OCWEN'S ADMITTANCE OF LACK OF STANDING BEFORE OUR … · 2016. 7. 19. · assignments are needed. However, once an account is transferre MERSd out o, f the assignments are completed

OCWEN'S ADMITTANCE OF L A C K OF STANDING BEFORE OUR CAUSE WAS F I L E D

Case 2:13-cv-00243-WCO Document 117-1 Filed 03/27/15 Page 1 of 41

CB

Ocwen Loan Sen'icing, LLC PO Box 785061

Orlando FL 32878-5061 HELPING HOMEOWNERS IS WHAT WE DO!

O C W E N

March 11,2015

Cobrey Bennett 965 Summerfield Dr Gumming GA 30040

RE: Ocwen Account Number: 7095422684 Property Address: 965 Summerfield Dr

Dear Cobrey Bennett:

On behalf of Ocwen Loan Servicing, LLC (Ocwen), the Office ofthe Consumer Ombudsman would like to thank you for your correspondence dated February 24, 2015, and received on February 25, 2015, which was labeled as a Qualified Written Request. The Consumer Ombudsman's office was created to provide a resource to assist with unresolved concerns and issues.

Our previous response dated May 24, 2013 provided you with the information relating to the servicing of the account, as the law, specifically the Real Estate Settlement Practices Act ("RESPA"), requires. A copy of our May 24, 2013 response without all ofthe enclosures is enclosed. I f you require additional copies of the loan documents already provided with the May 24, 2013 response, please contact our office to advise what specific documents are required.

The May 24, 2013 response incorrectly stated the loan originated with RPM Mortgage, Inc. As per the enclosed copy ofthe Note, the loan originated with Mortgage Services I I I , LLC.

As of the date of this letter, the account is past due for the August 1, 2013 through March 1, 2015 payments.

In an effort to be responsive to your most recent request, an updated copy of the payment history, a copy of the Note and Allonges, Recorded Mortgage and Recorded Assignments are enclosed. As advised in the prior response, the account was registered with Mortgage Electronic Registration Systems, Inc. (MERS). As long as an account is registered with MERS, no assignments are needed. However, once an account is transferred out of MERS, the assignments are completed and recorded.

In response to your inquiry regarding the change in the account number, Ocwen converted servicing systems effective October I , 2014. As the prior account number of 7123000874 already existed in the system, a new account number was assigned to your loan (7095422684). This did not change any of the terms or conditions of the loan. It was merely a change in the identification number associated with the loan.

Gumming GA 30040


i-eoruary / d , / u i o , wnicn was laoeiea as a iûaniiea wrmen Kequesi. ine consumer Ombudsman's office was created to provide a resource to assist with unresolved concems and issues.

Our previous response dated May 24, 2013 provided you with the information relating to the 'nw, specifically the Real Estate Settlement Practices Act our May 24, 2013 response without all of the enclosures

servicmg o ("RESPA" enclosed. ! 24. 2013 ref

The May 2 per the enc

As of the di payments.

In an effort a copy of t! As advised Reg i strati 0 assignmenl are comple

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Sticky Note

This statement right here more than proves that Ocwen had no standing when we filed our cause. The only assignments Ocwen has were filed after 10/13 we filed suit in 09/13 standing at

al copies of the loan documents already provided with th t our office to advise what specific documents are requirt

rrectly stated the loan originated with RPM Mortgage, In , the loan originated with Mortgage Services I I I , LLC.

Iccount is past due for the August 1,2013 through March

3ur most recent request, an updated copy of the payment Recorded Mortgage and Recorded Assignments are enc the account was registered with Mortgage Electronic S). As long as an account is registered with MERS, no

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Sticky Note

We called RPM and have the phone call

as proof that the

GSR told me that RPM can not

conduct business in the State of GA.

This is further

proof of doctored

numbers and

er, once an account is transferred out of MERS, the assignments

'ding the change in the account number, Ocwen converted In responsd lu your luqiiiiy iCa»>v....fc, servicing systems effective October 1,2014. As the prior account number of 7123000874 already existed in the system, a new account number was assigned to yojn-inQn r7nQ^^'??fi«^^ ThW HiH not change any of the terms or conditions of the loan. It was mq number associated with the loan.

RAD PDF

Sticky Note 3/20,

We have proof that this account change listei records, it was dated f r o m 8/13 and we rece'w

October. Ocwen got in trouble fo r sending o(

information to millions of its customers us im


ITEMIZATION OF AMOUNT FINANCED


ITEMIZATION OF AMOUNT FINANCED BENNETT Loan ft D C 1 2 05 0 1 2 2

Date: NOVEMBER 19 , 2012 M I N : 1 0 0 5 8 8 3 1 2 0 6 0 5 3 5 7 3 6

Lender: MORTGAGE SERVICES I I I , LLC

Borrower(s): COBREY BENNETT SR.

Property Address: 965 SUMMERFIELD DR, CTIMMING, GA 3 0040

Loan Amount: $284,900.00

Prepaid Finance Charge (itemized below): 2 S6,799.80

Amount Financed: $278,100.20

Itemization of Prepaid Finance Charge

Paid by S» Seller L * Lender K* Broker R* Branch O* Other

RAD PDF Sticky Note Paid by S» Seller L * Lender K* Broker R* Branch O* Other

RAD PDF Sticky Note

It Paid thers

Finance Charges Paid By Borrower

Flood certification MSI FOR CORELOGIC

RAD PDF Sticky Note

$22.00

MERS FEE to MORTGAGE SERVICES I I I , LLC Here Selene, clainns our total to payoff the lien on the first loan as $325, 206. Take into account that this was done in 2012, the loan was intiaily taken out in 2006, the 10/10/12 statement f rom Selene, stated our current principal balance was $252, 894.96 and after the forbearance our

$11.95

tINDERWRITING FEE tOMORTGAGE SERVICES I I I , LLC

Here Selene, clainns our total to payoff the lien on the first loan as $325, 206. Take into account that this was done in 2012, the loan was intiaily taken out in 2006, the 10/10/12 statement f rom Selene, stated our current principal balance was $252, 894.96 and after the forbearance our

1 $400.00 PROCESSING FEE to MORTGAGE SERVICES I I I , LLC


$300.00

Daily interest charges from 11/26/12 to 12/01/12 5 @ $33.17 / day


$165.85

UPFRONT MIP to FHA


$4,900.00 Settlement or closing fee FIRST TITLE AND ESCROW


$1,000.00

Total Prepaid Finance Charge


$6,799.80

Amount Paid on Your Account/Amoun


Paid by S* Seller L * Lender K.* Broker R* Branch 0* Other


Paid by S* Seller L * Lender K.* Broker R* Branch 0* Other


U Paid thers

Other Charges Paid By Borrower

Appraisal fee to IN HOUSE


$475.00 Credit report to CBC

Here Selene, clainns our total to payoff the lien on the first loan as $325, 206. Take into account that this was done in 2012, the loan was intiaily taken out in 2006, the 10/10/12 statement f rom Selene, stated our current principal balance was $252, 894.96 and after the forbearance our $70.85

MTG BROKER COMP PAID BY LENDER to Homeowner's insurance for vears to ALLSTATE INSURANCE-HOME $1,542.00


Other (before complctini!, see the notice in "deiscribc otiier income," below)

-568.00 -568.00 Homeowner Assn. Dues 69.58 59.58 Other (before complctini!, see the notice in "deiscribc otiier income," below) 0.00 Other:

Total S 7,851.00 S 0.00 S 7,851.00 Total S 2,069.11 S 2,082.89

Self Employed Borroneits) may be required to provide additional documentation such us tax returns and financial statements.

Describe Other Income !\'otice: Alimony, child support, orseiianite maintenance income need not be revealed if the Borrower (IJ)

or Co-Born»ver (C) docs not choose to have it considered for repayinyt this loan.

B/C Monthly Amount

B U R E I M B U R S E D E X P E N S E S S-568.00

VI. ASSETS .WV LUBILITIES This Statement and any applicable supporting schedules may be completed jointly by both married and umnarried Co-Borro%vers if their assets and liabilities are sufficiently joined so that tlie Statement can bcmeaningrullyand fairly presented on a combined basis; otherwise, separate Statements and Schedules arc required. Ifthe Co-Borrower section was completed about a uon-applicant spouse or

Other person, tliis Slatemeni and supportitij: schedules must be completed about lhat spouse or oiher person also. Completed Jointly A Kol Jointly

ASSETS

Description Cash or

Market Value

L).ibiJities and Pledged .\sscts. List the creditor's name, address, and account number for all outslaiiding debls. including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by C ) those liabilities, which will be saUsfied upon sale of real estate owned or upon refinancing

of the subject properly. Cash deposit toward purchase held by; S

L).ibiJities and Pledged .\sscts. List the creditor's name, address, and account number for all outslaiiding debls. including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by C ) those liabilities, which will be saUsfied upon sale of real estate owned or upon refinancing

of the subject properly. Cash deposit toward purchase held by; S

L I A B I L I T I E S

Monthly Payment &

Months Left to Pay Unpaid Balance List checking and savings accounts bekrw L I A B I L I T I E S

Monthly Payment &

Months Left to Pay Unpaid Balance Name and ad dress of Bank. S&L. or Credit Union

RAD PDF Stick/ Note

Name and address of Company A L L Y P 0 BOX 380901 BLOOMINGTON, MN 55438-

S Paymcnt'Monlhs

499.00

0

S 29,023.00

Acct. no. Here Selene states our unpaid balance is $325, 206 and our monthly payment was $2,010.07. This was written up in 11/12. In the 10/12 statement our current principal was listed as $252, 894.96.

Acct. no. 340917947172

S Paymcnt'Monlhs

499.00

0

S 29,023.00

Kapif and ad

q Here Selene states our unpaid balance is $325, 206 and our monthly payment was $2,010.07. This was written up in 11/12. In the 10/12 statement our current principal was listed as $252, 894.96.

Name and addrcia of Company S E L E N E FINANCE

S Pavmcnl'Monllis 2.010.07

0

S 325,206.00 '

Acct. no.

Here Selene states our unpaid balance is $325, 206 and our monthly payment was $2,010.07. This was written up in 11/12. In the 10/12 statement our current principal was listed as $252, 894.96.

Acct no.

S Pavmcnl'Monllis 2.010.07

0

S 325,206.00 '

N'iune and ad

Here Selene states our unpaid balance is $325, 206 and our monthly payment was $2,010.07. This was written up in 11/12. In the 10/12 statement our current principal was listed as $252, 894.96.

Kameand address of Company UNITED GUARANTY/WELLS G A R G O

S Payment̂ Months

7,663.00

0

S 7,663.00 *

1

S Payment̂ Months

7,663.00

0

S 7,663.00 *


DC120S0122

L. Settlement Charges J . . . . . . . . ^ . . ,̂ f •• 1 : 1

700. Total Real Estate Broker Fees $ RAD PDF Sticky Note

Paid From Borrower's Funds at

Qf.ttlf*mPTit • •

Paid From ..: Seller's ;

^ jipimds at!;(|v:j;.;] *!letrlempiit

; Division of cotrnnission (line 700) as foUows: RAD PDF Sticky Note





701. S to

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703- Commission paid at settlement The interest for this refi was listed here as $165.00

704.

The interest for this refi was listed here as $165.00

SOOi Jtems Payable in Connection with Loan

The interest for this refi was listed here as $165.00 801.. Our origination charge S 711.9 5


802. Your credit or charge (points) for the . S 0.0 0 specific interest rate chosen


803. Your adjusted origination charges (irom<j^JiA) S711.95 804. Appraisal fee to IN HOUSE (from GFE #3) $475.00 805. Credit report to C3C (from QFE #3) $70.85 806. Tax service to (from GFE #3) 807. Flood certification KSl FOR CORELOGIC (from GFE #3) $22.00

iSOO. Items Required by Lender to Be Paid in Advance 901. Daily interest charges from 11/26/12 to 12/01/12 5 (fromGFE#!0) <@S33.17/dav

$165.85

902. UPFRONT MIP to FHS. (from GFE #3) $4,900-00 903. Homeowner's insurance for years to ALLSTATE (fromGFE#ll} INSTJRAKCE-HOME OFFICE

$1 ,542.00

904.

Pi

iJOOOJReserresDeposited with Lehdier i ^ ^̂r̂^̂^̂^ ^ v •: 1001. Initial deposit for your escrow account (from GFE #9) 51,001.69 1002. Homeowner's insurance 3 months @ S128 .SOpermonfh S385.50 1003. Mortgage insurance 0 months @ $277 .85 per month S 1004. Property taxes 4 months @S2 05.42 per month S821.68 1005. months @ S per month S 1006, . months @ S per month S 1007. montiis @ S per month S 1008, months @ S per month S 1009: months @ S per month S 1010. months (a), % per month S 1011. Tnorith.<; (ai S per month S


Total Prepaid Finance Charge $6,799.80

Amount Paid on Your Account/Amount Paid to Others on Your Behalf

Paid Outside Paid by S* Seller L * Lender K* Broker R* Branch 0* Other ofClosin"

Amount Paid Bv Others

Other Charges Paid By Borrower

Appraisal fee to IN HOUSE $475.00 Credit report to CBC $70.85 MTG BROKER COMP PAID BY LENDER to Homeowner's insurance for vears to ALLSTATE INSURANCE-HOME OFFICE

$1,542.00

Homeowner's Insurance 3 months @ $128.50 per month $385.50

Mortgage Insurance 0 months @ $277.85 per month Property Taxes 4 months @ $205.42 per month $821.68

Aggregate Adjustment $-205.49 Deed $ Mortsase £ Releases $ $70.00

City/County tax/stamps Deed S Mortgage S $837.00

Payoffs/Otlier Disbursements

WELLS FARGO $3,734.00 UNITED GUARANTY/WELLS GARGO RAD PDF

Sticky Note

$7,663.00 SELENE FINANCE

RAD PDF

Sticky Note $325,206.00

Total Payoffs/Other Disbursements

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Sticky Note

$336,603.00 Total Payoffs/Other Disbursements Here Selene, claims our

total to payoff the lien

on the first loan as

$325, 206. Take into

account that this was

done in 2012, the loan

was intiaily taken out in

2006, the 10/10/12

statement f rom Selene,

stated our current

principal balance was

$252, 894.96 and after ^

$336,603.00

MARYAM BENNETT - DATE -

Here Selene, claims our

total to payoff the lien

on the first loan as

$325, 206. Take into

account that this was

done in 2012, the loan

was intiaily taken out in

2006, the 10/10/12

statement f rom Selene,

stated our current

principal balance was

$252, 894.96 and after ^


PAYOFF STATEMENT FROM SELENE


PAYOFF STATEMENT

Novetaber 13, 2012

Selene Finance Lp 9990 Richmond, Suite 400 Sc

Houston, TX 77042

TO: L o r i a Branch/Msi Fax 240-215-3616

RE: Cobrey Bennett Sr

965 Summerfield Dr Cumming GA 30040

Loan Fo: 0000050443 Loan Type: Conventional

*************************************** *• ONLY CERTIFIED FUllDS WILL BB ACCEPTE ***************************************

These figvires are due to November 30, 203J November 01, 2012 payment. The current t o t a l unpaid P r i n c i p a l Balancj I n t e r e s t Due:

I n t e r e s t a t 0,00000% (2nd Mtg) Suspense Balance Unpaid Late Charges Payoff Quote Pee Recording Fee Payoff Update Fee Payoff Pax Fee 0/S Foreclosure Fees Votti Pee Corporate Advance(s) Balance

(2nd Mtg) Recording Fee (2nd Mtg)

Property Address: 9 55 Summerfield Dr Cumitiing GA 3 0040

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Sticiqr Note

This payoff statement was given one month and 3 days after the October statement f rom Selene that stated our current principal balance was $252, 894.96 and the interest $1651.28 and the daily interest rate was listed as $33.17 and the total on the^

*********** PWK BELOW * *********.**

life f o r the

323,652. 2,460,

-553 660

12.

768

12

13 63

.00

.52

.48

.0,0 00 00 00 00 00 25 00 00


RE: Property Address: Cobrey Beroaett Sr 365 Summerfield Dr

Curaraing GA 30040 365 Summerfield Dr Cumming GA 30040

Loaji No: 0000050443 Loan Type; Conventional

********** ************************************************************ *• ONLY CERTIFIED FIMDS WILL BE ACCEPTED FOR THE PAYOFF SHOWN BELOW * **********************************************************************

These f i g u r e s are due to November 30, 2012 and the loan i s due f o r the November 01, 2012 payment. The CTJirrent t o t a l unpaid P r i n c i p a l Bala^ I n t e r e s t Due:

I n t e r e s t a t 0.00000' Suspense Balance Unpaid Late Charges Payoff Quote Pee Recording Fee Payoff Update Fee Payoff Pax Fee O/S Foreclosure Fees Vom Fee Corporate Advance(s)

(2nd Mtg)

Recording Fee Payoff Update Fee

O/S Foreclosure Fees Vom Fee * * * * TOTAL AMOUNT

Balance (2nd Mtg) (2nd Mtg) (2nd Mtg) (2nd Mtg) (2nd Mtg) (2nd Mtg)

TO PAY LOAN IN. Fxrni

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This payoff statement was given one month and 3 days after the October statement f rom Selene that stated our current principal balance was $252, 894.96 and the interest $1651.28 and the daily interest rate was listed as $33.17 and the total on the-

323,662.13 2,460,63

.00 -653.52 660.48

. 0,0 12.00

.00

.00

.00

.00 768.25

.00 12.00

.00

.00

.00

.00 326,921.97

îOLA v/iij. require an add i t i o n a l Funds received on or a f t e r November 30, $ 41.38 i n t e r e s t per Day. Funds received on or a f t e r November 30, 2 012 w i l l require an additional $-00 i n t e r e s t per Day f o r the second mortgage.


SECREATARY OF STATE CERTIFICATE OF WITHDRAWAL RPM MORTGAGE


Control No. 08008382

STATE OF GEORGIA Secretary of State

Corporations Division 315 West Tower

#2 Martin Luther King, Jr. Dr. Atlanta, Georgia 30334-1530

1, Karen C Handel, the Secretary of State and the Corporations Commissioner of the State of Georgia, hereby certify under the seal of my office that

formed under the laws of California and authorized to transact business in Georgia on 01/29/2008, has been duly dissolved, cancelled or withdrawn on 04/24/2008 under the laws ofthe State of Georgia by the filing of documents in the office of the Secretary of State and by the paying of fees as required by the Official Code of Georgia Annotated and the Rules and Regulations promulgated there under. Attached hereto is a true and correct copy of said application.

WITNESS my hand and official seal in the City of Atlanta and the State of Georgia on April 24, 2008

CERTIFICATE OF

WITHDRAWAL

R P M M O R T G A G E , INC. a Foreign Profit Corporation

Karen C Handel Secretary of State


April 2 1 , 2008

M O R T G A G E

Georgia Secretary of State

Corporations Division

315 West Tower, # 2 (vjartin Luther King Jr. Drive

Atlanta, GA 30334-1530

RE: Application For Withdrawal of Certificate of Authority

RPM Mortgage, Inc.

To Whom I t May Concern:

Please find the attached documents for RPM Mortgage, Inc.'s application for

withdrawal of certificate of authority.

1) Application for Withdrawal of Certificate of Authority

2) $20.00 Checl<

Please mail the Certificate of Withdrawal to my attention at 1677 Eureka Road

# 2 0 1 , Roseville, CA 95661. Thank you and feel free to contact me with any

questions.

Linda Lau

Compliance

Linda Lau

1677 Eureka Rd #201 • Roseville, CA 95661 • 916-960-4176 • llau@rpm-

mortgage.com • www.rpm-mortgage.com


CATHY COX Secretary of Slate

OFFICE OF SECRETARY OF STATE CORPORATIONS DIVISION

315 Wes\ Tower, «2 Martin Lulher King, Jr. Drive Allanla, Georgia 30334-1530

(404)656-2817 Reglslered agent, oflicer, enlity slalus Informalion via the Inlemel

www.georglacorporallons.org

Control No: 08008382 Date Filed: 04/24/2008 12:00 AM

Karen C Handel Secretary of State

ENRICO M. ROBINSON Director

SUSAN GOLDEN Assistant Director

1. Organization type (check only one): 0 Corporation D Limited Liability Company • Limited Partnership • Liability Limited Partnership

RPM Mortgage, Inc.

Application for Withdrawal of Certificate of Authority|||| | p ^ fl|f |0I | f

; , H R | W Of mpommm Qimmh

2. Entity name.

3. Home state (state in which entity was formed) CA

4. The entity selected above in item 1. and named in Item 2. no longer transacts business In Georgia and surrenders its certificate of authority. _ — - .

The entity revokes the authority of its registered agent to accept service of process on its behalf and appoints the Georgia Secretary of State as its agent for service in any proceeding based on a cause of action that arose during the time it was authorized to transact business in Georgia.

Any process served on the entity after withdrawal from Georgia may be mailed to:

RPM Mortgage, Inc.

2175 N. California Blvd #1000

Walnut Creek, CA 94596

7. The withdrawing entity provided in iteiji

8.

lits lhant will notify the Secretary of State of any change in the mailing address

Erwin Robert Hirt, CEO/ President

'̂ iScati

Title of person signing abov^

Printed or typed name of signer

rie one tillkbesWe Ihe entily type below lhat matches the entity type checked In Item 1.);

Coroofatfon- Officer: Afibrnev for corp; Incorporator; Receiver or trustee LLC- Member; Manager; Attorney for LLC; Organizer; Receiver or trustee LP- General partner; Attorney for LP; Receiver or trustee LLP- General partner; Attorney for LLP; Receiver or trustee

All annual registrations must be filed before an entity may withdraw. Entity status may be checked at web address above. If entity status is "active/noncompliance," annual registration must be submitted before withdrawal. The annual registration may be filed online. Ali other statuses ("active/compliance", "active/owes cuTrent year") are"eliglbIe'to withdraw immediately.

Withdrawal filing fee: $20, payable to "Secretary of State"

Mail completed application and filing fee to address at top of form. Certificate of withdrawal will be mailed to address in item 6. unless a preferred address is provided in a cover letter.

State Of Georgia With/Term/Dissolve 2 Page(s)


C&r^^rcxMons Di¥ision 2i5 Vest Tower

#2 Martin Lutlier Sag. Jr. Br. Atlanta, Georgia 39334-153(1

RAD PDF Sticky Note

We also have phone calls on the court record where RPM stated they are not licensed to conduct mortgage transactions in the state of GA

C E R T I F I C A T E " O F

W I T H D R A W A L

1, Karen C H a n i e i , the Secretary o f State and the Corporatioiis/Commissioner o f the State o f Georgia, hereby certify under the seal o f my office that .

R P M M 0 M T G A G E , I N C . .

/ . a Foreign Prof i t Corporat ion . -

formed, under the laws o f California and authorized to transact .business in Georgia on mmmm, has been duly dissolved, can.celled. or withdrawn on §4/24/20.0§ un.dertlie laws of .the State o f Georgia by tJie filing o f doc.uiii.eiits .i.n-.the office.of the. Secretary o f State, and by the paying of fees, as required by the Official Code o f Georgia Arm.oteted . and the Rules and Regulations promulgated there imder. Attached hereto is a tme and; correct CO0V o f said ai)0lication.


Application for Withdrawal of Certificate of A u t h o r i t y | | | | - | p | . g .

1. 0rgani2a!icn type {check oniy one): B CorporaEion Q Limited Uabiiity Company O Limited Partnerstiip O Uabiiity ymited Partnerstiip

RPM Mortgage, Inc. 2. Entity name.

3. Home state (statein which entity v^s formed)_CA_

5. Ttie entity revokes the authority of its registered agent to accept sen/ice of process on its tehalf and appoints the Georgia Secretary of State as its agent for service in any proceeding based on a cause of action that arose during the time it was authonzed to transact business in Georgia.

RPM Mortgage, inc.

217S N. California Blvd #1000

provided in i ^ ^

c

RAD PDF Sticky Note

This is the company anc the address on the QWF response we received

I

J

Efvîn Rober t Hir t , C E O / Pres iden t

rate Of person Signing obov .

Printed or typed name of signer

cuTTen1âr")are~efigib!e1ow'Ste^ All other statuses | active/compfianw . active/owes


SECRETARY OF STATE OF GA

CERTIFICATE OF ADMINISTRATIVE REVOCATION OF ALLQUEST


STATE OF GEORGIA Secretary of State


#2 Martin Luther King, Jr. Dr. Atlanta, Georgia 30334-1530

CERTIFICATE OF

Administrative Dissolution/Revocation

I, K a r e n C Handel, the Secretary of Stale ofthe State of Georgia, do hereby certify under the seal of

my office that

ALLQUEST MORTGAGE COMPANY LIMITED

was mailed a notice in accordance with Title 14 o f the Off ic ia l Code of Georgia Annotated and

was involuntarily or administratively dissolved or its certificate o f authority revoked by the

Off ice ofSecreta iy o f State on 05/16/2008 for failure to file its annual registration.

Thi s certificate is issued pursuantto Title 14 o f the Off ic ia l Code o f Georgia Annotated and is prima-

facie evidence of the existence or nonexistence of the facts stated herein.

W I T N E S S my hand and official seal of the C i t y o f Atlanta and

the State o f Georgia on M a y 16, 2008

Karen C Handel

Secretary of State


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l i t , Home

A L L Q U E S T MORTGAGE COMPANY L I M I T E D Control Number: 0035553

Main Reports Officers Filing History

Entity Info

Entity Id 3 5 5 5 3

Key Indicators

Model Type Corporat ion

Locale Foreign

Qualifier For-ProfI t

Business Name

Registration Date

Enlity Status

Entity Status Date

Foreign Name

Date of Organization

State

Country

ALLQUEST MORTGAGE COMPANY L IMITHD

8 / 0 8 / 2 0 0 0

Revoked

5 / 1 6 / 2 0 0 8

N Z L

Principal Office Address

PRINCIPAL

Linel 6 1 1 0 P I N E M O N T D R S T E 2 7 5

LineZ

City HOUSTON State Texas Zip 7 7 0 9 2 - 3 2 1 7

Agent

I s non-commercial Registered Agent? No

Name C T CORPORATION SYSTEM

Address

Linel 1 2 0 1 Peacht ree S t r e e t , NE

Line2

City A t l a n t a State Georgia Zip 3 0 3 6 1

Email

Previous Names

Namsi CiiEiiKiaf! I'iie Name Chstimd To SUirvSvin<] enli ty I I I CancelteiJ Untity M lanfeclfve Bate Due Date Actions

From ' numbar

No Miscel laneous Fi l ings w e r e f o u n d .

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A L L Q U E S T R E A L ESTATE CORPORATION Control Number: IC943269


Entity Info

Entity Id 1 1 4 0 6 3 2

Key Indicators


Locale Foreign

Qualifier For-Prof i t

Business Name ALLQUEST REAL ESTATE CORPORATION

Registration Date 1 0 / 2 0 / 1 9 9 9

Entity Status W i t h d r a w n

Entity Stabis Date 1 0 / 1 7 / 2 0 1 2

Foreign Name


State De laware

Country


PRINCIPAL

Linel 6 1 1 0 PINEMONT DRIVE, SUITE 1 5 0

Line2

City HOUSTON State Texas Zip 7 7 0 9 2 - 3 2 1 7

Agent

I s non-commercial Registered Agent? Yes

Name

Address

Linel

Line2

City State Zip

Email

Previous Names

W»mo Changed To Siirwiving Knfitv Xfi Caiicdied entity Ut • EffoctWe Oste fiue Date " ArHonn

NiimiJSi-

No Miscel laneous Filings w e r e f o u n d .

h t tps : / /cgov .sos .s ta te .ga .us /Accountaspx /V iewEnt l tyData?ent l ty ld= 1140632 1/2


3/10/2015 https://cgov.sos.state.ga. us /Account .aspxA/ iewEnt i tyData?ent i^ ld=35553

Hon- ie

ALLQUEST NORTSASE CQMPAUY LmUED Control Uumbi

M a i n R e p o r t s O f f i c e r s F i l i n g H i s t o r y

Entity Info

Entity Id 3 5 5 5 3

K e y Indicators


Locale Foreign


Business Name ALLQUEST MORTGAGE COMPANY LIMITED

Registration Date 8 / 0 8 / 2 0 0 0

Entity Status Revoked

Entity Status Date 5 / 1 6 / 2 0 0 8

Foreign Name


State

Country NZL

135553


PRINQPAL


n o m e

i

ALLQUEST REAL ESTATE CORPORATION Control


Entity Info

E n t i t y Id 1 1 4 0 6 3 2

K e y Indicators


Locale Foreign


Business Name ALLQUEST REAL ESTATE CORPORATION

Registration Date 1 0 / 2 0 / 1 9 9 9

Entity Status W i t h d r a w n

Entity Status Date 1 0 / 1 7 / 2 0 1 2

Foreign Name


State

Country

Delaware


PRINQPAL

Linel 6 1 1 0 PINEMONT DRIVE, SUITE 1 5 0

LineZ

b e r : I C 9 4 3 2 6 9


urn r-..


#2 Mar-fei Liithei- Kiag, Jr= Dr. Atlaate, Georgia 30334-153(1

RAD PDF Sticky Note

We also have recorded phone calls on the court record, where Allquest's agents told us they are not licensed to conduct mortgage transactions in the stated of GA

CERTIFICATE ; OF Administrative

Dissolution/Revocatioii I , Karen C Handel, the Secretar}' o f State o f tlie State o f Georgia, doliereby cei t i fy under the seal o f ftiy office i l i a t

ALLQUEST MORTGAGE COMPANY LIMITEB

v̂ -'as ̂ mailed a notice i n accordance witf i Title 14 o f the Off ic ia l Code o f Georgia Annotated and was involuuiariiy or administrativel}- dissolved or its certificate o f authority revoked by the Office o f Secretary o f Stale on 05/16/20118 f o r failure to file its annual registration. . •


APPRAISAL


U n i f o r m R e s i d e n t i a l A p p r a i s a l R e p o r t Fite# DC12050122

21. The lender/client may disclose or distribute this appraisal report to; the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; morfejage insurers; government sponsored enterprises; other secondary mari<et participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality o f the United States; and any state, the District o f Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media).

22 I am aware that any disclosure or distribution of (his appraisal report by me or the lender/fclient may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Unifomi. Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me.

23. The borrower, another lender at (he request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more of these parties.

24. If tills appraisal report was transmitted as an "electronic record" containing my "electronic signature," as tiiose lemis are defined in applicable federal andAr state laws (excluding audio and video recordings), or a facsimile transmission of tills appraisal report containing a copy or representation of my signattire, tiie appraisal report shall be as effective, enforceable and valid as if a paper version of tills appraisal report were delivered containing my original hand written signature.

25. Any intentional or negligent misrepresentatfon(s) contained in tills appraisal report may result in civil liabilily and/or criminal penalties including, but not limited to, fine or imprisonment or botti under Uie provisions of Titie 18, United States Code, Section 1001, et seq., or similar state laws.

S U P E R V I S O R Y A P P R A I S E R ' S C E R T I F I C A T I O N : The Supervisory Appraiser certifies and agrees tiial:

1. I direcUy supervised ttie appraiser for tills appraisal assignment, have read ttie appraisal report, and agree witti tiie appraiser's analysis, opinions, statements, conclusions, and ttie appraiser's certification.

2 I accept full responsibili^ for tiie contents of tills appraisal report including, but not limited to, ttie appraiser's analysis, opinions, statements, conclusions, and tiie appraiser's certification.

3. The appraiser identified in tills appraisal report is eittier a sub-contiactor or an employee of ttie supervisory appraiser (or tiie appraisal fimi), is qualified to perfomi ttiis appraisal, and is acceptable to perfomi tills appraisal under tiie applicable state law.

4. This appraisal report complies witti tiie Unifomi Standards of Professional Appraisal Practice tiiat were adopted and promulgated by ttie Appraisal Standards Board of The Appraisal Foundation and tiiat were In place at tiie time tills appraisal report was prepared.

5. If tills appraisal report was transmitted as an "electionic record" containing my "electronic signature," as tiiose temis are defined in applicable federal and/br state laws (excluding audio and video recordings), or a facsimile tiansmission of tills appraisal report containing a copy or representation of my signature, Uie appraisal report shall be as effective, enforceable and valid as if a paper version of tills appraisal report were delivered containing my original hand written signattire.

APPRAISI

Signattire

Name S. w i \ r \ i v j vvrt l i \ i i>lo

Company Name

Company Address 890-F ATLANTA ST. #176

ROSWELL, GA 30075

Telephone Num ber (770)654-8740

Email Address appraiserl538(a.earthlink.n9t

Date of Signattire and Report 09/12/2012

Effective Date of Appraisal 08/30/2012

State Certification # CR001538

or State L icense*

or Otiier (describe)

Statt3 GA

Sla te*

Expiration Date of Certtflcatt'on or License

ADDRESS OF PROPERTY APPRAISED

965 SUMMERFIELD DR

01/31/2013

CUMMING, GA 30040

APPRAISED VALUE OF SUBJECT PROPERTY $

LENDER/CLIENT

Name INHOUSE SOLUTIONS

313,000

Company Name MORTGAGE SERVICES III

Company Address 502 N. HERSHEY RD, BLOOMINGTON, IL

61704

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signattire

Name

Company Name

Company Address

Telephone Number

Em ail Address

Date of Signattire

State Certification*

or State L icense*

State

Expiration Date of Certification or License

SUBJECT PROPERTY

CD Did notinspectsubjectproperty

• Did inspectexteriorofsubjectproperty from stteet

Date of Inspection

• Did inspectinteriorand exteriorofsubjectproperty

Date of Inspection

COMPARABLE SALES

• Did notinspectextf ir iorof comparable sales fi'om stteet

• Did inspectexteriorof comparable sales from stteet

Date of Inspection

Freddie Mac Fonn 70 March 2005 UAD Version 9/2011 Page 6 of 6 Fannie Mae Fonn 1004 March 2005


r ".-^ mipi iaunii ic i i i u, uuui utjuci uic piovisiuiib Ul nue 10, unueo i c i e s Code, Section 1001, et seq., or similar state laws.

S U P E R V I S O R Y A P P R A I S E R ' S CERTIF ICATION: The Supervisory Appraiser certifies and agrees that

1. I diiECtly supervised (he appraiser for this appraisal assignraent have read the appraisal report and agree with the appraiser's analysis, opinions, setements, conclusions, and die appraiser's certification.

2. I accept full responsibilily for Ihe contents of this appraisal report including, but not lirailed to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification.

3. The appraiser identified in this appraisal report is either a sub-ccntiactDr or an employee of Ihe supervisory appraiser (or Ihe appraisal finri), is qualified to perform this appraisal, and is acceptable to perfomi this appraisal under the applicable state law.

4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice lhat ¥/ere adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and (hat were in place at the lime this appraisal report was prepared.

5. If this appraisal report was transmitted as an "electronic record" containing ray "electronic signature," as those ternis are defined in applicable federal and* r state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of ray signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were defivered containing my original hand written signature.

APPRAISI

Signature

Name S.

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature

Name

Company Name

Company Address 890-F ATLANTA ST-#176

ROSWELL, GA 30075

Telephone Number (770)654-8740

Email Address appralsen538[5)s3rthlinl<.net

Oateof Signatu re and Report 09/12/2012

Effective Date of Appraisal 08/30/2012

Slate Certification #

or State Licensi

CR001538

or Ottier (descrj

State GA

Expiration Date

ADDRESS OF P

955 SUMM EF

CUMMING. G

APfÂISEDVA

LENDER/CLIENT

RAD PDF Sticky Note

Our homes' value was listed as

Company Name

Company Address

Telephone Num ber

Email Address

Date of Signature

State Certification *

or State License*

State

tate

01/31/2013

Expiration Date ofCertification or License

SUBJECT PROPERTY

Did notinspectsubjectproperty

Did inspectexleriorofsubjectpropeny frora street

Date of Inspection

3 1 M 0 f t Did inspectinteriorand exteriorofsubjectproperty

DaiE of inspection


EMAILS BETWEEN PLAINTIFFS AND MSIII


Sent: Saturday, May 05, 2012 11:28 A M

To: '[email protected]'

Subject: selene Finance / Mortgage Services - Request for information

Dear Mr. Bemiett, Sr,

Selene Finance has asked us to contact you to confirm your eligibility for their Principal Reduction program. Current FHA guidelines may allow you to bring vour mortgage balance back in line with the current value of vour home, while reducmg your interest rate and monthly mortgage payment.

When we spoke the other day I requested the following:

Current Paystubs for you both W-2's for 2011 and 2010 Signed borrowers Authorization and 4506T (attached).

This is a unique opportunity that is only available via Selene Finance. In the event that your loan has aheady been modified, this is a second step that may allow you to further reduce your monthly payment and mortgage balance. There is no cost to you, and those that are eligible receive substantial benefits - with all closing costs paid by Selene Finance.

Time is ofthe essence. Please call today direct 240-397-2833, or reply by email to schedule a tkne to talk. I wil l be in the office on 5/7/2012 from noon until 8:00 p.m.

Carol Hatosy | Loan Counselor Mortgage Services I I I , LLC (MSI) NMLS # 172606/#635842

Toll Free: 1-855-212-8588 Toll Free Fax: 1-855-301-0567


From: Maryam Bennett [mailto:[email protected]] Sent: Monday, September 10, 2012 3:44 PM To: Loria Branch; Carol Hatosy Subject: Selene

Cathy and Loria I got a letter today from Selene telling me that we have been uncooperative and due to that we can't do a forbearance and should consider a short sale or some thing. I have done nothing but what they have asked and I have kept in constant contact with you all during this entire process. The only time a payment was late is when I informed you all of expected expenditures. The payment was made before the 1st of August as promised. Our forbearance agree was from March until July. After our July payment we had been caught up on our payments and we had them come out and do to appraisals which we had to make time for out of our schedules. I just received a letter about a pay off amount received for the second mortgage and I sent Loria an email to ask what we could expect next and I haven't heard back yet. So when I was shocked to hear Selene say that we were uncooperative I was pissed to say the least!!! Can someone please tell us what is going on?!!!

Mrs. Maryam T Bennett

From: Lor ia Branch ([email protected]) Sent: M o n 9/10/12 4:12 P M

To: Maryam Bennett ([email protected]); Carol Hatosy ([email protected]) Mrs Bennett

Carol is going to check with the representative at Selene. We have no idea why you were sent a letter stating you have been uncooperative. We received the payoff for United Guaranty from Selene today and we are waiting for the appraisal to be sent to us by the appraiser.

Thanks

Loria Branch j Loan Processor Mortgage Services lil, LLC (MSI) 5112 Pegasus Court, Suite M Frederick, MD 21704

Direct: 240-397-2830 ext. 607 Direct Fax: 240-215-3614 [email protected]

From: Maryam Bennett ([email protected]) Sent: M o n 9/10/12 5:18 P M To: loria b ([email protected]) Carol called me Loria. The forbearance we had ended in July. I spoke to them in August and other than the letter I wrote you about those were the only times I had contact with them. When I talked to Carol and I explained this to her she said the same as you about the check and we both agreed it is a miscommunication somewhere. We conferenced in Selene and left a voicemail. I told her I would give her a call or shoot her an email when I hear back and vice versa. I will do the same in regards to you. Whenever I hear back from them I will let you know. I feel much better. I just buried my last maternal Uncle today and I was having a crappy day and when I got that letter it did not help but now I feel much better so thank you for that much. LOL If nothing else I can say it took my mind off my grief no matter how briefly.

Mrs. Maryam T Bennett


To: '[email protected]'

Subject: selene Finance / Mortgage Services - Ra

Dear Mr. Bennett, Sr,

RAD PDF Sticky Note

3/19/2015 9:44:58 PI

MSin stated Selene asked them to contact us. They aisc stated they would reduce out principal and mortgage payment. It was suppose to be at no cost to us, yet If you look at all the documents you will see we paid for everything and with interest.

Selene Fmance has asked us to contact you to contirm your eligibility tor their Prmcipal Reduction program. Current FHA guidelines may allow you to bring vour mortgage balance back in Ime with tlie current value of vour home, while reducing your interest rate and monthly mortgage payment.

When we spoke the other day I requested the following:

Current Paystubs for you both W-2's for 2011 and 2010 Signed borrowers Authorization and 4506T (attached).

This is a unique opportunity that is only available via Selene Finance. In tlie event that your loan has aheady been modified, this is a second step that may allow you to fiirther reduce your monthly payment and mortgage balance. There is no cost to you, and those that are eligible receive substantial benefits - witli all closing costs paid by Selene Finance.

Time is of the essence. Please call today direct 240-397-2833, or reply by email to ^Jfhprfulp n f i m f tn t a l k T W/ill T->P tVl t l lA r»-ffl/Â r>n ^ / 7 / ' ) n i 0 frr\t-n ni-v/-»n %in+i\ Q-f in r\ n-1


NOTICE OF SALE UNDER POWER


N O T I C E OF S A L E UNDER POWER GEORGIA, FORSYTH COUNTY

Because of default in the payment of the mdebtedness, secured by a Security Deed executed by Cobrey Bennett Sr and Maiyam Bennett to Mortgage Electronic Registration Systems, Inc. as nominee for Quicken Loans, Inc., its successors and assigns dated November 29, 2006 in the amount of $300,000.00, and recorded in Deed Book 4542, Page 609, Forsyth County, Georgia Records; as last transfen-ed to SRMOF 2009-1 Tioist by assigmnent; the undersigned, SRMOF 2009-1 Trust pursuant to said deed and tlie note thereby secured, has declared the entire amount of said indebtedness due and payable and pursuant to the power of sale contained in said deed, wi l l on the first Tuesday in April , 2012 , during the legal hours of sale, at the Courthouse door in Forsyth County, sell at public outciy to the highest bidder for cash, the propeity described in said deed to-wit:

A l l that tract or parcel of land lying and being in Land Lot 1247 of the 3rd District, 1st Section, Forsyth county, Georgia, being Lot 76, Block A, Sienna Subdivision (fka Kelly M i l l Subdivision), Unit Two, as per revised plat recorded in Plat Book 99, Pages 28-43, Forsyth County, Georgia records, which plat is incorporated herein and made a part hereof by reference.

which has the property address of 965 Summerfield Drive, Cumming, Georgia., together with all fixtures and other personal property conveyed by said deed.

The sale w i l l be held subject to any unpaid taxes, assessments, rights-of-way, easements, protective covenants or restrictions, liens, and other superior matters of record which may affect said property.

The sale wi l l be conducted subject (1) to confirmation that the sale is not prohibited under the U.S. Banlouptcy Code and (2) to fmal confirmation and audit of the status of the loan with the holder of the security deed.

Notice has been given of intention to collect attorneys' fees in accordance with the terms of the note secured by said deed.

Said property wi l l be sold as the property of Cobrey Bennett Sr and Maryam Bennett and the proceeds of said sale wil l be applied to the payment of said indebtedness, the expense of said sale, all. as provided in said deed, and the undersigned w i l l execute a deed to the purchaser as provided in the aforementioned Security Deed.

SRMOF 2009-1 Trust

Attorney in Fact for Cobrey Bennett Sr and Maryam Bennett

McCurdy & Candler, L.L.C. (404) 373-1612 www.mccurdycandler. com File No. 11-20233 /CONV/efisher THIS L A W FIRM IS ACTING AS A DEBT COLLECTOR AND IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE>&SED F q | . T H A T PURPOSE.


NOTICE OF SALE UNDER POWER GEORGIA, FORSYTH COUNTY

Because of default in the payment of the indebtedness, secured by a Security Deed executed by Cobrey Bennett Sr and Maryam Bennett to Mortgage Electronic Registration Systems. Inc. as nominee for Quicken Loans, Inc., its successors and assigns dated November 29. 2006 in the amount of S3 00.000.00, and recorded in Deed Boole 4542, Page 609. Forsyth County, Georgia Records: as last transfen-ed to SRMOF 2009-1 Trust by assignment; the undersigned, SRMOF 2009-1 Trust pursuant to said deed and the note thereby secured, has declared tiie entire amount of said indebtedness due and payable and pursuant to tlie power of sale contained in said deed, will on the first Tuesday in Apr i l 2012 , during die legal hours of sale, at the Courthouse door in Forsyth County, sell at public outcry to the highest bidder for cash, the property described in said deed to-wit:

Al l tliat tract or parcel of ̂ Georgia, being Lot 76. Bl recorded in Plat Book 99. made a part hereof by ref(

which has the property a( other personal property cc

The sale will be held sub or restrictions, liens, and cj

The sale will be conducte Code and (2) to fmal conf

RAD PDF Sticky Note

Notice of sale under power regarding Selene and the loan. The date listed is 11/29/06 the amount of the loan is listed as $300, 000. If the loan was $300,000 in 2006 and we were all caught up f r o m the forbearance and

7 ofthe 3rd District. • Mill Subdivision), Ui| ;ia records, which plat

umming. Georgia., tos

s, rights-of-way, easerj h may affect said prop

RAD PDF Sticky Note

Also notice there is no assignment listed that showed our loan was transferred to SRMOF 2009-1 trust The only trust Selene has an assignment for was listed on 10/13 and the name o f t he trust is SRMOF REO 2011-1

f sale is not prohibited loan with the holder of the securit>' deed.

Notice has been given of intention to collect attorneys' fees in accordance with the terms of the note secured by said deed.

Said property will be sold as the property of Cobrey Bennett Sr and Maiyam Bennett and die proceeds of said sale will be applied to the payment of said indebtedness, the expense of said sale, all as provided in said deed, and the undersigned wil l execute a deed to the purchaser as provided in the aforementioned Security Deed.


SETTLEMENT STATEMENT (HUD-1)


F H A Refinance of Borrowers in Negative Equity Positions Disclosure

B E t O J E T T

Loan # : D C 1 2 0 5 0 1 2 2

M I N : 1 0 0 5 8 8 3 1 2 0 S 0 5 3 5 7 3 S

Date: Lender:

NOVEMBER 19, 2012 MORTGAGE SERVICES I I I , LLC

Borrower(s): COBREY BENNETT SR.

Property Address: 965 SUMMERFIELD DR, CtJMMING, GA 30040

Borrower has applied for a loan with Lender under the FHA Negative Equity Positions Refinance Program. Under this program lenders must:

L Make borrowers aware that, as with any loan forgiveness action, the short refinancing under this program may be reflected as a negative feature on borrower's credit score; and

2. Advise borrowers that they need to consult with their tax advisors regarding the cancellation of debt and possible tax consequence.

Borrower hereby acknowledges receiving a copy of this FHA Refinance of Borrowers in Negative Equit>' Positions Disclosure and fiirther acknowledges to understanding its terms and provisions.

- BORROWER - COBREY BENNETT SR. - DATE -


UNIFORM RESIDENTIAL LOAN APPLICATION


Uniform Residential Loan Application

This application is designed to be completed by the applicant s) w-ilh the Lender's assistance. Applicants should complete iliis form as "Borrower" or "CoBorrower." as applicable Co-Borrower

information muslalsc be provided (and the appropriate bo.\ checked) when LJ the incotne or assets of a person otherthan the Borrower (including the Borrower's sptiuse) wil ! be used as a basis for loan qualification or D the income orassels ofthe Borrower's spouse or otiicr person who has comin unity propeny rights pursuant lo state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spou.se or other person lias cornniunity property rights pursuant to applicable laW' and Borrower resides in a community property state, the security property is located in a community properly state, or the Borrower is relying on other properly located in a community property state as a basis for repayment of the loan.

I f this is an application for joint credit. Borrower itnd Co-Borrower eadi agree diat we intend to apply for joiitt credit (sign below):

Borrower C O B R E Y BENNETT S R . Co-BotTo\ver

L rVTC OF .MORTGAGE .AND TER.MS OF LOAN

Mortgage VA Conventional Other (explain): .Agency Case Number Lender Case Number

AppUed f o n X FHA USDA'Rural Housing Service 105-7098247-821 DC12050122

Amount Interest Rate Ko- o f Months .Amorlizatiori Type: X Fixed Rate Oilier (explain)

5284,900.00 4.2500°i 360 GPM ARM(nT>c);

Subject l-'roperly Address (street, city, state & ZIP)

965 S U M M E R F I E L D DR. GUMMING. GA 30040-

U. PROPERTY INFORMATION .\ND PURPOSE OF LOAN No. of Units

1

Legal Description of Subject Property (attach description i f necessary)

L E G A L DESCRIPTION ATTACHED H E R E T O AND MADE A PART H E R E O F .

Construction I Other (explain):

Construction-Permanent

Year Built

2006

Purpose of Loan Purchase

Refinance

Property wi l l be:

X I PrimaA' Residence Secondary Residence Investment

Complete this tine if constmction or constrticlion-pennanenl loan.

Year Lot Acquired Original Cost

S

Aniount Existing Liens

S

RAD PDF Sticky Note

3/19/2015 9:44:58 PM a + b)

Complete tltis line If titis is a refinance loan.

Year Acquired | Origi nal Cost

2006 $377,000.00

Amount Existing Liens

S 325,206,00

Title wi l l be held in what Naine(s) C O B R E Y BENNETT, S R . AND MARYAM B E N N E T T

This amount is inflated. The mortgage Selene had was the first mortgage for $300,000 in 2006. The 2nd mortgage was discharged in 2009. When this was filed in 2012, our principal balance was $252, 894.96

I I lobe made

Source o f Down Payment. Senlomem Charges, and'or Subordinate Financing (explam

Estate will be held in:

Fee Simple

Leasehold (show

expiration dale)

Borrower tif-wrruM'r'c K'anu^ ̂ [nrlû ,̂* fr ar Sr i f flnnlirahlM

IIL BORRO^^RINFOR-MATION Co-Borrower I rn-RfHTnWi'rx NfnrnpfmrtiiHp Ir nr i f nnrilirnhlpl


FINANCIAL ACCOUNTING STANDARD R U L E FAS-140 (b)


b. FAS-140: Financial Accounting Standards, or FAS 140 govern the accounting rules for transfers and servicing of financial assets. FAS 140 was originally implemented in September of 2000. It replaced the old FASB Statement No. 125 and revised the standards of accounting for securitizations and other transfers of financial assets and collateral. 5

FAS 140 requires certain disclosures, but carried over most of Statement 125's provisions without reconsideration. FAS 140's accounting standards are based on consistent application of a financial-components approach that focuses on control. 6

Under this approach, after a transfer of financial assets, an entity recognizes the financial and servicing assets it controls and the liabilities it has incurred while derecognizing financial assets when control has been surrendered, and derecognizes liabilities when extinguished. 7

Generally, a transfer of financial assets in which the transferor surrenders control over those assets is accounted for as a sale to the extent that consideration, other than beneficial interest in the transferred assets, is received in the exchange. A transferor has surrendered control i f all of the following conditions are met:

1. The transferred assets have been isolated from the transferor, and they are presumptively beyond the reach of the transferor and its creditors.

2. Each transferee has the right to pledge or exchange the assets it received, and there is no condition on its right to pledge or exchange.

3. The transferor does not retain control over the transferred assets through either (1) an agreement that both entitles and obligates the transferor to repurchase or redeem the assets before their maturity or (2) the ability unilaterally to cause the holder to retum the specific assets.

2.The amendments would clarify that the objective of paragraph 9 of Statement 140 is to determine whether a transferor and all of the entities included in the financial statements being presented have surrendered control over transferred financial assets. This determination must consider all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even i f they were not entered into at the time of the transfer


b. FAS-140: Financial Accounting Standards, or FAS 140 govern the accounting rules for transfers and servicing of fmancial assets. FAS 140 was originally implemented in September of 2000. It replaced the old FASB Statement No. 125 and revised the standards of accounting for securitizations and other transfers of fmancial assets and collateral. 5

FAS 140 requires certain disclosures, but carried over most of Statement 125's provisions without reconsideration. FAS 140's accounting standards are based on consistent application of a financial-components approach that focuses on control. 6

Under this approach, after a transfer of financial assets, an entity recognizes the financial and servicing assets it controls and the liabilities it has incurred while derecognizing financial assets when control has been surrendered, and derecognizes liabilities when extinguished. 7

Generally, a transfer of financial assets in which the transferor surrenders control over those assets is accounted for as a sale to the extent that consideration, other than beneficial interest in the transferred assets, is received in the exchange. A transferor has surrendered control i f all of the following conditions are met:

1. The transferred assets have been isolated from the transferor, and they are presumptively beyond the reach ofthe transferor and its creditors.

2. Each transferee has the right to pledge or exchange the assets it received, and there is no condition on its right to pledge or exchange.

3. The transferor does not retain control over the transferred assets through either (1) an agreement that both entitles and obligates the transferor to repurchase or redeem the assets before their maturity or (2) the ability unilaterally to cause the holder to return the specific assets.

2.The amendments would clarify that the objective of paragraph 9 of Statement 140 is to determine whether a transferor and all ofthe entities included in the financial statements being presented have surrendered control over transferred financial assets. This determination must consider all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even i f they were not entered into at the time ofthe transfer


Documents

OCWEN'S ADMITTANCE OF LACK OF STANDING BEFORE OUR … · 2016. 7. 19. · assignments are needed. However, once an account is transferre MERSd out o, f the assignments are completed