Harold Kaplan - FORECLOSURE FRAUD

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U.S. banks offered deal over lawsuits – FT

U.S. banks offered deal over lawsuits – FT


REUTERS-

Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that is proposed to limit part of their legal liability, the Financial Times reported on Tuesday.

The FT said state prosecutors have proposed a deal to limit part of the banks’ liability in return for a multibillion-dollar payment.

The talks aim to settle allegations that banks including Bank of America (BAC.N), JPMorgan Chase (JPM.N), Wells Fargo (WFC.N), Citigroup (C.N) and Ally Financial (GKM.N). seized the homes of delinquent borrowers and broke state laws by employing so-called “robosigners”, workers who signed off on foreclosure documents en masse without reviewing the paperwork.

[REUTERS]

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LETTER | Iowa AG: Banks may face criminal liability after robo-signing settlement

LETTER | Iowa AG: Banks may face criminal liability after robo-signing settlement


LIES: Didn’t we hear this before?

HW-

The eventual robo-signing settlement between the 50 state attorneys general and major mortgage servicers will not release these firms from any criminal and not all civil liabilities, according to Iowa AG Tom Miller.

Rep. Jerrold Nadler (D-N.Y.) and 20 members of the New York congressional delegation sent a letter to Miller Wednesday, chiding him for allegedly ousting New York AG Eric Schneiderman from the talks.

“We are deeply troubled by your recent action to silence New York’s voice by removing New York State Attorney General Eric Schneiderman from an executive committee negotiating a nationwide settlement with the banks,” Nadler wrote.

[…]

“While a final multistate case release has not been negotiated and the release is a work in progress, attorneys general on the negotiation committee are not preparing to, nor will they agree to, release the banks from all civil liability,” Miller wrote in his letter to Nadler. “We are also not preparing to, nor can we agree to, release the banks from any criminal liability.”

[HOUSING WIRE]

[ipaper docId=63834830 access_key=key-1pa07f0fvx22a1cl256d height=600 width=600 /]

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Memo: BofA to Sell Correspondent Mortgage Business

Memo: BofA to Sell Correspondent Mortgage Business


WSJ-

From: Home Loan News Sent: Wednesday, August 31, 2011 4:19am Subject: Important Message From Barbara DeSoer

To All IMS Associates

I wanted to provide this team with information about a strategic announcement our Home Loans business will make today that is consistent with our ongoing efforts to align the business to the bank’s customer-driven strategy.

Earlier this year, when we split out the Legacy Asset Servicing business, we did so in order for our team to focus on the future of the home loans business. We have made significant progress over the past several months and are taking steps to further position our business to serve the needs of the bank’s 58 million households and attract new mortgage customers with the potential to support growth across the franchise.

[WALL STREET JOURNAL]

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BREAKING: Bank of America to Exit Mortgage Business

BREAKING: Bank of America to Exit Mortgage Business


It’s going to tank!

WSJ-

Bank of America Corp. intends to sell its correspondent mortgage business, as the troubled lender looks to narrow its focus and bolster its financial strength, said people familiar with the situation.

Employees could be notified as soon as Wednesday that the lender has decided to exit the correspondent channel because it no longer fits with the long-term strategy for its mortgage unit. The company decided to get out roughly four to six weeks ago, following a review led by mortgage chief Barbara Desoer. The business employs more than 1,000 people.

[WALL STREET JOURNAL]

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Federal Housing Finance Agency Action Regarding Court Consideration of Proposed Bank of America Settlement

Federal Housing Finance Agency Action Regarding Court Consideration of Proposed Bank of America Settlement


For Immediate Release

Contact:
Corinne Russell (202) 414-6921
Stefanie Johnson (202) 414-6376

August 30, 2011

Federal Housing Finance Agency Action Regarding
Court Consideration of Proposed Bank of America Settlement

The Federal Housing Finance Agency (FHFA), in its capacity as conservator of Fannie Mae and Freddie Mac (the Enterprises), today filed an Appearance and Conditional Objection regarding the proposed settlement between Bank of America and a consortium of 22 investors being considered by a court in New York. This pleading was filed to obtain any additional pertinent information developed in the matter. The conservator is aware of no basis upon which it would raise a substantive objection to the proposed settlement at this time. In fact, FHFA considers it positive that the proposed settlement includes subservicing requirements, specific terms for the servicing of troubled mortgages and the curing of certain document deficiencies. Additionally, FHFA is encouraged that a number of significant market participants support the proposed settlement.

Due to its duty to preserve and conserve Enterprise assets, the conservator believes it prudent not only to receive additional information as it continues its due   diligence of the proposed settlement, but also to reserve its capability to voice a substantive objection in the unlikely event that necessity should arise.

###

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.7 trillion in funding for the U.S. mortgage markets and financial institutions.

[ipaper docId=63608461 access_key=key-28qkwf1hpfo6v93rjo0r height=600 width=600 /]

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Nadler and NY Delegation Assail Iowa Attorney General for Excluding NY Attorney General from Mortgage Settlement Talks

Nadler and NY Delegation Assail Iowa Attorney General for Excluding NY Attorney General from Mortgage Settlement Talks


Tuesday, 30 August 2011

NEW YORK, NY – Today, Congressman Jerrold Nadler (D-NY), the ranking Democrat on the Judiciary Subcommittee on the Constitution, and 20 members of New York’s congressional delegation chided Iowa Attorney General Tom Miller for his dismissal of New York Attorney General Eric Schneiderman last week from ongoing mortgage settlement negotiations, demanding that Attorney General Miller explain how he intends to ensure that New York’s interests are represented during the remainder of the negotiation talks.  The national committee of state Attorneys General are working to settle numerous complex legal matters arising from the 2008 housing collapse.


“As members of the New York congressional delegation, we are united in fighting for a fair resolution of the housing crisis that has devastated tens of thousands of families across our state,” the members wrote.  “That is why we are deeply troubled by your recent action to silence New York’s voice by removing New York State Attorney General Eric Schneiderman from an executive committee negotiating a nationwide settlement with the banks.  We ask that you explain how New York’s interests will be protected as negotiations move forward.”

Below is the full text of the letter:

August 30, 2011

The Honorable Tom Miller
Attorney General
1305 East Walnut Street
Des Moines, IA 50319

Dear Attorney General Miller:

As members of the New York congressional delegation, we are united in fighting for a fair resolution of the housing crisis that has devastated tens of thousands of families across our state.  That is why we are deeply troubled by your recent action to silence New York’s voice by removing New York State Attorney General Eric Schneiderman from an executive committee negotiating a nationwide settlement with the banks.  We ask that you explain how New York’s interests will be protected as negotiations move forward.

New York’s homeowners and investors have been hit hard by the economic impact of wrongdoing related to the mortgage crisis.  According to the FBI, New York ranked as one of the top ten states for known or suspected mortgage fraud activity for two consecutive years.  It also was one of the top ten states for reports of mortgage fraud across all originations in 2010.  Undoubtedly, our state, the third largest in the nation, deserves a seat at any negotiating table that could potentially limit our state’s ability to investigate and penalize wrongdoing done within our borders.

Raising legitimate concerns about elements of the proposed settlement is a responsibility of every member of the executive committee and should never be the basis for silencing a viewpoint.  Your removal of Attorney General Schneiderman sets a dangerous precedent for other attorneys general who, out of fear of what might happen, may choose silence over voicing valid concerns with particular aspects of the proposed settlement.  Moreover, your attempt to banish opposition rather than address varying viewpoints undermines both the validity of the process and any settlement reached by the committee.

New York deserves adequate representation during the remainder of the mortgage settlement negotiations.  We look forward to hearing how you will ensure that New York’s voice is heard.

Sincerely,

Jerrold Nadler
Carolyn Maloney
Maurice Hinchey
Joseph Crowley
Edolphus Towns
Carolyn McCarthy
Jose Serrano
Gary Ackerman
Timothy Bishop
Eliot Engel
Charles Rangel
Nita Lowey
Louise Slaughter
Paul Tonko
Gregory Meeks
Bill Owens
Yvette Clarke
Kathleen Hochul
Brian Higgins
Nydia Velazquez
Steve Israel

###

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Matt Stoller: Power Politics – What Eric Schneiderman Reveals About Obama

Matt Stoller: Power Politics – What Eric Schneiderman Reveals About Obama


Absolute Must Read…

Naked Capitalism-

A lot of people have asked why New York Attorney General Eric Schneiderman is going after the banks as aggressively as he is. It’s almost unbelievable that one lone elected official, who happens to have powerful legal tools at his disposal, is doing something that no one with any serious degree of power has done. So what is the secret? What kind of machinations is he undertaking that no one else has been able to do?

I’ve known Schneiderman for a few years, back when he was a state Senator working to reform the Rockefeller drug laws. And my answer to this question is pretty simple. He wants to. That’s it. Eric Schneiderman is investigating the banks because he thinks it’s the right thing to do. So he’s doing it. This guy has thought about his politics. He wrote an article about how he sees politics in 2008 in the Nation, and in his inaugural speech as NY AG he talked about the need to restore faith in both public and private institutions. Free will still counts for something, apparently.

[NAKED CAPITALISM]

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The Man Who May Bring the Banksters to Justice (If They Don’t Break His Knees First)

The Man Who May Bring the Banksters to Justice (If They Don’t Break His Knees First)


New York State Attorney General Eric Schneiderman may will go down in history as the most important public official in reforming the corrupt financial system!!

HuffPO-

New York State Attorney General Eric Schneiderman may go down in history as the most important public official in reforming the corrupt financial system that caused the great Financial Crisis of 2008 and holding the perps responsible — if he can hold out against pressure from Wall Street, the Federal Reserve, and the Obama administration to give Wall Street a “Get Out of Jail Free” card.

Eric Schneiderman has played a key role in the investigation of foreclosure fraud and robo-signing by 50 state attorneys general against JP Morgan Chase, Bank of America, Wells Fargo, Citigroup, and Ally Bank. Reportedly, most of of the attorneys general — with the support of the Obama administration — are advocating a $20 billion settlement with the banks (less than a year’s worth of Wall Street’s bonus pool) in exchange for broad immunity from future investigations and prosecutions, not only of illegal foreclosures but of a wide range of fraudulent activity in connection with mortgage securitization over the past decade.

[HUFFINGTON POST]

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FDIC Objects to Bank of America’s Proposed $8.5 Billion Mortgage-Bond Pact

FDIC Objects to Bank of America’s Proposed $8.5 Billion Mortgage-Bond Pact


There will be NO settlement!

Via Bloomberg

The FDIC objected to Bank of America Corp. (BAC)’s proposed mortgage-bond settlement.

Filing Courtesy of Naked Capitalism & Webber3292

[ipaper docId=63528705 access_key=key-zs0zok86w3cc6fo3fte height=600 width=600 /]

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Under fire, N.Y. AG wins plaudits in mortgage probe

Under fire, N.Y. AG wins plaudits in mortgage probe


Miller said he invited Schneiderman’s office in June to be part of a smaller negotiating committee, but Schneiderman declined, indicating he “would possibly pursue a different direction.”

LOL! this is telling him nicely to take his “$maller Negotiating Committee” and stuff it, I ain’t For $ale!

Baltimore Sun-

NEW YORK (Reuters) – The New York attorney general’s booting from a panel of state officials negotiating a settlement of mortgage abuses may shore up his political base and enforcement agenda.

Eric Schneiderman’s resistance to a possible $25 billion settlement being negotiated with the largest mortgage servicers has already drawn praise from groups representing minorities and organized labor.

“Anybody who takes on the banks is a hero,” political consultant Hank Sheinkopf said. “Whether he gets anything done is another story. In politics, it’s not what you do, it’s how you do it.”

[BALTIMORE SUN]

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NY AG Eric T. Schneiderman Committed To Full Investigation into Banks’ Misconduct

NY AG Eric T. Schneiderman Committed To Full Investigation into Banks’ Misconduct


Via an email from his office-

You might have been following the latest developments related to the national settlement of the mortgage probe, including this story in today’s Huffington Post about our tough fight for a comprehensive resolution to this crisis.

Let me tell you directly: I am deeply committed to pursuing a full investigation into the misconduct that led to the collapse of America’s housing market, and to seeking a resolution that gives homeowners meaningful relief, allows the housing market to begin to recover, and gets our economy moving again.

Our ongoing investigation into the housing crisis cannot be shut down to accommodate efforts to settle quickly and give banks and others broad immunity from further legal action. If you have any thoughts or concerns about this critical issue, please contact me at 1-800-771-7755, or send a message via Facebook or Twitter.

Thank you for your support,

Eric T. Schneiderman
Attorney General

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Obama Goes All Out For Dirty Banker Deal

Obama Goes All Out For Dirty Banker Deal


Dirty, Dirty, Dirty…

TAIBBLOG

A power play is underway in the foreclosure arena, according to the New York Times.

On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the practice of chopping up assets like mortgages and converting them into saleable securities – that led up to the financial crisis of 2007-2008.

On the other side is the Obama administration, all the banks, and, now, apparently, all the other state attorneys general.

[ROLLINGSTONE]

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BREAKING: New York Removed From State Group Working on Foreclosure Fraud Settlement Deal

BREAKING: New York Removed From State Group Working on Foreclosure Fraud Settlement Deal


Truly remarkable that no one can convince Attorney General Eric Schneiderman to agree to back down! NY should support his team in any way, shape and form. He is NOT willing to let go of what is right for the NY people!

Aug. 23 (Bloomberg) — The New York Attorney General’s office was removed from a group of state attorneys general that is working on a nationwide foreclosure settlement with U.S. banks, according to a state official.

New York Attorney General Eric Schneiderman, who has raised concern about terms of a possible deal, was removed from the executive committee of state attorneys general, according to an e-mail today from Iowa Assistant Attorney General Patrick Madigan.

[BLOOMBERG]

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Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal

Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal


Gretchen Morgenson

Eric T. Schneiderman, the attorney general of New York, has come under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices, according to people briefed on discussions about the deal.

In recent weeks, Shaun Donovan, the secretary of Housing and Urban Development, and high-level Justice Department officials have been waging an intensifying campaign to try to persuade the attorney general to support the settlement, said the people briefed on the talks.

Mr. Schneiderman and top prosecutors in some other states have objected to the proposed settlement with major banks, saying it would restrict their ability to investigate and prosecute wrongdoing in a variety of areas, including the bundling of loans in mortgage securities.

[NY TIMES]

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To put it another way, it’s a throwdown! Geithner and the Fed versus New York Attorney General Eric Schneiderman

To put it another way, it’s a throwdown! Geithner and the Fed versus New York Attorney General Eric Schneiderman


Bloomberg-

Bank of America Corp. (BAC) may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, according to two people with direct knowledge of the talks.

The firm may pursue an accord with most of the 50 state attorneys general, even if it omits New York’s Eric Schneiderman and at least two other states who are opposed because a deal would impede related inquiries, said one of the people. Negotiations on a broad settlement stalled after Schneiderman indicated he wouldn’t let it block his probe into the bundling and sale of mortgages, said the people, who declined to be identified because talks are private.

[BLOOMBERG]

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Delaware Attorney General Beau Biden also intends to intervene in the Bank of America case

Delaware Attorney General Beau Biden also intends to intervene in the Bank of America case


Lets not forget some of the trusts in the settlement were established under Delaware law…

(Reuters) –

A day after New York’s attorney general called Bank of America Corp’s (BAC.N) $8.5 billion mortgage-backed securities settlement “unfair” and “inadequate”, another state attorney general hinted he may also oppose the deal.

Delaware Attorney General Beau Biden plans on filing a motion to intervene next week, said an attorney from his office on Friday.

[REUTERS]

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New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal

New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America’s Mortgage Deal


First broke on this site last year, a Bank of America executive, Linda DeMartini, testified that Countrywide routinely did not convey crucial documents for loans sold to investors in KEMP v. Countrywide.

HuffPO

WASHINGTON — New York Attorney General Eric Schneiderman asked a state judge to reject a proposed $8.5 billion settlement agreement over soured loans between Bank of America and a group of investors, claiming in court documents that a separate bank representing the investors committed fraud for failing to ensure that the mortgage securities were created in accordance with state law and for failing to act in the investors’ best interest.

Bank of New York Mellon, the trustee representing the investors, “knowingly, repeatedly, and consistently” misled investors into thinking that the mortgage bonds were created properly, Schneiderman said in court documents. BNY Mellon also put its own interests before those of the investors it’s supposed to represent, he said.

[HUFFINGTONPOST]

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Prof. Levitin | About Those Notes…Evidence of Securitization Fail

Prof. Levitin | About Those Notes…Evidence of Securitization Fail


You’re either pregnant or you ain’t. Can’t be both!

Credit Slips-

Since last October, shortly after the robosigning scandal broke, I’ve been talking until I turned blue in the face about robosigning being the tip of the iceberg with mortgage problems and that the real issue was chain of title. Robosigning appeared to be an almost unexpected deposition by-product; the real goal in the depositions that uncovered the robosigning was exposing the backdating of mortgage endorsement. And that they did–the notaries’ whose seals were on the documents didn’t have their commissions when the assignments supposedly took place.

But why would anyone bother backdating mortgage assignments? …


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Fortune Confirms Pervasive Defects in Bank of America Mortgage Documents

Fortune Confirms Pervasive Defects in Bank of America Mortgage Documents


Naked Capitalism-

Do you remember the brouhaha over testimony by a senior executive in Countrywide’s mortgage servicing unit last year? It called into question whether mortgages had been conveyed properly to securitizations, which in turn would impair Bank of America’s ability to foreclose.

Let me refresh your memory. As we wrote last year:

Testimony in a New Jersey bankruptcy court case provides proof of the scenario we’ve depicted on this blog since September, namely, that subprime originators, starting sometime in the 2004-2005 timeframe, if not earlier, stopped conveying note (the borrower IOU) to mortgage securitization trust as stipulated in the pooling and servicing agreement….

As we indicated back in September, it appeared that Countrywide, and likely many other subprime orignators quit conveying the notes to the securitization trusts sometime in the 2004-2005 time frame. Yet bizarrely, they did not change the pooling and servicing agreements to reflect what appears to be a change in industry practice. Our evidence of this change was strictly anecdotal; this bankruptcy court filing, posted at StopForeclosureFraud provides the first bit of concrete proof. The key section:

As to the location of the note, Ms. DeMartini testified that to her knowledge, the original note never left the possession of Countrywide, and that the original note appears to have been transferred to Countrywide’s foreclosure unit, as evidenced by internal FedEx tracking numbers. She also confirmed that the new allonge had not been attached or otherwise affIXed to the note. She testified further that it was customary for Countrywide to maintain possession of the original note and related loan documents.

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At Bank of America, more incomplete mortgage docs raise more questions

At Bank of America, more incomplete mortgage docs raise more questions


Abigail Field-

Fortune examined hundreds of foreclosure documents to determine the validity of mortgage securitizations after Bank of America debunked testimony about them last fall. The results raise more questions than they answer.

Are Countrywide mortgage-backed securities really mortgage-backed? Do banks even have the legal right to foreclose on certain homes?


Check out the related posts below …

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FULL DEPOSITION TRANSCRIPT OF COUNTRYWIDE BOfA LINDA DiMARTINI

FULL DEPOSITION TRANSCRIPT OF COUNTRYWIDE BOfA LINDA DiMARTINI


EXCERPTS:

Q So the original —
5 A — and I’ve been to her office.
6 Q — the original was located in your office?
7 A Yes.
8 Q Where’s your office located?
9 A Simi Valley, California.
10 Q And has the original of this allonge remained in your
11 office until you appeared here today?
12 A We had sent it on to — to our attorneys. They were in
13 possession of it.
14 Q And again, who do you believe is the holder of the note
15 and mortgage here?
16 A Well, Countrywide — Bank of America — whatever we’re
17 calling ourselves these days, we are Bank of America now — we
18 originated this loan. It was originated via a broker and it’s
19 really always been a Countrywide loan. The investor is Bank
20 of New York. We are the servicer of the loan.
21 Q Now, when you say it’s really a Countrywide loan, wasn’t
22 it sold? Wasn’t this loan securitized and ultimately sold —
23 sold to this trust?
24 A Right, it would have been securitized and sold. They are
25 the investors of the loan. But we are the ones that would

<SNIP>

9 A Who is in possession of the note? We have the note in our
10 origination file.
11 Q So — so Bank of New York as trustee does not hold the
12 note, is that correct, or is not in possession of the note?
13 A The original note to my knowledge is in the origination
14 file.
15 Q Where is the — do you have it here today?
16 A No, I don’t have it with me here today.
17 Q So you don’t have the note?
18 A It’s in our office.
19 Q So it’s in your office, it’s not with this trust that owns
20 the — that’s supposedly holds the — or is the owner of this
21 note, is that correct?
22 A That’s correct.
23 Q And your testimony is that this allonge was never
24 submitted to — it was never in the possession of Bank of New
25 York as trustee for the certificate holder, is that correct?

<SNIP>

9 Q And this allonge, it’s a stand-alone document, correct?
10 It’s not attached to anything, is that correct?
11 A I’m not sure I’m understanding your question.
12 Q Was there anything — when you brought the original that’s
13 in front of you, did you remove it? Was it stapled to
14 something else?
15 A No, it wouldn’t have necessarily been stapled to something
16 else. There would have probably been other documents showing
17 the — you know, we would have shown her the note. We would
18 have reviewed all of that before.

Continue Below…

Down Load PDF of This Case

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[MUST READ] FULL TRANSCRIPT OF KEMP v. COUNTRYWIDE

[MUST READ] FULL TRANSCRIPT OF KEMP v. COUNTRYWIDE


EXCERPT:

THE COURT: All right. I have the supplemental and
12 second supplemental submissions of Countrywide and the reply.
13 Mr. Kaplan, I look to you first. I am, frankly, appalled at
14 the confusion and lack of credibility of Countrywide’s
15 response to the issue of the note — the possession of the
16 note.
17 We started out with Ms. DeMartini’s testimony that
18 the note never leaves the servicer. She says that she saw a
19 Federal Express receipt whereby the actual note, the physical,
20 original note was transferred to the Foreclosure Department
21 internally in the same building, but that the note had not yet
22 been located. That’s where we stood at that point.
23 Then we had a submission, the supplemental
24 submission saying the original note has been found and can be
25 available for inspection. It doesn’t say where it was found,

1 who had possession or the like, but it was found and is
2 available for inspection.
3 And then without any explanation, there is a lost
4 note affidavit presented dated February of 2007 indicating
5 that the note cannot be found. No explanation provided. What
6 do I do with that, Mr. Kaplan?

<SNIP>

THE COURT: It’s amazing how sloppy this
2 presentation was, and I’m very disappointed about that.
3 Anyway — all right. Well, thank you, Mr. Kaplan. Do you
4 want to present testimony? Does it matter, you know, because
5 there is no testimony regarding possession by Bank of New York
6 as Trustee, correct?

7 MR. KAPLAN: That’s correct, Your Honor. I’m not
8 disputing that. That’s what Ms. DeMartini testified to, that
9 the note — she had no record of this note leaving and going
10 across country, across wherever, to Bank of New York.

11 THE COURT: And you do understand as well that the
12 Pooling and Servicing Agreement requires that transfer, that
13 physical transfer of the note in accordance with — and
14 endorsement — in accordance with UCC requirements?
15 MR. KAPLAN: I understand that, Your Honor. I’ll
16 simply say for the sake of edification, but this is — and I
17 was told it was all e-filed — this is apparently the index to
18 this Master Servicing Agreement showing all the loans and it
19 does reference the Kemp loan. It’s a double-side document,
20 includes all the loans.
21 And I can say that, although Your Honor is right and
22 the UCC and the Master Servicing Agreement apparently requires
23 that, procedure seems to indicate that they don’t physically
24 move documents from place to place because of the fear of loss
25 and the trouble involved and the people handling them. They

basically execute the necessary documents and retain them as
2 long as servicing’s retained. The documents only leave when
3 servicing is released.
4 THE COURT: They take their chances.
5 MR. KAPLAN: I understand, Your Honor.
6 THE COURT: Understood. Thank you.
7 Counsel, the proof of claim was filed — let’s see
8 — it was filed by Countrywide Home Loans, Inc., servicer for
9 Bank of New York — now, that’s wrong. We understand that.
10 Can the — can these problems be corrected post-petition? In
11 other words, we know that claims can be transferred post12
petition.
13 What about if the note, the original note now that
14 has seemingly appeared, is now transferred to the Bank of New
15 York as Trustee and amended, it wouldn’t have to — well, it
16 would be amended to reflect that Countrywide Home Loans, Inc.,
17 is not the right party, but Countrywide Home Loans, Master
18 Servicing or servicing whatever that name is, as servicer for
19 Bank of New York, Trustee, is filing this proof of claim,
20 what’s wrong with that?

FULL DEPOSITION TRANSCRIPT OF KEMP v. COUNTRYWIDE

[ipaper docId=43766376 access_key=key-ihmrb27iwescbiprqux height=600 width=600 /]

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