submitted by Brian Davies
EDITOR’S NOTE: By naming only the originating lender of record — that is, the only instrument in the title record as per the county recording office, you immediately shift the burden onto any pretender lender to explain what they are doing in court. If you look down into the records in the link below you’ll see Davies objection and some excellent points he raises. My opinion is that the property value is unknown and unencumbered by a mortgage, if you know about the securitization path. Combine that with our loan specific title review, you get a value to put in if you want to, and then name only the originating lender as a creditor under unsecured claims because the mortgage was split from the note and note was split from the obligation. The MERS assignment is icing on the cake.
It’s my opinion that if you show the home as encumbered by the mortgage it is an admission of the validity of the encumbrance. That is an admission of a “fact” that is probably false. Why would you do that? In my opinion, generally speaking, NONE of these securitized “mortgages” are secured, NONE of the obligations are properly or legally described in the note and NONE of them are properly secured with a perfected lien in favor of an actual creditor. The security instrument is an “incident” to the note. But the note neither names the actual creditor nor discloses the true facts of the deal. The note is contrary to the Good Faith Estimate in that respect as well (a TILA violation).
So the obligation that arose when the borrower took the money is NOT described in the note, at least not completely. That means that the note, which is normally presumed to be evidence of the obligation, is not a complete description of the obligation and in fact is not even correct insofar as it identifies the creditor or lender. The note also does not contain the terms of the mortgage bond given to the lender (investor).
The mortgage bond received by the lender (investor) contains terms and parties that are not included in the note. Neither the bond nor the note are complete descriptions of the obligation.
Thus neither the note nor the bond can be accepted into evidence as the complete statement of the obligation. Even together they fail to show the actual path that the money traveled and they provide the context and conditions under which the note or mortgage could be accepted by the pool —- conditions that were in nearly ALL cases unfulfilled. There can be no proper accounting of the amount due nor a determination of whether there is an actual default (failure of the CREDITOR to receive payment, not merely the the failure of the borrower to make a payment which might not be due).
MOTION FOR RELIEF FROM STAY BY ONEWEST. A PARTY NOT EVEN MENTIONED IN THE CHAPTER 7 FILING. HOWEVER, MOVANT ONEWEST COMES INTO THE COURT WITH 1) NO STANDING, 2) FALSIFIED AFFIDAVITS 3) DISCOLORED NOTES NOT COPIES OF THE ORIGINALS 4) SIGNED AFFIDAVITS BY BRIAN BARNHILL THAT ARE INACCURATE 5) DEED OF TRUST THAT IS FAULTY AND NOT PERFECTED 6) A SECOND ASSIGNMENT OF THE DEED OF TRUST WHICH TRIES TO CORRECT SECURITY INTEREST AND TITLE ISSUES.. DEBTOR ASKS FOR SANCTIONS. READ THE ENTIRETY AS IT IS LISTED AS UNSECURED DEBT, ONLY ORIGINATOR IS LISTED
They will get caught
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud | Tagged: bankruptcy, creditor, encumbrance, MLS, mortgage bond, motion to lift stay, note, Obligation, secured, standing | 14 Comments »