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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I am being sued by Wells Fargo As Trustee. My note and mortgage were assigned to the trust more than a year after the trust's closing date. The mortgage was in default at the time of assignment.

It is my understanding that trusts cannot accept assets after the closing date of the trust. Also, can non-performing assets cannot be assigned to trusts? Can anyone help me with citations to decisions that address the issue?

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Bill

Michael wrote:
I am being sued by Wells Fargo As Trustee. My note and mortgage were assigned to the trust more than a year after the trust's closing date. The mortgage was in default at the time of assignment.

It is my understanding that trusts cannot accept assets after the closing date of the trust. Also, can non-performing assets cannot be assigned to trusts? Can anyone help me with citations to decisions that address the issue?

I'm not an attorney and this is not legal advice.

You haven't provided enough information about the trust and your situation for anyone to even begin to give you statutes or cases that may apply to your claims. 

I think you are making assertions that show a misunderstanding of trusts and the law. 

1.  What state are you in? 

2.  Is it judicial or non-judicial?

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My note and mortgage were assigned to the trust more than a year after the trust's closing date

Notes are not assigned, they are negotiated by endorsement and delivery.  This is usually not recorded in public records. 

3.  How do you know when the note was negotiated to the trust? 

4.  When was the MORTGAGE assigned?

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It is my understanding that trusts cannot accept assets after the closing date of the trust. Also, can non-performing assets cannot be assigned to trusts?


Could you post some more information on how you came to this understanding?  Many people feel because the PSA set forth certain requirements that these can be used as a defense in foreclosure.  This has not been the case.  The PSA is a contract that you are not a party to.  A quick search of the cases in your jurisdiction will re veil that a third party has no right to enforce or complain about a contract they are not privy to.  There are several threads here that address the NEGATIVE impact of attempting to introduce the PSA into evidence. 

While you really need to seek out a competent attorney, if you post some more information, some forum participants may be able to point you in the right direction. 

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In response to your numbered inquiries:

1. Florida
2. Judicial
3. I know the date because the assignment of mortgage bears a date that is more than a year after the trust's closing date.
4. Note and Mortgage were assigned contemporaneously.

Can you cite any authority that bears upon these issues?
Thanks in advance.

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Bill

Michael wrote:
In response to your numbered inquiries:

1. Florida
2. Judicial
3. I know the date because the assignment of mortgage bears a date that is more than a year after the trust's closing date.
4. Note and Mortgage were assigned contemporaneously.

Can you cite any authority that bears upon these issues?
Thanks in advance.


I'm not an attorney and this shouldn't be considered legal advice.

You are fortunate to live in a state with MANY good foreclosure defense lawyers.  If you can afford one, I'd try to find SOME way, even a payment arrangement to retain an attorney.  Pro Se is very difficult.  You are trying to argue a position that has NOT been successful in FL.  You are attempting to attack the agreements of the trust.  As I posted before you are not a party to the agreements (PSA).  It seems you would be far more successful using more proven defenses.  Things like Standing, Capacity, Conditions Precedent, all have a proven track record of success.    Here is a good place to start:

http://gingolaw.com/default.aspx

Mr. Gingo is an excellent attorney with a good track record.  He provides free samples of pleadings for Pro Se litigants on this page.  These are a good guide to start with.  They provide the statutes as well as case law.  You would have to tailor these to fit your case. 


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Thank you for the assistance. The cases cited at the links are helpful.
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