[lady lawyer]

They have been allowed to use the electronic system, and attest that they own the mortgage through use of the electronic system. The “scandal” is that bank officers have been signing attestations without actually reading them.

Foreclosures take forever. By the time they get to court, the person sitting in the house probably hasn’t made a payment for a year. If there were any real question about who held the note, the person in the house would have been getting multiple mortage statements, or a default notice from one servicer, when they have made the payments to another servicer, and the problem would long since have been resolved. It would have been resolved the first time the homeowner contacted one servicer and showed them the canceled check from the payment to the other servicer. But this is not the circumstance that is making news. It is the technical argument that the persons attesting to the documentation hasn’t reviewed it.

This is much ado about nothing. But most people are unfamiliar with the process, and it is easy for the media to whip them into a frenzy about “fraud.”

[Kartographer]

You fail to answer the question which is:

So does anyone who can not produce legal documentation (i.e. trust deed/Note)for the said property have standing in a court to request foreclosure for that property?

[LomanBill]

>>This is much ado about nothing.

What does "collusion" mean?


http://www.msfraud.org/LAW/Lounge/Deutsche Bank National Trust Co_Justice Schack.doc

[Kartographer]

The ‘scandal’ also is that they can not produce the required legal documents and when they couldn't they forged them and then perjured themselves swearing to the fact that the documents were real and lastly they failed to legally transfer documentation (i.e. trust deed/Note) as required by law.

[mdmathis6]

“This is much ado about nothing. But most people are unfamiliar with the process, and it is easy for the media to whip them into a frenzy about “fraud.””

They tried that same reasoning with a Federal Judge in Ohio concerning Deutsch bank and the Judge wrote a very sarcastic decision. The lawyers said to the judge when he asked for the original documents that “this isn’t how it is done, citing the electronic systems ect”, to which he replied in sarcastic legalese...”OH please really?”, while awarding the deed to the home owner and vacating the foreclosure!

Now, if I pay my mortgage and my mortgage has been put into a package of securities from which folk invest in pieces of(read derivatives) and I “officially” pay off my mortgage to a “servicer”, will I have any title security at all in the case that some investor feeling jilted, decides to sue me directly, having a piece of paper in his possesion listing my property mortgage as something he had a legal piece of but got no renumeration from?