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Nevaeh
Reply with quote  #1 

I am looking at the PSA on foreclosure notice and it is from Deutsche Bank as Trustee of Ameriquest....asset backed pass thru certificate series 2004-X1. I can't find it in the how to find PSA. It usualy says year, then dash, then two letters, then a number, mine doesn't....what does that mean?

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Bill
Reply with quote  #2 
There are a lot of members that wouldn't have a problem helping you find a PSA, but you would need to post the name of the trust. 

Quote:

Deutsche Bank as Trustee of Ameriquest    ....asset backed pass thru certificate series 2004-X1





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Nevaeh
Reply with quote  #3 
Deutsche Bank National Trust Company, as Trustee of Ameriquest Mortgage Securities Inc, Asset backed Pass thru Certificates, Series 2004-X1 (numeral number 1, not an L...)..

Does that help?
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Ann
Reply with quote  #4 

For Securitized Mortgage Loans

The “Pooling and Servicing Agreement” is the legal document that contains the
responsibilities and rights of the servicer, the trustee, and others over a pool of mortgage loans.  The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the “Prospectus.”  If the securitization is public,
these documents must be filed with the Securities and Exchange Commission (SEC), and will be available to the public at http://www.sec.gov.  Locating a Pooling and Servicing Agreement on the SEC website can be a challenge. The most important information you willneed to find the Pooling and Servicing
Agreement is the name of the original lender and the title of the pool of loans.  We will work through an example below.  Assume that the lender is Ameriquest Mortgage Co.
We don’t know the name of the pool that the homeowner’s mortgage ended up in, but we do know that the mortgage was made on June 1, 2002.

Step One:
Go to http://www.sec.gov and click on “Search for Company Filings” under “Filing & Forms (EDGAR).”    Under “General-Purpose Searches,” click on “Companies & other filers.” Then, in the “Enter your search information” box, type in “Ameriquest” next to “Company name” and click on the “Find Companies” button.
If you know the name of the trust, type the name of the trust.

Step Two:
The page you are now looking at shows a long list of the names of securitized pools of loans.   We know the mortgage was made on June 1, 2002.  Look for the entry titled “AMERIQUEST MORT SEC INC ASS BK PAS THR CERTS SER 2002 2.”  The document number is CIK 0001175125.  Click on that number.  We selected this entry because it said 2002 on it and the loan in question was made in 2002.  There may be several other pools of mortgage loans that Ameriquest securitized in 2002 but this is the first one we come to on this list (when reviewed in late February 2007) so we will pull it up.

Step Three:
Now you see a list of documents filed with the SEC that are related to this pool of loans.
Scroll down to the bottom and you will see a document titled “Prospectus.”  This is the document that will likely be the one you want, assuming that the mortgage loan you are concerned about is in this pool.  We can only make an educated guess, unless you know the name of the securitized pool in advance (which is unlikely). Click on either “htm or text” next to this document and the Prospectus will appear.  Now, bookmark this document on your web browser, so you can come back to it easily in the future.

Step Four

Is this likely to be the document you want?  Scroll down to page S-2 and you will see a Table of Contents.  Included in that is the “Pooling and Servicing Agreement” which starts on page S-76.  Also, scroll down one more page, past the Table of Contents, and you will see a “Summary of Prospectus Supplement.”  Certain important information is listed there, including the cut-off and closing dates for loans that will be included in this pool.  The closing date is June 7, 2002.  Based on this information, you can assume that this document governs the responsibilities of the servicer of the mortgage loan in question, unless that servicer tells you otherwise and can back it up with a reference to a different agreement or pool.   Other important information listed in this Summary includesthe title of the pool, and the identity of the servicer and trustee.  The servicing rights may have been sold since this document was filed and the current servicer may be a different company but the trustee
(the legal holder of the mortgage) should be accurate.

Step Five:
Go the Pooling and Servicing Agreement to find what you need to know.  It should describe how the servicer is paid and by how much, who keeps late and other fees, what authority it has to modify the loan or engage in workouts with homeowners, and its obligations to pass mortgage payments on to the trustee.

Call or e-mail the SEC to ask for the Mortgage Loan Schedule of your Trust. Lately many people found out that their loan is NOT in the Trust that sue them.
The explaination could be the Trust sold non performing loans to specialize debt collectors or overseas investors. Or they sold the loan to Freddie Mac.
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Nevaeh
Reply with quote  #5 

thank you

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Bill
Reply with quote  #6 

Quote:

Deutsche Bank National Trust Company, as Trustee of Ameriquest Mortgage Securities Inc, Asset backed Pass thru Certificates, Series 2004-X1 (numeral number 1, not an L...)..

Does that help?



Your case is one that shows the importance of good discovery.  After taking a brief look into your trust, the trust you quoted does not exist.  I'm sure this is not a surprise to people that follow Deutsche Bank.  I'm am not saying you loan is not in a trust.  It appears that your alleged trust is Ameriquest Mortgage Securities Inc, Quest Trust 2004-x1, Asset backed pass thru Certificates, Series 2004-x1This is a conclusion after a brief look into Ameriquest.  More research is going to be needed to verify this and find the PSA and other documents to confirm this but I suspect if you begin to investigate this trust you will find this to be correct. 
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Ann
Reply with quote  #7 

Wow !! Many people told me the same thing. Their loans are not in the Trust that foreclose on the homes. Don't rush to tell the bank yet, they may just make up a assignment and continue to foreclose . Consult an attorney. Your attorney may be able to use the info for your advantage.

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Bill
Reply with quote  #8 

Quote:

It appears that your alleged trust is Ameriquest Mortgage Securities Inc, Quest Trust 2004-x1, Asset backed pass thru Certificates, Series 2004-x1



One other comment, I am not an attorney or securties expert, but I do know that even slight changes in the name of a trust DO matter. 

It is very possible that Ameriquest Mortgage Securities Inc,  Asset backed pass thru Certificates, Series 2004-x1 is a trust and that Ameriquest Mortgage Securities Inc, Quest Trust 2004-x1, Asset backed pass thru Certificates, Series 2004-x1 is a seperate trust.  The problem is that Ameriquest Mortgage Securities Inc, Asset backed pass thru Certificates, Series 2004-x1 does not exsist and the latter does. 

I cannot comment on the implications of this error.  I guess it would be easy to argue that it was a simple mistake.  That is a question for an ATTORNEY

The whole purpuse of pointing this out would be to allow you to find your PSA by doing research on the correct trust.
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The Equitable One
Reply with quote  #9 
Quote:
Originally Posted by Ann

Wow !! Many people told me the same thing. Their loans are not in the Trust that foreclose on the homes. Don't rush to tell the bank yet, they may just make up a assignment and continue to foreclose . Consult an attorney. Your attorney may be able to use the info for your advantage.



They lie. It seems to be about the only thing they do - lie. So let them. Encourage them even. Then hang them up on their own BS. Or, in a former time, allow them to "hoist themselves on their own pittards."
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William A. Roper, Jr.
Reply with quote  #10 
Generally speaking, in most jurisdictions, the Judges are going to give the plaintiffs a pass on de minimus deviations in the name as it appears in the pleadings, on the instruments and in the affidavits.  How serious an issue this might be depends upon the extent and nature of the deviation, the documents upon which the deviation appears and the disposition of the Judge.

A deviation in the name of the plaintiff as it appears within the pleadings can usually be cured through an amended pleading.  By contrast, an error in the name as it appears upon the assignment MIGHT reflect a defective conveyance.  And a deviation in the sworn affidavit might be seen as a defect in the proof.

Bear in mind that a court of appeals may view the same issue differently than the Judge in the trial court.  SO there is always some value in raising the issue of the deviation as an argument and/or objection to preserve this issue for appellate review.

Bill is correct to encourage you to pose this question to an attorney.  But bear in mind that many may shoot from the hip on this without doing any legal research.  What the lawyer tells you is very likely to reflect how the argument might be received in the court absent proper research or briefing.  Ask the lawyer.  Trust, but VERIFY.  Check the law and cases of your jurisdiction yourself and consider INCLUDING the issue as an argument or objection even if it seems marginal.  You never know which issue the court of appeals will seize upon to reverse!
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Bill
Reply with quote  #11 
Here is a copy of the POA from Deutsche Bank to the servicer.  Your trust is #46.  If you look at the signatures on this document I'm surprised they didn't just give these people a crayon to sign. 

http://www.scribd.com/doc/52021950/2004-x1
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Nevaeh
Reply with quote  #12 

Quote:
Originally Posted by Bill
Here is a copy of the POA from Deutsche Bank to the servicer.  Your trust is #46.  If you look at the signatures on this document I'm surprised they didn't just give these people a crayon to sign. 

http://www.scribd.com/doc/52021950/2004-x1


/QUOTE]

Wow thank you all, I have to admit, I was overwhelmed reading thru how to do and obtain obstructions, and wasn't really sure what I was reading...

So, if the quest trust doesn't exist, this is a good thing?   If it's not there, then I have a good case because my loan doesn't exist in other words?  If my loan doesn't exist, what does that really mean? 

I also read be careful, it could be a simple mistake, judge might give them that one...

And thank you all for your help with this...smootches


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Nevaeh
Reply with quote  #13 

if a trust doesn't exist, what does that mean?

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Bill
Reply with quote  #14 

Quote:
if a trust doesn't exist, what does that mean?



It means what you typed was not the name of a trust.  As I posted before I'm not going to comment on the implications of this because I'm not an attorney and it could just be a paperwork mistake. 

 
Quote:
If it's not there, then I have a good case because my loan doesn't exist in other words?


What trust or if your loan is in a trust does not matter.  You received a loan that you used to purchase a house.  The importance of WHICH trust is who really owns your loan, has the right to the payments, and to foreclose.  ONLY the person/entity that owns your loan (or an agent of the owner) has the right to foreclose and invoke the courts powers.  That is the Lack of Standing argument you will read so much about.  If you don't own the note and file a foreclosure you lack standing. 


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NotAProse
Reply with quote  #15 
I just received a letter from the SEC where I inquired about the P&S agreement of the trust that claims to be the holder of my note --- none found by that name.   I got the name straight off the county court records and the foreclosure notice.   I will be passing this to my attorney but I'm curious what this now means concerning standing.  Any ideas?
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William A. Roper, Jr.
Reply with quote  #16 
Quote:
NotAProse said:
I just received a letter from the SEC where I inquired about the P&S agreement of the trust that claims to be the holder of my note --- none found by that name.   I got the name straight off the county court records and the foreclosure notice.   I will be passing this to my attorney but I'm curious what this now means concerning standing.  Any ideas?


It probably means that the plaintiff inadvertently or deliberately misstated the name of the trust in the original court filings.  The plaintiff and foreclosure mill DOES NOT WANT FOR YOU TO FIND THE SEC DOCUMENTS.

They will routinely change the name in some small way.  If you make an issue of this, they will claim that this is some minor scrivner's error and that you were not prejudiced by the error.

Be sure to check any assignment recorded and/or presented to the court as evidence for consistency.

Deviation of the trust name in the assignment might or might not be more significant than the deviation in the name in the complaint.

You might want to consider making a capacity argument, essentially asserting that the trust of the name shown does NOT exist and challenging the plaintiff to prove that it DOES exist.

It seems to me that the letter from the Securities and Exchange Commission is SOME evidence that the trust doesn't exist under the name shown in the pleadings.  But I think that standing alone this isn't going to be enough to stop a summary judgment.  You probably need an expert affidavit containing averments that the plaintiff doesn't exist under this name.  The SEC letter seems to me to be a great supporting exhibit.

Talk to your attorney about ways to dispute the capacity of the plainitff and to get summary judgment evidence into the record to show the dispute as to this critical material fact.
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Sloan Peterson
Reply with quote  #17 
Hello...I hope I'm not too late to communicate with the people who posted here. I am a paralegal assisting a widowed father of 2 who is being foreclosed. Quick summary.. After being denied more times than not I finally filed complaint that was accepted and heard. Auction stopped. Banks removed case from county and filed in Federal. I have found 4 out of 5 assignments to be of robosigned, false position held, notarized by the janitor etc. So comfortable as I can be on that side however know they don't have standing they claim to have original MTG but copy of note I'm desperate to find more and more. Here's chain please any help as I'm doing this myself as attys if trusted are too expensive and I have something to prove. Original loan discharged from local bank and here we go cape cod cooperative (original) to wamu to jp Morgan to fdic to caliber to now (on notice) US Bank trust N.A AS TRUSTEE FOR LSF9 Master Participation Trust loan was rec'd in 02' then refinanced 04'
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aprioremailer

Registered:
Posts: 6
Reply with quote  #18 
Here are some links to resources:
http://www.mcdonnellanalytics.com/
http://maapl.info/
https://www.facebook.com/WorcesterAntiForeclosureTeam/
http://msfraud.org/LAW/Lounge/Standing.html
http://www.msfraud.org/advocates.html
http://stellionata.com/about
http://www.msfraud.org/law/lounge/Standing.html

In Mass the Ibanez case brought by Glenn Russell of Fall River is a major recent case.

Poke around the Law Library
http://www.msfraud.org/law.html

The Law Schools at Northeastern, Harvard, BC, BU, other Boston area law schools have assistance programs. 

https://livinglies.wordpress.com/2013/11/29/banks-fake-documents-because-they-cant-establish-ownership-of-loan/
http://www.salon.com/2013/08/12/your_mortgage_documents_are_fake/
https://livinglies.wordpress.com/2010/04/20/new-mers-case-bellistri-v-ocwen-loan-servicing-mo-app-20100309/
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