My recent letter to BofA (Part 2) - Page 15
Feb 10, 2012 . Home Equity Loan · Foreclosure Bail Out Loans . Current Mortgage Rates . Should Bank of America, N.A. and/or BAC and Recon Trust . hereby advised to halt the unlawful conversion of Freedomwon property located at .
http://www.loansafe.org/forum/bank-america-home-loans/41283-my-recent-letter-bofa-part-2-a-15.html

Ginnie Mae MBS Guide Table of Contents
Adjustable Rate Mortgage Pools and Loan Packages – Special . Home Equity Conversion Mortgage Loan Pools - Special Requirements (HECM/HMBS) . Widely Held Fixed Investment Trust ("WHFIT") Tax Reporting File Layout; Appendix .
http://www.ginniemae.gov/guide/guidtoc.asp

Auction.Com Trustee Sales | ForeclosureRadar
Also, I noticed a property on FR has a much higher Opening Bid than what . Then on about 10/19 it got updated to 12/28 on Recontrust website. . I wouldn't be shocked if Stone Point Capital the private equity firm that owns Auction.com is using it as a vehicle to sell mortgages they bought elsewhere.
http://www.foreclosureradar.com/forum/buyers-and-investors/buying-auction/auctioncom-trustee-sales

Benefits of Losing the mortgage equity conversions assets recon trust

Limitation Act
(a) a rule of equity that refuses relief, on the ground of acquiescence, to a . (c) against a trustee for the conversion of trust property to the trustee's own use; .
http://www.bclaws.ca/Recon/document/ID/freeside/00_96266_01

PG1 POSTPKG
Dallas County Adjustable Rate Home Equity Conversion Deed of Trust . Property Code, the Mortgage Servicer is authorized to collect the debt and to administer any resulting foreclosure . c/o RECONTRUST COMPANY, N.A. .
http://www.dallascounty.org/department/countyclerk/media/foreclosure/March/Carrollton3.pdf

  • Form 571 Reference Guide - updated 3/4/11
    Submit Form 571 via the Asset Management Network (AMN). 2. . All pre- foreclosure sales involving mortgage insurance (MI) should have the MI claim filed with . mortgagee can establish there is no equity in the property. . Sub, Deed/Recon Recording . Deed of Trust Recording . Title Search/Address Conversion Cost .
    https://www.efanniemae.com/sf/servicing/pdf/571processguide.pdf

    PrimeSource Funding - Mortgage Loan | Refinance | Purchase ...
    Written instructions by a beneficiary under a deed of trust or mortgage stating and demanding the amount . A combination of a line of credit and equity loan secured by real property. . Reconveyance (Recon) . gains from involuntary conversions of capital assets not held for business or profit, capital gain distributions not .
    http://www.primesourcefunding.com/mortgagedictionary.html

Mohammad Nourai | LinkedIn
Capital Markets/Securities Industry: Financial Asset Classes/Equities, OTC/ Derivatives . Fixed income, Repo, cash equity and securities lending, Unit Investment Trust. . TLM SmartStream's, Mortgage Backed Securities, and Corporate Actions. . Worked on recon project using SmartStream application for daily cash and .
http://www.linkedin.com/pub/mohammad-nourai/9/93b/ba3

Meeting the Requirements

As far as your lender is concerned, here are the typical requirements you usually must meet to eliminate your escrow account:

  • Your mortgage is at least one year old, and you have made on-time payments consistently for the entire year
  • LTV (loan-to-value ratio) has to be under 75%
  • Loan has to be a conventional loan (VA and FHA loans typically cannot shed their escrow accounts; it is part of the condition of a government-backed loan)
  • No taxes or insurance payments can be due in the next 30 days

Celinda Scollo | LinkedIn
Consultant at ReconTrust Company -Operational Risk and Compliance at Sandpiper . at WMC Mortgage; Consultant at WMC - Computer Conversion at Sandpiper . and sale of securitized and non-securitized assets, due diligence and valuation, . of securitizing residential, multi-family, commercial and home equity loans.
http://www.linkedin.com/pub/celinda-scollo/15/32/316

Making the Payments Each Year

The Bank of New York Mellon Trust Company, National Association ...
The Bank of New York Mellon Trust Company, National Association in Los Angeles, California (CA), FL. . Assets and Liabilities; Income and Expense; Performance and Condition Ratios; Total Fiduciary and Related . Quarterly return on equity: 9.05% ($148.0 mil) . Sale, conversion, retirement of capital stock, net, $0 .
http://www.faqs.org/banks/The-Bank-of-New-York-Mellon-Trust-Company-National-Association-23472-Los-Angeles-California.html

Investing the Assets of the Social Security Trust Fund in Equity ...
OASDI Trust Funds' assets or future surpluses into equity investments would increase . conversion of the Trust Funds' existing assets into equities necessitates the . Mortgage-backed debt securi- . 24 For a thorough discussion, see Roberta Romano, “Public Pension Fund Activism in Corporate Governance Recon- .
http://www.ici.org/pdf/per02-04.pdf






Wrongful Foreclosure Xyz ABC
Dec 25, 2010 . This action concerns certain real property, of which, Plaintiff, Xyz Abc, . and who regularly provide mortgage loans and related services to . Oaks, CA, ReconTrust is a member of the Bank of America family of companies. . to keep Plaintiff's right, title and interest to the property, and all equity therein. 65.
http://www.scribd.com/doc/45894619/Wrongful-Foreclosure-Xyz-ABC


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Comments to How to Break Free from Your mortgage equity conversions assets recon trust

  1. HousingPANIC - The Housing Bubble Blog with an Attitude Problem ...
    Mar 7, 2007 . Wall Street Journal: How Countrywide CEO Wins Amid Mortgage Mayhem . to engage in the primary business activities conducted prior to its conversion. . ReconTrust Company, N.A., into ReconTrust Company, one of the resulting . The Mexicans start digging on my property so I go over to talk to him.
    http://housingpanic.blogspot.com/2007/03/countrywides-mozilo-takes-140000000-off.html

    wrc1000

  2. Great idea – why give the mortgage company an interest-free loan?

    Shareholders Equity Stock Rankings for Oil & Gas Equipment ...
    A list of public companies, in the Oil & Gas Equipment & Services industry, ranked by Shareholders Equity.
    http://ycharts.com/rankings/industries/Oil%20&%20Gas%20Equipment%20&%20Services/shareholders_equity

    NOTICE OF TRUSTEE'S SALE TS No
    May 7, 2010 . Notice is hereby given that RECONTRUST COMPANY, N.A., successor . as his sole and separate property, as Trustor, Mortgage Electronic Registration . estate or other claims, both in law and in equity, which Trustor now has or . conversion of any of the Land, Improvements or the other Property into .
    http://thecoastnews.com/legalnotices/Legal_Notices_May_7_2010.doc

    Panelists - Welcome to the 2012 Restructuring and Turnaround ...
    Mr. Nolan has considerable mortgage banking experience and has been very . requiring stabilization and a rebuilding of trust with investors and creditors. . loan sales, debt-to-equity conversions, asset divestitures, debt restructurings as well . Allied Office Products, Recon Construction Services, Regatta Pacific Alliance .
    http://www.whartonrestructuringconference.org/panelists.html

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  3. Reverse Condo Conversions: Turning Condominium Units Back into ...
    Oct 31, 2008 . If managed properly, a rental property offers the opportunity to generate positive cash flow to offset mortgage and maintenance costs.
    http://blogs.cbh.com/recon/?p=52

    Society Act
    74, Conversion to company . (a) to buy, sell, exchange, develop and mortgage property; . not in derogation of, an enactment or rule of law or equity relating to the duties or liabilities of directors of a society. . negligence, default, breach of duty or breach of trust of which the director may be guilty in relation to the society.
    http://www.bclaws.ca/Recon/document/ID/freeside/00_96433_01

    UNITED STATES DISTRICT COURT DISTRICT OF NEVADA JEAN ...
    Mortgage Electronic Registration Systems, Inc. (IMERS"), BAC Home Loans . 2: 11-cv-00988-GMN-CWH relating to the Starbuck Property against Defendants BACHL,. BONY, ReconTrust, MERS and MERSCORP, Inc. Both actions were . preliminary relief; (3) that the balance of equities tips in his favor; and (4) that an .
    http://www.mersinc.org/files/filedownload.aspx?id=423&table=DownloadFile

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  4. Glossary of Mortgage Terms - Capstar Lending
    Conversion Clause A provision in some ARMS, (Adjustable Rate Mortgage) that allows . Deed of Trust A document used which pledges real property to secure a debt. . Equity The difference between the fair market value and current . Recon / Reconveyance A release of lien filed with the county recorder by the trustee.
    http://www.capstarlending.com/glossary.html

    Edwin

  5. Internal Revenue Manual - 4.13.7 Exhibits
    Use reason code to designate item being adjusted and the audit recon reason code. . Pensions, annuities, royalties, estate or trust income and non-employee . Send copies of mortgage interest statements, equity credit lines/loans, land and . from a personal residence to rental property give the date of the conversion.
    http://www.irs.gov/irm/part4/irm_04-013-007.html

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  6. BREAKING VIDEO!!! FOX NEWS Discusses MERS – Could 62 ...
    Sep 13, 2010 . Over 62 million mortgages are now held in the name of MERS, . ($1 in $2+int back out of trusts) to steal from investors and public, B) Equity Stripping . and possibly also committed Conversion of the rights to the property. . RECON TRUST for BOA or National Default Services for Wachovia/Wells Fargo.
    http://4closurefraud.org/2010/09/13/breaking-video-fox-news-discusses-mers-could-62-million-homes-be-foreclosure-proof/

    Thanks for the question!

    Provident Funding: The Mortgage Price Leader!
    Beneficiary: The person designated to receive the income from a trust, estate, or deed of . Chattel: An article of personal property that is not revealed in the mortgage . Condominium Conversion: Changing the ownership of an existing building . the trustee is asked by the beneficiary to issue a "recon" or reconveyance.
    https://www.provident.com/Origination/Information/Glossary/Glossary.aspx

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  7. Mortgage Glossary - austinhomeloans.org
    Conversion Clause A provision in some ARMS, (Adjustable Rate Mortgages) that allow you to . Deed of Trust A document which pledges real property to secure a debt. . Equity The difference between the fair market value and current . Recon / Reconveyance A release of lien filed with the county recorder by the trustee.
    http://www.austinhomeloans.org/page/461332/LearningCenter/MortgageGlossary

    Nancy Drew Digs Into Wells Fargo -Maiden Lane, FDIC, FHLA ...
    Feb 13, 2012 . Norwest Asset Sec Corp Mort Ps Thr Cert Ser 1998-1 Trust . and 1989-1995 Fannie/Freddie/RECONTRUST already booked . (5) Home Equity Conversion Mortgages, processed in accordance with §§203.3 and 203.255.
    http://livinglies.wordpress.com/2012/02/13/nabcy-drew-digs-into-wells-fargo-maiden-lane-fdic-fhla/

    jimmy37

  8. Simon Property Group Announces Strong First Quarter Results
    INDIANAPOLIS, April 28 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. ( the . is a real estate investment trust engaged in the ownership, development and . EQUITY: Mortgages and other indebtedness $7699129 $7479359 Accounts . conversions and option exercises (6) 14194 14212 Diluted FFO of the Simon .
    http://phx.corporate-ir.net/phoenix.zhtml?c=113968&p=irol-newsArticle&ID=849271&highlight=

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  9. SERVICER TIMELINE | AmeriCatalyst
    The Walnut Place investors said at least 1190 mortgage loans in the trust . 19- May-11, Utah AG Mark Shurtleff accuses BAC of breaking state law (Recon Trust Co. unit isn't . The proposed rule generally would require sponsors of asset- backed . a conversion to a new system of record and default management platform.
    http://americatalyst.com/news/research-that-matters/

    LC

  10. Excellent post!

    2011 January | iLoan Home Mortgage
    Lease with Option to Purchase · Community Land Trusts (CLT) Mortgages . Reverse Mortgage – FHA's Home Equity Conversion Mortgage (HECM) . ole world wide web, you can get a pretty good recon on the LO you intend on working with. . I wanted to give you a simple tool to use when considering one property over .
    http://iloanhomemortgage.com/2011/01/


    MORTGAGE APPLICATION BOOKLET
    Fremont Bank mortgage on the same property for a period of one hundred . accounts are set forth in the deed of trust and in federal and state law. Analysis of .
    http://www.fremontbank.com/documents/disclosures/disclosure.mortgage.pdf

    FV

  11. Annual Report 2007
    Average shareholders' equity has been calculated based upon the average of the current . of the year, confidence in the very much larger field of asset- backed securities plunged. . of becoming the financial services provider enjoying the highest level of trust. . The conversion of the Company into an SE has brought .
    https://www.allianz.com/static-resources/en/investor_relations/reports_and_financial_data/annual_report/archive/v_1207734414000/az_group_e_2007.pdf

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  12. new irs rulings approve rescission transactions that change an ...
    property was reconveyed to A, A acquired a new basis in the property, which was the . trust, and payments of dividends by a corporation . corporation (formed through a statutory conversion . its equity holders since the date of the incorpo- .
    http://www.kattenlaw.com/files/Publication/6a29278f-7229-4421-b5aa-1a3d44156c8c/Presentation/PublicationAttachment/0a1830f8-8e30-434f-8a0f-debdfe8e289a/New_IRS_Rulings_Approve_Rescission_Transactions.pdf

    DS

  13. what about new jersey jurisdiction for escrow account , I realy need to eliminate this account, specially with this high real estate taxes in new jersey which consider as double your mortgage payments

    Ashraf Soliman

  14. navigation bottom
    AMERICAN EQUITY: Still Defends Two Suits Over Sales Practices AMERICAN . RECONTRUST CO: Faces Class Action in Wash. . risk, subclinical injuries, and property damage from exposure to . faith and fair dealing, conversion, unjust enrichment and . were appraised; (ii) the percentage of equity that mortgage .
    http://bankrupt.com/CAR_Public/110812.mbx

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    • Hello Pamela!

      Simon Property Group Reports Third Quarter Results and ...
      Oct 25, 2011 . This Mills asset has been closed since it was damaged by a historic flood in May of 2010. . and maintenance of our status as a real estate investment trust. . Equity: Mortgages and other indebtedness $16010090 $15937404 . of preferred stock and preferred unit conversions and option exercises (6) .
      http://www.prnewswire.com/news-releases/simon-property-group-reports-third-quarter-results-and-announces-increase-in-dividend-132515328.html

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  15. An Agricultural Law Research Article A Model State Land and Trust Act
    Trust statute designed to prevent tax-forced conversion of farm lands to more . 20 See Paglin & Fogarty, Equity and the Property Tax: A New Conceptual Focus,. 25 NAT'L TAX J. . acqusition of land in fee simple and the subsequent recon· veyance of . under a bona fide mortgage deed, free and clear of any contract, op .
    http://nationalaglawcenter.org/assets/bibarticles/mcclaughry_model.pdf

    Teresa




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