The second question of course, how could our banks have such utter disregard for basic property law, be so stupid, careless or both. They are basically committing fraud here, since they are swearing to the court to facts which are not true.
http://www.nakedcapitalism.com/2011/01/us-trustee-sides-with-borrowers-in-foreclosures-with-questionable-assignments-mers.html
With Respect to BAC, there is no document in the record that either the note or mortgage were assigned to BAC. The assignment attached to the proof of claim, shows a transfer of the rights of the mortgage to Countrywide. There is nothing to indicate that the Note was assigned. If BAC is not the holder of the note there is no basis of the claim. As such BAC is not a creditor
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Response by Riversider
over 15 years ago
Posts: 13573
Member since: Apr 2009
The second response on the GMAC case is even more pointed:
Based on the documents in the record, neither GMAC nor Deutsche Bank have demonstrated that they have standing to file the proof of claim or to object to confirmation. Moreover, the assignment of mortgage relied on by GMAC and attached to the proof of claim was signed by
Elpiniki M. Bechakas, as “Assistant Secretary and Vice President” of the Mortgage Electronic Registration Systems, Inc. (“MERS”) on behalf of the original mortgagee, Homecoming Financial
Network, LLC.
Undisclosed to the Court by GMAC or its attorneys Steven J. Baum, P.C. (the “Baum Firm”)
is the fact that Ms. Bechakas is also an attorney with the Baum Firm. It appears that the Baum Firm
represents the assignee (GMAC) and that one of the Baum Firm’s attorneys is an officer of the
assignor (MERS).
Ignored comment.
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Response by rb345
over 15 years ago
Posts: 1273
Member since: Jun 2009
Riversider:
BAC owns Countrywide. Bankruptcy courts operate according to principles of equity, see Pepper v.
Litton, ___ U.S. ___. The lack of a formal assignment is not material to the legitimacy of BAC's
claim, because it does in fact and in law own that claim.
What you're looking at is ordinary bank negligence, which was common in the late 1980's when banks
I did business with frequently lost the coop stock certificates and proprietary leases assigned to
them as collateral, compensated for with fraud, some designed to compensate for the lacl of records
and documents, some engaged in just to expedite the foreclosure process.
Filing a false instrument with a court is a crime. Filing with intent to unlawfully obtain money or
property from another person is larceny, and in the REO context, felony larceny because of the
amounts involved. Knowing participation by attorneys justifies suspension or disbarment.
What America needs are prosecutirs willing to vindicate the public interest in the fair and honest
administration of justice by aggressively pursuing provable criminal activity.
The second response on the GMAC case is even more pointed:
Based on the documents in the record, neither GMAC nor Deutsche Bank have demonstrated that they have standing to file the proof of claim or to object to confirmation. Moreover, the assignment of mortgage relied on by GMAC and attached to the proof of claim was signed by
Elpiniki M. Bechakas, as “Assistant Secretary and Vice President” of the Mortgage Electronic Registration Systems, Inc. (“MERS”) on behalf of the original mortgagee, Homecoming Financial
Network, LLC.
Undisclosed to the Court by GMAC or its attorneys Steven J. Baum, P.C. (the “Baum Firm”)
is the fact that Ms. Bechakas is also an attorney with the Baum Firm. It appears that the Baum Firm
represents the assignee (GMAC) and that one of the Baum Firm’s attorneys is an officer of the
assignor (MERS).
Riversider:
BAC owns Countrywide. Bankruptcy courts operate according to principles of equity, see Pepper v.
Litton, ___ U.S. ___. The lack of a formal assignment is not material to the legitimacy of BAC's
claim, because it does in fact and in law own that claim.
What you're looking at is ordinary bank negligence, which was common in the late 1980's when banks
I did business with frequently lost the coop stock certificates and proprietary leases assigned to
them as collateral, compensated for with fraud, some designed to compensate for the lacl of records
and documents, some engaged in just to expedite the foreclosure process.
Filing a false instrument with a court is a crime. Filing with intent to unlawfully obtain money or
property from another person is larceny, and in the REO context, felony larceny because of the
amounts involved. Knowing participation by attorneys justifies suspension or disbarment.
What America needs are prosecutirs willing to vindicate the public interest in the fair and honest
administration of justice by aggressively pursuing provable criminal activity.