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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More evidence the Notes were DESTROYED

WAMU SHREDDED THE ORIGINAL NOTES


DECLARATION OF MICHIKO STEHRENBERGER

"Various individuals representing JPMC, including JPMC phone reps, JPMC banking branch managers, and even a representative from JPMC's executive offices, had told me that all the missing Washington Mutual original paper loan documents, including the original paper Stehrenberger Promissory Note linked to the loan in dispute, had been “shredded,” and that JPMC did not actually have the original paper documents for any of the Washington Mutual
loans."

_____________________________ 

Naked short selling of American mortgages and the counterfeiting that resulted are responsible for the present threat to homeowner rights. Dematerialization (computer scanning of mortgage notes) and shredding of documents have stripped the banks of their security interest in the loans. All foreclosures need to end until the truth is told.

Counterfeit Fortunes for Criminal Fraudsters and the Wicked Switch of Wall Street

Petition Background

The DTCC allows and enables securities (the actual, paper documents) to become digitized to facilitate ease of trading; the process is called dematerialization.

"I personally destroyed thousands of mortgage documents through the same process using a desk-top scanner."

The banks have destroyed their ownership interest (security) in all the mortgages pre-dating the melt-down and beyond; the pink slip no longer exists.

The banks are involved in a systemic criminal theft-by-deception; they don't own the loans they are attempting to mine through foreclosure, refinance, modification, short-sale, deed-in-lieu and reverse mortgage; in each of these processes they are tricking borrowers into returning the signatures they destroyed, in some instances, decades ago.

___________________ 

In a 2000 Conversation with Freddie Mac, David Whitaker, assistant general counsel at Freddie Mac, said: 

"One thing that’s very important I want to point out to you is at the end of Section 6.4 you will notice that despite the fact that we contemplate that most documents that begin on paper might eventually end up being electronic, that we don’t mean it with respect to the written promissory note. If there is anything in the world clear under the UETA and ESIGN is that once a promissory note is executed on paper it stays on paper. And if you were to digitize it and then shred it there’s a very good chance you’ve forgiven the debt. So for heaven’s sakes whatever else we might do let’s not start talking about shredding paper promissory notes."

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TheEquitableOne
http://www.lrc.ky.gov/statutes/statute.aspx?id=33505

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Sharon
Finally the trust is coming out and it doesn't look good for the banks. 
Sharon
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MSF Fan
It seems if the original notes were destroyed then the borrowers upon payoff could demand a refund or sue the lender=note holder for a breach of the mortgage contract which says on mortgage form 3019 11/96 under UNIFORM COVENANTS :

Borrower and Lender Covenant AGREE AS FOLLOWS:

Paragraph 22:
Cancellation. Upon payment of all sums secured by this Security Instrument, Lender shall deliver to Borrower THE ORIGINAL NOTE for submission to the Clerk of Court for the purpose of cancelling this Security Instrument. Borrower shall pay the cancellation cost.

The servicers transfer letter says:The transfer of the servicing of your account DOES NOT AFFECT ANY TERM OR CONDITION OF YOUR FINANCING AGREEMENT Etc....

The delivery of the original promissory note upon payoff is a term of the agreement under Uniform Covenants (I.E. A lawful binding agreement under contract law) and nowhere does it say in the agreement that if the original promissory is lost or destroyed shall a copy be delivered to the borrower upon payoff.If the note holder cannot deliver to the borrower the original promissory note as the covenant/contract/agreement says then there is a breach of the covenant/contract/agreement on the note holders part and they have been collecting on breached contracts and should have to pay the borrower every payment the borrower has made along with the interest and a refund on every payment for home-owners insurance. Its time the borrower holds the banks/note holders to the agreement because they default borrowers when many are not in default and they are lawless criminals.

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k3m16

More evidence the Notes were DESTROYED

Anybody know if this happened when Wells took over Wachovia's mortgage loans ?

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Mike H

      I have examined hundreds of mortgage foreclosure files and in about 90% of them, the Note

presented is a color copy, not the blue ink original.

      When I examine the original loan transaction, in most cases the appraisal was inflated and

no one in their right mind would make such loans.

      The only possible explanation is that the lenders made their money by "selling the paper"

multiple times to gullible investors (mainly pension funds). The original Notes were destroyed to

hide the crime of counterfeiting. A case in point was Lee Farkas and Taylor,Bean Whitacre where

the Feds caught him red handed selling counterfeit Notes, multiple times to Colonial Bank. Colonial

would then package them and sell them on Wall Street in the Mortgage backed Securities.

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MSF Fan
Thanks for that post Mike H.

Upon payoff of a mortgage how does one tell if their so-called original promissory note is not the original blue ink delivered to them?

Thanks again.
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Mike H
Answer: Test it for blue ink, feel for ridge marks on the reverse of the signed page and examine it under a microscope. Blue ink "smudges"
            in both saliva and an original yellow magic marker, a photocopy will not smudge. When you look at it under a microscope a photo
            copy has lots of dots whereas blue ink soaks the paper fibers.
     
            Practice doing it and you will have no trouble distinquishing a "color copy" from the original "blue ink" specimen.

            Place a stack of papers on the table and sign your name on the top page in blue ink. Then take that page and make a
            color copy. Feel for the ridge marks on the original: they are easy to feel. They are not there on the color copy.

           Get an "original magic marker" test it. the original "smudges" the color copy does not. Then look at the two under a
           microscope. Voila, you are now a "forensic expert". good luck with your new carreer!
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