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BANK OF NEW YORK MELLON v. FAULK | “Capacity, Possession of the fourth page of the note, which includes a blank endorsement”

BANK OF NEW YORK MELLON v. FAULK | “Capacity, Possession of the fourth page of the note, which includes a blank endorsement”


Via: Prof. Adam Levitin

You have to read Do We Have a Fraud Problem? The Case of the Mysteriously Appearing Allonge, to understand where this is coming from but here is a sample of what the professor says about the case below:

Which brings us to BONY v. Faulk. In this case, the foreclosure filing included a 3 page note. The note lacked endorsements connecting the originator to BONY as trustee for the foreclosing securitziation trust. This set up a motion to dismiss on the grounds that BONY didn’t have any right to do anything–it had no connection with the note.

But wait!  Suddenly BONY’s attorney tells the court that she is in possession of the fourth page of the note, which includes a blank endorsement. Puhlease…  What a ridiculous deus ex machina ending. Are we do believe that this attorney filed 3 pages of the note, but not the 4th? If so, I sure hope she’s not billing for that screw up.

But here’s what perplexes me. Suppose that an allonge is produced. How are we going to know when that allonge was created or that it even relates to the note in question? (Just so everyone’s clear–if the endorsement were created later, then BONY as trustee for CWABS 2006-13 trust had no standing at the time the action was filed because the trust didn’t own the note at that time.) How do we know that this attorney isn’t engaged in fraud on the court (and a host of other violations of state and federal law)?

And this isn’t even getting into the question of whether the PSA at issue requires specific endorsements, not endorsements in blank. As it turns out that’s a problem in this particular case. Here’s the PSA for CWABS 2006-13 trust.  Section 2.01(g)(1) provides that the Depositor deliver to the trustee:

the original Mortgage Note, endorsed by manual of facsimile signature in blank in the following form: “Pay to the order of _______ without recourse”, with all intervening endorsements that show a complete chain of endorsement from the originator to the Person endorsing the Mortgage Note…

[ipaper docId=58072124 access_key=key-5pqgrklvsxpy24zpled height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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PART ll – This time, David (homeowner) fights Goliath (Bank of America) in mortgage fiasco — and wins

PART ll – This time, David (homeowner) fights Goliath (Bank of America) in mortgage fiasco — and wins


By now everyone has pretty much seen the viral [VIDEO] of a Florida Couple Foreclosing On Bank Of America

TampaBay.com-

(Let me interrupt this story briefly to point out that the “local counsel” in this story is the notorious David J. Stern law firm, whose slipshod handling of mortgage documentation in its rich niche of representing big banks in home foreclosure proceedings is now infamous nationwide.)

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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[VIDEO] Florida Couple Forecloses On Bank Of America

[VIDEO] Florida Couple Forecloses On Bank Of America


Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank?

Well, it has happened in Florida and involves a North Carolina based bank.

Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff’s deputies foreclose on the bank.

It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn’t owe a dime on their home.

Continue reading …DigTriad

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Foreclosure Mill Sets Off Yet More Florida Counties Into a Nightmare

Foreclosure Mill Sets Off Yet More Florida Counties Into a Nightmare


from the NapleNews:

“It’s really going to bring the courts to its knees,” Allen said. “The court is going to have to find some creative ways to dispose of these cases.”

In Collier County alone, Stern’s firm had more than 1,700 active cases. In Lee County, there are more than 4,500.

“Lee’s a nightmare, especially when you throw the ‘rocket docket’ in there,” Allen s

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