Irvinecommuter
New member
So the big news today is the audit conducted by the assessor/recorder in San Francisco finding serious issues with the foreclosure documents for a number of loan.
The New York Times did an article on audit
Actual report:
http://aequitasaudit.com/images/aequitas_sf_report.pdf
There are so many misleading and wrong parts of the report.
For example, it talks about 59% of the loan had assignments of deed of trust filed after the Notice of Default were filed. There is nothing improper about that. Loan are often assigned after a NOD is issued. NOD is signed by an agent authorized to issue the notice by the beneficiary.
Also, it talks about 85% of the Substitution of Trustee were not executed by the "actual owner of the loan." Except that is not the rule in California. All you need to to be the proper "beneficiary" of the Deed of Trust.
Of course, no one will care enough to actually find out the truth and there will be another round of internet speculation and outcry.
The New York Times did an article on audit
Actual report:
http://aequitasaudit.com/images/aequitas_sf_report.pdf
There are so many misleading and wrong parts of the report.
For example, it talks about 59% of the loan had assignments of deed of trust filed after the Notice of Default were filed. There is nothing improper about that. Loan are often assigned after a NOD is issued. NOD is signed by an agent authorized to issue the notice by the beneficiary.
Also, it talks about 85% of the Substitution of Trustee were not executed by the "actual owner of the loan." Except that is not the rule in California. All you need to to be the proper "beneficiary" of the Deed of Trust.
Of course, no one will care enough to actually find out the truth and there will be another round of internet speculation and outcry.