|By: Cynthia Kouril Tuesday April 6, 2010 4:19 am
Imagine, if you will, a bank sets up a mortgage backed security. The security is backed by a trust that holds all the mortgages and notes. The trust document says that all of the mortgages that would be included in that particular security had to be transferred into the trust by a particular date. That date is long since passed.
You are now in foreclosure, and attached to the summons and complaint is a copy of an assignment of your mortgage, within the last few days before the date of the summons and complaint, transferring your mortgage into the trust. What does that all mean?
It could mean that the trustee did not actually own your mortgage and that all the money that you have paid on that mortgage that went to pay the holders of the security associated with that trust was paid to the wrong party.
Why? Because the mortgage was not transferred into the trust before your payments were directed to it. And the after the fact assignment doesn’t remedy it, because the trust was required to close the book on adding new mortgages into the trust, on a date long since passed. So, the trustee accepted payments from you even though your mortgage was not a part of that trust. You were paying the wrong party.
Then to add insult to injury, the trustee is trying to take your home away.
Oh, and the last minute assignment –may be a forgery. Ain’t that just the icing on the cake?
These are the cranium exploding allegations being made by white collar fraud expert Lynn Szymoniak, Esq.
In a letter to an Assistant United States Attorney, Ms. Szymoniak alleges
Ms. Szymoniak goes on to reveal that clerks at DOCX are signing these documents pretending to be employees of varies banks and other financial institutions. For example:
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