Deutsche Bank National Trust Co. foreclosed, hired a company to "trash out"

Deutsche Bank National Trust Co. foreclosed, hired a company to "trash out"

Deutsche Bank National Trust Co. foreclosed, hired a company to "trash out"

Family files lawsuit against bank, say Newaygo home was unfairly foreclosed

By John Agar | The Grand Rapids Press

April 27, 2010, 6:39AM

home press conference.jpgGrand Rapids Press File PhotoRick and Sherry Rought of Gowen. GRAND RAPIDS — Rick and Sherry Rought of Gowen paid cash for the old house, a $14,000 fixer-upper, for their daughter, Hannah, while she attended Ferris State University.

Seven months later, after the couple started repairs and moved in furniture, Deutsche Bank National Trust Co. foreclosed, hired a company to “trash out” the Roughts’ belongings, and changed locks and turned off utilities, according to a lawsuit filed Monday in U.S. District Court.

They believe that Deutsche, as trustee of Ameriquest Mortgage Securities Inc., didn’t realize the house, repossessed in 2006, was not subject to foreclosure.

It is a nightmare that has happened across the nation as the economy tanked, the couple’s attorney, Carlin Phillips, said at a press conference.

“It’s like the Wild West right now in the foreclosure industry,” he said.

Deutsche, however, said it played no role in the dispute, and that the alleged actions came under the purview of American Home Mortgage Serving, which took over service of the loan from Ameriquest.

Deutsche acts as a trustee and has an administrative role in such cases, but has “no beneficial ownership stake or interest in the underlying mortgage loans,” spokesman John Gallagher said.

The trust company holds legal title for the benefit of investors.

Continue reading….HERE

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9 Responses to “Deutsche Bank National Trust Co. foreclosed, hired a company to "trash out"”

  1. dcbreidenbach says:

    AHMSI again—–This operation is owned by W.L. Ross, a vulture distress asset hedge fund investor. Exclusive contract with LPS/DOCX. Query what did the foreclosure documennts look like? Were they prepared in Alpharetta georgia? See the admission of document error in LPS annual report.

    Abuse of process, attorney misconduct?

  2. dcbreidenbach says:

    I am happy to state that I wrote the letter to Fulton County Clerk of Courts requesting that investigation among others———–of the notary process that failed to assure proper signers and that failed to cause the individuals to attest the representative capacity supposedly verified in the notary attestation. Further, I sent a letter to SEC on same which was disregarded–I have the response on my telephone—-and then wrote a letter with copies of “many hands” documents to the LPS audit committee–one of whom promptly resigned—along with their outside auditor KPMG.

    This is the way that you can force them to address their failures. The regulatory failure is a violation of Sarbannes Oxley and requires disclosure—paper cuts work if battering rams do not.

  3. dinsfla says:

    David,
    You have been exposing this fraud for quite some time…you opened many eyes. I thank you.

    We will defeat them if we continue to voice our minds. Come together in MASS not one two hundred but in millions.

    Believe me, you…everyone is watching this blog. They know exactly who they are…:)

    DinSFLA

  4. dcbreidenbach says:

    Question ii now have is to whose attention do i raise the fact that the one securitization AHM 2004-4 trust——-involves failure to file “mortgage loan schedule” with SEC or Delaware UCC -although these filings are required by the Indenture. The failure to file these lists of included loans opens the process to re-allocation of proceeds of foreclosure and otherwise to AHMSIs best customers-rather than the true owners if they are even known.

    My guess is the arguable actual original beneficial owners of the trust corpus–the MBS holders—-were already paid out by various insurance and swaps TARP ———and then simply sold the residual interest in the MBS to distress asset people like Ross who is positioned to cause AHMSI to steer proceeds his way–because he owns AHMSI

    Question is :Was he at the table in 2003 when pre-bankrupt AHM in conjunction with Lehaman and the Bear set up the bogus packages of loans that secured the MBS. by all appearances the underlying loan “groups” partivcularly GroupI , were designed to fail due to inclusion of outrageously predatory promissory notes

  5. dinsfla says:

    When in doubt…notify any and all…you never know who’s hands this might fall on?

  6. tmccraw says:

    There is a house in our neighborhood I was considering making a bid on through a Realtor and they made the comment that it would have to be paid for in cash. Did the Gowen’s in the article not get a deed from the company when they paid for it? How is that handled? What will be the realtor and or lawyer fees? How long can I expect it to take before someone could move in without worrying if something like this could happen. It has sat vacant and been vandalized already.

  7. daniel hung says:

    This is my house , Deutsche bank did foreclosure in my house , in april 2010. I was in the midle of one modification , ocwen bank, was working in my proccess , but there was a sale day, , the bank try to stoped it but , for some reason if was not posoble. the judge in the case did not want to stop the sale day. my modification in procces was not take in consideration, I DO WANT TO STAY WITH THE
    HOUSE, I will like be consider for a modification or a trial
    payment, please give me the oportunity, to safe my house, I have children that need a roof, please i beg to you for for my house.
    my loan No is 0038798807
    my phone is 786 970 3263
    please contac me at my Email, or my phone, thanks for your Help.

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