RR in Wisconsin said: “Foreclosure filed 2/9/09, HSBC as Trustee for Wells Fargo Asset Securities Corp, Wells Fargo Home Equity Asset-Backed Certificates 2005-2, loan shows as asset to Wells Fargo 1999 Trust (Formerly Norwest Asset Securities Corp).
Never recorded other than in the name of Wells Fargo Home Mortgage. Foreclosed Sept 24, 09. It appears that violations of FASB 140-3, AB1122, and violations of the REMIC Trust Indentures are being committed.
After notifying multiple state and Federal agencies, I have not gotten anywhere to this point. I have evidence of the fraudulent asset statements, forged and pre-dated discosures, and documents showing the predatory underwriting.
If you combine this evidence with the performance stats of these trust certificates, the Ponzi Scheme is evidenced. The fraudulent appraisals of the collateral are fraud on the investors, along with the fact that these trustee-sheriff sales are not the way these trusts are intended to produce income (open market transaction, faulty assignments, reverse-repo buy-backs).
The proceeds from the foreclosure are directed to the sponsor, eliminating proceeds that would be returned to the investor. Not to mention that many of these individual mortgage obligations are probably extinguished and paid for in full twice over with the credit default swap (35% of what? the entire obligation. that’s what!) and TARP money (what’s in the bag?).
The Banks continue to defraud the investors and steal the homeowners properties. Enough is ENOUGH!”
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