The best $2000 I ever spent!
When your forensic audit comes back, it can be overwhelming. It's full of accounting language and screenshots that look like something out of an episode from Billions (HBO). I had to read, and reread, and study, and then take time to digest the information...and then read my audit again to finally make sense of it. Then it clicked!
I have attached important pages from my auditor's Affidavit where he explains why my mortgage company (servicer) Mr. Cooper (aka Nationstar) has no legal right to collect payments from me. They don't own my Note or my debt! Remember, the Mortgage Contract is tangible. The Note is tangible. The Debt is intangible. If the Note is not indorsed (the legal document way of saying endorsed), there's no debt. If the person collecting the debt doesn't own the Note (which must be indorsed to them) and the contract attached to that Note, then they cannot own the debt - it's impossible. The intangible debt only exists if the Note is indorsed to the proper bank collecting payments and it is attached to the Mortgage they also own. Plus, all of this must be publicly recorded. It's not.
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This is the second page of the audit that right away shows the list of Exhibits and that Exhibit A, the Note received from Mr. Cooper has not been recorded. Later it explains that nobody has indorsed that Note. That's probably why it was never recorded because it would show Mr. Copper does not own the Note.
Mortgages are regularly sold to what is called a REMIC Trust. There it is bundled with other mortgages and traded on the market as a bond investment. So right there is proof that the mortgage was immediately sold to this REMIC Trust after I closed on my house Dec. 6, 2021.
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The REMIC Trust should have ownership now of the Mortgage, The Note, and the Debt, (they don't) and it should be publicly assigned as such with the County (it's not)
THAT IS A HUGE PROBLEM FOR MR. COOPER.
This is basically saying Nationstar was "assigned" the Mortgage, but nothing exists to prove they bought it and the Note. "Assigned" does not mean sold.
All evidence proves that the REMIC Trust bought the Mortgage, but they are not named as the owners on any public record.
Many banks use MERS to record Mortgages. Here, Joe is proving that MERS states that it does not transfer ownership of the Debt or the Note. It has to be done separately and also recorded.
He sums it up by saying no party owns the Mortgage, the Note, and the Debt together as is required for a contract to be valid. Mr. Cooper owns nothing of mine and cannot legally collect monthly payments for me.