Selling Mortgage Loan Data Is Like Selling The Brooklyn Bridge; Another Tale In The LSF9 Crime Spree.

There once was a man named George C. Parker, a con man whose claim to fame was selling the Brooklyn Bridge twice a week for thirty-years. He made a career out of selling real estate he did not own. What a gig!

George C. Parker – Wikipedia

“Parker had multiple methods for making his sales. When he sold Grant’s Tomb, he would often pose as the general’s grandson, and he set up a fake office to handle his real estate swindles. He produced convincing forged documents as evidence to suggest that he was the legal owner of whatever property he was selling.”

 

Here is yet another tale in the fraudulent scheme being perpetrated by “U.S. Bank Trust, N.A. as Trustee for the LSF9 Master Participation Trust.” I came upon this federal foreclosure action in the State of Maine captioned U.S. Bank Trust, N.A. as Trustee for the LSF9 Master Participation Trust v. Lee A. Plummer, USDC Maine Case No. 2:20-cv-00171-DBH. My latest check of the docket, in this case, shows that Defendant has yet to be located and served, and it appears the Plaintiff is getting ready to take a default soon. Even without a Defendant, however, the court should easily see that this complaint is a sham if it simply takes the time to read Plaintiff’s pleading. Take a look at ¶13 in the snippet below taken from the  complaint’s statement of facts, “The Mortgage was then assigned to Federal National Mortgage Association by virtue of a Lost Assignment Affidavit dated February 8, 201[9.’]:

Now, let us look at Plaintiff’s “Exhibit E” (Here: Lost Assignment Affidavit – LSF9 v Plummer Exhibit E ). First, this document in no way represents an assignment of the mortgage to Fannie Mae, as it states, “SAID Note and Deed of Trust/Mortgage was subsequently sold and purportedly assigned to FEDERAL NATIONAL MORTGAGE ASSOCIATION.” Sold, but purportedly assigned?

pur·port·ed·ly

adverb

1. as appears or is stated to be true, though not necessarily so; allegedly.

So the complaint is alleging as fact that the subject Mortgage was assigned by virtue of a lost assignment that purportedly existed somewhere to someone.

The Lost Assignment Affidavit then states in the next paragraphs,

“THAT required Assignment by LETOM MANAGEMENT LLC (ASSIGNOR) to FEDERAL NATIONAL MORTGAGE ASSOCIATION (ASSIGNEE) has not been recorded and the original has been lost or misplaced.

THAT U.S. BANK TRUST, N.A., AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST is the current rightful owner and holder of The Note and Deed of Trust/Mortgage as described above. After a diligent search, U.S. BANK TRUST, N.A., AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST has been unable to locate any agents or officers of LETOM MANAGEMENT, LLC and is recording this Affidavit for the purpose of claiming its ownership of the Note and Deed of Trust/Mortgage.”

 

So here we have a “Lost Assignment Affidavit” stating there was an original assignment somewhere that was not recorded and was lost or misplaced without any knowledge of any actual assignment having ever been created by Letom Management, LLC. Why? Because no one could find any agent or officer of Letom!

 

This is a prime example of a stranger to title who came into possession of data from a source who could not sell or provide a valid chain of title; “The Brooklyn Bridge Dilemma.” The chain of title ended with LETOM MANAGEMENT, LLC.  This is the overall M.O. (method of operation) by Caliber acting on behalf of U.S. BANK TRUST, N.A., AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST. This case, however, is astonishingly brazen because Caliber admits in the Lost Assignment Affidavit that it essentially cannot verify anything other than the fact that the Note and Deed of Trust/Mortgage were sold at some point by LETOM MANAGEMENT, LLC, but no one can be found at LETOM to verify what happened to the Plummer Note and Deed of Trust / Mortgage. Facing a dead-end and possessing nothing but supposed bad debt data, Caliber, on behalf of U.S. BANK TRUST, N.A., AS TRUSTEE FOR LSF9 MASTER PARTICIPATION TRUST decided to stake claim to the Plummer Note and Deed of Trust/ Mortgage by assigning everything unto themselves and then shamelessly urging the court to believe its statement of fact in ¶13 that “the Mortgage was then assigned to Federal National Mortgage Association.”

 

Bill Paatalo – Private Investigator – OR PSID# 49411

Bill.bpia@gmail.com