The conclusion is that US Bank “as trustee” is a sham entity. it does not exist.
The marketplace is flooded with false representations about the role of US Bank. This becomes abundantly clear when you are made privy to decisions made wherein sanctions were levied against US Bank. It underscores the basic premise that there is no formal loan, and hence that there is no creditor and there is no borrower — a very accurate but counter-intuitive conclusion.
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On U.S. Bank I have always had a problem with describing them as a national bank in this context.
While it IS a national bank, it specifically disclaims that it is acting on its own behalf and states that it appears strictly as Trustee for a putative trust. As such it is neither acting as an investment bank nor a commercial bank processing deposits or withdrawals. It COULD perform those services if US Bank received borrower payments on putative loans. But it doesn’t perform those tasks since the records produced in court are ALWAYS those of a third party who claims rights to “service” particular loans including the subject loan.
Further, upon information and belief, US Bank has no knowledge or involvement in the invocation of the name “US Bank.” It uniformly refuses to sign off on any settlement or modification of loans and uniformly avoids sending any employee or officer to any court proceeding involving foreclosure of residential putative loans where it is described as “trustee” of a “trust”.
In addition US Bank has no duties that it is required to perform and no duties that are required by any document or instrument, save the consent to use its name in foreclosure cases. The absence of any duties to perform as Trustee is equivalent to the absence of a Trustee — a basic requirement in the creation of a valid trust.
And the absence of any duties as Trustee is evidence of the absence of any res, another basic requirement for the creation of a trust.
The use of the name “US Bank” is an attempt at “layering” or “laddering” as it is defined in the financial industry, to create a shield from liability on the part of self-proclaimed “servicers” whose authority is entirely dependent upon (1) the existence of a valid trust and (2) the presence of a real trustee.
Thus US Bank is not performing nor required to perform any trustee duties; and the putative trust never entered into any transaction in which the Trust paid for assets. Nor have any third parties contributed assets (owned by such third parties) to the res of the Trust.