The findings in this examination are factual although they are here provided for informational purposes only and are not to be construed as legal advice. The borrower or the reader, as the case may be, was or is advised to consult a competent legal professional in connection with the contents of this report and its proper use.
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FORECLOSURE
Loan History Leading to Foreclosure
1. The loan was granted on April 24, 2009 by GSF Mortgage Corp. The Mortgage names MERS as
nominee for the lender and mortgagee.
2. The note was endorsed by GSF Mortgage Corp. in favor of Bank of America, NA. The Mortgage
was assigned by MERS to Bank of America, NA.
3. The note was endorsed and the Mortgage was assigned by Bank of America, NA in favor of The
Secretary of HUD.
4. The note was endorsed by The Secretary of HUD through Bayview Loan Servicing, LLC, its
Attorney-in-Fact in favor of Bayview Acquisitions, LLC.
5. The Mortgage was assigned by The Secretary of HUD through Bayview Loan Servicing, LLC, its
Attorney-in-Fact to Bayview Loan Servicing, LLC itself.
6. The note was endorsed in blank by Bayview Acquisitions, LLC.
7. The Mortgage was assigned by Bank of America, NA through Bayview Loan Servicing, LLC, its
Attorney-in-Fact to The Secretary of HUD.
8. The Mortgage was assigned by The Secretary of HUD through Bayview Loan Servicing, LLC, its
Attorney-in-Fact to Bayview Loan Servicing, LLC itself.
9. Between February 20, 2014 and September 2, 2017, Bayview Loan Servicing, LLC informed the
borrowers four times of changes in the creditors on the subject loan. The four creditors
mentioned appear to be securitization trusts who have neither been endorsees of the note nor
assignees of the Mortgage.
Foreclosure Transactions
1. Complaint to Foreclose Mortgage
On January 21, 2015, a Complaint to Foreclose Mortgage was filed in the Circuit Court of the
Eleventh Judicial Circuit for (Name of County withheld). This document names Bayview Loan
Servicing, LLC as the plaintiff and the borrowers among the defendants and pertains to the
property that was mortgaged to secure the note on subject loan.
This Complaint states among others that:
1.1. “A copy of the Mortgage”, “a copy of the note secured thereby” and “copies of all
assignments of mortgage” are attached to this Complaint.
1.2. “Plaintiff is the legal holder of the note, mortgage and indebtedness”.
On July 18, 2018, a Supplemental Affidavit was filed in the Circuit Court of the Eleventh Judicial
Circuit for (Name of County Withheld). This document pertains to the Complaint to Foreclose
Mortgage that is described above.
This affidavit states among others that:
2.1. The affiant is Document Coordinator of Bayview Loan Servicing, LLC (paragraph 1).
2.2. In the regular performance of his/her job functions, the affiant has access to and is
familiar with the business records created and maintained by Bayview Loan Servicing, LLC
(paragraph 2).
2.3. This affidavit is based upon the personal knowledge obtained by the affiant through the
review of and in reliance upon those business records concerning the loan which is the
subject of this proceeding (paragraph 6).
2.4. Plaintiff is the holder of the subject note, mortgage and indebtedness and has been since
prior to the commencement of the instant foreclosure action (paragraph 7).
2.5. According to the plaintiff’s business records, on January 28, 2014, the plaintiff purchased
the loan from Bank of America, NA and on March 12, 2014, the servicing rights were
transferred to the plaintiff (paragraph 10).
Examiner’s Comments
The Complaint and the Supplemental Affidavit state that the plaintiff is the holder of the note, mortgage and indebtedness. These two documents do not state that the plaintiff is in possession of those documents.
The following allegations by the plaintiff in its complaint and supplemental affidavit are rebutted as follows. These rebuttals, which are based on the other documents that were presented in this examination, directly contradict the plaintiff’s allegations.
1. On January 28, 2014, the plaintiff purchased the loan from Bank of America, NA (paragraph 10,
Supplemental Affidavit).
Based on the documents that were presented in this examination, the holder of the note and
Mortgage as of January 28, 2014 was still Bank of America, NA, which was the transferee of the
loan from GSF Mortgage Corp., the originating lender. Bank of America, NA endorsed the note on
an unknown date and assigned the Mortgage to The Secretary of HUD on February 12, 2014.
2. Plaintiff is the holder of the note, mortgage and indebtedness since prior to the commencement
of this foreclosure action (paragraph N, Complaint and paragraph 7, Supplemental Affidavit; the
complaint was filed on January 21, 2015).
2.1. It could not be ascertained if the plaintiff is an endorsee of the note. This note was last
endorsed in blank on an unknown date by Bayview Acquisitions, LLC, apparently an affiliate
of the plaintiff.
The following allegations by the plaintiff in its complaint and supplemental affidavit are rebutted as follows. These rebuttals, which are based on the other documents that were presented in this examination, directly contradict the plaintiff’s allegations.
1. On January 28, 2014, the plaintiff purchased the loan from Bank of America, NA (paragraph 10,
Supplemental Affidavit).
Based on the documents that were presented in this examination, the holder of the note and
Mortgage as of January 28, 2014 was still Bank of America, NA, which was the transferee of the
loan from GSF Mortgage Corp., the originating lender. Bank of America, NA endorsed the note on
an unknown date and assigned the Mortgage to The Secretary of HUD on February 12, 2014.
2. Plaintiff is the holder of the note, mortgage and indebtedness since prior to the commencement
of this foreclosure action (paragraph N, Complaint and paragraph 7, Supplemental Affidavit; the
complaint was filed on January 21, 2015).
2.1. It could not be ascertained if the plaintiff is an endorsee of the note. This note was last
endorsed in blank on an unknown date by Bayview Acquisitions, LLC, apparently an affiliate
of the plaintiff.
On the other hand, the Mortgage was assigned to the plaintiff by The Secretary of HUD on
two occasions; the last on October 27, 2014. The plaintiff was never an assignee of the
Mortgage from Bank of America, NA. For its part, Bayview Acquisitions, LLC never executed
an assignment.
2.2. On December 18, 2014, or before the complaint was filed on January 21, 2015, the
plaintiff, even if at the time it was the last assignee of the Mortgage, informed the
borrower that the creditor on the loan was Mortgage Fund IVc Trust 2014-MLU1 effective
November 26, 2014.
2.3. On September 22, 2017, or before the Supplemental Affidavit was filed on July 18, 2018,
the plaintiff informed the borrower that the creditor on the loan was Mortgage Fund IVc
Trust 2017-RN4 effective August 30, 2017. This was reiterated by the plaintiff in its
response to the borrower’s Qualified Written Request dated December 20, 2017.
End of article
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