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.

Continue reading “Glaski vs Bank of America NA et al – FOR PUBLICATION”

Homeowner Takes Goldman Sachs to Task and Gets a Favorable Loan Modification in Bankruptcy

Homeowner Takes Goldman Sachs to Task and Gets a Favorable Loan Modification in Bankruptcy

By Daniel Edstrom
DTC Systems, Inc.

This bankruptcy case is a few years old (bankruptcy filed on 6/11/2007 and loan mod dated approx. 2009).  The Homeowners fight to find the identity of MTGLQ Investors, LP – a Goldman Sachs subsidiary.  They end up forcing Goldman Sachs to abandon foreclosure and accept a loan modification.  This is a complex case and the debtors acted as their own attorney.

Read the Motion for Relief from Stay here:  http://dtc-systems.net/wp-content/uploads/2012/04/22-Motion-for-Relief-from-Stay.pdf

 – filed by Attorneys for WMC MORTGAGE CORP., its successors and/or assigns

Read the Amended Motion for Relief from Stay here: http://dtc-systems.net/wp-content/uploads/2012/04/34-Amended-Motion-for-Relief-from-Stay.pdf

 – filed by Attorneys for MTGLQ INVESTORS, L.P., its successors and/or assigns

(Yes that is right, one creditor files the motion, then another creditor amends the motion)

Read the Amended Motion for Relief from Stay exhibits here: http://dtc-systems.net/wp-content/uploads/2012/04/34-Amended-Motion-for-Relief-from-Stay_Exhibits.pdf

Read the Motion for Loan Mod Approval here:  http://dtc-systems.net/wp-content/uploads/2012/04/96-Motion-for-Loan-Mod-Approval.pdf

Read the Notice of Recorded Loan Mod Agreement here:  http://dtc-systems.net/wp-content/uploads/2012/04/102-Notice-of-Recording-of-Loan-Mod-Agreement.pdf

Join Kamala Harris and Co-Sponsor the Homeowners Bill of Rights!

Join Kamala Harris and Co-Sponsor the Homeowners Bill of Rights!

Friend us on Facebook | Follow @calorganize
 
This week, I stood with Assembly Speaker John Pérez and Senate President pro Tem Darrell Steinberg to introduce the California Homeowners Bill of Rights, which will bring fairness and transparency to mortgages in our state.

Today, I’m writing to ask your help with this work.Powerful special interests will oppose closing the mortgage loopholes that hurt homeowners. We need your help to get this bill to the governor’s desk.

Pledge to join myself and the ReFund California Coalition as a Co-Sponsor to pass the California Homeowners Bill of Rights. We’ll keep you informed and updated as the legislation advances. Continue reading “Join Kamala Harris and Co-Sponsor the Homeowners Bill of Rights!”

Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

 

 

 

 

 

Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted

By Martin Andelman
Mandelman Matters

Reposted from http://mandelman.ml-implode.com/2012/02/wells-fargo-bank-and-patricia-martin-part-2-a-bank-that-cannot-be-trusted/

Okay, so here’s a quick recap, in case you’re coming in late, followed by an update that demonstrates very clearly why I say that Wells Fargo Bank and the law firm,  Anglin, Flewelling, Rasmussen, Campbell & Trytten LLP… cannot be trusted. 

First the Short Recap…

Patricia Martin, age 65, having lived in her home for 44 years, had major back surgery, so she had to send her daughter into the bank to make two payments.  There were late fees of about $80 a month, but the person at Wells Fargo said they could be paid later, and accepted the check for the two payments.

The following month, October, Patricia’s home heating system required major repairs, so the next time she was able to make her mortgage payment was the following month, November.  But, when she tried to make the payment, the bank said that she hadn’t made the September payment, and in fact, she was in default, and had to come up with $4829.96 by November 30th, or the bank would foreclose. Continue reading “Wells Fargo Bank and Patricia Martin Part 2 – A Bank that Cannot Be Trusted”

Texas Homeowner Survives Motion to Dismiss Against Bank of America

Texas Homeowner Survives Motion to Dismiss Against Bank of America

By Daniel Edstrom
DTC Systems, Inc.

Thanks to Deontos for this ruling.  Homeowners in Texas survive motion to dismiss in Swim vs. Bank of America et. al.

Excerpt 1:

Defendants represented to Plaintiffs that they would not foreclose during the loan modification process—but they did. Therefore, since Defendants foreclosed during the loan modification process without contacting Plaintiffs to inform them that their trial modification had been rejected, Plaintiffs state a claim for breach of contract.

Excerpt 2: 

Section 392.304(a)(19) prohibits a debt collector, in debt collection or obtaining information concerning a consumer, from using a fraudulent, deceptive, or misleading representation or deceptive means to collect a debt or obtain information concerning a consumer. Plaintiffs allege BOA representatives informed Plaintiffs they had provided the required documents and that it would not foreclose during the loan modification process, that BOA and/or BAC repeatedly required documents Plaintiffs already provided, and that BAC foreclosed on the Property during the loan modification process, despite representations that it would not, because Plaintiffs allegedly did not provide documents Plaintiffs claim they provided. The Court finds that such facts state a claim under TDCPA § 392.304(a)(19), and Defendants’ Motion to Dismiss this claim under that section of the TDCPA is thus DENIED. Continue reading “Texas Homeowner Survives Motion to Dismiss Against Bank of America”