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Is "We Can't Find The Title" a barrier to your foreclosure"? Are your homeowners exerting [View All]

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jtuck004 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-03-10 03:07 PM
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Is "We Can't Find The Title" a barrier to your foreclosure"? Are your homeowners exerting
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Edited on Sun Oct-03-10 03:19 PM by jtuck004
their rights, protected by those crazy regulations, like "Statue of Limitations"? Are you having to use the old "We know you see us as a multi-billion dollar black hole for your hard-earned tax money, but really "the dog ate the real title" excuse too often?

No Longer - Call Us Today





From Naked Capitalism (and there is a new post detailing thousands of cases of "lost summonhs", implying improper service by the foreclosure mills.)

4ClosureFraud Posts Lender Processing Services Mortgage Document Fabrication Price Sheet

A bombshell has dropped in mortgage land.

We’ve said for some time that document fabrication is widespread in foreclosures. The reason is that the note, which is the borrower IOU, is the critical instrument to establishing the right to foreclose in 45 states (in those states, the mortgage, which is the lien on the property, is a mere “accessory” to the note).

The pooling and servicing agreement, which governs the creation of mortgage backed securities, called for the note to be endorsed (wet ink signatures) through the full chain of title. That means that the originator had to sign the note over to an intermediary party (there were usually at least two), who’d then have to endorse it over to the next intermediary party, and the final intermediary would have to endorse it over to the trustee on behalf of a specified trust (the entity that holds all the notes). This had to be done by closing; there were limited exceptions up to 90 days out...
...
We finally have concrete proof of how widespread document fabrication was. For some reason the ScribD embeds aren’t working correctly, you can view the entire Lender Processing Services price sheet here, ...
...
Also notice that there is a price for creating allonges. We discussed earlier that phony allonges have become the preferred fix for the failure to convey notes properly:


Read about it here...
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