North Carolina homeowner uses a securitization audit to obtain a foreclosure dismissal in court

North Carolina homeowner uses a securitization audit to obtain a foreclosure dismissal in court

Posted on July 28, 2012

A North Carolina homeowner recently found himself in the middle of a nationwide epidemic when GMAC Mortgage attempted to foreclose on his home. He used a little known tool called a securitization audit to have the case dismissed in court.

To many Americans who receive their Notice of Default after falling behind on their mortgage payments, futures as homeowners may seem bleak. A majority of families simply concede to the foreclosure process and move out, suffering tremendous financial losses and emotional distress. However, a little known tool called a securitization audit, turned one homeowner’s foreclosure nightmare into a dream come true.

In North Carolina, Andrew Carlton was summoned to court for foreclosure proceedings on his $1.5 million refinance of his residence. Using a secret weapon called a “securitization audit”, Carlton’s attorney was able to use the audit to show that,

“GMAC Mortgage acted in breach of Good Faith, caused undo duress, inflicted emotional distress, failed to negotiate fairly and acted with incompetence.”

GMAC, the purported current Note holder, originally had the homeowners apply for a HAMP loan modification. This is a government funded program which provides assistance to homeowners seeking mortgage refinancing. However, eligibility for this program can be found on the website and limits the loan amount to $729,750. The representatives at GMAC should certainly know that a 1.5 million dollar loan would not qualify for a HAMP modification. The securitization audit stated:

“GMAC subjected the borrowers to unnecessary duress by having them apply for a program they could not be approved for. I have no idea how much time and grief this caused the Carlton’s, but it was shear incompetence to tell the borrowers to jump through hoops submit paperwork for months to cure a 1.5 million dollar mortgage with a program that doesn’t do 1.5 million dollar modifications.”

More importantly, the securitization audit also illustrated that GMAC failed to show standing with respect to ownership of the debt, and may have attempted to deceive the homeowner by not disclosing the true owner of the debt. The Securitization Auditor’s audit provided evidence so significant that GMAC’s foreclosure attorney voluntarily dismissed the foreclosure proceedings on April 20, 2012. Click here for the Notice of Voluntary Dismissal.

The Homeowners Revolt.Com can provide you with a trial-ready audit, which is fairly uncommon in the industry.

After some research, The Homeowners Revolt.Com was found to be one of the only companies in the nation that can offer securitization audits that will actually hold up in a foreclosure defense case. The reason is that their auditors typically have over 20 years of experience in the banking industry handling securities. They also provide expert witness testimony which has never been challenged by the opposition, through a signed and notarized affidavit.

If only more foreclosure defense attorneys followed the road that Andrew Carlton’s has paved, perhaps the mass amounts American families who are currently facing foreclosure would stand a fighting chance. Are securitization audits the solution to the foreclosure crisis? Perhaps they are, and perhaps not. Either way, Andrew Carlton is thanking his attorney and the Securitization Auditors for lifting the foreclosure burden off of his shoulders.

Click Here To order your CERTIFIED MORTGAGE SECURITIZATION AUDIT NOW!

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Homeowner Wins Foreclosure Defense Case in Florida Using a Securitization Audit

Posted by revolt | Homeowner Wins Foreclosure Defense Case in Florida Using a Securitization Audit | Thursday 13 December 2012 2:27 pm

Homeowner Wins Foreclosure Defense Case in Florida Using a Securitization Audit

Posted on July 10, 2012 at 11:24 AM EDT

Pinellas County residents Aida and Howard Hayes found themselves part of the nationwide foreclosure process when Deutsche Bank National Trust Company attempted to foreclosure on their home. The Hayes’ hired Kelley Boseker, a local foreclosure defense attorney, who used a securitization audit to show the lender did not have the right to foreclose on their property. The securitization audit unraveled a web of forged signatures, robo-signing, and foreclosure process fraud that ultimately won the case for the Hayes’.

The securitization audit that was submitted as legal evidence found that the first mortgage of $134,400 was originally financed with First NLC Financial Service, LLC. However, the Hayes’ mortgage coupons oddly directed them to make their payments to OCWEN Loan Servicing, LLC in Carol Stream, Illinois. Next, the securitization audit found that the signature on the loan from Thomas Czochanski, the Vice President and CFO of First NLC Financial Service, LLC resembled that of an employee from LSI, a well known robo-signing company. The auditor located the public records for Czochanski’s personal mortgage and found that the signatures didn’t remotely resemble each other. The securitization auditor concluded that:

“the endorsement on the Note is not genuine, and that it was most likely fabricated by Lender Processing Services, who is routinely hired by Shapiro and Fishman to produce these documents. This Note would legally still be owned by First NLC Financial Services, LLC and is in the midst of a Chapter 11 Bankruptcy as case 9:08-Bk-10632.”

Other major issues noted in the securitization audit were that the Assignment of Mortgage was provided but had an “Unofficial Copy” watermark on it and was never recorded. Additionally, Shapiro & Fishman, the legal firm foreclosing on the property for the lender, prepared the Assignment of Mortgage and sent it for signature to two employees of Lender Processing Systems, Inc. who claimed to be Vice Presidents of Mortgage Electronic Registration Systems, Inc. (MERS) who is the original Mortgagee designated on the Mortgage instrument.

The authority of these two individuals to execute this document was challenged, as the company they work for is not any financial institution that has had a valid interest in this loan or any financial institution claiming interest in the loan and no documentation could be produced by MERS to this end. In other words, they had no right to sign the mortgage.

The judge for the foreclosure defense case has ruled in favor of Aida and Howard Hayes and supported the claim that the bank had no right to foreclose on their home. What’s even more exciting is that the Hayes’ no longer have make payments on their first mortgage since it was shown that the bank does not own their loan.

We’ll chalk this one up as a victory not only for the attorney Kelley Boseker and the homeowners Aida and Howard Hayes, but for the American People who just witnessed that there is hope for this nationwide crisis.

For reference, the Case Docket Number is 522008CA013676XXCICI.

The Homeowners Revolt.Com offers trial-ready securitization audits to attorneys. They also offer expert witness testimony.

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