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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In response to a qwr the servicer stated Fannie Mae was the owner of note which has no endorsements. How can Fannie Mae be the purchaser at a Notice of Trustee Sale. No one has filed a new deed of trust it has been over a year.

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Andy

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In response to a qwr the servicer stated Fannie Mae was the owner of note which has no endorsements. How can Fannie Mae be the purchaser at a Notice of Trustee Sale. No one has filed a new deed of trust it has been over a year.
 

Your mention of a purchase at a private trustee sale seems to indicate that the private sale is already completed, possibly more than a year ago.  Your post is vague as to whether you remain in possession of the property.

 

After the completion of a non-judicial foreclosure by private sale, usually the mortgage investor, the mortgage investor's servicer and/or a guarantor or insurer (HUD, VA, private mortgage insurer) purchases the property using a credit bid.  A foreclosed property is then considered to be "Real Estate Owned" (REO).

 

Anyone, including the purported mortgage investor and/or holder of the note, can purchase at a private sale.  There is nothing that would preclude an entity claiming ownership from bidding and purchasing.

 

If you are in a non-judicial foreclosure state and the foreclosure sale is already completed, the fact that you have a copy of the note lacking endorsements is probably of little significance.

 

Usually, the foreclosed REO property cannot be sold to a third party until the purchaser gains physical possession of the property, usually through some sort of unlawful detainer/ejectment/eviction action.

 

If you are still in the property, then the primary reason it hasn't been sold is probably because you remain in possession.  Generally, the mortgage investor wants to sell REO property as quickly as practicable, but if the investor has a large inventory of unsold property in a particular community, it may elect to hold some properties off the market to await improved market conditions.

 

When the REO property is eventually sold, the purchaser at the private sale (grantee of the substitute trustee's deed) with execute a new special warranty deed to the buyer.  Most purchasers of residential real estate intending to occupy the property would tend to finance this purchase and in non-judicial foreclosure states would give in return a deed of trust to secure their note.

 

The ultimate buyer of the property, not the seller, would be the grantor of the new deed of trust.  In most places, the seller, as indicated above, would usually convey using a special warranty deed.

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