New Mexico Supreme Court: No Standing for Deutsch

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

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Hat tip to Ken McLeod
So we are coming full circle where the assertions I advanced starting in 2007 are finally being accepted by the Courts. This is happening because the Courts are, at a minimum, highly suspicious of whether a real creditor exists and whether the banks are still involved in an illegal scheme in which they literally had to lie, cheat and steal to make their scheme work while at the same time making it look like “this is a standard foreclosure” which is the refrain used by bank lawyers in millions of cases.
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The trial court, as usual, found that Deutsch had standing — even if they didn’t own the debt and even though it was apparent there a snowstorm of paper to cover up the fact that nobody involved in that foreclosure, except the homeowners, had any interest in the property, the debt, the note or the mortgage.
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The appellate court disagreed with the trial court and the Supreme court of New Mexico affirmed the appellate court with an opinion.
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The lawyers for Deutsch Bank, who probably knew nothing about the lawsuit, performed all sorts of gymnastics to “prove” they owned the loan. But what it really comes down to is that they were relying on legal presumptions as a substitute for proof. The attitude of the trial Judge was reflective of the pandemic of judicial tolerance for fraud. The plain fact is that if Deutsch actually owned the debt they would have said so. If Deutsch actually had paid for the debt, the loan, the loan documents they would have said so, asserting they are a holder in due course who had purchased for value in good faith without knowledge of the borrower’s defenses.
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The UCC in virtually all states accepts the proposition that the maker of a note, even if it was procured by fraud, bears the risk of loss on the note and on the mortgage if they were actually purchased for value, in good faith and without knowledge of the borrower’s defenses. Why wouldn’t Deutsch have alleged that if they really owned the loan? The answer is obvious. The Trust is a sham with no business activity. The Trustee is window dressing who has no duties and whose Trust department has nothing to do with an empty trust.
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Since the sale of MBS to investors was NOT followed by payment to the Trustee on behalf of the Trust, there is nothing for the Trustee to administer and no duties to perform except receiving their monthly fee for keeping their mouth shut.
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This case is a good example of the double-speak offered by parties who wish to initiate foreclosure. The tide is turning. If the mistakes of the past are continued, we are opening the door to a new industry — trolling for debt, creating false assignments and enforcing the debts as though the assignment was real. I can even see how parties might simply troll mailboxes and give a new address and name for the payment of even a household bill. Some evidence of this new industry has already started in California and other states.
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It is not the fault of borrowers that there is no creditor to be found, resulting from the infinite intermingling of investor funds such that it is impossible to identify a creditor or even a group of creditors in some dynamic slush fund in which money is coming in every minute and money is going out every minute. Thousands of investors in thousands of alleged Trusts have lost any nexus between their money and any loans that were allegedly made.

 

7 Responses

  1. Ill tell my story one day

  2. Deborah, I take it the Great Black Robes who rule us all ruled against you? Is that what you’re saying?

  3. And yes the fat lady is singing
    It goes ” I did it my way” 😊 Almost 7 miserable years, learned a lot though
    But I’m relieved it’s over. New chapter for me.

  4. Class actions
    Next round
    I’m here to tell you pro se had no chance
    It’s not possible because off everything we discuss on here
    We need big hitters to take class action suits suits
    Consumer defenders, you might focus on getting that set up then take the group of pro se folks to a big class action law firm, they could all get their homes maybe not for free but new contracts set a proper market value and interest rate fixed for what the banks have done at the very least
    That’s the wAy forward to get change and the better case law,
    Love you all.
    Best of luck

  5. Contact Consumer Rights Defenders for pro se litigation assistance by calling 818.453.3585….ask for Mr. Nelson, J.D., they are Nationwide.

  6. It certainly took the courts a long time to figure this out, but I think the tide is turning. We should be seeing a tsunami of these decisions coming out.

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