Foreclosure Defense Florida

Fannie Mae Is At ALL TIMES The Owner And Holder of The Mortgage Note….

fannie-mae-documentJust what would happen if Americans finally woke up and realized that the federal government was effectively the biggest plaintiff in foreclosure cases all across America?   The banksters don’t really own anything, it’s all Fannie/Freddie…and Fannie/Freddie are in big trouble.   The entire American financial system, and especially real estate finance, is a shell game played atop a rickety old card table.

As detailed in the new book Reckle$$ Endangerment, the troubles for Fannie really hit turbocharge under Bush I, when they moved to radically expand homeownership….that meant dramatically reducing all lending standards….(while at the same time destroying our economic base) and that’s why we are where we are today….

(FannieMae On WikiPedia)

Fannie Mae is at all times the owner of the mortgage note, whether the note is in Fannie Mae’s portfolio or whether owned as trustee, for example, as trustee for an MBS trust. In addition, Fannie Mae at all times has possession of and is the holder of the mortgage note, except in the limited circumstances expressly described below. Fannie Mae may have direct possession of the note or a custodian may have custody of the note. If Fannie Mae possesses the note through a document custodian, the document custodian has custody of the note for Fannie Mae’s exclusive use and benefit.







  • triumphant says:

    Q: What do the fraudclosing “servicers” ALWAYS plead in Florida?
    A: XYZ “owns and holds the note and mortgage.”

    Does Fannie Mae instruct its “servicers” to plead the above? Does Fannie Mae have knowledge that its “servicers” are pleading the above and still choose to do nothing to correct the obviously false statement? If so, given Florida’s “verification” requirement and the Fannie Mae bulletin referenced, aren’t these complaints filed by “servicers” actually evidence of perjury? Is Fannie Mae subornating perjury?

  • Attorney Wendy Alison Nora says:

    I wrote my response that the government of the United States is foreclosing on its homeowners before I got to this part of your blog today. This is more support of that ever more obvious fact. Think about it: Ally Bank (formerly GMAC, now majority owned by the US Treasury) is the parent company of GMAC Mortgage–a major player in foreclosures, complete with persistent robo-signing; JP Morgan Chase Bank, owner of the WAMU mortgage mess through US bailout funds; Bank of America, owner of the Countrywide mortgage mess through US bailout funds; Fannie Mae, underwriter of the the mortgage securities fraud scheme with Freddie Mac, underwriter of the VA home loan securities fraud scheme are all involved in the foreclosure scheme with taxpayer bailout funds. I don’t mean to slight Wells Fargo and CitiBank, but haven’t researched their practices sufficiently nor do I have enough information on Litton Loan Servicing (Goldman Sachs) but the pattern is clear enough for an inference to be made that they are all acting on behalf of the US government under one agreement or another to proceed to foreclose on US homes.
    I think that we, as readers, are particularly well-served by clicking on the blue link within the Fannie Mae document to reach the site at which the documents for foreclosure are available to attorneys and servicers.
    Here is one piece of good news:
    This applies only to bankruptcy court actions by its terms, but that is because the Office of the United States Trustee (part of the US Department of Justice has been actively investigating what is kindly being called “creditor abuse” of the bankruptcy process.
    The opening paragraph of the MERS manifesto on how to foreclose on homes in every state (MERS Manual 2002) specifically discloses that Fannie Mae and Freddie Mac have substantial investments in MERS. “MERS is a Delaware corporation with a broad base of ownership from the mortgage industry. American Land Title Association is among our owners and has a seat on the MERS Board of Directors. Other owners with substantial investments in MERS include the Mortgage Bankers Association of America (MBA), Fannie Mae, and Freddie Mac. These parties, along with Ginnie Mae, decided several years ago that MERS would be a major benefit to the mortgage industry and worked together to create the MERS of today.” Please note that a new MERS Manual has been published for 2011. It should make for interesting reading. You can find it here:

  • Lin says:

    It seems Fannie has a magic wand and a split personality disorder!

    She uses the want to transfer Notes at will without having to record.

    Then, depending on her mood. . . one day you’re her friend and the next day you’re not!

    Basically telling the servicer, “We know our rules don’t follow the law, but you have to follow our rules… But don’t tell the borrower that we know we’re breaking the law or we’ll just blame it on you!!!

    The Fannie Mae announcement from this article states:

    (Announcement 08-12 May 23, 2008 Amends these Guides:) Servicing Note Holder Status for Legal Proceedings Conducted in the Servicer’s Name . . . .Currently, the Fannie Mae Servicing Guide grants servicers, acting in their own names, the authority to represent Fannie Mae’s interests in foreclosure proceedings as holder of the mortgage note.

    Yet in the Lender Letter LL-2010-11 of October 1, 2010, on Page 1:
    Servicer’s Basic Duties and Responsibilities:

    Servicing Guide, Part I, Section 202: Servicer’s Basic Duties and Responsibilities and Section 202.04: Written Procedures:
    As provided in the Servicing Guide, servicers service Fannie Mae mortgage loans as independent contractors, not as agents, assignees, or representatives of Fannie Mae. The servicer needs to maintain the discretion to apply appropriate judgment in dealing with borrowers and loans on a case-by-case basis, consistent with Fannie Mae’s servicing policies.

    Are we in Kansas yet, Toto?

  • Mike G. says:

    Since when do we start believing anything Fannie Mae says? How can Fannie Mae ‘At All Times’ be the owner of the mortgage note if the original lender never properly endorsed the note over to them but Fannie Mae claims to be the owner? Plus, if the Note was bundled into an MBS then the Note should have been endorsed to the Trust therefore, Fannie Mae would no longer own the note but the actual investors that bought into the MBS would be the owners.

  • Besides the fraud, cover up, destruction of property rights, devastating families and children as well as the blatant disregard of hundreds of years of real estate law – title insurers do NOT insure matter not of record. Basically, if it ain’t recorded at the office of the Clerk or Register of Deeds… the title underwriter won’t insure it. Plain and simple.

    I guess then they’d have to join other “interested parties” such as the Sponsor, Seller, Underwriter, Servicer, Sub-Servicer, Master Servicer, Trustee, Depositor, etc.

    There’s the rub.

  • Phred Maldanaldo says:

    It became apparent to me from reading FNMA’s Indenture Trust document that there is FNMA, the Company, and FNMA, the Trustee of financial trusts. Both are identified in their documents as simply FNMA. Only in a couple of places do they distinguish those roles in that document.

    FNMA, the Company, retains the beneficiary interest. Well, 1/2 of the beneficiary interest – the ability to declare a default. The other 1/2 of the beneficiary interest it splits off as the ‘cash flow interest’ passed to investors as shares which is placed in the pools of loans used as MBSs.

    When a loan defaults FNMA the Company pulls the loan from the pool and marks it ‘paid in full’. It then makes an insurance claim for the loan, notifies the non-FNMA Trustee / Servicer, and sells the loan to another lender.

  • Jim Long says:

    Are you still there?

    Is there anyone who can help a homeowner keep JPMChase/FNMA from stealing his home?

    I notice a lot of people are having PROBLEMS, as am I, but no one seems to offer any SOLUTION, and all I find are “mee-too” and complaining. I don’t need that, I need competent help fighting this. Any class-action lawyers ready for this?

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