Certified Forensic Loan Auditors, LLC

  Upcoming Classes

Search CFLA's Article Archive:

Did you Refinance? The Trust must sign the Release of Mortgage - not the Servicer

livinglies.wordpress.com | June 15, 2016

By Neil Garfield

Shout out to LivingLies reader Rich Caires.

If you have refinanced your property over the past ten years, you may want to research who signed the the loan release. Only the true creditor, not a servicer, can sign the release. The presumption that most homeowners, attorneys and judges make is that the property was paid off in full, the funds were provided to the trust, and the servicing rights were extinguished. When it comes to anything having to do with financing, assignments, mortgages, or title- no presumptions should ever be made. Question and challenge everything.

In a comment left on Livinglies, a reader pointed out that after he refinanced his property, he began researching releases on his property and other properties, and discovered that the same person was signing all of the releases. The WAMU signer was a known robosigner named Jocelyn Tate, a Lien Release Assistant Secretary from Duval County, Florida. However, her signature on all the releases was vastly different (the release documents were also notarized by Miriam E. Hapner Commission: DD385383 Expiring 10-24-2008).

The poster stated he had a forensic analysis done on his original note that was supposed to have been paid off by the new WAMU loan that was securitized through WAMU Pass Through Certificate Series 2007-OA1 with LaSalle as Trustee. The forensic analysis showed that the prior mortgage was never assigned to the TRUST. Therefore, who did the refinance pay off if the trust did not own the Note?

Other red flags were raised. The "release" came from “Washington Mutual Bank, FA, last assigned Mortgagee and holder of a certain mortgage", when the release should have come from the original Trust not WAMU. Requests for the return of the original Note (to remove it from commerce) were not honored. The whereabouts of the original Note are unknown and cause concern for the homeowner that the Note is still floating around somewhere and could cause him future problems if the true creditor makes future payment demands on the Note. Although it is likely that the original Note was destroyed and never delivered to any trust- this is not the way the delivery, transfer and satisfaction of a Note is to occur under current law.

It is probable, based on the information provided that the Note was never paid off (there was no trust to pay off), and the proceeds from the refinance that were detailed in the HUD settlement statement were stolen by the pretend lender. Since the party on the prior “mortgage” and “note” was simply a conduit, they would not have received a penny from the new closing with the “borrower.” The reason for this is simple: they never had a dime of their own money in the loan nor were they in a contractual relationship with anyone who did have money in the deal.

A fraudulent refinance has several critical legal issues that should be addressed: (1) a satisfaction of mortgage from a non-mortgagee and (2) no consideration for the signing of the loan documents and (3) withholding that information from the "borrower" who in fact borrowed no money from the "refinance" of his prior "loan." This means that the loan documents should never have been signed or delivered much less recorded. It also means that the current loan documents (and possibly the previous loan documents) are VOID and thus subject to an action for a Quiet Title action.

Nothing is as it appears when it comes to Big Banks with an agenda.




Order Cutting-Edge Services Now   Quiet Title Packages from Licensed Attorneys
CFLA Sponsored Attorney Links   CFLA Training Academy



Back to June 2016 Archive


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).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
BBB Logo



Contact us or view our Sample Documents & Audits by completing the form below.

International Bloomberg Securitization Audits


DVD Sets Only $99


FREE Mortgage Fraud Analysis


Order Cutting-Edge Services Now


Quiet Title Packages from Licensed Attorneys


Affiliate Services


CFLA Sponsored Attorney Links


Take-Home Education Package