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INDYMAC FEDERAL BANK, F.S.B, Plaintiff, vs. CASE NO: 13-2008-CA-071801
ROBERTO JR LINARES AKA ROBERT LINARES; ALINA LINARES, ET AL, Defendant.
Affidavit of Mortgage Audit and Chain of Title
The chain of title is the ability to verify the owner and subsequent owners of a note. The chain of title is the cornerstone of ownership validation because any break in the chain of title can result in unfavorable outcomes for the owner of the note. For the last 400 years, the county land records have been the validation engines to determine if a mortgage was attached to a property. Every time a note was sold, an assignment of mortgage would be recorded in county records to show who the new owner of the note was. The assignment of mortgage is not only proof of new ownership, but is vital to support the integrity of the chain in title. The note is the “promise to pay” or an “I owe you” and is not recorded. However, the mortgage, which is the security instrument that follows and attaches to the note, is the “collateral” that supports and attaches to note. Henceforth, the mortgage always follows the note. If the note and mortgage were ever severed, the note would become unsecured and contain no collateral. So, again, for the last 400 years, the county land records were the record keeper of mortgages until MERS. Mortgage Electronic Registration System (MERS), created by Fannie Mae, Freddie Mac, Countrywide, Bank of America, Chase and a slew of other entities that needed a more streamline business model for transferring ownership of loans. Unfortunately, these entities didn’t bother to get any state and/or federal approval that acknowledged the MERS as an alternative record keeper. By using MERS, users of the system didn’t need to spend the time and money going to the courthouse and record assignment of mortgages and satisfaction of mortgages every time a note is sold. Once a user registers a loan on the MERS database, the user can perform an array of recorded functions within this database. However, the consequence of not updating the database could be catastrophic. However, what the creators of MERS didn’t realize is that if the users (not only the sellers but the buyers) of the database didn’t update the system every time a note was sold and if an assignment of mortgage wasn’t recorded then how can the current owner of the note be validated? This question is what leads back to the “chain of title”.
Chain of Title Review The assignment of mortgage is normally prepared and completed 10 days after receipt of the collateral package and purchase advice (money the seller will receive from the purchaser). The delivery method of the assignment to the court house and the processing time to record the document will dictate the timetable for being able to view the assignment in public records. Nonetheless, once the document is delivered to the courthouse and paid for, a receipt is provided to show proof of the recording while the document is being processed. The normal turn time can be anywhere from 30 to 120 days once the assignment is delivered and paid for. Original Mortgage Mortgage contract between Alina Linares and husband, Robert, with Argent Mortgage Company, LLC shown below.
NOTE: MERS is NOT on the original mortgage.
No Legal Standing On November 19, 2008 Florida Default Group filed foreclosure against Robert and Alina Linares on behalf of IndyMac Federal Bank, F.S.B., who WAS NOT THE LEGAL OWNER ON RECORD. Florida Default Group appears to be conspiring with IndyMac Federal Bank, F.S.B. to commit grand larceny and steal a property that neither party has an ownership interest in.
Mortgage Assignment Fraud This mortgage assignment was prepared by Florida Default Group on 11/21/2008, after the attorney had already filed foreclosure. They used MERS to transfer the mortgage from IndyMac Bank F.S.B TO IndyMac Federal Bank F.S.B., who filed foreclosure before having ownership. The problem is MERS HAS NO LEGAL STANDING EITHER. The original mortgage with Argent Mortgage Company, LLC was NEVER LEGALLY TRANSFERRED, and MERS was not on the original mortgage documents. They appeared out of thin air.
This document was authorized by known “Robo-Signer” Erica Johnson-Seck, of IndMac Federal Bank, F.S.B., and also representing herself as MERS. Florida Default Group prepared this assignment with Johnson-Seck, making this transfer of mortgage entirely an inside job.
Deposition of Erica A. Johnson-Sec – “Robo-Signer” for IndyMac and One West Bank Below are transcripts from the deposition of Erica A. Johnson-Sec in a Palm Beach County, Florida case involving IndyMac Federal Bank, F.S.B. Florida BAR attorney, Thomas Ice of Ice Legal, P.A., in West Palm Beach, questions Johnson-Sec about her position and the practices of her previous employer, IndyMac Bank Federal F.S.B. and current employer, One West Bank, a subsidiary of the same company, where she officially began her employment on March 19, 2009.
Deposition of Erica A. Johnson-Sec (pages 5-8) Attorney, Thomas Ice questions Johnson-Sec about the existence of IndyMac Federal Bank F.S.B., and details about her position as “Vice President of Bankruptcy and Foreclosure”. Page 6, Line 2: Question – Thomas Ice: “Would you agree with me that the plaintiff in this case, the Marchado case, no longer exists?” Answer – Erica A. Johnson-Sec: “YES”
* note that the “plaintiff” being referred to is IndyMac Federal Bank F.S.B.
Page 6, Line 5: Question – Thomas Ice: “Are you an officer for Mortgage Electronic Registration Systems?” Answer – Erica A. Johnson-Sec: “NO”
Deposition of Erica A. Johnson-Sec (pages 13-16) Page 13, Line 21: Question – Thomas Ice: “Six thousand divided by eight, that give me 750” Answer – Erica A. Johnson-Sec: “That sounds, that sounds about right” Page 13, Line 24: Question – Thomas Ice: “That would be a reasonable estimate about how many you sign, you personally sign, per week?” Answer – Erica A. Johnson-Sec: “YES” Johnson-Sec is referring to the number of mortgage assignments she signs every week.
IndyMac Federal Bank F.S.B. is a Closed Entity According to testimony by Erica A. Johnson-Sec of One West Bank, previously of IndyMac Federal Bank F.S.B., who officially closed for business March 19, 2009. They have no legal standing or jurisdiction to foreclose, as they are not registered to do business with the Florida Department of State as required. Notice the letter below is from “IndyMac Mortgage Services” and NOT from “IndyMac Federal Bank, F.S.B.”. This letter acknowledges the owner of the mortgage as a mortgage-backed security named, INDX 2006-AR2.
Separation of Note and Mortgage IndyMac Mortgage Services is creating a smokescreen for IndyMac Federal Bank F.S.B., an entity which no longer exists. In addition, they are proving the mortgage and note to being null and void according to an 1872 Supreme Court case, Carpenter v. Longan, the judge in his ruling stated the following: The note and mortgage are inseparable; the former as essential, the latter as an incident. An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity. Securitization Overview A mortgage-backed security (MBS) is an asset-backed security that represents a claim on the cash flows from mortgage loans through a process known as securitization The process of securitization is complicated, and is highly dependent on the jurisdiction within which the process is conducted. The basics are: 1. Mortgage loans (mortgage notes) are purchased from banks and other lenders and assigned to a trust 2. The trust assembles these loans into collections, or "pools" 3. The trust securitizes the pools and issues mortgage-backed securities While a residential mortgage-backed security (RMBS) is secured by single-family or two to four family real estate, a commercial mortgage-backed security (CMBS) is secured by commercial and multifamily properties, such as apartment buildings, retail or office properties, hotels, schools, industrial properties and other commercial sites. A CMBS is usually structured as a different type of security than an RMBS. These securitization trusts include government-sponsored enterprises and private entities which may offer credit enhancement features to mitigate the risk of prepayment and default associated with these mortgages. Since residential mortgages in the United States have the option to pay more than the required monthly payment (curtailment) or to pay off the loan in its entirety (prepayment), the monthly cash flow of an MBS is not known in advance, and therefore presents risk to MBS investors. In the United States, the most common securitization trusts are Fannie Mae and Freddie Mac, U.S. government-sponsored enterprises. Ginnie Mae, a U.S. government-sponsored enterprise backed by the full faith and credit of the U.S. government, guarantees its investors receive timely payments, but buys limited numbers of mortgage notes. Some private institutions, such as Investment Banks, Real Estate Mortgage Investment Conduits (REMICs) and the Real Estate Investment Trusts (REITs), also securitize mortgages, known as "private-label" mortgage securities. Issuances of private-label mortgage-backed securities increased dramatically from 2001 to 2007, and then ended abruptly in 2008 when real estate markets began to falter
Indx 2006-AR2 - Details If this trust does own this mortgage, it was terminated in January of 2007, according to the report below by the SEC. No additional information has been found.
UNITED STATES OF AMERICA SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 15 - Certification and Notice of Termination of Registration under Section 12(g) of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports Under Sections 13 and 15(d) of the Securities Exchange Act of 1934. Commission File Number: 333-127556-22 IndyMac MBS, Inc. (Exact name of registrant as specified in its charter) 155 North Lake Avenue Pasadena, California 91101 (800) 669-2300 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Indymac INDX Mortgage Loan Trust 2006-AR2, Mortgage Pass-Through Certificates, Series 2006-AR2 (Title of each class of securities covered by this Form) NONE (Titles of all other classes of securities for which a duty to file reports under section 13(a) or 15(d) remains) Please place an X in the box(es) to designate the appropriate rule provision(s) relied upon to terminate or suspend the duty to file reports: Rule Rule Rule Rule 12g-4(a)(1)(i) [ ] Rule 12g-4(a)(1)(ii) [ ] Rule 12g-4(a)(2)(i) [ ] Rule 12g-4(a)(2)(ii) [ ] Rule Rule 12h-3(b)(1)(i) 12h-3(b)(1)(ii) 12h-3(b)(2)(i) 12h-3(b)(2)(ii) 15d-6 [ ] [ ] [ ] [ ] [X]
Approximate number of holders of record as of the certification or notice date: Less than 300 holders Pursuant to the requirements of the Securities Exchange Act of 1934 (Name of registrant as specified in charter) has caused this certification/notice to be signed on its behalf by the undersigned duly authorized person. DATE: January 16, 2007 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President Deutsche Bank National Trust Company,
Fraud on the Court Attorney for the plaintiff, Ronald Wolfe & Associates. has committed fraud against the court and orchestrated this foreclosure for the benefit of their firm and client. The plaintiff is an entity which no longer exists, and the owner stated by the “mortgage servicer” is another entity (Trust) which no longer exists. An investigation and legal action should take place against this attorney. Ronald Wolfe & Associates filed foreclosure action and then constructed a fraudulent assignment to back it up.
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