Glaski vs Bank of America NA et al – FOR PUBLICATION

Glaski vs Bank of America NA et al – FOR PUBLICATION

Edstrom_MortgageSecuritization_POSTER_17_x_22_v4_1By Daniel Edstrom
DTC Systems, Inc.

On August 8, 2013 the Fifth Appellate District in the Court of Appeal of the State of California ordered the Thomas A. Glaski vs Bank of America, NA et al decision published, stating:

 

 

As the nonpublished opinion filed on July 31, 2013, in the above entitled matter hereby meets the standards for publication specified in the California Rules of Court, rule 8.1105(c), it is ordered that the opinion be certified for publication in the Official Reports.

Based on the importance of this case, the text of the July 31, 2013 ruling is listed verbatim:

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

FIFTH APPELLATE DISTRICT

THOMAS A. GLASKI,Plaintiff and Appellant,v.

BANK OF AMERICA, NATIONAL ASSOCIATION et al.

Defendants and Respondents.

F064556

(Super. Ct. No. 09CECG03601)

OPINION

 

APPEAL from a judgment of the Superior Court of Fresno County.  Alan M. Simpson, Judge.

Law Offices of Richard L. Antognini and Richard L. Antognini; Law Offices of Catarina M. Benitez and Catarina M. Benitez, for Plaintiff and Appellant.

AlvaradoSmith, Theodore E. Bacon, and Mikel A. Glavinovich, for Defendants and Respondents.

-ooOoo-

INTRODUCTION

            Before Washington Mutual Bank, FA (WaMu) was seized by federal banking regulators in 2008, it made many residential real estate loans and used those loans as collateral for mortgage-backed securities.[1]  Many of the loans went into default, which led to nonjudicial foreclosure proceedings.  Some of the foreclosures generated lawsuits, which raised a wide variety of claims.  The allegations that the instant case shares with some of the other lawsuits are that (1) documents related to the foreclosure contained forged signatures of Deborah Brignac and (2) the foreclosing entity was not the true owner of the loan because its chain of ownership had been broken by a defective transfer of the loan to the securitized trust established for the mortgage-backed securities.  Here, the specific defect alleged is that the attempted transfers were made after the closing date of the securitized trust holding the pooled mortgages and therefore the transfers were ineffective.

In this appeal, the borrower contends the trial court erred by sustaining defendants’ demurrer as to all of his causes of action attacking the nonjudicial foreclosure.  We conclude that, although the borrower’s allegations are somewhat confusing and may contain contradictions, he nonetheless has stated a wrongful foreclosure claim under the lenient standards applied to demurrers.  We conclude that a borrower may challenge the securitized trust’s chain of ownership by alleging the attempts to transfer the deed of trust to the securitized trust (which was formed under New York law) occurred after the trust’s closing date.  Transfers that violate the terms of the trust instrument are void under New York trust law, and borrowers have standing to challenge void assignments of their loans even though they are not a party to, or a third party beneficiary of, the assignment agreement.

We therefore reverse the judgment of dismissal and remand for further proceedings.

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Glaski Decision in California Appellate Court Turns the Corner on “Getting It”

Neil_GarfieldGlaski Decision in California Appellate Court Turns the Corner on “Getting It”

By Daniel Edstrom
DTC Systems, Inc.

The following article was posted by Neil F. Garfield of livinglies.wordpress.com and comes from the following URL: http://livinglies.wordpress.com/2013/08/02/glaski-decision-in-california-appellate-court-turns-the-corner-on-getting-it/

On the other hand we should not assume that they have arrived nor that this decision will have pervasive effects throughout California or elsewhere in the United States or other countries.

J.P. Morgan did suffer a crushing defeat in this decision. And the borrower definitely receive the benefits of a judicial decision that will allow the borrower to sue for wrongful foreclosure including equitable and legal relief which in plain language means reversing the foreclosure and getting damages. Probably one of the most damaging conclusions by the appellate court is that an examination of whether the loan ever made it into the asset pool is proper in determining the proper party to initiate a foreclosure or to offer a credit bid at a foreclosure auction.  The court said that alleged transfers into the trust after the cutoff date are void under New York State law which is the law that governs the common-law trusts created by the banks as part of the fraudulent securitization scheme.

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Perils of Pooling: OneWest

Neil_GarfieldPerils of Pooling: OneWest

By Daniel Edstrom
DTC Systems, Inc.

The following article was posted by Neil F. Garfield of livinglies.wordpress.com and comes from the following URL: http://livinglies.wordpress.com/2013/07/31/perils-of-pooling-onewest/

Apparently my article yesterday hit a nerve. NO I wasn’t saying that the only problems were with BofA and Chase. OneWest is another example. Keep in mind that the sole source of information to regulators and the courts are the ONLY people who understand mergers and acquisitions. So it is a little like one of those TV shows where the only way they can get an arrest and conviction is for the perpetrator or suspect to confess. In this case, they “confess” all kinds of things to gain credibility and then lead the agencies and judicial system down a rabbit hole which is now a well trodden path. So many people have gone down that hole that most people that is the way to get to the truth. It isn’t. It is part of a carefully constructed series of complex conflicting lies designed carefully by some very smart lawyers who understand not just the law but the way the law works. The latter is how they are getting away with it.

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Perils of Pooling

Neil_GarfieldPerils of Pooling

By Daniel Edstrom
DTC Systems, Inc.

The following article was posted by Neil F. Garfield of livinglies.wordpress.com and comes from the following URL: http://livinglies.wordpress.com/2013/07/30/perils-of-pooling/

Perils of Pooling

Posted on July 30, 2013 by Neil Garfield

We hold these truths to be self evident: that Chase never acquired any loans from Washington Mutual and that Bank of America never acquired any loans from Countrywide.  A review of the merger documents approved by the FDIC reveals that neither Chase nor Bank of America wanted to assume any liabilities in connection with the lending operations of Washington Mutual or Countrywide, respectively. The loans were expressly left out of the agreement which is available for everyone to see on the FDIC website in the reading room.

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Federal Reserve Board Announces Amendment to GMAC Consent Order

  Federal Reserve Board Announces Amendment to GMAC Consent Order

GMAC_1

 

 

 

 

By Daniel Edstrom
DTC Systems, Inc.

The following press release was issued on July 26, 2013:

Press Release

Release Date: July 26, 2013

For immediate release

The Federal Reserve Board on Friday released an amendment to the enforcement action against GMAC Mortgage requiring approximately $230 million in cash payments to mortgage borrowers.

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All Assignments of a Mortgage Must Be Recorded Before the Mortgagee Begins Foreclosure by Advertisement

foreclosure_Street2All Assignments of a Mortgage Must Be Recorded Before the Mortgagee Begins Foreclosure by Advertisement

By Daniel Edstrom
DTC Systems, Inc.

The Minnesota Supreme Court issued a ruling requiring strict compliance with recording assignments prior to starting a foreclosure by advertisement.

Quote from the ruling:

Under Minn. Stat. § 580.02 (2012), all assignments of a mortgage must be recorded before the mortgagee begins the process of foreclosure by advertisement. Absent strict compliance with this requirement, a foreclosure by advertisement is void.
Affirmed.

 

Download the ruling here: http://dtc-systems.net/wp-content/uploads/2013/06/Ruiz-vs-1st-Fidelity-Foreclosure-by-Advertisement-must-have-strict-compliance.pdf

 

Will the Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

mers-shareholdersWill the Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

By Daniel Edstrom
DTC Systems, Inc.

This blog post was posted to the Querin Law LLC website (www.q-law.com).  Click the link below to read the post.

Will The Niday & Brandrup Rulings Change How Foreclosures Are Conducted In Oregon? Not Likely!

Posted on June 23, 2013 by Phil Querin

Occupy Leader Bratton Held on $250,000 Bail

Neil_GarfieldOccupy Leader Bratton Held on $250,000 Bail

By Neil F. Garfield
Livinglies.wordpress.com

Occupy Leader Bratton Held on $250,000 Bail

Posted on June 23, 2013 by Neil Garfield

In my judgment, based upon the scant facts and documents supplied to me this far, there is no doubt that Bratton DID own the property and probably still does if the law is applied properly.

I know of cases where probable cause was found for Murder and the bail was set less than that. The calls and emails keep coming in and I can’t say that I have a total picture of what was really going on here. But, based upon what I have the current story is this:

Bratton is one of the leaders in the Occupy movement. It may be true that the Occupy movement has been put on a watch list or even the terrorist list which might account for the high bail. I have not been able to confirm that. But it seems that some inference of that sort was used in getting bail set at a quarter of a million dollars. If so, the government is confusing (intentionally or otherwise) the Occupy movement which is a political movement within the system allowed and encouraged by the U.S. Government — with the sovereign citizen movement for which I have taken a lot of heat.

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Modern Day Rosa Parks Jailed as Domestic Terrorist: God-Fearing Woman Exposes Foreclosure Fraud

Edstrom_MortgageSecuritization_POSTER_17_x_22_v4_1Modern Day Rosa Parks Jailed as Domestic Terrorist: God-Fearing Woman Exposes Foreclosure Fraud

By Daniel Edstrom
DTC Systems, Inc.

From Charles Koppa

Modern Day Rosa Parks Jailed As Domestic Terrorist:

God-Fearing Woman Exposes Foreclosure Fraud

Who:              Family and Friends of Barbara Bratton, Homeowners’ Rights Advocate

What:             Pre-Preliminary Conference (Court Hearing)

When:            Monday, June 24, 2014, 8:30 a.m.

Where:          Dept. S22, San Bernardino Superior Court

351 N. Arrowhead, San Bernardino, CA. 92415 Map

Ignoring well-documented cases of fraud and abuse that continue to plague the home mortgage industry, the City of Ontario Police Department has instead set its sights on Barbara Bratton, 55, jailed as a domestic terrorist for challenging the validity of property records used to foreclose on her loan.  A pre-preliminary conference is set for Monday, June 24 at 8:30am in San Bernardino Superior Court, 351 N. Arrowhead, San Bernardino, CA 92415.  Homeowners’ rights advocates will be on hand to show support.

Background:

Barbara Bratton, a life-long resident of Ontario, California and an outstanding community member, was the victim of an illegal foreclosure on her family home of 40 years.  Since 2008 she has conducted a tireless and well-documented campaign to expose the land title fraud on her home.  An important piece in this complex case came last year, when a Lending Processing Services (LPS) executive pled guilty to filing more than a million fraudulent property documents in county recorder’s offices across the country.  The fraud on the Bratton home was linked to the suit.  Yet the LPS scheme masked a more insidious crime: the securitization of nearly all home loans since 1996, making it impossible to determine who, if anyone, actually owns the note on a home.

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