Mortgage Notes: Those Nasty Assignments!

Unfortunately, the courts treat these documents as traditional mortgages. Under the surface of these arguments is a matrix of cyber technology that establishes these were NTMs (Sheila Bair’s terminology in Bull By the Horns) “non-traditional mortgages.” Judges that proclaim that the homeowner is not a party to the transaction(s) is clueless as to what is actually transpiring.

Prior to the homeowner signing the documents, there is an established and ongoing seamless automation of collateral procurement to securitization and rehypothecation concealed from the homeowner. In the collateral package will be the homeowner’s social security numbers, the property, the homeowner’s credit and ability to pay (forever and ever), among other items.

The entire scheme from start to foreclosure and beyond is patented and filed in the USPTO, as if concealment were legitimate. There are numerous master agreements filed with the SEC that define the collateral packages sent to the Wall Street banks where they use the securities transaction for profit (or in some cases as Lehman loss) on their bottom-line.

The scheme is concealed and generally the homeowners can’t get full disclosure because they can’t obtain discovery. However, the facts are there that the social security numbers are part of the transaction and not even redacted on the 1003 loan application found in the cyber-cloud data storage that is generally shared by the players. Unfortunately, borrowers don’t get the option to “opt-out” for privacy purposes until after the horse has left the barn.

IMHO a 2004 Examination would be quite enlightening if you know what you are hunting for.


In re Baber, 523 B.R. 156 (Bankr. E.D. Ark. 2014) –

The debtors objected to a proof of claim filed on behalf of a mortgagee based on issues arising from assignment of the mortgage note by the lender that originated the loan.  The mortgagee responded by, among other things, challenging the standing of the debtors to raise these issues.

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2 thoughts on “Mortgage Notes: Those Nasty Assignments!

  1. The Borrowers / Debtors “have no standing” argument has been shot down by several courts around the country. I would hope the folks appeal the decision in this particular case — because it is wrong.

    Date: Fri, 6 Mar 2015 18:58:47 +0000 To:

  2. In regard to those Nasty assignments, it matters how the borrower plead.Such in my case the Deed of Trust (fannie/freddie form 3005) specifically gives a borrower the right to challenge an assignment, in two different areas , Borrower covenants, which obligates the borrower to defend title against all claims and demands, subject to any encumbrances of record. Paragraph 22 states This notice shall further inform the borrower of the right to reinstate after acceleration and the right to bring a court action to assert non-existence of default OR ANY OTHER DEFENSE to acceleration and sale. If a court says you have no standing then I would move for the Deed of Trust to be extinguished because the PLAIN Language in the DEED of TRUST and right to enforce those rights have been determined not enforceable under the law. That is my take anyway.

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