Absolutely correct. And where in the trust does it give a trustee the power to sue? Many (or even most) of the trusts say that the Trustee has no liability or responsibility for the quality or performance of the underlying loans. It appears the process requires the servicer or seller to buy back the defective loan at face value in order to initiate a foreclosure.
The Court, possibly because of the pleadings and briefs refers to the Trust as “US Bank” — a complete misnomer that reveals a completely incorrect premise. Despite the clear allegation of the existence of the Trust — proffered by the Trust itself — the Courts are seeing these cases as “Bank v Homeowner” rather than “Trust v Homeowner.” The record in this case and most other cases clearly shows that such a premise is destructive to the rights of the homeowner and assumes the corollary, to wit: that the “Bank” loaned money or purchased the loan from a party who owned the loan — a narrative that is completely defeated by the Court rulings in this case.
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