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MA Appellate Court Tells Chase They Can't Sit on Two Chairs With One Ass

by Neil Garfield | September 19, 2018

As Charles Marshall just quoted to me “it’s always refreshing when you find a judge who follows the law.”

Chase can’t say that the Trust owns the loan since 2006 and that the loan was owned by WAMU in 2008. It can’t be both. And it can only be one allegation that survives — the “first sale.”

The big question is when if ever is Chase, through its lawyers, going to try to prove that the “Trust” exists and now owns the debt, note and mortgage.

Chase knows that WAMU didn’t own the loan because they bankrolled the very same loan that is at issue. But they used OPM (Other People’s Money).

Chase also knows that the OPM nature of the transaction makes the investors the owner of the debt with equitable rights to the mortgage and note.

Chase knows that the trust was written but not created. Nothing was ever entrusted to a trustee to actively manage on behalf of beneficiaries. Investors are not beneficiaries if all they get is a promise from a nonexistent entity (the trust) and they have no right, title or interest to the “underlying loans.”

Chase knows that the so-called underlying loans does NOT include ownership of the debts.

Chase knows that there is no transaction in the history of the world in which the trust purchased any loans.

Chase knows that it never allowed the investor money into the trust.

Chase knows that the named trust has no power even to inquire into the affairs of the “trust.”

Chase knows that it using the trust name as an unregistered fictitious name whereby OPM is converted into Chase assets.

Chase doesn’t care. For the most part homeowners do not fight.

 

 

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