June 9, 2016
This comes as not surprise and I have to imagine anyone who has been dealing with foreclosure issues has to know this.
The difference.....now it's confirmed!
Read this document (PDF).
I remember back around 2008 when I first started digging around into the mortgage fraud arena, I ran into these alphabet soup Plaintiffs, including on my own home, and I could never get to the bottom of it. I actually called the Trustee's office listed on the PSA (Pooling and Servicing Agreement), the bank, the servicer, and got nowhere. No one was doing audits and getting the info was next to impossible.
Well, as time went on and more and more information became available, the true owners of the mortgage could not be pinpointed and guess what? They still can't!
The foreclosure arena has evolved over the years and the courts (some) have made some great decisions while the majority still protect the banks they still cannot get around discovery and that's how you get your questions answers.
For instance, the Dodd Frank Act provides that if a foreclosure has already been filed,and it is more than 37 days before a foreclosure sale, and the borrower submits a complete loss mitigation application, a servicer cannot “move for a foreclosure judgment including motions like a motion for default, judgment on the pleadings, summary judgment, order of sale, or conduct a foreclosure sale.
Additionally, in 2009, Congress passed legislation that included Title 15 United States Code section 1641 (g) requiring that after May 20, 2009 “In addition to other disclosures required by this subchapter, not later than 30 days after the date on which a mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of such transfer, including:
(A) the identity, address, telephone number of the new creditor;
(B) the date of transfer;
(C) how to reach an agent or party having authority to act on behalf of the new creditor;
(D) the location of the place where transfer of ownership of the debt is recorded; and
(E) any other relevant information regarding the new creditor.”
Do you think this could help you?
Your success depend on your actions and successful people are not reactionary people!
They always plan ahead!
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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).
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