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The allegation of “holder” is disingenuous at the least. In fact, the obligation of the homeowner is not ever due to Wells Fargo in a securitized residential note and mortgage or deed of trust. It frequently finesses the holder in due course confrontation by this allegation because of the presumption arising out of its allegation that it is the holder. Wells Fargo will often allege that it is the holder of the note. However it goes to great lengths to pretend that it is acting under the scope of its bank charter when it pursues foreclosure. In most transactions in which a residential loan was securitized, Wells Fargo did not work under the scope of its bank charter.

But if you are following the money you look to the obligation. The evidence of the transaction is the note and the mortgage or deed of trust is incident to the transaction. It means that the “Trust” is merely an operating agreement through which the ivnestors may act collectively under certain conditions. This means that the “Trust” does NOT own the pool nor the loans in the pool. Those investors are the creditors because they received a certificate containing three promises: (1) repayment of principal non-recourse based upon the payments by obligors under the terms of notes and mortgages in the pool (2) payment of interest under the same conditions and (3) the conveyance of a percentage ownership in the pool, which means that collectively 100% of the ivnestors own 100% of the the entire pool of loans. But the pool from which those funds were advanced came from investors who purchased certificates of asset backed securities. The obligation arose when the funds were advanced for the benefit of the homeowner. However, it is the use of the word “BANK” which connotes credibility to their role in the transaction despite the fact that they are not, and never were a creditor. In short, despite the sue of the word “BANK”, it was not acting as a bank in any sense of the word within the securitization chain. It might also be designated as “Depositor” which in most cases means that it performed no function, received no money, disbursed no money and neither received, stored, handled or transmitted any documentation despite third party documentation to the contrary. Sometimes it acted as a commercial bank meaning it processed a deposit and withdrawal, sometimes (rarely, perhaps 3-4% of the time) it did act as a lender, and sometimes it acted as a securities underwriter or co-underwriter of asset backed securities.

In most securitized loan situations, Wells Fargo appears with the word “BANK” used, but it acted neither as a commercial nor investment bank in the deal. appears in many ways including as servicer (America Servicing Company), Trustee (although it does not appear to be qualified as a “Trust Company”), as claimed beneficiary, as Payee on the note, as beneficiary under the title policy, as beneficiary under the property and liability insurance, and it may have in actuality acted as a mortgage broker without getting licensed as such. LAWYER-CLIENT JOB FAIR BY TELECONFERENCE - ***SPREAD THE WORD***.The Evolving Mortgage Audit and Analysis Process.Attorney Network Expands to Over 150 Lawyers in 37 States.New Workshop on Homeowner Rights and Strategies.Foreclosure Defense and Offense: The Evolving Mortgage Audit Process.Lehman - Aurora - BNC - First Alliance et al.SEC Filings on securitized debt and mortgages.

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REGULATORY AGENCIES AND ACTIONS: FULL COURT PRESS.

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MERS - Mortgage Electronic Registration Systems.

Settlements, Modifications, Short Sales.

RECENT DEFENSIVE MOTIONS FILED BY “LENDERS”.

Narratives as background for argument or pleading.

Trustees: Deed, Pool, Certificate-Holders, Substitutions and Beneficiaries.

TITLE AGENT LIABILITY FOR ERRORS AND OMISSIONS AND TITLE INSURANCE.

CAUSES OF ACTION AGAINST ALL OR ANY DEFENDANTS.

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Mission Statement and Introduction: SINGLE TRANSACTION.

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