Monday, June 18, 2018

Case No. 1 - Florida Home Mortgage Loan Originated by Countrywide, Purportedly Securitized by Countrywide, Report Outline

This article contains the outline of a report on an actual securitization audit that was conducted on November 28, 2017. The loan was granted on August 29, 2007 by Countrywide Bank, FSB and is purported to have been securitized into CHL Mortgage Pass-Through Trust 2007-18. It is secured by a property located in Naples FL. This property belongs in the jurisdiction of Collier County.

This article was written on June 16, 2018.

The findings in this examination are factual although they are here provided for informational purposes only and are not to be construed as legal advice. The borrower is strongly advised to consult a competent legal professional in connection with the contents of this report and its proper use.

Clicking on the highlighted section title brings the reader to the contents of section.

Table of Contents

B. The Loan & Security

     1. The Debt Instrument

         1.1. About the Originating Lender

         1.2. Endorsements

                1.2.1. First Endorsement

                1.2.2. Second Endorsement

     2. The Security Instrument

         2.1. About MERS

                2.1.1. MERS & the Debt Instrument

                2.1.2. MERS & the Security Instrument

                2.1.3. Acts by MERS Affecting the Mortgage

                 First Assignment of Mortgage

                 Second Assignment of Mortgage

         2.2. Property Appraisal & Loan-to-Value Ratio

                2.2.1. The Present Value

                2.2.2. Market Trends for Naples FL

                2.2.3. Estimated Over-Appraisal

                2.2.4. Effect of Over-Appraisal

     3. Information on the Debt & the Security

         3.1. General Information

                3.1.1. Information on the Debt & the Security Instruments

                3.1.2. The Parties to the Debt & the Security Instruments

         3.2. Loan Modification

         3.3. About the Servicer

     4. Securitization

         4.1. Documents Purporting Securitization

         4.2. About the Securitization Trust

               4.2.1. Establishment

               4.2.2. General Information

               4.2.3. Legal Personality

               4.2.4. The Governing Document

               4.2.5. A Diagram of this Securitization

               4.2.6. Links to the Trust Documents

               4.2.7. The Trust as a REMIC

                Election as a REMIC

                The Assets of the Trust

                The Certificates Issued by the Trust

        4.3. The Loan Transfer Requirements

               4.3.1. The Transfer Requirements, in General

               4.3.2. The Provisions Requiring the Transfers

        4.4. The Actual Transfer Transactions

               4.4.1. First Endorsement 

               4.4.2. Second Endorsement

               4.4.3. First Assignment of Mortgage

               4.4.4. Second Assignment of Mortgage

     5. Profit on Securitization

         5.1. Interest in the REMIC

                5.1.1. The Loan as an Interest in the REMIC

         5.2. Pass-Through Rate and Income

                5.2.1. About Pass-Through Rate

                5.2.2. Pass-Through Rate, Applied

         5.3. Recovery of the Loaned Amount

     6. Foreclosure

         6.1. Loan History Leading to Foreclosure

         6.2. Complaint

C. Analysis of Transactions

     1. The Sequence of Transactions

     2. Explanation & Analysis

         2.1. Loan Granting & Execution of Deed

         2.2. Endorsement & Assignment, Originating Lender to Seller

                2.2.1. The Provisions Requiring the Transfers

                2.2.2. Statement of Compliance or Non-Compliance

         2.3. Endorsement & Assignment, Seller to Depositor

                2.3.1. The Provisions Requiring the Transfers

                2.3.2. Statement of Compliance or Non-Compliance

         2.4. Endorsement & Assignment, Depositor to Trustee

                2.4.1. The Provisions Requiring the Transfers

                2.4.2. Statement of Compliance or Non-Compliance

          2.5 Examination of the First Endorsement

                2.5.1. Laurie Meder, Robo-Signing Suspect

                2.5.2. About Self-Authenticating Signatures

         2.6. Examination of the Second Endorsement

                2.6.1. Michele Sjolander, Robo-Signing Suspect

                2.6.2. About Self-Authenticating Signatures

         2.7. Examination of the First Assignment

                2.7.1. Serena Harman, Robo-Signing Suspect

                2.7.2. Mary Kist, Robo-Signing Suspect

                2.7.3. Chastity Terrell, Robo-Signing Suspect

                2.7.4. Verbiage of the Assignment

                2.7.5. The Notarial Oath

                2.7.6. Separation of the Mortgage from the Note

                2.7.7. Document Preparation & Handling

                2.7.8. Date of Effectivity

         2.8. Examination of the Second Assignment

                2.8.1. Cynthia Santos, Robo-Signing Suspect

                2.8.2. Dominique Johnson, Robo-Signing Suspect

                2.8.3. Yomari Quintanilla, Robo-Signing Suspect

                2.8.4. Chester Levings, Robo-Signing Suspect

                2.8.5. Jovida Alvarez-Diaz, Robo-Signing Suspect

                2.8.6. Verbiage of the Assignment

                2.8.7. The Notarial Oath

                2.8.8. Separation of the Mortgage from the Note

                2.8.9. Document Preparation & Handling

         2.9. Complaint to Foreclose Mortgage

                2.9.1. About Edwina Hitchin

                2.9.2. About the Complaint

                2.9.3. About the Examination


A. On Self-Authenticating Signatures

B. On the Separation of the Security Instrument from the Debt Instrument

C. On the Basis of the Borrower’s Right to Question the Transfer

End of article.
Also read:

Robo-Signing Suspects, A to Z

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