ARE BONDHOLDERS LOOKING TO FIRE OCWEN?

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see Fund Manager’s Letter to Bondholders Detailing Sins of Ocwen

Chickens are coming home to roost. Just read the letter. Anyone who is litigating a case where Ocwen is involved in any way in the chain of title or ownership of the loan paperwork should read this in detail. This could be used as support for arguments that the books and records of the servicer or foreclosing party should not be given the luxury of certain legal presumptions. The presumption that there is in fact a servicing de fault called by the bondholders may enough to force the parties actually prove the nonexistent transactions about which their assignments and endorsements are written.

Why? That is the  question everyone should be asking. If Ocwen was not servicing for the benefit of the REMIC Trust (and the bondholders) then who are they really…

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One thought on “ARE BONDHOLDERS LOOKING TO FIRE OCWEN?

  1. If Ocwen was not servicing for the benefit of the REMIC Trust (and the bondholders) then who are they really…

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    I can answer that … look at the “REMIC Trust’s” that failed prior to the creation of Maiden Lane… Those were paid off in full by AIG and other insurers and left in limbo because the insurers had no claim to the equity they insured… Option One’s “Option One Mortgage Loan Trust 2007-FXD2” is an absolute mess ,, failed right out of the gate with 7% of loans never making the first payment… Option One had never paid off it’s table funder Bank of America so BAC got the AIG payoff… this is a good example..

    So .. in May 2008 BAC and OO sold the notes to AHMSI for 22.5% of the face , AHMSI rode the foreclosure wave and profited from the sales of property that should have been reported to the property owners as “satisfied” “free and clear” ,, AHMSI and Wilbur Ross saw the cashflow slowing in 2012 and the increase in scrutiny on the businesses and sold out to OCWEN who continues the charade of pretending to be the servicer instead of the holder of the notes.

    They are servicing for THEMSELVES ,, this is just one trust ,, dozens were transferred prior to the creation of maiden lane… OCWEN is continuing to use WF to calculate the fake numbers.. What’s happening to the CASH? I don’t know but Erby lives offshore and came up with his interconnected incestuous business model for a reason… I think that reason is to keep all the data under one umbrella and hidden… or to ensure that it can be manipulated in an organized way to avoid detection.

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