Not even the Federal Government Can Determine Who owns Your Loan

It was impossible to trace the majority of the mortgage loans on the over 300 homes sold by DSI that were the subject of the FBI investigation; it would have been harder yet to identify individual victims of the fraud given that the mortgages were securitized and traded. (Emphasis added.)

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

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Originally posted at http://mortgageflimflam.com
With additional edits by http://4closurefraud.org

“Counter-intuitive” is the way Reynaldo Reyes (Deutschbank VP Asset Management) described it in a taped telephone interview with a borrower who lived in Arizona.  “we only look like the Trustee. The real power lies with the servicers.”

And THAT has been the problem since the beginning. That means “what you think you know is wrong.” This message has been delivered in thousands of courtrooms in millions of cases but Judges refuse to accept it. In fact most lawyers, even those doing foreclosure defense, and even their clients — the so-called borrowers — can’t peel themselves away from what they think they know.

In the quote above it is obvious that the sentencing document reveals at least two things: (1) nobody can trace the loans themselves which in plain English means that nobody can know who loaned the money to begin with in the so-called loan origination” and (2) nobody can trace the ownership of the loans — i.e., the party who is actually losing money due to nonpayment of the loan. Of course this latter point was been creatively obscured by the banks who set up a scheme in which the victims (investors, managed funds, etc.) continue to get payments long after the “borrower” has ceased making payments.

If nobody knows who loaned the money then the presumption that the loan was consummated when the “borrower”signed documents placed in front of them is wrong for two reasons: (1) all borrowers sign loan documents before funding is approved which means that no loan is consummated when the documents are signed. and (2) there is no evidence that the “originator” funded the loans (regardless of whether it is a bank or some fly by night operation that went bust years ago) loaned any money to the “borrower.” (read the articles contained in the link above).

The reason why I put quotation marks around the word borrower is this: if I don’t lend you money then how are you a borrower, even if you sign loan papers? The courts have nearly universally got this wrong in virtually all of their pretrial rulings and trial rulings. Their attitude is that there must have been a loan and the homeowner must be a borrower because obviously there was a loan. What they means is that since money hit the closing table or the last “lender” received a payoff there must have been a loan. What else would you call it?

Certainly the homeowner meant for it to be a loan. The problem is that the originator did not intend for it to be a loan because they were not lending any money. The originator played the traditional part of a conduit (see American Brokers CONDUIT for example). The originator was paid a fee for the use of their name and traditionally sold the homeowner on taking a loan through the friendly people at XYZ Speedy No Fault Lending, Inc. (a corporation that often does not exist).

Somebody else sent money but it wasn’t a loan to the homeowner. It was the underwriter who was masquerading as the Master Servicer for a Trust that also does not exist. Where did the underwriter get the money? Certainly not from its own pockets. It took money from a dynamic dark pool that should not exist, according to the false “securitization” documents (Prospectus and Pooling and Servicing Agreement).

Who deposited the money into the dark pool? The sellers of fake “mortgage-backed securities”who took money from pension funds and other managed funds under the false pretense that the money would be under management of a specific REMIC Trust that in actuality does not exist, never conducted business under any name, never had a bank account, and for which the Trustee had no duties except window dressing to make it look good to investors. How is that possible? NY law allows for the documentation of a trust without any registration. The Trust does not exist in the eyes of the law unless there is something in it. This like a stick figure is not a person.

None of the money from investors went into any Trust account or any account of any trustee to be held and managed for a REMIC Trust. Sound crazy? It is crazy, but it is also true which is why it is impossible for even the Federal Government with virtually limitless resources cannot tell you who loaned you any money nor who owns any debt from you.

The money was surreptitiously deposited into hundreds of dark pools in institutions around the world. The actual business of the dark pols was to create the illusion of profits for the banks and a huge dark reserve that siphoned some $5 trillion out of the U.S. economy and more out of other economies around the world.

To cover their tracks, the banks took some of the money from the dark pool and started a chain reaction of offering what appeared to be loans but which in most cases were financial death sentences.

The investors, for sure, have a potential claim against the homeowners who received actual benefit from a flow of funds, but without being named in the loan documents, they have no direct right of foreclosure. And then there is the problem of coming up with the correct list of investors whose money was commingled with hundreds of fake trusts. The investors know that collectively, as a group they are owed money from homeowners as a group. But NOBODY KNOWS which investors match up with what alleged loan. The homeowner can ONLY be a “borrower” if they executed a loan contract and the contract became enforceable because there was offer, acceptance and consideration flowing both ways. Without all four legs of the stool it collapses.

Judges resist this “gift” to homeowners while ignoring and accepting the consequence of a gift of enormous proportions to the few banks at the top who started all this. Somehow word has spread that the middle and lower class is the right place to put the burden of this illegal bank behavior.

The homeowner’s offer of consideration is the promise to pay principal sometimes with interest. The originator’s offer of consideration is not to the homeowner. The originator has offered services for a fee to the conduits and sham corporations that put the originator up to selling bad loans from undisclosed third parties to people who lacked the financial knowledge to understand what was happening. So no contract there. No contract? No borrower. No contract? No lender. Hence the term I used back in 2007, “pretender lender.” I should have also coined the term “mock borrower.”

Sound impossible? Here is the finding from the sentencing document:

During the time of the information, DSI worked with two “preferred lenders,” Wells Fargo Bank and J.P. Morgan Chase. Certain employees and managers of those two preferred lenders knew about the incentive programs offered by DSI and the builders, and knew that the incentives were not being disclosed in the loan files. (Emphasis added.)

And that is what we mean by “counter-intuitive.” It is a lie, a cover-up and a fraudulent scheme directed at multiple  victims. Under existing law, foreclosure is not an option for persons who lack standing and have unclean hands. Nearly all loan transactions were table funded and that means, according to TILA, that they are and were predatory loans. And that means, according to me, that it is impossible to allow any equitable relief be had by those who have unclean hands — especially those who seek foreclosure, which is an equitable remedy.

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10 Responses

  1. Think about the indymac – FSB
    Who foreclosed on you

  2. No lender
    Then how can you concede to a 1099a issued by a servicer
    I think thats breach of contract, we are dead in the water as far as having due process. They issue the 1099a after your home is already taken away… ” abandonment” easy peezy in a non judicial foreclosure state they use foreclosure mills as a layer of protection as sub trustee, we see how well executed the crime is when you look at it backwards, in retrospect, 20/20 as the saying goes.
    I keep thinking how they got AlCapone. No remic, securitization fail.

  3. Reblogged this on Deadly Clear.

  4. JUST SOMETING I SENT TO MY LAWYER,

    ARE WE SET FOR FRIDAY MEETING? AND WHAT TIME? AND I HOPE YOU ARE READY AND OPEN TO common sense THINKING.

    if you open your eyes to the facts, and LAWS, AND not what is being presented by the banks/trust/servicers/ as real facts. then you will see through all the fraud THAT THE BANKS ARE PRESENTING, AND JUDGES ARE PRESUMING TO BE TRUE FACTS. THE ACCOUNTING WILL TELL US THE ONLY TRUE FACTS,

    AS TO WHO WAS THE REAL PARTY AT CLOSING TABLE THAT LENT MR MARSHALL/BELANGER ANY MONEY. we know it was not GMAC MORTGAGE CORP/INC. THERE IS NOTING IN THE CLOSING FILE THAT SHOWS THAT A CHECK OR ANY FUNDS CAME FROM GMAC MORTGAGE CORP/INC. but we do know that GMAC MORTGAGE CORP/INC TOOK MR MARSHALL/BELANGERS NOTE , AND SIGN IT OVER TO DBTCA TO BORROWE MONEY FROM DBTCA, SO HOW MUCH DID GMAC MORTGAGE CORP/INC
    GET FOR SIGNING OVER THE NOTE TO THEM. ???? WAS IT 350,000, WAS IT 3 MILLION, WAS IT 35 MILLION,. WELL LETS OPEN THE BOOKS FROM ALL PARTYS AND FIND OUT SHELL WE.
    but we do know that GMAC MORTGAGE CORP/INC TOOK STOLE, MR MARSHALL/BELANGERS MORTGAGE /AND NOTE , AT CLOSING, AND SIGN IT OVER TO DBTCA TO Borrow MONEY FROM DBTCA, SO GMAC MORTGAGE CORP/INC WAS THE Borrower ,

    SO WITH GMAC MORTGAGE CORP/INC NOT GIVING ANY CONSIDTERATION AT THE CLOSING, BUT STEALING/ CONCEALING/ DEFRAUDING/MR MARSHALL/BELANGER TO THINK / BELEIVE / THAT THEY WERE GETTING THE MONEY FROM THE CLOSING FROM GMAC MORTGAGE CORP/INC. WAS ALL FRAUD.LIES.DECEIT, UNJUST ENRICHMENT, ETC.ETC

    HOW MUCH DID GMAC MORTGAGE CORP/INC
    GET FOR SIGNING OVER THE NOTE TO THEM. ???? WAS IT 350,000, WAS IT 3 MILLION, WAS IT 35 MILLION,. WELL LETS OPEN THE BOOKS FROM ALL PARTYS AND FIND OUT SHELL WE.

    CONTRACT LAW, 101.

    The homeowner can ONLY be a “borrower” if they executed a loan contract and the contract became enforceable because there was offer, acceptance and consideration flowing both ways. ( hence- the funds came DIRECTLY from the person , i.e. ( GMAC MORTGAGE CORP.INC ) Without all four legs of the stool it collapses.

    As WE KNOW THAT DIDN’T HAPPEN! As the WIRE TRANSFER OF FUNDS TO THE CLOSING ATTORNEY CAME FROM DBTCA, and no where in any CLOSING DOC
    DOES IT SAY THE MR MARSHALL WOULD BE RECEIVING THE FUNDS- FROM DBTCA TO COMPLETE THE FRAUD COMSUMATION.

    SO UNDER CONTRACT LAW, THERE WOULD BE NO COMSUMATION OF CONTRACT, BY MR MARSHALL, AND GMAC MORTGAGE CORP,OR INC, BECAUSE
    GMAC MORTGAGE CORP, OR INC, DID NOT GIVE ANY consideration AT THE CLOSING TABLE.

    GMAC MORTGAGE CORP, OR INC. CAN NOT PROVE THAT THEY LEND A DIME AT THE CLOSING TABLE. PERIOD. NO MEETING OF THE MINDS, FROM BOTH ENDS.

    SO UNTIL THAT CAN BE PROVEN, I.E. THAT GMAC MORTGAGE CORP,OR INC. GAVE THE CONSIDERATION AT THE CLOSING TABLE FROM THERE OWN

    ACCOUNTS, THEN THE CONTRACT I.E. MORTGAGE AND NOTE IS NAUL AND VOID. AND FRAUDULENT CONCEALMENT, AND ETC,ETC. WAS PREPERTRATED

    AGAINST ON MR MARSHALL AND BELANGER.

    SO WE MUST START AT BEGINING TO SEE IF , WE CAN GET TO THE FINNISH . AND THAT WILL TAKE A COMPLETE ACCOUNTING OF BOOKS FROM ALL PARTYS

    TO THIS FRAUD CONTACT. I.E. MORTGAGE AND NOTE.

  5. If you find fraud in assignment of mortgage, request the FBI to investigate as fabricating mortgage backed securities may be a federal crime.

  6. My question is: when they sold the “alleged” Note multiple times, who made that money? The Master Servicer? You house was paid off in the infamous TARP funds that were given to the bankster thieves.

  7. E’S.F……
    Where the Sun don’t Shine !!!

  8. The manufactured wars continue….the staged elections continue…the LIES continue.

  9. The truth is we live in a place that is run by corrupt evil beings. Until the idiotic people ALL REFUSE TOGETHER to follow what these evil beings tell them what to do…the fradulent foreclosures continue, the staged shootings continue, the theft of your paycheck continues, etc, etc, etc….the EVIL continues, THE END

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