Do you have an Ocwen Loan? If so you are going to want to listen to this episode. Investigator Bill Paatalo has some interesting information regarding Ocwen and its relationship to “Security Connections- Idaho”. He will also discuss his most recent “Cease & Desist” from the SEC to the Wilmington/Christiana trust. As for SEC Cease & Desists, if the Trustees can't identify the certificate holders, how can borrowers join forces to combat these same issues? Paatalo will address the conflict between servicers who try to create the illusion of transferring the note to a trust years after the trust closes. In most cases the certificate holders in the trust have no idea a servicer is attempting to transfer defective loans into the trusts. This action alone would create all sorts of IRS pass-through tax issues for the trusts not to mention issues for the Trustee who is in breach of its duties. If the note is assigned years after the trust closed, the assignment should be considered void. Most certificate holders have no desire to acquire non-performing loans years after the closing date and are not aware of ongoing litigation between consumer and servicer. A homeowner may want to consider involving the certificate holders if a note was assigned to a trust outside of the closing date. Contact: Attorney Charles Marshall cmarshall@marshallestatelaw.com or phone: 619-807-2628 Investigator Bill Paatalo www.bpinvestigativeagency.com or phone: 406- 328-4075 Neil Garfield info@lendinglies.com or 202-838-6345 Visit the Livinglies blog at www.livinglies.wordpress.com
