Deutsche Bank Foreclosures: Lawyers Fight Back

"Some time ago I wrote about Deutsche Bank's illegal practice of purchasing defaulting mortgages and transferring them to securitized trusts.  Why would a bank want to acquire a mortgage that is about to implode?  Jeff Barnes, Esq., an attorney who represents homeowners in foreclosure actions, has an excellent explanation on his blog Foreclosure Defense:

We suspect that we know why Deutsche Bank is doing this. Deutsche Bank wants to take advantage of the insurances and credit enhancements inside of the trust (such as excess interest reserves, overcollateralization reserves, NIMS or other insurance policies which were written by among others…guess who…AIG!) which cover losses on the mortgage loans

Deutsche Bank is playing the numbers game. Assuming even for the sake of a hypothetical that of the 10 million new foreclosure which will be filed starting April 1, 2010, if Deutsche Bank files 1milllion (10%) of them, how many borrowers will actually challenge the foreclosure? Less than one per cent? Less than 1/2 or 1/4 of one percent? Probably less, which means that when Deutsche Bank counts the beans, a few “rotten” beans in the pile (those being the foreclosures which are challenged or beaten) will be regarded as nothing more than a small and insignificant “cost of doing business” when viewed against the millions of foreclosures which will be railroaded through unchallenged"

So, Deutsche Bank is "banking" on the assumption that the majority of borrowers are too intimidated, fearful, or ignorant to fight the foreclosure proceedings and will simply hand the keys over to DB. This is really a pity, since some lawyers are having success in fighting back.  One lawyer in Florida has posted this Brief against Detusche Bank which can serve as a blueprint for any mortgage the bank has acquired from MERS. These fighting lawyers are having considerable success in the courts:  

"Speaking of Deutsche Bank, a Cleveland Federal Judge dismissed ALL foreclosures filed by Deutsche Bank within that judicial district, this having been done contemporaneously with the filing of a class-action lawsuit against Deutsche Bank for wrongfully seeking to foreclose without owing the mortgage loan when the foreclosure was initiated (read: lack of standing). As our readers know, Ohio was one of the first jurisdictions to rail against foreclosures initiated without legal standing when Judge Boyko dismissed some 22 foreclosures simultaneously and wrote a very scholarly opinion justifying the dismissal. It appears that the Judiciary are realizing the extent of the fraudulent foreclosures being initiated and are doing something about it."

Comments

[jelani]

how this plays out will be very interesting. Good post

[Mary]

I am interested in the class action suit against Duetsche Bank. My home was foreclosed on them in California and they appeared nowhere until the nod was filed, America's servicing company was the one contacting me for payments and then first american loan trustees were also listed on the foreclosure paperwork. The loan was completed by Fremont not any of these companies. I believe they also used the robodoc signing and there are errors in the foreclosure since I filed bankruptcy and they foreclosed without issuing a new notice of sale.

[bill]

can any one help me duetsche bank foreclosure on my home wrongful/improper and i would like to suit

[mara]

I had a foreclosure trial in florida and I'm a pro se in this case because I can not affod to obtained the service of an attorney. I have been fighting this case since 2008 and on 2010 on my own. My case was set for a non jury trial 6/25/2011 at 1:30 pm. I have prepared my case against the Plaintiff Deutsche Bank Trustee, the indenture for American Home Mortgage Investment Trust 2007-1. This trust was the trust who i received a compliant on 2008. I have done research with the security exchange commission and got a certify copy of the Pooling and Servicing Agreement of the indenture deutsche bank trustee for AMERICAN HOME MORTGAGE INVESTMENT TRUST 2007-1 and my loan was not in the trust.

At the trial my name was called and the Plaintiff mentioned to the Judge (after 3 years being sue by AMERICAN HOME MORTGAGE INVESTMENT TRUST 2007-1) there was a scruvenir error in the trust name which now is AMERICAN HOME MORTGAGE ASSET TRUST 2007-1 how can this have happen, just because they knew i had the evidence and prove the loan was not in the trust since i needed to sent them a copy of my exhibits to be use in the trial and they saw that the loan was not in the trust AMERICAN HOME MORTGAGE INVESTMENT TRUST 2007-1. There is also forgery, fraud upon the court, robosigners, all my exhibits were objected by the Plaintiff and subtained by the judge. there was objection on almost all my arguments again the judge subtained. I have a Forencis Handwritting Report also it was objected and subtained by the judge. The assignment of mortgage was objected by the Plaintiff they said it was not needed because they have the note. They are not the party in the mortgage or note. They knew that these assignment of mortgage were fraudulent created by DOCX and signed by robosigners . The judge again subtained. How was it possible to prove my case?. I guess i needed a lawyer. I felt the lions where all trying to take my house illegally without standing, and this is what happen the judge granted summary judgment. When there is genuine issues of material facts in a case, summary judgment must be denied. Nobody wanted to hear my voice. I need someone to help me save my house to make an appeal and sue the bank for committing fraud, forgery, misrepresenting against me and violating the FDCPA. i guess I can not request fraud upon the court because the judge did not think so. All of them came out of the courtroom laughing. Please help.

Mara

[John W. Sawyer III]

I likely shall be fighting D. Bank in foreclosure, pro se, in Dade County. While I have considerable court experience in civil, criminal, and appellate cases, Foreclosures is a new field for me, and I know how corrupt judges can be - especially against pro se defendants - especially in uber-corrupt Dade County. In what Court jurisdiction was your case 'heard?'

[Tom corbia]

Going to court in N.Y. next week

[RR]

Mara I too have had the same experience in a Florida court. No assignment of the mortgage, alteration of the purported original promissory note, alteration of my signature(s), wrong dates on certain documents, hand written alterations, and the list goes on. The judge in my case did not care about any material facts, his job is to issue summary judgment, as per the comment made by the opposing counsel in my case. Therefore, I am interested in a class action lawsuit against Deustche Bank and Saxon Mortgage as well as NovaStar.

[mortgage foreclosure]

I am going to face some big guys in NY soon

[Slvia]

This is why I want to return the law degree that I earned. It's BULLSHIT. Corruption rules, there is no law.

I lost to Deutsche Bank too. Summary judgment in an unlawful detainer court while quiet title PENDING in state court. No one acknowledged the motion to consolidate either.

System is corrupt period!

[Jacqueline Estrella]

I am facing these guys after my lawyer bailed. My zoom trial was nothing more than overpaid lawyers using vague and verbose arguments claiming jurisprudence while ignoring the OBVIOUS evidence of document tampering, robosigning with servicers trying to justify frivolous fees from other servicers who did the same. Looking for help in trying to fight pro se or an attorney who is not in the good ol boys club.