What do you do when you can't prove what you know?
Kingsman Funding
Often people trying to defend themselves in law suits know that certain facts of their case are true concerning how securitization works, assignment of loans, etc. or the hard facts as to who does own their loan, but they don’t presently have the documentation or authorities to support it or they may not even have found where to get it. But they can still make a filing when they have little or no evidence at all.
The mistake people make is declaring things as fact as if on their own knowledge and on things they have no credentials to testify about.
There is a case in North Carolina where we have no hard evidence the foreclosing bank does not have the loan, only what a service person told them on the phone. But that is enough when you can pull it all together without making your ownself the authority on anything. This is what we wrote:
The affidavit of Default that is in the court file dated January 24, 2011 and upon which all material facts attested to as a basis for the court to grant an order for foreclosure rests affirms that Wachovia Mortgage, a division of Wells Fargo Bank N.A is the holder of the promissory note that is the debt upon which the foreclosure to be conducted is based.
However, Record Owner Defendant herein affirms authoritative documentation by service personnel of Wachovia Mortgage on January 18, 2011 that the “Investor” in this loan is Wells Fargo Bank N.A and that they have been the Investor since August of 2007, which loan was made August 17, 2007, more than two years before Wachovia Mortgage merged with Wells Fargo Bank N.A.
Record Owner Defendant herein affirms as historical and academic fact documentable from various authoritative sources if disputed, that the term “Investor” used in this context by mortgage service personnel is understood to refer to entities who purchase mortgage loans in volume for bundling and securitization and which are subsequently placed into a pool of loans to serve as security instruments or promissory bonds to back or secure Mortgage Participation Certificates (PC’s) being sold to the investing public.
Record Owner Defendant herein affirms again, Wells Fargo Bank N.A is identified by authoritative service personnel of [THE NAME OF THE COMPANY] as the Investor since the beginning of the loan indicating that Wells Fargo Bank N.A’s relationship to this loan as “Investor” is not referring to their supposed ownership of this loan that resulted from Wachovia Mortgage merging with Wells Fargo Bank N.A November 1, 2009 some two years later, but that even before the original lender changed its name to Wachovia Mortgage the loan had in fact been sold as an investment vehicle for securitization to Wells Fargo Bank N.A.
From the Securities and Exchange Commission, Release nos. 33-6518; 34-50905; File No.. S7-21-04, RIN 3235-AF74 ASSET BACKED SECURITIES; Final Rule; request for comment, (relevant portions herein attached ABS) we find on pages 10 and 11 under the heading “Overview A. What are Asset-Backed Securities?” ….In a basic securitization structure, an entity, …known as a sponsor, originates or otherwise acquires a pool of financial assets….It then sells the financial assets…..to a specifically created investment vehicle that issues securities “backed” or supported by those financial assets…..” “The ABS market….has rapidly become an important part of the U..S. capital markets. One source estimates 2003 new issuance close to $800 billion.” The footnote to this (30) states, “The four primary asset classes currently securitized are residential mortgages, automobile receivables, credit card receivables and student loans, which represent approximately 52%, 19%, 16% and 9% of 2003 new issuance, respectively.” This being the case, that means as far back as 2003, 416 billion dollars in mortgage loan receivables accounted for 52% of this total Asset-Backed Securities market, and as indicated, such market has grown each year since the creation and use of such financial vehicles began in about 1990 at 46.8 billion dollars, which gives rise to reasonable suspicion this mortgage loan account may have become part of such an Asset-Backed Securities pool, and if so, as indicated it would have been sold to and owned by the “specifically created investment vehicle that issues securities “backed” or supported by those financial assets…..” and, as we have stated, could not then or now be actually held or owned by Wachovia Mortgage, a division of Wells Fargo Bank N.A if it is still in such an Asset-Backed Securities pool. Wachovia Mortgage, a division of Wells Fargo Bank N.A offers no affirmation that the debt instruments can actually be produced to evidence this is not the case or to support their affirmation they are holders of it to support their standing to have brought this claim.
Further, Record Owner Defendant herein affirms as historical and academic fact documentable from various authoritative sources and documentation obtainable from the asset backed securities industry, if disputed, that the original lender World Savings Bank FSB, at the time this loan, had as a standard practice the securitizations of all loans then being made by it.
Record Owner Defendant has in fact identified on the self authenticating official website of the Securities and Exchange Commission http://www.secinfo.com/$/SEC/Registrant.asp?CIK=1399277 that there has in fact been created an asset trust Wells Fargo Mortgage Backed Securities 2007-8 Trust of the same month and year as the loan of Record Owner Defendant which was open as of the date of Defendant’s loan into which it could have been sold.
Further, Record Owner Defendant herein affirms as historical and academic fact documentable from various authoritative sources and documentation obtainable from the asset backed securities industry, if disputed, that such trusts created through which the Mortgage Participation Certificates are sold must be the holder, owner and in possession of all notes and security instruments on which the Mortgage Participation Certificates sold rest for security or the trust would be committing fraud on its investors, such that if such an asset trust were the actual owner of the loan, that it is the actual repository of Defendant’s loan instruments and not Wachovia Mortgage, a division of Wells Fargo Bank N.A as affirmed in the affidavit of Default January 24, 2011 that is in the court file and upon which all material facts attested to as a basis for the court to grant an order for foreclosure rests raising presently the material fact in question as to whether such a securitization trust or one of the same nature as Wells Fargo Mortgage Backed Securities 2007-8 Trust is the actual owner of the loan, and actual repository of Defendant’s loan instruments and not Wachovia Mortgage, a division of Wells Fargo Bank N.A as affirmed in the affidavit of Default January 24, 2011 that is in the court file and upon which all material facts attested to as a basis for the court to grant an order for foreclosure rests.
Premises considered, the court cannot allow its order in foreclosure to be effectuated until it is determined in a reopening of this case whether such a securitization trust or one of the same nature as Wells Fargo Mortgage Backed Securities 2007-8 Trust is the actual owner of the loan, and actual repository of Defendant’s loan instruments and not Wachovia Mortgage, a division of Wells Fargo Bank N.A as affirmed in the affidavit of Default January 24, 2011 that is in the court file and upon which all material facts attested to as a basis for the court to grant an order for foreclosure rests, and the ORDER PERMITTING FORECLOSURE must presently be enjoined or vacated until this question is resolved.
So you can put a case out there that gives you the time to find the evidence or try to get it from discovery to prove your positions even when you don’t have it now. If there are questions we will try to answer, Dr Weatherly
On another very important subject let me add something.
Most people don't understand this, but God was in Christ paying for all our sins on the cross and its over and done and finished and He's not angry with us about anything any more.
The Bible says, He is for us, not against us.
He died in our place to purchase us for Himself and if you'll give in to Him, there's nothing He won't be able to do in your life.
I know, I have been with Him for 41 years.
And when we finally leave this world, we'll live with Him forever,
if we belong to Him.
If you need to think about that or you have someone in mind that does, I'll be glad to talk with them. My number again was 662-489-6554. I just wanted you to know that.
Dr. Weatherly
