Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Michael
http://www.scribd.com/doc/43799986/ASF-White-Paper-11-16-10-Transfer-and-Assignment-of-Residential-Mortgage-Loans-in-the-Secondary-Mortgage-Market

This document is chock-full of information that takes the defendant to school (as Mr. Roper puts it). Easy read, except for the usual sometimes-confusing discussions of the UCC. But, even these discussions are clearer than most I've read.

Be sure to read footnote 4 on page 4. It contains  excellent points about conditions precedent, a defense which Mr. Roper says could be a better defense than lack of standing. Lack of standing puts the parties out of court because of no court jurisdiction, mostly resulting in dismissal without prejudice (a do over is sure to come). A conditions precedent failure could stop the case cold, as it requires a decision about material facts. If I have this wrong, I'm sure someone will correct me, and I welcome that correction.

This white paper mentions, but does not elaborate, an intriguing element of the conditions precedent: the mortgagee of record may be required to send a payoff statement within a time limit. MERS and any lender of record, would be unable to do that. I am not sure how one could know if a payoff statement is required of the mortgagee of record, but maybe that's stated in the individual mortgage terms. Mr. Roper or someone else might want to elaborate. 

Thank you, Mr. Roper for bringing up the conditions precedent issue. I believe it needs far more exploration.

By the way, Mr. Roper and others, please stop feeding the trolls, we need and appreciate your time and energy for more helpful things. While it is good to out snakes found lurking on this site, once is enough. We get it. Forget the REST reports and forget Mike H.

Such flaming at the top of the Forums page hides the credibility of this excellent site. One post has run to 150+ replies, which got off topic quickly. Other posts are following suit. The flaming exchanges have gone too far. I can imagine what some newcomers would think. It could keep them from staying long enough to learn about the excellent information MSF offers to help them defend the title of their home.

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Andre
American Securitization Forum = the securitization industry

You are reading propaganda spread during a time that they were being attacked on all fronts. This "white paper" was much maligned and as you can read in the commentary provided below is full of holes highlighted by testimony of some bank personnel via their depositions.

It is a good paper stating how the banks are trying to explain away their standing and ownership via their interpretations of UCC. Keep thus in mind.


http://www.nakedcapitalism.com/2010/12/american-securitization-forum-tells-monstrous-whoppers-in-senate-testimony-on-mortgage-mess.html

http://www.americansecuritization.com/uploadedFiles/ASF_Comments_on_Ability_to_Repay_QM_Proposed_Rule_7_22_11.pdf
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Michael
Andre said:

It is a good paper stating how the banks are trying to explain away their standing and ownership via their interpretations of UCC. Keep thus in mind.


This was my point exactly. Sometimes it helps to know what the banks or servicers are trained to think or are misinterpreting and touting as fact.

In my view, reading this paper is akin to eavesdropping on the plaintiffs' conference calls.

Of course, the paper has holes, some of which the courts are now plugging; but it might help in some states, where judges are not yet getting it, to know what to expect. This is what I meant by taking the defendant to school, as in the comparison to Mr. Roper repeatedly telling defendants not to give away their strategy, lest they take the servicer to school.
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