Tax status of the trust in the P.S.A.( R.E.M.I.C.) will be treated as REPRESENTING OWNERSHIP OF THE DEBT,SOLD YOUR MORTGAGE

Asked over 1 year ago - Clinton, MA

so under the P . S . A . the DEPOSITOR SELLS all 1127 MORTGAGES that is in trust to a buyer that pays the DEPOSITOR A AMOUNT OF 550 MILLIONS DOLLARS FOR THEIR CERTIFICATES , this would be and is intended by the parties to be and has been DOCUMENTED AS A SALE , so i SELL my NOTE , MORTGAGE TO G . M . A . C . , then G . M . A . C . sets up G . M . A . C . M . TRUST than PUTS ALL MORTGAGES to RESIDENTIAL ASSET MORTGAGE , then RESIDENTIAL ASSET MORTGAGE makes a PASS THROUGH CERTIFICATES , THEN SELLS ALL CERTIFICATES TO CITIGROUP GLOBAL MARKETS , INC , SO CITIGROUP pays the DEPOSITOR THE 550 MILLION DOLLARS , AND IS RECORDED AS A TRUE SALE . SO HOW COME JUDGES CANT SEE THAT A TRANSACTION ACCURD

Attorney answers (3)

  1. Herbert Weinberg

    Pro

    Contributor Level 12

    Answered . You give so much information that the question is hidden. Please tells what the question is and why it is significant and then we may be able to give you some help.

    This service is to give basic information for people to decide if they have a case and if they want to hire counsel. You may get useful information if you keep that in mind in restating the question

  2. John Laughlin Fink

    Pro

    Contributor Level 8

    Answered . Based on what I understand of your question, you appear to asking about the validity of the Mortgage Electronic Registration System in holding title to your property while a tax except trust made transfers (possibly after the close date?) in violation of the Pooling and Servicing Agreement. Massachusetts recently had a ruling on the subject in Culhane v. Aurora Loan Servicing of Nebraska, which is discussed quite well in the Massachusetts Real Estate Law Blog located here: http://www.massrealestatelawblog.com/category/f...

    Perhaps you can review the blog and formulate your question a little clearer.

    John L. Fink is an attorney licensed to practice in Massachusetts and can be reached at 978-655-1162 ex 12.... more
  3. Matthew Scott Berkus

    Contributor Level 20

    Answered . What is your point, exactly? Or better, what is your question. Is your question really, "how come judges can't see that a transaction occurred?"

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