LOAN AUDIT AND MORTGAGE BACKED SECURITY ANALYSIS by benbenzhou

VIEWS: 7 PAGES: 10

									              LOAN AUDIT
                 AND
   MORTGAGE BACKED SECURITY ANALYSIS
                                               Borrower(s):

                          Luisa A. Checo and Ramon Checo



                                                Trustor(s):

     Luisa A. Checo a married woman married to Ramon Checo

Disclosure: You have engaged Peter Samuel Cugno – Cugno & Associates and to examine your real estate
documents. This information is not to be construed as legal advice or the practice of law, pursuant to Business
and Professions Code 6125 et seq, it is the intent of Peter Samuel Cugno – Cugno & Associates not to engage in
activities that could be considered the practice of law by conduct exhibiting any of the following practices: “the
performing of services in a court of justice in any matter depending therein throughout the various stages and in
conformity with the adopted rules of procedure. It includes legal advice and counsel and the preparation of legal
instruments and contracts by which the legal rights are secured although such matter may or may not be
depending in a court.”

                                                 Property:

                   1021 Hacienda Circle, Kissimmee FL 34746


                                                     APN:
                                   28-25-29-1387-0001-0260


Lot 26, of Estancia, according to the Plat thereof, as recorded in Plat Book
  15, at Page(s) 184 and 185, of the Public Records of Osceola County,
                                  Florida.

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                                Expert Mortgage Securitization Forensic Audits
                                       MORTGAGOR

                 BORROWER                                          CO-BORROWER
                 Luisa A. Checo                                       Ramon Checo

             CURRENT ADDRESS                                     PROPERTY ADDRESS

               1021 Hacienda Circle                              1021 Hacienda Circle
               Kissimmee FL 34746                                Kissimmee FL 34746




                           TRANSACTION PARTICIPANTS

                                   ORIGINAL MORTGAGE                     MORTGAGE
 MORTGAGE BROKER
                                        SERVICER                    NOMINEE/BENEFICIARY



       DHI Mortgage
                                  DHI Mortgage Company, LTD          DHI Mortgage Company, LTD.
   5850 TG Lee Blvd #140
                                        PO Box 911209                12357 Riata Trace Pkwy #C150
     Orlando, FL 32822
                                   Dallas, Texas 75391-1209              Austin, Texas 78727
      (Fee: $4,295.00)



 ORIGINAL MORTGAGE
                                   MORTGAGE TRUSTEE                 TITLE/ESCROW COMPANY
       LENDER

                                                                   Fidelity National Title Insurance
DHI Mortgage Company, LTD.                                                  Co of New York
12357 Riata Trace Pkwy #C150                N/A                         DHI Title of Florida, Inc.
     Austin, Texas 78727              (Mortgage State)                  5850 TG Lee Blvd #135
    (Loan No 105384310)                                                    Orlando, FL 32822
                                                                    (Title Policy No: 1482-108645)




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                           Expert Mortgage Securitization Forensic Audits
                                   SECURITIZATION PARTIES

        ORIGINATOR(S)                     SPONSER/SELLER                            DEPOSITOR


  Countrywide Home Loans, Inc. or                                                   CWALT, Inc.
   American Home Mortgage Corp.                                            is a limited purpose finance
                                    Countrywide Home Loans, Inc.
from correspondent lenders or other                                                subsidiary of
       third party originators                                          Countrywide Financial Corporation



       ISSUING ENTITY                          TRUSTEE                            ADMINSTRATOR


     CWALT, Inc. Alternative
       Loan Trust 2005-J14
                                          The Bank of New York                  As Determined by Trustee
    Mortgage Pass-Through
   Certificates, Series 2005-J14



     MASTER SERVICER                      UNDERWRITER(S)                             CUSTODIAN


                                         Countrywide Securities
    Countrywide Home Loans
                                             Corporation                             Not Provided
          Servicing LP




         SERVICER(S)                        CUT-OFF DATE                           CLOSING DATE




    Countrywide Home Loans              The close of business on                      On or about
          Servicing LP                     November 1, 2005                        November 30, 2005




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                               Expert Mortgage Securitization Forensic Audits
Documents Provided for Review:

1st   2nd
            Underwriting and Transmittal Summary (Form 1008)
X           Loan Application (Form 1003)
            Loan Commitment Letter
X           Deed of Trust/Mortgage (with Riders and/or attachments)
X           Note (with Addendums and/or attachments)
            Good Faith Estimate
X           Truth in Lending Disclosure Statement/ FINAL
            (3-Day) Notice of Right to Cancel
            HUD-1 (or HUD-1A) Settlement Statement/ FINAL Total Amount $99,160.85
X
            Cash paid to Close
X           Appraisal Report – Dated June 7, 2005 $317,500
            RESPA Servicing Disclosure
            Hazard Insurance Disclosure
            Credit score Disclosure
            Lender’s Closing Instructions
X           Affiliated Business Arrangement Disclosure
            I/O and/or Negative Amortization Disclosure
            ARM Disclosure




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                           Expert Mortgage Securitization Forensic Audits
                                  TRANSACTION SUMMARY
Consumer:       Luisa A. Checo and Ramon Checo
Address:        1021 Hacienda Circle, Kissimmee FL 34746
DOB(s):         Luisa: 10/02/1946 – Ramon: 10/3/1954
SSN(s):         Luisa: xxx-xx-5017 – Ramon: xxx-xx-3890
Employment:     Ramon: Owner Luisa's Family Daycare 5 yrs - shows Zero Income

Property:       1021 Hacienda Circle, Kissimmee FL 34746
GPS:            28.2770481109619 -81.4106369018555
Legal Des:      Lot 26, of Estancia, according to the Plat thereof, as recorded in Plat Book 15, at
                Page(s) 184 and 185, of the Public Records of Osceola County, Florida.
Acquired:       August 31, 2005 records Warranty Deed Document #: BK-PG 2925-1695

Lender:         DHI Mortgage Company, LTD.
Doc Date:       August 31, 2005
Loan#:          105384310
MERS#:          N/A
Amount:         $ 214,000.00
Purpose:        Purchase for $316,700.00 ($99,160.85 cash paid to close - per HUD-1)
Rate:           6.125%
1st Payment:    October 1, 2005
Type:           Fixed - 30 Yr Conventional Jumbo
Margin/Caps:    N/A
Payments:       $ 1,300.29
Term:           360 Months
Prepayment:     No Prepayment Penalty
Property Val:   $317,500.00 Appraised June 7, 2005
LTV/CLTV:       68%
Servicer:       DHI Mortgage Company, LTD.




                                                                                                 Page 5
                              Expert Mortgage Securitization Forensic Audits
                          AUDIT NARRATIVE AND FINDINGS

The loan reviewed for this audit is dated August 31, 2005 for $214,000.00. It is a Purchase type
transaction on an owner occupied single family residence one block from Lake Tohopekaliga in
Kissimmee, Florida. The original Lender and Servicer is DHI Mortgage Company, LTD.

August 31, 2005 records (Purchase) WARRANTY DEED Document #: BK-PG 2925-1695, Price:
$316,700, Buyer: Checo Luisa A, Abbreviated Description: ESTANCIA PB 15 PGS 184-185 Lot 26.

August 31, 2005 dated MORTGAGE records 10/10/2005 18:09:48 CL2005222806 OR2925/1697
Public Records of Osceola County, Florida, Clerk of the Circuit Court, Luisa A. Checo, a married
woman married to Ramon Checo, $214,000.00, maturity 09/01/2035, 1021 Hacienda Circle
Kissimmee FL 34746, with PUD Rider.

May 3, 2006 Records REVOLVING CREDIT LINE MORTGAGE Document #: 2006119333 BK-PG
3146-0615, Loan Amount: $98,000, Lender: Citibank FSB, Borrowers: Checo, Roman; Checo, Luisa,
APN: 28-25-29-1387-0001-0260.

January 09, 2009 Countrywide Home Loans/servicer (PO Box 5170 Simi Valley, CA 93062-5170
Loan No 105384310) issues MONTHLY MORTGAGE STATEMENT 30 Yr Conventional Jumbo,
Rate 6.125%, Balance: $204,795.84, due 02/01/2009 $1,796.19 (document in Spanish No Habla).

July 1, 2009 Bank of America Home Loans Servicing, LP Pittsburg, PA Home Retention Division
(Loan No 105384310) sends Borrowers MOD Approval, Balance $08,184.59, New Monthly Payment
$1,763.10 with Agreement to be signed by both parties.

July 7, 2009 Bank of America Home Loans Servicing, LP Pittsburg, PA Home Retention Division
(Loan No 105384310) writes Borrowers to CONFIRM BORROWERS DECLINED MOD Offering.

December 6, 2011 dated COMPLAINT TO FORCLOSE MORTGAGE Case No: CI-11-MF-4536
issued by Plaintiff's Lawyers In the Circuit Court of the Ninth Judicial Circuit in and for Osceola
County, Florida in Re: The Bank of New York Mellon fka The Bank of New York, as Trustee for the
Certificateholders of CWALT, Inc. Alternative Loan Trust 2005-J14, Mortgage Pass-Through
Certificates, Series 2005-J14 v. Luisa A. Checo et al ... says the original Mortgage was recorded
October 10, 2005 and was 'lastly assigned' (to the Plaintiff) in Book 04143, Page 2944 Public Records
of Osceola County, Florida, (NO DATE), loans in Default 06/01/2009 and thereafter, Borrower owes
$203,768.09. Complaint Verification by (sig) Edwina Hothin, AVP Bank of America NA, successor
by merger to BAC Home Loans Servicing LP, as servicing agent for Plaintiff (no, the Mortgage was
never assigned/transferred/sold to this trust via the traditional method of a publically recorded
Assignment of Mortgage as this lawyer claims, also the lawyer proved our position for us. The copy of
the “wet-ink” Note his Client has, reveals No Sale/Assignment Endorsement into this Trust either!
Without reservation, this Timeline entry conclusively verifies this securitization has absolutely No
Standing to foreclosure on this Mortgage loan – THIS IS THE SMOKING GUN).

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                            Expert Mortgage Securitization Forensic Audits
December 20, 2011 dated LIS PENDENS records 12/27/2011 Document #: 2011179005 BK-PG
04213-0312, Case No: CI-11-MF-4536 in the Circuit Court of the Ninth Judicial Circuit in and for
Osceola County, Florida in Re: Case No 11 CD 4536MF The Bank of New York Mellon fka The
Bank of New York, as Trustee for the Certificateholders of CWALT, Inc. Alternative Loan Trust
2005-J14, Mortgage Pass-Through Certificates, Series 2005-J14 v. Luisa A. Checo et al, issued by
Plaintiff's Lawyers (totally Invalid as this Plaintiff has no ownership interest in this Mortgage).

February 23, 2012 Bank of America Home Loans Servicing, LP (Van Nuys, CA - Loan No
105384310) RESPONDS to QWR from Borrower by attaching copies of several requested documents.

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                            Expert Mortgage Securitization Forensic Audits
                               SUMMARY AND CONCLUSION
In preparation for this narrative summary, we have thoroughly reviewed the documentation submitted
for examination. Above is the verified timeline that applies to this Loan. In addition, information from
other sources has been researched and included as deemed appropriate. In most cases it is assumed
that the purpose of the Borrowers engagement of our review is to determine whether a potential
foreclosing party has legal standing to sell the property; and, if not, whether information ascertained in
conjunction with this audit might assist in either 1) further delay and/or 2) prevent outright the
foreclosure of the property which is the case here. Stopping this one should be a slam-dunk (see the
December 6, 2011 entry immediately above in the Timeline).

It should be noted that the primary document for review in an audit is the Promissory Note. We have
examined two (2) signed copies of the Note for this transaction; the Client presented version showed a
Sale/Assignment Endorsement ‘Pay To The Order of Countrywide Bank, NA Without Recourse DHI
Mortgage Company LTD by: (sig) DHI Mortgage Company, GP, Inc. It’s General Partner" As a
result, it suggests at minimum the Note was sold to Countrywide Bank, NA by the Original Lender
(DHI Mortgage Company, LTD.), yet there was No Endorsement from Countrywide Bank, NA and
into the alleged Securitization, as there must be to lawfully sell the Note. The second copy we
examined was a part of the initial Mortgage Foreclosure Complaint as supplied by the securitization’s
lawyers to the Court. That version more than likely is a fresh copy of the actual ‘wet-ink’ note as it
now appears inside the files of the subject Securitization – and it does not show a Sale/Assignment
Endorsement into the Securitization.

Based upon all available information we’ve researched and what is contained in this Borrower’s file;
our conclusive findings are on point. This securitization, ‘The Bank of New York Mellon fka The
Bank of New York, as Trustee for the Certificateholders of CWALT, Inc. Alternative Loan Trust
2005-J14, Mortgage Pass-Through Certificates, Series 2005-J14’ has No Standing to proceed with
Foreclosure on the subject real property, nor do they have any ownership whatsoever, in the Mortgage
or the Note for his loan.

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                                                                                                Page 8
                              Expert Mortgage Securitization Forensic Audits
                               Certification of the Auditor

I certify that I have completed this audit based on documents provided to me and independent research
and verification of public records. My conclusions are based on a 4+ decade residential real estate
mortgage industry career. As a 'Certified Mortgage Professional' mortgage broker/banker consultant,
industry advocate, mentor, owner/operator and Senior Executive; I am now performing Forensic
Securitization Mortgage Loan Audits. This past decade I spent time building and growing the presence
of the Secret! University educational & training division of Americas MoneyCenter, Inc. An online
mortgage broker/banker teaching and training center. I became a Certified Instructor # COAFS-04-
374620, approved under the California Education Code Section 94915 Bureau for Private
Postsecondary and Vocational Education specifically teaching the entire Mortgage Process, having a
real-world historical eye witness prospective. With a heavy compliance focused background,
uncovering deviations from acceptable practices is obvious to me. In the past my company has been a
direct Freddie Mac Seller/servicer (#0008973) and had its own FHA 'Eagle' as well (#50334), I have
been in the industry since before RESPA was enacted, longer than Freddie Mac, and before Fannie
Mae started doing conventional lending!

Cugno & Associates

Peter Samuel Cugno
(Week of July 9, 2012)




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                            Expert Mortgage Securitization Forensic Audits
EXHIBITS
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 Expert Mortgage Securitization Forensic Audits

								
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