SUCCESSION OF ASSIGNEMENTS

The party “A’ funds the mortgage using a bank warehouse lines. In order to originate the mortgage it provides its warehouse lender bank a blank endorsement and blank assignment as a prior-to –funding stipulation.
When Party “A” in turn sells the loan it must complete the blank instruments in the name of the assignee. The party “B’, who funds the mortgage is using a bank warehouse line. Again, in order to originate the mortgage Party “B” provides its warehouse lender bank a blank endorsement and blank assignment as a prior-to –funding stipulation.
Once again, when Party “B” in turn sells the loan it must complete the blank instruments in the name of Party “C”, the next assignee in line.

Principal Item Principal WH Bank Step Note and Deed of Trust
Party “A” Funds Party “A” Nat’lCity PTF Blank Endorsement
PTF Blank Assignment’Mers Corp
Party “A” Sells PARTY”B” Nat’lCity PTF Endorsed Note to PARTY”B”
PTF Assignment PARTY”B”
PARTY”B” Buys Party “A” Citibank PTF Blank Endorsement
PTF Blank Assignment’Mers Corp
PARTY”B” Sells PARTY”C” Citibank PTF Endorsed Note to PARTY”C”
PTF Assignment to PARTY”C”
PARTY”C” Buys PARTY”B” BofA PTC Endorsement to Trust
PTC Assignment to Trust Mers Corp
Sponsor Sells PARTY”D” NY Trust PTC Transfers conveyances & Sale
PTC Of common /Preferred shares

Party “C” buys the loan from Party “B” through its own securitization lines of credit called a special purpose vehicle. The SPV is a warehouse line that is capped at a certain dollar amount. The SPV is then sold as a conveyance of a single asset into trust called a special purpose entity. If the transfers and assignments leading to the conveyances were done correctly, they would look as follows using the dates below as an example:
Party “A” assigns to Party “B” on January 25th 2005
Party “B” assigns to Party “C” on March 31st 2005
Party “C” assigns to sponsor on June 30th 2005, and does so transfer and convey title to Party “D” a NY Statutory Trust.

The consideration for the first and second assignments will cause the blank endorsements to be completed. The third transfer is in the name of the sponsors and the sale into securities is by a sale and conveyance of title held as the corpus under the indenture for Trust and subsequent sale of fractional interests thereof.
Upon the formation of trust, there cannot be any open end assignments or blank endorsements of the promissory note.
Economic Accounting

Our services include proper accounting and analysis by dates to verify the lenders claims in a foreclosure. A copy of the results in affidavit form is provided to your attorsy for submission into court. If the dates and accounting do not match , the forelcosure claim is impaired and the findings must be brought into court.

For more information write
registerclaims@live.com

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