Fannie And Freddie HAVE NO NOTES EITHER?

[Ares]

You have to be kidding me.....

The Federal Housing Finance Agency, which in July issued 64 subpoenas to issuers of mortgage securities, bank servicing companies and other entities, is working with Quinn Emanuel Urquhart & Sullivan LLP, a Los Angeles-based firm that specializes in business litigation, to coordinate its investigations.

Subpoenas..... why do you need to subpoena something you are supposed to already have - specifically, the original "wet signature" note, endorsed over and through to you for inclusion in the pools?

"There's going to be much more incentive to negotiate seriously and quickly than if they had done this seven months ago, when people were blithely ignoring the fraud," says William K. Black, a former federal bank regulator who is now an associate professor at the University of Missouri-Kansas City School of Law.

Oh darn, there's that "F" word again.

Which fraud are we referring to this time? Are we referring to tendering garbage loans in violation of representations and warranties (on purpose) or the larger issue - not tendering the notes at all, leaving MBS investors holding an empty box, a REMIC structure that cannot take in the paper later, and nobody with actual legal standing to foreclose?

The mortgage giants are sorting through their growing pile of delinquent loans to find sloppy or fraudulent loan underwriting that constitutes a violation of representations and warranties.

Oh, the former.

Still no comment on the latter issue, even though, once again, if you listen to the second link here at 8:25 in, you will hear two foreclosure defense lawyers tell you that they have never seen an actual properly-conveyed note.

Again - where is the damn paperwork that under State Law in about half the states, you must possess complete with all intervening endorsements, in order have an actual security interest in the property - that is, the right to foreclose?

http://market-ticker.org/akcs-www?post=169840

[General of Darkness]

All your notes are belong to us? :dunno

[Filthy Keynes]

All your notes are belong to us? :dunno


+1000000

[Neuro]

This is just incredible, the scale of the overall negligence is just monumental and breath taking. In reality they have just given millions of people trillions of dollar, and they have lost all the legal paperwork. Seams like a debt jubilee to me...

[Spectrism]

I checked... Fannie claims to hold my note.

The registration past Countrywide never happened. This is tax evasion. They did not register (and pay the fees) any chain of custody for the note. So, since Countrywide disposed of the note and I have no chain of traceability, I will need to file against BoA who is "servicing" the note.

[RobinsNest]

I checked... Fannie claims to hold my note.

The registration past Countrywide never happened. This is tax evasion. They did not register (and pay the fees) any chain of custody for the note. So, since Countrywide disposed of the note and I have no chain of traceability, I will need to file against BoA who is "servicing" the note.


Fannie claims to have my note as well, but no record of the originating credit union ever transferring it to them as they say they did. Not listed in MERS (is their list complete?), no registration or transfer to Fannie, did Fannie securitize it and sell it overseas? Who the hell knows? There's no paper trail to follow. For all I know, I've been sending mortgage payemnts to Bin Laden for the past several years.

[chad]

all your notes are belong to china.

[Cebu_4_2]

Fannie claims mine too from cuntrywide/BOA/?

no transfer through the county, tax evasion is correct.

My attorney says we will get all them payments back also, guess he wants to get paid LOL.

[optionT]

How do you find that info out, from mers?

[Jazkal]

I checked... Fannie claims to hold my note.

Where do you check for that?



The registration past Countrywide never happened.

How did you find this out?



I will need to file against BoA who is "servicing" the note.

What kind of action would you be filing?



My attorney says we will get all them payments back also, guess he wants to get paid LOL.

What type of legal action is he going to file? What state are you in, if You don't mind me asking?

[Cebu_4_2]

I checked... Fannie claims to hold my note.

Where do you check for that?



The registration past Countrywide never happened.

How did you find this out?



I will need to file against BoA who is "servicing" the note.

What kind of action would you be filing?



My attorney says we will get all them payments back also, guess he wants to get paid LOL.

What type of legal action is he going to file? What state are you in, if You don't mind me asking?


homework time, took me almost 4 months to figure things out. Go to the county to see who owns the deed. Check with fannie/freddie enter your address and it should give something. MERS is just fvcked but should tell if it has any clue.

You do not want any attorney you need a consumer advocate, someone that is not in the judges pocket.

[Spectrism]

I checked... Fannie claims to hold my note.

Where do you check for that?



The registration past Countrywide never happened.

How did you find this out?



I will need to file against BoA who is "servicing" the note.

What kind of action would you be filing?



My attorney says we will get all them payments back also, guess he wants to get paid LOL.

What type of legal action is he going to file? What state are you in, if You don't mind me asking?


Some links-
http://www.fanniemae.com/loanlookup/
https://www.mers-servicerid.org/sis/
https://ww3.freddiemac.com/corporate/

In CT deeds are recorded in the town hall. I searched my records. Nothing past Countrywide. The original note may have been destroyed. I need to draft up some communications as soon as I tie together the legal and verifiable techniques.

[basplaer]

I have a MERS identification number...haha on me! A quick check at freddy and fanny indicate that neither own my VA mortgage that I got 9 years ago. The county recorder only has the original deed of trust recorded in 2001. Wells Fago is the 3rd servicer that I've paid over the course of the mortgage to date. So if I understand this correctly, WF has 60 days to respond to my "qualified written request" of who owns the note. Are they required to actually furnish this info or only respond?

Assuming they provide name(s) then how do I verify a clean unbroken chain of title?

[Gaillo]

God, I'm loving reading this thread!
The banks are going to take it up the butt on this whole mess... couldn't have happened to a "nicer" bunch! ;D

[Spectrism]

I have a MERS identification number...haha on me! A quick check at freddy and fanny indicate that neither own my VA mortgage that I got 9 years ago. The county recorder only has the original deed of trust recorded in 2001. Wells Fago is the 3rd servicer that I've paid over the course of the mortgage to date. So if I understand this correctly, WF has 60 days to respond to my "qualified written request" of who owns the note. Are they required to actually furnish this info or only respond?

Assuming they provide name(s) then how do I verify a clean unbroken chain of title?


When I did this with BoA, they acted like they never heard of a "mortgage note". They said they would provide me a mortgage verification. They sent me a statement of billing!!! I laughed at them over the phone and told them that was NO verification. I said I could write up a Word.doc and send the exact same thing to all my neighbors and tell them that they could start making payments to me. Then they went silent.

I think I will offer to pay off the mortgage- something they cannot refuse... and I will require the return of my wet-ink note at the closing. If they produce the note, I refinance with my local bank. If not, I sue for quiet title.

[basplaer]

I have a MERS identification number...haha on me! A quick check at freddy and fanny indicate that neither own my VA mortgage that I got 9 years ago. The county recorder only has the original deed of trust recorded in 2001. Wells Fago is the 3rd servicer that I've paid over the course of the mortgage to date. So if I understand this correctly, WF has 60 days to respond to my "qualified written request" of who owns the note. Are they required to actually furnish this info or only respond?

Assuming they provide name(s) then how do I verify a clean unbroken chain of title?


When I did this with BoA, they acted like they never heard of a "mortgage note". They said they would provide me a mortgage verification. They sent me a statement of billing!!! I laughed at them over the phone and told them that was NO verification. I said I could write up a Word.doc and send the exact same thing to all my neighbors and tell them that they could start making payments to me. Then they went silent.

I think I will offer to pay off the mortgage- something they cannot refuse... and I will require the return of my wet-ink note at the closing. If they produce the note, I refinance with my local bank. If not, I sue for quiet title.


Did you actually send them a written request? I looked at my closing documents the other day and its clearly specified what constitutes a "qualified written request" and the timeframe they have to redress grievances. I think I might consult with an attorney acquaintance that looked over docs that I had on a recent land purchase. Something about legal letterhead seems to grab attention a little better than 'please respond to basplaer'

Maybe we need a thread for more members to document our trials, travails and successes?

[Book]

I will need to file against BoA who is "servicing" the note.



BofA is "servicing" many folks now.

[Jazkal]

Some links-
http://www.fanniemae.com/loanlookup/
https://www.mers-servicerid.org/sis/
https://ww3.freddiemac.com/corporate/

In CT deeds are recorded in the town hall. I searched my records. Nothing past Countrywide. The original note may have been destroyed. I need to draft up some communications as soon as I tie together the legal and verifiable techniques.

Thanks for those links. Turns out I am in MERS, but not freddie or fannie. The MERS system says the investor wants to stay anon. I'm going down to the court house today to do a search.

Once you find more info on "legal and verifiable techniques", please share. I'd really like to help them screw themselves. Just trying to be helpful. ;)

[sirgonzo420]

I will need to file against BoA who is "servicing" the note.



BofA is "servicing" many folks now.


Yep.... in the agricultural sense.