[ShortSaleBuyingExperts:52] SECURITIZATION: If They Did It Right ! ( Update: Housing Crisis-More Pain to Come! )

[Short Sale Buying Experts]

SECURITIZATION: If They Did It Right !
PLUS: Update: Housing Crisis - More Pain to Come !

In the First Article by: Neil Garfield, Goes further into
SECURITIZATION . . .

"Sometimes it IS easier to prove a negative than a positive. Your
opposition has
far more facts than you do and in due process, should be required to
prove them
up into a prima facie case using real evidence from competent
witnesses, with
real documents that nobody played with before initiating foreclosure.

So let's take a look at how all this WOULD HAVE BEEN DONE, because
most judges, even today are seeing the transaction through this
lens.". . .

He goes on later in this Article to state:

"OK so you feel a little lost. That is because most of us are jumping
in at the
end of a long series of events and documents. The most important point
for
you to make in order to jar the Judge’s thinking is that the closing
with the
borrower took place in the middle of the chain of securitization and
within the
context of the securitization documents executed without the borrower,
before
the borrower existed even as a prospective customer for the loan
product."

NOTE: This Article Also Includes a Kings County, NY Supreme Court
Ruling . . .

NOMINEE, NO POWER, NO AUTHORITY

There’s more than one way to attack the prima facie case though—here’s
a good
example of a nice result from attacking the assignment…

This NY decision lays out the legal reasoning for dismissing cases for
problematic
assignments:

Decided on April 19, 2010

Supreme Court, Kings County

The Bank of New York, as trustee for the benefit of the Certificate
holders,
CWABS, Inc., Asset Backed Certificates, Series 2007-2,

v.

Sameeh Alderazi, Bank of America, NA, New York City Environmental
Control Board, et al.

READ MORE At:
http://Groups.Google.com/group/ShortSaleBuyingExperts/web/SECURITIZATION-If.They.Did.It.Right.pdf

THE NEXT ARTICLE POSTED IS . . .

An Overview of the Housing and Economic Crisis
– and Why There Is More Pain to Come / Article at:

http://ShortSaleBuyingExperts.googlegroups.com/web/Housing.Economic-Crisis-More.Pain.to.Come_2010-05-13.pdf

Mind numbing to go through all at once. But this presentation contains
in graphic
slide form contains everything we have discussed and learned over the
last 3 years.

Parts of this presentation should be used as exhibits, parts should be
referred
to by Experts doing declaration. This is being sent out to . . .

ALL EXPERT WITNESS WORKSHOP PARTICIPANTS AND ALL DISCOVERY
and MOTION PRACTICE WORKSHOP PARTICIPANTS.

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--
Hope You FIND this Info and Your Group HELPFUL,

Steve:Weber
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