January 7, 2015
This may be of interest to you. See The Paper Chase - Securitization, Foreclosure, & the Uncertainty of Mortgage Title (PDF)
As you know if you have been in court on a foreclosure and used a securitization audit, the bank and court will say that you the “borrower” were not a party to the securitization therefore, you have no standing to bring up issues within the securitization audit.
This document seems to contradict that notion. Aren't Borrowers "major parties to the Transaction" ? see page 4
Also see the Comptroller Handbook for 1997 (PDF)
I do not know if there is a newer version of the Comptrollers Handbook that has more up to date information.
This is not Legal Advice, but for educational use only.
This is one more piece of support in any court case challenging securitization that the borrower has standing to sue in regard to the securitization transaction.
Add this to Glaski, etc. Highlights on pages 5 & 8.
Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager
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