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 …

Remarks by the President on Osama Bin Laden

East Room

11:35 P.M. EDT

THE PRESIDENT:  Good evening.  Tonight, I can report to the American people and to the world that the United States has conducted an operation that killed Osama bin Laden, the leader of al Qaeda, and a terrorist who’s responsible for the murder of thousands of innocent men, women, and children.

It was nearly 10 years ago that a bright September day was darkened by the worst attack on the American people in our history.  The images of 9/11 are seared into our national memory — hijacked planes cutting through a cloudless September sky; the Twin Towers collapsing to the ground; black smoke billowing up from the Pentagon; the wreckage of Flight 93 in Shanksville, Pennsylvania, where the actions of heroic citizens saved even more heartbreak and destruction.

And yet we know that the worst images are those that were unseen to the world.  The empty seat at the dinner table.  Children who were forced to grow up without their mother or their father.  Parents who would never know the feeling of their child’s embrace.  Nearly 3,000 citizens taken from us, leaving a gaping hole in our hearts.

On September 11, 2001, in our time of grief, the American people came together.  We offered our neighbors a hand, and we offered the wounded our blood.  We reaffirmed our ties to each other, and our love of community and country.  On that day, no matter where we came from, what God we prayed to, or what race or ethnicity we were, we were united as one American family.

We were also united in our resolve to protect our nation and to bring those who committed this vicious attack to justice.  We quickly learned that the 9/11 attacks were carried out by al Qaeda — an organization headed by Osama bin Laden, which had openly declared war on the United States and was committed to killing innocents in our country and around the globe.  And so we went to war against al Qaeda to protect our citizens, our friends, and our allies.

Over the last 10 years, thanks to the tireless and heroic work of our military and our counterterrorism professionals, we’ve made great strides in that effort.  We’ve disrupted terrorist attacks and strengthened our homeland defense.  In Afghanistan, we removed the Taliban government, which had given bin Laden and al Qaeda safe haven and support.  And around the globe, we worked with our friends and allies to capture or kill scores of al Qaeda terrorists, including several who were a part of the 9/11 plot.

Yet Osama bin Laden avoided capture and escaped across the Afghan border into Pakistan.  Meanwhile, al Qaeda continued to operate from along that border and operate through its affiliates across the world.

And so shortly after taking office, I directed Leon Panetta, the director of the CIA, to make the killing or capture of bin Laden the top priority of our war against al Qaeda, even as we continued our broader efforts to disrupt, dismantle, and defeat his network.

Then, last August, after years of painstaking work by our intelligence community, I was briefed on a possible lead to bin Laden.  It was far from certain, and it took many months to run this thread to ground.  I met repeatedly with my national security team as we developed more information about the possibility that we had located bin Laden hiding within a compound deep inside of Pakistan.  And finally, last week, I determined that we had enough intelligence to take action, and authorized an operation to get Osama bin Laden and bring him to justice.

Today, at my direction, the United States launched a targeted operation against that compound in Abbottabad, Pakistan.  A small team of Americans carried out the operation with extraordinary courage and capability.  No Americans were harmed.  They took care to avoid civilian casualties.  After a firefight, they killed Osama bin Laden and took custody of his body.

For over two decades, bin Laden has been al Qaeda’s leader and symbol, and has continued to plot attacks against our country and our friends and allies.  The death of bin Laden marks the most significant achievement to date in our nation’s effort to defeat al Qaeda.

Yet his death does not mark the end of our effort.  There’s no doubt that al Qaeda will continue to pursue attacks against us.  We must –- and we will — remain vigilant at home and abroad.

As we do, we must also reaffirm that the United States is not –- and never will be -– at war with Islam.  I’ve made clear, just as President Bush did shortly after 9/11, that our war is not against Islam.  Bin Laden was not a Muslim leader; he was a mass murderer of Muslims.  Indeed, al Qaeda has slaughtered scores of Muslims in many countries, including our own.  So his demise should be welcomed by all who believe in peace and human dignity.

Over the years, I’ve repeatedly made clear that we would take action within Pakistan if we knew where bin Laden was.  That is what we’ve done.  But it’s important to note that our counterterrorism cooperation with Pakistan helped lead us to bin Laden and the compound where he was hiding.  Indeed, bin Laden had declared war against Pakistan as well, and ordered attacks against the Pakistani people.

Tonight, I called President Zardari, and my team has also spoken with their Pakistani counterparts.  They agree that this is a good and historic day for both of our nations.  And going forward, it is essential that Pakistan continue to join us in the fight against al Qaeda and its affiliates.

The American people did not choose this fight.  It came to our shores, and started with the senseless slaughter of our citizens.  After nearly 10 years of service, struggle, and sacrifice, we know well the costs of war.  These efforts weigh on me every time I, as Commander-in-Chief, have to sign a letter to a family that has lost a loved one, or look into the eyes of a service member who’s been gravely wounded.

So Americans understand the costs of war.  Yet as a country, we will never tolerate our security being threatened, nor stand idly by when our people have been killed.  We will be relentless in defense of our citizens and our friends and allies.  We will be true to the values that make us who we are. And on nights like this one, we can say to those families who have lost loved ones to al Qaeda’s terror:  Justice has been done.

Tonight, we give thanks to the countless intelligence and counterterrorism professionals who’ve worked tirelessly to achieve this outcome.  The American people do not see their work, nor know their names.  But tonight, they feel the satisfaction of their work and the result of their pursuit of justice.

We give thanks for the men who carried out this operation, for they exemplify the professionalism, patriotism, and unparalleled courage of those who serve our country.  And they are part of a generation that has borne the heaviest share of the burden since that September day.

Finally, let me say to the families who lost loved ones on 9/11 that we have never forgotten your loss, nor wavered in our commitment to see that we do whatever it takes to prevent another attack on our shores.

And tonight, let us think back to the sense of unity that prevailed on 9/11.  I know that it has, at times, frayed.  Yet today’s achievement is a testament to the greatness of our country and the determination of the American people.

The cause of securing our country is not complete.  But tonight, we are once again reminded that America can do whatever we set our mind to.  That is the story of our history, whether it’s the pursuit of prosperity for our people, or the struggle for equality for all our citizens; our commitment to stand up for our values abroad, and our sacrifices to make the world a safer place.

Let us remember that we can do these things not just because of wealth or power, but because of who we are:  one nation, under God, indivisible, with liberty and justice for all.

Thank you.  May God bless you.  And may God bless the United States of America.

END               11:44 P.M. EDT

Obama Administration watching feed on raid of Osama bin Laden

Naked Capitalism- Yves Smith

The very fact that this item “LPS fires back with motion seeking sanctions against Alabama attorney,” was treated as a news story by Housing Wire is further proof that Housing Wire is above all committed to promoting client and mortgage industry interests and only incidentally engages in random acts of journalism.

LPS is desperate to create a shred of positive-looking noise in the face of pending fines under a Federal consent decree, mounting private litigation, and loss of client business under the continued barrage of bad press. Housing Wire, who has LPS as one of its top advertisers, is clearly more than willing to treat a virtual non-event as newsworthy to help an important meal ticket.

If you know anything about litigation, particularly when small fry square off against large companies, it’s standard for the well funded party to engage in a war of attrition against the underdog. One overused device is to threaten or file for sanctions. Even when they are weak or groundless, they still waste opposing counsel’s time and energy.

Excerpts:

Q. So through that corporate authority as
Exhibit 4 to this deposition, MERS assented to the terms
Of this assignment of mortgage?

A. Through me.

Q. So it was you that assented to the terms of
This assignment of mortgage.

A. The one in this case, yes.

Q. And no one else.

A. Correct

Q. And you signed as vice president of MERS
acting solely as a nominee for America’s Wholesale
Lender; is that correct?

A. Yes, it is.

Q. How did you know that MERS was nominee for
America’s Wholesale Lender?

A. By reviewing documentation.

Q. What documentation?

A. I don’t specifically recall what I reviewed
In this case to see that, to determine that, but I would
have reviewed either the mortgage or I would have
reviewed other documentation that would have established
that to me.

Q. So in this case you don’t remember a single
Document that you looked at that would establish the
Nominee status of MERS for America’s Wholesale Lenders;
Is that correct?

A. I don’t

Q. Did someone at America’s Wholesale Lender
Tell you that MERS was acting as the nominee?

A. No.

Q. Did someone at MERS tell you they were
Acting as Nominee for America’s Wholesale Lender?

A. NO.

Q. Was America’s Wholesale Lender in existence
On May 19, 2010?

A. don’t now.

Q. Did you check that before signing this
assignment of mortgage?

A. No.

<SNIP>

Q. Now, you’ve said you review the MERS
Website and you’ve seen documents like this, like
Composite Exhibit 6. Any reason why you wouldn’t review
the documents contained in Exhibit 6 before executing the
assignment of mortgage?

A. It’s not necessary.

Q. Why not?

A. Because it’s not. Because I decided it’s
not.

Q. You as vice president of MERS?

A. In every possible capacity as it relates to
This case.

Q. Did you sign this assignment of mortgage
after being retained as counsel for the plaintiff?

A. After my law firm was retained?

Q. (Nods head.)

A. Is that the question?

Q. Sure.

A. Yes.

Q. Okay. So you executed an assignment to be
Used as evidence in your case, correct?

A. Sure.

Q. Is that a yes?

A. It’s a sure.

Q. Is that a yes o a no?

A. You said sure earlier. Was that a yes or a
No?

Q. Okay. So…

A. It’s a yes.

Q. It’s a yes.

And were you aware when you signed the
assignment of mortgage that MERS was a defendant in this
Case?

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According to AP,  the court on Monday issued a high profile-case order in the matter of Pino v. Bank of New York Mellon. One of the issues in the case is whether there was a fraud on the trial court.

And we all now the original work behind this was none other than Law Offices of David J. Stern, who has recently shut down as of March 31, 2011.

On February 2, 2011 the Florida 4th DCA said

We conclude that this is a question of great public importance, as many, many mortgage foreclosures appear tainted with suspect documents. The defendant has requested a denial of the equitable right to foreclose the mortgage at all. If this is an available remedy as a sanction after a voluntary dismissal, it may dramatically affect the mortgage foreclosure crisis in this State. Accordingly we certify the following question to the Florida Supreme Court as of great public importance

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From the Palm Beach Post Christine Stapleton [link]

At Lender Processing Services workers who signed tens of thousands of sworn foreclosure affidavits with someone else’ name were called “surrogate signers”, according to Cheryl Denise Thomas, a former LPS worker who admitted to notarizing as many as 1,000 sworn affidavits daily – often without witnessing the signature.

Thomas said despite “raised eyebrows”  her supervisors never used the word “forge” and repeatedly told workers the practice of signing someone else’ name on a sworn affidavit was legal. Thomas detailed the company’s foreclosure document processing practices during a deposition in an Orange county foreclosure case on March 23.

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[image credit: I-Robot]

via: NakedCapitalism

Excerpts:

Beginning Pg. 33

that’s when they — well, upon us leaving
anyway, they took up our notary stamps and
everything and destroyed them. But I was
relieved of my duties once moved to
Gwinnett County.

Q. Who — who — I’m sorry, did I miss
that? Who destroyed those documents?

A. I can’t say exactly who destroyed
them. All I know is that Jeffrey
the supervisor in the signing room at that
times, he picked up everyone’s stamp, the
notaries’ stamps.

Q. He took your stamps?

A. He took our stamps. And — and
they were destroying them.

Q. How were they destroying them?

A. I don’t know how. He just said
they were picking up all the stamps, all
of the notary stamps. And they were going
to destroy them, because the company was
closing. And they were only suppose to be
used for that company.

Continue below…

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via: Mario Kenny

Excerpts:

Q. Would Litton have reached out to — I’m going to
13 call it MERS in place of Mortgage Electronic
14 Registration Systems. Would Litton have reached out to
15 MERS to execute this assignment?
16 A. Actually, Marti Noriega and Denise Bailey are
17 employed by Litton Loan Servicing. They have authority
18 to sign on behalf of MERS.
19 Q. Does either of those parties have authority to
20 sign on behalf of Accredited Home Lenders?
21 A. No, not to my knowledge.
22 Q. Do you know if Accredited Home Lenders was still
23 in place on the date that this assignment of mortgage
24 was executed?

THE WITNESS: I’m not certain of Accredited
2 Home Lenders’ status at this time.
3 BY MR. KORTE:
4 Q. As of April of 2009, are you aware if Accredited
5 Home Lenders was in bankruptcy?
6 A. I don’t know what their status was.
7 Q. Are there any other assignments of mortgage other
8 than this one as Composite Exhibit C that you’re aware
9 of?
10 A. No.

<SNIP>

Q. Well, is this Allonge a copy of the Allonge; or
3 is this the original Allonge copied with the correct
4 endorsement?
5 A. The only way I could verify that is to see the
6 actual, original note which is on file with the court.
7 Q. Do you know why the Allonges are different from
8 the one that was filed with the complaint and the one
9 that was filed with the court several months later?
10 A. No, I do not.

Continue below to the Depo…

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EXCERPTS:

Q Have you reviewed the Pooling and
Servicing Agreement in this case?
A No, I haven’t.
Q It’s my understanding I believe it was
objected to being produced. So up till today, have
you reviewed any document that allows you to speak
on behalf of Bank of New York?
A I haven’t.
Q Have you spoken to anyone at Bank of New
York to confirm that you are allowed to speak on
behalf of a separate corporate entity here today?
A No.

Q So as you sit here, do you know whether
you have the authority from the Bank of New York to
testify to these matters and to bind the Bank of New
York as a corporation?
A No.

Q Okay. And let me go back before I get
into the question one. You are not an officer of
the Bank of New York, correct?
A That’s correct.
Q You’re not a director of the Bank of New
York?
A Correct.
Q You’re not a managing agent of the Bank of
New York?
A Correct.

<SNIP>

Q What I’m getting at is the ownership of
the actual note and mortgage, not the servicing, but
the ownership. Do you have any other document that
would either confirm or contest whether

NationsCredit Mortgage Corporation of Florida owned
this note and mortgage in order to assign it as set
forth in Exhibit 2?
A Not that I know of

<SNIP>

Q So again, do you have anything at all that
suggests that NationsCredit Home Equity Services
Corporation ever owned this note?
A I don’t.

<SNIP>

Q Do you agree that the Bank of New York
lacked standing to file the 2004 case?
A Can you be more specific on your question?
Q Do you agree that the Bank of New York did
not own the note and mortgage at the time it filed
the 2004 case?
A Well, I can say that there’s no recorded
document showing that date.

<SNIP>

Q Do you agree that the lack of standing was clear?
A No.
Q Why not?
A Because of the overlapping of dates and
the obvious issues with the assignment chain, it’s not clear that it was straightforward.

Continue below…
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Affidavit Included

Excerpt: Pg 168

Q. To the best of your knowledge, did Chase ever own Ms. Nuer’s loan?

A. No.

Q.  To the best of your knowledge, was Ms. Nuer’s loan ever transferred out of this trust?

A. No.

Q.  Does the trust continue to own Ms. Nuer’s loan today?

A. Yes.

Q. Is it possible that this loan, Ms. Nuer’s loan, somehow transferred to the trust by Chase in November 2008?

A. No.

[…]

Via: PB Post‘s Kim Miller

Excerpt:

THE COURT: No, not now. The Court
19 has already dismissed it. It is gone.
20 And the Court is finding you in
21 contempt and you, sir, Mr. Cornell, for
22 filing this in this manner when these
23 documents are so questionable. You are
24 to pay opposing counsel’s fees and
25 costs.

1 And the mortgage is dismissed with
2 prejudice. And based on the 1099 the
3 note is canceled and dismissed with
4 prejudice as it looks like the note has
5 been satisfied. And if they want to go
6 for some other sort of judgment, I
7 suppose they can do that.

8 And the Court will draft an order
9 finding you in contempt, finding you
10 grossly negligent, both of you and I’m
11 sending this to the Bar. This is just
12 enough.

13 It’s time that somebody looked at
14 this stuff and reacted instead of
15 waiting until you come in front of a
16 judge, having a judge dress you down,
17 which I’m very sorry to have to do and
18 then say, “Wait a minute. We can fix
19 this.”

continue below… Courtesy of PBPost

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Be prepared to blown away with April Charney and Linda Tirelli!

THEY DO NOT BACK DOWN!

Be sure to go down to the “related depos” down below…

FULL TESTIMONY
OHIO ATTORNEY GENERAL MIKE DEWINE
“An Analysis of the Post-Conservatorship Legal Expenses of
Fannie Mae and Freddie Mac”
HOUSE SUBCOMMITTEE HEARING ON
OVERSIGHT AND INVESTIGATIONS
WASHINGTON, DC
FEBRUARY 15, 2011

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Testimony of Michael J. Williams
President and Chief Executive Officer
Fannie Mae
U.S. House of Representatives Committee on Financial Services
Subcommittee on Oversight and Investigations
“Analysis of the Post-Conservatorship Legal Expenses of Fannie Mae and Freddie Mac”
February 15, 2011

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© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

Statement of
Edward J. DeMarco
Acting Director
Federal Housing Finance Agency
Before the
Committee on Financial Services
Subcommittee on Oversight and Investigations
U.S. House of Representatives
“An Analysis Post-Conservatorship Legal Expenses of Fannie Mae and Freddie Mac”
February 15, 2011

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Abigail- knocks this OUT THE BALL PARK! Outstanding!!

By ABIGAIL FIELD Posted 11:30 AM 02/08/11

Foreclosure proceedings in courts nationwide have exposed a swamp of fraudulent documents, and in some cases — though perhaps far too few — those bad docs have sunk attempts by banks to take people’s homes.

Some of Florida’s courts, however, — particularly courts in Lee County — have come under fire for compounding the documentation problems by ignoring the rule of law in order to rush through foreclosures. And a new rule put in place by the Florida Supreme Court to ensure that documents being used in foreclosures are properly certified hasn’t worked well, thanks to a new type of robo-signing that has sprung up to get around it.

In a reflection of how bad things have gotten, lenders are asking judges to “ratify” foreclosures done with robo-signed documents, the Palm Beach Post reported on Saturday. While such “ratification” would not, as a matter of law, mean much, the Post says, it might discourage people from challenging the foreclosures.

With luck, two recent developments may help really clean up the fraud in the Sunshine State. First, an appeals court has asked the Florida Supreme Court to clarify judges’ power to address the fraud, and second, the Florida Bar Association is finally taking a stand.

Asking for Power to Punish Foreclosure Fraud

By William E. Lewis Jr.| Highlands Today

Published: February 6, 2011

A Palm Beach county homeowner fighting alleged foreclosure fraud has ended up before the Florida Supreme Court.

An appeals court last week requested that the high court consider the case of Greenacres homeowner Roman Pino as a matter of “great public importance.” The decision by the 4th District Court of Appeal in West Palm Beach was unusual as neither the bank nor the homeowner requested such a review.

“We conclude that this is a question of great public importance, as many, many mortgage foreclosures appear tainted with suspect documents,” the appeals court wrote in certification to the Supreme Court.

Should the case be accepted by the Florida Supreme Court and a decision rendered in favor of Pino, thousands of cases could be impacted as allegations of document fraud run rampant throughout the state.

courtesy of IceLegal

excerpts:

JUDGE POLEN: I’m afraid I’m not following
that. David Stern’s client at the time was BNY
Mellon Bank, right?

MR. NIEVES: Yes.

JUDGE POLEN: Okay. And that’s evidence of
what, an assignment to a bank?

MR. NIEVES: Basically, the law firm
manufactured evidence for the client’s case.

JUDGE POLEN: Okay.

MR. NIEVES: It was signed and executed by
Cheryl Samons, who works for David Stern, and
executed the assignment solely for the litigation,
and, in the assignment, posed as an officer of a
different entity.

<SNIP>

MS. GIDDINGS: Well, Your Honor, if you look at
the allegations that they have made, almost all of
those allegations pertain to a different case.
They’re not this particular case. I don’t know what
that document — what occurred in that document. But
I think this court is probably going to have a number
of cases that come up before it where that issue
is — it may be at issue in subsequent proceedings.
And when you reopen — if you’re going to reopen
those cases, you have to make sure that you’re
reopening it for something that is material.

JUDGE FARMER: Fraud on the Court is not
material?

MS. GIDDINGS: Your Honor, fraud on the
Court —

JUDGE FARMER: Publishing false documents is
not material?

<SNIP>

MS. GIDDINGS: Because there was no affirmative
relief obtained in this case, Your Honor. And, in
fact, the relief was that Mr. Pino has been living in
the house for a long time, apparently without making
any payments.
And I understand your concerns, Your Honor.
But I’m urging you to consider this case in the grand
scheme of things. If you allow courts to go back and
open up all of these cases, when it’s clear on the
face that there was no affirmative relief obtained,
or that the affirmative relief would not have been
material, then you’re going to create chaos in the
court system.

JUDGE FARMER: So, are you suggesting that this
fraud has been that widespread that it —

MS. GIDDINGS: Your Honor, I’m not
acknowledging that any fraud occurred. I think that
there is — we all know —

JUDGE FARMER: Why would we shrink — as a
court system, why would we shrink, no matter how many
cases it might involve, from looking out for attempts
to defraud courts to publish and utter and use false
instruments? Why wouldn’t we be most vigilant?

To View Video of The Oral Argument Go HERE

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Excerpts:

A We don’t work in foreclosures.
Q You don’t work in foreclosures?
A No.
Q You don’t sign notices of default starting
foreclosures?
A I sign notices of default, yes.
Q And what do you understand the effect of a
notice of default is?
A It starts the clock ticking on the
formal foreclosure period.
Q But that is not working in foreclosures is your
testimony under oath here today on this video?
A Correct.
Q Does a notice of default put the property in
foreclosure?
A It starts the formal process of the foreclosure
time frames.

<SNIP>

Q What documents do you review prior to signing a
notice of default?
A We don’t review any documents.
Q What documents are provided to you in
connection with a loan where a notice of default t is
presented to you for your signature?
A Nothing.

<SNIP>

Q Let’s look at the second sentence there. It
says the amount is $9,751.03 as of 10/17/2007 and will
increase until your account becomes current.
At the time you signed this document you had
absolutely no knowledge whether that was true; correct?
A Correct.
Q On the second page, the last full paragraph
above your signature line, do you see that, that by
reason thereof, the present beneficiary under such deed
of trust has executed and delivered to the duly
appointed trustee a wri t ten declaration of default and
demand for sale.
You don’t know whether that was ever true, do
you?
A No.

<SNIP>

Q So to be clear, you receive an e-mail from LPS
that has as an attachment to it a notice of default?
A Yes.
Q That has names on that notice of default that
Ticor Title does not have an agency relationship with directly?
A Correct.
Q Correct?
A Right.
Q And then you sign the notice of default without
verifying the accuracy of any information in that notice
of default and cause it to be recorded?
A Correct.

Continue reading below…

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Excerpt:

COMMITTEE MEMBER: Can you explain what you are in
4 relation to that?
5 MR. HULTMAN: We’re the beneficiary, but we’re an
6 agent of the lender. So instead of having two — one party be
7 both the payee on the note and the beneficiary in deed of
8 trust, we’re the beneficiary as their agent. In other words,
9 we’re holding title to the mortgage lien on their behalf.
10 COMMITTEE MEMBER: Through this process called
11 nominee?
12 MR. HULTMAN: Well, nominee is just another word for
13 agent.

Continue below…

After you read the transcript, you might be interested in reading the post below

Lender can’t modify the mortgage without the “mortgagee’s” consent

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Courtesy of IceLegal

4 Q. You contend that Exhibit 1 is the document
5 that authorizes you to sign on behalf of Countrywide Home
6 Loans Servicing LP?
7 A. Yes.
8 Q. Okay. How so?
9 A. Countrywide Financial Corporation
10 actually — let me correct myself.
11 The plaintiff, as listed in this particular
12 case, is owned by Countrywide Financial Corporation.
13 It’s one of their entities.
14 Q. Okay. And how do you come to that
15 information?
16 A. Because I know it. I’ve been doing it for
17 a long time. I’ve — I don’t remember at what point in
18 time I found out that knowledge, but I’ve had it.
19 Q. Okay. Now, is Countrywide Home Loans
20 Servicing LP, to your knowledge, a separate corporate
21 entity from Countrywide Financial Corporation?
22 A. I don’t know.

<SNIP>

1 Q. And was that the situation back in December
2 of 2008 when you executed the assignment?
3 A. Yes.
4 Q. Okay. At that time, who was the owner of
5 the beneficial interest in the mortgage?
6 A. The beneficial interest in the note was
7 held by Fannie Mae. The interest in the mortgage was as
8 to, arguably, the interest in the mortgage was both
9 entities, the plaintiff and the Fannie Mae.
10 Q. Do you have any documents establishing your
11 authority to execute any assignments on behalf of Fannie
12 Mae?
13 A. Did I bring them? What? Say that again.
14 Sorry.
15 Q. Do you have any documents indicating your
16 authority to execute assignments on behalf of Fannie Mae?
17 A. I don’t know.
18 Q. Fannie Mae — excuse me.
19 The mortgage is to secure the note, right?
20 A. The mortgage follows the note, yes.
21 Q. Okay. And if Fannie Mae has the note, they
22 have to transfer or assign their interest in that note —
23 MR. ROSENQUEST: Object to form.
24 BY MR. FLANAGAN:
25 Q. — to someone else.

<SNIP>

20 Q. Okay. Does the name R.K. Arnold mean
21 anything to you?
22 A. No.
23 Q. Do you know Mr. Arnold, who is the
24 president of MERS?
25 A. No.
1 Q. You never heard of him?
2 A. No.
3 Q. If he stated that in order to be a
4 certifying officer and sign an assignment on behalf of
5 MERS somebody needed to pass and complete an examination,
6 is that something that is familiar to you?
7 A. It’s not familiar to me, no. I don’t know.
8 Q. Okay. That was not something that you had
9 to do.
10 A. I did not do that.
11 Q. Okay. And if he’s saying that, if that was
12 a rule or a qualification, that was something that was
13 not made known to you.

Before you go to the deposition, take a look at R. K. Arnold’s reply to one of Senator Brown’s questions on the hearing for “Problems in Mortgage Servicing From Modification to Foreclosure” on November 15, 2010.

Exhibits included below!

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Courtesy of Legal Services of New Jersey

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