David Stern Law Offices Foreclosure Fraud

By Dan F. Schramm, President, Park Place Securities, Inc.
Park Place Securities, Inc. is authorized to conduct business in Florida, New York, Indiana and Colorado. We can add your state if you become our client.
Park Place Securities, Inc. also owns Argent Mortgage Company, L.L.C. in select states. Park Place is the Depositor of 12 REMIC Trusts & Can Help With Many More.

The Importance and Power of the REMIC Depositor Has Been Overlooked by Everyone.

Countrywide REMIC Trusts & BofA

Bank of America announced in April, 2013 that it had agreed to a $500 million settlement relating to loans originated and securitized by Countrywide. Bank of America, which purchased Countrywide in 2008, hoped to resolve claims that Countrywide sold billions of dollars of securities backed by defective mortgage loans. Countrywide was sued by several pension funds and other pension funds were later added to the case. The plaintiffs alleged that all of the certificates purchased by the pension funds were downgraded to junk-bond status by late 2008.

Bank of America had said that the settlement — which has earned court approval — would resolve 80% of all the claims filed against Countrywide mortgage-backed securities.

In order to judge the adequacy of the settlement, it is important to know that from 2004 to 2007, Countrywide registered no fewer than 484 trusts with the SEC, with total original offering amounts of nearly $400 billion, or $397,797,029,020. This includes the CWABS, CWALT, CWMBS and CHL trusts. A list of these trusts by year, with the offering amounts, is available on this link.

The plaintiffs alleged that these securitized Countrywide loans were of a lesser quality than represented. The other major defect with these loans is that, in many cases, the actual loan documentation, the properly endorsed notes and properly assigned mortgages, were not delivered to the trusts as promised to investors. Even assuming that just 25% of the loans defaulted, a very conservative estimate, and involved defective loans, Bank of America is hoping to resolve $100 billion in potential liability with a $500 million settlement. Understanding the total dollar amounts of these trusts is essential to judging the fairness of the proposed $500 million settlement. The FDIC objected to the settlement on the grounds that the subset of plaintiffs it was negotiated by “had a conflict of interest in negotiating and accepting the proposed settlement because, under the settlement, they would receive substantial payments at the expense of the rest of the class.”

HOME OWNERS CAN WIN FORECLOSURES

We Have a Brick Wall Against the Banks and Servicers.

We can prove it is a forgery in any court. Our book tells you step by step how to keep it from being introduced as evidence. Generally, the promissory note is not endorsed to the trust. Had the REMIC trust parties carried out their obligations, no mortgage assignment would ever be necessary. If the promissory note is not endorsed, and the mortgage assignment is kept from being introduced as evidence, no foreclosure can happen then or ever.

Even if you have already lost your mortgage trial and the foreclosure sale has not yet happened, we can put a stop to it forever. Never face foreclosure again.

READ OUR SITE and ORDER our book to learn more.

Yes, if your property is in a REMIC trust, you can win your foreclosure trial and we can beat the banks summary judgment motion.

Read the Beginning- FREE, then Order Below
Cover, Table of Contents, First 9 Pages of Content.

171 Information Packed Pages

Step by Step Instructions on Winning in Court

Read the Table of Contents to Learn Much More

Save Your Home. The Information in this Book is NOT Available on the Internet.

$39.95 with Digital Delivery

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

Contact Us: support@parkplacesecurities.com

Telephone: 305-363-9357

Park Place Securities, Inc. is a Florida, USA Corporation.
ParkPlaceSecurities.com is (c) Copyright © 2017 by Park Place Securities, Inc., a Florida corporation and Dan F. Schramm. All Rights are Reserved.

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