Creating Foreclosure Defense Narrative: Three Brain Dumps from LendingLies

See TERA Explained and Using our TERA Report

If you don’t get our TERA report, you are most likely overlooking important parts of the defense narrative.

Get our TERA report. Then the CONSULT.    

Here is a typical piece of narrative in the TERA report:

“In the Trust Instrument (PSA) the Trustee and the parties identified as beneficiaries lack any power to conduct or ratify any transaction or, for that matter, to conduct any administration of any ongoing activity of the trust. This is a fair reading of the  trust provisions in the context of a REMIC pass-through facility. “

This nugget allows you to take on those decisions, especially in California that say that an Assignment that is void is really voidable because someone could ratify the acceptance of the assignment (thereby ruining the tax status of the “REMIC” Trust). Our report will show, where appropriate, that there is no person or group identified in the trust instrument who could have that power.

Then my Case Analysis or CONSULT closes the door and locks it. New York law (cited by most PSAs as the state of organization) says that if any act of the trustee (and that includes people who were “appointed” by the named trustee) is contrary to express provisions of the trust the act is void.

My Analysis  will show you the path toward traction in the courtroom. Many courts have invented new doctrine to contradict and thereby violate full faith and credit clause of the US Constitution. Under this nutty novel doctrine, void means voidable, which is because the act could be ratified.

That is true in actual trusts. But according to the PSA “pass-through” trust instrument there is no party or entity empowered to ratify anything. And there is a reason for that. The entire reason for writing down the PSA provisions was to qualify for REMIC treatment under the Internal Revenue Code. Allowing anyone to change that or to conduct a transaction outside the cutoff period would destroy the tax favored treatment afforded by the REMIC statute.

PLEASE FILL OUT AND SUBMIT OUR FREE REGISTRATION FORM WITHOUT ANY OBLIGATION. OUR PRIVACY POLICY IS THAT WE DON’T USE THE FORM EXCEPT TO SPEAK WITH YOU OR PERFORM WORK ORDERED BY YOU. THE INFORMATION ON THE FORMS IS NOT SOLD NOR LICENSED IN ANY MANNER, SHAPE OR FORM. NO EXCEPTIONS.

Then you also get to the facts about nearly all REMIC trusts. They were never in business, they own nothing and there is not even a bank account in the name of the identified trust.

So there is no trust, there are no trust beneficiaries and a close look at those “certificates” reveals a promise to pay by the identified trust that is NOT backed by notes and mortgages (i.e., the certificates, the PSA or both disclaim any such interest). So there are no beneficiaries. And THAT accounts for the missing Mortgage Loan Schedule (MLS) when the so-called trust was named by an aggregator as the owner of loans.

The MLS was not necessary except a fake one (disclosed as fake in the prospectus) to create the illusion of actual property rights being held by an actual managing trustee. With nothing held in trust there is no trust.

This and more available from us on www.lendinglies.com.

VIDEOS —

See TERA Explained and Using our TERA Report

 

2 Responses

  1. This blog entry says “New York law (cited by most PSAs as the state of organization) says that if any act of the trustee (and that includes people who were “appointed” by the named trustee) is contrary to express provisions of the trust the act is void.” No, it doesn’t.

    It did way back when Glaski first won at the court of appeal. The New York law then changed and held that late assignments of a loan to a trust (and other actions not specifically authorized in the PSA, by logic) were only “voidable.”

    As the New York laws under which the California Glaski decision were based, it is effectively no longer a good argument to say late assignment, therefore void transfer. Doesn’t work. Dog doesn’t hunt. Ship has sailed. Etc, etc., ad nauseum.

    Like

  2. So who is being paid off IF there is a payoff?

    Like

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