The Challenge for Discovery

The challenge for the matter in discovery is isolating the proper requests that cites each foreclosure creditor will rely on ineffective States rules held in the RCW 61.24.005. Therein are the inapplicable definitions for which the matter of a non judicial foreclosure proceedings is argued enforceable. Under the RCW 61. 24. 000 et seq is the affirmed understanding for a board jurisdiction  for obligations considered eligible non-judicial foreclosures whereby each is held as “other than Trust”.

Definitions – meaning the applicability  for RCW definitions set forth for parties in a non judicial foreclosure that are inclusive of  a private parties power of sale.

The controversy will not die soon whereby the foreclosing parties are the  originating lender who is the successor and assigns for the securities converted from the original mortgages cumulative cost .

Consider for example , one quart of lemonade held in a pitcher that is sold by Party “A” to Party B”.  The sale is for the entire contents held in the pitcher.  Here are two transfer and sales considerations to consider –

a) Party “B” accepts the lemonade under the condition the purchaser must bring your own pitcher”.

b) Party “B” accepts the goods sold contained in the pitcher and this accounts for the adjustment in price for the pitcher comes with every sale.

In the first sale the lemonade is sold in a REVOLVING  … pitcher filled and the emptied and then filled and then emptied. One pitcher serves a years demand in lemonade

In the latter example the sale consist of whole product with container and content sold together.

A mortgage Warehouse line is used to allow the lender to originate mortgages using his own funds. 10 loans originate and fund for a total face value of  $5.0 million.  Each loan is listed by the files identification of thefollowing:

The borrower: First___, Last___ , Address___, City___, State___, Postal___, Loan___, UPB___, Settlement____

For comparison sake, there is a vast difference in transfers of 10 units or transactions using one delivery and proprietorial devisee for purposes of that certain instrumentality.  In the first example,  one pitcher is needed to conduct 10 sales.

In the second example , the burden for selling the contents is the added cost of  the next 100 pitchers and thereafter another 10 pitchers.

A revolving warehouse line is massive container holding the contents of 1000 mortgages. If the funding facility offered by the bank has a ceiling or is capped , the Sellers line is his likelihood that will be is contingent on the wire from the investors. So the warehouse line is a vehicle that will originate a loan at a time and then transfer the sellers aggregate pooled investment to the purchaser.

A non -revolving capped warehouse-line is finite and thus “revolving”. This means it is filled then emptied upon delivery.Purchaser will accept the 10 files as a transfer for sale of the closed “whole loan” assets offered by the seller. The container holding  mortgage’s never left the FDIC Bank.

Upon receveing the sellers wire the FDIC bank can clear the container or platform holding the UPB , back to zero, and allow the lender to start orginating loans again . Thus the container is empty for the seller to fill again for subsequent sales. Herein the warehouse line is definitely  “capped” or held to a ceiling .

If the bank warehouse line was uncapped, the commercial lines are considered infinite and can not be capped. The mortgage loans totaling 100 units are the goods sold in a massive container. The container is a special purpose container SPC that is considered in the sale price as theloans are sold 100% enclosed in the container

The SPC or special purpose vehicle holding the mortgages does more than just acts as a container. The SPC or special purpose vehicle holding the mortgages takes on a denovo , or new business entity for it self.

In the SPC are the operating statements for the  entire pooled investment. Its balance sheet and profit and loss with audited statements. The SPC or SPV is in fact a Closed Ended Mutual Fund.

The loans in essence are transferred to the transferee under a bailment arrangement. The lender give the permission to the FDIC Bank forward by mail his collateral with a completed endorsement stamped on bank and completed corpoarte assignment.

Woe to the attorney for either party in conflict who denies this fact.

  1. The holder and then its subsequent assignee is corrupt and acting unlawful to leave open the endorsement under an SEC Private placement
  2. The estate of the holder and then its subsequent assignee is highly negligent to leave open the endorsement whereby the heirs of the estate are subject to loss from fraud.
  3. The estate of the holder and then its subsequent assignee is highly negligent to leave open the endorsement whereby the beneficiaries of the trust assets are at risk.
  4. The estate of the holder and then its subsequent assignee is highly negligent to leave open the endorsement whereby the beneficiaries of the trust assets are at liberty to perpetrate fraud in a scheme to alter the book value of the asset

For what purpose is the endorsement left in blank if not to signify the party holding the note of a presumptive subsequent event yet to occur.  Procedures are held long standing for which a blank endorsement is required with the live note prior to funding the mortgage, subject to and pending the identity of the investors.


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