Thursday, November 15, 2007

Are you even the mortgage holder, judge asks?

There was an interesting federal court case out of Ohio profiled here. It may provide some further ideas on possible defenses in foreclosure suits.

It seems that Deutsche Bank brought suit as trustee for various securitization pools that allegedly held a number of mortgages. However when the judge asked to see proof that the "pools" actually held the mortgages they couldn't produce any loan assignments showing that the mortgages had indeed been transferred to the "pools." Oooops!

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