or intended.

You need to understand that there is a difference between the label on an account and ownership of it. And there is even a difference between ownership and the authority to make deposits and withdrawals.

*

It is entirely possible to direct payments to “Ocwen” for example. The payments are forwarded to an intermediary who in turn forwards the payment (if electronic) or forwards the check to the Black Knight/CoreLogic system we have been talking about. With Check 21 and other practices this is all done in seconds.
*

So your check to Ocwen gets deposited into an account labelled “ocwen” which is owned by Black Knight who has a contract with the investment bank in which it gives the investment bank or its agent full authority to make deposits and withdraw money.

*
Once again the misdirection comes from knee jerk reaction to seeing a label. We are culturally conditioned to assume the label means something when it doesn’t. In the above example, if the transaction was real, the check would be made out and deposited into the account of Morgan Securities, for example. The homeowner/”borrower” of course has no clue about any of this and simply assumes he is paying his mortgage payment on an existing loan account owned by some “investor”. All of that could alternatively be labeled as “Plumbing Repairs.”
*
But Morgan doesn’t want to receive the money directly because there is no business or legal reason it should be received by Morgan. Morgan holds no receivable from the homeowner/”borrower.” It is simply not entitled to receive that money even though it is happening every hour.
*
All such payments are pure revenue that is untaxed because for tax purposes it is labelled as either return of loan or return of capital or it is labeled as off balance sheet and doesn’t show up at all. The real money transfers are recorded in a jurisdiction that asserts taxing authority and then waives all tax. Bermuda was popular when I last looked at this.
*
For foreclosure defense you don’t need to prove any of that. You just need to know and believe it. Because then you can ask questions in discovery that you know they can never answer without admitting to tax fraud, theft, and other crimes.
*
It is their LACK of answers that is the useful tool in this litigation and the law is very clear — if you persist in demanding discovery, motions to compel, motions for sanctions and motions and in limine you will most likely win the case hands down without any right of the foreclosure mill to refile.
*
The banks want you to focus on how wrong the banks were in their behavior so you will make allegations that you will never be able to prove. The real defense is like Karate Kid (“no be there”). Just deny everything they have to say and then pursue discovery — but in discovery you focus on the issues that are central to every foreclosure — status and ownership of the debt.
*
Neil F Garfield, MBA, JD, 73, is a Florida licensed trial 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

More Details on VendorScape, CoreLogic and Black Knight

Hat tip to “Summer chione”

So it is apparent that the banks are responding to discoveries about how orders are transmitted to lawyers, “servicers”, realtors etc.. While it is all the same playbook, they merely change the name of the characters. So internally the name VendorScape might still be used but externally, to the public, they are showing different names and even showing multiple names for the same “service”.

But is always the same, to wit: a central repository of data that has been robotically entered to support misrepresentations of investment banks that massage the data, control the reports, and initiate administration, collection and enforcement under the letterhead of “subservicers” who have almost nothing to do and are merely being kept alive to throw under the bus when this scheme explodes.

For those familiar with the game of Chess, think of the following entities as all being pawns whose existence is to provide a barrier to the encroachment of government or borrowers in litigation — and who can and will be sacrificed when the game explodes.

  1. Foreclosure law firms (“mills”)
  2. “Servicers”
  3. Trustee of REMIC Trust
  4. Trustee on Deed of trust
  5. MERS
  6. Companies that provide “default services”
  7. Realtors
  8. Property  Managers
  9. REMIC  trusts: remember that back in early 2000’s, the same trusts that are being named as claimants today were denied as having any existence or relevance. It was only after failure of naming a servicer or MERS that they fell back on naming the non functional trustee of a nonexistent trust as the claimant.
  10. Every other company that is visible to the investors and homeowners.

And keep in mind that the claims of a “boarding Process” or detailed audit of accounts when the name of one subservicer is changed to something else are totally and completely bogus. There is no transfer much less boarding of accounts. the fabricated accounts are always maintained at the central repository.

The argument over “business records” is sleight of hand distraction. There are no business records. Go do your research. You will see that nothing the banks are producing are qualified business records, muchless exceptions to the hearsay rule. 

It is or at least was universal custom and practice that before accepting  an engagement, lawyers, servicers and realtors needed to have an agreement in writing with their employer. In the wholly unique area of foreclosures, sales, REO and remittances this practice has been turned on its head.

As I have repeatedly said on these pages, lawyers in a foreclosure mill have no idea who hired them. They don’t know the identity of their client. They will and do say that their client is some “subservicer” (e.g. Ocwen), they file lawsuits and documents proclaiming their representation of some bank (e.g. Deutsche) with whom they have (a) no contact and (b) no retainer Agreement.

This is because all that Deutsche agreed to was the use of its name to give the foreclosure an institutional flavor. It is labelled as a trustee but it possesses zero powers of any party that could be legally described as a trustee. It has no fiduciary duty to any beneficiaries nor any right to even inquire about the business affairs of the trust — which we know now (with certainty) do not even exist.

So there is no reason for the foreclosure mill to have an agreement with Deutsche because (a) Deutsche has not agreed to be a real party in interest and (b) Deutsche has no ownership, right, title or interest in any loan — either on tis own behalf or as representative of either a nonexistent or inchoate (sleeping) trust with no assets or business or the owners of non certificated certificates (i.e., digital only). Indeed the relationship between Deutsche and the holders of certificates is that of creditor (the investors) and debtor (Deutsche acting as the business name only of an investment bank who issued the certificates).

So the lawyers in the foreclosure mill are misrepresenting its authority to represent. In fact it has no authority to represent the “trustee” bank.

So the banks have come up with a circular argument that is still erroneously used and believed in court: that because the subservicer (e.g. Ocwen) is the nominal client — albeit without any contact prior to the electronic instructions received by the foreclosure mill — and because the subservicer claims to be acting for either the trustee, teht rust or the holders of certificates, that eh lawyers can claim to be representing the bank, as trustee. In a word, that is not true.

So the foreclosure mill is falsely claiming that its client is the named “trustee” who has no power for a “trust” which has no assets or business on behalf of certificate holders who own no right, title or interest to any payments, debt, note or mortgage executed by any “borrower.”

Instructions from a third party with no right, title or interest that the lawyer should claim  representation rights for yet another party who has no knowledge, right, title or interest is a legal nullity. That means that, in the legal world, (like transfer of mortgage  rights without transfer for the underlying debt), there is nothing that any court is legally able to recognize and any attempt to do so would be ultra vires once the facts are known to the court.

The trick is to present it to the court in such a manner that it is unavoidable. And the best way to do that is through aggressive discovery strategies. the second best way is through the use of well planned timely objections at trial.

All of this is done, contrary to law and prior custom and practice to cover up the fact that all such foreclosures are for profit ventures.

That is, the goal is not paydown of any loan account, because no such account exists on the books of any creditor.

And that is hiding the fact that the origination or acquisition of the loan was completed with zero intent for anyone to become a lender or creditor and therefore subject to rules, regulations and laws governing lending and servicing practices.

They didn’t need to be a lender or creditor because they were being paid in full from the sales of securities and thus writing off the homeowner transaction. Bottom Line: There was no lending intent by the originator or acquirer of the loan. When the cycle was complete, the investment bank owned nothing but still controlled everything.

And the way they controlled everything was by hiring intermediaries who would have plausible deniability because they were using images and records that were automatically generated and produced based upon algorithms written by human hands — programs designed to facilitate foreclosure rather than report the truth.

So let’s be clear. Here is the process. The lawyer, realtor or subservicer knows nothing about the loan until it is time to foreclose. All activity that is conducted under its name is initiated by CoreLogic using the VendorScape system.

So when a lawyer, for example, comes to work, he sits down in front of a computer and gets a message that he doesn’t know came from CoreLogic under the direction of Black KNight who is acting under the strict control of the investment banks. There are no paper documents. The message on the screen says initiate foreclosure work on John Jones in the name of Deutsche Bank as trustee for the CWABS Trust 2006-1 on behalf of the certificateholders of CWABS Trust 2006-1 series pass through certificates.

Contrary to the rules of law and ethical and disciplinary rules governing lawyers, the lawyer does no due diligence to discover the nature his agreement with the naemd claimant, no research on whether the claim is valid, and requires no confirmation ledgers showing establishment of ownership of the debt and financial loss arising from cessation of payments. He/she sends notice of delinquency, notice of default and initiates foreclosure without ever seeing or even hearing about a retainer agreement with Deutsche whom he supposedly represents.

He/she has no knowledge regarding the status or ownership of the loan account. ZERO. By not knowing he/she avoids liability for lying to the court. And not knowing also provides at least a weak foundation for invoking litigation privilege for false representations in court, behind which the investment banks, Black Knight, CoreLogic et al hide. The same plausible deniability doctrine is relied upon by CoreLogic and Black Knight. They will all say that they thought the loan account was real.

But they all knew that if the loan accounts were real, the notes would not have been destroyed, the control over the loan accounts would have stayed close to the investment banks and compliance with lending and servicing laws would have been much tighter — starting with disclosure to investors that their money was being used to justify a nonexistent trading profit for the investment bank, and disclosure to homeowners that they were signing on for an inflated appraisal, immediate loss of equity, and likely foreclosure because after the origination, the only real money to be made off the loan was through foreclosure.

And both investors and borrowers were prevented, through the artful practice of deceit and concealment, from bargaining for appropriate incentives and compensation for assuming gargantuan risks they know nothing about.

This is like cancer and it is continuing. Nobody would suggest that we keep selling crops that were infected with ebola or which contained some tar substance that reliably and consistently produced cancer. The argument that a company or industry might collapse would not fly because in the end we value human life more than allowing companies to profit off of death and destruction. And the argument that allowing the judicial creation of virtual creditors who can enforce non existent debt accounts is going to save the financial system is just as pernicious — and erroneous.

Wall Street banks are merely protecting their profits. Don’t blame them for doing that. It is up to government and the public to stop it and arrive at something other than the false binary choice of either forcing people out of their homes or allowing a “windfall” to homeowners against the interest of all other honest people who make their mortgage payments. The real solution lies in reformation by judicial doctrine or through new legislation — but until that is completed, there should be no foreclosures allowed. Until it is determined how much concealed risk was piled on investors and borrowers, they should not be stuck with contracts or agreements that sealed their doom through concealment of material facts.

*
Neil F Garfield, MBA, JD, 73, is a Florida licensed trial 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. Inthe meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.

You might not know VendorScape but it sure knows you

In a somewhat startling admission by CoreLogic, we now have an admission of many facts that might not have otherwise surfaced but for intensive and aggressive, persistent Discovery. I am not publishing the entire letter from them for privacy reasons. But it is worth mentioning that the letter was sent, after careful legal analysis, as a response to a complaint to the Federal Consumer Financial Protection Board — organized by Elizabeth Warren under the Obama administration. The response was (a) mandatory and (b) subject to charges of lying to a Federal agency.

The problem faced by CoreLogic was that on the one hand it IS and was the central repository of all data and electronic records for most residential loans in the United States. The main IT platform running several systems is called VendorScape which is owned, maintained and operated by CoreLogic pursuant to instructions from Black Knight (and perhaps others) who are serving the interests of investment banks who have no legally recognized interest in any of the alleged “loan accounts”.

But they don’t want the government or the public to know any of that because they are designating nominees to serve or pose as “servicers” who can be thrown under the bus at any that that foul play is actually addressed instead of settled (see 50 state settlement).

So here is what they said

Interesting.

image.png
And here is how it breaks down (legal analysis):
  1. VendorScape exists although they deny it is currently accessed through CoreLogic
  2. VendorScape is an “electronic case management system.” Taken in context with customs and practices in the industry in addition to simple logic, it is THE case management system and it is electronic which means that anyone with login credentials can get into it.
  3. VendorScape output consists of the following:
    1. centralized electronic workplace
    2. storage of “documents” — i.e., images not the original documents because they are not a records custodian for anyone. As the centralized place for “storage” it is VendorScape that is the source server from which all records are produced in printed reports that are merely generated from what is in VendorScape regardless of who added or deleted or changed anything.
    3. initiate workflows “defined by our clients”. This is odd wording.
      1. They appear to be saying that clients access the system and are simply using it as an IT platform to conduct business of the client.
      2. But VendorScape initiates workflows, which means that they have admitted that whoever is actually running VendorScape is making the decisions on when and how to initiate any action.
      3. Since the entire purpose of this system is preparation for foreclosure, the only logical conclusion is that it is a system to initiate foreclosures, notices of default, notice of delinquency etc. based upon human decision-making or automated decision making initiated by humans that control VendorScape.
      4. They will of course say otherwise and that seems to be what they are trying to say — that the client determines the definitions and circumstances of workflows.
      5. But dig a little deeper and you will find that the “client” has no right to make such decisions and that the decision is labelled as the decision of a client (e.g. Ocwen) by permission from Ocwen, who is not actually allowed to make such decisions and does not make such decisions. 
      6. So the reference to the  Client making such decisions is circular allowing anyone to say that it was CoreLogic or  VendorScape who made the decision (thus avoiding liability for Ocwen et al) OR to say that it was Ocwen, as they do in this letter.
  4. They admit that CoreLogic is the party who owns and maintains the storage and functions of the VendorScape system while at the same time implying that they have no connection with VendorScape.
  5. They assert that the data is owned by the clients. This is a common trick.
    1. The data is not owned by the clients because it doesn’t consist of any entries or proprietary information placed in the system by the client.
    2. The information or data is placed there mostly through automated systems controlled by Black Knight but operated by CoreLogic.
    3. Nominal “Servicers” (Ocwen e.g.), who are the “clients” actually have no way of knowing anything about a homeowner account until after it is placed in the system by third parties.
    4. This is why servicer records should not be admitted into evidence as exceptions (business records) to the hearsay rule.
    5. The deadly mistake by many lawyers in court is the failure to timely object to lack of foundation, best evidence and hearsay.
      1. A timely objection is one that is raised at the same time the admission of evidence is being considered by the court.
      2. Waiting until the end of questioning is spitting in the wind. It is already in evidence by that point.
      3. And the second mistake is that after the objection is sustained, the failure to move the court to strike the offending testimony and exhibits. That failure is equivalent to a waiver of the objection, thus leaving the offending testimony or exhibits in evidence.
*
Neil F Garfield, MBA, JD, 73, is a Florida licensed trial 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.
*

FREE REVIEW: Don’t wait, Act NOW!

CLICK HERE FOR REGISTRATION FORM. It is free, with no obligation and we keep all information private. The information you provide is not used for any purpose except for providing services you order or request from us. In the meanwhile you can order any of the following:
*
CLICK HERE ORDER ADMINISTRATIVE STRATEGY, ANALYSIS AND NARRATIVE. This could be all you need to preserve your objections and defenses to administration, collection or enforcement of your obligation.Suggestions for discovery demands are included.
*
CLICK HERE TO ORDER TERA – not necessary if you order PDR PREMIUM.
*
CLICK HERE TO ORDER CONSULT (not necessary if you order PDR)
*
*
CLICK HERE TO ORDER PRELIMINARY DOCUMENT REVIEW (PDR) (PDR PLUS or BASIC includes 30 minute recorded CONSULT)
*
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.
  • 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.
*
Please visit www.lendinglies.com for more information.
%d bloggers like this: