White Paper
UNDERSTANDING CURRENT ASSIGNMENT VERIFICATION PRACTICES
The scrutiny of the completeness of collateral review and valid assignment chains has hit the mortgage industry hard, primarily because the industry went from a securitization process that didn’t require assignments to be recorded to a heavily scrutinized process requiring complete chains to be recorded at the county. This has made compliance extremely difficult for many lenders and others, especially because the industry went for so many years without this level of scrutiny. As a result, most lenders-servicers have actually inherited these problems rather than caused them directly
The result is a new industry-wide focus on assignment verification as part of the mortgage assignment process. This verification is accomplished by conducting a thorough collateral documentation review and mortgage/assignment chain audit in order to verify and execute mortgage assignments.
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Firms like NW Trustees are following a chain of endorsement and assignments. The chain is broken. NW Trustees is assigning they ahve satisfactory knowledge of the assignment from no where to them. It appears NW Trustees (RCO) is making up their assignments without personal knowledge without a chain of assignments.
This is why we are suing them. When we have enough participants we will launch a joinder. This will make suing more affordable and yet the borrower/participant will benefit more than in a traditional class action. We are looking for anyone who has been foreclosed upon in the last 6 years, no matter what point along the continuum they are….yes that means post foreclosure eviction too!
This entity NTC is not sending the paper despite numerous attempts to obtain a copy by giving private data – and statements that it was sending an email with the paper . . .
The bankster assignment of mortgage concerns are a red herring.
The Supreme law of the land is in force and applicable as set out by the United States Supreme Court in Carpenter v. Longan, 83 U. S. (16 Wall.) 271, 274, 275 (1872)
Online source: http://supreme.justia.com/cases/federal/us/83/271/case.html
“The note and mortgage are inseparable; the former as essential, the latter as an incident. An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.” Carpenter v. Longan, 83 U. S.(16 Wall.) 271, 274 (1872)
The Supremacy Clause, Article VI, Clause (2) of the United States Constitution states:
“The Constitution, and the Laws of the United States which shall be made in Pursuance thereof. . .shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding.”
Meaning that federal law, such as that noted in Carpenter, prevails over state law if there is a conflict between the two.
This means that virtually all foreclosure actions resulting in eviction can be challenged and the properties recovered by those experiencing such wrongful foreclosures, and damages for the swindle can be awarded for such arrogant defiance of Federal Law, a knowing, willful, deliberate, and intentional practice utilized by the bankster scum bags to dispossess the People from their property.
The Supremacy Clause dictates that the rules set out in the Carpenter decision trump any state statute or state judicial ruling in conflict with those rules.
If the Mortgage (Security Deed) is sold/transferred/assigned ALONE, that act is a NULLITY and has no legal significance whatsoever. (See Carpenter)
“The mortgage [Security Deed] can have no separate existence.”
Carpenter v. Longan, 83 U. S.(16 Wall.) 271, 275 (1872)
An entity that does not own or hold the note/Promise and the incidental bound/attached-thereto Security writing has no power to make an assignment of, OR enforce either the note/Promise or the Security Deed; and
“The mortgage [Security Deed] can have no separate existence.”
Carpenter v. Longan, 83 U. S.(16 Wall.) 271, 275 (1872)
If the note/Promise and the Security Deed have been actually, physically, mechanically, separated, neither writing can be enforced separately.