This Lawsuit is All About the Greatest Theft of Residential Homes In American History

Nov. 14, 2023 (recording date)

Purchase Money Deed: Rocket Mortgage $192,750 (signed 11/10/2023) by the Shrestha’s. The broker for the loan is based in Plano, Texas – John Cross Mortgage LLC

No money down purchase

Real property records show that the Shrestha’s purchased the foreclosed home for the same amount as the mortgage $192,750 c/o that well known entity Me Alpha aka the auctioneers at Barry and Sewart’s good friends, the Murray’s.

The Transfer “for good consideration”

Next up is the transfer to ROCKETRENTALHOUSTON LLC which potentially violates the non-homestead mortgage and deed with Rocket Mortgage.

See section 19 and related conditions.

Are Rocket Mortgage aware and approve a transfer to an entity they did not underwrite the loan to and which happened within a few short months of the issuance of the loan (raising red flags)?

We’ll be sure to ask…

Here’s what LIT would be concerned about if they were Rocket Mortgage;

Transferring non-exempt property used to generate rental income and then subsequently forming an LLC with the two employees as managing members and registered agents could potentially raise concerns for the mortgage lender, especially if the initial loan was underwritten based on the financial status or employment history of the individuals as employees.

Here are some potential considerations and risks for the mortgage lender:

Change in ownership structure: The transfer of the property to an LLC with the employees as managing members may represent a significant change in the ownership structure. This change could affect the lender’s assessment of risk and may not align with the terms of the original loan agreement.

Risk of default: If the individuals default on the mortgage loan after transferring the property to the LLC, the lender may face challenges in pursuing recourse, especially if the LLC does not have sufficient assets to cover the outstanding debt. Lenders typically evaluate the creditworthiness and financial stability of borrowers before extending loans, and a change in ownership structure could potentially impact their ability to recover the loan amount in case of default.

Potential misrepresentation: If the individuals initially applied for the loan as employees and later transferred the property to an LLC without disclosing this change to the lender, it could raise concerns about misrepresentation or fraud.

Impact on loan terms: The transfer of ownership to an LLC may trigger provisions in the loan agreement related to due-on-sale clauses or other requirements that mandate notification or approval from the lender before transferring ownership.

The $10 Deed re Key Oak Ln: aka Holly Jones and Jack Mokanse

This appears to be a rent back to owner deal – not sure what’s going on so far as the history of the appt of  substitute trustee in 2007 and $128k note is aged – around 2010, and the subsequent assignment to Saxon but that’s not to say some non judicial foreclosure was attempted prior to the transfer… it will require further investigation as to how Jone and Mokanse met up with the Shrestha’s and signed over the home to the girl duo for $10 in March of 2023 who then transferred it for good consideration to Rocket.

All About Property, LLC (“Plaintiff”), and Defendants, Countrywide Home Loans, Inc., Bank of America, N.A., Carrington Mortgage Services, LLC, and Mortgage Electronic Registration Systems, Inc. (together the “Defendants”), (all together the “Parties”), and file this Joint Stipulation of Dismissal, and show as follows:

In addition to the Defendants, Plaintiff sued Federal National Mortgage Association, Inc. (“Fannie Mae”). Unlike the Defendants, Fannie Mae was never served and has not otherwise appeared in this case.

Pursuant to F.R.C.P. 41,

the Parties stipulate to dismissal of the case with prejudice,

including Plaintiff’s claims against Fannie Mae, and request an order of dismissal be entered consistent with this stipulation.