And So It Begins.... (Countrywide Breach of PSA)

Agree on ALL points.

Do you mind if I use the part of your post referencing the 10,000 RPM fan on my Facebook page?

I know they first started talking this takeover up in in August 2007. I remember the timing because the Utah mine rescue was going on and we were on vacation on our boat and I was listening to Fox a lot on XM to hear the news about the miners. I’m 99% positive Paulson was pushing this, can’t remember but I think Bernanke was as well... it was pretty clear right then Countrywide was in big trouble and DC didn’t want it to bring down the market. BTW, I am not behind on my mortgage, but this has me concerned... very concerned.

The dates you gave coincide with Turbo Tim geitner as FED Chair, right?

I think he was the chair at the time, yes.

Thanks for answering. Other than the obvious problem of adding to the debt, and the obvious theft, would this work? Would it be enough to save the big banks? And would it stop the upcoming legal feeding frenzy? And would it prevent the collapse in both supply and demand of RE (if that is in the cards)?

Oh, and you need one thing to add to your “At this point, nothing short of live disembowelment the bankers and seeing their severed heads crammed down on iron spikes will satisfy my sense of justice.” Hang them first, but revive them before they suffocate, like they used to do. It apparently was a crowd favorite back in the day.

Well well...Representative Issa...Representative Darryl Issa..Pick up the RED phone Please.

Exactly. And you know what's even worse? You STILL have idiots right here on FR who are so clueless that they think this is all just about "freeloaders" getting "free houses." They'll probably think that all the way up to the point where they get foreclosed on by a bank that they've never heard of, and to which they never owed a cent.

Bears repeating. Tired of the "deadbeat" whine from them while giving the banksters a pass.

“And Bank stocks surge on THIS news. What is going on with WS. Are there some people or brokers that are manipulating the market?”

BofA issued this statement:

“The basis for our foreclosure decisions is accurate,” Dan Frahm, a Bank of America spokesman, said in announcing the bank’s new approach.

This isn’t even the issue in question, so BofA probably made this statement in panic due to their stock going down 10% in the last 3 days. A cynic might even believe they did this so the stock would tick back up a bit today as naive investors were told that there was now a buying opportunity and the insiders could unload before reality hits and the stock really tanks.

“Do you think it will be an outright bailout, or an attempt at legislation that would basically say “whatever documentation the banks have is now enough”?”

I just don’t see how the Feds can wave any kind of magic wand and fix this, with or without federal legislation. They’d have to override all state law regarding public recording of liens and deeds of trust for real property, and even if they did that, assignment of them would be completely arbitrary since the chain of ownership transfers has been broken and the terms of all of the loan documents have been violated. Flip a coin? Heads, the person currently living in the house takes title? Tails, the institution currently receiving payments (if any) takes title? You tell me.

It amaze me the number of people here on FR who are willing to give away other peoples legal rights.

And if the willingness to ignore the rule of law and refuse peoples rights isn’t the road to hell I’ll eat my hat.

Yes there are plenty of 'dead beats' that should be foreclosed on, but there is a legally proscribed way that it is done and basically the banks have stupidly ignored the law and got caught. In fact these banks haven’t obeyed almost any of the laws regarding mortgages, their tranfers and the selling of notes.

Bad enough that people want to deny others do process, but to then be okay with perjury, forgery and fraud on the court is beyond believe.

Has anyone stopped to consider if the bank had been obeying the law the forclosures would have been granted with no problems.

Frankly I fear the damage that will be done to the Republic by people who would choose to ignore the rule of law and take away the rights of others more than I fear the damage that will be caused by all the ‘dead beats’ and the crooked bankers and lawyers.

Amazing that people who thought clinton perjury was a bad thing but major banks doing the same thing is OK.

If you want to see how deep this securitization hole goes check out these sites.

msfraud.org

livinglies.wordpress.com

spend an afternoon digging around. This mortgage thing is a flippin legal minefield for the banks...

See post #5

Later

Yep, and what ticks me off the most is that even if a homeowner did/does everything right, they’re always still that constant Damoclean sword hanging over our heads, in any number of ways. Even if you don’t have some bank come in and foreclose on you illegally, there’s still the fact that this mess has completely destroyed any confidence people (including, ah, title insurance companies) might have in the system. Good luck selling your house without needless headache, should you ever need to. Good luck getting a title insurance provider to back the title. Even the large majority of us who were/are completely on the up-and-up are going to end up getting burned by all this, one way or another.

The RESPA QWR letter prepaired by the government is very detailed! I can just see the responses coming from B of A when they get lots of letters like this.

(MORTGAGE COMPANY NAME & ADDRESS)

(DATE)

Loan # ___________________
Borrower Name(s): __________________
Property Address: _______________________

RE: RESPA Qualified Written Request, Complaint, and Dispute of Debt and Validation of Debt Letter

Dear ____________,

I am writing to you to request specific itemized information about the accounting and servicing of my mortgage and of my need for understanding and clarification of various charges, credits, debits, transactions, actions, payments, analyses and records related to the servicing of my loan from its inception to the present date.

I am disputing the validity of the current debt you claim that I owe. To independently validate this debt, I need to conduct a complete exam, audit, review and accounting of my mortgage loan from its inception until the present date. Upon receipt of this letter, please refrain from reporting any negative credit information to any credit reporting agencies until you respond to my “requests.”

I also request that you conduct your own investigation and audit of my account since its inception to “validate” the debt you claim I owe you is accurate to the penny. Please do not rely on previous servicers or originators assurances or indemnity agreements and refuse to conduct a full audit and investigation of my account.

I want to insure that I or [we] have not been the victim of such predatory practices. To insure this, I have authorized a thorough review, examination, accounting and audit of my mortgage loan #______________ by predatory lending experts. This exam and audit will review my mortgage loan file from the date of my initial contact, application and the origination of my loan to the present date written above.

As such, please treat this letter as a “Qualified Written Request” under the Real Estate Settlement Procedures Act, codified as Section 2605 (e) of Title 12 of the United States Code. As you know, RESPA provides substantial penalties and fines for non-compliance or answers to my questions provided in this letter within sixty [60] days!

In order to conduct this examination and audit, I need to have full and immediate disclosure including copies of all pertinent information regarding my loan. The documents requested and answers to questions are needed by my counsel and the predatory lending experts retained to insure that my loan:

· Was originated in lawful compliance with all federal and state laws, regulations including, but not limited to RESPA, HOEPA and other laws;

· That any sale or transfer of my loan was conducted in accordance with proper laws and was a “true sale” of my note;

· That the claimed holder in due course of my promissory note and deed of trust is holding such note in compliance with State and Federal laws and is entitled to the benefits of my payments;

· That all appropriate disclosures of terms, costs, commissions, rebates, kickbacks, fees etc. Were properly disclosed to me at the inception of my loan;

· That each servicer and sub-servicer of my mortgage has serviced my mortgage in accordance with the terms of my mortgage, promissory note and/or deed of trust;

· That each servicer and sub-servicer of my mortgage has serviced my mortgage in compliance with local, state and federal statutes, laws and regulations;

· That my loan has properly been credited, debited, adjusted, amortized and charged correctly;

· That interest and principal have been properly calculated and applied to my loan;

· That my principal balance has been properly calculated and accounted for;

· That no charges, fees or expenses, not obligated by me in any agreement, have been charged or assessed to or collected on my account;

In order to validate my debt and audit my account, I need copies of pertinent documents to be provided and answers in writing to various servicing questions to be sent to me and/or to my representative:

(REPRESENTATIVE’S NAME, ADDRESS, PHONE & FAX #)

For each record kept on computer or in any other electronic file or format, please provide a paper copy of “all” information in each field or record in each computer system, program or database used by you that contains any information on my account.

As such, please send to me, at the address above, copies of the documents requested below as soon as possible. Please provide me copies of:

1. All data, information, notations, text, figures and information contained in your mortgage servicing and accounting computer systems including, but not limited to Alltel’s CPI system, any system by Alltell or any other similar mortgage servicing software used by you, any servicers, or sub-servicer of my mortgage account from the inception of my loan to the date written above.

2. All descriptions and legends of all Codes used in your mortgage servicing and accounting system so that the examiners, auditors and experts retained to audit and review my mortgage account may properly conduct their work.

3. All purchase and sale of mortgage agreements, sale or transfer of servicing rights or other similar agreement related to any assignment, purchase or sale of my mortgage loan or servicing rights by you, any broker, affiliate company, parent company, servicers, bank, government sponsored enterprise, sub-servicers, mortgage broker, mortgage banker or any holder of any right related to my mortgage, promissory note and deed of trust from the inception of my loan to the present date.

4. All prospectus’ related to the sale or transfer of my note, deed of trust, mortgage and servicing rights or other similar agreement related to any assignment, purchase or sale of my mortgage loan or servicing rights by you, any broker, affiliate company, parent company, servicers, bank, government sponsored enterprise, sub-servicers, mortgage broker, mortgage banker or any holder of any right related to my mortgage, promissory note and deed of trust from the inception of my loan to the present date.

5. All assignments, transfers, alonges, or other document evidencing a transfer, sale or assignment of my mortgage, deed of trust, promissory note or other document that secures payment by me to my obligation in this account from the inception of my loan to the present date.

6. All deeds in lieu, modifications to my mortgage, promissory note or deed of trust from the inception of my loan to the present date.

7. The front and back of each and every canceled check, money order, draft, debit or credit notice issued to any servicer of my account for payment of any monthly payment, other payment, escrow charge, fee or expense on my account.

8. All escrow analyses conducted on my account from the inception of my loan until the date of this letter;

9. The front and back of each and every canceled check, draft or debit notice issued for payment of closing costs, fees and expenses listed on my disclosure statement including, but not limited to, appraisal fees, inspection fees, title searches, title insurance fees, credit life insurance premiums, hazard insurance premiums, commissions, attorney fees, points, etc.

10. Front and back copies of all payment receipts, checks, money orders, drafts, automatic debits and written evidence of payments made by me or by others on my account.

11. All letters, statements and documents sent to me by your company;

12. All letters, statements and documents sent to me by agents, attorneys or representatives of your company;

13. All letters, statements and documents sent to me by previous servicers, sub-servicers or others in your loan file or in your control or possession or in the control or possession of any affiliate, parent company, agent, sub-servicer, servicer, attorney or other representative of your company.

14. All letters, statements and documents contained in my loan file or imaged by you, any servicer or sub-servicers of my mortgage from the inception of my loan to present date.

15. All electronic transfers, assignments, sales of my note, mortgage, deed of trust or other security instrument.

16. All copies of property inspection reports, appraisals, BPOs and reports done on my property.

17. All invoices for each charge such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense which has been charged to my mortgage account from the inception of my loan to the present date.

18. All checks used to pay invoices for each charged such as inspection fees, BPOs, appraisal fees, attorney fees, insurance, taxes, assessments or any expense which has been charged to my mortgage account from the inception of my loan to the present date.

19. All agreements, contracts and understandings with vendors that have been paid for any charge on my account from the inception of my loan to the present date.

20. All loan servicing records, payment payoffs, payoff calculations, ARM audits, interest rate adjustments, payment records, transaction histories, loan histories, accounting records, ledgers, and documents that relate to the accounting of my loan from the inception of my loan until present date?

21. All loan servicing “transaction” records, ledgers, registers and similar items detailing how my loan has been serviced from the from the inception of my loan until present date?

Further, in order to conduct the audit and review of my account, and to determine all proper amounts due, I need the following answers to questions concerning the servicing and accounting of my mortgage account from its inception to the present date. Accordingly, can you please provide me, in writing, the answers to the questions listed below.

LOAN ACCOUNTING & SERVICING SYSTEMS

1) Please identify for me each loan accounting and servicing system used by you and any sub-servicer or previous servicer from the inception of my loan to the present date?

2) For each loan accounting and servicing system identified by you and any sub-servicer or previous servicer from the inception of my loan to the present date, please provide the name and address of the company or party that designed and sold the system?

3) For each loan accounting and servicing system used by you and any sub-servicer or previous servicer from the inception of my loan to the present date, please provide the complete transaction code list for each system.

DEBITS & CREDITS

1) In a spreadsheet form or in letter form in a columnar format, please detail for me each and every credit on my account and the date such credit was posted to my account as well as the date any credit was received.

2) In a spreadsheet form or in letter form in a columnar format, please detail for me each and every debit on my account and the date such credit was posted to my account as well as the date any debit was received.

3) For each debit or credit listed, please provide me with the definition for each corresponding transaction code you utilize?

4) For each transaction code, please provide us with the master transaction code list used by you or previous servicers.

MORTGAGE & ASSIGNMENTS

1) Has each sale, transfer or assignment of my mortgage or promissory note or any other instrument I executed to secure my debt been recorded in the county property records in the county and state in which my property is located from the inception of my loan to the present date? Yes or No?

2) If no, why?

3) Have any sales, transfers or assignments of my mortgage or promissory note or any other instrument I executed to secure my debt been recorded in any electronic fashion such as MERS or other internal or external system from the inception of my loan to the present date? Yes or No?

4) If yes, please detail for me the names of each seller, purchaser, assignor, assignee or any holder in due course to any right or obligation of any note, mortgage, deed or security instrument I executed securing the obligation on my account that was not recorded in the county records where my property is located.

ATTORNEY FEES

1) For purposes of my questions below dealing with attorney fees, please consider the terms “attorney fees” and “legal fees” to be one in the same.

2) Have attorney fees ever been assessed to my account from the inception of my loan to the present date?

3) If yes, please detail each separate assessment of attorney fees to my account from the inception of my loan to the present date and the date of such assessment to my account?

4) Have attorney fees ever been charged to my account from the inception of my loan to the present date?

5) If yes, please detail each separate charge of attorney fees to my account from the inception of my loan to the present date and the date of such charge to my account?

6) Have attorney fees ever been collected from my account from the inception of my loan to the present date?

7) If yes, please detail each separate collection of attorney fees from my account from the inception of my loan to the present date and the date of such collection from my account?

8) Please provide for me the name and address of each attorney or law firm that has been paid any fees or expenses related to my account from the inception of my loan to the present date?

9) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of attorney fees?

10) Please detail and list for me in writing each separate attorney fee assessed to my account and for which corresponding payment period or month such late fee was assessed from the inception of my loan to present date.

11) Please detail and list for me in writing each separate attorney fee collected from my account and for which corresponding payment period or month such late fee was collected from the inception of my loan to present date.

12) Please detail and list for me in writing any adjustments in attorney fees assessed and on what date such adjustment was made and the reasons for such adjustment.

13) Please detail and list for me in writing any adjustments in attorney fees collected and on what date such adjustment were made and the reasons for such adjustment.

14) Has interest been charged on any attorney fee assessed or charged to my account? Yes or No?

15) Is interest allowed to be assessed or charged on attorney fees charged or assessed to my account? Yes or No?

16) How much in total attorney fees have been assessed to my account from the inception of my loan until present date? $____________

17) How much in total attorney fees have been collected on my account from the inception of my loan until present date? $__________

SUSPENSE/UNAPPLIED ACCOUNTS

1) For purposes of this section, please treat the term “suspense account” and “unapplied account” as one in the same.

2) Has there been any suspense or unapplied account transactions on my account from the inception of my loan until present date?

3) If yes, why? If no, please skip the questions in this section dealing with suspense and unapplied accounts.

4) In a spreadsheet or in letterform in a columnar format, please detail for me each and every transaction, both debits and credits that has occurred on my account from the inception of my loan until present date?

LATE FEES

1) For purposes of my questions below dealing with late fees, please consider the terms “late fees” and “late charges” to be one in the same.

2) Have you reported the collection of late fees on my account as interest in any statement to me or to the IRS? Yes or No?

3) Has any previous servicer or sub-servicer of my mortgage reported the collection of late fees on my account as interest in any statement to me or to the IRS? Yes or No?

4) Do you consider the payment of late fees as liquidated damages to you for not receiving my payment on time? Yes or No?

5) Are late fees considered interest? Yes or No?

6) Please detail for me in writing what expenses and damages you incurred for any payment I made that was late.

7) Were any of these expenses or damages charged or assessed to my account in any other way? Yes or No?

8) If yes, please describe what expenses or charges were charged or assessed to my account?

9) Please describe for me in writing what expenses you or others undertook due to any payment I made which was late?

10) Please describe for me in writing what damages you or others undertook due to any payment I made which was late?

11) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of late fees?

12) Please detail and list for me in writing each separate late fee assessed to my account and for which corresponding payment period or month such late fee was assessed from the inception of my loan to present date.

13) Please detail and list for me in writing each separate late fee collected from my account and for which corresponding payment period or month such late fee was collected from the inception of my loan to present date.

14) Please detail and list for me in writing any adjustments in late fees assessed and on what date such adjustment was made and the reasons for such adjustment.

15) Please detail and list for me in writing any adjustments in late fees collected and on what date such adjustment was made and the reasons for such adjustment.

16) Has interest been charged on any late fee assessed or charged to my account? Yes or No?

17) Is interest allowed to be assessed or charged on late fees charged or assessed to my account? Yes or No?

18) Have any late charges been assessed to my account? Yes or No?

19) If yes, how much in total late charges have been assessed to my account from the inception of my loan until present date? $____________

20) Please provide me with the exact months or payment dates you or other previous servicers of my account claim I have been late with a payment from the inception of my loan to the present date.

21) Have late charges been collected on my account from the inception of my loan until present date? Yes or No?

22) If yes, how much in total late charges have been collected on my account from the inception of my loan until present date? $__________

PROPERTY INSPECTIONS

1) For purposes of this section “property inspection” and “inspection fee” refer to any inspection of my property by any source and any related fee or expense charged for such inspection.

2) Have any property inspections been conducted on my property from the inception of my loan until the present date?

3) If your answer is no, you can skip the rest of these questions in this section concerning property inspections?

4) If yes, please tell me the date of each property inspection conducted on my property that is the secured interest for my mortgage, deed or note?

5) Please tell me the price charged for each property inspection?

6) Please tell me the date of each property inspection?

7) Please tell me the name and address of each company and person who conducted each property inspection on my property?

8) Please tell me why property inspections were conducted on my property?

9) Please tell me how property inspections are beneficial to me.

10) Please tell me how property inspections are protective of my property.

11) Please explain to me your policy on property inspections.

12) Do you consider the payment of inspection fees as a cost of collection? Yes or No?

13) If yes, why?

14) Do you use property inspections to collect debts? Yes or No?

15) Have you used any portion of the property inspection process on my property to collect a debt or inform me of a debt, payment or obligation I owe?

16) If yes, please answer when and why?

17) Please identify for me in writing the provision, paragraph, section or sentence of any note, mortgage, deed of trust or any agreement I signed authorized the assessment or collection of property inspection fees?

18) Have you labeled in any record or document sent to me a property inspection as a misc. advance? Yes or No?

19) If yes, why?

20) Have you labeled in any record or document sent to me a property inspection as a legal fee or attorney fee? Yes or No?

21) If yes, why?

22) Please detail and list for me in writing each separate inspection fee assessed to my account and for which corresponding payment period or month such fee was assessed from the inception of my loan to present date.

23) Please detail and list for me in writing each separate inspection fee collected from my account and for which corresponding payment period or month such fee was collected from the inception of my loan to present date.

24) Please detail and list for me in writing any adjustments in inspection fees assessed and on what date such adjustment was made and the reasons for such adjustment.

25) Please detail and list for me in writing any adjustments in inspection fees collected and on what date such adjustment was made and the reasons for such adjustment.

26) Has interest been charged on any inspection fees assessed or charged to my account? Yes or No?

27) If yes, when and how much was charged?

28) Is interest allowed to be assessed or charged on inspection fees charged or assessed to my account? Yes or No?

29) How much in total inspection fees have been assessed to my account from the inception of my loan until present date? $____________

30) How much in total inspection fee have been collected on my account from the inception of my loan until present date? $__________

BPO FEES

1) Have any BPOs [Broker’s Price Opinions] been conducted on my property?

2) If yes, please tell me the date of each BPO conducted on my property that is the secured interest for my mortgage, deed or note?

3) Please tell me the price of each BPO?

4) Please tell me who conducted each BPO?

5) Please tell me why BPOs were conducted on my property

6) Please tell me how BPOs are beneficial to me.

7) Please tell me how BPOs are protective of my property.

8) Please explain to me your policy on BPOs.

9) Have any BPO fees been assessed to my account? Yes or No?

10) If yes, how much in total BPO fees have been assessed to my account? $________

11) Have any BPO fees been charged to my account? Yes or No?

12) If yes, how much in total BPO fees have been charged to my account? $______

13) Please tell me specifically what clause, paragraph and sentence in my note, mortgage or deed of trust or any agreement I have executed allows you to assess, charge or collect a BPO fee from me.

SERVICING RELATED QUESTIONS

For each of the following questions listed below, please provide me with a detailed explanation in writing that answers each question:

In addition, I need the following answers to questions concerning the servicing of my mortgage account from its inception to the present date. Accordingly, can you please provide me, in writing, the answers to the questions listed below:

1) Did the originator of my loan have any financing agreements or contracts with your company?

2) Did the originator of my loan have a warehouse loan agreement or contract with your company?

3) Did the originator of my loan receive any compensation, fee, commission, payment, rebate or other financial consideration from your company or any affiliate of your company for handling, processing, originating or administering my loan? If yes, please describe and itemize each and every form of compensation, fee, commission, payment, rebate or other financial consideration paid to the originator of my loan by your company or any affiliate.

4) Please identify for me where the originals of my entire loan file are currently located and how they are being stored, kept and protected?

5) Where is the “original” promissory note or mortgage I signed located? Please describe its physical location and anyone holding this note as a custodian or trustee if applicable.

6) Where is the “original” deed of trust I signed located? Please describe its physical location and anyone holding this note as a custodian or trustee if applicable.

7) Since the inception of my loan, has there been any assignment of my promissory note or mortgage to any other party? If the answer is yes, would you kindly identify the names and addresses of each and every individual, party, bank, trust or entity that has received such assignment.

8) Since the inception of my loan, has there been any assignment of my deed of trust to any other party? If the answer is yes, would you kindly identify the names and addresses of each and every individual, party, bank, trust or entity that has received such assignment.

9) Since the inception of my loan, has there been any sale or assignment of servicing rights to my mortgage loan to any other party? If the answer is yes, would you kindly identify the names and addresses of each and every individual, party, bank, trust or entity that has received such assignment or sale.

10) Since the inception of my loan, has any sub-servicer serviced any portion of my mortgage loan? If the answer is yes, would you kindly identify the names and addresses of each and every individual, party, bank, trust or entity that has sub-serviced my mortgage loan.

11) Has my mortgage loan been made a part of any mortgage pool since the inception of my loan? If yes, please identify for me each and every loan mortgage pool that my mortgage has been a part of from the inception of my loan to the present date.

12) Has each and every assignment of my mortgage or promissory note been recorded in the county land records where the property associated with my mortgage loan is located?

13) Has there been any “electronic” assignment of my mortgage with MERS or any other computer mortgage registry service or computer program? If yes, please identify the name and address of each and every individual,

14) Have there been any “investors” who have participated in any mortgage backed security, collateral mortgage obligation or other mortgage security instrument that my mortgage loan has ever been a part of from the inception of my mortgage to the present date? If yes, please identify the name and address of each and every individual, entity, organization or

15) Please identify for me the parties and their addresses to all sales contracts, servicing agreements, assignments, alonges, transfers, indemnification agreements, recourse agreements and any agreement related to my loan from its inception to the current date written above.

16) Please provide me with copies of all sales contracts, servicing agreements, assignments, alonges, transfers, indemnification agreements, recourse agreements and any agreement related to my loan from its inception to the current date written above.

Please provide me with the documents I have requested and a detailed answer to each of my questions within the required lawful time frame. Upon receipt of the documents and answers, an exam and audit will be conducted that may lead to a further document request and answers to questions under an additional QWR letter.

Copies of this Qualified Written Request, Validation of Debt, request for accounting and legal records, Dispute of Debt letter is being sent to HUD, all relevant state and federal regulators; local predatory lending task forces; other consumer advocates; my congressman and various class action law firms and lawyers referred to me.

It is my hope that you can answer my questions, document and validate my debt to the penny and correct and make right any errors uncovered.
Sincerely,

______________________________________________________
(HOMEOWNER’S PRINTED NAME AND SIGNATURE)

Copies to:
Counseling Agency
Pennsylvania Department of Banking
(Banking Department where company has primary office)
U. S. Department of Housing & Urban Development
U.S. Congressperson in homeowner’s district)