Page 1 of 2 1 2 LastLast
Results 1 to 10 of 13
  1. #1
    Join Date
    Apr 2009
    Posts
    12

    Default 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.

  2. #2
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default 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

  3. #3
    Join Date
    Apr 2009
    Posts
    12

    Default 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.

  4. #4
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default 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.

  5. #5
    Join Date
    Jan 2006
    Posts
    38,867

    Default 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.

  6. #6
    Join Date
    Apr 2009
    Posts
    12

    Default 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.

  7. #7
    Join Date
    Apr 2009
    Posts
    12

    Default 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.

  8. #8
    Join Date
    Jan 2006
    Posts
    38,867

    Default 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

  9. #9
    Join Date
    Apr 2008
    Location
    Texas (Dallas area)
    Posts
    1,404

    Default 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.

  10. #10
    Join Date
    Apr 2009
    Posts
    12

    Default 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?

    1. Sponsored Links
       

Page 1 of 2 1 2 LastLast

Similar Threads

  1. Liens and Encumbrances: Lender Left Some Property Off the Note
    By limiman in forum Real Estate Ownership and Title
    Replies: 2
    Last Post: 03-14-2011, 08:25 PM
  2. Student Loans: Student Loan Lender Won't Provide Copy of Promissory Note
    By novermyhead in forum Debts and Collections
    Replies: 1
    Last Post: 10-03-2010, 05:34 PM
  3. Foreclosure: Produce the Note Works - Here's Proof
    By chuckd in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 09-21-2009, 07:41 PM
  4. Foreclosure: The "Produce the Note" Defense to Foreclosure
    By ballmich in forum Buying, Selling and Conveying Real Estate
    Replies: 10
    Last Post: 05-02-2009, 08:01 AM
  5. Foreclosure: Can Lender Sell Note and Also Report 1099-C
    By need_help-GA in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 03-21-2009, 06:17 PM
 
 
Sponsored Links

Legal Help, Information and Resources