The banks now need to go back, obtain an assignment from the original lender, record it, and then proceed to foreclose. And yes, they will have to pay those annoying recording fees to the counties
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EASIER SAID THAN DONE ... almost 100% of the securitized mortgages were table funded by an unnamed 3rd party ,, a party that is not currently recognized on any of the docs.
They have to decide if they want to forge an assignment from bank “A” to depositor “B” to Trustee “C” and risk being caught in the lie that bank “A” didn’t actually own anything because bank “AA” actually wired the money for the purchase...
Or do they want to acknowledge bank “AA’s” role and blow out the mortgage on TILA grounds as a void instrument..
FOR YOUR ENJOYMENT:
ORDER GRANTING TRUSTEE’S MOTION TO SET MOTION TO COMPEL
FOR EXPEDITED HEARING AND TO REQUIRE RESPONSE FROM
CITIMORTGAGE
http://www.ksb.uscourts.gov/images/ksb_opinions/JMK_10-41685-45.pdf
Nobody wants to get tangled up in this fraud..