Problems with Lehman and Aurora

Lehman had nothing to do with the loan even at the beginning when the loan was funded, it acted as a conduit for investor funds that were being misappropriated, the loan was “sold” or “transferred” to a REMIC Trust, and the assets of Lehman were put into a bankruptcy estate as a matter of law.

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

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I keep receiving the same question from multiple sources about the loans “originated” by Lehman, MERS involvement, and Aurora. Here is my short answer:
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Yes it means that technically the mortgage and note went in two different directions. BUT in nearly all courts of law the Judge overlooks this problem despite clear law to the contrary in Florida Statutes adopting the UCC.

The stamped endorsement at closing indicates that the loan was pre-sold to Lehman in an Assignment and Assumption Agreement (AAA)— which is basically a contract that violates public policy. It violates public policy because it withholds the name of the lender — a basic disclosure contained in the Truth in Lending Act in order to make certain that the borrower knows with whom he is expected to do business.

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Choice of lender is one of the fundamental requirements of TILA. For the past 20 years virtually everyone in the “lending chain” violated this basic principal of public policy and law. That includes originators, MERS, mortgage brokers, closing agents (to the extent they were actually aware of the switch), Trusts, Trustees, Master Servicers (were in most cases the underwriter of the nonexistent “Trust”) et al.
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The AAA also requires withholding the name of the conduit (Lehman). This means it was a table funded loan on steroids. That is ruled as a matter of law to be “predatory per se” by Reg Z.  It allows Lehman, as a conduit, to immediately receive “ownership” of the note and mortgage (or its designated nominee/agent MERS).
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Lehman was using funds from investors to fund the loan — a direct violation of (a) what they told investors, who thought their money was going into a trust for management and (b) what they told the court, was that they were the lender. In other words the funding of the loan is the point in time when Lehman converted (stole) the funds of the investors.

Knowing Lehman practices at the time, it is virtually certain that the loan was immediately subject to CLAIMS of securitization. The hidden problem is that the claims from the REMIC Trust were not true. The trust having never been funded, never purchased the loan.

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The second hidden problem is that the Lehman bankruptcy would have put the loan into the bankruptcy estate. So regardless of whether the loan was already “sold” into the secondary market for securitization or “transferred” to a REMIC trust or it was in fact owned by Lehman after the bankruptcy, there can be no valid document or instrument executed by Lehman after that time (either the date of “closing” or the date of bankruptcy, 2008).

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The reason is simple — Lehman had nothing to do with the loan even at the beginning when the loan was funded, it acted as a conduit for investor funds that were being misappropriated, the loan was “sold” or “transferred” to a REMIC Trust, and the assets of Lehman were put into a bankruptcy estate as a matter of law.

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The problems are further compounded by the fact that the “servicer” (Aurora) now claims alternatively that it is either the owner or servicer of the loan or both. Aurora was basically a controlled entity of Lehman.

It is impossible to fund a trust that claims the loan because that “reporting” process was controlled by Lehman and then Aurora.

*

So they could say whatever they wanted to MERS and to the world. At one time there probably was a trust named as owner of the loan but that data has long since been erased unless it can be recovered from the MERS archives.

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Now we have an emerging further complicating issue. Fannie claims it owns the loan, also a claim that is untrue like all the other claims. Fannie is not a lender. Fannie acts a guarantor or Master trustee of REMIC Trusts. It generally uses the mortgage bonds issued by the REMIC trust to “purchase” the loans. But those bonds were worthless because the Trust never received the proceeds of sale of the mortgage bonds to investors. Thus it had no ability to purchase loan because it had no money, business or other assets.

But in 2008-2009 the government funded the cash purchase of the loans by Fannie and Freddie while the Federal Reserve outright paid cash for the mortgage bonds, which they purchased from the banks.

The problem with that scenario is that the banks did not own the loans and did not own the bonds. Yet the banks were the “sellers.” So my conclusion is that the emergence of Fannie is just one more layer of confusion being added to an already convoluted scheme and the Judge will be looking for a way to “simplify” it thus raising the danger that the Judge will ignore the parts of the chain that are clearly broken.

Bottom Line: it was the investors funds that were used to fund loans — but only part of the investors funds went to loans. The rest went into the pocket of the underwriter (investment bank) as was recorded either as fees or “trading profits” from a trading desk that was performing nonexistent sales to nonexistent trusts of nonexistent loan contracts.

The essential legal problem is this: the investors involuntarily made loans without representation at closing. Hence no loan contract was ever formed to protect them. The parties in between were all acting as though the loan contract existed and reflected the intent of both the borrower and the “lender” investors.

The solution is for investors to fire the intermediaries and create their own and then approach the borrowers who in most cases would be happy to execute a real mortgage and note. This would fix the amount of damages to be recovered from the investment bankers. And it would stop the hemorrhaging of value from what should be (but isn’t) a secured asset. And of course it would end the foreclosure nightmare where those intermediaries are stealing both the debt and the property of others with whom thye have no contract.

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6 Responses

  1. Reblogged this on Deadly Clear and commented:
    Moreover, the investors’ transactions were securities BEFORE any faux mortgage or note was executed. No disclosure was provided to the homeowner where his collateral was going or how it was being risked. At rehypothecation to these transactions and we have a lethal dose of corruption sizzling in fraud.

  2. Anonymous: wire fraud crossing state lines?

  3. I think that these notes pre-Lehman bk were assets of Lehman and don’t reflect the facts of the transaction since the named lender didn’t fund the loan. A transfer to the trust at this date, besides being against trust law, is an attempt at payment of an antecedant debt, the money owed the investors as a result of embezzling their MBS monies to fund the loans instead of using their position of trust to put the money in a trust to pay for investors’ MBS’s. The loans weren’t collateral for the embezzled funds because embezzlled funds don’t
    have collateral: the investors are owed 500k, say, on X loan, and not the value of the collateral for the loan (the borrower’s home) which is what is being foisted off on them if they take any loss on their 500k.

    So who does the borrower owe? Got me. If you stole the money to loan to me, do I still owe you the money? Maybe. But then if you file bk while my note is alive, IF that IS your asset, isn’t it now an asset of your bk estate (here Lehman’s)? Does Lehman need authorization from the bk court to transfer an asset (and this one in payment of an antecedant debt which is UNsecured?) I would think so. So what they must’ve done is use the blank endorsement to claim the asset acquired with stolen funds belonged to someone else or ???? There actually is some case law on the use of a note to pay an antecedant debt, just not one that I’ve seen where the antecedant debt is the result of embezzlement – and it didn’t involve a trust regulated by its own law.
    I don’t know how this shakes out, being a plebe, but someone does. The someone who does is likely those in the loop of the embezzlement
    and not our team. I can only know two things: If investor funds were used to fund loans, they were embezzled. If it weren’t for trust law,
    it’s possible the loans could be transferred to the injured and accepted as payment of an antecedant debt owed them as a result of the embezzlement. But there’s no trust without all the “missing stuff”:. Just a group of investors. Well, I think so, anyway. But as we know, the fix is in, right?

  4. ….the loan was “sold” or “transferred” to a REMIC Trust,

    We complained to the FBI about the defective assignment of our mortgage. We got a reply stating, the allegation that the mortgage was not assigned properly does not constitute violation of Federal criminal law.

    The fundamental of our complaint was to inform the Federal agency that the defective and backdated assignment was to a REMIC trust and therefore it might have created fake mortgage backed securities and wrong tax consequences. If the FBI cannot discover this, we are very disappointed.

    Anyone has suggestions as to how to proceed this matter further with the FBI to continue the investigation.

  5. The English Central Bankers learned, early on, they should manipulate their intended victims from a place of concealment.

    As “puppet masters”.

    James Comey was on the executive board of a Chinese-English hybrid-bank, “HSBC”, aka “Hong Kong-Shanghai Banking Corporation” while that bank was using American Mortgages to launder terror and drug cartel money!!!!

    If you’re having a sandwich, call on James Comey;

    When it comes to the Clintons: He’s full of baloney.

    He’s not fixed for a hero

    More : submarine sandwich

    And there’s evidence now he can’t provide for a manwich.

    But his chicken is good

    And while his feathers are yellow,

    The Clintons have plucked him; he’s now boneless and mellow.

    He once was a slaw man but he’s now into a pickle

    While his digestion has turned and his appetite fickle.

    The United States is presently, under attack and that attack is being conducted from within our financial center. The attack comes, in the nature of a “Palace Coup”.

    The criminal, banking cartel attempting to use our own financial well-being as a weapon, directed against US, is doing so, in service to a Criminal Erosion of our Property Rights (fraudulent “REMIC Trusts” concealing fraudclosures of American Homes), the value of our currency (1200 Trillion owed to inter-bank, criminal behaviors, ie: laundering terror and drug money) and a coordinated effort, within Law Enforcement, to ignore and refuse to adhere to the “Rule of Law”.

    Eric Holder’s DOJ and Loretta Lynch’s DOJ know Bank of America, Wells Fargo and “HSBC” banks are using American Mortgages to launder terror and drug money.

    OUR OWN LAW ENFORCEMENT IS SELLING THE UNITED STATES DOWN THE RIVER SO A FOREIGN, CRIMINAL BANKING CARTEL CAN ROB US OF OUR PROPERTY RIGHTS!

    THEY ARE DOING SO IN ORDER TO COLLAPSE THE FINANCIAL CENTER OF THE US!

    THERE ARE CURRENTLY 1200 TRILLION FEDERAL RESERVE NOTES OWED TO THEIR INTER-BANK CRIMINAL BEHAVIORS!!!!

    Every true patriot should ask themselves:

    “How is it that the English managed to preserve their currency, while every other currency (the wholly-insolvent, now-“hyper-inflationary”, “federal Reserve Notes”, included) has been targeted for destruction”?

    Yes, Ladies and Gentlemen, the criminal, English-based, Central Bankers have managed, yet again, to preserve their currency of choice, “The English Pound”.

    President Obama, the Judas Goat…

    Uncle Tom at the tiller of the Big Banker’s Boat.

    Once colored a “donkey” for the DNC vote

    Now sinking, with Warren,

    Two turds that won’t float.

    President Obama is currently holding Fannie and Freddie hostage in order to rob minorities of their ability to use F&F to purchase a home.

    http://www.rollingstone.com/politics/news/why-is-the-obama-administration-trying-to-keep-11-000-documents-sealed-20160418

    The President kidnapped F&F in 2008 and has been robbing the homes within the portfolios of “loans” within F&F and the investors to those portfolios of “loans”.

    The criminal bankers, like Hank Paulsen, from Goldman Sachs, explained 10% of the funds generated by F&F would be taken until the financial system stabilized. The President allowed this scam to go forward.

    The President did so in order to steal 100% of the profits owed from the “loans” within Fannie and Freddie so he could reward his masters, the criminal, English-Based, Central Banking Cartel, with those profits.

    The President is trying to help his masters, the criminal bankers, to re-capitalize after they have destroyed themselves. (Google: “1200 Trillion and derivatives”, an impossible sum of money for any bank, or group of banks, to ever pay back).

    The President’s actions in concealing the central bankers’ “Insolvency”, is a NATIONAL DISGRACE” and his … er … ehem … “Law Enforcement Officials” are simply fronting for a Criminal Cartel.

    At the moment, Obama is “Lynching” the Nation.

    He is now just a scaffold for Clinton Castration.

    He reached within his chest of drawers

    To pack the Bureau with Clinton whores.

    The first of which, Loretta Lynch,

    Is just another Clinton Donkey;

    Grinding DNC organ,

    For the Clinton Monkey.

    And We The People must never forget the HSBC Banker:

    Now FBI Director Comey:

    A peerless Coward and Corruption’s Homey…

    So, PBO thought to himself: “While that monkey’s on Clinton’s back,

    “Let’s hire ourselves an FBI Hack”:

    Loretta the Mule.

    A sterile result for all to see, of Law Enforcement that sits to Pee.

    The thoroughly-bred Mule,

    Now on plantation,

    That won’t raise a hand to save the Nation.

    Lorretta Lynch and Eric Holder

    Two crimes of inaction; each bolder-than-bolder.

    Eric Holder, held US down while the banksters robbed homes in every town.

    They used the “MERS” to murder our dreams,

    And poison our children through criminal schemes.

    While, not so much as a one, has gone to jail,

    Through Holder’s NONSENSE… Of “Too Big To Fail”-

    I VOTE HOLDER, THE FIRST ONE TO NAIL.

    Barack Obama: no “American Lion”;

    While not quite above, putting the “lie-on”,

    For the crime that is Clinton; Democracy’s Canker

    And the Treason to Britain, as a “Federal … Reservation… Banker”.

    Now, not so much a riddle, while once there was Biddle;

    A “Tubman” to “Jackson”, Obama’s inaction, smacks of coercion and political faction.

    There’s nothing “Left” of Obama,

    While he’s now “Right” in the middle…

    A panned-cake, filled with BS of Bought-and-Sold,

    A nutless brownie, now burned by the griddle.

    Senator Sanders, We The People, Abe Lincoln’s Greenback Dollar.
    Investigate and Jail the Clintons
    Investigate and Jail the Bankers
    Investigate and Jail the Media as a full-blown Foreign Propaganda
    Investigate and Jail any politician that doesn’t go on the record to explain the intentionally mislabeled, “Federal Reserve” is a foreign, privately-owned and operated, front for an international criminal Cartel.

    Impeach Loretta Lynch. She is another Clinton Apologist and an international disgrace to LAW ENFORCEMENT!

    The Clintons and their fellow, corruption, aka, American Politicians, are also an international, Criminal Disgrace.

    Bring charges against Eric Holder and Lanny Breuer for criminal negligence.

    They and their law firm, Covington-Burling and The bankers and the corrupted political class have destroyed legal title to every home within the MERS- the “REMIC Trusts” are altogether, wholly-fraudulent.

    (see: http://scholarship.law.wm.edu/cgi/viewcontent.cgi?article=3399&context=wmlr),

    Read,the article, above, particularly p. 116, wherein, the author, Professor Christopher L. Peterson, formerly of S.J. Quinney Law School, now chief counsel of enforcement for the CFPB, explains the “MERS” as created as a “shell company” that is being used to “PRETEND” TO OWN SOME 70 MILLION RESIDENTIAL TITLES TO PEOPLE’S HOMES!)

    “PRETEND TO OWN PEOPLE’S HOMES”!!!!

    The two “shell companies” the bankers and corrupted politicians are using to rob the American Electorate are: 1) The Mortgage Electronic Registration System; the “MERS” … and 2) Residential Capital; “RESCAP”.

    3rd parties (drug and terror cartels) are cleansing their criminal proceeds, using 30-day, monthly mortgage payments, on “loans” that have already been paid, in-full, up-front, at the beginning of the “loan”…

    BEFORE THE FIRST PAYMENT WAS EVEN DUE!

    THINK ABOUT IT: THE BANKERS STOLE OTHER PEOPLE’S MONEY (THE PENSION PLANS); THEN THEY PAID THE “LOANS”, IN-FULL; THEN THEY CLAIMED THOSE “LOANS” ENTERED LAWFUL ACCOUNTS (PROPERLY-RECORDED, IN REMIC TRUSTS); THEN, THEY STOLE THE PAPER CONTRACTS TO THOSE “LOANS” (THE LAWFUL TITLES); THEN, THEY USED THOSE TITLES TO CREATE BETS ON WALL STREET!

    The Pension Plans of the Police, firemen, teachers and municipal workers were stolen by the banks and the government, to pay the “loans” off before a single penny was due from the defrauded homeowners.

    Then the criminals created phony, hyper-fraudulent, “REMIC TRUSTs” with equally-phony, Pooling and Servicing Agreements “PSAs” to “PRETEND” to the SEC those “TRUSTS” are legitimate… They are not.

    There are no assets (homeowner “loans”) in the “REMIC Trusts”! They are EMPTY!!!!

    THE TITLES TO THESE HOMES ARE IRREVOCABLY CONTAMINATED AND NOW FRAUDULENT! (some 70 million American Homes).

    Eric Holder, Lanny Breuer and Covington-Burling’s activities, through their creation of the “MERS” and the robbing of fees owed to lawful recording among 3142 American Counties, have cost communities, across America, Billions, lost to legal accounting of lawful residential titles, that should have been used for “representative government” and fresh water for children…

    These criminal behaviors and criminal actors, are now responsible for the deaths of, at least, 11 children, in Flint, Michigan…

    To say nothing of the death of “representative government”.

    The Attorney’s General throughout all fifty states are also complicit in Criminal Negligence, through their inactivity, even as they refused to do their job in order to take a “pay-off” of 25 million dollars.

    (http://www.housingwire.com/articles/schneiderman-banks-agree-25-million-mers-deal).

    The English-based, central bankers, currently in residence to the intentionally-mislabeled “Federal Reserve (neither “Federal”, nor, possessing ANY “Reserves”)”, have hijacked Obama’s chapter 11 restructure of GM and they are using Fannie and Freddie to mask their “Insolvency”:

    https://timhoward717.com/2016/04/12/truth-unleashed-governments-scheme-exposed-full-unsealeddocument-release-enclosed/

    The Criminal, English-based, Central Bankers have destroyed themselves (Google: “1200 Trillion Dollars and Derivatives”) and they are attempting to install a new puppet: whether Trump or Clinton…

    Clinton deregulated “Derivatives”; now there are 1200 Trillion (an impossible amount of money, 20 times the combined GDP, of every country on this planet), owed to these criminal “bets”. It is a deliberate attack (as those fedbucks are now worthless) against what the bankers would like the American Electorate to believe is, “American Currency”.

    IT IS NOT “AMERICAN CURRENCY”. WE THE PEOPLE DON’T OWE IT…

    THE CRIMINAL BANKS OWE IT!!!!

    The good news is: Article 1, Section 8, of the Constitution, makes zero allowance for a privately-owned and operated, Criminal, Foreign, Cartel to manipulate American Currency.

    Not only have they have concealed, for 100 years, they are an imposter, they are, just now, hijacking our electoral process to install a puppet; whether Clinton or Trump, in order to conceal 1200 Trillions owed to their multitude of criminal behaviors.

    The Obama Administration is allowing it.

    Repudiate and Jail the Bankers; renounce their phony “Fed” “Notes”.
    Repudiate the phony Bankers’ debts; replace those with pro-rated Greenbacks.
    Jail any politician or media representative that doesn’t, immediately, confess the intentionally-mislabeled “federal Reserve” is a FRAUD of epic proportions.

    It is simply “TREASON” to allow any other procedure to go forward.

    Every true Patriot should question why the Chinese Yuan is now a minority partner in the American financial system: the intentionally-mislabeled, “Federal Reserve, neither Federal, while privately-owned and operated”, nor, possessing ANY “Reserves- our currency is created, out-of-thin-air”!

    WHY?

    Why is the present FBI Director concealing the crimes of a Chinese-English-hybrid Bank????

    Why is the DOJ of Holder and now, Lynch, concealing the crimes of a Chinese-English-hybrid Bank????

    American soldiers died while American Politicians and American “Law Enforcement” were busy concealing a criminal laundry, robbing homes and pensions, in order to steal property rights, in order to launder terror and drug money.

    Don’t believe me? You don’t need trust me.

    Instead, read this analysis of the “Deferred Prosecution Agreement- DPA”, below, written by Federal Judge Gleeson:

    Case 1:12-cr-00763-JG Document 23 Filed 07/01/13

    Federal Judge Gleeson and now, Federal Judge Ann Donnelly are both aware, HSBC is in violation of the “Anti-Money Laundering Acts”, “The International, Emergency Economic Powers Act”, “The Bank Secrecy Act” and “The Trading with Enemies Act”.

    In fact, as part of the sanctions imposed by Judge Gleeson, Wells Fargo and HSBC are now forbidden the “Servicing” of any new “loans”.

    American Soldiers had their homes stripped in foreclosures, predicated upon, counterfeit titles, forgery and fraud, so American “Law Enforcement” and Corrupted American Politicians could curry favor with criminal banks owned by foreign cartels.

    American soldiers died, at the hands of these cartels.

    Every true Patriot should ponder why it is the English Pound has managed to survive, intact, while every other currency on the planet has been undermined, in service to British lies about a phony war in the Middle East.

    In fact, the British used the American CIA, in “Operation Ajax (1953)”, to remove a democratically-elected president (Mossadeq), of the Iranian People. He was promising to eject the British and return the Iranian oilfields to the Iranian People.

    The US then installed Shah Pahlavi, a degenerate murderer of the highest order; American Awareness of the “Islamic Revolution” was born.

    Prior to British and American LIES, the Iranians were promising a “Bourse” to sell their oil to countries using any money, other than the US Dollar.

    Enter the EURO.

    The phony war in Iraq conspired to destroy the Euro and the victims it has consumed while continuing to consume Libya and Syria, in its aftermath, scream at the top of their lungs for retribution…

    Hence a phony “War on Terror”.

    The bright and shiny, “Brexit Bauble”, demands further scrutiny and it will never suffice, beyond a distraction, until the Criminal, English-based, Central Banking Filth are stripped of their ability to manipulate the well-being of America’s Finances, our service women and men and American Citizens… to say nothing of every Citizen of every Nation the present, Criminal Cartel destroys, while masquerading as the United States.

    http://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-chart-2015-12-18

    ~ Michael Keane copyright 6/25 2016
    Please feel free to share on FB.

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