Recent Supplemental Filings For Your Trust

hibiscus

LoanSafe Member
Sep 19, 2011
146
2
18
California
In accordance with the SEC, supplements to the prospectus for the securitized trusts have been recently been filed. So even if your trust filed Form 15d stating they no longer have to report activity pertaining to your trust; if they have had any current repurchase/buyback requests they are forced to update recent activity pertaining to the loans in the trusts. What's interesting in my case is that they have reported that the exact same number of loans remain in the trust and the total worth of assets is slightly higher than when the trust closed. I know for certain that several monoline insurers have payout $$$$ claims and are suing. In addition, AIG received $$$ from FRBNY because of countrywide's fraud.

http://www.sec.gov/rules/final/2011/33-9175.pdf

If you look up your trust info at the SEC, click on the prospectus and you will see an area in red that is the CIK number followed by the words SEE ALL OTHER FILINGS. Click on that and you will see ABS-15G with a recent date, there you can see what they are declaring as recent activity regarding the trust your loan particular trust.

When they stopped filing for my trust they indicated : Approximate number of holders of record as of the certification or
notice date: 4
 

hibiscus

LoanSafe Member
Sep 19, 2011
146
2
18
California
I'm wondering if anyone has looked at the recent filings of their respective "Trust". These new filings seem to suggest that they are just filing info as usual. But, if you recall most if not all filed form 15d stating that the trust had as few as 4 investors. Now the info filed suggests that the trusts contain the same value of loans from the time the PSA's were first reported. This seems impossible due to the number of defaults and foreclosures.

Now, it looks like BAC/BNYM is starting to shuffle loans in the settlement around either by sale or new subservicers. This seems to be a list pf changes that is very vague in that it does not identify any of the multiple Tranches under each individual trust.

http://www.cwrmbssettlement.com/docs/BONY Transfer Overview_as of June 26 2012.pdf

For subservicers approved under the settlement: http://www.cwrmbssettlement.com/docs/Approved List of Subservicers.pdf

A recently filed lawsuit against CW filed by Bankers Insurance speaks to the fraud committed by CW and BYNM/CW/BAC failure to follow PSA. They survived a motion to dismiss, so it will be interesting to see how this plays out.

We have all seen several insurers suing the same trusts for the misrepresentations, as well as, investors doing the same. Why isn't anyone investigating the individual tranches to show they were paid multiple times for the same loans?
 

stephanies

LoanSafe Member
Jan 24, 2011
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I was able to download my 'supposed' trust and its docs from the sec... but the PSA and the mortgage loan agreement both do not have the mortgage loans even listed... it has the exhibit page, which says 'intentionally omitted' ... and then if you bother to go through the 200 plus pages of the PSA, the legal jargon goes on about how the trustee will not be held liable for ANYTHING, same goes for the master servicer... its pretty obvious that NO ONE who was purchasing the certificates of these trusts bothered to read a darn thing about what they were buying... and hence, all of these lawsuits by investors now... I am starting to think that this is such a huge black hole, that there is no going back and trying to recreate of even try to determine how the trust is performing.... and its definitely the case that the originator and seller of these certs made sure that they got their insurance money as well, after reporting that these trusts started to default... how can docs filed with the SEC not have the mortgage loans listed?

Hibiscus, you raise a really good point... all each investor cares about is getting their own 'piece of the pie' back, after they didn't care about the details when purchasing that 'piece' of pie....the Attorney Generals only care about making sure that their states get the funds to keep on supporting the home foreclosure assistance programs, and at the end of the day, NO ONE is fighting for the homeowners, and making the case that if the banks and investors of our mortgages were already paid back for their 'losses', that they never had to prove in the first place, do we really still 'owe' the debt - Are these banks allowed to get reimbursed for whatever tranches they still had that they said went into 'default' and still GET THE HOUSE??
 

gb_mh

LoanSafe Member
Jul 5, 2012
42
5
8
I had a loan mortgage where WF was the beneficiary at the start (03/2007). However, recently they filed an Assignment of Deed of Trust where they gave it to WF Mortgage Asset Backed Securities 2007-M04. Looking at the secinfo website though, I can't find much info about the trust. The only place i see it is in one of the ABS-15G exhibits - And it has no CIK# attached. Any ideas on how I can track the chain of title? WF never told me that they sold (or put) the loan into a trust.
 

isisis

LoanSafe Member
Jun 22, 2010
1,767
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63
North bay
If the trust into which they claim your loan was placed is 2007 MO4 but the assignment only recently took place that was almost certainly in violation of the trust's PSA. As a result of that improper securitization whether the trust can legally claim a beneficial interest is in question.

As for locating info that can be tricky, some trusts are privately held and don't report. That's a problem I've encountered and was told only legal discovery would produce the documents. You might still keep digging with google searches using variations of the trusts name. Perhaps they filed under a slightly different name.
 

gb_mh

LoanSafe Member
Jul 5, 2012
42
5
8
If the trust into which they claim your loan was placed is 2007 MO4 but the assignment only recently took place that was almost certainly in violation of the trust's PSA. As a result of that improper securitization whether the trust can legally claim a beneficial interest is in question.

As for locating info that can be tricky, some trusts are privately held and don't report. That's a problem I've encountered and was told only legal discovery would produce the documents. You might still keep digging with google searches using variations of the trusts name. Perhaps they filed under a slightly different name.
Thank you for that information. It's really confusing as the Office of Exec. Complaints told me verbally that the loan was assigned to the trust on April, 2007. However, they only filed it with my county on September this year.
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
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Hey isisis - where can you find your trust info? I don't have that info on any documents I can find, I've searched EDGAR but none of the documents around 2005, which is when I signed my DOT, has loan #'s.

thanks.
 

isisis

LoanSafe Member
Jun 22, 2010
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North bay
Hi SIS,

Are you saying that your NOD didn't name the trust? I read that your investor is Freddie so I can't be as helpful as I could with a BNY trust (many of Countrywide loans are BNY) but here's some things you can do to find out.

Send a Debt validation letter requesting the name of the investor, I'm assuming that Freddie is the trustee not the investor but I could be wrong. That's something you should send anyway since they can't foreclose until they respond (with Bofa that process could take months). Maybe I shouldn't have said can't because there is some dispute around the question of foreclosure being debt collection. I'll be posting some recent info on that over on the Countrywide BNY Trust sub-servicer thread.

Since you might want to send the Debt validation letter strategically to gain time, i.e.within a couple of weeks of a scheduled sale, another option is to request the info in a Qualified Written Request (QWR).

You could continue to search on your own using these instructions:[h=3]How to Find Your Pooling and Servicing Agreement (PSA)[/h]
You might also do a similar search but using www.secinfo.com. Some people find secinfo easier to navigate than edgar.
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
169
0
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49
Hi SIS,

Are you saying that your NOD didn't name the trust? I read that your investor is Freddie so I can't be as helpful as I could with a BNY trust (many of Countrywide loans are BNY) but here's some things you can do to find out.

Send a Debt validation letter requesting the name of the investor, I'm assuming that Freddie is the trustee not the investor but I could be wrong. That's something you should send anyway since they can't foreclose until they respond (with Bofa that process could take months). Maybe I shouldn't have said can't because there is some dispute around the question of foreclosure being debt collection. I'll be posting some recent info on that over on the Countrywide BNY Trust sub-servicer thread.

Since you might want to send the Debt validation letter strategically to gain time, i.e.within a couple of weeks of a scheduled sale, another option is to request the info in a Qualified Written Request (QWR).

You could continue to search on your own using these instructions:How to Find Your Pooling and Servicing Agreement (PSA)


You might also do a similar search but using www.secinfo.com. Some people find secinfo easier to navigate than edgar.
Yep, nowhere on the NOD is the trust named. I've searched through secinfo.com and EDGAR and can't seem to pinpoint my trust. I'll send the debt validiation letter and see where that goes, good idea. I've read throught those "how to find your PSA" but if I don't know the trust # I'm not sure those instruction do me any good, at least that what it seems to me.

Freddie is the investor and NW Trustee is the trustee on record (original Trustee was Landsafe Title of Washington), they are the ones that served the NOD. There was an appointment of successor Trustee recorded in 2010 where BAC home loans appointed NW Trustee as successor trustee. Which brings up another question, since BAC is no longer around and BofA sold the servicing rights, doesn't Nationstar, as the beneficiary, have to record a new appointment of successor Trustee?
 
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isisis

LoanSafe Member
Jun 22, 2010
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North bay
NW, a reconveyance company I take it, would be trustee for the deed of trust, Freddie would be trustee for the securitized trust. Yes there will be a test on this, Lol.
To my knowledge there is no requirement for a servicing transfer to be recorded.
Isn't it possible to use the how to find your PSA instructions and search by the origination date of your loan within a three month window going forward? Say your date was 6/1/2007 then you look for every trust registered between then and 9/1/2007. It may not provide anything definite but you might get close or lucky. Then narrow down the results by similar characteristics, balance, zip code, interest rate etc.
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
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yes, of course. I'm not sure why I'm talking about the deed of trust.

Here is the thing, and I think I'm just not understanding something here, but I've searched and found 2 different trusts that could possibly have my loan associated with it, but I went through the whole thing and never saw anything with a balance, zip code etc. I'm pretty sure mine should be associated with Countrywide Home Loans 2005-J12 but I've gone through the whole thing and can't find the info I need. I should be looking for the prospectus (424b5), correct?

Appreciate your help.
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
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Thanks for the link isisis, I think that is my trust as well. There is another one right before that that could also be my trust, BNY is the trustee on both.
 

isisis

LoanSafe Member
Jun 22, 2010
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North bay
If your loan was in one of those trusts I would think that BNY would have been named the investor in your NOD -bear in mind I know nothing about how Freddie loans work. Possibly your loan is in a trust that doesn't correspond to your origination. It's less common but it
might have used a replacement in a
totally different trust. The IRC provides
a two year window there so it would be
a needle in a haystack to find.


A couple other places to search would
be the Freddie website where you enter
your info and they verify your loan.
The other thing you could do would be to go to the BNY investors site. You may be able to find your loan number in the trusts in question. Hibiscus started a useful thread with a link and instructions.
http://www.loansafe.org/forum/unite-fight-share-your-ideas-how-homeowners-can-fight-back-against-fraud/43244-bank-new-york-mellon-trustee-certificate-holders-your-loan.html




there. Then there's the BNY investors site.
Even if those those are the only trusts that correspond origination it's possible tol
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
169
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Freddie is definitely the investor, I've searched on their site and they own the note. The only parties shown on the NOD are Freddie, Nationstar and NW Trustee. There has never been any mention of Freddie, on any paperwork, until the NOD. My guess is since MERS can't be the beneficiary in Washington State they just don't mention MERS anymore. I'll go check out Hibiscus's thread.
 

isisis

LoanSafe Member
Jun 22, 2010
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North bay
oopOops, too late to edit out the last couple of sentences. Still learning to post on my android since the virus Bofa sent in an attachment ate my laptop.
 

StuckInSeattle

LoanSafe Member
Aug 2, 2012
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I can't find my trust anywhere. My DOT was signed October 25, 2005 but the modification of the note, which was a construction loan, was on Nov 6, 2006. Should i be looking in 2005 or 2006?
 
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isisis

LoanSafe Member
Jun 22, 2010
1,767
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North bay
Well it's possible that the modification required a repurchase of your loan in 2006. If there was a default or a bankruptcy involved at that time or later that might also explain your loan not being in a 2005 trust.
 

isisis

LoanSafe Member
Jun 22, 2010
1,767
243
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North bay
Ok, maybe we're on to something. Your loan may have had to have been repurchased, that's what happened to me - you said you read Bagels at a Bar Mitzvah, I talked about the REMIC violation that I found on that thread.
I'm still research the ramifications of securitizing a loan while in a BK plan. It might be possible after by using a credit enhancement.
Anyway, possibly once repurchased you were placed in a new trust. Here's what you could do: send a QWR asking the name of the trust AND ask for a complete account history. Look for any account activity involving "investor payments" and "investor reversals". That should provide the start up date and easily identify the trust even if they don't provide the info.
Or the same questions but as a debt validation except you might want to time that with the NOS for strategic purposes.
It's also possible you were repurchased and kept as a portfolio loan and aren't in a trust at all. But wouldn't make sense then to transfer you to a sub-servicer.
Trying to second guess these guys can drive you nuts!