Liens and reconveyances

To continue from where we left off. If the liens of record are moved off title instead of having  been satisfied and having left the demand issuer whole, then the G/L reads much differently. The transaction would read twice the value of the income wire .

This is what we do. Show through the HUD 1 and from discovery the liens  of record were never satisfied or never paid as represented at closing!

ABA   Wire into Settlement            546,250
Liens   of Record                 0.00
Reconveyances             546,250
Equity Held         $1,092,500

The F/C Defense is in the Liens of Record

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Herein is an accountants view of a convetional mortgage loan funding.

The ABA wire into settlement is offset by the liens of record or payoff demand . The demands are setoff by the reconveyance of the liens that were satisfied.  The amount satisfied or paid in settlement constitutes a new mortgage .

What then is the purpose for the lenders post TARP reconstitution agreements?

ABA   Wire into Settlement            546,250
Liens   of Record           (546,250)
Reconveyances             546,250
New   Mortgages            546,250

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The F/C Defense is in the Liens of Record

Herein is an accountants view of a convetional mortgage loan funding.

The ABA wire into settlement is offset by the liens of record or payoff demand . The demands are setoff by the reconveyance of the liens that were satisfied.  The amount satisfied or paid in settlement constitutes a new mortgage .

What then is the purpose for the lenders post TARP reconstitution agreements?

ABA   Wire into Settlement            546,250
Liens   of Record           (546,250)
Reconveyances             546,250
New   Mortgages            546,250