Is Bank of New York Mellon Trustee for certificate holders of your Loan?

[isisis]

I am so confused. I have been looking for over a week for the trust my loans are in. We have a 30 year fixed and easy first mortgage that was sold to fannie Mae and the second is a 15 year balloon with New York Bank of Melon (I didn't know they were splitting my loan in half until I got to closing and was put on the line.... and I had already put money into the home).
Anyway, this was in MARCH 16, 2007. I have spent numerous days and nights looking. I called bank of America and they would NOT tell me... they played stupid. Can anyone please help this Michigan who is not so good at figuring this all out?

Hi takeninmichigan,

The simplest way to cut to the chase might be to send a Qualified Written Request (QWR) under RESPA or a validation of debt letter under the Fair Debt Collection Practices Act (FDCPA) requesting information on your investor. There are examples of either type letter available through a google search, i.e., what you need to state in the letter to make it fall into either of those categories so the bank is obligated to respond. In some cases searching blind for your trust can be a needle in the haystack effort. Occasionally - though uncommonly - a loan's origination date doesn't correspond to the trust's date for various reasons.

 

[takeninmichigan]

Believe it or not, I found it by searching. It took me months. A week or so ago, I learned more about the CWHEQ 2007 series most of the closed end seconds (CED), second lein mortgages... home equity type loans... are with the CWHEQ. I can't find the post I put up a week ago or so, but I found that my mortgage was in a trust that was bought up by the Federal Reserve. It was under the maiden lane 11 (two). I also learned that then the Federal Reserve started licking the behind of BOA and teamed up against aig and mbia arguments in regard to their claims of fraud and misrepresentations against Bank of America.

It is a mess and I would attribute the (no mods, zombie titles, no principle or interest reduction to those who have Bank of New York Mellon as "TRUSTEE" not participating). There is fraud up to Christ's gates...... hopefully he will throw him off his land and send them all to Hell where they belong. Horrible what these banks and corruption of our elected officials have done.......

 

[Lizzard]

Our cwalt 2005-57cb is mentioned on the countrywide RMBS Settlement. How do we connect our loan to that settlement & what does it mean for us. B of A has been giving us the run around.

 

[isisis]

Hi Lizzard,

I don't think you can connect to the settlement. Homeowners we're party to the action or even third party beneficiaries so it's not like other settlements in which Bofa has been involved; it can't be enforced, which infortunately was often the case in situations where it should have been. No, we're like the elephant in the room in terms of the CW RMBS Settlement but that doesn't mean you can't make use of it if you want.
It sounds like you weren't sub-serviced so I can't help you out with more specifics on their responsibilities in that regard but there should be language in the Settlement pertaining to their responsibilities in servicing loan kept with Bofa. I am attaching exibit B from the Settlement, all 37 scintillating pages, LOL. What you could do is write a letter saying something like this
Bank of America appears to be in non-compliance with the terms of the Countrywide RNBS Settlement which state:

"Loss Mitigation Requirements Applicable to All Loans.
Beginning on the Signing Date, for each borrower with a Mortgage Loan in the Covered Trusts that is considered
for modification programs, the Master Servicer and/or each of the Subservicers, as applicable,
shall simultaneously evaluate the borrower’s eligibility for all applicable modification programs
in accordance with the factors set forth in Subparagraph 5(e) (including, as applicable, HAMP
and proprietary modification programs, which programs may, pursuant to the Governing
Agreements, include principal reductions), and shall render a decision within sixty (60) days of
receiving all requested documents from the borrower; provided that nothing herein shall be
deemed to create an obligation on the part of Master Servicer to offer any modification or loss
mitigation strategy to any borrower."

That's just an example knowing what specifically would be applicable in your case but sometimes just letting them know that you know what their legal responsibilities are can be very helpful in straightening them out.

 

[MadAsHell]

Steps

Type the following into your web browser:
https://gctinvestorreporting.bnymellon.com/Home.jsp

In search box select:

1. All
2. Issuer
3. Type Original Lender in search box

In my case the lender is Countrywide. This brought up all Trusts held by Bony. I search each looking for CWABS 2005-16,the Trust that holds my Promissory Note.

After clicking on the Issuer, under Reports I selected download under the "LOANS" Report. There I was able to locate my loan number.

I can't even tell you how I came upon this other than divine intervention. After looking up my Trust CWABS 2005-16 at the SEC website and reading the entire prospectus, I found that the "Loan Schedule" identifying the mortgage notes was not provided , other than a reference to Exhibit F.

I have serious doubts that the loans securitized in this trust were ever endordesd and transferred as required by the PSA. Could this mean that these loans are voidable if they were held by CW and not transferred until BOFA took over? The cutoff date was March 2006.

Another weird thing is that the Reports submitted to the Trusts for Jan 2006- June 2008 that CW shoould have been providing, were not submitted until Aug 2008 after BOFA took over. It seems this would violate the PSA as well.

Could this be why BOFA has stalled mods, foreclosures, etc. Is this why Robo signers are needed?

Any thoughts