McDonnell Property Analytics
Preliminary Research Memorandum
BORROWER
Linda C. Nicholls 12002 4th Avenue Southwest, Seattle, King County, WA 98146 _________________________________________ LENDER
Old Kent Mortgage Company d/b/a National Pacific Mortgage November 1, 1999 _________________________________________ ASSIGNEE
Residential Asset Securities Corporation, Series 2000-KS2
March 3, 2016
PREPARED BY
MCDONNELL PROPERTY ANALYTICS 15 Cape Lane | Brewster, MA 02631 Office Tel: 774-323-0892 | Fax: 774-323-0894
[email protected]
Table of Contents TABLE OF CONTENTS .............................................................................................................................. 2 ABSTRACT.................................................................................................................................................. 3 SUBJECT ........................................................................................................................................................ 3 SELECTED TITLE DOCUMENTS .............................................................................................................. 3
ANALYSIS ................................................................................................................................................... 5 Residential Mortgage Backed Securities Research .........................................................................................5 Residential Asset Securities Corporation, Series 2000-KS2 ...........................................................................7 The Trust Has Been “Paid Off” .......................................................................................................................9 Cold Case ...................................................................................................................................................... 10 Residential Capital, LLC Files Bankruptcy ................................................................................................... 11 Note Endorsements ....................................................................................................................................... 12 Allonges to Note............................................................................................................................................ 12 Assignments of Deed of Trust ....................................................................................................................... 15
CONCLUSIONS......................................................................................................................................... 17 CERTIFICATION ...................................................................................................................................... 18 RESEARCH................................................................................................................................................ 20 TRANSACTION DETAILS ......................................................................................................................... 20 LOAN LEVEL DETAILS ............................................................................................................................ 20 SECURITIZATION DETAILS .................................................................................................................... 21 LOOKUP REFERENCES............................................................................................................................. 21 MERS WEBSITE.......................................................................................................................................... 22 NOTE ALLONGES ...................................................................................................................................... 22 ASSIGNMENT DOCUMENTS RECORDED ............................................................................................. 23 RECORDED DOCUMENTS RELATING TO NICHOLLS’ DEED OF TRUST ....................................... 24
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Abstract SUBJECT The subject of this analysis is a consumer mortgage transaction that took place on November 1, 1999 (“Settlement Date”), by and between Linda C. Nicholls (“Borrower” or “Nicholls”) and Old Kent Mortgage Company d/b/a National Pacific Mortgage (“Lender” or “Old Kent”). On the Settlement Date, Nicholls executed an Adjustable Rate Note (“Note”) in favor of Old Kent and granted a Deed of Trust (“Deed of Trust”) to obtain funds in the amount of $100,000.00 secured by residential property located at 12002 4th Avenue Southwest, Seattle, King County, WA 98146 (“Property”). The Deed of Trust was recorded in the Official Records of King County (“Recorder’s Office”) on November 15, 1999, Document #19991115001505. (See Exhibit A. - Deed of Trust, 11/01/1999) The Note establishes the terms of a high-priced, subprime, alternative mortgage transaction that calls for the principal amount of $100,000.00 to be financed at a yearly interest rate of 9.750% for the first two (2) years. Thereafter, the interest rate was to adjust every six months according to an Index and Margin formula described in Paragraph 4 of the Note. To calculate the interest rate change, the Lender was to add a Margin of Six and one/fourth percentage points (6.250%) to the Current Index (the 6-month LIBOR) before each change date and then round that figure up to the nearest 1/8 of one percentage point (0.125%). In the month following each interest rate change date, monthly payments were to reset in an amount sufficient to fully amortize the Principal to a zero balance by a maturity date of December 1, 2029. The distinguishing Loan Level Details are described in the Research section of this report. (See Exhibit B. - Adjustable Rate Note, 11/01/1999) SELECTED TITLE DOCUMENTS 1 On January 20, 2000, Gail Crooks, acting in her alleged capacity as Loan Operations Manager of Old Kent Mortgage Company (“Assignor”), executed a Corporation Assignment of Mortgage (“Assignment #1”) which purports to transfer the Deed of Trust together with the Note (“Mortgage Loan”) to Bank One, National Association, As Trustee (“Assignee”). 1
I researched the King County Recorder’s Office and found that there are a total of twenty-three (23) recorded documents that relate to the subject Deed of Trust. These consist of:
6 Appointments of Successor Trustee; 4 Assignments of Deed of Trust/Mortgage 6 Notices of Trustee’s Sale 6 Discontinuances of Trustee’s Sale 1 Resignation of Trustee
This report focuses primarily on the 4 Assignments of Deed of Trust/Mortgage, and on a pivotal Notice of Trustee’s Sale, which I abstract in this section for the reader’s convenience. For a listing of the documents relating to the Nicholls Deed of Trust, go to the Research Section of this report, and view the “Recorded Documents Relating to Nicholls’ Deed of Trust.” Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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This document was filed of record with the Recorder’s Office on August 3, 2000, Document #20000803000299. (See Exhibit C. - Corporation Assignment of Mortgage, 01/20/2000) On March 9, 2007, Karen J. Cooper, Assistant Secretary of First American Title Insurance Company, executed a Notice of Trustee’s Sale stating that on June 15, 2007, the subject property would be sold at public auction to the “highest and best bidder.” This document was recorded on March 13, 2007, Document #20070313001435. (See Exhibit D. - Notice of Trustee’s Sale, 03/09/2007) Page 2, ¶ IV of the Notice of Trustee’s Sale states that the outstanding principal balance as of March 9, 2007 was $93,518.08; and that the next scheduled payment was due on November 1, 2006. On July 28, 2010, Thomas Strain, Limited Signing Officer of JPMorgan Chase Bank, N.A., successor by merger with Bank One, N.A. (“Assignor”), executed an Assignment of Deed of Trust (“Assignment #2”) which purports to transfer the Deed of Trust together with the money due and to become due thereon (“Mortgage Loan”) to Residential Funding Real Estate Holdings, LLC (“Assignee”). Assignment #2 was filed of record with the Recorder’s Office on August 12, 2010, Document #20100812000720. (See Exhibit E. - Assignment of Deed of Trust, 07/28/2010) On July 13, 2012, Mary A. Miller, Authorized Officer of The Bank of New York Mellon Trust Company, National Association, as Trustee, F/K/A The Bank of New York Trust Company, N.A., as Trustee, as Successor to JPMorgan Chase Bank, N.A. as Trustee, SBM Bank One National Association as Trustee by Residential Funding Company, LLC F/K/A Residential Funding Corporation, its Attorney-in-Fact (“Assignor”), executed a Corrective Corporate Assignment of Deed of Trust (“Assignment #3”) which purports to transfer the Deed of Trust with all monies now owing to Residential Funding Company, LLC (“Assignee”). Assignment #3 was filed of record with the Recorder’s Office on July 27, 2012, Document #20120727001563. (See Exhibit F. - Corrective Corporate Assignment of Deed of Trust, 07/13/2012) On July 9, 2013, Tyrone Thorogood, Authorized Officer of Residential Funding Company, LLC (“as Beneficiary”) executed an Assignment of Deed of Trust to 21st Mortgage Corporation (“Assignee”) that purports to grant, convey, assign and transfer all beneficial interest under the subject Deed of Trust (but not the note) (“Assignment #4”). (See Exhibit G. - Assignment of Deed of Trust, 07/09/2013)
~ Continued Below ~
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Analysis Residential Mortgage Backed Securities Research (1)
Using my access to Lewtan Technology’s ABSNet Loan database of Residential Mortgage Backed Securities, I found that the Nicholls Note and Deed of Trust (“Mortgage Loan”)2 were allegedly securitized into the Residential Asset Securities Corporation, Series 2000-KS2 (“RASC 2000-KS2” or “Trust” or “Issuing Entity” or “Deal”) on March 30, 2000.3
(2)
The Residential Asset Securities Corporation, Series 2000-KS2 was a common law trust organized and governed under the laws of the State of New York.
(3)
According to my research using the Bloomberg Professional Service, the Residential Asset Securities Corporation, Series 2000-KS2 was dissolved in October 2006. (See Exhibit H. – MBS Research Results, Bloomberg Screen Shots, 12/22/2015)
(4)
ABSNet Loan reports that the Nicholls’ Mortgage Loan was “Paid Off” and that the “Ending Pool Balance” was $93,518.08. (See Exhibit H. – MBS Research Results, Data Points, 12/22/2015)
(5)
I was able to verify that the Nicholls’ Mortgage Loan was scheduled for conveyance into the Trust by examining the collateral loan performance tape provided by the Servicer to ABSNet Loan each month and comparing that information to the loan level details contained in the Nicholls Loan Documents. A side-by-side comparison revealed that nine (9) out of ten (10) Data Points were a perfect match; only the Loan Number (which is often reserialized for securitization purposes) was different. (See Exhibit H. – MBS Research Results, Data Points, 12/22/2015)
(6)
Accordingly, I found that the unique characteristics described in the Nicholls Mortgage Loan documents were also present in the ABSNet Loan data, which enabled me to
2
“Mortgage Loan” or “Mortgage File” is a defined term in Article I: Definitions section of the Pooling and Servicing Agreement. 3
CAVEAT: The phrase “I found that the Borrower’s Mortgage Loan is presently being tracked as an asset…” is a term of art that I purposely use to describe what we are seeing when viewing the information available through Bloomberg. Essentially, Bloomberg provides current and historical data to investors regarding the collateral loan performance, delinquency rates, trigger events, etc. that enable investors to monitor their holdings. This data derives from the accounting supplied by the Servicer, Master Servicer, and Securities Administrator each month as required by the Pooling and Servicing Agreement that governs the Trust. Whether or not a particular Note and Mortgage were legally conveyed into a securitized Trust in accordance with “Applicable Laws” is a separate and distinct factual analysis which ultimately requires a legal opinion we do not, and cannot render here. Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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conclude that the subject Mortgage Loan – or an economic interest therein – was allegedly securitized4 into the Residential Asset Securities Corporation, Series 2000-KS2. (7)
Once I had established through my ABSNet Loan research that the subject Mortgage Loan had been tracked as an asset of the Trust, I investigated whether it was also included in the original Mortgage Loan Schedule that identified the mortgage loans slated for inclusion in this Deal.
(8)
I found that the Mortgage Loan Schedule (“MLS”)5 was included in the Pooling and Servicing Agreement filed with the Securities and Exchange Commission on April 13, 2000, as Exhibit 10.1 to the 8-K Report dated April 12, 2000. (See http://www.secinfo.com/dSevw.51.htm#1stPage and search for “Nicholls” or Loan Number “3151390”)
(9)
The Mortgage Loan Schedule identifies Linda C. Nicholls by name, address and loan level details, so there can be no mistake about whether or not her loan was slated to be securitized into the Residential Asset Securities Corporation, Series 2000-KS2 Trust. Below, I have copied and pasted the information as I found it on the SEC Info website.
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Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations and selling said consolidated debt as bonds, pass-through securities, or collateralized mortgage obligation (CMOs), to various investors. The principal and interest on the debt, underlying the security, is paid back to the various investors regularly. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS). Critics have suggested that the complexity inherent in securitization can limit investors' ability to monitor risk, and that competitive securitization markets with multiple securitizers may be particularly prone to sharp declines in underwriting standards. Private, competitive mortgage securitization is believed to have played an important role in the U.S. subprime mortgage crisis.[1] (See http://en.wikipedia.org/wiki/Securitization) 5
MORTGAGE LOAN SCHEDULE: The MLS contains the names and addresses of borrowers; property addresses securing the loans; and loan level details regarding the terms of the loans being transferred. In most cases the MLS will be attached to the Pooling and Servicing Agreement, Trust Agreement or the Free Writing Prospectus. Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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(10) The Residential Asset Securities Corporation, Series 2000-KS2 was a public offering, and the Prospectus, Prospectus Supplement and Pooling and Servicing Agreement (referred to in the industry as the “Deal Documents”) are available on the Securities and Exchange Commission’s public access website. To perform a search, simply go to EDGAR’s Company Search page and type in the Central Index Key (“CIK”) 932858, which you can do here at: http://www.sec.gov/edgar/searchedgar/companysearch.html. Alternatively, all of the relevant hyperlinks are provided in the Research Section of this report under Lookup References. (11) My preferred method of researching these same filings is to use SEC InfoSM which provides hyperlinks and enhanced viewing options. This particular Deal is found on the SEC InfoSM website at: http://www.secinfo.com/$/SEC/Registrant.asp?CIK=932858. (12) The Prospectus Supplement is the securities offering circular and it contains a helpful summary that lists the entities who participated in the securitization. This offering document may be viewed in its entirety at: http://www.sec.gov/Archives/edgar/data/932858/000095011700000710/0000950117-00000710.txt. For the reader’s convenience, I also provide an excerpt of the most relevant information. (See Exhibit I. – Prospectus Supplement Excerpt) (13) The Pooling and Servicing Agreement among Residential Asset Securities Corporation, as Depositor, Bank One, National Association, as Trustee, and Residential Funding Corporation as Master Servicer governs the securitization and describes how the mortgage loans are to be conveyed into the Trust in Section 2.01. The Pooling and Servicing Agreement may also be viewed in its entirety at: http://www.sec.gov/Archives/edgar/data/932858/000093285800000014/0000932858-00000014.txt; or at SEC Info: http://www.secinfo.com/dSevw.51.htm#1stPage.
Residential Asset Securities Corporation, Series 2000-KS2 (14) The evidence presented to me for analysis includes a copy of the Adjustable Rate Note executed by Linda C. Nicholls which contains two endorsements on page 5: (See Exhibit B. – Adjustable Rate Note, 11/01/1999) 1. The first is a specific endorsement from Old Kent Mortgage Company to Residential Funding Corporation. 2. The second is also a specific endorsement from Residential Funding Corporation to Bank One, National Association, as Trustee. The identity of the Trust is not mentioned. (15) When read together, the Prospectus, Prospectus Supplement, Pooling and Servicing Agreement, and the endorsements on page 5 of Nicholls’ Note indicate that in order for the Mortgage Loan to have been securitized into the Residential Asset Securities Corporation, Series 2000-KS2, the following purchases and sales, transfers and assignments had to be effectuated:
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Table 1 – True Sale Transfers and Assignments Involved in Securitization
FROM
TO
From Old Kent Mortgage Company (Lender)
Residential Funding Corporation (Seller/Sponsor)
Residential Funding Corporation (Seller/Sponsor) Residential Asset Securities Corporation (Depositor)
Residential Asset Securities Corporation (Depositor) Bank One, National Association as Trustee for Residential Asset Securities Corporation, Series 2000-KS2 (Issuing Entity)
(16) Moreover, these transactions had to occur between the Settlement Date of November 1, 1999 and March 30, 2000, the Closing Date for the Trust. (17) Although the transfer, sale and assignment agreements between the Originator and the Seller/Sponsor, and the Seller/Sponsor and the Depositor are not publicly available, I assume here for the sake of argument that they can be produced if necessary. (18) The endorsements on page 5 of the Nicholls Note suggest that the Mortgage Loan may have been conveyed into the Residential Asset Securities Corporation, Series 2000-KS2, however, they —by themselves— are not conclusive evidence. (19) Section 2.01 of the Pooling and Servicing Agreement that governs the Trust describes the Conveyance of the Mortgage Loans into the corpus of the estate and, among other things, dictates: (iii) Unless the Mortgage Loan is registered on the MERS(R) Systems,6 an original Assignment of the Mortgage to the Trustee with evidence of recording indicated thereon or a copy of such assignment certified by the public recording office in which such assignment has been recorded; (iv) The original recorded assignment or assignments of the Mortgage showing an unbroken chain of title from the originator 7 thereof to the Person 8 assigning it to the Trustee (or to MERS, if the Mortgage Loan is registered on the MERS(R) System and noting the presence of a MIN) with evidence of recordation noted thereon or attached thereto, or a copy of such assignment or assignments of the 6
The Nicholls Deed of Trust is not a MERS Original Mortgage (“MOM”); nor was it was ever registered in the MERS® System. 7
The “Originator” was Residential Funding Corporation. (See Exhibit H. – MBS Research Results, Data Points, 12/22/2015) 8
The “Person assigning it to the Trustee” was Residential Asset Securities Corporation. (See Exhibit I. – Prospectus Supplement Excerpt) Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Mortgage certified by the public recording office in which such assignment or assignments have been recorded…(emphasis supplied) (20) Since the Nicholls Deed of Trust is not registered in the MERS® System, a complete chain of assignments of the instruments had to be filed of record with the King County Recorder’s Office, but the responsible parties failed to do so. (21) For example, the Corporation Assignment of Mortgage dated January 20, 2000 from Old Kent Mortgage Company to Bank One, National Association represents a transfer that did not, and could not, take place in reality. One of the two endorsements on page 5 of the Note shows that Old Kent Mortgage Company sold the Mortgage Loan to Residential Funding Corporation, and not to Bank One, National Association. (See Exhibit C. Corporation Assignment of Mortgage, 01/20/2000) (22) We know from the Pooling and Servicing Agreement that only the Depositor — Residential Asset Securities Corporation— could convey the assets to the Trust; therefore, the Corporation Assignment of Mortgage dated January 20, 2000 is fictitious; this also indicates there is a fatal break in the recorded chain of assignments to the RASC 2000-KS2. (23) Thus, there is a genuine issue of material fact with respect to whether real property or personal property, e.g., a payment intangible, was securitized into the Residential Asset Securities Corporation, Series 2000-KS2.
The Trust Has Been “Paid Off” (24) Again using my access to the Bloomberg Professional Service and Lewtan Technology’s ABSNet Loan database of mortgage backed securities, I discovered several important facts: (See Exhibit H. – MBS Research Results, 12/22/2015) a) All of the Certificateholders in the Residential Asset Securities Corporation, Series 2000-KS2 Trust were paid as of October 2006, and the Trust was terminated. b) The “Ending Pool Balance” with respect to the Nicholls Mortgage Loan as of October 2006 was reported to be $93,518.08. c) The Servicer at the time the Trust was dissolved was identified as “GMAC RFC.” (25) I was able to corroborate this information by researching a particular Notice of Trustee’s Sale dated March 9, 2007, filed with the King County Recorder’s Office on March 13, 2007, Document #20070313001435. (See Exhibit D. – Notice of Trustee’s Sale, 03/09/2007) (26) On Page 2, ¶ IV of the Notice of Trustee’s Sale, the outstanding principal balance is reported to have been $93,518.08 which precisely matches the “Ending Pool Balance” Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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reported by ABSNet Loan. Further, the Notice of Trustee’s Sale states that payments were due from November 1, 2006. (27) Accordingly, the March 9, 2007 Notice of Trustee’s Sale reveals that monthly mortgage payments had been tendered and applied through the October 1, 2006 due date thereby reducing the principal balance from $100,000.00 to $93,518.08 by October 2006 when the Residential Asset Securities Corporation, Series 2000-KS2 was dissolved.
Cold Case (28) After a concerted attempt to learn more about the circumstances of the dissolution of the Residential Asset Securities Corporation, Series 2000-KS2 in October of 2006; and finding no trace of the Nicholls Mortgage Loan in another securitization, I concluded that discovery is necessary to unearth the truth about what became of the Nicholls Mortgage Loan thereafter. (29) Norwest Bank Minnesota, National Association was appointed by the Trustee (i.e., Bank One, National Association) as Custodian and keeper of the records pertaining to the Trust assets. (30) The Pooling and Servicing Agreement refers to a Custodial Agreement among the Depositor (Residential Asset Securities Corporation), the Master Servicer (Residential Funding Corporation), the Trustee (Bank One, National Association) and the Custodian (Norwest Bank Minnesota, National Association). (31) According to the Federal Deposit Insurance Corporation’s website, Norwest Bank Minnesota, National Association (FDIC # 5208) has been inactive since February 20, 2004 when it was merged into or acquired without government assistance by Wells Fargo Bank, National Association (FDIC # 3511).9 (32) Thus, Wells Fargo Bank, N.A. should have records pertaining to when its services as Custodian were terminated; and to whom it surrendered the custodial documents and records belonging to the Residential Asset Securities Corporation, Series 2000-KS2 Trust. (33) Another avenue of inquiry would be to contact the certificate insurer, Ambac Assurance Corporation, and inquire as to when its obligation to insure the certificates issued incident to the Residential Asset Securities Corporation, Series 2000-KS2 was terminated, and by whom.10
9
See FDIC website at: https://research.fdic.gov/bankfind/detail.html?bank=5208&name=Norwest%20Bank%20Minnesota,%20 National%20Association&searchName=Norwest%20Bank%20Minnesota,%20National%20Association& searchFdic=&city=&state=&zip=&address=&searchWithin=&activeFlag=&tabId=2 10
See Ambac’s “Contact Us” information at: http://www.ambac.com/contactus.asp. Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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(34) One fact remains certain: at the time the Residential Asset Securities Corporation, Series 2000-KS2 Trust was dissolved in October 2006, Residential Funding Corporation11 —or its successor, Residential Funding Company, LLC— was the Master Servicer. As such, the bankrupt entity has personal knowledge as to what happened to the Nicholls Mortgage Loan.
Residential Capital, LLC Files Bankruptcy (35) On May 14, 2012, each of the fifty-one Residential Capital / GMAC companies filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the "Bankruptcy Code"). The cases are jointly administered under Case No. 12-12020 (collectively, the "Bankruptcy Cases") before the Honorable Judge Martin Glenn in the United States Bankruptcy Court for the Southern District of New York.12 (36) Based on all of the available evidence, GMAC Mortgage, LLC was the Servicer of the Nicholls Mortgage Loan at the time of its bankruptcy, but there is no evidence with respect to who the owner of the Mortgage Loan was on the Bankruptcy Petition filing date of May 14, 2012. (See Exhibit J. - Payoff Statement, 11/05/2012) (37) Berkshire Hathaway Inc. claims to have purchased the Nicholls Note and Deed of Trust on November 21, 2012 pursuant to an Order approved by the Bankruptcy Court. As evidence, Berkshire Hathaway Inc. points to an Amended and Restated Asset Purchase Agreement dated November 2, 2012 that contains a Mortgage Loan Schedule which purports to include the Nicholls Mortgage Loan. (38) Notwithstanding these allegations, Berkshire Hathaway Inc. could only purchase that which GMAC Mortgage, LLC (or another bankrupt affiliate) actually owned. (Nemo dat quod non habet). The evidence shows that GMAC Mortgage, LLC was the servicer of the Nicholls Mortgage Loan, and not the owner. (39) The Note endorsements, Allonges to Note, and Assignments of Deed of Trust described below are countervailing and demonstrate numerous breaks in the chain of title that undermine Berkshire Hathaway Inc.’s claim of ownership. (40) When the alleged beneficiaries named in the six (6) Notices of Trustee’s Sale are overlaid on top of the Note endorsements, Allonges to Note, and Assignments of Deed of Trust, the chain of title is so bewildering and the contradictions so numerous, that it is
11
On October 9, 2006, Residential Funding Corporation dissolved its status as a Minnesota corporation, and reorganized as a Minnesota limited liability corporation as Residential Funding Company, LLC. (See https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=ea5bd95fadd4-e011-a886-001ec94ffe7f and https://mblsportal.sos.state.mn.us/Business/SearchDetails?filingGuid=41ff9686-8ed4-e011-a886001ec94ffe7f respectively. 12
See In re Residential Capital, LLC, Case No. 12-12020 (MG) United States Bankruptcy Court, Southern District of New York (http://www.nysb.uscourts.gov). Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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impossible for anyone to know by reading those documents who owns the Nicholls Mortgage Loan; and who the beneficiary is as defined pursuant to RCW 61.24.005(2).13
Note Endorsements (41) The evidence presented to me for analysis includes a copy of the Adjustable Rate Note executed by Linda C. Nicholls which contains two endorsements on page 5: (See Exhibit B. – Adjustable Rate Note, 11/01/1999) 1. The first is a specific endorsement from Old Kent Mortgage Company to Residential Funding Corporation. 2. The second is also a specific endorsement from Residential Funding Corporation to Bank One, National Association, as Trustee. The identity of the Trust is not mentioned. (42) The Note endorsements conform to the requirements of the Pooling and Servicing Agreement for the Residential Asset Securities Corporation, Series 2000-KS2 and are not in dispute.
Allonges to Note (43) The three Allonges to Note were obviously created some time after October 2006 when the Residential Asset Securities Corporation, Series 2000-KS2 was dissolved. I established this fact based on research that enabled me to document the timeline of relevant events. (44) As background, Bank One, National Association merged into JPMorgan Chase Bank, N.A. (“Chase”) on November 13, 2004.14 (45) Subsequently, on October 1, 2006, Chase exchanged its corporate trust business with the Bank of New York Trust Company, N.A.15 who presided over the dissolution of the Residential Asset Securities Corporation, Series 2000-KS2 that same month.
13
RCW 61.24.005(2) – “Beneficiary” means the holder of the instrument or document evidencing the obligations secured by the deed of trust, excluding persons holding the same as security for a different obligation. 14
Bank One, National Association - Inactive (FDIC # 3618) in Chicago, IL; and Bank One, National Association (FDIC # 6559) in Columbus, OH; Inactive as of November 13, 2004; Bank One, National Association was merged or acquired without government assistance; Bank One, National Association is no longer doing business under that name because it has been merged or acquired without government assistance. See the successor institution, JPMorgan Chase Bank, National Association (FDIC #: 628) 15
Business Exchange of the JPMorgan Corporate Trust Business to The Bank of New York. Press Release: On 1 October 2006 JPMorgan Chase closed a transaction to exchange its global corporate trust business for The Bank of New York’s consumer, small business and middle-market banking Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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(46) In July of 2008, The Bank of New York Trust Company, N.A. changed its name to The Bank of New York Mellon Trust Company, N.A.16 This timeline provides conclusive evidence that The Bank of New York Mellon Trust Company, N.A. was not in existence as of October 2006, and therefore, never served as Trustee of the Residential Asset Securities Corporation, Series 2000-KS2. (47) This brief history explains why the Bloomberg screen shot titled Structured Finance Notes shows “Bank of New York” as the Trustee as of the dissolution date. (See Exhibit H. – MBS Research Results, 12/22/2015) (48) Upon dissolution of the Trust in October of 2006, The Bank of New York Trust Company, N.A. had no interest in or control over the Nicholls Note, Deed of Trust, right to payment pursuant to the Note, or whatever interest the Trust might have at one time held. (49) Three (3) allonges were allegedly affixed to the Nicholls Note as follows: 1. Undated endorsement in blank from Bank One National Association as Trustee, Residential Funding Corporation as Attorney-in-Fact signed by Amy Nelson, Vice President Residential Funding Corporation. (See Exhibit K. - Allonge #1) 2. Undated specific endorsement to Residential Funding Company, LLC by The Bank of New York Mellon Trust Company, National Association fka The Bank of New York Trust Company, N.A. as successor to JPMorgan Chase Bank N.A. sbm Bank One National Association as Trustee by Residential Funding Company, LLC fka Residential Funding Corporation, Attorney-in-Fact signed by Mary A. Miller. (See Exhibit L. - Allonge #2) 3. Undated endorsement in blank from Residential Funding Company, LLC signed by Mary A. Miller. (See Exhibit M. - Allonge #3) (50) The three allonges described above are untrustworthy, out of sync, fabrications for the following reasons:
businesses in the New York Tri-State area. Among the products that are transferring to The Bank of New York are: trustee, fiscal agent/registrar, fiduciary, collateral agent and other agency functions that support services for corporate and municipal debt, structured finance services (ABS, MBS, conduits, SIVs and document custody), collateralized debt obligations (CDOs), common depository and specialised depository roles, Euro Commercial Paper and loan agency services (Colson). (See https://www.jpmorgan.com/tss/SimpleSite/_Corporate_Trust_br_Business_Transfer_UK_/115771990956 0) 16
The Bank of New York Mellon Trust Company, N.A. operates as a nationally chartered trust company that provides trust and custody services to issuers of debt, institutional investors and individuals and has offices throughout the United States. The company was formerly known as The Bank of New York Trust Company, National Association and changed its name to The Bank of New York Mellon Trust Company, N.A. in July 2008. … The Bank of New York Mellon Trust Company, N.A. operates as a subsidiary of The Bank of New York Mellon Corporation. (See http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=20672559) Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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1. Allonge #1 purports to transfer the Nicholls Note from Bank One National Association as Trustee to an unnamed payee. This suggests that the Nicholls Mortgage Loan was being transferred out of the Residential Asset Securities Corporation, Series 2000-KS2 after the Trust had been dissolved in October 2006. a. The conflict here is that Bank One was no longer the Trustee of the Residential Asset Securities Corporation, Series 2000-KS2 as of November 13, 2004. Accordingly, Allonge #1 is a fiction; it is an absolute nullity and is void for lack of authority. (See footnote #14) 2. Allonge #2 purports to transfer the Nicholls Note from The Bank of New York Mellon Trust Company, National Association (circa July 2008) to Residential Funding Company, LLC. a. The problem here is that The Bank of New York Mellon Trust Company, National Association (“Mellon Trust”) never acquired any interest in the subject Note because the Residential Asset Securities Corporation, Series 2000-KS2 Trust was extinguished two (2) years before Mellon Trust came into existence. (See footnotes #15-16 above) 3. Allonge #3 appears to have been created at the same time as Allonge #2. Both documents were executed by Mary A. Miller who purports to be an Authorized Officer of Residential Funding Company, LLC. a. Allonge #3 depends upon the validity of Allonge #2 which is void. Consequently, Allonge #3 is also without legal force and effect and is an absolute nullity. b. Mary A. Miller also executed the Corrective Corporate Assignment of Deed of Trust on July 13, 2012 (“Corrective Assignment”). It is logical to conclude that Ms. Miller prepared Allonge #2 and Allonge #3 at approximately the same time she acknowledged the Corrective Assignment. (See Exhibit F. - Corrective Corporate Assignment of Deed of Trust, 07/13/2012) c. By July 13, 2012, the Residential Asset Securities Corporation, Series 2000-KS2 had been non-existent for nearly six (6) years. (51) These three allonges purportedly attached to Nicholls’ Note —all of which were prepared after the Trust had been dissolved— attempt to cobble together the provenance of the Note in order to give the appearance that the Note was a negotiable instrument. (52) The purpose in doing so was to create the illusion that the bearer of a Note endorsed in blank has the right to enforce the instrument. (53) Although it is for the Court to decide, it is my understanding and expert opinion that securitization destroys the negotiability of a mortgage note. Therefore, ownership and PETE (person entitled to enforce) status must be established according to common law which requires an unbroken, complete chain of title evidence. Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Assignments of Deed of Trust (54) Four (4) assignments of the Nicholls Deed of Trust relating to the subject transaction were filed with the King County Recorder’s Office. None of these assignments accurately represents the transfers of the Nicholls Note and Deed of Trust from the alleged Assignor to the alleged Assignee for the reasons explained below. 1. On January 20, 2000, Gail Crooks, acting in her alleged capacity as Loan Operations Manager of Old Kent Mortgage Company (“Assignor”), executed a Corporation Assignment of Mortgage (“Assignment #1”) which purports to transfer the Deed of Trust together with the Note (“Mortgage Loan”) to Bank One, National Association, As Trustee (“Assignee”). This document was filed of record with the Recorder’s Office on August 3, 2000, Document #20000803000299. (See Exhibit C. - Corporation Assignment of Mortgage, 01/20/2000) a. Assignment #1 is ineffective because it does not comport with the requirements of the PSA for the Residential Asset Securities Corporation, Series 2000-KS2 Trust as explained in detail above. 2. A second Assignment of Deed of Trust dated July 28, 2010, executed by Thomas Strain in his alleged capacity as a Limited Signing Officer at JPMorgan Chase Bank, N.A. successor by merger with Bank One, N.A., filed with the Recorder’s Office on August 12, 2010 (“Assignment #2”), is admittedly ineffective. (See Exhibit E. - Assignment of Deed of Trust, 07/28/2010) a. This Assignment purports to grant, assign and transfer the Nicholls Deed of Trust (but not the Note) to Residential Funding Real Estate Holdings, LLC. However, Chase as successor to Bank One had no interest in the Nicholls Note or Deed of Trust to assign after October 1, 2006 when the Trust was dissolved. 3. A Corrective Corporate Assignment of Deed of Trust was executed on July 13, 2012 by Mary A. Miller (who is the same person who signed Allonge # 2 and Allonge #3 described above). This third assignment (“Assignment #3”) purports to transfer The Bank of New York Mellon Trust Company, National Association’s beneficial interest in the Nicholls Deed of Trust to Residential Funding Company, LLC. (See Exhibit F. - Corrective Corporate Assignment of Deed of Trust, 07/13/2012) a. The problem here, once again, is that The Bank of New York Mellon Trust Company, National Association was never the successor to Bank One National Association with respect to the Residential Asset Securities Corporation, Series 2000-KS2 Trust. Consequently, it had no interest — beneficial or otherwise— in the Nicholls Mortgage Loan to assign. 4. On July 9, 2013, Tyrone Thorogood, Authorized Officer of Residential Funding Company, LLC (“as Beneficiary”) executed an Assignment of Deed of Trust to 21st Mortgage Corporation (“Assignee”) that purports to grant, convey, assign Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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and transfer all beneficial interest under the subject Deed of Trust (but not the note) (“Assignment #4). (See Exhibit G. - Assignment of Deed of Trust, 07/09/2013). a. Assignment #4 is a derivative of Assignment #3 and it is ineffective and void for lack of authority. (55) The baseline principle of our system of property regarding transfers of ownership is nemo dat quod non habet – “no one can give that which he does not have.” (Nemo Dat Quod Non Habet) 17 (56) The 3 Allonges and 4 Assignments described above were fabricated by Residential Funding Corporation and its successor Residential Funding Company, LLC in order to prosecute a series of foreclosure actions against Linda C. Nicholls, and subsequently, against Duncan K. Robertson who acquired the Property subject to the underlying Note and Deed of Trust when he foreclosed his second mortgage.
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Nemo dat quod non habet literally meaning "no one [can] give what they don't have" is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. This rule usually stays valid even if the purchaser does not know that the seller has no right to claim ownership of the object of the transaction (bona fide). (From: http://www.wordiq.com/definition/Nemo_dat_quod_non_habet) The baseline principle of our system of property regarding transfers of ownership is nemo dat quod non habet – “no one can give that which he does not have.” The phrase, in a closely related variant, traces back at least as far as the Digest of Justinian (Digest 50.54), who gives credit to the Roman jurist Ulpian (Ad Edictum 46). In other words, if I own something because someone transferred it to me – by sale, gift, bequest, etc. – I normally have only that which the previous owner had and nothing more. This is sometimes called the “derivation” principle: The transferee’s rights derive from those of the transferor. See Douglas G. Baird & Thomas H. Jackson, Cases, Problems, and Materials on Security Interests in Personal Property 3-8 (2d ed. 1987). Willingness to buy the Brooklyn Bridge is considered a symbol of gullibility because we assume everyone knows about the principle of nemo dat and would have to be out of their mind to think that the offeror actually has the rights to sell. Jeanne L. Schroeder, Is Article 8 Finally Ready This Time? The Radical Reform of Secured Lending On Wall Street, 1994 Colum. Bus. L. Rev. 291, 296 & n.6. Nemo dat is also related to the principle of “first in time is first in right.” Here the classic problem is someone, A, who transfers his or her interest to B and then turns around, and out of mistake or worse, transfers to C. Who owns the property? According to the nemo dat principle, it would be B, because A had rights to transfer when A transferred to B. Now B has the rights. When A later transfers to C, A has no rights to transfer and hence by nemo dat C gets nothing. Of course C could sue A, but A in such situations will often (not coincidentally) have fled the jurisdiction or be judgment-proof. There are situations in which C could prevail over B, but nemo dat and its first-in-time implications are the baseline. The nemo dat principle rests on a vision of a chain of transactions. Current owners must be able to trace their ownership back in time through a series of legitimate transfers (ideally) to an act of legitimate original acquisition. Later we consider ways in which the law cuts off the need for this tracing to an ultimate root of title. But the tracing itself can prove to be quite complicated. See Merrill and Smith’s Casebook: Property: Principles and Policies, Chapter 8 (2nd ed. 2012) authored by Thomas W. Merrill and Henry E. Smith; published by West Academic: http://www.merrillandsmithproperty.com/. Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Conclusions The purpose of this examination is twofold: 1) to attempt to trace the ownership history of the Nicholls Note and Deed of Trust; and 2) to determine what interest in the Nicholls Mortgage Loan GMAC Mortgage LLC, Residential Funding Company, LLC, or other ResCap companies might have had held on May 14, 2012 when Residential Capital, LLC and 50 of its affiliates filed for bankruptcy. A.
As to the first question, I was able to determine conclusively that the Nicholls Mortgage Loan was allegedly securitized on March 30, 2000, into the Residential Asset Securities Corporation, Series 2000-KS2, a New York common law trust over which Bank One, National Association served as Trustee, and Residential Funding Corporation was appointed Master Servicer.
B.
I also determined that the Residential Asset Securities Corporation, Series 2000-KS2 trust was paid off and dissolved during the month of October 2006. At that time, the outstanding principal balance on Nicholls’ Mortgage Loan was $93,518.08. The Servicer as of October 2006 was reported to be GMAC RFC.
C.
Several notable events took place in October 2006 that have a bearing on this matter: 1)
On 1 October 2006 JPMorgan Chase sbm to Bank One, closed a transaction to exchange its global corporate trust business for The Bank of New York’s consumer, small business and middle-market banking businesses in the New York Tri-State area. Accordingly, The Bank of New York Trust Company, National Association became the Trustee for the Residential Asset Securities Corporation, Series 2000-KS2.
2)
On October 9, 2006, Residential Funding Corporation dissolved its status as a Minnesota corporation, and reorganized as a Minnesota limited liability corporation as Residential Funding Company, LLC.
3)
The Residential Asset Securities Corporation, Series 2000-KS2 trust was paid off and dissolved during the month of October 2006.
D.
No available evidence exists as to who may have acquired the assets of the Residential Asset Securities Corporation, Series 2000-KS2 Trust once it had been paid off and dissolved.
E.
After a concerted attempt to learn more about the circumstances of the dissolution of the Residential Asset Securities Corporation, Series 2000-KS2 in October of 2006; and finding no trace of the Nicholls Mortgage Loan in another securitization, I concluded that discovery is necessary to unearth the truth about what became of the Nicholls Mortgage Loan thereafter.
F.
One fact remains certain: at the time the Residential Asset Securities Corporation, Series 2000-KS2 Trust was dissolved in October 2006, Residential Funding Corporation —or its successor, Residential Funding Company, LLC— was the Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Master Servicer. As such, the bankrupt entity has personal knowledge as to what happened to the Nicholls Mortgage Loan. G.
Neither the Note Endorsements, Allonges to Note, Assignments of Deed of Trust, nor the recorded Notices of Trustee’s Sale —which are required to identify the beneficiary of the Deed of Trust— are of assistance in determining who the legal owner and holder of the Nicholls Note and Deed of Trust is and was at all times relevant.
H.
In fact, the paper trail reveals there has been a concerted attempt along the way to suppress the identity of the Note Owner.
I.
In my expert opinion, all that Residential Funding Company, LLC held as of May 14, 2012 when the ResCap entities filed for bankruptcy was the right to service the Nicholls Mortgage Loan.
Certification The factual and expert opinions stated above are based on my research, review of and reliance upon the documents and information supplied to date. I reserve the right to amend and supplement my opinion based on documents and data gathered through the discovery process and supplied to me in the future. Therefore, based on my education, specialized knowledge and professional expertise as a Mortgage Fraud and Forensic Analyst and a Certified Fraud Examiner, I find, with a reasonable degree of certainty, that the opinions expressed herein are true and accurate.
Respectfully Submitted,
Marie McDonnell, President & CEO Mortgage Fraud and Forensic Analyst Certified Fraud Examiner McDonnell Property Analytics 15 Cape Lane | Brewster, MA 02631 (v) 774-323-0892 | (f) 774-323-0894
[email protected]
Date: March 3, 2016
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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AFFIDAVIT EXHIBITS: A. B. C. D. E. F. G. H. I. J. K. L. M.
Deed of Trust, 11/01/1999 Adjustable Rate Note, 11/01/1999 Corporation Assignment of Mortgage, 01/20/2000 Notice of Trustee’s Sale, 03/09/2007 Assignment of Deed of Trust, 07/28/2010 Corrective Corporate Assignment of Deed of Trust, 07/13/2012 Assignment of Deed of Trust, 07/09/2013 MBS Research Results, 12/22/2015 Prospectus Supplement Excerpt Payoff Statement, 11/05/2012 Allonge #1 Allonge #2 Allonge #3
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Research TRANSACTION DETAILS Source Documents:
Adjustable Rate Note; Deed of Trust; Adjustable Rate Rider
Settlement Date:
November 1, 1999
Borrower:
Linda C. Nicholls
Lender:
Old Kent Mortgage Company d/b/a National Pacific Mortgage
Nominee:
None
DOT Trustee:
N.P. Financial Corporation
Principal Amount:
$100,000.00
Maturity Date:
December 1, 2029
Address:
12002 4th Avenue Southwest, Seattle, WA
County:
King County
Zip Code:
98146
Parcel ID:
072304-9322-04
Riders:
Adjustable Rate Rider
LOAN LEVEL DETAILS Source Documents:
Adjustable Rate Note; Deed of Trust; Adjustable Rate Rider
Loan Number:
3151390
Initial Interest Rate:
9.750%
Type of Loan:
2/28 Adjustable Rate Mortgage
Index:
The "Index" is the average of interbank offered rates for six-month U.S. dollar denominated deposits in the London market ("LIBOR"), as published in the Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is the "Current Index."
1st Rate Change:
December 1, 2001
2nd Rate Change:
June 1, 2002
Reset Intervals:
…every sixth month thereafter
Life Rate Cap:
15.750% Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Life Rate Floor:
9.750%
Adjustable Cap:
1.000%
Margin
6.250%
Neg. Am. Limit:
Not Applicable
SECURITIZATION DETAILS Source Documents:
Rule 424(b)(5) Prospectus & Prospectus Supplement
Lender:
Old Kent Mortgage Company d/b/a National Pacific Mortgage
Originator:
Residential Funding Corporation
Seller/Sponsor:
Residential Funding Corporation
Depositor:
Residential Asset Securities Corporation, an affiliate of Residential Funding Corporation
Issuing Entity:
Residential Asset Securities Corporation, Series 2000-KS2
Trustee:
Bank One, National Association
Master Servicer:
Residential Funding Corporation
Custodians:
Norwest Bank Minnesota, National Association
Insurer:
Ambac Assurance Corporation
Underwriter:
Prudential Securities; Residential Funding Securities Corporation; and Salomon Smith Barney
Cut-Off Date:
March 1, 2000
Closing Date:
March 30, 2000
Mortgage Pool:
9,144 fixed and adjustable rate first mortgage loans and junior mortgage loans with an aggregate principal balance of approximately $875,004,236 as of the cut-off date.
LOOKUP REFERENCES Source Documents:
Bloomberg RMBS Database; EDGAR Website; SEC Info Website
Trust I.D.:
Residential Asset Securities Corporation, Series 2000-KS2
Central Key Index:
932858
EDGAR Website:
http://www.sec.gov/cgi-bin/browseedgar?action=getcompany&CIK=0000932858&type=&dateb=&o wner=exclude&start=360&count=40
SEC Info Website:
http://www.secinfo.com/$/SEC/Registrant.asp?CIK=932858
Trust Agreement:
See Pooling and Servicing Agreement Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Prospectus: 424B5
EDGAR: http://www.sec.gov/Archives/edgar/data/932858/00009501170000 0710/0000950117-00-000710.txt
PSA:
EDGAR: http://www.sec.gov/Archives/edgar/data/932858/00009328580000 0014/0000932858-00-000014.txt SEC Info: http://www.secinfo.com/dSevw.51.htm#1stPage
Form 8-K:
http://www.secinfo.com/$/SEC/Documents.asp?CIK=932858&Par ty=BFO&Type=8-K&Label=Current+Reports+--+Form+8K&Page=All
MLPA:
Not Available
Loan Schedule:
The Mortgage Loan Schedule is contained in the Pooling and Servicing Agreement and may be found by searching for “Nicholls” at: http://www.secinfo.com/dSevw.51.htm#1stPage
Governing Law:
New York Law: See Section 11.04 of the PSA
MERS WEBSITE Source Documents:
Mortgage; MERS Website at: https://www.mers-servicerid.org/sis/
MOM:
N/A
MIN Number:
N/A
Lender I.D.:
N/A
Servicer I.D.:
N/A
Investor I.D.:
N/A
Status:
N/A
NOTE ALLONGES FORM
ASSIGNOR
ASSIGNEE
SIGNING OFFICER
POSITION
Note, p. 5
Old Kent Mortgage Company
Residential Funding Corporation
Gordon J. Miller
Vice President
Note, p. 5
Residential Funding Corporation
Bank One, National Association
Judy Faber
Vice President
Allonge
Bank One, National Association as
Blank Endorsement
Amy Nelson
Vice President Residential
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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Trustee, by RFC as Attorney-in-Fact
Funding Corporation
Allonge
The Bank of New York Mellon Trust Company, National Association fka The Bank of New York Trust Company, N.A. as successor to JPMorgan Chase Bank N.A. sbm Bank One National Association as Trustee by Residential Funding Company, LLC fka Residential Funding Corporation, Attorney-in-Fact
Residential Funding Company, LLC
Allonge
Residential Funding Company, LLC
Blank Endorsement
Mary A. Miller
Mary A. Miller
Authorized Officer
Authorized Officer
ASSIGNMENT DOCUMENTS RECORDED KING COUNTY RECORDER OF DEEDS, WASHINGTON EXECUTION DATE
RECORDING DATE
DOCUMENT
01/20/2000
08/03/2000
20000803000299
Corporation Assignment of Mortgage
07/28/2010
08/12/2010
20100812000720
Assignment Deed of Trust
07/13/2012
07/27/2012
20120727001563
Corrective Corporate Assignment of Deed of Trust
07/09/2013
07/23/2013
20130723001972
Assignment Deed of Trust
INSTRUMENT
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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RECORDED DOCUMENTS RELATING TO NICHOLLS’ DEED OF TRUST KING COUNTY RECORDER OF DEEDS, WASHINGTON EXECUTION DATE
RECORDING DATE
DOCUMENT
INSTRUMENT
11/01/1999
11/15/1999
19991115001505
Deed of Trust
01/20/2000
08/03/2000
20000803000299
Corporation Assignment of Mortgage
10/24/2000
10/30/2000
20001030000943
Appointment Of Successor Trust
04/26/2004
05/11/2004
20040511002214
Appointment Of Successor Trust
05/25/2004
05/27/2004
20040527001926
Notice Of Trustee Sale
09/02/2004
09/07/2004
20040907002326
Discontinuance Of Trustee Sale
12/28/2004
01/10/2005
20050110001517
Appointment Of Successor Trust
02/01/2005
02//03/2005
20050203001608
Notice Of Trustee Sale
02/17/2004
02/23/2007
20070223001307
Appointment Of Successor Trust
03/09/2007
03/13/2007
20070313001435
Notice Of Trustee Sale
01/09/2009
01/12/2009
20090112001130
Notice Of Trustee Sale
02/16/2010
02/17/2010
20100217000758
Appointment Of Successor Trust
03/22/2010
03/23/2010
20100323000378
Notice Of Trustee Sale
06/16/2010
06/17/2010
20100617000457
Discontinuance Of Trustee Sale
06/16/2010
06/17/2010
20100617000458
Discontinuance Of Trustee Sale
06/22/2010
06/24/2010
20100624000425
Discontinuance Of Trustee Sale
07/28/2010
08/12/2010
20100812000720
Assignment of Deed of Trust
12/20/2010
12/22/2010
20101222001196
Notice Of Trustee Sale
05/26/2011
06/07/2011
20110607001051
Discontinuance Of Trustee Sale
06/07/2011
06/07/2011
20110607001165
Discontinuance Of Trustee Sale
07/13/2012
07/27/2012
20120727001563
Corrective Corporate Assignment of Deed of Trust
01/31/2013
01/31/2013
20130131002836
Resignation of Trustee
07/09/2013
07/23/2013
20130723001972
Assignment Deed Of Trust
06/05/2013
07/23/2013
20130723001973
Appointment Of Successor Trust
Preliminary Research Memorandum – Linda C. Nicholls © 2016 McDonnell Property Analytics, All Rights Reserved
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