FAC ¶ 12. Plaintiffs provide significant detail regarding the process through which
WaMu allegedly sold their loan. See id. ¶¶ 12-19.
"This decision finally brings the real issue to the forefront: who, if anyone, actually has the legal status of creditor or the right to claim ownership of the debt, loan, note or mortgage? In this case the Court correctly centered on the real issue: if WAMU had ALREADY sold the loan before it "sold" the loan to a trust or anyone else, then the entire chain is not just defective, or corrupted, it is void. And then you have quiet title, wrongful foreclosure and probably RICO although that does not seem to be in the pleadings for this case." Neil Garfield, Living Lies
WAMU irrevocably sold all right, title and interest in Plaintiffs' mortgage loan, for value received, to the JPMorgan Mortgage Trust 2008-R2 Mortgage Pass-through Certificates Series 2008-R2 ("JPMMT 2008-R2"), a private label mortgage-backed securities trust with a Real Estate Mortgage Investment Conduit election and continuing qualification.
“In a filing in New York’s Southern District in WhiteAnd remember how Linda DeMartini of Countrywide/Bank of America testified in Kemp v. Countrywide
Plains for a local homeowner in bankruptcy, attorney Linda Tirelli
described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual
created November 9, 2011 and updated February 24, 2012. According to
court papers, the Manual details ‘a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.’”
a) DeMartini Testimony TranscriptRemember also that Linda Tirelli suggested that it’s not just Wells
In the case of Kemp v. Countrywide
(BK case from New Jersey, 2010) a Bank of America/Countrywide employee
named Linda DeMartini testified to two important points: 1) she had “never seen an actual note that has an endorsement on the bottom,” and 2) to her knowledge, the only time endorsements were prepared was when they were needed for litigation purposes (this was fleshed out under questioning from the judge). By the time of her testimony in Kemp, DeMartini
had worked for Bank of America/Countrywide for 10 years and at the time
of her testimony, she worked in the litigation department at Bank of
America as an operational team leader (according to her testimony, she
had been in that position for approximately a year). So
DeMartini was clearly competent to testify to the matters to which she
testified, and even Bank of America must have thought so as they flew
her from California to New Jersey to testify in the Kemp case.
“This is business as usual for all the big banks,”And let’s not forget the tale of Lorraine Brown of DocX, convicted of participating in the manufacture/falsification of more than 1 million mortgage documents, which LRM covered here:
Tirelli said, referring to the manufacture of mortgage documents out of
whole cloth in order to establish legal standing to foreclose on homes.
According to the New York Times, Brown “admitted to participating in the falsification of more than a million documents.” Yes, you read that right–she participated in the falsification of more than one million documents. And these documents were produced at the behest of banks that hired Brown and her company to produce admittedly false documents that were then filed in county land records all over the country and used as evidence in court cases.Let’s also not forget about Elizabeth Warren’s questioning of the
“Sen. Warren: All right, so let me ask it from the other point of view. You now have evidence in your files of illegal activity, I take it, for some of these banks. I get that from the evidence you’ve released about the charts, who’s going to get paid what, so ifAnd lastly, let’s not forget the wording of the consent orders
someone believes that they have been illegally foreclosed against, will
they still have a right under this settlement to bring a lawsuit
against the bank?
Mr. Stipano, OCC: Yes.
“…[Bank of America] litigated foreclosure proceedings and initiated non-judicial foreclosure proceedings without always ensuring that either the promissory note or the mortgage document were properly endorsed or assigned and, if necessary, in the possession of the appropriate party at the appropriate time.”Just setting the stage here–checking out the ghosts of Christmas