The debt collectors that are going into courtrooms and throwing Amerikans out into the street in most cases do not own the notes they are foreclosing on. But that does not stop them from going into courtrooms all across this country and committing perjury, fraud and engaging in improper legal tactics in pursuit of their activities to throw Amerikans into the street.
No one will hold them accountable.
No one will force the debt collectors to disclose on whose behalf they are actually working.
Are these debts owed by the federal government? By shadowy foreign operatives? By terrorist cells and organizations? By China?
We’ll never know just exactly who we are transferring billions of dollars in wealth and the physical dirt that is the United States of Amerika because they’re all being permitted to hide, conceal and not disclose any of this.
Dark and perilous days are ahead of us because “our” nation’s court system failed to stand up for fundamental court and basic amerikan rights.
And the details disclosed in this document are directly contrary to the legal position articulated in most foreclosure lawsuits, “the plaintiff is the holder”. Under the Uniform Commercial Code they are not in fact the “holder” based on these facts:
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.
In order to ensure that a servicer is able to perform the services and duties incident to the servicing of the mortgage loan, Fannie Mae temporarily gives the servicer possession of the mortgage note whenever the servicer, acting in its own name, represents Fannie Mae’s interests in
“¢ foreclosure actions,
“¢ bankruptcy cases,
“¢ probate proceedings, or
“¢ other legal proceedings.
This temporary transfer of possession occurs automatically and immediately upon the commencement of the servicer’s representation, in its name, of our interests in the foreclosure, bankruptcy, probate, or other legal proceeding. When Fannie Mae transfers possession, the servicer becomes the holder of the note as follows:
“¢ If a note is held at Fannie Mae’s document delivery facility, Fannie Mae has possession of the note on behalf of the servicer so that the servicer has constructive possession of the note and the servicer shall be the holder of the note and is authorized and entitled to enforce the note in the name of the servicer for Fannie Mae’s benefit.
“¢ If the note is held by a document custodian on Fannie Mae’s behalf, the custodian also has possession of the note on behalf of the servicer so that the servicer has constructive possession of the note and the servicer shall be the holder of the note and is authorized and entitled to enforce the note in the name of the servicer for Fannie Mae’s benefit.
