U.S. Bank as Trustee for WaMu 2007-OA3 Trust Denies Its Own Existence
As many of you know, I have been embroiled in foreclosure related litigation in Montana since 2010, and at present, there are two separate appeals pending in the U.S. Ninth Circuit. With these appeals pending, U.S. Bank as Trustee for the WaMu 2007-OA3 Trust filed an “Unlawful Detainer” action against me in State Court, and proceeded with a Motion for Summary Judgment (MSJ). However, prior to filing their MSJ, I served discovery upon U.S. Bank in the form of “Requests for Admissions” (RFA’s). The responses I received back are a “head scratcher” to say the least, as U.S. Bank “as Trustee” denies its very own existence. (See: US Banks RFA Responses – Paatalo UD)
RFA #12 – “The WaMu Mortgage Pass Through Certificates, Series 2007-OA3 Trust is a Delaware Statutory Trust.”
RESPONSE: Den[y.]
Hmmm…The Delaware Secretary of State shows that the Trust is registered as a “Delaware Statutory Trust.
| THIS IS NOT A STATEMENT OF GOOD STANDING | |||
| File Number: | 4320719 | Incorporation Date / Formation Date: | 3/20/2007 (mm/dd/yyyy) |
| Entity Name: | WAMU MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2007-OA3 TRUST | ||
| Entity Kind: | Statutory Trust | Entity Type: | General |
| Residency: | Domestic | State: | DELAWARE |
In addition, here is the link to the “Pooling & Servicing Agreement” (PSA) for the “WaMu Mortgage Pass Through Certificates, Series 2007-OA3” filed on the Securities & Exchange Commission’s (SEC’s) governmental website under penalty of perjury on April 11, 2007:
http://www.secinfo.com/d16VAy.u86.d.htm?Find=irrevocable&Line=4422#Line4422
Per the PSA:
Trust: WaMu Mortgage Pass-Through Certificates Series 2007-OA3 Trust, a Delaware statutory trust, created pursuant to the Original Trust Agreement.
W I T N E S S E T H :
WHEREAS, it is the intention of the Company, the Servicer, the Trustee and the Delaware Trustee that the Trust created by this Agreement constitute a statutory trust under the Statutory Trust Statute, that this Agreement constitute the governing instrument of the Trust, and that this Agreement amend and restate the Original Trust Agreement;
So then I asked,
RFA #13 – “The WaMu Mortgage Pass Through Certificates, Series 2007-OA3 Trust is an Irrevocable Trust.”
RESPONSE: Den[y.]
Per the PSA filing:
Section 9.03. Trust Irrevocable. Except as expressly provided herein, the trust created hereby is irrevocable.
Now as a bit of refresher / background, I have been challenging and exposing these REMIC Trust’s failures to register and comply with assignment recordings in Montana. You can read some of this in David Dayen’s article here: https://theintercept.com/2015/09/14/officials-cover-housing-bubbles-scummy-residue-fraudulent-foreclosure-document/
When asked to admit or deny the very basic question as to whether or not the “WaMu Mortgage Pass-Through Certificates, Series 2007-OA3 Trust” is a separate and distinct entity, U.S. Bank finds the question a bit too confusing.
RFA #1 – The “WaMu Mortgage Pass Through Certificates, Series 2007-OA3 Trust” is a separate and distinct entity.
RESPONSE: Request for Admission Number 1 is confusing and vague in that it does not clarify what “WaMu Mortgage Pass Through Certificates, Series 2007-OA3 Trust” is a separate and distinct entity from, as compared to another entity. Plaintiff admits that it is an entity.”
Gee, look here, another act in contravention of the PSA:
Section 2.03. Separateness Requirements. Notwithstanding any other provision of this Agreement and any provision of law that otherwise so empowers the Trust, so long as any Certificates are outstanding, the Trust shall perform the following:
(iv) hold itself out to creditors and the public as a legal entity separate and distinct from any other Person and correct any known misunderstanding regarding its separate identity and refrain from engaging in any activity that compromises the separate legal identity of the Trust;
Now, let’s look again at the infamous U.S. Bank “Role of Trustee” flier to see how it clashes with these RFA responses. (See: US Bank Role-of-Trustee-Sept2013 )
P.4,
“Trustee
An independent party, responsible for administering the trust for the benefit of investors. While the trustee is listed as the owner of record, the trustee does not have an economic or beneficial interest in the loans.”
But that’s not what you say here U.S. Bank.
RFA #10 – U.S. Bank, National Association, in its individual capacity as a federal savings bank, did not acquire a beneficial interest in Defendant’s deed of trust at, or before, the time of foreclosure sale on June 19, 2013.
RESPONSE: Deny. U.S. Bank, National Association, as Trustee, Successor in interest to Bank of America, N.A., as Trustee as Successor by merger to LaSalle Bank, N.A. as Trustee for WaMu Mortgage Pass Through Certificates, Series 2007-OA3 Trust acquired a beneficial interest in Defendant’s deed of trust on November 7, 2012.
But wait a minute, you just responded to RFA#2 as follows:
RESPONSE: (RFA#2) – [“W]ashington Mutual sold Defendant’s mortgage loan to WaMu Asset Acceptance Corporation on May 27, 2007, pursuant to a Mortgage Loan Purchase and Sale Agreement and Term Sheet between the companies. WaMu Asset Acceptance Corporation then deposited the mortgage loan into the 2007-OA3 Trust, pursuant to a Pooling & Servicing Agreement. The 2007-OA3 Trust then owned Defendant’s Not[e”]
“Oh what a tangled web we weave when first we practice to deceive.”
So instead of responded to U.S. Bank’s MSJ, I simply filed a motion to stay the proceedings pending the outcome of my appeals. In doing so, I simply put this contradictory pile of hogwash in front of the Judge’s eyes, and Voilla! Motion Granted. (See Order: Order Staying Proceedings – MT District Court )
I guess it must be hard to grant relief to a party that denies its own existence.
Bill Paatalo – Private Investigator – OR PSID#49411 – bill.bpia@gmail.com, 406-328-4075
One Responseto “U.S. Bank as Trustee for WaMu 2007-OA3 Trust Denies Its Own Existence”
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Great to see a new article posted. Good work!