Ohio GMAC Foreclosure Case May Set Anti-Wall Street Precedent

The more individuals like Marie over turn darkened stones to find the truth, the more the public is not going to like what is revealed. Unforunately, this problem and its consequences will be with the housing market for some time. The long-term cycle date is 2034. Expect a blizzard of paperwork to try and hide the flow of money.

Dear Jim,

Thank you for sending me the breaking news below regarding the foreclosure of James home. I took the initiative to research the case to the extent I can gather information online, and I can tell you that GMAC is perpetrating a major fraud upon the Court of Common Pleas Cuyahoga County, Ohio.

Beyond what Attorney General Richard Cordray asserts in his Amicus Brief on this case (See Amicus Brief attached hereto), the fraud is not simply limited to the robo-signer, Jeffrey Stephan, and to a false Affidavit; the foreclosure has been brought improperly because the Plaintiff has not identified itself…and that is only just the beginning!

The case caption states that the Plaintiff is “U.S. Bank National Association, as Trustee.” The question is, “Trustee of what?” U.S. Bank serves as trustee of thousands of securitization deals, so which one is involved here?

I began my research to find out the answer to this question by downloading Renfro’s Mortgage from the Cuyahoga County Recorder’s Office at recorder.cuyahogacounty.us (See Mortgage attached hereto)

Using only the information contained therein I was able to trace Renfro’s loan into the “RASC Series 2006-KS1” Trust. I was able to do that because I am testing a powerful new research tool that allows me to trace loans that have been securitized into public offerings registered with the Securities and Exchange Commission with a zip code and a few details about the transaction that are usually contained in the Mortgage.

The RASC Series 2006-KS1 securitization is registered with the SEC and can be researched at
Source: secinfo.com

Once I understood who participated in the securitization of the Renfro Loan, I went back into the County Recorder’s online database and downloaded an Assignment of Mortgage executed by Jeffrey Stephan that purports to transfer the Loan from the originating lender, FMF Capital, LLC to U.S. Bank as Trustee c/o [none other than] GMAC Mortgage Corporation. You are witnessing here the proverbial “fox guarding the henhouse.” (See Assignment attached)

The Assignment of Mortgage was prepared by the foreclosing law firm, Manley Deas Kochalski LLC, Ohio’s largest foreclosure mill. You will notice as well that Mortgage Electronic Registration Systems, Inc. (“MERS”) purports to execute this Assignment on behalf of FMF Capital, LLC. As we know, MERS does not have any employees; rather, Jeffrey Stephan, an employee of GMAC, executed the Assignment in his alter-ego capacity as a MERS Vice President. No corporate seal is imposed, and no references to how Stephan achieves his authority to act is referenced.

In other words, this is a self-dealing Assignment manufactured by the mortgage Servicer (GMAC) in collusion with the foreclosure attorney in a futile attempt to repair the fatally impaired chain of title so that the Renfro Loan could be foreclosed.

Moving on, you will note that the Assignment of Mortgage is dated December 14, 2009, nearly four years after the Deal closed on January 26, 2006, which is a prohibited act pursuant to the Pooling and Servicing Agreement that governs the Trust.

In addition, the Pooling and Servicing Agreement prohibits anyone other than the Depositor, Residential Asset Securities Corporation, to convey the loans into the RASC Series 2006-KS1 Trust. (See Renfro Securitization Flow Chart)

Thus the evidence shows that U.S. Bank, GMAC Mortgage Corporation, and Manley Deas are acting in consort to perpetrate a wrongful foreclosure against Mr. Renfro. What you see here is a classic example of how all of these securitized loans are being foreclosed nationwide i.e., by unbridled, arrogant, and massive fraud.

I will be contacting Attorney General Cordray’s Office today to discuss my findings.

Respectfully,

CIGA Marie

Marie McDonnell, CFE
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analyst
Certified Fraud Examiner
Marie.McDonnell@truthinlending.net