Finally, we’re beginning to recognize the importance of UETA and eSign! DeadlyClear has provided several posts regarding electronic signatures in the past years. While the failure to obtain explicit authorization pursuant to the law may not invalidate the transaction – it does shed light on the fact that these were securities transaction – because securities are allowed to be electronically transferred…but not mortgage promissory notes – at least not without “explicit agreement” by the issuer (obligor) – and that never happened before 2008.
What is apparent is that the trusts never came into legal existence both because they were never funded and because they were in many cases never signed. Failure to execute and failure to fund the trust reduces the “trust” to a pile of ashes.
THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
I can find no evidence that there is a Trust ever created or operational by the name of “RMAC REMIC Trust Series 2009-9”. In my honest opinion I don’t think there ever was such a trust. I think that papers were drawn up for the trust but never executed. Since the trusts are phantoms anyway, this was consistent with the facts. The use of the trust as a Plaintiff…
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