NEW LOAN CLOSINGS — BEWARE!!!— NonJudicial Deeds of Trust Slipped into New Mortgage Closings in Judicial States

Posted on December 29, 2014 by Neil Garfield

For more information please call 520-405-1688 or 954-495-9867

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IF YOU ARE HAVING A CLOSING ON A REFI OR NEW LOAN BEWARE OF WHAT DOCUMENTS ARE BEING USED THAT WAIVE YOUR RIGHTS TO CONTEST WRONGFUL FORECLOSURES — GET A LAWYER!!!

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EDITOR’S NOTE: It is no secret that the Bank’s have a MUCH easier time foreclosing on property in states that have set up non-judicial foreclosure. Banks like Bank of America set up their own “Substitute Trustee” (“RECONTRUST”) — the first filing before the foreclosure commences. In this “Substitution of Trustee” Bank of America declares itself to be the new beneficiary or acting on behalf of the new beneficiary without any court or agency verification of that claim. So in essence BOA is naming itself as both the new beneficiary (mortgagee) and the “Trustee” which is the only protection that the homeowner (“Trustor”). This is a blatant violation of the intent of the the laws of any state allowing nonjudicial foreclosure.
The Trustee is supposed to serve as the objective intermediary between the borrower and the lender. Where a non-lender issues a self serving statement that it is the beneficiary and the the borrower contests the “Substitution of Trustee” the OLD trustee is, in my opinion, obligated to file an interpleader action stating that it has competing claims, it has no interest in the outcome and it wants attorneys fees and costs. That leaves the new “beneficiary” and the borrower to fight it out under the requirements of due process. An Immediate TRO (Temporary Restraining Order) should be issued against the “new” Trustee and the “new” beneficiary from taking any further action in foreclosure when the borrower denies that the substitution of trustee was a valid instrument (based in part on the fact that the “beneficiary” who appointed the “substitute trustee” is not the true beneficiary. This SHOULD require the Bank to prove up its case in the old style, but it is often misapplied in procedure putting the burden on the borrower to prove facts that only the bank has in its care, custody and control. And THAT is where very aggressive litigation to obtain discovery is so important.
If the purpose of the legislation was to allow a foreclosing party to succeed in foreclosure when it could not succeed in a judicial proceeding, then the provision would be struck down as an unconstitutional deprivation of due process and other civil rights. But the rationale of each of the majority states that have adopted this infrastructure was to create a clerical system for what had been a clerical function for decades — where most foreclosures were uncontested and the use of Judges, Clerks of the Court and other parts of the judicial system was basically a waste of time. And practically everyone agreed.
There are two developments to report on this. First the U.S. Supreme Court turned down an appeal from Bank of America who was using Recontrust in Utah foreclosures and was asserting that Texas law must be used to enforce Utah foreclosures because Texas was allegedly the headquarters of Recontrust. So what they were trying to do, and failed, was to apply the highly restrictive laws of Texas with a tiny window of opportunity to contest the foreclosure in the State of Utah that had laws that protected consumers far better than Texas. The Texas courts refused to apply that doctrine and the U.S. Supreme court refused to even hear it. see WATCH OUT! THE BANKS ARE STILL COMING!
But a more sinister version of the shell game is being played out in new closings across the country — borrowers are being given a “Deed of Trust” instead of a mortgage in judicial states in order to circumvent the laws of that state. By fiat the banks are creating a “contract” in which the borrower agrees that if the “beneficiary” tells the Trustee on the deed of trust that the borrower did not pay, the borrower has already agreed by contract to allow the forced sale of the property. See article below. As usual borrowers are told NOT to hire an attorney for closing because “he can’t change anything anyway.” Not true. And the Borrower’s ignorance of the difference between a mortgage and a deed of trust is once again being used against the homeowners in ways that are undetected until long after the statute of limitations has apparently run out on making a claim against the loan originator.
THIS IS A CLEAR VIOLATION OF STATE LAW IN MOST JUDICIAL STATES — WHICH THE BANKS ARE TRYING TO OVERTURN BY FORCING OR TRICKING BORROWERS INTO SIGNING “AGREEMENTS” TO ALLOW FORCED SALE WITHOUT THE BANK EVER PROVING THEIR CASE AS TO THE DEBT, OWNERSHIP AND BALANCE. Translation: “It’s OK to wrongfully foreclose on me.”
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Foreclosure News: Who Gets to Decide Whether a State is a Judicial Foreclosure State or a Non-Judicial Foreclosure State, Legislatures or the Mortgage Industry?

posted by Nathalie Martin
Apparently some mortgage lenders feel they can make this change unilaterally. Big changes are afoot in the process of granting a home mortgage, which could have a significant impact on a homeowner’s ability to fight foreclosure. In many states in the Unites States (including but not limited to Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin), a lender must go to court and give the borrower a certain amount of notice before foreclosing on his or her home. Now the mortgage industry is quickly and quietly trying to change this, hoping no one will notice. The goal seems to be to avoid those annoying court processes and go right for the home without foreclosure procedures. This change is being attempted by some lenders simply by asking borrowers to sign deeds of trust rather than mortgages from now on.
Not long ago, Karen Myers, the head of the Consumer Protection Division of the New Mexico Attorney General’s Office, started noticing that some consumers were being given deeds of trust to sign rather than mortgages when obtaining a home loan. She wondered why this was being done and also how this change would affect consumers’ rights in foreclosure. When she asked lenders how this change in the instrument being signed would affect a consumer’s legal rights, she was told that the practice of having consumers sign deeds of trust rather than mortgages would not affect consumers’ rights in foreclosure at all. Being skeptical, she and others in her division dug further into this newfound practice to see if it was widespread or just a rare occurrence in the world of mortgage lending. Sure enough, mortgages had all but disappeared, being replaced with a deed of trust.
As a general matter, depending on the law in a state, a deed of trust can be foreclosed without a court’s involvement or any oversight at all. More specifically, the differences between judicial and non-judicial foreclosures are explained here in the four page document generated by the Mortgage Bankers’ Association. It is not totally clear whether this change will affect the legal rights of borrowers in all judicial foreclosure states, but AGs around the country should start looking into this question. Lenders here in New Mexico insist that this change in practice will not affect substantive rights but if not, why the change? The legal framework is vague and described briefly here.
Eleven lenders in New Mexico have been notified by the AG’s Office to stop marketing products as mortgages when, in fact, they are deeds of trust, according to Meyers and fellow Assistant Attorney General David Kramer. As a letter to lenders says: “It is apparent … that the wholesale use of deeds of trusts in lieu of mortgage instruments to secure home loans is intended to modify and abrogate the protections afforded a homeowner by the judicial foreclosure process and the [New Mexico] Home Loan Protection Act.”

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BOA’s Recontrust Thrown Out of Washington State as Substitute Trustee

Posted on August 21, 2012 by Neil Garfield

Editor’s Note: Same caveat as before — this consent ruling, although potentially persuasive to other courts is not evidence of the violations in and of itself, but provides a good pep talk to attorneys out there who are too timid to make statements about the treachery in the acts of the Bank of America, and all others who use the ‘substitution of trustee” as a vehicle to foreclose on properties.

Second caveat: this does not mean that the mortgages are invalid which is a separate subject. Nor does it necessarily mean that Joe Banker (see prior post) has problems when it comes to identifying the creditor and establishing the status of the loan receivable account (primarily because no such account exists, except at the subservicer level which is at best only a partial snapshot of the entire list of transactions concerning each loan subject to claims of securitization.

What it DOES mean is that Recontrust is not doing business in Washington anymore and can’t come back. If it wants to come back, and alternatively one might infer if ANYONE wants to be a substitute trustee or foreclosing trustee, they must meet the following requirements:

1. Maintain physical presence in the State with adequate staffing and knowledgeable people who can actually answer substantive questions about the loan status or so-called default status.

2. The office must be authorized to accept payments to reinstate a mortgage.

3. The office must be authorized in all respects to postpone, reschedule or cancel the foreclosures (this taking out the layers of corporate bureaucracy) which means that someone with real decision-making authority must be physically present in the office during normal business hours.

4. Discloses the contact information for the State office to the borrower.

5. Identifies the actual creditor with a loan receivable that is due and the same information for the authorized servicer for that loan.

6. Provides proof that the “note holder” actually has an enforceable interest. That means they must show and prove the existence of the actual loan receivable and the person or entity to whom the obligation is owed.

7. Applies fees and costs only as allowed by law.

8. Acts in good faith toward the borrower. “For purposes of this Consent Judgment only, it is a breach of good faith to enter into an agreement with a note owner, beneficiary or its agent wherein Defendant agrees to stop or postpone a foreclosure only when approved by the note owner, beneficiary or agent, or to defy solely to a single party when acting as a trustee.” [That is because it is a breach of the statutory duties of the trustee to bind itself contractually to following the orders of the beneficiary only and not include the duties of good faith toward the Trustor].

9. They cannot act as both trustee and beneficiary. [Implication: if the Trustee that is substituted is owned or controlled, contractually or otherwise, by the beneficiary they may not serve as Trustee.]

10. Trustees cannot only refer to defaults in fact, not as reported. What this means in terms the degree of due diligence required is yet to be determined.

see WA-Recontrust Consent Decree

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9TH CIRCUIT: MERS and ReconTrust act to usurp Appellant’s property without lawful authority”

Posted on November 21, 2011 by Neil Garfield

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FROM THE BRIEFS:

“MERS Cannot be and in fact is not the beneficiary of the
DOT. There is no named beneficiary in the SOT and ANY and ALL beneficiaries
must be named in the SOT. Therefore the SOT (and consequently the NTS) is
seriously defective and void as an instrument to be implemented to supplant
Appellant from his property.”

“Countrywide was an active conspirator as it allowed BondCorp to utilize its
technological assets, its underwriting resources, account numbering system and
other aids and benefits to entrap Appellant into a loan that was damaging, stated
the wrong parties and took illegal and undisclosed fees.”

EDITOR’S NOTE: The 9th Circuit is inching closer and closer to an outright statement that the foreclosures were fraudulent and illegal. And for the first time it is taking issue with the appointment by Bank of America of ReContrust as “trustee” under the deed of trust. Clearly the replacement of the court system with a qualified trustee was intended to expedite due process, not eliminate it. Every time a substitution of trustee is executed it raises the high probability that the would-be forecloser is appointing itself as the trustee in order to escape the reality that it is not a creditor or proper holder of the loan.

CARNEY vs. BANK OF AMERICA | 9th Circuit Ct. Appeals “It is clear that MERS and ReconTrust act to usurp Appellant’s property without lawful authority”

CARNEY vs. BANK OF AMERICA | 9th Circuit Ct. Appeals “It is clear that MERS and ReconTrust act to usurp Appellant’s property without lawful authority”

“MERS, something of a phantom entity and ReconTrust, subsidiary of BAC and not an independent entity, acting in BAC/BANA/Countrywide’s interests, now are trying to come in and clean up the mess made by the fraudulent DOT and Note by BondCorp in a conspiracy with Countrywide, not because they are any real beneficiary and have or will experience any real loss, but rather to gain substantial fees from the SARM 2005-19XS Trust for foreclosing on Appellant’s property.

It is truly curious as to why the proper parties in this matter are not named and Appellant posits that other, unrelated legal actions are likely a reason. That said, Appellant has shown good cause why a trustee’s sale should not proceed so that the status quo is maintained while he presses his case in the District Court.”

No. 11-56421

UNITED STATES COURT OF APPEALS
FOR THE NINTH CIRCUIT

________________________________________________________
MICHAEL M. CARNEY
Plaintiff

v.

BANK OF AMERICA CORP., ET AL.
Defendants-Appellees

EXCERPT:

III. Merits Of Case Are Compelling And Clear And Likely to Be Successful.
It is clear that MERS and ReconTrust act to usurp Appellant’s property
without lawful authority. MERS Cannot be and in fact is not the beneficiary of the
DOT. There is no named beneficiary in the SOT and ANY and ALL beneficiaries
must be named in the SOT. Therefore the SOT (and consequently the NTS) is
seriously defective and void as an instrument to be implemented to supplant
Appellant from his property.

Defendants act hurriedly and without authority not because they are
uninformed or have made an excusable mistake, but rather because they wish to
elude the central facts and claims against them, hold the wrongful trustee’s sale
and gain title and possession of Appellant’s property to gain a superior position.

The facts are that BondCorp, who has yet to respond to any complaint or
motion related to this case, was in fact named as “Grantee” when it never proffered
any funds and was used by Countrywide to both gain secret, concealed fees and
allow Countrywide to further gain based on intentional concealments, lies,
misrepresentations and related actions.

As has been stated, the core of this matter is the claims against BondCorp
acting at the behest of Countrywide. If BondCorp was found to have acted
fraudulently, as asserted and supported by facts, every other claim and defense is
affected accordingly.

What this court is presented with is a defendant in BondCorp who has
chosen to remain silent in the face of substantial allegations and facts against it,
and a foreclosing entity defendant (MERS) that is acting without authority and in
clear violation of the law.

Meanwhile, Appellant has had to defend and counter all such actions and to
drag out all the facts, all while in the face of losing his family home and efforts to
understand what options would be available to him to avert such a catastrophic
result.

Up until August/September of 2010, Appellant was resigned to the fact that
his misfortune would likely lead to the loss of his family home. It wasn’t until he
received and further researched the information regarding the assignment/transfer
of his DOT and Note to US BANK (June 2010) that was entirely first time news to
him, that he began to understand and realize the fraud, malfeasance and
misfeasance enacted upon him and then which drove him to seek relief and
damages for.

The facts of the case as pertains to BondCorp are clear and undisputed.
BondCorp was not the “lender”. It only acted as such to attain secret fees.
BondCorp utilized illegal, fraudulent means to sell and convince Appellant that the
loan BondCorp wished to engage him in was in his best interests, when it was not
and that all the facts represented to him regarding the alleged loan were true, when
they were not and the real facts were concealed from him and that he was
defrauded of tens of thousands of dollars in the process.

Countrywide was an active conspirator as it allowed BondCorp to utilize its
technological assets, its underwriting resources, account numbering system and
other aids and benefits to entrap Appellant into a loan that was damaging, stated
the wrong parties and took illegal and undisclosed fees.

MERS, something of a phantom entity and ReconTrust, subsidiary of BAC
and not an independent entity, acting in BAC/BANA/Countrywide’s interests, now
are trying to come in and clean up the mess made by the fraudulent DOT and Note
by BondCorp in a conspiracy with Countrywide, not because they are any real
beneficiary and have or will experience any real loss, but rather to gain substantial
fees from the SARM 2005-19XS Trust for foreclosing on Appellant’s property.
It is truly curious as to why the proper parties in this matter are not named
and Appellant posits that other, unrelated legal actions are likely a reason. That
said, Appellant has shown good cause why a trustee’s sale should not proceed so
that the status quo is maintained while he presses his case in the District Court

www.StopForeclosureFraud.com

  1. CARNEY v. BANK OF AMERICA | California Dist. Court “TRO, MERS Interest Discrepancies, ReconTrust may NOT be the Proper Trustee w/ Legal Authority” UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA SOUTHERN DIVISION…
  2. BAKRI v MERS, BONY, TROTT & TROTT PC | Michigan Appeals Court REVERSED “MERS did not have the authority to foreclose by advertisement, No interest in Note” S T A T E  O F  M I C…
  3. CERVANTES RE 9th CIRCUIT OPINION CONTAINS ERROR ON MERS’ LEGAL TITLE Via: LIVING LIES DISTINCTION BETWEEN LENDER AND BENEFICIARY ROOT OF…
  4. BOMBSHELL – JUDGE ORDERS INJUNCTION STOPPING ALL FORECLOSURE PROCEEDINGS BY BANK OF AMERICA; RECONTRUST; HOME LOAN SERVICING; MERS ET AL Via: 4ClosureFraud (St. George, UT) June 5, 2010 – A…
  5. U.S. Bank Natl. Assn. v Mayala | NY Appeals Court 2nd Jud. Dept. Affirms, Consolidated Case “That certain mortgages held by MERS on the subject real property are invalid in their entirety” Decided on August 23, 2011 SUPREME COURT OF THE STATE…

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UTAH ATTORNEY SUCCEEDS IN GETTING REMOVAL TO FEDERAL CT REMANDED BACK TO STATE CT CONVERTING NON-JUDICIAL TO JUDICAL FORECLOSURE

Posted on September 30, 2011 by Neil Garfield

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LAWYER OVERCOMES PRESUMPTION OF VALIDITY OF TRUSTEE DEED IN UTAH

 EDITOR’S NOTE: BOA and Recontrust, their puppet “substitute trustee” have stumbled into a quagmire and attorney John Christian Barlow has seized the opportunity to shine a light on the illegal foreclosures by BOA and Reconstrust. This might have national implications. 
BOA and Recontrust made all the way through the usual fake auction and some underling signed a Trustee Deed. Under State Law the Trustee is presumed valid, which is to say, properly procured. But Barlow attacked the validity of the sale in the eviction action where BOA sought to obtain possession. As in other cases he recently started fighting, he attacked the validity of the sale. By raising serious issues concerning the auction, “sale” and the pattern of conduct, Barlow succeeded in overcoming the presumption of the validity of the Trustee Deed.
This left BOA with a naked deed that needs to be authenticated and validated by the Utah State Court. BOA and Reconstruct actually stumbled twice by invoking their “right” to Remove the case to Federal Court where the Judges have been friendlier to banks. Tearing apart the arguments one by one, the Federal Judge said that Recontrust and BOA had argued themselves into a corner thus depriving the Federal Court of jurisdiction since this was obviously a matter to be heard in state court, as to whether the eviction could proceed.
The written opinion of the Federal Judge alerted the State Judge to inconsistencies in the positions argued by BOA and Reconstrust. So the whole case now is going to be heard judicially as to whether the eviction is proper — a  finding that is entirely dependent upon whether the Trustee’s Deed will stand up to scrutiny and be sustained — or if the Trustee’s Deed is removed or expunged from the title records because of the various illegal actions with which we are all now too familiar.
Once the Trustee Deed is discredited  (it is already put in doubt by Attorney Barlow and the findings of the Federal Judge), title reverts back to the homeowner and they get to stay in their home and they can negotiate with the real creditor in good faith.
Utah law is not the same, but is similar to many other states. Check with a lawyer before you assume anything or do anything. But the fact remains that removal to state court can be challenged (Motion for remand) and the non-judicial sale can be converted into a judicial foreclosure proceeding — something no banks wants because they must allege and prove things that are simply not true. That it was done in an eviction proceeding is all the more impressive but it is also logical that it occur there because it is not until after the pretender has committed itself in writing to each and every act that they can no longer play musical chairs or musical documents to give the Judge “what he wants.”

(Salt Lake City, UT) – St. George attorney John Christian Barlow, representing homeowners who have lost their home to the Bank of America’s (NYSE: “BAC”) foreclosure machine ReconTrust, may have finally achieved a measure of success in the battle of Utah homeowners against ReconTrust’s illegal foreclosures.

Federal Judge Clark Waddoups Thursday returned to Utah Fifth District Court in St. George a case in which ReconTrust was named as a third-party in the complaint claiming immunity under the National Bank Act in an unlawful detainer action. (ORDER and MEMORANDUM DECISION)

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Utah Judge Stops All Foreclosures by BofA, Reconstrust, Home Loan Services et al

Posted on June 7, 2010 by Neil Garfield

6 05 10Injunction-Stopping-ALL-Foreclosure-Proceedings-by-Bank-of-America-Rec-on-Trust-Home-Loan-Servicing-Et-Al1

Bombshell – Judge Orders Injunction Stopping ALL Foreclosure Proceedings by Bank of America; Recontrust; Home Loan Servicing et al Today, June 06, 2010, 2 hours ago | Foreclosure Fraud

(St. George, UT) June 5, 2010 – A court order issued by Fifth District Court Judge James L. Shumate May 22, 2010 in St. George, Utah has stopped all foreclosure proceedings in the State of Utah by Bank of America Corporation, ; Recontrust Company, N.A; Home Loans Servicing, LP; Bank of America, FSB; www.envisionlawfirm.com. The Court Order if allowed to become permanent will force Bank of America and other mortgage companies with home loans in Utah to adhere to the Utah laws requiring lenders to register in the state and have offices where home owners can negotiate face-to-face with their lenders as the state lawmakers intended (Utah Code ‘ 57-1-21(1)(a)(i).). Telephone calls by KCSG News for comment to the law office of Bank of America counsel Sean D. Muntz and attorney Amir Shlesinger of Reed Smith, LLP, Los Angeles, CA and Richard Ensor, Esq. of Vantus Law Group, Salt Lake City, UT were not returned.

The lawsuit filed by John Christian Barlow, a former Weber State University student who graduated from Loyola University of Chicago and receive his law degree from one of the most distinguished private a law colleges in the nation, Willamette University founded in 1883 at Salem, Oregon has drawn the ire of the high brow B of A attorney and those on the case in the law firm of Reed Smith, LLP, the 15th largest law firm in the world.

Barlow said Bank of America claims because it’s a national chartered institution, state laws are trumped, or not applicable to the bank.

That was before the case was brought before Judge Shumate who read the petition, supporting case history and the state statute asking for an injunctive relief hearing filed by Barlow. The Judge felt so strong about the case before him, he issued the preliminary injunction order without a hearing halting the foreclosure process. The attorney’s for Bank of America promptly filed to move the case to federal court to avoid having to deal with the Judge who is not unaccustomed to high profile cases and has a history of watching out for the “little people” and citizen’s rights.

The legal gamesmanship has begun with the case moved to federal court and Barlow’s motion filed to remand the case to Fifth District Court.

Barlow said is only seems fair the Bank be required to play by the rules that every mortgage lender in Utah is required to adhere; Barlow said, “can you imagine the audacity of the Bank of America and other big mortgage lenders that took billions in bailout funds to help resolve the mortgage mess and the financial institutions now are profiting by kicking people out of them homes without due process under the law of the State of Utah.

Barlow said he believes his client’s rights to remedies were taken away from her by faceless lenders who continue to overwhelm home owners and the judicial system with motions and petitions as remedies instead of actually making a good-faith effort in face-to-face negotiations to help homeowners. “The law is clear in Utah,” said Barlow, “and Judge Shumate saw it clearly too. Mortgage lender are required by law to be registered and have offices in the State of Utah to do business, that is unless you’re the Bank of America or one of their subsidiary company’s who are above the law in Utah.”

Barlow said the Bank of America attorneys are working overtime filing motions to overwhelm him and the court. “They simply have no answer for violating the state statutes and they don’t want to incur the wrath of Judge Shumate because of the serious ramifications his finding could have on lenders in Utah and across the nation where Bank of America and other financial institutions, under the guise of a mortgage lender have trampled the rights of citizens,” he said.

“Bank of America took over the bankrupt Countrywide Home Loan portfolio June 3, 2009 in a stock deal that has over 1100 home owners in foreclosure in Utah this month alone, and the numbers keep growing,” Barlow said.

The second part of the motion, Barlow filed, claims that neither the lender, nor MERS*, nor Bank of America, nor any other Defendant, has any remaining interest in the mortgage Promissory Note. The note has been bundled with other notes and sold as mortgage-backed securities or otherwise assigned and split from the Trust Deed. When the note is split from the trust deed, “the note becomes, as a practical matter, unsecured.” Restatement (Third) of Property (Mortgages) § 5.4 cmt. a (1997). A person or entity only holding the trust deed suffers no default because only the Note holder is entitled to payment.

Basically, “[t]he security is worthless in the hands of anyone except a person who has the right to enforce the obligation; it cannot be foreclosed or otherwise enforced.” Real Estate Finance Law (Fourth) §

5.27 (2002).

*MERS is a process that is designed to simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.

Created by the real estate finance industry, MERS eliminates the need to prepare and record assignments when trading residential and commercial mortgage loans. www.mersinc.org

—

Jake Naumer  Union Capital

Licensed Financial Advisor

3187 Morgan Ford

St Louis Missouri 63116

314 961 7600

Fax Voice Mail 314 754 9086

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VICTORY IN MONTANA: PRELIMINARY INJUNCTION ISSUED AGAINST MERS, RECONTRUST, AND COUNTRYWIDE

Posted on May 27, 2010 by Neil Garfield

VICTORY IN MONTANA: PRELIMINARY INJUNCTION ISSUED AGAINST MERS, RECONTRUST, AND COUNTRYWIDE Today, May 25, 2010, 4 hours ago | Jeff Barnes May 25, 2010

A Montana Circuit Judge entered a preliminary injunction yesterday enjoining MERS, Recontrust, and Countrywide from undertaking any action to sell, encumber, or transfer the borrower’s property during the pendency of the borrower’s lawsuit challenging a non-judicial foreclosure. The Notice of Trustee’s Sale fraudulently represented that there was an “obligation owed to MERS” when there was never any such obligation, and there is no evidence of any lawful assignment of either the Note or the Deed of Trust from the original lender to anyone. None of the Defendants appeared for the hearing.

The borrower had previously obtained a Temporary Restraining Order which stopped the Trustee’s Sale. Yesterday’s ruling converted the TRO into a preliminary injunction for the duration of the litigation.

This is FDN’s second victory in Montana. The borrowers in both cases are represented by Jeff Barnes, Esq., assisted by local Montana counsel Eric Hummel, Esq.

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Forensic analysis, DISCOVERY: BofA Hides Behind Reconstrust Subsidiary

Posted on April 2, 2010 by Neil Garfield

Editor’s Notes: Bank of America is smarter than most. It has created a web of companies whose function is to perform activities that hide the fact that it is Bank of America, and there are other pretender lenders who hide behind this entity who suddenly appears as “trustee” or some other entity claiming the right to enforce the note, foreclose the mortgage, lift the stay or whatever. Recontrust is one of them, and it agrees with its “customers” that it will never make a REAL claim to the obligation, note or mortgage. But it also agrees to make claims and pursue foreclosures as though they were the creditor, reporting back later on what happened.

RECONTRUST APPARENTLY HAS 12 EMPLOYEES. Yet it handles virtually the whole country for Countrywide Loans, BofA and others. From what I can see it is a sham corporation with sham functions much the same as MERS and other players invented to make this process more complicated. Taking the cue from one of our readers, I did some additional research and found no less than four addresses in four states for this company, obviously designed to give you the run-around. So if you contact one office you are told to contact another. And if you contest their right to issue a notice of default, notice of sale or file a foreclosure lawsuit or defend your own lawsuit to stop them they have plenty of newly fabricated paperwork to justify their position, because that is apparently all they do.

If you want to test this, just call them and ask about a property that is not in foreclosure. They have nothing. So the only reason we see them is to provide cover for the pretender lenders and give them plausible deniability if they come up against a judge or has their number and now wants to award damages, attorney fees, or fines.

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The following states have sold properties.
Click on the state to view information.

State Number of Properties
Alaska 18
Arizona 1783
Arkansas 66
California 4430
Idaho 214
Mississippi 50
Montana 47
Nebraska 26
Nevada 586
Oregon 114
Tennessee 107
Texas 99
Utah 185
Virginia 156
Washington 135
The following states have properties
listed for Trustee Sale.
State Number of Properties
Alaska 200
Arizona 18956
Arkansas 697
California 29862
Idaho 1528
Mississippi 190
Montana 493
Nebraska 129
Nevada 1560
Oregon 4584
Tennessee 480
Texas 1158
Utah 983
Virginia 515
Washington 1245

Our lien release departments, located in Simi Valley, CA, and Tempe, AZ, record documents in more than 3,600 jurisdictions.

Expertise when you need it most.

Let our experienced staff handle your lien release from start to finish. We’ll help you achieve timely releases and reinstatements and improve productivity and efficiency while reducing expenses and boosting your bottom line. We have the capabilities and experience to process reconveyances and lien releases nationwide, regardless of location or volume.

Timely, accurate results.

Lien releases must be filed and recorded within a very short time following the satisfaction of a lien. We don’t just promise timely turnarounds—we deliver on that promise. When you outsource your lien release program to ReconTrust, you get a partner that’s committed to reducing your liability and administrative costs while providing accurate, compliant results.
We control financial risk by adhering to strict compliance standards at state and local levels. That means your files are processed on time within compliance statutes in all jurisdictions. Using state-of-the-art technology, we also provide accurate, efficient document preparation and management to help you meet required deadlines.

Reduced costs. Improved productivity.

Our team of experts handles releases nationwide, resolves exception files and clears backlogs. We offer an array of customized solutions to resolve your lien release concerns.
We also handle partial release requests. We review, analyze and process each request based on your lender guidelines, and ensure that the outcome will have a positive impact on your business.
The benefits of lien release outsourcing are many. You save time and money, because we help mitigate rising staffing costs and fluctuating workloads. When you need a partner in lien release services, turn to ReconTrust.

Looking for a JOB?:

Job Description:

Review and audit Trustee’s Sale Guarantees (TSG’s) for accuracy; correct deficiencies; input data from the TSG into ReconTrust operating system (FPS); Trustee’s Sale Processors may assist Trustee’s Sale Officers with file audits;This position requires fairly continuous data entry for several hours each day. MUST HAVE Mortgage &/or Title Experience – NO EXCEPTIONS Keywords: Company Confidential, Dallas, Data Entry – MUST HAVE TITLE EXPERIENCE, Sales / Marketing / Pr, Dallas, Texas

ReconTrust’s Employees

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Jim Taylor

President

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VP, Risk Management

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Sr. Bus. Analyst,…

Lorena Castillo-Ruiz

Avp

Denise Sletten

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Eva Tapia

Jeffrey Aiken

Rebecca Baney

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Rising foreclosure activities can be a distraction for any servicer. If you’re not positive your business is prepared to handle the rising numbers, let’s talk. ReconTrust’s default management services could take the weight off your operations, so you can focus on your core business.
We provide foreclosure services in 16 states.

If you are having difficulty making your mortgage payments, there may be options available to help you avoid foreclosure. Please click the link below for more information.

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ReconTrust Company, N.A. is a wholly-owned subsidiary of Bank of America, N.A.
Bank of America, N.A. Member FDIC. Equal Housing Lenders  Some products may not be available in all states.

© 2010 Bank of America Corporation. All rights reserved.

Unaffiliated companies or web sites may report on ReconTrust’s business activities. However, for the most reliable and current information regarding ReconTrust’s business, please contact us directly at (800) 281-8219 or by mail at 1800 Tapo Canyon Road, Simi Valley, CA 93063.

Home > Contact Us
Corporate Headquarters:
Default and Special Release Services

Phone:1-800-281-8219
Address:
2380 Performance Drive,
Richardson, TX 75082
Mail Stop: RGV-C4-450

Real Estate Owned (REO)
If you have questions or inquiries regarding REO purchases, unlisted purchases, investor-owned information, city violations, REO broker applications, REO vendor management, or broker complaints please call the REO Customer Escalation Team at: (866) 781-0029.

Headquartered in Thousand Oaks, CA, ReconTrust is a member of the Bank of America family of companies. That means when you turn to ReconTrust, you leverage the resources, technology, scale, and strength of one of the largest financial services companies in the world.
We understand the needs of the mortgage industry, and we are committed to delivering top-flight results. What is more, we share our parent company’s dedication to quality and continuous improvement. To that end, we are committed to offering our clients the highest levels of service, responsiveness, and accuracy.
Our goal is to boost your bottom line by reducing costs, increasing the efficiency of your business and improving the effectiveness of your mortgage operations. In short, we make your best execution happen.
ReconTrust is the name you can trust, and a partner you can rely on. Call us today to find out how to put our expertise to work for you.

Filed under: bubble, CDO, CORRUPTION, currency, Eviction, expert witness, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud, Servicer | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 14 Comments »

BAC assigned a note in 2010 that they sold in 2003

Posted on March 25, 2010 by Neil Garfield

Editor’s Note: Recontrust appears to be wholly owned by Bank of America. This particular deal looks like a “reconstituted” mortgage backed security comprised of new securities which are “backed” by old mortgage backed securities which in turn are backed by a list of “loans” which may or may not exist, and which certainly have at least in part been paid in whole or in part through insurance, credit default swaps and federal bailout.

From the comment Section of the Blog:

ReconTrust filed a NOD on behalf of BAC “servicer” for GRS Mort. Trust 2003-9, seven days later filed an assignment to GSR Mort. Trust of the deed of trust and note dated 8-13-03. I had no notice of GRS or Recontrust until seven years later. It looks like BAC assigned a note in 2010 that they sold in 2003. It also appears a pattern of fraud is occuring with all of us as their victims. If anyone knows what GSR Mortgage stands for please inform. I any one is interested in exposing the pattern let me know. I have 40 days before the notice of sale. I’m also pursuing this pro se.

Filed under: bubble, CORRUPTION, credit unions, currency, education, Eviction, expert witness, foreclosure, foreclosure mill, Forensic Analysis Workshop, GTC | Honor, HERS, Investor, MODIFICATION, Mortgage, Motion Practice and Discovery, securities fraud, Securitization Survey, Servicer, STATUTES, workshop | Tagged: , , , , , , , , , , , , , | 20 Comments »

Verifying that the ‘Substitute Trustee’ is indeed a TRUST

Posted on February 25, 2010 by Neil Garfield

BTW, I ask about verifying that the ‘Substitute Trustee’ is indeed a TRUST since I saw a post that made a point that any named ‘TRUSTEE’ must really be a TRUST.

Quality Loan Servicing was nominated by Litton Loan Service’s employee (via MERS) as the Substitute Trustee in place of ReconTrust.

I may have a case where BofA was in too many of the ‘roles’. The servicing was transferred on the very day the modified payments were to start per a signed and notarized mortgage modification agreement. The transfer was an attempt to justify the ‘mod’ not ‘happening’. RESPA does not agree with that. They ignored me. They never contacted me about any reason the mod was not occurring. I had been assured it was ‘my mod’. The BofA employees have stated that ‘all AG Mods’ were canceled. Well, they think that is the word. Actually the correct term is ‘BREACHED’.

So now I have some funny-looking documents being filed and what appears to be a bogus attempt to foreclose. Who knows who really has the note. Litton has filed documents saying that the ‘investor’ is CWABS with BoNY-MELLON as the trustee. Strangely BofA claims to be the beneficiary in more-recently filed documents in my court case. If BofA is ACTING for the investor, what the hell is Litton doing? The beneficiary LITTON should be ‘working for’ would seem to be the CWABS trustee. Certainly, I question whether BofA would have bought the mortgage back from the pooling (CWABS) once it was in litigation without advising the court at least. I do not understand how I can have BofA make the claim that they ARE the ’successor beneficiary’ when CWABS was otherwise identified as the ‘investor’.

Also, how would they deal with the original ‘Lender’ being a fictitious business name and the only beneficiary named is MERS as ‘nominal beneficiary’? Will I have more fictitious assignments to be looking for?

Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud, Servicer | Tagged: , , , , , , , , , , , , , , , , , , , , , | 3 Comments »

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