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Securitization in Review at Trial

Another good blog post from Neil Garfield on the securitization process as it applies to foreclosure, specifically using the hearsay exception to object to the introduction of evidence at trial by the big banks and mortgage servicers.

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SEEK THE SERVICES OF AN ATTORNEY LICENSED TO PRACTICE IN THE JURISDICTION IN WHICH YOUR PROPERTY IS LOCATED. THIS IS NO SUBSTITUTE FOR A LAWYER WHO KNOWS YOUR CASE AND LOCAL RULES AND LAWS.

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Like rescission, if you start out from the wrong place, you get eaten alive by the arguments of counsel for the banks and servicers. Assume nothing. All of it is a lie. For example take the case of the Chase WAMU merger. Chase has argued in different venues that they did acquire the loans, that they didn’t acquire the loans, that they acquired the service rights and that they didn’t acquire the servicing rights. How did Chase acquire ANY rights over a loan that was previously declared to be sold to a trust where the Trustee and servicer were declared to be other parties — especially when…

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