[BROKERDIRT] LPS earned operating income of $290 million in 2011 on $2.1 billion in revenues, pays NY a penalty equal to the average price of a Manhattan apartment and LPS shares rose (and the beat goes on)
April Charney
great headline and graphic (Lien-ing Badly) chart from the New York Post (article link is below). Fellow bootcamper, Linda Tirelli, is quoted and she speaks the truth and not just for NY.
All foreclosure defense and consumer bankruptcy lawyers are continuing to see fabricated documents created in anticipation of foreclosure or litigation everyday in court filings across America.
This is to be expected of course because the loan transfer documents were not created and the loan transfers did not actually occur in the time or according to the exacting limitations of the trust agreements that exist between the investors and the loan owners that set up only way a loan can become part of a trust backed by residential mortgages.
The securitization agreement sets out in exacting terms the only path for any loan to legally become part of the assets of the trust.
If loan documents do not follow the exacting transfer path set up by the securitization contract, the loan is not and cannot ever become an asset of the trust.
This fact alone may provide breach of contract and other claims on behalf of investors against counterparties to the trust agreement.
But it is when those missing loan transfer documents are fabricated in anticipation of litigation and/or recording and filed in court or recorded in the property records that the acts of fraud on the court and false document recording occur.
That is why we continue to see fabricated loan transfer documents filed and recorded.
There is no legal way to ever create these most precious missing loan transfer documents. Ever.
Think about it, why would you want your pension invested in a bad loan in default?
Why would you ever authorize a "bank" to claim such ownership on your behalf?
Why would the IRS give a passive tax shelter to such an investment?
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