Supporting, Informing & Connecting People in Foreclosure

Mortgage Backed Security? One of Donte's Circles of Hell? Map of the Bermuda Triangle? You Decide.

Many thanks to my friend Dan for his impressive & creative cartography work!

After I closed on my home, the real action began...........

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Permalink Reply by L on October 27, 2009 at 7:45pm

This schematic has nothing on the one above by Dan!

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Permalink Reply by Arpad on October 27, 2009 at 9:19pm

Now try to explain this to a local Judge here in WPB Lisa!

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Permalink Reply by L on October 28, 2009 at 6:21am

Arpad,

I don't even understand this myself (does anyone)!

I doubt my opposition understands this.

I'm just going to file discovery requests pointed towards furthering my understanding of this roadmap to foreclosure.

No answers forthcoming from Plaintiff, as is what happened with my first request? I'm working on a second request for productions.

Maybe I can ask and ask and ask, then file a Motion to Compel?

My point is that I believe I have a right to know:

1) To whom do I allegedly owe this money they purport is owed to them?

2) Was I relieved of this alleged debt by the generosity of someone else (advance payments by servicer or Master servicer, insurance, etc)?

3) If I end up being legally indebted to Plaintiff for this alleged debt, have they assured the Court and me that I am protected against all other parties who hold a pecuniary (money) interest in this matter?

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Permalink Reply by Daniel Edstrom on October 31, 2009 at 1:02pm

"Nobody understands it" - that is the whole point! The transaction is too complicated to understand (for me) without a flowchart. I did this by doing the following (for my own case):

- Listing all companies or people involved with the loan transaction
- Listing all companies or people or things (certificates) involved with the securities transaction (from the SEC filings)
- Adding information from the allonges on the back of my note (provided by the servicer from a QWR)
- Determining the relationships between the companies (from SEC filings, loan documents and the information I learned from livinglies)
- This changes (weekly if not daily) from reading and understanding new information from the SEC filings and from livinglies

To understand the document, first look at the yellow and purple lines. They represent the Deed of Trust (or Mortgage) and the Promissory Note. Follow their journey and pay attention to what type of transfer (assignment) it is. If it is without recourse it means it is a one way sale with consideration (usually full or a slight discount). If it is with recourse it means their was (a) no sale and the note was pledged (probably with minimal or no consideration) and a repurchase obligation or possibly (b) that there was a "true" sale but with a repurchase obligation.

In my own case I found option (a) above but for Lisa's SEC filings I could only find (b). However, I spent a year researching mine and only a couple of hours on Lisa's.

The shapes outlined in red dashes could all be considered a party in interest and, in the case of litigation should probably all be added through JOINDER.

Remember that the SEC filings contain THOUSANDS of pages. For my own case I have been through some of the filings twice and have read numerous sections over and over but I have NOT gone through all of it. Most is gibberish that I cannot understand or has no meaning.

I have been working on mine for about one year. This one for Lisa was done quickly in a couple of hours by entering in basic information I could find in her SEC filings into the document I had already created for my own. Her information was actually quite different from mine and some of what is in this document is not entirely accurate or is from assumptions (like trying to hammer a circle into a square h***).

These are my opinions and this is NOT legal advice, nor can this document be used as evidence (nor would you want it to be).

Thanks,
Dan Edstrom
dmedstrom@hotmail.com

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Permalink Reply by stopGOVTwaste on March 22, 2010 at 7:42pm

Notice the fresh batch of lawsuits & MUNI-BOND scandals that are starting to come to light?

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Permalink Reply by stopGOVTwaste on March 22, 2010 at 7:43pm

... second verse - same as the first!

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Permalink Reply by Angry&NOT TAKING IT on June 26, 2010 at 4:22pm

nice job dan! thanks!
i think the intention of confusion in the transaction was the 1st line of defense - in a offense to rob the middle-class
1-bleed ALL the $$ that the victims [ homeowners HAHA! ] could possibly come up with.
2-to steal the said property [ a real perk for distressed debt buyers] while the victims body was rotting in the sun..

the perversion of the American Dream

ps dan did you do this in MS office ? did you create a template?