TitleTracs is NOT a securitization/forensic audit and is NOT a defense against foreclosure. However, when we identify false (adverse) claims against your title, "quieting" title is the only remedy to 'remove' them.
Make sure yours is NOT one of them.
TitleTracs is a whole NEW kind of title investigation that supplements what all title companies currently provide. Title companies only search past history BEFORE you owned the property. TitleTracs gives you a view from the day you bought it going forward, giving you a view title companies are not skilled or knowledgable to provide. We do NOT take documents at their face value - we deeply scrutinize them for inconsistancies and fraud.
A lot of very bad legal precedent has been set due to the lack of knowledge of the requirements necessary to effect proper loan transfer during securitization. It's securities and tax law, not real estate.
Required procedures and documentation per the Trust's governing documents and federal law were overlooked that even allowed a mortgage-backed security to purchase the loan at all. The DEBT may have been sold to unknowing Wall Street investors but the securing TITLE to the property never legally followed.
It MUST be properly documented where it counts - in county land record. If not, it's a break in the chain of title causing your loan to become unsecured.
So Who IS My Lender?
Through no fault of homeowners and demonstrated in the docu-drama movie "The Big Short," it is nearly impossible to establish true ownership of mortgages throughout the US. And FBI and Dept of Justice (DOJ) investigations confirm it.
So why would anyone pay an entity that has nothing to do with the mortgage? It doesn't matter what happened on Wall St. when the loan was sold several times. If they can't prove they own TITLE to the securing property, the mortgage is unsecured.
Most importantly, the mortgage most likely is not owned either. The debt may still exist (or not!) but to whom? Chances are more likely if a failed bank/lender is involved anywhere within the chain of ownership.
"Quieting" Title Yourself (Pro Se)
The only way to resolve title problems is through a simple legal action to "quiet" title. It is a very limited administrative action that really asks only one question - "Is there a break in the chain of title causing it to be unmarketable/clouded?" Homeowners can file the action themselves (Pro Se)in Court, drastically cutting legal costs.
A Complaint is filed using findings and evidence from the TitleTracs investigation showing the problems. It will also show why a "pretender lender' may have NO claim to the mortgage, causing the Promissory Note to become unsecured.
The adverse claimant must present solid evidence proving otherwise. In most cases, they CAN'T. When the Court agrees, the 'pretender lender' is removed from any claims to the property.
How TitleTracs Works For You
When challenging TITLE, proof of ownership of title is required. Not so in a foreclosure defense whereby they only have to prove they have the right to ENFORCE the debt. If the Note becomes unsecured by breaks in the chain of TITLE, they can't claim the property as payment of the defaulted loan. Homeowners are now in the drivers seat, having the amunition they need to correct it.
Homowners can restore massive lost equity in their investment, now making their home work for them.
Homeowners can now borrow against the newly found equity to pay off other bills, get back on their feet again by regaining financial stability while flushing money back into the US economy. A WIN for everyone that matters!
KNOWLEDGE IS POWER. Use it to YOUR advantage.
Once a break within the chain of title occurs, it MUST be resolved at that point or everything that follows is also compromised.
Title policies as we all know them only provide half of the picture. Just because
you have a clear title policy does not mean you have clear title. It's just clear for what the standard policy covers (liens &
encumbrances). Securitization of mortgages is a fairly recent thing when one considers 400 years of land title recording. Securitization activities
are not reviewed by title companies or current laws as they are written, allowing misapplication and interpretation to run wild.
TitleTracs takes very complicated issues and simplifies them through time lines, evidence and easy explanations, providing an accurate and complete view of TRUE title ownership.
Typical foreclosure defense challenges whether they can ENFORCE collection on the Mortgage - not
OWNERSHIP of it, which is what sets TitleTracs apart. If the TITLE no longer is secured by the mortgage, a 'pretender lender' can't take the property as payment
of the default and most likely doesn't own the mortgage either.
Over 80% of the properies we've researched had fatal flaws that made valid loan ownership transfers impossible. Banks neglected to do the proper documentation and process to maintain the chain of title where it counts - in county land record. The loan may have been sold on Wall Street but if it's not reflected correctly in county land record, it most likely didn't happen and homeowners would never know.Order Learn More
Forged or Missing Documents
During securitization, lenders 'forgot' to do the vital paperwork necesary for a valid transfer of ownership. Independent audits of county land records show that 84% of the documents reviewed were inaccurate or fraudulent in some way. Our researchers identify forged or missing documents. We don't take documents at their face value like a title company does. We make sure that what the document says can actually happen.
Homeowners have no idea what happened to their loan after they signed their name on documents at the closing. If title was compromised in a previous owner's transaction, you may have never received clear title despite what a title company may say. Title companies only cover liens and encumbrances, taking recorded documents at their face value. We don't and that's where the problems usually are. Homeowners were given only half the picture.
Securitized Mortgages are Never in Default
The governing documents for nearly every Trust requires the Servicer to pay the monthly payment if a homeowner can't to insure continuity of payment to the Trust. Therefore, the Trust never actually suffers a loss and as such, servicers cannot foreclose as the loan is not truly in default. It doesn't matter who paid. The servicer then claims it on their insurance so it is the insurance company, who has no relationship with the homeowner, who is the one who loses.
Robosigner & Fraudulent Notarizations
Lenders hired companies to draft or recreate missing documentation, up to 10,000 per month, posing as Vice Presidents of major banks, claiming ownership to property. TitleTracs uses several proprietary databases that contain information, evidence, case law and so much more to create a time line of your chain of title. You will see exactly what happened to your mortgage and how your loan may have just disappeared!
Who Owns the Loan? Nobody Knows!
Banks do not hold on to mortgages. They need to get them off their books to write more loans. So they sell them to 3rd-party investors who put them into pools of thousands of mortgages and sell them on Wall Street to other investors in mortgage-backed securies. Only they did NOT keep up with who owned what and when, resulting in homeowners paying the wrong lender each month. (FBI/DOJ)
Assignments into Closed Trusts Can't Happen
A recorded Assignment of Mortgage that alleges to assign ownership of the mortgage into a Mortgage-Backed security AFTER it's closing date can't legally happen. It causes all kinds of problems for investors by potentially losing the Trust's tax-exempt statutus or is a violation of securities law.
Talk to us about your needs. We have investors who buy homes or do lease-back with an option to purchase programs available. Contact us for details.