Wells Fargo Article: “The thing most borrowers fail to realize about conduit loans is that once the loan has been securitized they are not working with a “lender” anymore.”
[Editor’s Note: And they never were dealing with a “lender.” Wells Fargo glosses over the fact that without the money and the loans going into the trust, the loan was not securitized, they destroyed the security, the Trust is nothing in the eyes of the law, and they made it virtually impossible for investors to know how to collect their money when the servicer chooses to stop making payments to the investors.
But what is clear is that in virtually all cases Wells Fargo admits that as Master Servicer they are causing payments to be made at least 3-4 months after the borrower stops paying the servicer.]
see Wells Fargo Document – No Lender in Remics
For more information please call 954-495-9867 or 520-405-1688
This is not a legal opinion. Get a lawyer.
Bill Paatalo just sent me an article he apparently wrote almost a year ago, in which he successfully exposed the real facts and even attached a marketing piece by Wells Fargo in which Wells Fargo corroborates everything Paatalo wrote in his article. Needless to say it also corroborates everything I have written on the subject as well. Paatalo addresses the issues relating to the roles played by multiple parties in a way that is succinct and very clear.
Bill has also written a short eBook explaining securitization that comes from a private investigator rather than a lawyer, like myself, who could appear to be advocating for homeowners, which I am. But that doesn’t mean that my facts, analysis and conclusions are wrong. I recommend you purchase his eBook. Bill and Kimberly have graciously agreed to contribute money to LivingLies from the sale of his eBook . They have named the EBook “Pretender Lenders: How Tablefunding and Securitization Go Hand in Hand”. Just click on this link for the new EBook and other good stuff: http://infotofightforeclosure.com/tools-store/ebooks-and-services/?ap_id_102
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