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Judge Ordered Lender to Produce Note - How Long Do They Have

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  • 04-18-2009, 06:48 PM
    mwciii
    Judge Ordered Lender to Produce Note - How Long Do They Have
    Florida Mortgage was with wamu, which was bought by jp morgan chase. A florida judge has ordered the lender to produce an assignment for the mortgage note "within 30 days". It has been a few months since that order. How long does the lender have to produce assignment? Should I press the issue?

    also, How can I find where my note was securitized? I have found billions of dollars worth done by wamu, but have not located mine.
  • 04-18-2009, 06:55 PM
    OhMy
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    Quote:

    Quoting mwciii
    View Post
    Florida Mortgage was with wamu, whiich was bought by jp morgan chase. A florida judge has ordered the lender to produce an assignment for the mortgage note "within 30 days". It has been a few months since that order. How long does the lender have to produce assignment? Should I press the issue?

    Since all WAMU mortgages are in the MERS system all Chase has to do is a pull of docs from MERS. MERS has all the assignments and it only takes a few seconds for them to produce it. It is not a stall that will result in any extra time.

    Time is on your side. However, do not think that the foreclosure will be thrown out. The attorney for Chase can ask for time as they are busy as well. You get to live in the home longer.

    Here is a link to MERS;

    http://www.mersinc.org/Foreclosures/index.aspx
  • 04-18-2009, 07:03 PM
    mwciii
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    How do I find out if the mtg id in mers. I chacked their site and it looks like only subscribers can access the info.
  • 04-18-2009, 07:07 PM
    OhMy
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    Every mortgage that WAMU owned is in the MERS system. Therefore, yours is in there as well.

    For the assignment to be found will only take a few seconds and can be produced easily. However, The attorney for Chase has to request it from Chase and it has to run the course through Chase and MERS. Just because something takes a few seconds to collect does not mean that they will just do it NOW.
  • 04-18-2009, 07:12 PM
    jk
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    Quote:

    Quoting mwciii
    View Post
    Florida Mortgage was with wamu, which was bought by jp morgan chase. A florida judge has ordered the lender to produce an assignment for the mortgage note "within 30 days". It has been a few months since that order. How long does the lender have to produce assignment? Should I press the issue?

    also, How can I find where my note was securitized? I have found billions of dollars worth done by wamu, but have not located mine.

    I'm not understanding your first question. You state the court gave them 30 days to produce the document so they have 30 days to produce the document. Was that confusing somehow?

    Now, they can take forever if the court did not schedule any further hearings and you do not do anything about. Apparently the court did not schedule any further hearings and the lender is apparently simply waiting for you to do something, so, do something.
  • 04-18-2009, 07:12 PM
    mwciii
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    I checked the public records in the county where the mtg is recorded. On other mortgages recorded, mers was noted along with the lender. With this loan, only wamu. It seems as if this loan (subprime circa 2006) may not be recorded with mers.
  • 04-18-2009, 07:15 PM
    mwciii
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    I filed a motion to enforce order, but the court has not responded.
  • 04-18-2009, 07:19 PM
    jk
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    is failure to show the document good for you or bad?

    how long ago did you file your motion
  • 04-18-2009, 07:21 PM
    OhMy
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    Quote:

    Quoting mwciii
    View Post
    I checked the public records in the county where the mtg is recorded. On other mortgages recorded, mers was noted along with the lender. With this loan, only wamu. It seems as if this loan (subprime circa 2006) may not be recorded with mers.

    The loan is in MERS as it was assigned to Chase. It does not have to be recorded as MERS to be in the MERS system. Mers primary function is to handle paperless transfers.
  • 04-18-2009, 07:34 PM
    mwciii
    Re: Fl Judge Ordered Lender to Produce Note How Lomh Do the Have
    I guess thats the point. If they can't produce the assignment, it is possible wamu had sold the loan in a security and did not have posession of it to assign. Is it possible for me to get into the mers system ans search fo it?
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