Sat Mar 23, 2024 11:33 pm by globalturbo
BANKS PURPOSELY DESTROY THE ORIGINAL NOTES & MORTGAGES. So when they're trying to foreclose and they present an "indorsed Note" that they claim is a certified copy of the original sitting in a vault, THEY ARE LYING. Many of us have known that, but here is one way to prove it.
On 09-28-2009 the Florida Bankers Association admitted to the Supreme Court of Florida that:
“It is a reality of commerce that virtually all paper documents related to a note and mortgage are converted to electronic files almost immediately after the loan is closed. Individual loans, as electronic data, are compiled into portfolios which are transferred to the secondary market, frequently as mortgage-backed securities. The records of ownership and payment are maintained by a servicing agent in an electronic database. The reason many firms file lost-Note counts as a standard alternative pleading in the complaint is because THE PHYSICAL DOCUMENT WAS DELIBERATELY ELIMINATED to avoid confusion immediately upon its conversion to an electronic file. Electronic storage is almost universally acknowledged as safer, more efficient and less expensive than maintaining the originals in hard copy, which bears the concomitant costs of physical indexing, archiving and maintaining security. It is a standard in the industry and becoming the benchmark of modern efficiency across the spectrum of commerce—including the court system.”
[url=http://www.floridasupremecourt.org/clerk/comments/2009/09-1460_093009_Comments %28FBA%29.pdf]http://www.floridasupremecourt.org/...[/url]
On 09-28-2009 the Florida Bankers Association admitted to the Supreme Court of Florida that:
“It is a reality of commerce that virtually all paper documents related to a note and mortgage are converted to electronic files almost immediately after the loan is closed. Individual loans, as electronic data, are compiled into portfolios which are transferred to the secondary market, frequently as mortgage-backed securities. The records of ownership and payment are maintained by a servicing agent in an electronic database. The reason many firms file lost-Note counts as a standard alternative pleading in the complaint is because THE PHYSICAL DOCUMENT WAS DELIBERATELY ELIMINATED to avoid confusion immediately upon its conversion to an electronic file. Electronic storage is almost universally acknowledged as safer, more efficient and less expensive than maintaining the originals in hard copy, which bears the concomitant costs of physical indexing, archiving and maintaining security. It is a standard in the industry and becoming the benchmark of modern efficiency across the spectrum of commerce—including the court system.”
[url=http://www.floridasupremecourt.org/clerk/comments/2009/09-1460_093009_Comments %28FBA%29.pdf]http://www.floridasupremecourt.org/...[/url]
