From usedkarguy
To: M. Soliman,
I wrote to Neils’ blog over 10 months ago stating the exact facts that you are promulgating here in this recent post. I have been in litigation for over a year now and have been removed to US Dist. Court recently, at the behest of Deutsche Bank. They have brought in a securities attorney from the Bay Area to fight me on the discovery of such documentation as: FR 2046 balance sheets, Statement 95, 133, 140 FASB statements, 424 B-5 prospectus., etc… They claim that I have no statutory right to see any of these “work product” doc’s. Thus far, the judges have not been able to determine the necessity or veracity of my demands for discovery of these doc’s, however, I am now in US Dist. in Northern Calif., Eastern Dist. and have just defeated a MTD 12(b)(6).
I think that the new judge actually wants to see this info because we illustrated a time line of underlying securitization mandates and we have the mortgage loan trust package in it’s entirety, i.e.; trust indenture, master sales and servicing agreements, asset trust account, master pay accounts, sub-trust accounts, loan loss insurance providers, credit default swap providers, Note insurer, etc. The thing we found very interesting is the fact that the Indenture Trustee (Deutsche), the Swap provider and the Note insurer (AMBAC) are listed in the trust indenture as “Beneficiaries” with priority over the investors and are first in line for payment from the sub-trust accounts, as well as the master pay account.
This is absolute evidence of the scheme. Moreover, the spill of money that came pouring into these accounts never went to the general master pay account, rather, directly to the sub-trust accounts, which we believe are located in the Caymen Islands.
The usual suspects are the recipients of this windfall. These are obvious defaults pursuant to the original Deed language wherein the flow of allocable payments are defined as to the priority of payment to the “obligation”, yet, the pillagers are directing these payments to other accounts which benefit themselves rather than being responsive to the mandates of the trust.
Jim
Filed under: bubble, CDO, CORRUPTION, evidence, expert witness, Fannie MAe, foreclosure, foreclosure mill, GTC | Honor, HERS, investment banking, Investor, MODIFICATION, Mortgage, Servicer | Tagged: accounting, Caymen Islands, DEUTSCHE BANK, general master pay account, HERS, payments, sub-trust accounts | 24 Comments »