This is an open letter to the investors of US BANK National Association Trustee for RMAC TRUST, SERIES 2013-1T For Roosevelt mortgage.
I am one of the homes they purchased from Archbay Holdings LLC 2010B. I think its only fair for once Investors are told the truth.
This house they have listed for 180,000.00 Is actually worth 119,000.00 According to a responsible appraiser in 2011.
See it was over appraised by Long Beach in 2004, when they sent their appraiser.
This house went into foreclosure in May of 2006, under Long Beach. Washington Mutual was Master servicer. Wamu sold its servicing ( remained as Master Servicer) to Select Pro-Folio Services in Oct 2006.
In Dec 2008,DB Structured Products ( a company in name only for Deutsche bank) came forward and said , we own it and have since Sept 2006. Nothing on the land records proved this and because they came out 3 months AFTER the FDIC took Washington Mutual , and the time to contact the FDIC was over, we have no recourse to find out the truth. ( More later on this) Even the lawyer for SPS didn't know of them till a few days prior to this, at this point they thought they were still working for Long Beach/Washington Mutual.
In Nov of 2010 Deutsche Bank sold my note to Archbay Holdings LLC 2010B. Deutsche Bank never proved they owned the note , no land record was ever recorded , and the assignment they gave to the town had not one but two ROBO SIGNERS on it. The town clerk was even confused as to how they were able to sell a note they never showed they owned.
In Jan of 2011, I wrote to the VT AG, who forwarded my information to the OCC in Texas, who contacted JP Morgan and Chase. Who after 6 months , sent us a letter and stated they owned BOTH the first and second mortgage. They sent signed documents of both notes, the mortgages, and the HUDS. (Everything was in order and it looked like this nightmare was over, I could pay my loan and move forward., unfortunately , thats not what happened) Chase even CC the VT AG and the OCC this paperwork, claiming ownership.
Than a month or so later the Lawyer for Deutsche Bank,DB Structured Products,Archbay Holdings LLC 2010B, now Roosevelt Mortgage, showed a assignment, supposedly from Chase, signed with four ROBO SIGNERS, as an emergency assignment for DB Structured Products, and Archbay Holdings LLC 2010B, to be returned to M.E. Wilerman ( remember that name from CITI problem back a few years ??) @ Orion Financial Group In Texas. This was supposedly signed in July 2011, before my papers from Chase were sent saying they owned the loan. Not only did Chase claim this, but their Rep who spoke to my lawyer and I confirmed it in Dec 2011. Suddenly in June 2012, Chase writes a letter stating they made a mistake, they NEVER had the first loan ( where did all them papers come from hmmm, ) . A mistake? My life and you play this game? Come on! But hey, guess what Chase did do? They wrote the second note off as paid in full and satisfied! How kind of them huh? ( By the way even after Chase told the VT AG and the OCC they owned these notes , and than changed their minds, neither the VT AG nor the OCC did anything to help , it was like NO BIG DEAL, at least that is what they made it feel like. It was Ok to lie and deceive, nobody cared, I also wrote my congressman and Senators , never heard back from neither Leahy or Sanders )
Its now 2012, and the lies are coming from all sides, yet, still no one knows where the note is. They have all said we have it, but no show. So , now lets slide to Jan 28, 2013.. big surprise.. the loan was sold again! This time to Roosevelt Mortgage, and surprise, surprise ,so has the paperwork. I have asked to get digital copies , but was told no.. I am also willing to bet Orion Financial Group is involved. I also forgot to mention , that the Judge in my case, who just wanted this done, would not give my attorney or I time to find out how they got the note or depositions. In two weeks my case was heard , we went in blind.
The Judge who is not up to speed on these kind of Mortgages , gave them all they asked for. After 7.5 years , because like he said, he just wanted it over.
But here's also more they didn't tell you.
1- The house is worth 60 thousand plus less than you were told.
2- Their are liens on it ( Federal ones) for 201,000.00 and one for 17,500.00.
See my only fault was wanting to pay for my home, and NOBODY WOULD LET ME! It wasn't for not trying because I did try, for 7.5 long years I did try. I lost my life savings and I struggle to pay for my oldest son to now go to a community college.
So you ask me why am I telling you? Well, during all this time , I read about alot of cases where in the 2005-2009 period, so many investors were hurt by what the banks did . I know that many of you have worked hard , just like me, for your money, and I also know that just like me you have families who will suffer from these losses. It's called doing what is right.
Its your choices to decide to keep going or not. But this time you have someone coming forth to tell you the truth, before its to late. As for me, the Judge signed the order, I lost, lies, theft, and deceit wins again.
I have paperwork to prove everything written here. I didn't lie or deceive anyone, and I fought a hard fight for my family, and even though I lost, I lost with a clear conscious.
You need to think about this, as well. If their is this much deception in just my one loan, how much more is in the rest of them? You, were told this loan was worth 180,000.00 , when in fact its worth at best 119,000.00. That's a 61,000.00 dollar loss! Their is also no guarantee , you will come close to this amount in a sale, due to the problems with the house, and the land records . Remember, this time around you have choices , and you have been told the truth. If you lose now, it will be by your own greed .