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Park Place Securities, Inc.
PPSI- Special Report 01-16-2017

Another Type of Allonge Fraud re: Choice Capital Funding, Inc.

I just learned about a foreclosure case here in Key West that involves Choice Capital Funding, Inc. as the original lender, Wells Fargo Bank N.A. as the Master Servicer and U.S. Bank N.A. as the trustee in a trust called: "GSSA Home Equity Trust 2006-1."”

This is the second foreclosure action. The first one a couple of years ago was dismissed because the bank could not prove standing.

Now in the second case they have miraculously found an endorsement in blank to prove their standing. This endorsement is a RUBBER STAMP on a separate piece of paper. There is no actual signature. It is not dated which makes it worthless but apparently the court does not see it that way. This endorsement has all the indications of fraud but the overpaid attorney representing the homeowner has no clue.

In 40 minutes of research I have won his case. He sent my email to his lawyer but I have not heard anything yet.

This guy wrote me a couple of years ago but did not follow up. He did not pay the review fee. He was local and I was being a nice guy. He did buy my new book.

This potentially could help lots of people though probably the majority has already been foreclosed upon and have been scammed in a situation where a little research would have stopped the foreclosure cold.

CERTIFICATION OF POSSESSION OF ORIGINAL PROMISSORY NOTE:

This is the first page. This has a couple of issues. First, the REMIC trust is never pled in the complaint, which is typical.

It is included in the caption, but that caption is not a pleading. The banks never plead any standing or existence or what their actual position in the case is. My view is that this "Certification"” is a pleading and opens the door to getting the PSA (Pooling and Servicing Agreement i.e. the trust contract) into the case in discovery. It was filed with the complaint and note, so it is evidence in the case.

The second issue concerns the allonge. Note the wording of the Certification: "A copy of the note with all allonges, if any, is attached hereto and incorporated by reference as Exhibit 'A'." This is a standard form.

This does not "certify" the allonge. In fact, how can you certify or verify a document that "may or may not" be attached?

Let's look at the allonge and who signed it.

Bank Certification and Promissory Note

This is my email to the homeowner.

"You can NOT be foreclosed. It is legally impossible. Read on. The plaintiff's case must fail under any theory. Civil cases are by a preponderance of the evidence and you have much more than that.

First, the certification says about the allonge (if any). You can not certify the allonge by saying there might be an allonge attached to my form certification. Never mind all the issues of it being a separate piece of paper and not permanently attached, or dated, which I would of course argue too.

The allonge MUST be dated. Actually the allonge only gets the loan to the sponsor, not into the trust, but the courts ignore the entire trust issue of course. You can make them pay attention. There must be an assignment in this case too. Has your lawyer gotten the power of attorney in discover?

More importantly, the person signing the allonge for Choice Capital Funding had no authority to do so. Statutory officers, President, Vice President, Secretary and Treasurer must be listed in the formation documents, in an annual report, or in a proper notice changing the statutory officers. ONLY statutory officers can sign for a corporation, unless there is a resolution by the board of directors and that person is issued a power of attorney by the corporation.

Marci Marshall might be related to the President I would guess (if she even exists), but she has, again, no authority to sign for the corporation. She is not listed in any document filed with the Secretary of State.

In Georgia Secretary of State Documents the company closed in 2007 and was administratively dissolved in 2010. Thus the date of the allonge becomes more important. It was dissolved in FL in 2007. This was shortly after the trust closed in 2006.

Marci Marshall was NEVER an officer of the corporation, much less vice president. I have looked at the annual reports and such a person was never an officer or director of the corporation.

Scott Marshall is listed as the CEO and CFO. That means he is president and treasurer. Mitzi Marshall is listed as the secretary. NO VICE PRESIDENT is ever listed in corporate records. I have reviewed all the annual reports and other documents in both states. In other words, legally Marci Marshall does not exist.

I did a deep search of all corporate records of State of Georgia and a Marci Marshall was NEVER an officer of any Georgia corporation whatsoever.

CONCLUSION: The allonge is signed by a person with no corporate authority to do so. Marci Marshall is not an officer of Choice Capital Funding and never was, and further is not a current or former officer of ANY Georgia corporation. Choice no longer exists and can no longer create any corporate document. Getting a corporate resolution and power of attorney from them is impossible. The allonge is not dated which is fatal. The certification does not actually cover the allonge. Nobody can certify something which "may or may not exist." As there is no date to the allonge and it could have been stamped when the corporation did not exist in Florida, that would render the note null and void. Also there are legal problems with the plaintiff coming up with alleged evidence they did not have at a previous trial, etc. Your attorney should know how to handle that and get it excluded with a Motion in Limine. DO NOT wait for a trial to do it. That is lazy and stupid.

You need to get all this evidence into the record in writing with a Motion in Limine well before a trial.

Your attorney will know how to get it all introduced into evidence, but I recommend the motion as I outlined prior to any trial."

--END--

Although not spelled out above, Choice Capital Funding Inc. was writing loans in Florida BEFORE it legally existed which was not until November 2003. All of those notes would be null and void. This is detailed in the corporate public records held by the Florida Secretary of State.

I should add that it is obvious that no corporation is going to use a stamp that has the wrong name on it to convey hundreds of thousands of dollars worth of promissory notes. Depending upon the number of loans from them that went into the trust, it likely is many millions of dollars of fraudulent conveyances.

The corporation ceased to exist in 2007 in Florida and Georgia although it took Georgia until 2010 to formally administratively dissolve it.

Thus it is entirely possible the allonge was “created” when the corporation did not exist and as it is not dated, there is no way to prove otherwise. Certainly a foreclosure case can not be decided on "“assumptions" for the plaintiff.

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

Email: dan@blueplanetoffices.com

Office: 305-570-1188

Urgent Matters- Dan Schramm, CEO direct: 305-394-3439

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