I am still in a foreclosure with LaSalle Bank as Trustee for Holder (unidentified) of Mortgage Backed Securities. The have refused to cooperate in any discovery.
OCWEN FSB is who assigned the note to them. The assignment was signed three months after the petition was filed. We do not have any judge Boyko in Oklahoma especially in Tulsa courts as of yet. We also had a third party fraud claim. Do not ask me what I think of MEDIATION when I can verify online all the mediators are tied to the Banks in the MEDIATION. I have spent hours reading 10K filings to find out who is the holder of the Mortgage Pass Through certificates. I have a suspicion but have not been allowed to see any documents in discovery. The following is a letter I would like you to consider putting online concerning the BAIL OUT.
In Oklahoma, Oklahoma State Courts Network (“OSCN”) records show thousands of foreclosures by Banks as “Trustee of Holder of Mortgage Pass-Through Certificates" which are Mortgage-Backed Securities. The Holder is not identified in most cases. Many of these Notes were assigned from the Bank servicing the note to the Trustee right before being cited for violations of servicing loans by the Office of Thrift Supervision.
My concern with the BAIL OUT and the government buying back the Mortgage-Backed Securities is; if I am still being foreclosed on then sold at auction, how will anyone, especially the party foreclosed on, know if the government has already bought back these Securities? In Oklahoma, as well as many other states, the laws permit the beneficiary of a Trust to remain hidden. In Oklahoma, all parties to a trust can not be cross-referenced, and the Foreclosure Mills refuse to identify the Holder of these Mortgage-Back Securities, who are who really gets the money when the home is sold at the foreclosure auction. The foreclosure mills quote Oklahoma Statute 12 Chapter 39 Section 1217(a) stating: “Trustee’s do not have to enjoin all parties in a legal action concerning real estate”. This is used as an excuse to hide who the holder of the Mortgage-Backed Security is. This appears to be a Trick by the Banks to cook the books and double-dip using deceptive state laws, who then scream: “BAIL ME OUT”, while they put the funds from the Trustee into a Hidden Account, since no one knows who the Holder is! When looking at 10K filings of many of these banks, the Bank’s parent Company purchased the Mortgaged-Backed Securities and the Bank assigned them to the Trustees for foreclosure purposes, knowing the Holder will not be identified. Then the Bank writes all the Mortgages off as bad debt but the Parent Corporation still gets paid. No wonder the CEO’s can walk away with $40 million-dollar parachutes. And Congress is going to go along with this scheme! This sounds a bit like the WorldCom and ENRON scams.
Also in Oklahoma, Banks can fix up a structurally-damaged foreclosed home without disclosing the reports detailing the repaired damage. Engineers say they cannot tell a prospective buyer if a home was fixed “correctly” without seeing the past reports showing how much damage occurred to the home. This is another trick that puts homeowners in jeopardy of future foreclosure, when 5 years later they cannot sell the home due to laws intended to deceive the buyer.
HUD sold millions of FHA MIP insured Notes that were taken in on the assignment program between 1995 and 1997 (the years when many of the “illegal” foreclosures began). The home buyer paid 1.5% of the loan at closing and a monthly fee for the FHA insurance. HUD sold those Notes at discounted rates to Lehman Brothers LLC (a corporation set up by OCWEN Financial and Lehman), OCWEN FSB, OCWEN Financial and Washington Mutual. They were to follow HUD regulations and guidelines when servicing the loans. It turned out those Regulations had NO TEETH. This was under a Republican controlled Congress that overrode any veto. This lack of oversight aided Bank corruption. In 1998, HUD and Congress BRAGGED about the huge profits made by the sale of those loans to what now appear to be Monster-sized Banks. One of those banks has a 150 multidistrict lawsuit filed by homeowners for mortgage-servicing violations. Every bank that is screaming “bail me out” is on Mortgage Servicing Fraud website’s Fraudster and Co-conspirator list.