Lawsuit Seeking Disgorgement Might Not Be Barred by Statute of limitations

What is apparent here is that the Courts are coming to terms with the possibility that those relying upon a statute of limitation as a defense to various claims might NOT be protected by an otherwise applicable statute of limitations.

The premise enunciated in a decision that seeks affirmation from the U.S. Supreme Court, is that disgorgement is not monetary damages or a penalty. It is an equitable finding that a party has been unjustly enriched and therefore has no present right to hold onto ill-gotten gains. The decision could result in elimination of the statute of limitations as a defense for the banks.

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THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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This is a potential thrust to the heart of the bank strategy to create a vacuum, fill it with illusory claims on behalf of complete strangers to the transactions, and walk away with a free house after submitting an utterly fraudulent “credit bid.”.
The SEC is asking the Supreme Court to affirm the Tenth Circuit’s decision in SEC v. Kokesh, which held that “disgorgement is not a penalty under [28 U.S.C.] § 2462 because it is remedial” and, therefore, is not subject to the five-year federal statute of limitations in § 2462. see https://www.findknowdo.com/news/01/04/2017/sec-urges-supreme-court-affirm-disgorgement-not-subject-statute-limitations?utm_source=Mondaq&utm_medium=syndication&utm_campaign=View-Original
A favorable SCOTUS decision would have the effect of recasting the suits for damages as instead suits for disgorgement because neither the servicers nor anyone they represent had any right to collect or enforce the putative loan by an undisclosed and probably unknown creditor. This would have the same ultimate effect as TILA rescission which the courts have steadfastly resisted despite the clear language of 15 USC §1635 and SCOTUS in Jesinoski v Countrywide.

8 Responses

  1. @david_belanger Do you know of anyone else who has done what you’re doing? (The result has been amazing so far.)

  2. @Rhody Sure sounds like it.

  3. I TRULY BELIEVE THAT MOST ATTORNEY , DO NOT LIKE TO DO ANY WORK THEMSELVES, WOW.

    SO TO EVERYONE OUT THERE. DONT STOP INVESTIGATING EVERYTHING, FROM START TO FINNISH.

    AFTER TALKING TO MERSCORP HOLDINGS, WHILE I WAS HAVEING THEM DISCHARGE ONE OF THE MORTGAGE S, THAT THEY DID DISCHARGE LAST WEEK. I ASK THEM MANY MANY QUESTION.

    SO THE QUESTION ASKED. A (WILLIAM LONG ) YOUR COMPANY’S, ASSISTANT SECRETARY DID SIGN THE ASSIGNMENT ) THAT YOUR COMPANY PUT / PLACED ON MY PROPERTY.

    EXCUSE ME SIR,MR BELANGER, AGAIN WE, MEANING MERS,MERSCORP, MERSHOLDING, OR MORTGAGE ELECTRONIC REGISTRATION SYSTEMS,INC.

    DO NOT SUPPLY, PRODUCE, ORDER, FILL OUT, ANY ASSIGNMENTS. WE HANDLE NOTHING, DO NOTHING, IN MAKING A ASSIGNMENTS.

    I DO NOT WHO WILLIAM LONG IS, I SAID YOU MUST , AS YOUR ASSISTANT SECRETARY , NO , DOES NOT WORK HERE. NEVER DID, I SAID , THE ASSIGNMENT SAYS, WILLIAM LONG AS ASSISITANT SECRETARY OF MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC. YOU DO KNOW , WHAT AS MEANS, AND OF MEANS , RIGHT. MR BELANGER, WE DO NOT DO ASSIGNMENTS OR PLACE ASSIGNMENT ON ANY PROPERTY. PERIOD. BUT I DO SEE YOUR ASSIGNMENT , AND THE COMPANY THAT DID THE ASSIGNMENT IS INDECOMM GLOBLE SERVICES, THEY DID UP THE ASSIGNMENT MR BELANGER NOT MERS, OR ANY COMPANY OF MERSCORP HOLDINGS. I HAVE TO GO NOW.

    SO THE NEXT QUESTION , I ASK MYSELF. HOW CAN A COMPANY
    THAT IS NOT REGISTER IN OUR STATE, JUST GO AHEAD AND PLACE A ASSIGNMENT ON MY PERSONAL PROPERTY? SO I SENT COMPLAINT TO REGISTRY OF DEED, THE ATTORNEY GENERAL, AND THE SECRETARY OF STATE, AND ASK THEM HOW THAT COULD BE DONE. THAT WAS 3 DAYS AGO AND STILL WAITING, , AS THIS FRAUD ASSIGNMENT BEING PLACED ON MY PERSONAL PROERTY HAS CAUSE ME,MY WIFE DAUGHTER, AND FATHER -IN LAW GREAT HARM. SO FAR IN THE AMOUNT OF 80 TO 100,000 DOLLARS. THAT I BELIEVE YOU AT THE REGISTRY OF DEEDS OWE ME, SO WHAT SHOULD WE DO ABOUT THAT, MR SECRETARY, AG,.

    CANT WAIT UNTIL MONDAY,

  4. Neidermeier/rhody- When f/c
    Papers were served to
    Me, an allomge fell out of the packet: the mortgage had been assigned from
    1 defunct entity to another defunct entity, with yet a 3rd defunct entity profeasimg
    Power of atty! Now there’s 3 of a kind that a full house won’t beat!
    We paid it off. Was Option One. Flipped to AHMSI, amd when they went under, on to SPS.

  5. I like it. a pre-emptive disgorgement case forcing OCWEN to cough up all payments and watch them fail at documentating their standing… to be followed by a wrongful foreclosure suit… makes sense to me…

  6. Does this mean in any way, homeowners could get damages if a servicer with a questionable alleged mortgagee forecloses a mortgage illegally?

  7. Conversion ..Convertible Promisarry Note to Bond ?
    Conversion …convertible Bond to Stock/Equity ?
    Court of Equity. ?

    Oh My…Cough it Up! Disgorgement.

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