Subject: FW: I thought you would like to see this…
Date: Fri, 30 Oct 2009 11:22:50 -0400
I wanted to follow up on the email I sent you on the 15th of this month.
I’d like to know if the 18th Circuit Court is aware that Brevard County
property owners are being stripped of their homes without due process
of law? This mainly happens in uncontested foreclosure cases where
plaintiffs that lack standing are steam-rolling over homeowners who
have no clue as to their rights to have a full set of accounting on
their transaction before walking away from their homes. Most often,
uncontested foreclosure cases are being brought forward (under the
guise of legitimacy), by parties who have no beneficial
interest whatsoever in the loan, have not lent any money, cannot
properly demonstrate the chain of custody of the note itself and have
not suffered any loss relative to the note.
Consider the recent Federal Racketeering charges against Countrywide/BofA for
altering documentation pertaining to home loans in order to “hide”
blatant errors. Complaints from more than 10,000 individuals have
prompted the investigation. If you know that BofA was engaged in these dirty types of practices to hide fraudulent assignments and such, chances are
other large companies were (and probably still are) engaging in this
THIS IS A DIRECT RESULT OF SECURITIZATION. Nobody is able to bring a full set of accounting to the table which discloses the “true” lien-holder, proof of lien & the total amount of compensation earned via flipping notes, cross-collateralization,
cross-insuring, Tarp funds, etc. It is estimated that a majority (90%)
of loans were securitized from 2001 to 2008. More than likely the notes
were intentionally destroyed to stop the audit trail.
How do we know if these notes ended up making it through to the trust?
Moreover, if the note was sold to a REMIC (tax free entity) why then are we paying the banks TARP money for unsold MBS? Where is that note, who owns it and do the parties that bring forward litigation in the 18th Circuit Court have standing to
bring such actions? We may never know unless the courts demand it.
I submit that loans were extinguished on one set of books yet still exists on another separate set of books. Investors (the real lender who purchased the securities) are the ones who put up the money and have the right to make a claim, not a mortgage “servicer”. The investors probably have no clue that their assets are being removed from trust and sold.
If they did know – you would not see so many “lost note” affidavits
upon filing and then have them “magically appear” after the borrower
has vacated their home. FAS & GAAP (ENRON) type accounting fraud is MASSIVE in this mess!
Please reply when time permits. I look forward to hearing from you.