" ... The Courts are wrong when they say the assignment could be theoretically ratified and then concluding that therefore the assignment is voidable not void. That is circular logic. They are looking at the assignment and they are concluding that there must have been a transaction if there was an assignment. The proper way to look at it is: if there is a transaction then the assignment could be valid and could be ratified. If there is no transaction, there is nothing to ratify and therefore the assignment is void, not voidable. ...
A holder in due course is a party who purchased the loan in good faith and without knowledge of the borrower’s defenses. Since the Trust is far removed from the alleged “loan” closing it would be a futile effort to say that the trust was not operating in good faith or had knowledge of the borrower’s defenses.
When they purchase the paper, even if it is fatally defective, they become holders in due course free from the defenses of the borrower.
So why don’t they assert that position? Obviously this was not an oversight. The only possible reason that does not strain credulity is that they didn’t pay for the loan.
If they did not pay for the loan then it is inescapable that there was no transaction in the real world in which the Trust was a buyer of loans that included whatever loan you are litigating." [emphasis added]
~ Neil Garfield (full article https://livinglies.wordpress.com/2016/06/03/void-assignments/
Comments: Can you say "Proof of Purchase?" How about "cashier's check, wire transfer, bank draft receipt, electronic or paper financial purchase transaction of ANY kind to X from Y? " Hello? Mr. Trustee of the Trust I am speaking to you, you are a real company right? Okay, so you are "entrusted" to protect the interests of this Trust right, and these people over here are claiming I owe a whole lot of money to this Trust --- but you are saying ... ummm... you as "Trustee" are not making ANY claim against me and that you have NO proof of purchase of the transaction in which the Trust purchased and paid for value the interest in MY loan? Wouldn't that also mean you can't or won't and aren't making a claim that the Trust is suffering any financial loss or equitable injury due to non-payment of MY loan? So... ummm. ONLY this third party debt-collector and "mortgage-servicer" is making ANY claim whatsoever against me and my property while your Trust, the alleged beneficiary and creditor and INJURED PARTY won't / can't / isn't about to / DECLINES AND FAILS TO prove it purchased diddly squat? Well, logic tells me you will collect the same from me and my property: i.e., Diddly Squat. You have had no transaction: that Assignment is VOID.
AND NOT TO MENTION: That is MERELY an Assignment of Mortgage or THE Deed of Trust -- it PURPORTS to document that ONLY the security instrument changed hands, BUT INDICATES NOTHING OF THE NOTE OR THE ACTUAL DEBT INSTRUMENT itself was sold from party A to party B. SUPREME COURTS OF SEVERAL STATES have already ruled that an assignment of the security without proof of purchase of the debt itself DOES NOT CONVEY ownership of the beneficial interest in the LOAN to party B. As did Carpenter v. Longan, SCOTUS before the turn of the 20th century. and which STILL STANDS. As does basic common sense.
So.... you might want to produce the PROOF OF PURCHASE TRANSACTION and subsequent Assignment of the NOTE filed in the County Clerk Recorder's Office evidencing the Trust purchased the "loan" and come back with that golden ticket. Until then, let's just pack up and go home.
LOGIC. O! Beautiful life-saving, brain-balancing Lady Logic:
You ARE here to save the day! And we shall blow the trumpets loud and clear to announce your arrival. We humans have skewed and screwed up badly. Teach us now! For just as our brains are designed with left and right lobes and front and back regions, the science of logic resets this delicate architecture into Balance. Oh don't leave until you set us back onto that foundation called INTEGRITY, so our minds arrest and stop this toppling mess!
And so our hearts ring true in harmony with now our cooler healing brains, and we promise you, dear Lady, to learn again how to stand up straight and good and grounded, under the Light of Reason and Honor.;
While you teach us what is Right and Correct, beaming it straight into our hearts, bypassing our troublesome brains at first; Then may our minds stay cool and quiet enough to hear you, and tune in! So we may join Lady Logic in your welcoming chorus ~ Lady, please please don't leave us like this ~ until you've saved the day.