How “Standing” Is Causing the Longest Economic Recovery Since the Great Depression

THE PERFECT CRIME: THE VICTIMS DON’T KNOW ANYTHING

WHY INVESTORS AND BORROWERS SHOULD GET RID OF THE SERVICERS AND REPLACE THEM WITH SERVICING COMPANIES THEY CAN TRUST TO MITIGATE THE LOSSES CAUSED BY INVESTMENT BANKS

HOW? It is simple: since the perpetrators ignored the REMIC trust, didn’t fund them and never intended to actually have the REMIC trusts own the loans, the investors can go directly to homeowners or through their own servicers to settle and modify mortgages. This would leave the investors with claims against the investment banks for the balance of the losses, plus punitive damages, interest and court costs. It is the same logic as piercing the corporate veil — if you pay your grocery bills using the account of your limited liability corporation, the corporate entity is ignored.

Vasquez v Saxon (Arizona supreme Court) revisited

Assume the following facts for purposes of analogy and analysis:

  1. John Jones is a Scammer, previously found to have operated outside the law several times. He conceives of yet another PONZI scheme, but with the help of lawyers he has obscured the true nature of his next scheme. He creates a convoluted scheme that ultimately was never understood by regulators.
  2. The first part of his scheme is to offer shares in a company where the money will be held in trust. The money will be disbursed based upon standards that are promised to incoming investors.
  3. The new company will issue the shares based upon the receipt of money from investors who are buying those shares.
  4. Jones approaches Jason Smartguy, who manages a pension fund for 3,000 employees of ABC Company, a Fortune 500 company.
  5. Jason Smartguy manages the pension funds under strict restrictions. A pension fund is a “stable managed fund” whose investments must be at the lowest risk possible and whose purpose is capital preservation.
  6. John Jones promises Jason Smartguy that the new company will invest in assets that are valuable and stable, and that these investments will pay a return on investment higher than what Jason Smartguy is getting for the pension fund under his management. Jason likes the idea because it gives him employment security and probably bonuses for increasing the rate of return on the funds managed for the pension fund.
  7. The lawyers for John Jones have concealed the PONZI nature of the scheme (paying back investors with their own money and with money from new investors) by disclosing the existing of a reserve fund — consisting entirely of money from Jason Smartguy.
  8. Jason advances $100 Million to John Jones who says he is acting as a broker between the new Company (the one issuing the shares) and the Pension fund managed by Jason Smartguy.
  9. The new Company never receives the money. Instead the money is placed in accounts controlled by people who have no relationship with the new Company.
  10. The new Company never receives title or any documentation showing they own shares of the money pool now controlled by John Jones when it should be controlled by the new Company.
  11. John Jones uses the money to bet against the new Company, insurance on the value of the shares of the new Company, and the proceeds of other convoluted transactions — mostly based on the assumption that John Jones owns the money in the pool and based entirely on the assumption that any assets of the pool therefore belong to John Jones — not the new Company as promised.
  12. John Jones also uses the money to buy assets, so everything looks right as long as you don’t get too close.
  13. The assets Jones buys are designed to look good on paper but are pure trash — which is why John Jones bet against the pool and shares in the pool.
  14. Everyone is fooled. The investors get monthly statements from John Jones along with a check showing that the investment is working just as was planned. They don’t know that the money they are receiving comes entirely from the reserve pool and the meager actual returns from the assets. The insurance company believes that Jones is the owner of the money and the assets purchased with money from the pool created by Jason Smartguy’s advance from the pension fund.
  15. John Jones goes further. He pretends to own the shares of the new Company that actually belong to the pension fund managed by Jason Smartguy. He insures those shares naming himself as the insurance beneficiary and naming himself as the receiver of proceeds from his bets that the shares in the new Company would crash, just as he planned.
  16. While the assets are proving as worthless as John Jones had planned, Jason Smartguy receives payments to the pension fund exactly as outlined in the Prospectus and the Operating Agreement for the New Company. Unknown to Jason, the assets are increasingly proving worthless, as a whole and the income is declining. So Jason buys more shares in the new Company, thus providing Jason with a larger “reserve” fund and more “assets” to bet against and more “shares’ to bet against.
  17. John Jones sets out to “acquire” assets that will fail, so his bets will pay off. He buys assets whose value is low (and getting worse) and he creates fictitious transactions in which it appears as though the new Company has bought the assets at a much higher price than their value. The “sales” to the Company are a sham. The Company has no money because Jason Smartguy’s pension money never was made to the new Company in exchange for the new Company issuing shares of the company to Jason’s pension fund.
  18. The difference between the real value of the assets and the price “sold” to the pool is huge. In some cases it is 2-3 times the actual value of the asset. John Jones treats these sales as “proprietary trading profits” for John Jones,when in fact it is an immediate loss to Jason’s pension fund. The shares of the new Company are worthless because it never received any money nor title to any assets. John Jones as “broker” took all the money and assets.
  19. Meanwhile John Jones continues to pay Jason’s pension fund along with distribution reports showing the assets are in great shape and the income is just fine. In reality the assets are virtually worthless and the income is declining just as John Jones planned. John Jones is taking money hand over fist and calling it his own. His bets on the whole thing crashing are paying off handsomely and he is not reporting to Jason how much he is making by taking Jason’s managed money and calling part of it proprietary profits.
  20. The beauty of John Jones PONZI scheme is in the BIG LIE told not only to Jason Smartguy but also to Henry Homebody, who owns a home in Tucson Arizona. Henry is easier to sell on a stupid scheme than Jason Smartguy because Jason requires proof of independent appraisals (ratings), proof of insurance and various other aspects of the investment. Henry Homebody trusts the “lenders” and considers them to be banks, some with reputations and brands that go back 150 years.
  21. Henry Homebody’s house has been in the family for 6 generations and is fully paid off. He pays only insurance and taxes. Unknown to him, he is a special target for scammers like Merendon Mining, whose operators are now in jail. Merendon got homeowners with unencumbered houses to “invest” in a mirage (gold shares) thus putting the fantastic equity in their homes to work. Henry is flown to Canada, wined and dined, and has a very good time, just before he agrees to take out a loan using his family home as collateral, which will provide an income to him of $16,000 over month (which is about ten times his current income).
  22. Henry is approved for a loan equal to twice the value of the property and in which the mortgage broker (now on the run from the law) used projected income from the speculative investment in Merendon mining. This act by the mortgage broker was illegal but worth the risk because the broker was part of the Merendon Mining scam. (look up Merendon Mining and First Magnus Funding).
  23. Henry makes Payments on the mortgage principal, interest, taxes and insurance (all higher because of the false appraisal that was used for the property). He is able to do this because some of the money from the “loan” was given to him and he was able to make payments until the magnificent returns started to come in from his Merendon Mining shares. But those shares were worded in such a way that they were not exactly the ownership of gold that Henry thought he was getting. In fact, it was another pool with options on gold. And of course the money never materialized and neither did the gold. (Note 1996-2014: more than 50% of all loans were “refi’s” in which the home was fully paid or nearly so).
  24. Henry’s lender turned out to be a party pretending to lend him money, using MERS as a nominee for trading purposes, and naming the originator as lender when in fact they were also just a nominee.
  25. Henry’s mortgage and note recite terms that are impossible to meet unless Merendon Mining pays off.
  26. Henry believes at closing that First Magnus was the lender and that some entity called MERS is hanging in the background. Nobody explains anything to him about the lender or MERS. And of course he was told not to get an attorney because nothing can be changed anyway.
  27. Henry did not know that John Jones had spread out Jason’s money into several entities and then used Jason’s money to fund the origination of Henry’s loan.
  28. Jason does not know that the note and mortgage were never executed in the name of the pension fund or the new Company that was supposed to own the loan as an asset.
  29. Eventually the truth starts coming out, the market crashes and prices of homes return to actual value. Merendon Mining is of course a bankrupt entity as is First Magnus, whose operator appears to be on the run.
  30. Henry can’t make the payments after the extra money they gave him runs out. He has $2 million in loans and the “guaranteed” investment in Merendon Mining has left him penniless.
  31. John Jones fabricates and forges dozens of documents to piece together a narrative wherein an “independent” company would claim ownership of Henry’s loan despite the complete absence of any real transactions between any of the companies because the loan was fully funded using Jason Smartguy’s pension money.
  32. Henry knows nothing about the scam John Jones pulled on Jason Smartguy and certainly doesn’t know that the new Company was involved in his loan (because it wasn’t). Henry doesn’t understand that First Magnus and MERS never loaned him any money and that he never owed them money. And Henry knows nothing about John Jones, whose name appears on nothing.
  33. John Jones, the PONZI operator goes about the business of finishing the deal and making sure that the multiple people who bought into Henry’s loan (without knowing of the other sales and bets placed by John Jones) don’t start asking for refunds.
  34. John Jones MUST get a foreclosure or there will be auditing and reporting requirements that most everyone will overlook as long as this looks like just another loan gone bad. His PONZI scheme will be revealed if the true facts become known so he makes sure that nobody sees the actual money trail except him. He might go to jail if the truth is discovered.
  35. The lawyers for John Jones have told him that even fabricated, forged, non-authentic, falsely signed, and falsely notarized documents carry a presumption of validity. Thus the lawyers and Jones concocted a PONZI scheme that would most likely succeed because even the borrower, Henry, still thinks he owes money to First Magnus or its “successors”, whose identity he doesn’t really care about because he knows he took the loan. He doesn’t know that First Magnus and several other entities were involved in collecting fees and making profits the moment he signed the papers, and possibly before.
  36. Meanwhile Jason Smartguy, manager of the pension fund is starting to get disturbing reports about the assets that were purchased. Jason still doesn’t know that the money he gave John Jones never went into the New Company, that the Company never engaged in any transactions, and that John Jones was claiming “losses” that were really Jason’s losses (the pension fund).
  37. John Jones was collecting money from multiple sources without any of them knowing about each other and that he had no losses, he had only profits, and even got the government to lend him more money so he wouldn’t go out of business which might ruin the economy.
  38. Most of all John Jones never made a loan to Henry Homeowner; but that didn’t stop him from saying he did make the loan, and that the paperwork between John Jones and Jason Smartguy’s pension fund was irrelevant — the borrower got a loan and stopped paying. Thus judicial or non judicial process was available to sell the home that had been in Henry’s family for 6 generations.
  39. But the weakness in John Smith’s PONZI scheme is that his entire strategy is based upon presumptions of validity of his false documentation. If courts start applying normal rules and require Jones to disclose the money trail, he is cooked. There can be no foreclosure if a non-creditor initiates it by simply declaring that they are the creditor and that they have rights to enforce the debt — when the only proof of that is that Jason Smartguy, manager of the pension fund, has not yet put the pieces together and demanded ownership of the loan, settled the cases with modifications and went after John Jones for the balance of the money that was skimmed off the deal.
  40. And since Henry’s house is in Tucson, Az, he is subject to non-judicial foreclosure and he is in big trouble. He has no reason to believe the “servicer” is unauthorized, that the debt that is subject to correspondence and monthly statements does not exist, nor that the mortgage or deed of trust was void for lack of consideration — none of the “lenders” at closing ever loaned him a dime. The money came from Jason but Henry didn’t, and possibly still doesn’t know it.
  41. John Jones files a document called “Substitution of Trustee.” In this false document Jones declares that one of his many entities is the “new beneficiary” (mortgagee). Jones holds his breath. If Henry objects to the substitution of trustee he might have to reveal that the new trustee is not independent, it is a company controlled by John Jones.
  42. John Jones has made himself the new trustee. If the substitution of trustee is nullified in a court proceeding, NOTHING can be done by John Jones or his controlled companies.
  43. If the old trustee realizes that they have received no information on the validity of the claim and might still be the trustee, they might file an “interpleader” action in which they say they have received competing claims, demand attorney fees and costs along with their true statement that as the trustee named on the deed of trust, they have no stake in the outcome.
  44. If that happens Jones is cooked, broiled and boiled. He would be required to allege and prove that the “new beneficiary” is in fact the creditor in the transaction by succession, purchase or otherwise. he can’t because it was Jason who gave the money, it was Jason who was supposed to get evidence of ownership of the loan, and it is Jason who should be deciding between foreclosure (which John Jones MUST have to escape enormous civil and criminal liability).
  45. Jones doesn’t file documents for recording unless and until the case goes into foreclosure. That is because he continuing to trade and make claims of losses on “bad loans.”
  46. In fact, just to be on the safe side, he doesn’t file the fabricated, forged perjurious assignment of the loan at all if nobody makes him. He only files the assignment when he absolutely must do so, because he knows each filing is false and potentially proof of identity theft from the pension fund and from the homeowner.
  47. So it often happens that despite laws in each state requiring the filing of any transfer of an interest in real property for recording, Jones files the assignment when there is the least probability and least likelihood that the PONZI scheme will be revealed. Jones knows the mortgage is void and should never have been recorded, as a matter of law.
  48. Henry brings suit against Jones seeking justice and relief. But he really doesn’t know enough to get traction in court. Jones filed the assignment after the notice of default, after the notice of sale, and after the notice of substitution of trustee.
  49. The Judge who knows nothing about the presence of Jason, who still does not know this is going on, rules for Jones saying that it is irrelevant when the assignment was recorded because it is still a valid assignment between the parties to the assignment.
  50. Jason knows nothing about how the money from his pension fund was handled.
  51. Jason knows nothing about how each foreclosure seals the doom and affirms the illegal windfall to intermediaries who were always playing with OPM (other people’s money).
  52. The Court doesn’t know that that the assignment was just on paper, that there was no business reason for it to be executed, that there was no purchase of the loan from Jason’s pension fund, to whom the actual loan was payable. Thus the Judge sees this as much ado about nothing.
  53. Starting from the premise that Henry owed the money anyway, that there were no real defenses, and that since nobody else was making a claim it was obvious that Jones was the creditor, the Arizona Supreme Court says that anyone can can foreclose on an undated, backdated fabricated assignment forged and robo-signed with no real transaction; and they can execute a substitution of trustee even if they are complete strangers to the loan transaction and once they file that, they can foreclose on property that was never used as collateral for the real loan.

Because there are hundreds of John Jones characters in this tragedy, the entire marketplace has been decimated. The middle class is permanently stalled because their only net worth has been stolen from them The borrowers would gladly execute a real mortgage for real value with real terms that make sense 95% of the time, but they need to do it with the owner of the debt — the pension fund. The pension fund the borrower need to be closely aligned on the premise that the loans can be modified for better terms that forced sales, the housing market could recover, and money would start flowing back to the middle class who drives 70% of our consumer based economy.

They are all wrong and are opening the door for more PONZI schemes and even better ways to steal money and get away with it. The Arizona Supreme Court in Vasquez as well as all other decisions from the trial bench, appellate courts, regulators and law enforcement are all wrong. The burden of proof in due process is on the party seeking affirmative relief. Anyone who wants the death penalty equivalent in civil litigation (forfeiture of homestead), should be required to prove beyond all reasonable doubt or by clear and convincing evidence that the mortgage was valid and should have been recorded.

If they didn’t make the loan they had no right to record the mortgage or do anything with the note or mortgage except give it back to the borrower for destruction. If they didn’t make disclosure of the real nature of the loan and all the profits that would arise from the borrower signing an application and the loan documents, those profits are due back to the borrower.

Each time the assumption is made that there are no valid defenses for the borrower, we are cheating investors and screwing the homeowners. And as for the windfall proposition we know who gets it — the John Jones PONZI operating banks that started all of this. Exactly how can this lead anyway other than a continued drag on our economy?

Vasquez v saxon Az S Ct CV110091CQ

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

EXAMPLE OF PLEADING TRAPPING PRETENDERS IN THEIR OWN LIES

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  1. Using the exhibits filed by the respondents the confusion created by the respondents, the on-record conduct of the Respondents in arrogant defiance and contempt of the this Court’s discharge injunction, and the breaks in chain of title that are self-evident (and clearly shown below), leads to the inescapable conclusion that the application for relief from stay was faked, the foreclosure sale was faked, the deed issued was improper, and the eviction was wrongful even without the issues of forgery and fabrication.
  1. The entire series of events caused by the respondents is based upon the substitution of an illegal notary clause for an actual affidavit with sworn testimony from an actual person with actual knowledge verifying the authority of the signatories and the authenticity of the documents. California notaries are expressly forbidden to attest to the authority of an individual for use in another state. Respondents nevertheless regularly use this device to create the appearance of authority when none exists. They did so when they used the name of Chevy Chase Bank, a defunct bank to apply for relief from stay, and they did so in connection with several key documents without which they would have no color of title to property or loans for which it is clear that had no actual authority or title.
  1. But for this sleight of hand trick by the Respondents, none of the actions to seek relief from stay in Petitioner’s bankruptcy and to collect on a debt that was not due to them, none of the actions for foreclosures, sale or possession would have or could have occurred. The following chain of title report is taken from the Respondents’ own exhibits with reference thereto.

4. Careful scrutiny of the chain disclosed below reveals the unlawful intermediation of parties that were at best conduits but who masqueraded as real parties in interest for the express purpose and intent of stealing from the Petitioner and the undisclosed creditor-investor, who probably still does not know what transpired in these actions. The result was a substantial loss to both the Petitioner and the other creditors of the Petitioner who could have otherwise been paid.

  1. When Chevy Chase applied for relief from stay, it was at best a bookkeeper.  It provided no proof of its own authority as to the decision to foreclose or even to establish the status of the debt. It was presumably receiving instructions from the “creditor.” The “creditor” from whom it was receiving such instructions may be presumed from the actions of the respondents to have been the Respondents themselves, who inserted themselves into the process without any right, justification, excuse or authority. Hence the application for relief from stay was fraudulently filed and procured.
  1. DEED OF TRUST: (EXHIBIT B)

6.1.                  GRANTOR/TRUSTOR: XXXXXXXXXXXXXXXXXXX

6.2.                  GRANTEE: NORTH AMERICAN TITLE COMPANY

6.3.                  BENEFICIARY: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., “NOMINEE” FOR FIRST MAGNUS FINANCIAL CORPORATION

6.4.                  LENDER: FIRST MAGNUS FINANCIAL CORPORATION

  1. TRANSFER OF SERVICING RIGHTS 8/29/06 (EXHIBIT C)

7.1.                  ASSIGNOR: FIRST MAGNUS FINANCIAL CORPORATION

7.2.                  CHEVY CHASE BANK, F.S.B.

  1. NOTICE OF SUBSTITUTION OF TRUSTEE:  (EXHIBIT C -10)

8.1.                  ASSIGNOR: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., “NOMINEE” FOR FIRST MAGNUS FINANCIAL CORPORATION.

8.1.1. Signed (allegedly) by Pamela Campbell as “Assistant Secretary” of MERS while she was employed by Cal-Western Reconveyance who is not and was not a member of MERS.

8.1.2. Campbell’s name has been widely cited as a known robo-signed signature affixed by numerous different people, as can be seen by the different signatures on sets of documents discovered in Maricopa County, corroborated similar reports from California and other states.

8.1.3. Petitioner has learned that whoever signed Pamela Campbell’s name must have used the user ID and password of someone other than Pamela Campbell — Probably someone from US Bank, who was by pretense asserting itself as the creditor.

8.1.4. Based upon Published information in cases, media and the MERS website, these facts would strongly indicate that the substitution of trustee document was neither prepared nor executed by anyone employed by Cal-Western and was probably prepared and executed by one of the many servicer providers that were in the business of fabrication and execution of false documents.

8.2.                  FIRST MAGNUS WAS LIQUIDATED PREVIOUS TO THE ALLEGED SUBSTITUTION OF TRUSTEE IN A TUCSON BANKRUPTCY CASE

8.3.                  FIRST MAGNUS DID NOT CLAIM OWNERSHIP OF PETITIONER’S LOAN IN ITS PREVIOUSLY FILED BANKRUPTCY

8.3.1.     THUS EITHER FIRST MAGNUS WAS MERELY A NOMINEE FOR AN UNDISCLOSED LENDER AT ORIGINATION OF THE LOAN OR FIRST MAGNUS ASSIGNED THE LOAN TO A THIRD PARTY BEFORE THE FIRST MAGNUS BANKRUPTCY

8.3.1.1.         If First Magnus was a nominee, then it follows that there were two nominees on the Deed of Trust — First Magnus and MERS. Since no other institution was named, that leaves two nominees acting for an undisclosed principal. UNDER ARIZONA LAW NO LIEN COULD BE PERFECTED AGAINST THE LAND WITHOUT DISCLOSURE OF THE CREDITOR.

8.3.1.2.         If First Magnus assigned the loan to a third party before the First Magnus Bankruptcy, the documents submitted by Chevy Chase and the other “successors” are fabrications and forgeries by definition.

8.3.1.3.         EITHER WAY, APPLICATION FOR RELIEF FROM STAY, THE SUBSTITUTION OF TRUSTEE, THE NOTICE OF SALE, THE SALE, THE JUDGMENTS, AND THE EVICTION WERE ALL WITHOUT ANY COLOR OF AUTHORITY.

8.3.1.4.         EITHER WAY, THE ACTS UNDERTAKEN TO OBTAIN THOSE JUDGMENTS WERE CONTRARY TO THE DISCHARGE INJUNCTION ISSUED IN PETITIONER’S CASE.

8.3.1.5.         EITHER WAY THE DEMAND FOR RELIEF FROM STAY BY CHEVY CHASE IN PETITIONER’S BANKRUPTCY WAS WITHOUT COLOR OF AUTHORITY TO ACT ON BEHALF OF A CREDITOR THAT WAS NOT DISCLOSED DESPITE PETITIONER’S REPEATED ATTEMPTS TO REVEAL THE CREDITOR (ALSO CONTAINED IN THE PUTATIVE “SUCCESSORS” EXHIBITS)

8.3.1.5.1.              Petitioner has determined that the pooling and servicing agreement for the referenced pool contains language that requires the servicer to continue payments to the undisclosed creditor even if the homeowner fails to make payments. Said document also contains numerous references to insurance and credit enhancements that require payments and credits to the undisclosed creditor that were never revealed despite Petitioner’s numerous attempts to obtain said information. See Respondents Exhibits.

8.3.1.5.2.              Even if Chevy Chase was the authorized servicer at the time it applied for relief from stay, it failed to identify, contrary to OCC requirements, the status of the debt (and of course the identity of the creditor), taking into account all payments made. If the servicer complied with the pooling and servicing agreement then the creditor was receiving payments and reports that the loan was fully performing while at the same time other parties entered the picture out of the chain of title claiming a default. Hence the representation that Petitioner was in default was made either without knowledge or with reckless disregard for the truth.

8.3.1.5.3.              NO CREDITOR ON RECORD: The record is devoid of any representation from the true creditor that it is the creditor and the current status of the obligation, the amount due and what payments have been received from the servicer or other parties.

8.4.                  ASSIGNEE OF SUBSTITUTION OF TRUSTEE: CAL-WESTERN RECONVEYANCE CORPORATION (alleged by Petitioner robo-signed, forged and fabricated by Cal-Western using signature of Pamela E Campbell as “campbell,” reciting she is Assistant secretary of MERS, using notary clause in violation of California law attesting to Campbell’s authority). In short, Cal-Western appointed itself using an outsource provider to claim deniability as to the source of the document.

8.5.                  ABSENT FROM SUBSTITUTION OF TRUSTEE: AUTHORITY OF PAMELA CAMPBELL, WHO WAS EMPLOYEE OF CAL-WESTERN, NOT MERS. No document has ever been produced showing a corporate resolution from First Magnus, MERS, or even Cal-Western to indicate that Campbell had any authority whatsoever. Instead the “successors” used a faked notary clause that violated California law to attest to Campbell’s authority. These “successors” thought it important to create some attestation of Campbell’s authority so they cannot now take the position that it was unnecessary.  In order to satisfy the requirements of title examination, the authority of Campbell would need to be established as these same “successors” have done in other cases where they filed a false Power of Attorney or Limited Power of Attorney.

  1. NOTICE OF TRUSTEE SALE: (EXHIBIT E)

9.1.                  TRUSTOR: XXXXXXXXXXXXXX

9.2.                  CURRENT TRUSTEE (WITHOUT AUTHORITY): CAL-WESTERN

9.3.                  CURRENT BENEFICIARY: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. (NOT AS NOMINEE), C/O CHEVY CHASE BANK . This is another indication that if MERS contact information for this loan was in care of Chevy Chase Bank FSB, then the document allegedly signed on behalf of MERS would not have been executed at the offices of Cal-Western, where Pamela Campbell worked as Assistant Vice President.

9.4.                CLEAR BREAK IN TITLE: NO MENTION OF FIRST MAGNUS FINANCIAL CORPORATION, “LENDER” IDENTIFIED IN DOT AS SECURED PARTY. Hence, the Notice of Sale was not on behalf of First Magnus, AMBAC, who shows on its website that it administers the pool identified by Respondent US Bank as supposedly owning the loan, nor even US Bank as successor to Assignee of First Magnus. Thus the Notice of Sale clearly states it is for MERS as the creditor, which is universally accepted as factually untrue, and contrary to the application to this Court for relief from stay obtained by Chevy Chase. Note that US BANK remains out of the picture — it is not mentioned on any document, recorded or otherwise.

9.5.                  EXECUTED BY CAL-WESTERN, “A LICENSED ESCROW AGENT”

  1. TRUSTEE’S DEED UPON SALE: (EXHIBIT I)

10.1.               CURRENT TRUSTEE: CAL-WESTERN (WITHOUT AUTHORITY

10.2.               GRANTEE: US BANK NATIONAL ASSOCIATION, AS TRUSTEE RELATING TO CHEVY CHASE FUNDING LLC MORTGAGE BACKED SECURITIES SERIES 2006-4

10.2.1.  FIRST TIME US BANK APPEARS — OUT OF CHAIN OF TITLE

10.2.2.  US BANK, TRUSTEE WITHOUT ANY REFERENCE TO ANY TRUST

10.2.2.1.      PETITIONER HAS DETERMINED THAT NO TRUST EXISTS

10.2.2.2.      PETITIONER HAS DETERMINED THAT US BANK IS NOT A TRUSTEE FOR ANY TRUST POSSESSING A CLAIM OR INTEREST IN PETITIONER’S LOAN

10.2.2.3.      PETITIONER HAS DETERMINED THAT AMBAC ADMINISTERS THE POOL ALLEGED TO HAVE RECEIVED THE OWNERSHIP OF THE LOAN, BUT THE DOCUMENTS DO NOT MENTION THE POOL NOR AMBAC.

10.2.3.  FIRST TIME CHEVY CHASE FUNDING LLC APPEARS, OUTSIDE CHAIN OF TITLE

10.2.4.  FIRST TIME MORTGAGE BACKED SECURITIES SERIES 2006-4 APPEARS OUT OF CHAIN

10.2.5.  AMBAC, ADMINISTERS MORTGAGE BACKED SECURITIES SERIES 2006-4 NEVER MADE A PARTY. AMBAC’s role is not yet known to Petitioner except that it claims ownership or rights to the same pool claimed by US Bank, “as Trustee, relating to” that pool. The presence of AMBAC and its known role in insurance and credit enhancement products for mortgage backed bonds indicates that it may have paid off the balance due to the investor-creditors who were the source of funds on Petitioner’s loan.

10.2.6.  NO CONSIDERATION FOR ISSUANCE OF TRUSTEE DEED: NO TENDER OF CASH OR DEBT OBLIGATION BY NOTE, AFFIDAVIT OR ANY OTHER DOCUMENTATION. NO CONSIDERATION FOR SALE. Thus the deed was issued in derogation of the rights of the true creditor, who remains undisclosed, as well as the rights of any other party who might have rights to the property or could have bid on the property. The result is that US BANK received title to property on which it had never made a loan, never purchased the obligation, and never had any authority to represent the true creditor, whether disclosed or not.

10.2.7.  SIGNED (PURPORTEDLY) BY RHONDA RORIE, WHO WAS UNAUTHORIZED EMPLOYEE NOTARIZING ROBO-SGINED DOCUMENTS FOR CAL-WESTERN, AGAIN alleged by Petitioner robo-signed, forged and fabricated by Cal-Western using signature of RHONDA RORIE as reciting she is A.V.P. of CALWESTERN, using notary clause in violation of California law attesting to RORIE’S authority).

  1. VERIFIED COMPLAINT: (EXHIBIT J) FOR EVICTION

11.1.               PLAINTIFF: US BANK NATIONAL ASSOCIATION, AS TRUSTEE RELATING TO CHEVY CHASE FUNDING LLC MORTGAGE BACKED SECURITIES SERIES 2006-4

11.1.1.  COMPOUNDING BREAK IN CHAIN OF TITLE (SEE ABOVE)

11.2.               DEFENDANT: XXXXXXXXXXXXXXXXXXX

11.3.               RECITES US BANK BECAME OWNER PURSUANT TO TRUSTEE SALE

11.4.               VERIFIED BY SPECIALIZED LOAN SERVICING BY DARREN BRONAUGH “ON BEHALF OF US BANK NATIONAL ASSOCIATION, AS TRUSTEE RELATING TO CHEVY CHASE FUNDING LLC MORTGAGE BACKED SECURITIES SERIES 2006-4.”

11.4.1.  FIRST TIME SPECIALIZED LOAN SERVICING APPEARS

11.4.2.  NO AUTHORITY REFERENCED OR ATTACHED

11.4.3.  DARREN BRONAUGH SIGNATURE HAS BEEN REVEALED AS ROBO-SIGNED ON NUMEROUS OTHER DOCUMENTS AND IS ALLEGED FORGED ON THIS VERIFIED COMPLAINT.

  1. 12.           LETTER FROM QUARLES AND BRADY 2/11/2011: (EXHIBIT (B)

12.1.               Asserts representation of US BANK NATIONAL ASSOCIATION, AS TRUSTEE RELATING TO CHEVY CHASE FUNDING LLC MORTGAGE BACKED SECURITIES SERIES 2006-4

12.2.               Does not assert representation of Specialized Loan Services, Chevy Chase Funding LLC, First Magnus Financial Corporation, Mortgage Electronic registration Systems, or Cal-Western.

12.3.               Demands possession for US BANK NATIONAL ASSOCIATION, AS TRUSTEE RELATING TO CHEVY CHASE FUNDING LLC MORTGAGE BACKED SECURITIES SERIES 2006-4

 

UNPUBLISHED AZ APPELLATE DECISION ON IMPROPER SERVICE VOIDS FORCIBLE DETAINER

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE

SEE FHLM V TIETJEN LACK OF PROPER SERVICE OF PROCESS CV20100212

Before you start thinking that this decision is of little consequence, consider this: First Magnus cases are riddled with service problems just as most of the cases are filled with fabrications, forgeries and misrepresentations. This Court might reconsider its decision to make this case unavailable to be cited as precedent when it starts seeing more of these appeals. I know of one case where the Judge actually threatened to cuff the party and wait for service in court.

But read the case carefully because it is correct as to its reasoning. You can easily waive service of process by asking for anything other than dismissal for lack of jurisdiction. The converse mistake is also being made where once the Judge has ruled, the homeowner fails to assert defenses for fear of it being construed as a waiver of the original objection to service. Once the Judge rules, all defenses should be raised.

While this case is NOT some great victory for homeowners across the state of Arizona nor anywhere else, it is another incremental step of the court system in scrutinizing the actions of the supposed lenders. It also reveals some pique by the appellate judges about the cavalier attitude of trial judges towards homeowners in ignoring the express public policy of the State of Arizona that foreclosures are a bad thing for the state as well as the homeowners. The legislature passed that language, not some wild-eyed blogger. Look it up.

 

Finding WAMU Securitizations

FROM an unidentified researcher:

Okay, So in all of my digging I have unearthed so many things I can’t start to explain it all but thought if I can save others the time and energy I most certainly will.

So here is what I know so far and if others have info please share.

Washington Mutual was the LARGEST!! bank failure in the history of this country. Why? Guess.

The value of the bank as estimated before the FDIC stepped in was 321 Billion give or take. What did it sell for to Chase with the FDIC help?
@ 1.9 Billion of .005 cents ish on the dollar

I wonder what they know that we don’t? Fraud mostly

So in researching your loan if you ended up with them as your servicer chances are you were part of the mess and you thought they were only a bank that you made payments to, right?

Well, you are not alone.

They did business with originator banks(fake pretending lenders that are really brokers) of the like of:

First Magnus Financial(bankruptcy in AZ)
Countrywide(Imploded and is now BofA)
Plaza Home Mortgage-active
First Horizon-active
Alliance Bancorp-unsure
Residential Funding-unsure
Mortgage IT
Steward Financial
UBS

This comes from my knowledge of the wonderful Neg Am Option ARM and may have many more players. Either way alot of the above lenders used a warehouse line of credit to fund the loan and then sell it to WAMU for securitization.

1) I am attaching a link to the WAMU Seller’s guide which explains the underwriting and the way the files are to be delivered etc.
Pay attention to the BLANK endorsement requirement on assignments(Why?)

They also make a point of keeping WAMU’s name out as the purchaser of the loans which I would say is a concealment issue. Add that to the MERS situation and you have more non-transparency

https://www.wamumsc.com/sellerguide/reports/pdf/msc_seller_all.pdf

2) Second is the Servicer Guide which explains the servicing procedures etc:

https://www.wamumsc.com/servicerguide/reports/msc_servicer_all.pdf

3) Third is a master Prospectus filed with the SEC which explains all of the advanced calculus that goes into confusing all but three humans on earth.

http://www.secinfo.com/dScj2.u2p2.htm#c38e

4) Then each bundle of securities gets an individual prospectus to go with it:

http://www.secinfo.com/dsvRa.v32u.htm

5) When they submit the bundle they list all of the loans in the trust at the time of creation. Here is what that looks like. This one has originating lenders names and the loans by number:

http://www.secinfo.com/d16VAy.u5c.htm

and another without lender names:

http://www.secinfo.com/d16VAy.vyb.htm

6) Here is a Pooling and Servicing Agreement that goes through the process of creating the securities and the pool of mortgage loans etc.:

http://www.secinfo.com/d16VAy.u83.d.htm

Here are various lawsuits that are filed against WAMU from investors that I have found so far. The last one is a link to the WAMU bankruptcy case and all of the documents that go with it. Chase and WAMU are battling over billions of assets. Interesting reading and gives details of underwriting and appraisal fraud:

http://securities.stanford.edu/1043/WAMUQ00_01/20091030_f01c_090155…

http://securities.stanford.edu/1042/WAHUQ_01/20091123_r01c_0900037.pdf

WAMU BK filing and case with Chase

http://www.kccllc.net/wamu

You may or may not be able to find if your loan is included in the above. You can narrow the search down to the year in which you closed your loan and search the above www.secinfo.com site and find the classes for your timeframe. Once you find the trust(WMALT 200? such and such) you can search the attachments for a FWP file and search through by zip code and see if you are included.

If you log into the secinfo site it may require you to register for free to continue access.

I hope this helps you find more info on your loan WAMU/CHASE loan and if you need help please let me know.

I will keep adding as I go so if anyone else has info please add it to the pile. I will try to keep it semi organized so that it is easy to find.

Happy reading!

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