Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

SCAM: US Bank as Successor to Bank of America as Successor to LaSalle Bank as Trustee On Behalf of Holders of Certificates - It’s a Lie

livinglies.me | November 11, 2019

As soon as you start believing the words and labels the banks are using you are doomed to making admissions against interest that will reinforce the court bias in favor of the bank. The truth is that the entire thing is a lie. And it’s not even an effort to get the debt repaid; it’s an effort to get revenue. Nobody should lose their home simply because somebody has an expectation of profit. Foreclosure laws are strictly limited to collection of unpaid debt, not commercial ventures to make a profit.

I just had an exchange with a client who was requesting my input on a document bearing the label “Substitution Of Trustee.” As usual the label is a lie but if not challenged it directly leads to assumptions that are very damaging to the interests of the homeowner. I remind the reader that you should not believe one word of anything that the homeowner has received or that has been stated in cases where there are direct or implied claims of securitization.

And I also want to make this point: the ability of the schemers to put their own labels on the movement of money does not make real. So if they sell all attributes of the debt and label the transactions as if there was no sale of the debt, multiple times, that does not mean the debt has not been sold.

Lastly I want to remind you to challenge the securitization strategy. As soon as the assignment is recorded, or the notice of substitution of trustee is recorded you should object, file complaints and seek to have the documents expunged or canceled. They contain false utterances, they are part of a fraudulent scheme, and there might actually be a claim for damages for slander of title. The purpose of such filings is to interfere with your ability to refinance the loan with a real lender who might demand proof that they are paying off a party who owns the debt by reason of having paid for it.

So here is what I wrote to my client with some deletions as to identity.

  • Starting with the first document called “full reconveyance” dated April 12, 2007, it appears to be a document without any legal effect. It is worded something like a quitclaim deed. It basically says that TD Service conveys “the estate held hereunder.” This could be, as per the title a reconveyance of the title back to XXXXX. But it does not expressly say so. It also refers to a request to convey without warranty to “the persons legally entitled” which does not identify anyone.
  • As for the Substitution of Trustee, it is, as I have already stated a void document. The Appointment of Clear Recon Corp. is void (not voidable). There are several reasons for this.
  • US Bank asserts the position of being a successor trustee to Bank of America. I don’t think that statement is true because it is not a “successor” to Bank of America.
  • Be very careful of misleading labels used by attorneys for parties in securitization; they are almost always misleading or fraudulent.
    • Bank of America was indeed a qualified successor in interest to LASalle Bank who was the REMIC Trustee because of a merger.
      • But for US Bank to be the trustee, under the terms of the actual Trust Agreement, it would be required to be a successor by merger or acquisition which it is not.
      • The only way such a statement would be true is if the position of trustee was a commodity that can be bought and sold. I don’t think it can but this has not been tested in the courts.
  • Keep in mind that if you are able to force production of the actual trust agreement you will find that the “beneficiary” of the trust is the investment bank and NOT the investors or holders of certificates. You will also find that the trust, if it exists at all serves only one purpose — to hold “bare legal title” to certain documents including deeds of trusts and mortgages. In other words the trust agreement makes the trust exactly the same as MERS, except that the trust might not even exist in the real world.
  • In any event my prior comments stand, to wit: the named trust either does not exist at all or even if it does somehow exist with some basis of claiming that anything is entrusted to LASalle Bank, your loan was never entrusted to LaSalle Bank because your debt was never acquired by either LaSalle Bank nor any other representative of the named trust.
    • Your challenge would be for the opposition to provide the dates and parties to any transaction in which anyone ever paid value for your debt as per the requirements of Article 9 §203 of the UCC as adopted by state statute.
      They can’t do it because the debt was funded by an investment bank using investor money.
      • The investors never received title to the debt.
      • The two elements of ownership of the debt and valid conveyance of the mortgage are the conveyance (assignment) and payment for the debt.
      • If the claim is that the trust is not the owner of the debt and is acting in a representative capacity then the identity of the principal must be disclosed.
  • As previously stated, the actual moniker of this assemblage of words is that US Bank appears on behalf of the holders of certificates.
      • The certificates are of course not identified and neither are the holders. There is a good reason for that.
      • The certificates do not bear an indenture that conveys any right, title or interest to the deed trust or mortgage. So the holders have no standing which means that if US Bank is appearing on behalf of the holders of bonds issued in the name of the trust, US Bank lacks standing simply because it is appearing in a representative capacity for investors who have no right to inquire much less enforce the debt, note or mortgage.

 

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

 

Back to November 2019 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-CFLA (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 at 888-758-CFLA (2352)

 

 

 

 

 

 

 

 

Bookmark and Share

spacer

Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin

 

BBB Logo

 

spacer

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

 

 

 

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

 

The True News Network

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Foreclosure Defense LLC

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2017 Certified Forensic Loan Auditors ™ All rights reserved