By Daniel Edstrom
DTC Systems, Inc.
The following was just posted on Neil Garfield’s blog, livinglies.wordpress.com. It is reposted here with the following comments. These are fabricated documents placed into the title record at the county recorders. In non-judicial states these documents do not need to be recorded to foreclose as those foreclosing can instead file a judicial foreclosure and prove their claim. Because they have no claim and cannot prove it, they knowingly, willingly and without any regard for the consequences, choose to corrupt the land title records instead. To read about this choice, read the Hooker vs. BofA ruling from a Federal District Court judge out of Oregon: Hooker-v-BofA_and_MERS – Congratulations to Oregon Attorney James Stout for his work on this case.
From Neil Garfield and Lynn Szymoniak (see Lynn Szymoniak in action on 60 Minutes here: http://www.cbsnews.com/8301-504803_162-20049744-10391709.html)
EDITOR’S NOTE (Neil Garfield): We know the foreclosures were gross misrepresentations of fact to the Courts, to the Borrowers and to the Investors. This article shows the crossover between the MegaBanks — sharing and diluting the responsibility for these fabrications as they went along. If you are talking about one big bank you are talking about all the megabanks.
The evidence is overwhelming. The reasons are many. But the fundamental theme here is that Banks are committing widespread fraud using the appearance of credibility just because they are banks.
Thus the strategy of pushing hard in discovery and persevering through adverse rulings appears to be getting increasing traction. Every time anyone, including judges, take a close look at this mess the conclusion is the same — the Banks’ foreclosures have been a sham. The homeowners still legally own their home and the lien is unenforceable or non-existent.
What part of the obligation of the borrower still exists? To whom is it payable? These are questions the Banks as servicers refuse to answer. It’s a simple set of questions that never had any bite to them until now.
From Lynn Szymoniak
Bank of America
JP Morgan Chase
Lender Processing Services
Action Date: August 6, 2011
Location: Jacksonville, FL
An examination of over 5,000 Mortgage Assignments to Washington Mutual
Trusts shows that these Trusts (WaMu, WMALT and WMABS) used Mortgage
Assignments signed by employees of JP Morgan Chase to foreclose. The
most prolific of the Chase signers, all from Jacksonville, Florida,
include Elizabeth Boulton, Margaret Dalton, Barbara Hindman, Patricia
Miner, Roderick Seda and Shelley Thieven. These Chase employees sign
as MERS officers on behalf of at least 30 different mortgage companies
to convey mortgages AND NOTES to Washington Mutual trusts that closed
In the vast majority of these cases, Bank of America is the Trustee.
Because the original loan documents are missing, Bank of America
allows Chase to make up new documents as needed to foreclose. The vast
majority of these Assignments state that the Trusts acquired these
mortgages in 2009 and 2010.
There are two separate frauds here:
1. not having the documents despite the promises to investors that the
documents were obtained and safely held; and
2. fabricating the replacement documents to foreclose.
In almost every case, Bank of America is the Trustee.
Did the FDIC just not notice any of this? There are thousands of these
specially-made Assignments signed by Chase employees for WaMu, WMALT
and WMABS trusts used across the country.
When Bank of America did not use documents fabricated by Chase to
foreclose, it used documents fabricated by LPS in Dakota County, MN.