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UPDATE: Friends, I just received this note from our friend and mortgage fraud expert Vermont Trotter regarding this story:

The trusts are all empty. The master loan doc contractually allows for the hypothecation and re-hypothecation of the assets. Hypothecation is a legal term meaning to pledge, but not deliver an asset. To hypothecate means there is no true sale of the asset. To re-hypothecate means it can be pledged multiple times and, again, never have a true sale. No one owns anything.” – V. Trotter

from Foreclosuredefensenationwide:

August 21, 2012

Confirming, under oath and in print what we already suspected: there is no schedule of mortgage loans evidencing what JPM allegedly “purchased” from the FDIC in connection with the failure of WaMu. This is from the sworn deposition testimony of Lawrence Nardi, the operations unit manager and a mortgage officer for JPM, who was previously with WaMu and was picked up by JPM after WaMu’s failure. The 330 page deposition was taken by counsel for the homeowner on May 9, 2012 in the matter of JPMorgan Chase Bank, N.A. as successor in interest to Washington Mutual Bank v. Waisome, Florida 5th Judicial Circuit Case No. 2009-CA-005717.

Here is the question and the answer:

Q: (page 57, beginning at line 19): Okay. The — are you aware of any type of schedule of loans that would have been created to represent the — either the loans that were asset loans or the loans that were serviced by WAMU? Are you — was the — do you know if there is a schedule or database of loans like that?

A: (page 58, beginning at line 1): I know that there was a schedule contemplated in certain documents related to the purchase. That schedule has never materialized in any form. We’ve looked for it in countless other cases. We’ve never been able to produce it in any previous cases. It would certainly be a wonderful thing to have, but it’s — as far as I know, it doesn’t exist, although it was — it was contemplated in the documents.

As we all know, JPM has also stated, in a Federal Court filing, that it is NOT the “successor in interest to WaMu.” However, the deposition testimony gets even better as the day went on:

Read More @ Foreclosuredefensenationwide

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  • Mouse

    I don’t understand this word salad.

  • JT

    I agree. This is very big, but I don’t understand the implication and how it relates to me and my neighbors. Someone is still collecting mortgage and intererst payments. Is it JPMorgan? If they are collecting mortgage and interest payments, does this mean fraud and they have to hand it all back to the borrowers? Those folks probably don’t owe anyone for their house now, but can they even prove they own it at this point? Lots of questions. We need someone like Max Keiser to break it all down or how about that occupy corporatism patriot? SGT, can you arrange for something like that?

    • SGT

      Guys, it’s BIG and very complicated, in the end though it boils down to outright theft and blatant fraud. No one knows who owns what when it comes to potentially millions of mortgage notes/titles. At best, most of us hold titles that are “clouded”, at worst, it’s much worse than that. Here’s my May, 2012 interview with Vermont Trotter explaining some of the big picture of the MERS fraud:

      MERS FRAUD & WALL SREET BANKSTERS: You Probably Don’t Even Own the House You Are Paying For

      • Mother Patriot

        Why do we pay for Title Insurance? Is this fraud also being exposed?
        God Bless America,

        • Vermont Trotter

          You have to understand. The title insurance companies are in on the game. Title insurance is for the security of the bank, not you. If you get a copy of your insurance POLICY … not the “Commitment to Title Insurance” you will most likely see that the beneficiary of the title policy is MERS. I know that is what I found on mine. I had another friend tell me they wouldn’t tell him who the beneficiary is on his title insurance POLICY. He pays for it, but they wouldn’t tell him … heck, they wouldn’t even give him a copy of his POLICY.

          • Louis J. Jean-Louis

            September 13, 2014 at 1:27 pm · Reply
            To Whom It May Concern:

            I would like to contact Vermont Trotter, the Mortgage Fraud Expert, regarding his statement about the Wamu’s trusts being empty after the Lawrence Nardi’s sworn deposition. May I have a contact address, either telephone or e-mail, for him? Thanks in advance.

        • :Karima

          There are two types of Title Insurance…one for the bank and more importantly…FEE TITLE INSURANCE which everyone should purchase to protect THEIR OWN INTERESTS AND NOT JUST THE BANKSTERS.

  • JT

    Ok, thanks. I’ll go listen to that now. Buckle up everyone. Don’t fall into the trap where the TPTB want you to riot. They are prepared for that. Try non-compliance. That will totally befuddle and irritate them. Explain this the hotheads you encounter in the days ahead. Good luck everyone…

  • Rico

    JT – The Definition of Mortgage is Death Agreement. The Financial Institution from whom you secured your mortgage did NOT lend you any money. No MONEY changed hands. Entries were made on a computer and the FI created an Obligation for you to pay them every month, from which they create more phony money out of thin air based upon your promise to pay. It is sickening.

  • (The Other) Joe

    So, myself and a friend have been going through this for a while now and we’ve turned up quite a few answers to the point that, we have BoA in a pretty tough situation. How tough? To the point they offer A very nice settlement to stop pursuing. What we found was the following:

    No loans are or ever were in default if they were in MERS. Not for the reason you’d suspect, MERS being a sham and all, but because payments have NOT been stopped on the interest to the trusts. NOT ONE PENNY. This is what people don’t understand about TARP and where the money went… that money is NOT just sitting on balance sheets, it’s been used to keep making payments to the trusts. (thank you Bloomberg Terminal).

    Anyone foreclosed on is foreclosed f

    The hole goes sooooo deep. We have an abundance of documents and statements to back it, the issue is legal procedure, not right or wrong…

    • JOhn Nardol

      I would like to get any information on this matter. I am suing BOA myself .

      If there are any documents you can steer me to I really appreciate it.

    • gary

      can you send me some info i can readup on or the case or ?

    • The other joe

      I’m down the rabbit hole and everywhere I look I get more confused.

      Interest to the trust can not be happening because the tax-exempt trusts are not even authorized to conduct business transactions in any state.
      david, not the david of David and Goliath!

      Need more information on TARP as to the possibility that MOST loans have been paid off…and need to know how to access that info.

    • Mindymac

      I am in foreclosure with BOA (2nd time, 1st dismissed…) and am countersuing with 6 or 7 counts, and will probably revise and update since it’s been a year. I could really really really use whatever information on this bidness of paying the trusts while foreclosing, and info on finding if my loan is written off or paid off in the mass unloading of Countrywide loans, and even how to find which of the multitude of CWABS 2006 trusts my loan was supposed to be in. I ran a search on loan number through EDGAR and nothing came up.

      And if BOA gave it a phoney trust name/number instead of the read ID that shows Freddie Mac as the investor, does the 3-day ARC- prefix indicate the whole thing is/was/should be archived? But if Freddie has it, and they say they are The Investor in it and they don’t recognize the ID BOA gave it (all in their Change of Servicing (themselves to themselves different letters after) notification with FDCPA details (but refused to actually give me the info they said we could write and ask for and they’d send it).

      You can email me at creativity.queen @ with any and all related info and I will be thrilled because I have to do this pro se. Thanks.

    • Marcus

      Hello Other Joe,
      Can you sent me information on Mers, Bank of America, Countrywide,
      I have a property with Homebanc and a second property with Countrywide
      as the originators.
      The one property is under CMLTI 2006-AR7 TRUST FUND MORTGAGE PASS-THROUGH
      The other under Structure Asset Mortgage Investment II, Inc. Bear Stearns
      ARM Trust, Mortgage Pass-Through Certificates, Series 2005-6

      Best regards,

  • GoodOleBoy

    So much legal jargon. Correct me if I am wrong, does this mean that JPM has been going around collecting mortgage payments including interest on assets that are owned proper by the US government? I get that there is no record of transfer and no clear chain of title. Well looks like the FDIC was just acting as a branch of JP Morgan, just like the rest of the federal government. All I know is what Bill Murphy said yesterday, there is a scandal a’comin.

    • johns

      JPMorgan is the government. I mailed a tax return payment made out to the US Treasury, signed receipt requested(on advice of my accountant), and the receipt was signed received by JPMorgan Chase N.A. Charlotte, North Carolina.

      What does that tell you. I kept the receipt as a token of the honesty going on around the world.

      • That’s “old news” in many ways …

        The correct account name is found in the Federal statute
        creating that account, to wit: Treasury of the United States, 31 U.S.C. 302:

        The United States Government has a Treasury of the United States.
        The Treasury is in the Department of the Treasury. <— the one in D.C., NOT Puerto Rico!!

        One must be very careful to spell the account name exactly as shown
        in that statute: "U.S. Treasury", "United States Treasury" and
        and other variation which is NOT spelled exactly as shown above
        all give the banks the alibi to launder the money into offshore accounts.

        In years past, such checks were endorsed by a Federal Reserve Bank
        until several Americans blew the whistle about that fraud.

        Nevertheless, the finding of the Grace Commission is still very relevant,
        because it exposed the money laundering which the FED banks
        are doing with income tax payments:

        The final report of the Grace Commission, convened under President Ronald Reagan, quietly admitted that none of the funds they collect from federal income taxes goes to pay for any federal government services. The Grace Commission found that those funds were being used to pay for interest on the federal debt, and income transfer payments to beneficiaries of entitlement programs like federal pension plans.

        And, my office has attempted several times to get Federal Courts
        to approve a PRELIMINARY INJUNCTION barring the deposit
        of any tax payments into any accounts OTHER THAN
        the "Treasury of the United States" as required by IRC 7809:

        Google +"PRELIMINARY INJUNCTION" 7809

        … and find:

        See IRC 7809:

        (a) General rule
        Except as provided in subsections (b) and (c) and in sections 6306, 7651, 7652, 7654, and 7810, the gross amount of all taxes and revenues received under the provisions of this title, and collections of whatever nature received or collected by authority of any internal revenue law, shall be paid daily into the Treasury of the United States under instructions of the Secretary as internal revenue collections, by the officer or employee receiving or collecting the same, without any abatement or deduction on account of salary, compensation, fees, costs, charges, expenses, or claims of any description. A certificate of such payment, stating the name of the depositor and the specific account on which the deposit was made, signed by the Treasurer of the United States, designated depositary, or proper officer of a deposit bank, shall be transmitted to the Secretary.

        Sincerely yours,
        /s/ Paul Andrew Mitchell, B.A., M.S.
        Private Attorney General, 18 U.S.C. 1964(a)

  • Rico

    Other Joe – What did you do to BofA? My Death Agreement is with them. They “Purchased” my Death Agreement from Countrywide. Let me know when you have a moment. Thanks!

    • (The Other) Joe

      Rico- between March and June of last year, anyone with a Countrywide loan should have recieved a notice that their loan was being transferred fromBAC Home Loans to Bank of America Home, NA. This notice should have disclosed the true “investor” in the loan. This was just the person holding the potato when the music stopped. In the same manner, as stated above with WAMU and JP Morgan, people assume Countrywide was bought by BoA… we found out it they still operate and there was no transfer of assets partly bc Countrywide was only servicing the loans and Owned nothing. How then would BAC become the owners of those notes? Countrywide didn’t own them therefore Bank of America couldn’t acquire them.

      Most people didn’t realize this and we’re thinking they didn’t make payments therefore, they are in default. Not true. The payments never stopped. In order to get away with it all, the borrowers would have to sign and agree that they were behind and owed money to the “lender”… Enter HAMP. Anyone that signed HAMP will lose their home in the months to come bc they waived their rights by submitting to the banks and acquiescing.

      We used Bloomberg Terminal (through a connection) to find the loans and learned that try had been paid Bank of America had nothing to do with them aside from bumping money up the chain. The investors though… that’s where the real nuts and bolts are. They tell you it’s pensions funds and 401K money… Lies. The true owners are major banks and 401k money is invested in those banks through “emerging market funds” etc. ALL of this is designed to keep the dollar afloat because of the amount of money involved used to secure these derivatives. These are the support for those things, THIS is part of the crack people like Lindsay Williams is talking about.

      When they foreclose, the home stays empty and payments are made to the trust from the proceeds of the default via insurance etc from escrow. Actually had someone tell me that. That’s why foreclosures come in waves and the banks put them through that way, funds become available to be claimed.

      It’s a deep rabbit hole. Most people want to attack the note. It’s a valid point but, the trust is what you want to attack to have them leave you alone. The trust, is what they don’t want borrowers aware of. The fact the BoA only acquired the rights to service a piece of crap from Countrywide is what they don’t want you to know. In my case, a second note was created by CW on my loan and guess what… it was securitized too!

      Drop your email and I’ll give you tons of info and explain it all to you.

      • joe

        Other Joe-can you post your info on this site? Not inclined to post my email but would like to look into this more as it affects people I know.

      • Paul Repas

        (other) Joe — i live in a judicial state and i strategically defaulted about 3 years ago and hired the best foreclosure atty in my state for a relative song (less than $500 a month) and felt i had a vague enough handle on the messed up system to fight it. My loan was securitized, title passed through the MERS system, and ever year JPM as the servicer pays my state property taxes. I have yet to be bothered to be called to court and not sure if that day will ever arrive.

      • Vermont Trotter

        Other Joe,

        How long have you been down this rabbit hole? I couldn’t agree w/ your assessment more. From what I have learned, my only comment is, you have it nailed.

        I’d be interested in comparing notes.

        • (The Other) Joe


          About 3 years total into this, first hand experience and A LOT of second hand experience. I honestly didn’t know where to start, but I sent an email to the addresses above (and SGT) with some of the information, I think you know most of that though. The approach we took was finding out who benefits from the money from the payments and connecting them back to ourselves. Also, we’ve noticed that if it’s mentioned in the media, ignore it and keep digging. They mention MERS, robo-signing, bailouts, HAMP, etc… the media is a mouthpiece for the sham, maketing. Anytime they say something, you should look the other way because something else is happening that really matters. We can never get to the bottom of the mess, we have to get to the bottom of our individual situations which are Promissory Note, mortgage / deed of trust, Assignments, payments, servicer, trust, PSA, funding, investors, bailout money.

          If you shoot me your email I’d love to be able to pick your brian and give you some material as well.

          • Monte Swanzy

            Joe, please if you would send any information on the BoA Countrywide scam. Especially regarding attacking the trust fund. Thank you for your research and help in this matter!

          • Henry

            Hi Joe,

            Would really appreciate the information you have gathered about the trust fund. I have a unique situation that is way down the rabbit hole and I believe your info might help. Thank you!

          • Linda

            I know this email thread is a little old but I hope I can still get some info regarding the whole giant fraudclosure debacle. I have 2 HELOCs (one with BofA and one with Chase that originated with WAMU). Can you tell me if the same scenarios apply with the HELOCs as with the first mortgages and if you know of anyone who has been successful in fighting the fraud involving them.
            Thank you so much! I really appreciate it.

            • MRH

              Hi Linda, there are tons of people that have fought and won. I can not make any suggestions as I am not a financial advisor and that could potentially get SGTReport and myself in a lot of trouble. What I can do is suggest googling searching your EXACT situation and include the appropriate solution you are seeking. I can assure you, you should get a mass of information regarding how to fight and an expected result. Don’t forget about the “Linda Green” situation with the “robo-signing” of approvals along with MERS–MERS is an acronym for the fraudulent mortgage system that Countrywide set up and is STILL in operation. I hope this helps and good luck.

      • t

        “Drop your email and I’ll give you tons of info and explain it all to you”.
        Pls. send my way…

      • John

        I just sued BOA the trust and everyone associated with the scam. I agree with what you pointed out. I would like to get some help finding out how to fight the scammers. I filed pro per and will soon need an attorney. I don’t want a foreclosure attorney they really don’t understand the benfits of suing the banks first. Any suggestions?

      • Lizi

        Yes, the Other Joe, you touched the cord with your view of TARP money use. Any evidence of it?
        Also, how would you fight dual-tracking in the court?
        Whatever we do and however we fight, it is a hard war, where banks are cheaters to the right and to the left. They surrounded themselves with such a secrecy that they can’t even send a simple email or letter without it being heavily encoded.

      • Fannie Francis

        Other Joe…send me your info.
        Boa wants to deal. NOt in the mood too!

      • boarddork

        (The Other )Joe said:
        “When they foreclose, the home stays empty and payments are made to the trust from the proceeds of the default via insurance etc from escrow. Actually had someone tell me that. That’s why foreclosures come in waves and the banks put them through that way, funds become available to be claimed.”

        I am hooked, this is fascinating. Could you elaborate more on why foreclosures come in waves?

        Is this because the trusts are bundling them up in phases? I have noticed in Seattle that trustee sales seem to show a bunch of JPM/Chase homes one month, and say Aurora bank has theres weeks later, and then BofA seems to go……….it never made sense to me if a bank really held a loan and was foreclosing on it as a case by case basis.


      • Court Throckmorton

        Interested in the information you have regarding trusts being maintained by banks in absence of borrowers mtg payments.
        Currently have a chase loan acquired through fdic from wamu. Chain of title is missing a few very important documents. As usual, Chase claims to be investor because of PandA but lacks proof.
        Appreciate your time.

      • Mark

        Please send info concerning BOA and countrywide…..have a unique situation here…..need help than you, Mark

      • Marg

        Other Joe, please send me info that you have for my cases against Chase/WAMU, BofA/Countrywide and Citimortgage if you hvae it. I am planning my federal lawsuits against these banksters and any ammo you have would be appreciated. I also have MERS on all. Send to

        Thank you!


      • CHRISTIE

        This is something I truly need to know more about. I had this HUNTCH all along but no one cared to listen to me about it. What evidence is there that you hold that you would not mind sharing with me? I had lost my home over this crap 1.5 years ago and I am still fighting to get it back! I am currently working with the CFPB on this very issue that you speak about. Please respond back to me soon! THANKS! :-)

    • kogdis

      (The Other) Joe

      I am in the same boat as Rico with the BOA/Countrywide scam. I have not heard of going after them via the trust angle. Please, could you send me what you have. Hopefully I might be able to help some others local to me as well.


  • Troy

    Hey JP Morgan…if you let silver’s price go to true worth…which is probably in the hundreds…and we will forgive you!

    • GoodOleBoy

      Like hell we will. Give back the trillions stole from the American people and maybe will allow you to spend the rest of your life in a FEMA camp.

  • anthony

    To get back at these c0cksuckers, do this…

    Get a Chase credit card. MAX all of them on gold and silver, and then, dont pay them back. IF they send a letter saying why you havent pay, simply say, “No credit card in my possession exists.”

    That will show them.

  • Arnold Zeiffel

    Maybe the loan documents were held in the collapse of Building 7 are part of the 911 conspiracy. Thus no loan documents. Sorry but this SGT report is lame. Having worked through FDIC receiverships and conveyance of assets. The substance of the transaction is the mortgages were part of the FDIC assisted purchase and they are owned by Chase.

    • SGT

      Are you attempting to use satire with WTC-7 reference Arnold? LIBOR, HSBC drug money laundering, Jon Corzine is a free man just by saying “I have no idea what happened to the missing $1 Billion”, MERS fraud that leaves Matt Taibii speechless, and JP Morgan is under investigation by a multitude of State and Federal agencies for major crimes … Chase “owns” what exactly?

  • Petedivine

    How many of these trusts are Chinese? I recall the Chinese bought a lot of the mortgage backed securities. What would happen if we woke up to find an army of Chinese investors owned our homes and are trying to unwind the derivatives to get at the real assets. What kind of rights do these trusts have? Scary…

    • Petedivine

      I hope they evict the residents of 1600 Pennsylvania Avenue. Those people have been squatting on the backs of Americans too long.

    • Vermont Trotter

      Excellent question.

      And do we indeed wake up w/ the Chinese demanding the hard asset?

      This land is your land
      This land is my land
      But I just sold it
      To a guy from Thailand
      Or was it Korea?
      It was Indonesia
      This land was sold for you by me.

  • strega

    @(The Other) Joe:

    Both vindicating and infuriating to read your post…..I had a mortgage with BofA that originated with Countrywide….did the research, learned all about MERS, demanded note, went to court, Judge wouldn’t listen to my attorney, didn’t allow our request for production of docs……fought them for years; fought foreclosure; this state only requires 30 days till eviction/sale….Finally rescued by family member but….only for two years during which I must sell home. Meanwhile; B of A, the shyster law firm that processes foreclosures and charged 5K for one certified letter and the law firm that finalized the new mortgage cost me more than $21K that was added to the new mortgage.

    No one would listen to me when I told them this was theft, fraud, a financial industry scam….just told me to shut and sign. I’ve saved every document, every scrap of paper and if I can sue those sons of bitches I intend to. Good for you for having the determination to follow up on this. So irritating to know that all that you’ve written here I knew and maintained and no one either agreed or understood; including the real estate/title attorney who prepared this last ‘rescue’ mortgage.

    • (The Other) Joe

      I feel sorry for you. I just sent the others an email and it I stated as much. Attorneys are wothless in this matter unless you can do the research and tell them what, when, and how to file it on your behalf. Lawyers are members of the Bar as are the judges, they are trying to keep their organization intact as well. If it were me, I’d research my state laws and sue the judge that refused due process. From my understanding, this is the tactic that has started to change the tide for homeowners… a few savvy pro se litigants that have had the balls to go after the judges and get their cases heard. As you said, once heard, the law is on your side from FDCPA,TILA, UCC etc. as relates to the promossory note and deed of trust. Washington state just had a MAJOR ruling from its Supreme Court stating that if MERS had anything to do with loan, there can be no foreclosure in so many words.

      In your case, for you at this time, maybe walking away in disgust works or maybe fighting back does. Its tough to say because it’s your situation. You’ve been right all along. For me, whats been working is the language used and replying and questioning every thing stated becasue in law, it’s only alleged unless it can be proven and if questioned propely, it must be. Who is the “investor” and how did the “investor” receive the laon? Where was the transaction? Etc. The attorneys are a part of the system and the thing to prove is A. the loan is not in default because the servicer has continued making payments to the trust B. the servicer is not the lender and the lender was made whole at elast TWICE when they sold their rights to the loan C. the party foreclosing hasn’t proven they are an agent authorized to represent the true party in interest to the indebtedness. I’d NEVER say I defaulted because teh party in iterest has NEVER claimed it. Only a party claiming to be an agent of the trustee of the holder of the debt.

      In regards to Bank of America, if you see anything like Bank of America NA, successor by merger to BAC Home Loans Servicing, LP… you’re dealing with a fictional entity. Countrywide sold it’s interest in the debt and at most, was a servicer of the loan on behalf of the real party in interest. As such, BAC Home Loans Servicing, LP could not have been the holder of the debt and is merely a debt collector when payments are not made. They only make payments to the trust (like a pyramid scheme). Where do they get the money to make the payments? TARP This was the true reason for TARP, to keep the scheme going. They have to because the amount of derivatives created on the backs of the loans is enough to bring the entire system down.

      • gioiosa

        (The Other) Joe, aww I finally found somebody (you) who knows how to approach these criminals! I have Countrywide/Bac/BoA Recontrust, fighting them for 3 yrs…I can’t find in which trust my loan ended up in. Can you please get back to me? I would highly highly appreciate it, you sound exactly like what I have been looking for for the last 2 yrs! thanks thanks!

  • Ed_B

    SGT said, “Guys, it’s BIG and very complicated, in the end though it boils down to outright theft and blatant fraud. No one knows who owns what when it comes to potentially millions of mortgage notes/titles.”

    So we should all quit paying our mortgages, live for free for a couple of years, let them take us to court, and then say, “OK, if you are demanding payment because you own my mortgage, PROVE IT!”. 😀

    • Vermont Trotter

      A mortgage strike? Interesting. If it were to hit all at once, the whole system would collapse. It’s all about the cash flow and if we, as a collective, were to damn the cash flow to a trickle ….?


      Something large this way comes.

  • Julie

    Is there any of this that might apply to Wells Fargo? I got my loan from People’s First (a local bank) when we first bought, they transferred it to Citibank for a few months, and then we’ve been with Wells Fargo for the last 10+ years.

    Wells Fargo just offered my sister a no-cost refi, I told her that I’m sure ONE of the reasons that they are trying to get refi’s done was to get a new set of closing papers that is up-to-date and signed. She would never just stop paying her mortgage anyway, but she’s going to do the refi and she will now be “more” locked in (I think) than before, if the reason they are doing this is because they LACK documents.

    Unfortunately I don’t have any idea how to go about proving or disproving that “I owe Wells Fargo” as paying on my house. I never signed anything with THEM, all of our original documents were with People’s First. I’ve got so much equity in my house right now I would not want to start butting heads and possibly initiate a “spite foreclosure”.

    • SGT

      Wells Fargo, BOA, JPM, CITI… they’ve all been using MERS, depending on when you purchased OR refinanced, you may have a MERS mortgage which in turn most likely means a clouded tittle. This from the mouth of Vermont Trotter, not me.

      • Vermont Trotter

        SGT …

        You are correct. The issue is MERS. They are a puppet, a shadow, the lie which is used to hide all of the other shenanigans they play. Might I refer you to the list of derivative contracts linked through this piece:

        In this movement, we refer to Wells Fargo as the Four Horsemen of the Apocalypse. Wells is one of the main players.

        Julie, you have to do what is right for you. Only you can know what that is. From what you describe, you are infected. The danger is that your loan has been re-hypothecated. This puts you in a position of having to live out your life after “payoff” waiting for the knock on the door from someone who claims you still owe them money. You may be able to defeat them, but no matter what, you will have to hire an attorney.

        And that is one of the many jokes in this whole mess. Do you hire an attorney now? Or do you hire one later? Because eventually, I believe, you will have to. For now, just know that every mortgage payment you make goes down a rat hole to feed the machine.

        • (The Other) Joe

          Its not very difficult to correct, it requires a change in the current paradigm though. 1. The house is already the homeowners, but it is collateral for the repayment of a loan which is secured by a mortgage. 2. Prior to the mortgage, there is a warranty / special warranty deed from the previous owner, to the current owner. 3. If the mortgage and note are seperated (MERS beneficiary / nominee) the security instrument is not attached to anything (note) and should become void because it is a SECURITY INSTRUMENT attached to the note, not the property.The debt would still exsist, but would not be secured by anything… like a credit card debt. So, I think in the future, reverting to the prior owner in the land records.

          All the payments go down the rabit hole… oh so true. Find out who is lawfully authorized to collect and recieve is what I’d do, if it were me.

  • FiveThousand

    Use your monthly mortgage money to buy phys. Max would approve.

  • rob

    So what about the WAMU credit cards that Chase purchased?

  • Wafic

    With the aiding and abetting of the FDIC, JPM bought a 307B bank for 1.9B. Wamu shareholders were wiped out. There was a very long bankruptcy case, with a settlement which let them off the hook and now the shareholders have scraps in a runoff insurance company going by WMI. The courts turned a blind eye to so much damning evidence. A cover up of epic proportions. This loss ultimately led me to discovering how the government was connected to JPM. My disdain for that combination led me ultimately to discovering investing in silver and for that a lesson well learned because it is a lifetime one.

  • Wafic

    So all customers of Wamu, including myself, we had no change in any account information. Routing, checking, savings….nothing. Chase simply took over Wamu’s solvent operations. So this loan issue ties in perfectly. There was no IT integration into Chase’s system.

  • EVB

    A friend of mine hadn’t made a payment in over 3 years, and continued to collect rent. He was paying a lawyer just under 600 a month the last 2 years. Now, he just got a 200k+ inheritance 2 months ago. All of a sudden the bank took his property out of foreclosure, he doesn’t owe them a dime, and he told me his lawyer was able to “get them for fraud”. And here I am paying a mortgage for a property in another State and living in a basement for now wondering WTF am I gonna do.

    • (The Other) Joe

      The banks are acting mostly as debt collectors. Everything you receive from them is a third party correspondence. The Fair Debt Collection Practice Act can be a strong tool for this very reason (fraud) representing yourself to be someone you are not to collect a debt (mortgage) not owed to you. BANKS ARE USING PROPERTY ONLY FOR INSURANCE CLAIMS TO CONTINUE FUNDING THE INVESTMENTS. Once the reach a certain amount of time dealing with you and it becomes unprofitable to pursue, to leave you alone.

  • JT

    So this article has rolled off the front page, MSM wont touch it, it’s not making Drudge or Zero Hedge or Max Keiser, does the whole issue just vanish like all of the other smoking guns? How does this get widespread traction? How does the idea propogate to a wider audience? This is a nice vehicle for a non-violent revolt.

    • Taylor

      @JT, Start spreading the word via social networking. I think that’s how the Brandon Raub (Facebook poster, and Marine forcibly committed for airing political dissent) issue made its (brief) way to CNN two days ago. Then again, perhaps it will go ignored.

  • inshurancegeek

    Nice thing to know, thanks for sharing, mortgage note for sale becoming a home busniess, every body stepping in it…

  • James

    Hi Vermont

    is there a way of getting hold of you aside from this bolg?


  • Steve

    Who has notified the IRS? If Chase cannot “PROVE” they bought the debt then they cannot write it off on their taxes. To do so is “TAX FRAUD”. Doubt me? claim a kid that is not yours or who does not exist as a deduction and see what happens to you. What would make Chase or any other bank immune from the same CRIMINAL prosecution?

    • Steve

      I forgot to mention the issue of bifurcation. Bifurcation is the separation of the deed of trust/mortgage from the note. See: Carpenter v. Longan, 83 U.S. 16 Wall. 271 271 (1872). “The note and mortgage are inseparable; the former as essential, the latter as an incident. An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.”

      It is a nullity because the security instrument (deed of trust/mortgage) is a security regarding a specific note. Once bifurcated or separated there is no way to prove chain of custody of that specific note. In other words there’s a break in the chain of title. In other words they write off the alleged debt without being able to prove ownership.

      MERS is notorious for bifurcation. Don’t take this as legal advice, I’m not an attorney, but if you have been foreclosed on and still have a copy of your original deed of trust/mortgage see if there is a mortgage identification number on it. That will be on the front page and it will say MIN followed by an eighteen digit number. Go to the MERS website and enter that number there and see if they have record of it. IF you received a 1099A in regard to the deficiency on the note then chances are the foreclosing party. I wonder if the Internal “Revenue” Service would be interested in the “revenue” that could be generated by something of this magnitude or if they would aid in the coverup. I see they’re paying out some pretty big rewards to whistle blowers recently.

      In re Carpenter (supra); Though this is an opinion and may not be controlling upon the court it is always good to know what the Honorable Judge John McBryde from the United States District Court, Northern District of Texas, Fort Worth Division had to say on the 22nd day of December, AD 2011 in re McCarthy v. Bank of America, NA et al. He wrote:

      “Id. The note made no reference to MERS. MERS purported to assign the note and deed of trust to BOA. However, MERS did not own the note, thus it could not assign the note, and its assignment of the deed of trust to BOA separate from the note was of no force or effect. When the note was purportedly assigned to BOA, plaintiff was in default on payment of the note.

      More specifically on the subject of separation of the note from the deed of trust, and the lack of ownership of the note by BOA when BOA and BAC conducted the foreclosure about which plaintiff complains, plaintiff alleged:

      30. MERS is not the payee of the promissory note and MERS never held the promissory note. The Deed of Trust does not provide that MERS could transfer the promissory note; therefore the language in the assignment of the deed of trust purporting to transfer the promissory note is ineffective. Simply being a beneficiary or having an assignment of the deed of trust is not enough to be entitled to foreclose on a deed of trust. For there to be a valid assignment for the purposes of foreclosure both the note and the deed of trust must be assigned.

      31. An assignment of the deed of trust separate from the note has no “force.” MERS never held the promissory note, thus its assignment of the deed of trust to BOA separate from the note had no force. MERS had no separate agency contract with Countrywide regarding this loan.”

      Food for thought.

      • Steve

        Edit to paragraph 3 above:

        If you received a 1099A in regard to the deficiency on the note then chances are the foreclosing party may very well have committed tax fraud. blah, blah, blah

        Sorry, forgot to finish that sentence.

  • julie d

    other joe –

    single mom in illinois, chase filed for foreclosure on my home. would like information on how to proceed. many thx

  • RJ

    It vanished into the black hole called the Bush Administration. It was how he was able to finance the bloodletting in Iraq – death, bankruptcy, and fraud. Thats what it was all about.

  • Flanders

    What about a HELOC I had through Wamu, I did not borrow a dime from JP Morgan and their shareholders, why should they profit? Why should the stock holders of Wamu get screwed, I have no problem paying my dept to people/corp. that I owe,and I am still paying on my Heloc. Does JP Morgan really get to ‘buy’ my loan for pennies on the dollar?

  • Lisa

    I am a WAMU mortage now JP Morgan chase. I have been trying to get my note for 3 years. Recently I got a letter from my title company stating they never filed my mortgage document with the clerk of court (true I checked). The last document filed with the clerks office was the satisfaction of mtg. JP Morgan Chase;s tile company wanted me to sign new mtg doc which we would not.

    I contacted Chase and demanded to know the name, address, and phone number of the bank or investor that owns my mortgage. I demand to see the original mortgage note proving ownership over my home loan. I would like to see copies of all endorsements and assignments of my mortgage note and where and when the assingment(s) _if any – were recorded. I also ask that you provide me with evidence of your firm being contractually retained to service my loan.
    The JP Morgan rep freaked.
    I got out of him the Fannie Mae was the investor I do not know if that is true. Everything else I asked for JP Morgan rep said they do not have and can not produce I was told to call back. I called Fannie Mae today and they said that Chase has my note and all the docs I am requesting.

    I have no Mortgage Assnmt from WAMU to Chase. I am supposed to call back Chase and for what???????????????? Can I even sell this house?

  • Warren Voss

    I have an Interest Only, Variabl rate WA-Mu loan. I contacted Chase and they gave me a mod but they changed it to a GPM Graduated Payment Mortgage. Payment will increase with increased Interst every year. I am getting to retire and cnanot afford an increase. Oh, and they added more than $10,000 to my loan balance for the Mod. I was not late on payments. Oh, and there is an undisclosed lien for 23,500 for storm and rain assessments payable with my tax bill over 25 year period with intersest at 6% but Title and the lender never saw it. It is not on the Title Policy. Can I get an Attorney or sur WA-Mu-Chase for the entire loan balance??? Anybody know what to do??? Thanks Warren

  • To Whom It May Concern:

    I would like to contact Vermont Trotter, the Mortgage Fraud Expert, regarding his statement about the Wamu’s trusts being empty after the Lawrence Nardi’s sworn deposition. May I have a contact address, either telephone or e-mail, for him? Thanks in advance.

    • SGT

      would you like us to give your e-mail to him so that he might contact you?

    • Kathy Cates

      I too would be interested in contacting Vermont Trotter. We have a former WAMU loan that is in a trust that cannot be found on the SEC. A forensic loan audit showed various violations with my loan. Need help in locating the trust and seeing if it made it to the trust. Thank You.

  • Anyone who has recent info after the Nardi dep re: WAMU/JP Morgan, please advise. Looking into a class action toward JP Morgan. Any info within last year would be appreciated. Greg Palumbo

  • Kathy Cates

    Would like to contact Mr. Trotter regarding a Wamu loan now serviced by Chase. Forensic audit showed numerous violations with loan documents. Trust cannot be found on the SEC and need information how to locate it, if it even exists. Thank You.

  • izraul

    Some give this to V. Trotter and tell him to enjoy it…thoroughly.

    I’m sure he’ll figure out what this is, and the site is full of more from every bank, and their actually being used in bloomberg LOL

    someone might wana hand chase some vasoline for this one! lol

    • frontncenter

      Wow. I’m surprised. I can’t believe no one else has touched on this. The question people should be asking is why are these loans showing up in Bloomberg’s terminal as valid loans when they are not real and/or invalid? The only thing I can come up with is that these loans are being used to either cover up loans missing or sold or loans that have already been paid off by insurance or TARP. Either way it is blatant fraud and this is the proof they are keeping loans on the books to Double Dip.


  • Where – at what link? – can I see and learn all about that confession Chase supposedly made that it is “not successor in interest to WAMU” ? says “we all know” that Chase testified to that in Court, but who is “we” who “all know” ? I cannot find the link to it, and without a document, I cannot know. Please post the link, somebody!

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