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03-19-2008, 08:32 AM

I understand that you are hot on the trail of lost notes, MERS and such....but without an attorney to pursue that...you are in a morass of insanity. You really need legal assistance with that issue.

They are validating the notes that are required to be reaffirmed and the MERS contract is a little more complex than what is on the surface...they can go to the courts and ask for reaffirmation of the note if it is lost...the courts are 9 out of 10 times in most cases reaffirming...there are some jurisdictions that are not, however, in most cases they are.

This note may not be in MERS and if the foreclosure is non judicial, matters not....you really if you want to pursue this one need to find an attorney to do this...this is not a simplistic or easy methodology to attack the situation with. Even MERS members can reaffirm the note and go forward with foreclosure with a certain process allowable to the system....

HSBC may own the collateral with Chase acting as the Servicer for the Collateral, if Chase is the servicer, there is a chance that the note is happily sitting their vault in a southern state....it is very happily in bed in that vault....Chase is very picky and very anal about collateral reviews.....they do not take loans very often for servicing that have no NOTES....in fact I have never seen it occur.

Chasing the Note issue is without a jurisdiction that will enforce the issue kind of a non event. These things are being worked out and the time involved in dealing with this is more than likely better spent in trying to get the Servicer to get their ACT together.....and do their job as required by the regulating agencies.

If you wish to pursue this, I would heartily recommend and attorney for your state that is presently involved in this situation as you are going to need to make a formal demand of the courts in the foreclosure process to cough up the NOTE, original variety.....then they will counter and the game begins....and not for not they will cough it up....Chase is again very anal....HSBC is only the investor in this puppy....now, if RESMAE sold this to Credit Suisse, then to whomever then to HSBC....and Chase is servicing...there is a chance that the note could be missing in action, but I have never been on a review with Chase where the collateral is missing in action...they have them. I would be very surprised if it were missing in a Chase Servicing Shop. But stranger things have happened....

03-19-2008, 08:32 AM	#16 (permalink)
Mary Salzer Guest Posts: n/a	Re: HSBC/CHASE Nightmare!! I understand that you are hot on the trail of lost notes, MERS and such....but without an attorney to pursue that...you are in a morass of insanity. You really need legal assistance with that issue. They are validating the notes that are required to be reaffirmed and the MERS contract is a little more complex than what is on the surface...they can go to the courts and ask for reaffirmation of the note if it is lost...the courts are 9 out of 10 times in most cases reaffirming...there are some jurisdictions that are not, however, in most cases they are. This note may not be in MERS and if the foreclosure is non judicial, matters not....you really if you want to pursue this one need to find an attorney to do this...this is not a simplistic or easy methodology to attack the situation with. Even MERS members can reaffirm the note and go forward with foreclosure with a certain process allowable to the system.... HSBC may own the collateral with Chase acting as the Servicer for the Collateral, if Chase is the servicer, there is a chance that the note is happily sitting their vault in a southern state....it is very happily in bed in that vault....Chase is very picky and very anal about collateral reviews.....they do not take loans very often for servicing that have no NOTES....in fact I have never seen it occur. Chasing the Note issue is without a jurisdiction that will enforce the issue kind of a non event. These things are being worked out and the time involved in dealing with this is more than likely better spent in trying to get the Servicer to get their ACT together.....and do their job as required by the regulating agencies. If you wish to pursue this, I would heartily recommend and attorney for your state that is presently involved in this situation as you are going to need to make a formal demand of the courts in the foreclosure process to cough up the NOTE, original variety.....then they will counter and the game begins....and not for not they will cough it up....Chase is again very anal....HSBC is only the investor in this puppy....now, if RESMAE sold this to Credit Suisse, then to whomever then to HSBC....and Chase is servicing...there is a chance that the note could be missing in action, but I have never been on a review with Chase where the collateral is missing in action...they have them. I would be very surprised if it were missing in a Chase Servicing Shop. But stranger things have happened....