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Rescission Insurance Offered By Radian

livinglies.wordpress.com | February 5, 2016

By Neil Garfield

THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

AND for those of you who continue to doubt what you see on these pages despite concurrence by all three branches of government, consider this: Since 2014 the banks have been purchasing rescission insurance. If they didn't think they had a problem, why would they buy the insurance?

The answer is simple --- what fund manager is going to buy alleged mortgage backed securities on loans that could disappear overnight? The bigger question will reveal itself: Like AIG in 2008-2009, there isn't enough money in the world to cover these policies; but they look good on paper.

In plain language I know that the attorneys for the banks are fully aware of the danger posed by rescission and the particular vulnerability the banks have for loans "originated" without funding (i.e., no consummation). Also known as "table-funded" which is "predatory per se" which SHOULD interfere with them getting the equitable relief of foreclosure (unclean hands, per se). And the conflict with state laws will also come front and center --- how can anyone enforce a note or mortgage for which there was no funding from any of the parties in their "chain.?"

If they admit or if it is revealed that there was no consummation of the loan contract, they don't need rescission insurance because there is no loan contract to cancel. BUT if they admit there was no loan consummation then nobody could have acquired it by definition.

AND if they stick by their story that the parties going into court are merely enforcing lawful rights, then they are stuck with rescission and no ability to dispute the rescission because they have nobody who fits the description of a creditor who could sue to vacate the rescission.

 

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Nancy Duffy McCarron, CBN 164780
Attorney, Real Estate Broker, BBB Arbitrator, CA Notary Public
Certified Forensic Loan Auditor, Property Manager

 

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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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