QUESTION
Is that trustee "duly appointed" entitled to act in any way as trustee?
Asked on Sep 27th, 2013 on Foreclosures - New York
More details to this question:
Loan servicer appointed a trustee by signing a substitution of trustee that specified that the beneficiary was the "undersigned." In fact, the name specified for the undersigned was the servicer's own name, not "servicer name as attorney-in-fact for beneficiary name." The actual beneficiary was not mentioned in any way.
1 ANSWER
Kenneth Steven Pelsinger
I would have to see the Loan documents you signed at closing, and see if there were a proper negotiation of the note within the trust according to the PSA, this must occur within 90 days of the start date of the trust. Its not a simple question you have since Banks always assert false assignments and fail to follow the rules of the PSA.
Answered on Sep 27th, 2013 at 4:37 PM