These were and still are securities transactions with no disclosure to American Homeowners. SEC Rule 10b-5. Not only invalid but fraudulent – the worst Ponzi scheme in the history of the world!
SubTopic: What Happens if MBS Are Not Backed by Mortgages? How does that play out in foreclosure litigation?
Thursdays LIVE! Click in to the Neil Garfield Show
Tonight’s Show Co-Hosted by Neil Garfield and Charles Marshall, Esq.
with Bill Paatalo, PI
And Special Guest Russell Baldwin
Call in at (347) 850-1260, 6pm Eastern Thursdays
Russ Baldwin has some special insights into a continually developing area of foreclosure defense — what if the presumptions are being applied when the document is not facially valid. When the document requires extrinsic evidence to identify parties or their authority and the extrinsic evidence is neither attached nor identified, is the document facially valid?
I say no it isn’t. If you wrote out what appeared to be a check for a sum of money made payable to a party who could only be identified by reference to a power of attorney or trust agreement, the…
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