Who to Sue in a Foreclosure Defense !

Who would you say is the correct party I should be suing in order to save my home.

The answer is in identifying who governs the sale of the purported loan. The Purchase and sale contract among others (also see Mortgage Loan Transfer and Assumption Agreement) governs the sale of the purported loan.  These documents and contracts do in fact govern the sale of a whole loan asset or closed loan, “the mortgage” and therefore contain a essential seller representations and warranties.

The “reps and warrants” I have reviewed obviously relate to the sellers obligation to the purchaser and merit enforcement of all the conditions upon sale.I aver to your offices pursuit of a whole loan asset for which the mortgage seller is culpable to the loans purchaser for the transaction at time of sale.The Seller failed to satisfy its demand for repurchase and is lost to a lawful recovery whereby it must cure the deficiencies and settle the claims before it can foreclose.

These  findings are by the Purchasers own admission as secondary markets participants and are made in public domain.  Additionally, the terms and conditions of the reps and warrants will vary, as different counterparties to the transaction negotiate these individually with the seller.A Government Sponsored Entity (“GSE”) outlines their reps and warrants within their respective servicing private-label transactions (“PLS”), These reps and warrants are commonly included within the transaction documents (e.g., purchase and sale agreements).

Finally, in a transaction where a financial guaranty is provided (often by a monoline insurer (MI)) there are also stipulations within that guarantee agreement.

An insurance company that provides guarantees to issuers, often in the form of credit wraps, that enhance the credit of the issuer. These insurance companies first began providing wraps for municipal bond issues, but now provide credit enhancement for other types of bonds, such as mortgage backed securities and collateralized debt obligations.

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