Response to the Lenders Objections PHH Mortgage

“When your paperwork is woefully incomplete in a foreclosure case, you can ask for a delay or you can drop the case or have it dismissed, and you usually get another chance. Bankruptcy, by contrast, is kind of a one-shot deal by nature. The judge will add up all the debts, add up all the money available, approve a plan, and that’s it. Very limited do-overs.

Olga’s motion listed a number of problems:

# PHH didn’t own the note.
# The owner of the note was not joined in the proceeding.
# PHH did not file all the documents necessary to show that it was authorized to bring the claim by the holder of the note.
# PHH therefore is not the real party in interest and had no standing.
# The documentation for the securitization trust that probably owns the note probably severely limits the way notes and mortgages can be handled, but
# The mortgage documentation was not provided, so there is no way to know if it was assigned properly.
# The note was provided, but it had an endorsement dated after the bankruptcy filing.

These items are explained a little bit more in Olga’s Response to the lender’s objection to her motion to expunge the proof of claim, which is a pretty good summary of things borrowers might want to think about when they are considering whether to contest foreclosures. MERS was a nominee at some point, but was not directly involved in the case.”

Calculated Risk guest post from albrt.

Full Response to the Lenders Objections PHH Mortgage Here


One Response to “Response to the Lenders Objections PHH Mortgage”
  1. debi j says:

    It is deplorable that they even ask the crooked freddie mac “vp” to comment on such an issue. Talk about bias!! Can this whole mess get any worse for the homeowners? Doesn’t any one realize how well planned out all of this was? It was the rape of the US citizens….all at once. The banks got bailed out to help us, not to buy assets and hide records and manipulate us all like we are their puppets….I think we are!
    If they have no accountability for the documents, and they want to enforce those documents with no proof, we are all so screwed….Is there any thing left for them to steal from us?? perhaps our digity. So in amazement of all the greed, lies, deceipt, fraud and they come out victorious ???? Why is everyone in the dark???
    completely frustrated, boynton beach florida
    debi j

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