Remember the GMAC Bankruptcy? Remember the efforts by Price WaterHouse Coopers to be paid A QUARTER OF A BILLION DOLLARS to document all the fraudclosure errors? Remember the WELL PLEADED efforts to have a borrower’s committee so that consumers have some input in this colossal boondoggle that will cost everyday Americans billions? (Remember after all that American taxpayers are still holding 74% of the bag in GMAC!)
The investors, the insiders, the deal makers sitting in their star chambers are all working hard to carve up the GMAC carcass quickly so that the insiders can make the greatest profit…but does anyone have any interest or concern about how this will impact the hundreds of thousands of Americans who are still making GMAC mortgage payments?
And what kind of reporting will really be done on all the foreclosures gone so wrong all across this country?
Well, let me present just one little case study and ask a simple question:
DID PRICEWATERHOUSECOOPERS CATCH THIS TWISTED UP FORECLOSURE AS PART OF THEIR QUARTER BILLION DOLLAR REVIEW?
And if they did not….what am I buying with my quarter billion dollars that I’m paying for the review? The question is simple and it is very, very important in the context of a federal bankruptcy with federal court supervision….is the following bankruptcy on anyone’s radar screen? Pay careful attention to the parties…Aurora, DeutscheBank, Homecoming, Nationstar.
Who Owns This Note?
And pay careful attention to the allegations…I will be arguing these issues in Florida’s Second District Court of Appeals on November 13….Who is the undisclosed principal?
Plaintiff, Nationstar Mortgage, LLC, sues Defendants, Michael Olenick alk/a Michael Fred
Olenick (“Michael Olenick”), Unknown Spouse of Michael Olenick n/k/a Beth Olenick, Abby
Girton alk/a Abby Beth Girton (“Abby Girton”), Unknown Spouse of Abby Girton, Mollee Olenick
alk/a Bollee Bloom Olenick-Marcus, and The Springs at Boynton Community Association, Inc.,
and states:
1. This is an action to reform a mortgage, to foreclose a mortgage on real property
located in Palm Beach County, Florida, and for all other relief within the jurisdiction of this Court.
5. At the time this action commenced, Aurora Loan Services, LLC was the servicing
agent for the subject loan and was authorized to prosecute this foreclosure action.
6. On July 1, 2012, Nationstar Mortgage, LLC became the servicing agent for the
subject loan and became authorized to prosecute this foreclosure action.
(DID YOU CATCH THAT SWITCH? DID YOU CATCH THAT FACT…AGENT…AGENT…AGENT)
8. . At the time this action commenced, there was a default under the terms of the Note
and Mortgage by virtue of the failure to make the June 1, 2008 payment and all payments due
thereafter.
9. All conditions precedent to the acceleration of this Note and to foreclosure of the
Mortgage have been fulfilled or have occurred.
10. Plaintiff declares the full amount payable under the Note and Mortgage to be due.
11 . At the time this action commenced there was due, owing and unpaid under the terms
of the Note and Mortgage $401,689.70
(REALLY…WHO TOLD YOU ALL THAT? WHERE IS YOUR NON HEARSAY KNOWLEDGE?)
12. The Law Offices of David J. Stem, P.A. was initially retained and the finn of Broad
and Cassel has since become retained and Plaintiff is obligated to pay those attorneys a reasonable
fee for their services and Plaintiff is entitled to recover those fees pursuant to the terms of the Note
and Mortgage.
(REALLY? REALLY? DO YOU GET THIS? AND WILL THE FEDS OR ANYONE EVER, EVER, EVER HAVE A WORD TO SAY?)
