TILA RESCISSION: Illinois Appeals Court Affirms Obligation of All Courts to Follow SCOTUS Decisions

WE HAVE REVAMPED OUR SERVICE OFFERINGS TO MEET THE REQUESTS OF LAWYERS AND HOMEOWNERS. This is not an offer for legal representation.
Our services consist mainly of the following:
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For further information please call 954-495-9867 or 520-405-1688. You also may fill out our Registration form which, upon submission, will automatically be sent to us. That form can be found at https://fs20.formsite.com/ngarfield/form271773666/index.html?1452614114632. By filling out this form you will be allowing us to see your current status. If you call or email us at neilfgarfield@hotmail.com your question or request for service can then be answered more easily.
================================

THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

—————-

Hat tip to Eric Mains

see lakeview_loan_servicing_llc_v._pendleton

In this case the Illinois Court comes to several conclusions about which I have been writing for years:

  1. A reverse mortgage may be rescinded
  2. A TILA rescission may not be ignored by parties claiming a right to collect or enforce the note and mortgage.
  3. No court except the U.S. Supreme Court can overrule a SCOTUS decision
  4. No court may legislate. It is clear to this court that “lower courts” (i.e., any court other than the Supreme Court of the Untied States) are prohibited from changing a SCOTUS decision and prohibited from changing legislation.
  5. The right to rescind extends to anyone who signed the mortgage regardless of whether they signed the promissory note or otherwise agreed to pay the loan. And it might extend further.
  6. The change in Reg Z transferring rule making authority from the Federal Reserve to the Consumer Financial Protection Board creates no gaps, to wit: whatever the rules were under the Federal Reserve tenure are the same under the CFPB tenure, unless changed by the CFPB.

The court found that Congress agreed with TILA’s expanded definition, because it had been in existence since 1968, and Congress had never amended it, even when it recently “moved authority from the *** Board to the Consumer Finance Protection Bureau to oversee TILA.” Id. ¶¶

” Thus, “[b]ased on Regulation Z and the commentary,” the supreme court held that “the right to rescind extends to each consumer whose ownership interest is or will be subject to the security interest or is subject to the risk of loss.” (Internal quotation marks omitted.) Id. ¶ 30

But in interpreting federal law, we are bound by the decisions of our supreme court and the United States Supreme Court, not lower federal courts. See Bowman v. American River Transportation Co., 217 Ill. 2d 75, 91-92 (2005) (decisions of lower federal courts are persuasive, but not binding, when Illinois court is interpreting federal law);

People v. Fountain, 2012 IL App (3d) 090558, ¶ 23 (this court is bound by our supreme court’s interpretation of federal law “unless and until that conclusion is revisited by our supreme court or overruled by the United States Supreme Court”

82 Responses

  1. […] TILA RESCISSION: Illinois Appeals Court … – 12.01.2016  · WE HAVE REVAMPED OUR SERVICE OFFERINGS TO MEET THE REQUESTS OF LAWYERS AND HOMEOWNERS. This is not an offer for legal … […]

  2. http://www.fightingtheforeclosuremachine.com/documents/FTFM_Paper_No._1301H.pdf
    [http://www.fightingtheforeclosuremachine.com]

    FTFM PAPER No. 1301
    By Robert M. Janes
    “RESULTING DOCUMENTS” CAN BE TOOLS OF DECEPTION – GET PAST SUPERFICIAL APPEARANCES OF ASSIGNMENTS, DEEDS, TRUSTEE APPOINTMENTS, ALLONGES, NOTICES OF SALE AND SIMILAR DOCUMENTS

    Court decisions often discuss the validity and meaning of a document that is involved with the ownership and control of a Note or mortgage. The discussion may focus on an assignment, appointment of a successor trustee, deed, allonge, or paper filed in public records.

    The borrower, too often, doesn’t know how to challenge or rebut the alleged validity and importance assigned to those documents by the foreclosure machine. This type of document is frequently used by the foreclosure machine to gain acceptance of a conclusion that the document doesn’t actually prove.

    Sure,this is a bit deceptive, but the machine is OK with any win, even one based on a sleight of hand. There are ways, however, to minimize the likelihood that such a ploy will confuse you or the judge.

  3. Everyone who owns or is buying a house should have this 2008 book!
    23 Legal Defenses to Foreclosure
    by: Troy Doucet, Esq. Columbus, Ohio litigation lawyer
    click on this link at my dropbox to download 440 page book:
    https://dl.dropboxusercontent.com/u/4032131/23%20Legal%20Defenses%20to%20a%20Foreclosure.pdf
    greg

  4. join greg & neva Episode [16] on Talk/Shoe #1-3-9-3-3-5
    TONIGHT – Thursday evening, January 14, 2016 at 6:45 PM Eastern.
    An ad hoc group of homeowners & friends discussing Mortgage Foreclosure Defense and Attack strategies and related experiences
    Call in: at 724.444.7444 (then use Call ID: 1-3-9-3-3-5) then “1#” for guest;

  5. Soon after study a few of the blog posts in your site now, and I really like your way of blogging. I bookmarked it to my bookmark web site list and are going to be checking back soon. Pls have a look at my website also and let me know what you think.

  6. djabelanger, on January 13, 2016 at 6:10 pm said:
    i believe there is a argument to be made on this point. please appease me.
    1/ homeowners were not a where that they were closing on a security transaction. as you know well, that these were, security transaction,
    and that they were not, common mortgage loans/contract. they were treated as security contract and we were the issuer of them.
    2/ so how can courts use common foreclosure laws to foreclose on someone. that was involved in a complex security transaction ?
    3/ so again it go to, rescission. so if the homeowner was not aware he was entering into a security transaction at the closing table, and was not
    told about the other party to this security transaction/closing. and a stranger to the transaction supply the funds to transaction, but homeowner
    was never told about this other party. and that this non-party already was given a security interest of the homeowner property , before the homeowner signing , so there was no meeting of minds with all players, and there was consummation / because the party on
    mortgage and note was not the party that funded the consummation. right.
    4/ there is over 4 different copy’s of my note, how many more note are out there, if court’s are saying a copy is find. a note is a check, banks will not except
    a copy of my check and cash it. will they.
    5/ there has to be consideration from a party , that is stating that they gave the consideration. gmac mortgage corporation, DID NOT GIVE ANY CONSIDERATION AT CLOSING TABLE. IN FACT GMAC MORTGAGE CORPORATION, DID NOT FUND 1 PENNY, AT CLOSING TABLE. but there name is the
    one on mortgage and note as if they supply the funds at closing table.
    6/ BUT LETS LOOK AT A MIN, of the assignments that should be done, if all was real and not a fraud.
    assignment number 1/ gmac mortgage corp to Deutsche bank trust company americas.
    assignment number 2/ Deutsche bank trust company americas to gmac mortgage corp
    assignment number 3/ gmac mortgage corp to Residential Asset Mortgage Products, Inc.( not a member of merscorp. ) so mers would not have any authority what so ever any more from that assignment. from me the homeowner or them.
    assignment number 4/ Residential Asset Mortgage Products, Inc./ wells fargo bank,n.a. as trustee for gmacm mortgage loan trust 2006-j1
    assignment number 5 / wells fargo bank n.a. as trustee for gmacm mortgage loan trust 2006-j1 to wells fargo bank n.a. as trustee for certificate holder of gmacm mortgage pass-through certificates, series 2006-j1
    all most be true sales. consideration most be given . by each. to be holder in do course. and have a right to sell to others, or assign to others.
    now , the only assignment recorded at registry of deed in mass, is a assignment in august 2012, 4 months after gmac/rescap went bk, and it is from mers acting for dead company/ gmac mortgage corp went out of business in 2006. to trust.

    so it go to tila, right how can they say anything was consummated

  7. Common Law Fraud
    Cancellation of Contract

    Generally 5 years. 735 ILCS 5/13-205

    Note…limitations may not apply to counterclaims or set off in a pending matter. 735 ILCS 5/13-207

    Also see limitations on ….
    Conversion
    Consumer Fraud
    Contracts

  8. Wednesday 13 January 2016

    The author of this subject, Eric Mains, had another article posted on this
    site. This man is on a dedicated mission and is worth seeing what he is
    doing.

    https://livinglies.wordpress.com/2015/03/25/eric-mains-acceptable-casualties/

    Did a search on his name and came up with several interesting related
    cases and articles, should anyone want to further their familiarity with
    rescission and defending their property and deal with substance.

  9. November 13, 2014
    Change to H.4.1, removal of table related to TALF LLC (previously numbered as table 5)
    The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the removal of table 5 “Information on Principal Accounts of TALF LLC” and the line “Asset-backed securities held by TALF LLC” from table 2 “Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities.” Both have been removed because the final Term Asset-Backed Securities Loan Facility loan was repaid on October 29, 2014, and the net portfolio holdings of TALF LLC were reduced to zero on November 6, 2014.

    In order to provide information on amounts from the previous year, amounts for the “Term Asset-Backed Securities Loan Facility” and the “Net portfolio holdings of TALF LLC” continue to be shown on table 1 “Factors Affecting Reserve Balances of Depository Institutions,” and amounts for the net portfolio holdings of TALF LLC also continue to be shown on the renumbered table 5 “Consolidated Statement of Condition of All Federal Reserve Banks.”

    September 18, 2014
    Change to H.4.1, Removal of Tables related to Maiden Lane II LLC and III LLC (previously numbered as tables 5 and 6)
    The Board’s H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks,” has been modified to reflect the removal of table 5 “Information on Principal Accounts of Maiden Lane II LLC” and table 6 “Information on Principal Accounts of Maiden Lane III LLC.” The tables have been removed because the portfolio holdings have been reduced to de minimis balances.

    Amounts for “Net portfolio holdings of Maiden Lane II LLC,” and “Net portfolio holdings of Maiden Lane III LLC” continue to be shown on table 1 “Factors Affecting Reserve Balances of Depository Institutions,” and on the renumbered table 6 “Consolidated Statement of Condition of All Federal Reserve Banks” in order to provide information on figures from the previous year.

  10. 7. Information on Principal Accounts of TALF LLC
    Millions of dollars
    Wednesday
    Account name May 30, 2012

    Asset-backed securities holdings (1) 0
    Other investments, net 841
    Net portfolio holdings of TALF LLC 841

    Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0
    Accrued interest payable to the Federal Reserve Bank of New York (2) 0
    Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable (3) 111

    1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to
    be conducted in an orderly market on the measurement date.
    2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York’s statement of condition consistent
    with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
    3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities
    and accrued dividends in table 8 and table 9.

    Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF)
    under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New
    York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to
    assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed
    securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are
    non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans
    are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial
    risk of a decline in the value of the security.

    TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in
    connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed
    securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest.
    Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF
    LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S.
    Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio
    holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S.
    Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the
    U.S. Treasury.

  11. again… let’s have a party!
    post pics
    could be cool…

    HEY EVERYONE… DO YOU KNOW WHAT TOMORROW IS?????

    Happy Birthday to You,
    Happy Birthday to You,
    Happy Birthday Dear Jesinoski…😉
    Happy Birthday to You!

    SUPREME COURT OF THE UNITED STATES
    JESINOSKI ET UX. v.COUNTRYWIDE HOME LOANS, INC., ET AL.
    CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE EIGHTH CIRCUIT No. 13–684
    Decided January 13, 2015

    http://www.supremecourt.gov/opinions/14pdf/13-684_ba7d.pdf

  12. David… When they tried to get me to refinance My mortgage ..
    (As a non borrower on the Note) the amount was the
    “Total Cost of the Loan” disclosed on Final TIL disclosure.

    The Estates Mortgage Note

  13. i want to be deadly crystal clear….

    -EVERYTHING I POST IS MY OWN DARN OPINION!
    -I AM NOT A MODERATOR ON THIS SITE!
    -YOU CAN ALL TELL ME TO GO TO HELL!
    -WHILE I TRULY RESPECT HIM; I DO NOT WORK FOR NEIL NOR REPRESENT HIS INTERESTS!
    MY COMMENTS TO FOCUS ON THE TOPIC NEIL STARTED ARE TOTALLY SELF-SERVING!
    FORGIVE ME OR DAMN ME – UP TO YOU…

    thanks
    greg

  14. David, Private Placement Mortgages or PPMs are structured to have 2 trusts! One may not or no longer exist. But the Land Trust ….
    Go back and read the case Neil posted here and the case Greg posted here today.
    Lots of Goodies ….

  15. thanks David

    this one topic is about the illinois supreme court and appellate court “shoving a hot poker up the poop-shoot” of stubborn illinois trial court judges –

    WITH REGARD TO THE POWER OF TILA RESCISSION…
    WITH REGARD TO THE POWER OF TILA RESCISSION…
    WITH REGARD TO THE POWER OF TILA RESCISSION…

    not the non-exhistent trusts…

    the trust stuff is an off-topic addenda to the topic…very important but not key to the use of rescission as a SHOW STOPPER!

    see that?

    thanks for all your great research!

    greg

  16. Make that a FORECLOSURE OFFENSE MILL!!! Homeowners go on the OFFENSIVE.

  17. IVENT Please!!!!!!!!!!!!!

    drop the outside junk and stay on topic…
    you were doing so darn well earlier today i was almost proud of you…

    nobody needs to hear that stuff because barring a national revolution of bloodshed and mayhem, there is nothing to do…

    PLEASE FOCUS ON ONE MAN/WOMAN – IN ONE COURT – IN ONE CASE – WITH ONE CRIME TO SOLVE…

    the rest our kids and grandkids will have to fix….

    thanks
    greg

  18. greg. I feel it not off topic. you see if a trust is trying to foreclose on you, then we most first find out if that trust is real, as we know there are not. right scot, they are not registered. so this trust is trying to foreclose GMACM MORTGAGE LOAN TRUST 2006-J1, not register with any state sec of state. k ,. now I have docs showing my mortgage in this trust, GMACM Mortgage Pass Through
    Certificates, Series 2006-J1 , and I also have in same docs as the trust number 1/ was selling my mortgage for the fake appraisal price of almost twice the mortgage amount.

    now, this is why I did a rescission, as I have a copy of the wire transfer from bank, that funned the refi, now it was also the bank that was assigned the mortgage and note as of closing date , same day, wet ink, I have it in hand,

  19. for friends outside illinois;

    check with your lawyer regarding the full faith and credit clause of the US constitution and how an illinois supreme court decision might be considered a controlling decision in your case/state – if your state lacks a similar precedential ruling.. citing new Illinois Supreme Court holding on rescission… here is the ruling:
    http://www.illinoiscourts.gov/opinions/SupremeCourt/2015/117950.pdf

  20. Duct Tape!
    Linda…Shut Up!

    I know Neil … Already on my way to Time Out.

  21. The Estate forms a Legal Entity.

  22. imagine this world –

    instead of-

    a FORECLOSURE MILL:
    where a team of lawyers has the foreclosure process so ‘knocked out of the park’ that they can hand a case to a 2nd year hire and the kid can walk in and destroy a homeowner – with the judge’s blessing

    try –

    a FORECLOSURE DEFENSE MILL:
    where a team of lawyers has the foreclosure DEFENSE & ATTACK process so ‘knocked out of the park’ that they can hand a case to a 2nd year hire and the kid can walk in and destroy the banksters, get you your house, and a 7 figure settlement – with the judge’s blessing

    and the lawfirm makes more money that the foreclosure mills!😉

    i can see that world on tomorrows sunrise…

  23. both a separate an legal entity trust. right. nope.

  24. Issuing Entity
    The depositor will establish a trust with resp
    ect to the GMACM Mortgage Pass Through
    Certificates, Series 2006-J1 on the closing date pursu
    ant to the pooling and servicing agreement.

    now the issuing enitity is already a trust. trust numberGMACM MORTGAGE LOAN TRUST 2006-J1
    Issuing Entity 1 and trust number 2 GMACM Mortgage Pass Through
    Certificates, Series 2006-J1

    The
    pooling and servicing agreement is governed by the laws
    of the State of New York. On the closing date,
    the depositor will deposit into the trust a pool of mort
    gage loans that in the aggregate will constitute a
    mortgage pool, secured by one to four family residential properties with terms to maturity of not more
    than 30 years. All of the mortgage loans will
    have been purchased by the depositor from the seller
    pursuant to a mortgage loan purchase agreement, date
    d as of the closing date, between the seller and the
    depositor.
    The pooling and servicing agreement provides that
    the depositor assigns to the trustee for the
    benefit of the certificateholders without recourse all th
    e right, title and interest of the depositor in and to
    the mortgage loans. Furthermore, the pooling and ser
    vicing agreement states that, although it is intended
    that the conveyance by the depositor
    to the trustee of the mortgage loans be construed as a sale, the
    conveyance of the mortgage loans shall also be deemed
    to be a grant by the depositor to the trustee of a
    security interest in the mortgage
    loans and related collateral.

  25. REVERSE PURCHASE
    &
    SALE AGREEMENT
    &
    SALE AGREEMENT

    THE ESTATE USING THE STRIPPED TITLE AS A TRANSFER
    AND SALE AND SALE INTO TRUST BY SUBSTITUTING OUT THE ORORIGINAL AGREEMENTS AND NOTE WITH PURCHASER SELLER
    “INSTALLMENT SALE CONTRACTS”

    Fractional shares of the Estate transferred and conveyed irrevocably into trust. !!!!!!!-

  26. tranch

  27. Prospectus supplement dated February 23, 2006
    (To prospectus dated February 16, 2006)
    $546,153,384
    GMAC MORTGAGE CORPORATION
    Seller, Servicer and Sponsor
    GMACM MORTGAGE LOAN TRUST 2006-J1
    Issuing Entity
    Residential Asset Mortgage Products, Inc.
    Depositor
    GMACM Mortgage Pass-Through Certificates, Series 2006-J1
    The trust will hold a pool of one- to four-family residential first mortgage loans.
    The trust will issue these classes of certificates that are offered under this prospectus supplement:
    • 10 classes of senior certificates, designated as Class A-1 Certificates, Class A-2 Certificates, Class A-3
    Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7
    Certificates, Class PO Certificates, Class IO Certificates and Class R Certificates; and
    • 3 classes of subordinate certificates, designated as Class M-1, Class M-2 and Class M-3 Certificates.
    Credit enhancement for all of these certificates will be provided by subordination.
    Distributions on the certificates will be on the 25th day of each month, or, if the 25th is not a business day,
    on the next business day, beginning March 27, 2006.
    You should consider carefully the risk factors beginning on page S-15 in this prospectus supplement.
    Neither the Securities and Exchange Commission nor any state securities commission has approved or
    disapproved of the offered certificates or determined that this prospectus supplement or the prospectus is
    accurate or complete. Any representation to the contrary is a criminal offense.
    The Attorney General of the State of New York has not passed on or endorsed the merits of this offering.
    Any representation to the contrary is unlawful.
    Citigroup Global Markets, Inc. will purchase the Class A and Class R Certificates from the depositor in amounts
    described in “Method of Distribution” on page S-94 of this prospectus supplement, and will offer these senior
    underwritten certificates to the public at varying prices to be determined based on the market price at the time of
    sale. The proceeds to the depositor from the sale of the senior underwritten certificates will be approximately
    99.08% of the aggregate certificate principal balance of the senior underwritten certificates plus accrued interest,
    before deducting expenses payable by the depositor. There is currently no underwriting arrangement for the Class
    PO and Class IO Certificates.
    Bear, Stearns & Co. Inc. will purchase the Class M Certificates from the depositor in amounts described in
    “Method of Distribution” on page S-94 of this prospectus supplement, and will offer these subordinate
    underwritten certificates to the public at varying prices to be determined based on the market price at the time of
    sale. The proceeds to the depositor from the sale of the subordinate underwritten certificates will be
    approximately 95.93% of the aggregate certificate principal balance of the subordinate underwritten certificates
    plus accrued interest, before deducting expenses payable by the depositor.
    All of the underwritten certificates will be offered in the United States and Europe. Delivery of these
    underwritten certificates, except for the Class R Certificates, will be made through the book-entry facilities of
    The Depository Trust Company, Clearstream Luxembourg and the Euroclear System.

    Citigroup Bear, Stearns & Co. Inc.

  28. also for everyone, that has a psa. you also have a prospectus. and you all should read all of it, from start to finish. why you are saying. because it states in that the depositor must put together all the loans that will be put in each trench / security.

    get it. so if you have 20/30/ or more trenches, there should be a separate list of mortgages for each trench. the trust cant say your mortgage is in all trenches, talk about bifurcations. that would mean your mortgage and note was split up 20,30 or more times. right.

    so mr trustee, please tell us , in what trench my mortgage is in, right.

  29. Plaintiff ,.. KC AS ONE HALF OF THE ESTATE

  30. Greg, I refer to them collectively as the Defendants …
    Who am I to assume their capacity ….? Let b them prove up!
    They all worked as agent for the other at all times relavent.

  31. almost there…

    can we substitute defendant and plaintiff with other pronouns like lender, originator, homeowner or borrower?

  32. The defendants claims are for a transferred asset … The plaintiffs loan sold on or about November 21 2008 for value. Defendant knew at the time of the transfer that the purported mortgages were not enforceable.
    Defendant did not disclose this fact to the grantor and plaintiff.
    Defendant made the transfer with intent to defraud plaintiff.

    I prefer the term..Cancellation of Instrument

  33. vernacular…
    an encumbrance – is notice that another party has a right of claim – probably in addition to you – but not an automatic right of taking – as it does not always mean that you gave up your claim (or portion of it)

    a lien – is a priority right of taking (substitution of claimant priority) from and above other claim-holders

  34. shadow

    please- not case specific answers – rather PRONOUNS – not names
    e.g. homeowner, alleged borrower, alleged lender, alleged creditor, alleged trust, alleged trustee, etc…
    if you help answer my specific list of questions with PRONOUNS – you will be the most amazing help to many…

    i’m sorry if this seems tiresome – but to get these all in one place would be priceless…

    thanks
    greg

  35. When is a Mortgage an Encumbrance and not a Lien?

    “Contract Installment Sale”
    Rent to Own
    Contract for Deed

  36. shadow

    so YOU (all CAPS) DEFENDANT had intent to defraud?

  37. The subject mortgage and or mortgage deed of trust were charged off and written down to zero balances under the passage of TARP & The Economic Stabilization Act passed by Congress in October of 2008.

    After Maiden Lane 123…the Depository Trusts were closed in 2012.

    That is what took me so dog gone long to get a lien release.

  38. everyone in illinois who has been foreclosed upon that issued a rescission; prior to foreclosure, order or sale; and was not responded to by the alleged creditor or party claiming right to foreclose; should be considering hiring a lawyer to do a 2-1401 motion to overturn/declare void the foreclosure – citing this blog topic with comments as fodder for the case… then get ready for an appeal because the trial court judge will not like to let you back in and make his court look derelict or silly…

    http://www.ilga.gov/legislation/ilcs/fulltext.asp?DocName=073500050K2-1401

  39. Dog gone it,…
    FKA. Banc of America Securities LLC

    Not AKA

  40. Greg. Go back and read my comments from this morning.
    The defendants are different in everycase.
    David posted the Maiden Lane agreements with the 5 broker dealers.

    My defendant is…..All Caps of course..

    Bank of America Corporation , Banc of America Mortgage Securities INC, AND Merrill Lynch, Pierce, Fenner & Smith INC. AKA
    Banc of America Securities LLC.

  41. shadow- please define

    Illicit Illegal Reverse Purchase and Sale scheme:
    – please name each (Purchase and Sale) in terms we are familiar with
    – why is it illicit and illegal (cite reasons)

    The Contract is back dated
    – what contract?
    – back dated from when?

    DEFENDANT MADE THE TRANSFER WITH INTENT TO DEFRAUD
    – who is the defendant?
    – what transfer of what?
    – how can you prove the 5 elements of fraud with intent?
    – is it perhaps constructive fraud?

  42. Listen Up!
    Illicit Illegal Reverse Purchase and Sale scheme.

    Hello? The Contract is back dated.
    BACK DATED

    DEFENDANT MADE THE TRANSFER WITH INTENT TO DEFRAUD

  43. shadow
    we did both…

  44. Greg…I don’t recommend filing anything with the recorders office.
    When you rescind…You file it at the courthouse!

  45. Thanks Greg for your kind sentiment.

    I mean everything I say wholeheartedly, the corruption by state government in ILLINOIS is of biblical proportions & I’m no coward.

    I made my legal stand in COOK COUNTY CHANCERY COURT, myself, PRO SE & in defense of virulent fraud upon my TITLES by them, for the past 5 years & I’ve been unlawfully harrassed by them because of it, & it’s still going on.

  46. The two wires in essence provided BofA withal a mortgage receivable and also Countrywide Home Loan INC receivable for the amount held in
    An uninsured domestic and combination of domestic and offshore depositors accounts.

  47. does anyone remember back when i posted links to all our lawful filings on the recorder of deed’s office and court case?

    i showed everyone what to do….

    now for us, it’s just a matter of collecting on the wrongdoing…

  48. May I clarify what I mean by fictitiously VACANT LEGAL ASSIGNMENT.

    The written LEGAL ASSIGNMENT never existed, the FICTITIOUS VACANT one is the FORECLOSURE LIS PENDENS that were filed months following the fictitious filing of suit.

    Furthermore, & in support of my LEGAL ASSERTION, the numerous FRAUDULENT TITLE TRANSFERS by CONSPICUOUS FOREIGN THIRD-PARTY RECIPIENTS of some unknown, unsubstantiated & legally unjustifiable THING, concretize my LEGAL ASSERTION in my previous comment.

    In fact, bring it on, regarding my claims if you can find written legal proof that would warrant your dispute with me.

    Otherwise that’s legal evidence of FRAUDULENT CONCEALMENT of the legal facts by them IMHO.

  49. fightin’ words there IVENT….
    hope you get relief…

  50. The defendant shall be ordered to deliver the origional release of lien and or revonvryance forthwith to the clerk of the court for cancellation and recording.

  51. The problem in ILLINOIS is the ILLINOIS STATES ATTORNEY is waging war upon the innocent.

    That office is wantonly criminal & I can prove it unequivocally.

    In fact, I woud bet the ILLINOIS STATES ATTORNEY fraudulently controls OBAMAS OLD SENATE
    SEAT & that is what caused the entireBLAGO SCANDAL.

    I think OBAMA & his ADMINISTRATION still control his once vacant SENATE SEAT & it was FICTITIOUSLY VACANT like the LEGAL ASSIGNMENT in FRAUDCLOSURE.

    In fact I would testify under oath that relevant LEGAL EVIDENCE exists that OBAMA’S VACANT SENATE SEAT is still being controlled by him through the ILLINOIS STATES ATTORNEYS.

    I have nothing to hide in saying that, but they do.

    Therefore, it is the U.S. STATES ATTORNEY’S LEGAL OBLIGATION to open up formal investigations into my formal statement because my life is in peril because of it, & has been since the MORTGAGE FRAUD originated, unbeknownst to me.

  52. In doing the PPM Securities holders who are the registrations securities issuers were allowed to construct a New York Indenture holding fractional shares of the Estate transferred and conveyed irrevocably into trust.

  53. Maybe somebody can answer this: BEFORE you go to the closing (3 days before) an intended borrower would receive several pages of TILA notices usually via mail. Did anyone else receive those documents before closing?

  54. The defendants created two wires from one loan as well as the estate using the stripped title as a transfer and sale into trust.
    And by substituting out the original agreements and note with puncher seller … “Installment Sale Contract”.

    Defendant sold KC a conventional mortgage sold as an enforceable contract and agreement…..blah blah blah ..

    The Note became lost to annuitants investment scheme having accelerated to a call provision expected to surface on a Due on Date as early as the 5th year of the mortgages life of the loan.

    The CWHL INC wire amount was moved off balance sheet,
    meaning it was lifted off title to the Estate.

  55. HEY EVERYONE… DO YOU KNOW WHAT TOMORROW IS?????

    Happy Birthday to You,
    Happy Birthday to You,
    Happy Birthday Dear Jesinoski…😉
    Happy Birthday to You!

    SUPREME COURT OF THE UNITED STATES
    JESINOSKI ET UX. v.COUNTRYWIDE HOME LOANS, INC., ET AL.
    CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE EIGHTH CIRCUIT No. 13–684
    Decided January 13, 2015

    http://www.supremecourt.gov/opinions/14pdf/13-684_ba7d.pdf

  56. Now, we need some more cases in other states that recognize Jesinosky and the Supreme Court’s ruling about rescission.
    http://www.supremecourt.gov/opinions/14pdf/13-684_ba7d.pdf.

  57. david
    i love your stuff but as i’ve asked you before…
    PLEASE…

    1) please just post links and your cliff notes and not whole giant quotes… they are too hard to read because the don’t format properly and they take up huge column space…

    2) your recent comments are nice but way off THIS main topic

    3) we folks from illinois are really excited to finally have some meat and potatoes about our jurisdiction and want to keep nailing the original topic…

    would you please post trust/FRB etc stuff on a previous topic?

    thanks your pal
    greg

  58. go and see if your trust was purchased from the feds, if so all paid in full.

    federal Reserve Bank of New York
    Maiden Lane LLC Holdings 10-31-2011 (with CUSIPs)
    https://www.newyorkfed.org/medialibrary/media/markets/ML_103111.xls

  59. http://www.federalreserve.gov/releases/h41/20111103/

    above is a week by week for what I sent you.

    Note on consolidation:

    The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was
    extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector
    collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to
    Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc.
    On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in
    connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.

    The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial
    activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual
    losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the
    preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs
    appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of
    the LLCs, are included in other liabilities in this table (and table 1 and table 8).

    © 2016 Microsoft Terms Privacy & cookies Developers English (United States)

  60. The New York Fed established the Investment Support Office, a staff of asset specialists and senior managers, to oversee and coordinate all matters related to the ML LLC, ML II LLC and ML III LLC assets. In consultation with New York Fed senior management and the Board of Governors of the Federal Reserve System, the Investment Support Office works with the investment manager, other service providers, auditors, internal financial risk managers, accountants and lawyers to ensure that the portfolios of the LLCs are managed appropriately and to maximize the likelihood that the senior loans from the New York Fed are repaid. As part of this work, the Investment Support Office carries out a range of responsibilities, including:
    ensuring that the New York Fed loans are repaid according to the investment objectives as efficiently as possible
    ensuring, where possible, that the public’s interests are represented in the management of the portfolio assets
    mitigating each portfolio’s financial and operational risks
    providing guidance to the investment manager
    managing day-to-day relationships with service providers
    conducting vendor oversight reviews
    coordinating portfolio reporting
    News
    * As part of the close-out procedures for Maiden Lane II LLC, on August 22, 2012, the New York Fed sold eight residual securities that had been factored to zero and consequently dropped from the portfolio holdings report published by the New York Fed. There was no active notional balance associated with these positions as the securities were fully written down prior to the last ML II sale on February 28, 2012; thus, the subsequent sale of these zero-factor securities had no material impact on the net gain reported for the ML II portfolio.

  61. what am showing you, is that as of 2011 the federal reserve of ny own the trust , and that everything in the trust are and was put to 0- so again more fraud
    on who says who owns what . it cant be wells fargo,n.a. as trustee for gmacm mortgage trust 2006-j1. impossible. and the assignment on my record. would be fraud assignment. as it was done in august of 2012.

    Press Release
    New York Fed Announces Full Repayment of its Loans to Maiden Lane LLC and Maiden Lane III LLC
    June 14, 2012

    NEW YORK – The Federal Reserve Bank of New York today announced that its loans to Maiden Lane LLC (ML LLC) and Maiden Lane III LLC (ML III LLC) have been fully repaid with interest. The original amounts of these loans were $28.82 billion and $24.3 billion respectively. Maiden Lane II LLC repaid all of its obligations earlier this year.

    William C. Dudley, president of the New York Fed, said, “This is a major milestone for the Bank and for the public. The successful repayment of the New York Fed’s loans to ML LLC and ML III LLC marks the retirement of the last remaining debts owed to the Bank that stemmed from the crisis-era interventions with Bear Stearns and AIG. The Maiden Lane entities were established to protect the U.S. economy at a time of great economic stress, and I am pleased we were able to accomplish that policy objective and be fully repaid.”

    The New York Fed, through BlackRock Solutions, will continue to sell the remaining assets from the ML LLC and ML III LLC portfolios as market conditions warrant and if the sales represent good value for the public. There is no fixed timeframe for these sales. In accordance with the LLCs’ agreements, proceeds from future sales in ML LLC will be used to retire the subordinated loan extended by JPMorgan Chase & Co., after which the New York Fed will receive all residual profits, and proceeds from future sales in ML III LLC will be used to repay the equity contribution extended by AIG, after which the New York Fed will receive two-thirds of residual profits.

    The New York Fed will continue to provide information regarding any subsequent sales as part of its regular disclosures, including lists of any holdings sold by ML LLC and ML III LLC within the previous month and quarterly updates on total proceeds from sales. The repayments will be reflected in the June 21, 2012 publication of the H.4.1. For more information, visit Maiden Lane Transactions.

  62. Do you have a phone number that has someone actually answer? how much do you charge for consult?

  63. Off Subject … Oil just stopped to $30.22 a barrel .
    Things are going to get rough!

  64. i know you folks will want to read this part of the ILSC opinion…

    Dawson v. Thomas (In re Dawson), 437 B.R. 15 (Bankr. D.D.C. 2010), is instructive. In Dawson, the plaintiff filed suit to rescind a loan transaction on September 23, 2004. Id. at 16. Thereafter, on July 13, 2006, Dawson sold the property securing the loan. Id. at 17. Thomas maintained the sale of the property terminated Dawson’s right to rescind. Id. The court disagreed, concluding that, because Dawson timely exercised her right to rescind, the subsequent sale did not extinguish that right. Id. at 18. As the Dawson court explained, if the right to rescind terminated because of a sale subsequent to exercise of the right to rescind, the borrower would be deprived of its rights, under paragraph (b) of section 1635, to recover
    damages from the lender for a breach of the lender’s obligations under that paragraph and the lender would be rewarded “for dragging its heels.” Id. at 20.

    ¶ 40 We conclude, as the Dawson court did, that when the lender fails to comply with its obligations under paragraph (b), and the borrower timely sues to enforce his rescission rights, “those rights are not subject to loss at a subsequent date by reason of the passage of three years or, it logically follows, by reason of a sale of the property.” Id. at 21. If a sale of the property subsequent to the exercise of the right to rescind served to extinguish the right, a consumer would lose the right to damages based on the creditor’s failure to rescind when it was legally required to do so.

    but i also think, as Neil has pointed out – the borrower need not sue to still retain certain rights to satisfaction…

  65. Very Good Greg!
    Reg Z has Teeth!
    Use Them!

  66. Greg, Pay the taxes in person! Get a DATED receipt as Proof !
    If the 1st installment was made when you arrive to m pay the entire bill they can not and will not take a duplicate payment on the 1st installment . So you pay the 2nd installment. The date on the reviept proves the 1st installment was not late!
    They just Love to make it LOOK LIKE you were late.

  67. BTW the really important part of this case is WHY the Appellate court reversed the trial court…

    “…the trial court understandably relied on a recently-issued decision of the appellate court in Financial Freedom Acquisition, LLC v. Standard Bank & Trust Co., 2014 IL App (1st) 120982. But during the pendency of this appeal, our supreme court reversed the judgment of the appellate court in that case and squarely rejected its reasoning. See Financial Freedom Acquistion, LLC v. Standard Bank & Trust Co., 2015 IL 117950, ¶¶ 23, 30.”

    it is a new Illinois Supreme Court holding on the matter which is the foundation…here is the ruling:
    http://www.illinoiscourts.gov/opinions/SupremeCourt/2015/117950.pdf

  68. i guess if you want to make a point about someone paying your property taxes before deadline and beat you to it AND calling it a gift – one should send notice to the payer thanking them for the gift, stating that if in error and it is not a gift, that you do not authorize them to pay on your behalf and that they must accept your direct reimbursement for that amount, and if not, it will be claimed as a gift – and include the IRS tax forms they will need to file for “gift tax”

    – everything certified mail with receipt
    – record everything – with witness
    – send copies to the county office that collects payments

  69. Tax collector does Not want to hear. ….
    Typo

  70. i would also love to see folks NOT in foreclosure start doing:

    – very specific QWRs followed by
    – demand letters for full disclosure followed by
    – notices of default by the contracting parties followed by
    – notice of rescission followed by
    – wait 21 days then – notice of failure to perform under TILA and notice of “cancellation of the loan and automatic voiding of the mortgage”
    – all via certified mail by neutral notary acceptor (to prove up responses or failures of responses by a state officer)
    – recorded all on the public at the county recorder (use your lawyer to record to make sure they don’t balk)
    – then send notice you are withholding any further payments but rather pay them into a private escrow account (good faith)
    – wait for notice of default and foreclosure action
    – THEN SUE THE CRAP OUT OF THEM!

    THIS IS NOT LEGAL ADVICE – JUST A SCENARIO ONE MIGHT IMAGINE…

    and don’t forget to have your insurance and taxes moved out of escrow and into your own name first!

    call me a dreamer.. lol
    greg

  71. Correct…they will return your payment. But wanna be thieves only pay the 1st half and they will accept the 2nd half of the payment.
    If you go to pay the bill before its due. ..and someone else has paid it on your behalf without your consent….ITS a gift!
    In Illinois … Research Tax Sales.

    You Must Pay the Taxes!!!! No Excuses!!!
    Even under Reverse Purchase Transactions.

    The tax man does want to hear…but so and so owes me money….
    I will pay you when they pay me. NOPE!
    And he won’t!!

    Get a 2nd Job! Sell the cow…But Pay those Taxes!

  72. shadow..
    for those who didn’t get your memo till late on the importance of direct-pay of property taxes instead of escrow by the servicer – and did not “beat the servicer to the mailbox” – all should know the county will not take your payment and will return it… (ask Louise)

    also, there are those in the group who just don’t have the extra $7,500 (yes – a lot but a Cook County rate for a single home) laying around to send the county since there cash is being spent fighting in court…

    it may come down to waiting to see if you can win a cash judgment against servicer/bank/trust for wrongful foreclosure, unlawful detainer or simply statutory TILA/Reg Z fines, to get it out of their hands and back into yours…

    your thoughts?
    gg

  73. Now, the question everyone snaps on me for .,.,
    Did you maintain, occupy,insure and pay those taxes?

  74. The contract is backdated under an illicit and illegal reverse purchase and sale scheme.

  75. Reblogged this on AXJ USA NEWS.

  76. I didn’t give anyone Permission to Gamble with my Assets!

  77. Or .. You can Enforce the Contract!

  78. HE GETS IT!!!

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