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497 Hooksett Rd. #105
 Manchester, NH 03104 
Phone: (603) 685 4301

In the News

130703 - Homecomings Fin LLC v Guldi NY 2d Appellate MERS Can't Xfer What It Doesn't Own

"The Supreme Court erred in granting the plaintiff's motion for summary judgment on the amended complaint. "In a mortgage foreclosure action, a plaintiff has standing where it is both the holder or assignee of the subject mortgage and the holder or assignee of the underlying note at the time the action is commenced."

"Moreover, although there was evidence that MERS assigned the mortgage instrument to the plaintiff during the course of the action, such an assignment would not render the plaintiff the holder of the note, since MERS could not transfer that which it did not hold."

130703 - Homecomings Fin LLC v Guldi NY 2d Appellate MERS Can't Xfer What It Doesn't Own

 

PennyMac buys Citi non-performing loans, properties | HousingWire

PennyMac Mortgage Investment Trust is buying a bunch of non-performing residential mortgage loans and residential properties from a Citigroup subsidiary.
 

130703 - Neuces County TX v MERS Et Al Recording Fraudulent Liens

"As previously discussed, Chapter 51 of the Texas Property Code defines a mortgagee to include a book entry system such as MERS. TEX. PROP. CODE§ 51.0001(4)."

"MERS does not, however, hold any beneficial interest in the deeds of trust, and it is not a beneficiary of the deeds of trust. It is merely an agent or nominee of the beneficiary. The false assertion of a legal right in property where none exists may constitute a fraudulent lien or claim against real estate in violation of Section 12.002 of the Texas Civil Practice and Remedies Code....

130703 - Neuces County TX v MERS Et Al Recording Fraudulent Liens

 

Here's Why People Hate Bank of America (BAC)

It's fair to say that Bank of America (NYSE: BAC  ) is the pariah of the banking world. It found itself at the bottom of the heap in a J.D. Power survey of mortgage customers; it was the worst-performing bank on last year's American Customer Satisfaction Index; and the industry publication American Banker recently announced that it has the lousiest reputationamong both customers and noncustomers of any large lender in the country.

But I was nevertheless surprised at the outpouring of vitriol that our readers heaped on the nation's second-largest bank by assets in a series of articles that I've written of late. In one detailing allegations of abuse under the 2009 Home Affordable Modification Program, or HAMP, readers lambasted the bank for a multitude of slights. "If [Bank of America] were a person it would be in prison," one reader noted. "I hate that my mortgage was sold to these scumbags," says another. And a third expressed the opinion that "[Bank of America] should be shut down for fraud and cheat."

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Company Contact

Stellionata Consulting, LLC

497 Hooksett Rd. #105

Manchester, NH 03104

Phone: (603) 685 4301

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Chain of Title

A few years ago, there was a lot of media hype about "producing the original note." There was almost equal response from the mortgage/foreclosure industry that the original note wasn't important and that reasonable facsimiles that were attested to as being "true and accurate copies of the original" were/are good enough to demonstrate that the current "bearer" of the copy is the rightful note holder and, therefore, has title and interest in the promissory note and has legal standing to foreclose.

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