Park Place Securities, Inc.
A Florida USA Corporation

Corporate Authorizations to Conduct Business in New York State and Indiana.

Win Your Foreclosure Case!
Stop Knocking Your Head Against a Brick Wall.
We Have a 'Brick Wall' Against the Banks.

In a nutshell, if your mortgage/note is in a trust and in a judicial foreclosure state, especially Florida, we can show you how to outright win the foreclosure action. Ultimately, you might even be able to get your home free without ever making another mortgage payment, under some circumstances and if you do it right. (Chances are the bank or Sub-Servicer that is foreclosing has no legal right and never paid a dime for your property. They are the ones that want a free house.) We know how and we can do things even your lawyer can't. There are some things your lawyer can do, but won't, because he doesn't want to rock the boat. We are in the business of rocking the boat until the bank imposters fall overboard!

Just as importantly, in the face of all the loan modification and other real estate scams, we are a real company with real people. We provide lots of free help and what we charge for specialized services is very reasonable. More importantly, we deliver what we say we will.

The bank has evidence but often it is fake. Most mortgage assignments purporting to transfer your property into a REMIC trust are complete fakes produced for purposes of litigation. We can prove it with evidence standards accepted by the courts. The bank can get people to write affidavits to say whatever they want them to say, and have them testify in court. What do you have? We provide lots of good advice but we can provide you what you must have: admissible evidence. Nobody else in the country is doing this for you.

Many times there is no bank foreclosing. The foreclosure complaint will be in the name of a bank, but that bank will have nothing to do with the foreclosure and will know nothing about it. Many times it is not even the Servicer named in the REMIC trust agreement, but instead some hired Sub-Servicer that has absolutely no rights at all. We will show you how to expose this cheat. This also provides you with a great advantage we explain in our Special Report.

We can save you a great deal of grief. It may not be necessary to file for bankruptcy to stop the foreclosure. Running to the bankruptcy attorney should NOT be your first step, it should be the very last. If you want to save your home, prepare to spend some time here. Even if you have an attorney, chances are there are things the attorney is overlooking. You need to be educated and prepared to keep an eye on things and understand what is going on.

Leaving it all up to the attorney is going to be very expensive and may well be a complete waste of money. There are things that attorneys just aren't going to do unless you make them. As they say: "The best consumer is the educated consumer." So grab your favorite beverage, settle into a comfortable chair, and prepare to be educated.

News You Can Use

Deadline Approaches for National Ocwen Settlement Claims

Attorney General Pam Bondi encourages Floridians to file claims with the settlement administrator, Rust Consulting, for payments under the National Ocwen Settlement before the Sept. 15, 2014 deadline. Attorney General Bondiís Office served on the executive committee that helped negotiate the National Ocwen Settlement, which will provide $125 million to borrowers whose homes were sold by Ocwen in a foreclosure sale between Jan. 1, 2009 and Dec. 31, 2013. The exact amount each claimant will receive will depend on the national participation rate; however, each eligible borrower who submits a valid claim form will receive no less than $700 by the end of the year.

Many other states are participating in this settlement. Check with your Attorney General.

We tell you exactly who we are. Our president has a long business history with lots of legal experience, plus other corporations you can easily look up. His businesses include manufacturing security products, professional registered agent for many dozens of other corporations and LLCs, publishing, audio/video production and equipment rentals, plus a bunch of other stuff. Our VP is a licensed real estate agent in Florida. She speaks Spanish if you are more comfortable in that language. Our Corporate Counsel is a member in good standing of the Florida bar. No matter how good your attorney or how smart you think you are, we provide what nobody else can in a custom package for your case: ADMISSIBLE EVIDENCE!

We answer email and you can telephone us and speak to a qualified representative. You might even get the president, he answers the phone too. We don't care about pretty or fancy websites, we just want something that works to provide you with the help that you need.

Are you current on payments, but need to refinance? Is your title history in shambles and you can't refinance? Do title insurance companies avoid your property like the plague? We might be able to help. See the index to the left for more information.

Who Owns What and Who is Who?

In the case of the Park Place trusts, "Wells Fargo N.A. as Trustee", Wells Fargo is the Trustee for a trust that was created by and is owned by Park Place Securities, Inc., a separate corporation. Wells Fargo is the Trustee of a Trust, which is a trust vehicle but not a corporation or otherwise a separate legal entity. Stated another way, Wells Fargo is the Custodian of the Trust. In the case of Park Place Securities, it owns 12 trusts. They include (in no particular order) WCW1 (2005), WCW2, WCW3 (2005), MCW1, WHQ1, WHQ2 (2004), WHQ3, WHQ4 and WCH1. In the language of the trust agreement that controls everything, called the Pooling and Servicing Agreement (PSA), Park Place is the "Depositor". Each trust has its own PSA, its own Offering Circular and Prospectus. Each trust also has its own property inventory report that lists exactly what mortgages and notes are in the trust.

Does Wells Fargo own the note? If it did, obviously there would be no trust. So No! Park Place Securities, Inc. "owns" the mortgage and the note. Wells Fargo "holds" the note and mortgage. So in Florida, that apparently is us. Normally the owner of the trust(s) is a shell corporation with very little power, but there is one critical power, that we now hold, which we can use to the homeowner's benefit. This also enhances our ability to provide admissible evidence for use in court and gives us standing to do so.

Does Wells Fargo "hold" the note? Yes, if the property is actually in the trust. The actual original note and mortgage should be physically held by the Master Document Custodian. Wells Fargo is supposed to have color copies of everything.

Keep in mind that Park Place is a corporation that OWNS 12 Trusts which are different series of certificates, or different pools of property. Wells Fargo is Trustee ONLY because of the Pooling and Servicing Agreement (PSA). The Servicer is ONLY the servicer because of the terms of the PSA. ALL OF THEIR AUTHORITY comes from the PSA. If they actually have no authority, then they have no standing to bring a foreclosure. They are not the injured parties. Actually even with the authority, they are just stand-ins for the real injured party, which is the Trust. The certificateholders or investors are the beneficiares of the trust, but individually they have no standing and do not directly own any of the trust paper. The Trust owner, Park Place, is also the Depositor. The Depositor is a term used in the PSA. In the traditional sense, the depositor is the person or entity that puts the money into a bank account, or this case, the property into the trust. Thus, Park Place is the Depositor. The property is deposited into a trust vehicle of which there are 12 owned by Park Place Securities and in the custodianship of Wells Fargo.

Why are we called Park Place Securities, Inc.? Exactly. At this point, let's just say that some banks have made critical blunders which we are exploiting to save your home. That is our secret weapon and only we can use it. We explain more in the section on Why We Do This.

A Note in a Trust Can NOT Be Re-Established.

If your property is in a Trust and the Trustee bank is trying to re-establish the note because it is lost, this is a TOTAL FRAUD. Your property is NOT in the trust and never was.

If the Master Document Custodian does not have it, it was never in the trust. Trying to re-establish a lost note is a fraud on the court, and you. The ONLY time a note in a trust could be re-established is if the MDC appeared before the court and explained to the court how it managed to lose the note, such as a nuclear bomb went off or something. Even the trillion dollars worth of instruments in that 3 story underground vault in New York that were underwater, thanks to Tropical Storm Sandy, are not lost or destroyed. They might be damaged, but there are lots of people working diligently to save them you can be sure.

The PSA provides very specific instructions on how everything is to be handled. Violating it to the point of losing the trust's property, if admitted, would open the Trustee and the MDC to millions of dollars in civil actions and void all of their authority to do anything.

The bank is saying the note is lost or destroyed because it NEVER was part of the trust and they never had standing to foreclose. Neither did the Servicer ever have the legal right to collect the interest payments.

So, in a nutshell, if a Trustee or Servicer is trying to re-establish a note that belongs to a REMIC trust, it is a complete fraud. The property was NEVER part of the trust or the Trust is, in effect, admitting to a massive fraud on the investors.

Banks & Servicers Achilles Heel: No Standing to Foreclose.

And we can prove it!

Wells Fargo and the pretenders often do not have standing to foreclose. Many notes and mortgages titled as Park Place Securities were never accepted into the trust. There are many notes/mortgages that are off-books that unauthorized Servicing Agents have been collecting payments on that they all purport to be in a Wells Fargo trust when they are not. The mortgage assignments are often frauds from foreclosure document mills and we can help you prove that in court.

Among the various issues, many foreclosures in the name of Wells Fargo (and other banks) are actually done without their knowledge or consent by the Servicer. We have seen many cases were the caption identifies Wells Fargo as Trustee as the plaintiff.

Here in Florida the complaint must be verified. (We explain the difference between verifications and oaths in another article). The attorney has no personal knowledge (though sometimes they improperly do the verification) so the complaint is verified by a bank officer. In the case that really started all of this, the verification is done by a purported officer of Bank of America, which is the Servicer. No mention in the complaint this is what is going on and no mention of the Servicer's authority to foreclose. How does the Servicer EVEN know that Wells Fargo has the original note? In reality they don't. This is a type of fraud on the court that can get their case dismissed. On top of this, we have found that the bank officer allegedly signing the verification does not exist. He or she is a complete fiction. More details in other articles on this site.

Mortgage Assignment May Be Fraudulent

Many mortgage assignments involving Park Place (and many other private label trusts) are fraudulent and were produced by foreclosure document mills in anticipation of foreclosure, not in the normal course of business or out of a legitimate desire to protect the trust. There are many factors that reveal them to be fake, but there is a real simple one you can point out to the judge. The judge is more likely to believe it, of course, if you have an Affidavit from us. The court needs reliable admissible evidence it can legally rely upon. The judge is never going to believe you versus the big bank attorneys.

The biggest tell-tale sign is if the assigment is from the originating bank directly to the trust. In the WCW1 trust the originating bank for 110 percent of the paper was Argent Mortgage Corporation and the other 10 percent was Olympia Bank. Thus, for example, if the transfer is from Argent Mortgage to Wells Fargo Bank, N.A., a trustee for the certificateholders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-WCW, it is a fraud.

It is a fraud for the simple reason that the transfer is a legal impossibility. If the transfer really happened it violates all sorts of law, and the trust would not own it at all. The trust could not own it without busting the trust. It is missing a couple of steps. The originator has to transfer it to the Sponsor of the trust. The sponsor transfers it to Park Place Securities, Inc., a SPV or Special Purpose Vehicle, which makes it remote from the originator. This makes it bankruptcy remote, which REMIC regulations require. That means if the originator goes bankrupt, a bankruptcy court could not claw back the property. In the case that started all of this, Argent sold the $500,000 mortgage for $1.00 which would normally be viewed as fraud by a bankruptcy court. Why they sold it for $1.00 is an entirely different issue we discuss elsewhere on the site.

The SPC purpose vehicle then becomes the Depositor. The Depositor, Park Place Securities which is the legal owner of all of this paper, then deposits it into the Trust, in this case 2005-WCW1. The Trust Custodian (Trustee) is Wells Fargo, named in the PSA. Wells Fargo administers the Trust accepting money from the Servicer and paying it out to the investers in each Tranche as per the terms of the PSA.

The direct transfer of the property to the Trust, ignoring the two intermediate steps, tells you without question that the mortgage/note paper is NOT in the trust. Because the assignment does not in fact transfer the property into the trust, it is without effect. In other words, it is null and void.

It isn't necessarily a forgery, because the people signing it usually did or do exist. It was probably robo-signed and has other fatal issues which another article will explain in detail. Thus, although it might not be an outright forgery per se, it is an outright fraud. It was created to decieve people. It was created to misrepresent what it really was. It is a false misrepresentation and intentional misrepresentation executed to be relied upon to cheat someone out of their legal rights and property.

Even if the real parties in interest were memorializing what they really intended to do, though after the fact, it still fails as a fraud because the property is not legally conveyed to the trust. They could have done it right, with the proper endorsements and the proper steps, but for expediency or whatever reason, chose to take an illegal and invalid path.

Even if your mortgage was transferred at the correct time and included in the property inventory list of the trust; if it has a direct transfer, legally it never made it into the trust. The parties setting up the trust engaged in fraud. Chances are they never did the paperwork before they sold the certificates and re-created it later for the purpose of foreclosure.

This is a prime example of where Park Place can provide evidence no other entity or person could. Nobody would have more standing and credibility than us.

The Banks Cheat! Stop Them.

If the loan is legally in the trust (which is more unlikely then likely) the Trustee must provide information in the foreclosure complaint how the plaintiff came to hold the mortgage contract. If the Servicer is the real plaintiff, the complaint must also provide the source of the power of the Servicer to foreclose in the Trustee's name. I would argue they have to quote the exact language from the Pooling and Servicing Agreement and then provide the agreement in discovery. In the complaints we have seen, they almost never do that. We'll tell you more about this elsewhere on the site.

To repeat, all the authority comes from the PSA, a contract and trust document. The banks break the contract with their left hand, and then with their right hand waving the contract, they claim the right to foreclose on the borrower. But, they have broken the contract and as it is their own source of authority, they have no authority. They have betrayed their trust duties, ripped off the investors, and then want the protection of the PSA/trust contract. This is inequitable conduct and unclean hands besides a plain lack of authority.

We Separate the Truth from the Crap!

We provide a lot of free accurate information. There is a vast amount of material on the internet, much of it wrong or they leave out the critical fact that would make it work for you. They tell you enough to make it sound good but leave out the one or two vital issues or neglect the limitations. Even if it is a good idea, it is usually based on something not on the face of the complaint. In other words, it is something that is going to take law and admissible evidence. You can forget about the judge paying any attention to what some pro se deadbeat borrower has to say about what they found on the web.

The above assumes that you even get the chance to tell the court about it. You have very limited opportunities to talk to the judge or to present evidence. You can present evidence at a summary judgment hearing primarily in the form of affidavits and exhibits. You get to argue law that supports your position about why the bank should not be granted summary judgment, assuming you have the knowledge and skills to do that.

Otherwise, the only other time will be at a trial and by then it might well be too late. We explain to our clients how to get issues before the court with motions to dismiss and other tactics to present your case to the court under your terms. When you are a passive defendant, you are just playing the game on their terms.

There are differences in cases and state law where some things won't work for you and others will. There is a lot of false information that can send pro se litigants on wild goose chases which causes them to loose critical time and this destroys their credibility with the court. Most people aren't legally sophisticated enough to be able to filter the useful stuff from the crap. We filter out the crap. Our focus is property that is in or is purported to be in a private label trust, however, we have lots of free information that will work regardless.

Judicial Foreclosure v. Non-Judicial Foreclosure.

There are major differences between judicial foreclosure states and non-judicial foreclosure states. Slighly over half the country consists of non-judicial foreclosure states. Among non-judicial foreclosure states there are major differences. Basically, in a non-judicial foreclosure state, the note holder can foreclose and sell off your property without ever going to court. To stop the sale, the borrower has to commence a civil action for injunctive relief. Our focus at this time is with judicial foreclosure states. However, we can provide Affidavits that could prove critical in an injunction action. The down side is, very few people who are being foreclosed have the funds available to conduct a civil action for an injunction.

In California fighting a foreclosure is especially difficult. Due to recent court decisions it has become a bit easier in Massachusetts. Trying to reverse a foreclosure auction is the most difficult thing of all and is virtually impossible in California. There are so many differences and the road is so steep, non-judicial foreclosure states are beyond our field of competence.

Techniques, Law & Arguments that Work.

We have also discovered techniques and law that virtually nobody else has or they aren't publishing it on the internet. Due to our position, we also have what you might call proprietary techniques using the law. We have an unique standing nobody else does. We provide things nobody else can, such as admissible evidence, amicus briefs and forensic evidence. These things are not free, but our pricing is very reasonable and we will get results.

Our services are inexpensive to fairly expensive. Use them as you need them. You'll see that we know what we are talking about, and our techniques and services work. Use our general help or have custom solutions designed just for you.

The PSA is public record and is available online at Edgar, the SEC website. It is a LONG read. However, that is not the whole story. The prospectus and offering circular are also important in many cases. The Master Loan Report is not public record and must be obtained in discovery. This document will list the loans and you can determine conclusively if your property is even in the trust.

The Banks Cheat the State. Use It Against Them.

One of their Achilles Heels is, they're crooked cheats. MERS, for example, was a way to cheat county clerks out of filing fees which can run many thousands of dollars per transaction. Almost everyone overlooks one particular statute in state law and the bank will never mention it. We explain how you can use state law to get the case thrown out of court. You will not find this approach anywhere on the web. We discovered it and it will likely work for you, even if your mortgage/note is not in a trust. If your mortgage is with the original bank, it probably won't work, but might. If your mortage has changed hands or been assigned, it probably will. Most mortgages have probably been assigned once and many multiple times. The foreclosure will be dismissed without prejudice. These means they can re-file if they are able to cure the state law violation.

The bank will have to spend many thousands of dollars plus pay the filing fee all over again. It will delay your foreclosure by many months. If the bank does NOT truthfully have the original note, they will likely give up entirely. It basically forces them to produce the original note, even if you are out of time for discovery. Even if it is the day before trial, this will get the case kicked. The complete package is only $411.50. If you find it doesn't apply in your state, we will come up with a new defense, just for you. If you already lost in court, but have not had a foreclosure sale, we can reverse that with our Full Defense Package.

Your Note Might Not Even Be in the Trust.

If your Note is not endorsed to the Trust, it is not in the Trust. Is your Note endorsed in blank making it a bearer instrument? Your property is NOT in the Trust. The PSA is a combination of contract law and trust law and leaves nothing to the imagination. It controls. UCC and common law of assignments and so forth is irrelevant. UCC and common law is only used when there are disputes in carrying out a contract. The PSA controls exactly how the note and mortgage must be transferred to the Trust. The Master Document Custodian must have all the paperwork properly endorsed before it is put into the Trust. Do discovery. If the Master Document Custodian does not have the paperwork, your property is not part of the Trust or a valid Trust.

If all the foreclosure lawyers can come up with are photocopies (especially black & white photocopies from the Clerk's Office), the Trustee is not foreclosing on you. Chances are your property is not even in the trust. You are likely dealing with a pretender and a pretender Servicer just out for itself.

Note Endorsed in Blank. NOT in a Trust!

Back to notes endorsed in blank. Again your property is not in the Trust. All the PSAs for ANY REMIC trust are all created under New York law. New York law does not permit a trust to hold bearer paper. It MUST be endorsed to the trust. This restriction is true in most states. If it is bearer paper, it is NOT in ANY REMIC trust legally. It is probably off-books paper and you made mortgage payments to a Servicer that had no right to collect and certainly no right to foreclose in the trust's name.

We have seen some PSA's that seem to permit bearer paper or a special endorsement to the trust. This is very misleading. A contract agreement can not over-ride state law. All of these contracts are under New York law which does not permit ANY trust to hold bearer paper.

Recently, in cases of private label trusts, some courts have recognized the importance of the PSA, but many others have told the borrower they don't have standing to raise the issue. That is wrong, but pro se and even many lawyers do not explain it to the court properly or the right motions and case law were not used. The entire issue is the standing of the Bank and/or the Servicer to bring the action in the first place. All of their power comes from the PSA. Without it, they have no authority.

If your property is not in the trust, they are pretenders. They have no authority and thus no standing and are not the true injured parties.

Fake Promissory Notes

In many cases the original promissory notes have been destroyed or otherwise lost. When the banks were in a feeding frenzy putting out these securitization deals, collecting on the note was the last thing on their mind.

If a bank claims your note is in a trust, it MUST have the original. They can't establish a lost note. That is a fraud and a total con job. If they don't have the original note your property is NOT part of the trust. If it is not part of the trust in question, they have no standing and own nothing.

When the promissory note and mortgage documents were processed they were supposed to have been scanned into a computer database in color. If the copy given you is in black & white there is very little chance they have the note.

So, if the bank has given you a color copy of the promissory note, they might or might not have the original note. Perhaps they have the note and made a color copy. Perhaps they only have the scans in the database and printed them out.

The fraud is when they claim the color copy is the actual Original Note. Color printers and copiers leave little tell-tale signs our document examiner can spot.

The biggest problem is proving all this. That is where we can save your house.

Remember: NEVER walk away from your home!

Always respond to the Foreclosure Complaint. You can be in your home for many months or years before there is a foreclosure, living there for free. The bank might never take your home legally. Read more about Vampire foreclosures here soon. I would stay until the sheriff shows up at your door with an order to evict you. (You get lots of notice of course, so naturally put your property into storage first so you are not paying the sheriff's movers to move and store it, with high service fees. Plus you have to deal with damage and good stuff is always missing. Some states might just kick you out without moving out your property. Common sense should rule.)

If you live in a recourse state, walking away is shooting yourself in the foot. Chances are your home is worth less than what you owe on the mortgage. That is called "being underwater", like we need to tell you that? It will be auctioned off, for even less than it is worth now. The difference between what the property sells for and the amount you owe is a deficiency and if you live in a recourse state (or the mortgage allows) the bank can come after you for it. If the bank does not, they will send you a form listing the amount, which will be considered as capital gains income for you.

If you walk away from your home, it is entirely possible the bank will not finish the foreclosure. They may not get a judgment of foreclosure at all. That means you still own your home. If your home is not occupied, it will get damaged and run down and be worth much much less whenever you or the bank tries to sell it. If you are up north, pipes will freeze and break. Then when they thaw, water will run everywhere destroying the house. You will owe the water bill too. The property taxes, condo association fees, and other things will all accumulate. Ultimtely the condo association could foreclose for the fees which would be a real double-whammy. If it is a house, the grass keeps growing and trash accumulates. So the city will have to come along and have to take care of it. The city will bill you at your home address.

Sooner or later this will all catch up to you and you will owe many thousands of dollars for being stupid and not living in your home mortgage payment free. Chances are, you thought you were smart and filed for bankruptcy. But guess what? The bank never got a judgment so it was not included in the bankruptcy. The deficiency is much bigger now. The house is worth much less. You owe a fortune to a whole bunch of entities and that wasn't in the bankruptcy either. You can't file for bankruptcy again for many years. You think a foreclosure action is bad, wait until this hits you. The moral, don't leave your home and don't rush into bankruptcy.

Are you an investor/certificate holder in any of the Park Place Securities REMIC offerings? We want to hear from you. Please visit the investor relations site:

If you are being foreclosed by a private label trust (by a bank acting as trustee) we can show you how to fight it. You may very well walk away with your home and a satisfied mortgage paid in full. If you are the first person in your state with a case involving a particular private label REMIC trust that fits the mold of PPSI, you will also get a big chuck (20 percent) of a valuable corporation and a long running income stream. Contact us at the email below.

Are You a Homeowner in Foreclosure? We can help, if you are pro se or with counsel. Florida has the highest foreclosure rate in the nation. We can get your foreclosure dismissed in many cases.

1 . Pro Se Tip Florida: We have seen home owners do Motions to Dismiss because the foreclosure complaint is not notarized. The foreclosure complaint does NOT need to be notarized. It must be "verified". The verification is different than an oath. An oath must be notarized. A verification can be under "information and belief" or "knowledge and belief". An oath can not be worded that way, it has to be unequivocal.

2 . Pro Se Tip Florida: Although the complaint is "verified" that is not good enough for a summary judgment. The summary judgment must be supported by an affidavit which is sworn as true under oath, with notarization. The complaint is not adequate.

3 . Pro Se Tip Florida: You can NOT file an Answer and a Motion to Dismiss. In fact, you don't have to file an Answer within 20 days. The rule is that you have to file a Responsive Pleading. The response can be a Motion to Dismiss or something else. Check your state civil rules. You can't file the answer first or at the same time.

4 . Pro Se Tip Florida: A complaint can be amended once without leave of the court at any time BEFORE an Answer is filed. If you are the plaintiff, and the defendant does not file an Answer but files a Motion to Dismiss, you will then see any problems with your complaint and can amend it. You can file the amended complaint anytime before the hearing on the Motion. If you are the defendant filing the Motion to Dismiss, don't be surprised by a last minute amended complaint. Of course, if it is done right before the hearing and it then moots the hearing and wastes the court's time, the judge is going to be pissed. Always best to talk to opposing counsel and cancel the hearing. I did that once, five days before the hearing and got a stern lecture, but there was nothing else the judge could do.

5 . Pro Se Tip Florida: Motions to Dismiss are on the basis of the complaint's inadequacies as a matter of law such as failure to state a claim or statute of limitations as well as others. A Motion for Summary Judgment is on the record in the case so it is important to have evidence such as sworn affidavits on file before the hearing. (A mimimum of 5 days in Florida.) A Motion for Summary Judgment can not be granted if there are any material facts in dispute. If there are disputed material facts, then the case must go to trial.

6 . Pro Se Tip Florida: In Florida and other states there is a proceeding that is rarely used but is completely viable under proper circumstances. This is a Motion to Strike a Sham Pleading. It is a motion to strike the complaint as a sham and fraud. This is similar and different to Summary Judgment. In this motion, you can have witnesses give live testimony. It is a mini-trial. I have defendants try these on me as the plaintiff. This really develops the record and flushes out the case. A good record is important on appeal too.

7 . Pro Se Tip Florida: A Motion to Strike can ONLY be used on Pleadings. A complaint, answer, affidavit, and limited other things. You can't use a Motion to Strike on other motions or on briefs/memorandum's of law.

8 . Pro Se Tip Florida: How do you handle affirmative defenses? If you are the defendant, you should list your affirmative defenses after the answer or in a separate document served at the same time. In some states you only need to put the other party on notice of your defenses. Florida is a fact pleading state and the party filing affirmative defenses should state enough facts to establish a foundation for each affirmative defense. In federal court, fact pleading is required, thus adequate facts should be included to form a basis for the defense. The same goes for complaints in federal court, fact pleading is required. You want to include enough facts and ultimate fact to be able to withstand a motion to dismiss. Personally I think fact pleading is a good idea in state court too and it has served me well in winning motions to dismiss by defendants.

9 . Pro Se Tip Florida: A tactic available to the plaintiff is to file a motion to strike affirmative defenses. This is a good way to try to get rid of really outrageous affirmative defenses or if they don't follow the rules and put the defendant on notice. Of course, what usually happens, in the rare cases where the motion is granted, is that they are dismissed without prejudice and the defendant gets to file them again. If you want to cause the defendant to spend money, this is a good way to do it. When the defendant files affirmative defenses, other than a motion to strike, what can the plaintiff do then?

10 . Pro Se Tip Florida: After affirmative defenses are filed or refiled after being stricken, then what does the plaintiff do? It depends and you should research your state's rules promptly. You may only have 21 days to file a reply in opposition to the affirmative defenses. In Illinois for instance, if you do not reply to the affirmative defenses, they are deemed admitted. That can be a real gotcha for a plaintiff. It can be a real benefit for a defendant in a foreclosure, assuming it is raised in trial. In Florida, Michigan and many other states a reply is not required and affirmative defenses are automatically deemed denied. However, if you want to raise new issues (an avoidance) not included in the complaint to oppose affirmative defenses, then you MUST file a reply, or those issues are waived. An avoidance is an allegation of additional facts. In Florida, never file a reply to affirmative defenses that just deny the defenses.

11 . Pro Se Tip Florida:In U.S. District Court (federal court) replies to affirmative defenses are not permitted. It is recommended that all affirmative defenses be fact pled to meet federal pleading requirements. Many courts do not consider affirmative defenses as "pleadings". Generally, only pleadings are subject to motions to strike. Defendants might demand an answer to the affirmative defenses, but that is irrelevant unless state civil rules require answers to affirmative defenses. Check your state rules to see what is actually considered a "pleading". There might be need of a consideration if affirmative defenses are included in the answer are filed as a separate document. This might be significant in certain jurisdictions and the advice of counsel is recommended.

12 . Pro Se Tip Florida: A party can not deny a statement for which it lacks information and belief. One federal court has called such a practice "oxymoronic". Some local court rules, such as the Northern District of Illinois, Local Rule 10.1, requiries that an answer repeat the contention before responding to it.

13 . Pro Se Tip Florida: If you get to trial, NEVER give your original jury instructions to the judge or the judge's clerk. Always provide a copy. Always file your original jury instructions with the Clerk of Court so that they are part of the record and you will have a record of them on appeal. Also remember to object to any jury instructions on the record to preserve that objection for appeal.

We are not a law firm. What we do is even better and more important. We provide you and/or your attorney with ADMISSIBLE EVIDENCE to prove that Wells Fargo as trustee for Park Place does NOT have the power to foreclose upon you or that the Servicer does not have the power. We have legal arguments with supporting statute that will cost them a fortune which we have not seen used in any foreclosure case. We have standing that nobody else has.

Admissible Evidence means, in part, Affidavits sworn under oath. We will also make a telephonic appearance in your hearing if necessary to provide a testimonial foundation for its admission. We will have a Notary Public in our office to provide the Oath. We have multiple notaries on our staff. If you like, and can afford it, I can appear in person to testify as an expert witness. Our rates will be very reasonable, unlike most expert witnesses.

We can also provide other types of documents, such as from the web, with evidence and testimonial support to get them admitted. We can provide documents for Judicial Notice and other things a pro se litigant and even some lawyers couldn't manage. We will also provide accompanying outlines and notes in support of all of our filings, so you can stand your ground in oral arguments. We even plan on producing visual aids of various types you can use in court to not only impress the judge but be able to explain it so the judge understands.

We will have shortly in-house Corporate Counsel (a member of the Florida bar) and we can file Amicus briefs to support your Pro Se argument or even back up your less then stellar attorney, or convince a difficult judge. We can provide an Amicus brief/memorandum of law in support of the Affidavit we prepare for you.

Our Vice President is a licensed real estate agent in Florida. The president too will shortly become a licensed agent and she will become a broker.

We will also in the near future have a documents examiner who can testify as an expert witness. Just try to find one on your own as a pro se defendant and see what it would cost you if you did. The president of Park Place is also president of a much larger company (Blue Planet Offices, Inc. and Blue Planet Security Corp.) which is in the process of setting up a new division, Blue Planet DNA Corporation. It is all easily searchable on the web. Its primary purpose is to test marine life dna, but the lab will also be equipped for forensics type testing and document examination.

Even in the worst case we can probably drive opposing counsel nuts and you keep your home for a long time. Many times the banks simply do not have the paperwork to prove the case if you call them out on it with discovery. Banks absolutely hate discovery. Discovery can really drag out the case. It also helps to know the rules of evidence really well as the banks and servicers really don't have anyone that knows anything about your particular loan. Sure they can come up with stuff on payment history, etc. but nothing on the original loan or the process used to put it into the trust. Even if they can actually produce the original note and mortgage (which is very rare) if there are defective endorsements and assignments we can attack, the bank or servicer can't possibly come up with anything to disprove your position.

Why do we want to do that?

In a sense we want to preserve the purity of the trusts. Moving property into a trust after the grace period (30-90 days) destroys the pass-through tax benefits of the trust, exposing the certificate holders and even the bank to a 100 percent tax penalty. It exposes the Trustee bank to a massive civil action. We want the Trustees to clean up their act.

We believe that many Servicers are holding property off-books by claiming it is in a trust when it is not. They are ripping off everyone. We want to end that fraud.

We believe that many Trustees and Servicers are ripping off the certificate holders and pocketing interest and foreclosure income that should be going to the trust investors.

We want to prevent foreclosures in the name of Park Place Securities for as long as we can while we purchase or otherwise secure voting rights to the Certificates in these trusts.

With enough votes we will demand an accounting from Wells Fargo and the Servicer. We are confident we will find rampant fraud. We are sure that a good percentage of the mortgages that are supposed to be in the trust are not there. We will sue Wells Fargo and the Servicers and then we will get discovery on all the certificate holders. We will contact all the certificate holders and turn our civil action into a Class Action.

With enough votes and the court findings of fraud, we are going to reform the Pooling and Servicing Agreements, removing Wells Fargo as Trustee and removing the Servicers. In reforming the trusts we will change some of the terms (which we can do with the votes) allowing our new Servicer to do meaningful mortgage modifications. We will also have the power to monitor the activities of the Trustee and Servicer to make certain all interest and other income goes to the certificate holders (less the fees we negotiate with them). We will find an honest Trustee and Servicer and we will maintain supervisory authority. Yes, we will be paid for that.

Park Place in DE is a shell with limited powers. We are an actual operating corporation in a number of states and can do many things the shell could not. Besides the Park Place shell is undoubtedly controlled by Wells Fargo. In reforming the PSA we will also take the residual income away from the shell.

The shell owns the certificates for the residual income, but they have violated so many laws in every state, except DE, and violated the PSA so badly, that we are confident we will be able to obtain the residual tranche certificates. The shell will technically still own the notes in the trust but it will do them no good as the Trustee/Custodian and the Servicer have all the power. The Master Servicer has the real power in a REMIC trust. We will supervise them all.

The Park Place Securities trusts include (in no particular order) 2004-WCW1, 2004-WCW2, 2005-WCW1, 2005-WCW2, 2005-WCW3, 2004-MCW1, 2004-WHQ1, 2004-WHQ2, 2005-WHQ3, 2005-WHQ4 and 2004-WCH1.

These trusts mainly used loans originated by Argent Mortgage Co., Orange, CA. Argent was the wholesale arm and Ameriquest was the retail part of ACC Holdings which was the sponsor of these trusts. J.P. Morgan & Co. was the underwriter.

Ameriquest, the seller of the loans to Park Place, was the first to originate the "stated income loan" which allowed borrowers to simply state what their income was without any verification. These stated income loans, i.e. subprime loans, became the cataylst for the failure of Ameriquest and a key factor in the 2007 subprime mortgage financial crisis.

For a deeper understanding of REMIC trusts see WikiPedia.

A good article we have quoted from is "Foreclose: Time to Break Up the Too-Big-to-Fail Banks."

MBS For UberNerds II: REMICs, Dogs, Tails, and Class Warfare

Also see: Peaslee, James M. & David Z. Nirenberg. Federal Income Taxation of Securitization Transactions and Related Topics. Frank J. Fabozzi Associates (2011, with periodic supplements, and Silverstein, Gary J. REMICs, Tax Management: FASITs and Other Mortgage-Backed Securities. Tax Management Inc.: Securities Law Series (2007): A-54.

Dan F. Schramm
Park Place Securities, Inc.
2011 Flagler Avenue Key West, FL 33040

Contact Us:

Park Place Securities, Inc. is a Florida, USA Corporation. Registered Agent for Service of Process: Blue Planet Offices, Inc. C23 11th Avenue, Key West, FL 33040. TakeDown Note Representative:

DISCLAIMER: Because of the generality of the information on this site, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Readers are advised to seek professional counsel before acting upon the information provided here. Information on this site is for educational purposes only and should not be construed as legal advice. Information on this site is not legal advice for your specific circumstances but is based on general issues that arise in foreclosure cases involving private label trusts. is (c) copyright 2014 by Park Place Securities, Inc., a Florida corporation and Dan F. Schramm. All Rights are Reserved.

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