LIT COMMENTARY
MAY 12 23, 2024
WHAT’S LIT WORKIN’ ON TODAY?
A Servicer’s Unique Bond With One Legal Debt Collection Agency in Texas. Stay tuned. pic.twitter.com/TVdFxCSfgd— lawsinusa (@lawsinusa) May 3, 2024
LIT anticipated a settlement in this case, based on the arguments presented by defendant’s counsel. The Wall Street debt buyer sued past the statute of limitations for ANY necessary defendant.
The way the dismissal and void clerk’s entry of default is integrated into the docket is just smoke and mirrors.
The agreement clearly states that PLAINTIFF is dismissing the case WITH PREJUDICE, and the default entered against Evelyn Collins is void (expired statute of limitations).
Furthermore, Mackie Wolf’s lead attorney, Mark Cronenwett has left, be it temporary or otherwise, and obtained a role with Lewis Brisbois, which we’ve commented on during our X posts on our social media account.
He left before this “Joint Stipulation” was ever written or submitted. We suggest he probably was departing or had left the pack when Nick Frame from Houston appeared on April 12, 2024. Yet, like typical wolves, the law firm did not disclose this to the court and submit the relevant pleadings.
They’ve been caught out lyin’ once more, and LIT can thank its avid subscribers and homeowners who alerted us to the Catholic Bandit’s exit from Mackie Wolf.
LIT has an opinion about the latest fraudclosure scheme, flippin’ loans and hiding debt collectors who have immunity to steal homes from hard working citizens… check back once we’ve finished our Select case study analysis for our views on “reperforming loans”.
In Flores, SDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Lorenz, WDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Collins, NDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Scott, WDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Blakeney, WDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Knowles, NDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
In Winckler, WDTX counsel for SPS is MACKIE WOLF ZIENTZ & MANN, P.C.
LIT scoured the federal case docket pertaining to mortgage servicer Select Portfolio Servicing, Inc., (SPS) since 2022 and we found the following cases;
Select Portfolio Servicing, Inc. v. Flores, SDTX
Select Portfolio Servicing, Inc. v. Lorenz, WDTX
Select Portfolio Servicing Inc v. Collins, NDTX
Select Portfolio Servicing, Inc. v. Scott, WDTX
Select Portfolio Servicing, Inc. v. Blakeney, WDTX
Select Portfolio Servicing, Inc. v. Knowles, NDTX
Select Portfolio Servicing, Inc v. Winckler, WDTX
A relevant example of a consumer-homeowner-driven complaint against SPS is:
Blackburn v. Select Portfolio Servicing, Inc., EDTX provides an example of “nominal” substitute trustee argument, which is absurd based on the case study above.
LIT UNVEILS FORECLOSURE TYRANNY
Delve into the Shocking Theft of Texas Homes. A Timely Legal Case Study with Concrete Evidence Exposes the Gravest Injustices!https://t.co/TSDSOJxDzX @DeutscheBank @Law360 @10DowningStreet @Telegraph @guardian @DailyMail @EU_Commission #TWO pic.twitter.com/stynCG9puD
— lawsinusa (@lawsinusa) May 2, 2024
DEC 6, 2023 | REPUBLISHED BY LIT: MAY 12, 2024
Plaintiff Select Portfolio Servicing, Inc. (“Plaintiff” or “SPS”) and Defendants Jose N. Estrada, Juan O. Martinez, Marria A. Martinez, and Maria O. Martinez (“The Estrada-Martinez Defendants,” and together with Plaintiff, are referred to hereafter as the “Parties”) file this Joint Stipulation of Dismissal With Prejudice and show:
The Parties have agreed to dismiss this case with prejudice as to Defendants Jose N. Estrada, Juan O. Martinez, Maria A. Martinez and Maria O. Martinez.
As such, the Parties respectfully request that the Court sign an order of voluntary dismissal with prejudice as to the claims brought by the Plaintiff in this action against these Defendants, ordering that:
1. this Joint Stipulation of Dismissal With Prejudice is granted;
2. all of Plaintiff’s claims in this action against Defendants are dismissed with prejudice;
and
3. that each party will bear its respective costs.
The foregoing is stipulated by the Parties by and through their respective counsel of record.
WHEREFORE, PREMISES CONSIDERED, the Parties request that this matter be dismissed with prejudice.
The Parties also ask for such other relief to which the Parties may be justly entitled.
Respectfully submitted,
By: /s/ Nicholas M. Frame
MARK D. CRONENWETT
Texas Bar No. 00787303
mcronenwett@mwzmlaw.com
NICHOLAS M. FRAME
Texas Bar No. 24093448
nframe@mwzmlaw.com
MACKIE WOLF ZIENTZ & MANN, P. C.
14160 North Dallas Parkway, Suite 900
Dallas, TX 75254
Telephone: (214) 635-2650
Facsimile: (214) 635-2686
ATTORNEYS FOR PLAINTIFF
U.S. District Court
Northern District of Texas (Dallas)
CIVIL DOCKET FOR CASE #: 3:23-cv-02398-K-BN
| Select Portfolio Servicing Inc v. Collins et al Assigned to: Judge Ed Kinkeade Referred to: Magistrate Judge David L. Horan Cause: 28:1332 Diversity-Breach of Contract |
Date Filed: 10/27/2023 Date Terminated: 05/22/2024 Jury Demand: None Nature of Suit: 220 Real Property: Foreclosure Jurisdiction: Diversity |
| Date Filed | # | Docket Text |
|---|---|---|
| 05/17/2024 | 35 | Clerk’s ENTRY OF DEFAULT as to Evelyn Collins. (kcr) (Entered: 05/17/2024) |
| 05/22/2024 | 36 | Joint STIPULATION OF DISMISSAL with Prejudice by Select Portfolio Servicing Inc. (Attachments: # 1 Proposed Order) (Frame, Nicholas) (Entered: 05/22/2024) |
| 05/22/2024 | 37 | NOTICE of Dismissal , Voluntary without Prejudice as to Defendant Evelyn Collins filed by Select Portfolio Servicing Inc (Attachments: # 1 Proposed Order) (Frame, Nicholas) (Entered: 05/22/2024) |
| 05/22/2024 | 38 | ELECTRONIC ORDER cancelling the oral argument and status conference set for Wednesday, May 22, 2024 at 2:00 p.m. in Courtroom 1561, 1100 Commerce Street, Dallas, Texas 75242. (Ordered by Magistrate Judge David L. Horan on 5/22/2024.) (Entered: 05/22/2024) |
| PACER Service Center | |||
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| Transaction Receipt | |||
| 05/23/2024 16:59:46 |
ELECTRONIC ORDER granting 31 Defendants Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, and Maria O. Martinez’s Motion to Set Oral Hearing on Motion To Dismiss Pursuant to Fed. R. Civ. P. 12(b)(6).
The Court will hold oral argument and a status conference on Wednesday, May 22, 2024 at 2:00 p.m. in Courtroom 1561, 1100 Commerce Street, Dallas, Texas 75242.
Defendants’ counsel and Plaintiff’s counsel must attend in person and be prepared to answer the Court’s questions on the motion and update the Court regarding any developments that may bear on the motion and the case and that have occurred since the time that briefing closed.
(Ordered by Magistrate Judge David L. Horan on 5/14/2024.) (Entered: 05/14/2024)
U.S. District Court
Northern District of Texas (Dallas)
CIVIL DOCKET FOR CASE #: 3:23-cv-02398-K-BN
| Select Portfolio Servicing Inc v. Collins et al Assigned to: Judge Ed Kinkeade Referred to: Magistrate Judge David L. Horan Cause: 28:1332 Diversity-Breach of Contract |
Date Filed: 10/27/2023 Jury Demand: None Nature of Suit: 220 Real Property: Foreclosure Jurisdiction: Diversity |
| Date Filed | # | Docket Text |
|---|---|---|
| 05/03/2024 | 29 | ORDER REQUIRING UPDATED JOINT STATUS REPORT: Joint Status Report due by 5/17/2024. (Ordered by Magistrate Judge David L. Horan on 5/3/2024) (axm) (Entered: 05/03/2024) |
| 05/03/2024 | 30 | ORDER REGARDING DEFAULT AND REQUIRING STATUS REPORT: The Court ORDERS Plaintiff Select Portfolio Servicing Inc to, by 5/17/2024, either (1) file a status report advising the Court if Plaintiff does not believe that Defendant Evelyn Collins is in default after having been properly served with process in this case or (2) seek entry of default and file a motion for default judgment against Defendant Evelyn Collins. (Ordered by Magistrate Judge David L. Horan on 5/3/2024) (axm) (Entered: 05/03/2024) |
| 05/10/2024 | 31 | Unopposed MOTION for Oral Hearing on 11 Motion to Dismiss for Failure to State a Claim filed by Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, Maria O. Martinez (Siotos, Dean) Modified on 5/13/2024 (mcrd). (Entered: 05/10/2024) |
| 05/14/2024 | 32 | ELECTRONIC ORDER granting 31 Defendants Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, and Maria O. Martinez’s Motion to Set Oral Hearing on Motion To Dismiss Pursuant to Fed. R. Civ. P. 12(b)(6).The Court will hold oral argument and a status conference on Wednesday, May 22, 2024 at 2:00 p.m. in Courtroom 1561, 1100 Commerce Street, Dallas, Texas 75242.
Defendants’ counsel and Plaintiff’s counsel must attend in person and be prepared to answer the Court’s questions on the motion and update the Court regarding any developments that may bear on the motion and the case and that have occurred since the time that briefing closed. (Ordered by Magistrate Judge David L. Horan on 5/14/2024.) (Entered: 05/14/2024) |
| 05/17/2024 | 33 | Joint STATUS REPORT , Second Follow Up filed by Select Portfolio Servicing Inc. (Frame, Nicholas) (Entered: 05/17/2024) |
| 05/17/2024 | 34 | Request for Clerk to issue Entry of Default as to Defendant Evelyn Collins filed by Select Portfolio Servicing Inc. (Attachments: # 1 Exhibit(s), # 2 Proposed Order) (Frame, Nicholas) (Entered: 05/17/2024) |
| 05/17/2024 | 35 | Clerk’s ENTRY OF DEFAULT as to Evelyn Collins. (kcr) (Entered: 05/17/2024) |
| PACER Service Center | |||
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| Transaction Receipt | |||
| 05/20/2024 14:55:29 |
Plaintiff Select Portfolio Servicing, Inc. (“Plaintiff” or “SPS”) and Defendants Jose N. Estrada, Juan O. Martinez, Marria A. Martinez, and Maria O. Martinez (“The Estrada-Martinez Defendants,” and together with Plaintiff, are referred to hereafter as the “Parties”) file this Follow- Up Joint Status Report, as directed by the Court.
I. “PROPOSED SETTLEMENT”
The “proposed settlement” referenced in the Parties’ prior Joint Status Report is actually an offer to provide information in exchange for an agreement to dismiss the claims against the Estrada-Martinez Defendants.
As stated by the Estrada-Martinez Defendants in the prior Joint Status Report:
“The Estrada-Martinez Defendants contend Plaintiff failed to comply with the Order in that no response or supporting brief of any kind was submitted.
Instead, Plaintiff filed its First Amended Complaint,
adding Section VI., a “Matter of Avoidance,” suggesting that the Estrada-Martinez Defendants “are not bona fide purchasers for value because they did not acquire the property for value.”
In the only apparent attempt made to support this suggestion, Plaintiff states in its First Amended Complaint that
“[t]hese Defendants acquired the property for $100.00 per the General Warranty Deed filed in the Real Property Records of Dallas County, Texas.”
Plaintiff did not, in any capacity, challenge the facts and legal arguments put forward by the Estrada- Martinez Defendants establishing that Plaintiff’s claims are barred by limitations.”
The Estrada-Martinez Defendants, although the Parties have not yet initiated discovery, have offered to deliver documentation to Plaintiff establishing that the Estrada-Martinez Defendants purchased the property in question for value in excess of that alleged by Plaintiff in paragraph 7 and paragraphs 37 through 39 of the Amended Complaint,
in exchange for a full dismissal of the claims brought by Plaintiff against the Estrada-Martinez Defendants.
As of the submission of this Follow-Up Joint Status Report, Plaintiff’s counsel is waiting on a response from Plaintiff concerning the foregoing proposal.
Respectfully submitted,
By: /s/ Nicholas M. Frame
U.S. District Court
Northern District of Texas (Dallas)
CIVIL DOCKET FOR CASE #: 3:23-cv-02398-K-BN
| Select Portfolio Servicing Inc v. Collins et al Assigned to: Judge Ed Kinkeade Referred to: Magistrate Judge David L. Horan Cause: 28:1332 Diversity-Breach of Contract |
Date Filed: 10/27/2023 Jury Demand: None Nature of Suit: 220 Real Property: Foreclosure Jurisdiction: Diversity |
| Plaintiff | ||
| Select Portfolio Servicing Inc | represented by | Mark D Cronenwett Mackie Wolf Zientz & Mann PC 14160 N Dallas Parkway, Suite 900 Dallas, TX 75254 214-635-2650 Fax: 214-635-2686 Email: mcronenwett@mwzmlaw.com LEAD ATTORNEY ATTORNEY TO BE NOTICEDCheyenne D Haley Mackie Wolf Zientz & Mann PC 14160 N Dallas Parkway Suite 900 Dallas, TX 75254 817-991-7755 Email: chaley@mwzmlaw.com ATTORNEY TO BE NOTICEDNicholas Michael Frame Mackie Wolf Zientz & Mann PC 5177 Richmond Ave Suite 1230 Houston, TX 77056 713-730-3219 Fax: 214-635-2686 Email: nframe@mwzmlaw.com ATTORNEY TO BE NOTICEDRachael Swernofsky Barrett Daffin Frappier Turner & Engel LLP 4004 Belt Line Road Suite 100 Addison, TX 75001 972-341-0511 Email: rachaels@bdfgroup.com ATTORNEY TO BE NOTICED |
| V. | ||
| Defendant | ||
| Evelyn Collins | ||
| Defendant | ||
| Jose N. Estrada | represented by | Dean John Siotos Irelan McDaniel PLLC 10440 N Central Expressway Suite 800 Dallas, TX 75231 214-265-6500 Fax: 713-222-7669 Email: Dsiotos@IMTexasLaw.com LEAD ATTORNEY ATTORNEY TO BE NOTICED |
| Defendant | ||
| Juan O. Martinez | represented by | Dean John Siotos (See above for address) LEAD ATTORNEY ATTORNEY TO BE NOTICED |
| Defendant | ||
| Maria A. Martinez | represented by | Dean John Siotos (See above for address) LEAD ATTORNEY ATTORNEY TO BE NOTICED |
| Defendant | ||
| Maria O. Martinez | represented by | Dean John Siotos (See above for address) LEAD ATTORNEY ATTORNEY TO BE NOTICED |
| Date Filed | # | Docket Text |
|---|---|---|
| 10/27/2023 | 1 | COMPLAINT against All Defendants filed by Select Portfolio Servicing, Inc.. (Filing fee $402; Receipt number ATXNDC-14135834) Summons(es) not requested at this time. In each Notice of Electronic Filing, the judge assignment is indicated, and a link to the Judges Copy Requirements and Judge Specific Requirements is provided. The court reminds the filer that any required copy of this and future documents must be delivered to the judge, in the manner prescribed, within three business days of filing. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms, instructions, and exemption information may be found at www.txnd.uscourts.gov, or by clicking here: Attorney Information – Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. (Attachments: # 1 Exhibit(s), # 2 Cover Sheet) (Cronenwett, Mark) (Entered: 10/27/2023) |
| 10/27/2023 | 2 | Request for Clerk to issue Request for Issuance of Summons filed by Select Portfolio Servicing, Inc.. (Swernofsky, Rachael) (Entered: 10/27/2023) |
| 10/27/2023 | 4 | New Case Notes: A filing fee has been paid. CASREF case referral set and case referred to Magistrate Judge Horan (see Special Order 3). Pursuant to Misc. Order 6, Plaintiff is provided the Notice of Right to Consent to Proceed Before A U.S. Magistrate Judge (Judge Horan). Clerk to provide copy to plaintiff if not received electronically. (oyh) (Entered: 10/30/2023) |
| 10/30/2023 | 3 | CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by Select Portfolio Servicing, Inc.. (Clerk QC note: No affiliate entered in ECF). (Swernofsky, Rachael) (Entered: 10/30/2023) |
| 10/30/2023 | 5 | Summons Issued as to Evelyn Collins, Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, Maria O. Martinez. (oyh) (Entered: 10/30/2023) |
| 11/07/2023 | 6 | NOTICE of Appearance as Additional Counsel for Plaintiff filed by Select Portfolio Servicing Inc (Haley, Cheyenne) (Entered: 11/07/2023) |
| 11/08/2023 | 7 | SUMMONS Returned Executed as to Juan O. Martinez ; served on 11/2/2023. (Haley, Cheyenne) (Entered: 11/08/2023) |
| 11/09/2023 | 8 | ***PLEASE DISREGARD ENTRY PER ATTORNEY; CORRECT DOCUMENT HAS BEEN RE-FILED*** SUMMONS Returned Executed as to Jose N Estrada; served on 11/7/2023 (Haley, Cheyenne) Modified event text on 11/12/2023 (axm). Modified docket text on 11/13/2023 (oyh). (Entered: 11/09/2023) |
| 11/09/2023 | 9 | SUMMONS Returned Executed as to Jose N. Estrada ; served on 11/7/2023. (Haley, Cheyenne) Modified on 11/12/2023 (axm). Modified docket text on 11/13/2023 (oyh). (Entered: 11/09/2023) |
| 11/16/2023 | 10 | ORDER REGARDING DIVERSITY JURISDICTION: Because Select Portfolio as the plaintiff invoking the Court’s subject matter jurisdiction under 28 U.S.C. § 1332(a), has not adequately alleged Defendants citizenship, Select Portfolio must file a written response to this order to properly plead the citizenship of all defendants by November 30, 2023. (Ordered by Magistrate Judge David L. Horan on 11/16/2023) (mcrd) (Entered: 11/16/2023) |
| 11/22/2023 | 11 | Motion to Dismiss for Failure to State a Claim filed by Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, Maria O. Martinez (Attachments: # 1 Proposed Order)Attorney Dean John Siotos added to party Jose N. Estrada(pty:dft), Attorney Dean John Siotos added to party Juan O. Martinez(pty:dft), Attorney Dean John Siotos added to party Maria A. Martinez(pty:dft), Attorney Dean John Siotos added to party Maria O. Martinez(pty:dft) (Siotos, Dean) (Entered: 11/22/2023) |
| 11/22/2023 | 12 | Brief/Memorandum in Support filed by Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, Maria O. Martinez re 11 Motion to Dismiss for Failure to State a Claim (Attachments: # 1 Exhibit(s), # 2 Exhibit(s), # 3 Exhibit(s), # 4 Exhibit(s), # 5 Exhibit(s), # 6 Exhibit(s)) (Siotos, Dean) (Entered: 11/22/2023) |
| 11/22/2023 | 13 | CERTIFICATE OF INTERESTED PERSONS/DISCLOSURE STATEMENT by Jose N. Estrada, Juan O. Martinez, Maria A. Martinez, Maria O. Martinez. (Clerk QC note: No affiliate entered in ECF). (Siotos, Dean) (Entered: 11/22/2023) |
| 11/27/2023 | 14 | ORDER SETTING BRIEFING SCHEDULE re: 11 Motion to Dismiss for Failure to State a Claim. Responses due by 12/22/2023. Replies due by 1/8/2024. (Ordered by Magistrate Judge David L. Horan on 11/27/2023) (kaf) (Entered: 11/27/2023) |
| 11/29/2023 | 15 | SUMMONS Returned Executed as to Evelyn Collins ; served on 11/20/2023. (Cronenwett, Mark) (Entered: 11/29/2023) |
| 11/30/2023 | 16 | SUMMONS Returned Executed as to Evelyn Collins; served on 11/20/2023. (kcr) (Entered: 11/30/2023) |
| 11/30/2023 | 17 | RESPONSE filed by Select Portfolio Servicing Inc re: 10 Order, (Attachments: # 1 Exhibit(s)) (Haley, Cheyenne) (Entered: 11/30/2023) |
| 12/22/2023 | 18 | NOTICE of Servicemember Declaration filed by Select Portfolio Servicing Inc (Haley, Cheyenne) (Entered: 12/22/2023) |
| 12/22/2023 | 19 | AMENDED COMPLAINT , Plaintiff’s First against All Defendants filed by Select Portfolio Servicing Inc. Unless exempted, attorneys who are not admitted to practice in the Northern District of Texas must seek admission promptly. Forms, instructions, and exemption information may be found at www.txnd.uscourts.gov, or by clicking here: Attorney Information – Bar Membership. If admission requirements are not satisfied within 21 days, the clerk will notify the presiding judge. (Attachments: # 1 Exhibit(s)) (Cronenwett, Mark) (Entered: 12/22/2023) |
| 01/08/2024 | 20 | REPLY filed by Jose N. Estrada re: 11 Motion to Dismiss for Failure to State a Claim (Siotos, Dean) (Entered: 01/08/2024) |
| 01/22/2024 | 21 | AMENDED DOCUMENT by Select Portfolio Servicing Inc. – Amended Servicemember Declaration. (Haley, Cheyenne) (Entered: 01/22/2024) |
| 02/29/2024 | 22 | ORDER REQUIRING CONFERENCE AND JOINT STATUS REPORT: Joint Status Report due by 4/4/2024. (Ordered by Magistrate Judge David L. Horan on 2/29/2024) (axm) (Entered: 03/01/2024) |
| 02/29/2024 | 23 | STANDING ORDER ON DISCOVERY AND NON-DISPOSITIVE MOTIONS. (Ordered by Magistrate Judge David L. Horan on 2/29/2024) (axm) (Entered: 03/01/2024) |
| 02/29/2024 | 24 | STANDING ORDER ON FILING MATERIALS UNDER SEAL. (Ordered by Magistrate Judge David L. Horan on 2/29/2024) (axm) (Entered: 03/01/2024) |
| 04/04/2024 | 25 | Joint STATUS REPORT filed by Select Portfolio Servicing Inc. (Haley, Cheyenne) (Entered: 04/04/2024) |
| 04/10/2024 | 26 | ELECTRONIC ORDER: In their April 4, 2024 25 Joint Status Report, the parties report that they “are currently discussing a proposed settlement that may quickly resolve this case without need for further litigation.” In light of the pending motion to dismiss, the Court directs the parties to file, by Friday, April 12, 2024, a follow-up joint status report briefly informing the Court of the status of their settlement negotiations (without revealing the parties’ positions or specific information such as settlement figures). (Ordered by Magistrate Judge David L. Horan on 4/10/2024.) (Entered: 04/10/2024) |
| 04/12/2024 | 27 | NOTICE of Attorney Appearance by Nicholas Michael Frame on behalf of Select Portfolio Servicing Inc. (Filer confirms contact info in ECF is current.) (Frame, Nicholas) (Entered: 04/12/2024) |
| 04/12/2024 | 28 | Joint STATUS REPORT Follow Up filed by Select Portfolio Servicing Inc. (Frame, Nicholas) (Entered: 04/12/2024) |
| PACER Service Center | |||
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| Transaction Receipt | |||
| 05/03/2024 10:46:50 |
Sutton Funding LLC is a financial company based in New York City.
They provide working capital to small and medium-sized businesses.
Since their inception, they have worked with thousands of clients and funded over $100 million.
Interestingly, Sutton Funding LLC has been involved in the mortgage-backed securities (RMBS) market.
For instance, they were the seller and sponsor for a non-prime RMBS transaction called Barclays Mortgage Loan Trust 2021-NQM1.
In this transaction, non-QM loans made up about 67.18% of the pool, and 22.27% of the pool consisted of exempt investor property loans.
The total note balance, including unrated classes, was $244,200,597.
The transaction was expected to close on November 23, 2021
LIT is working on one case right now pertaining to @FannieMae‘s decision in 2016 to rename distressed secured home loan debt as ‘reperforming’ loans and selling for cents to debt buyers as they struggled with $37 Billion USD of troubled loans due to predatory lending practices. pic.twitter.com/KkeP7oVU8l
— lawsinusa (@lawsinusa) May 6, 2024
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