Free Legal Forms, Documents – Contracts #mortgage #calculations


#mortgage forms

#

Free Legal Documents,
Forms and Contracts

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved. Disclaimer. Communication between you and LawDepot is protected by our Privacy Policy and not by attorney-client privilege. LawDepot is not a law firm and cannot provide legal advice. We provide information and software and you are responsible for appropriately using this material. Your use of this site is subject to our Terms of Use .

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved.
About Us | Privacy Policy | Disclaimer
LawDepot is not a law firm and cannot provide legal advice.
Use of this site is subject to our Terms of Use .


JPMorgan’s EMC Mortgage Sued Over Home Loan Documents #second #mortgage #calculator


#emc mortgage

#

JPMorgan’s EMC Mortgage Sued Over Home Loan Documents

JPMorgan Chase Co.’s EMC Mortgage, facing homeowner lawsuits over foreclosures, was sued by the trustee of a mortgage portfolio for refusing to turn over documents detailing the quality of loans bought by the trust.

Wells Fargo Co. the trustee, is seeking access to files for more than 2,000 underlying mortgages in the Bear Stearns Mortgage Funding Trust 2007-AR2, according to the complaint filed today in Delaware Chancery Court in Wilmington.

“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed. Lending practices have also pitted mortgage-bond investors against banks over misrepresentations such as overstatements of borrowers’ income and inflated appraisals.

Christine Holevas, a spokeswoman for New York-based JPMorgan, declined to comment.

Wells Fargo said it needs access to the documents to answer “serious” questions raised by investors in the trust about whether EMC breached representations and warranties regarding the quality of option-adjustable rate mortgage loans the trust bought.

Investor Questions

An investor in the trust, who owns 42 percent of the outstanding face amount of the portfolio’s certificates, questioned the condition of underlying loans, Wells Fargo said in the complaint, citing an August letter it received from David Grais, the investor’s attorney.

Grais, a partner at New York-based Grais Ellsworth LLP, represents the federal Home Loan Banks of Seattle and San Francisco and Charles Schwab Corp. in litigation seeking to force banks including Bank of America Corp. and JPMorgan to repurchase mortgage-backed securities because they allegedly misrepresented the quality of the loans.

In a September interview, Grais said he was also working with two hedge funds that hadn’t filed suits and had contacted trustees with similar complaints. He wouldn’t name the funds.

In the Aug. 31, 2010, letter to San Francisco-based Wells Fargo, Grais said he had investigated 1,317 of the loans held by the trust and determined that EMC appeared to have violated its representations with respect to 938 loans, according to the complaint.

Grais didn’t immediately return a phone call today seeking comment on the complaint.

400 Loans

Wells Fargo began requesting the documents in January last year and reached an agreement with EMC in December on access to files for 400 loans. EMC had until Jan. 12 to produce documents on the first 100 loans, according to the complaint.

EMC failed to produce the documents “culminating more than a year of good-faith negotiations and misplaced patience by the trustee in a futile attempt to avoid litigation,” Wells Fargo said in the complaint.

The case is Bear Stearns Mortgage Funding Trust 2007-AR2 by Wells Fargo Bank N.A. as Trustee v. EMC Mortgage Corp. CA6132, Delaware Chancery Court (Wilmington)

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Self-Prepared Texas Documents #texas #divorce,texas #name #change,texas #marital #separation #agreement,divorce #forms, #divorce #law, #divorce #papers,


#

Divorce Law Texas Document Pricing*

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Self-Prepared Documents – You prepare the documents. See your documents being created as you answer the online questionnaire. Download, print and use your documents immediately after purchase.

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Serving the pro se divorce community since 1997


LUKE SHORT, GAMBLER AND GUNFIGHTER #dodge #city, #kansas, #dodge #city #peace #commission, #lawman, #lawmen, #gunfighters,


#

Luke Short was grabbed from behind and pulled off the boardwalk in front of the Oriental Saloon. He whirled and saw Charlie Storms beginning to draw. Luke pulled his short barreled Colt and fired. The .45 caliber bullet slammed into Storms’ heart, blew him backwards, and set his shirt afire. Luke shot him again as he went down.
He stood there a moment looking down at Storms, then turned to Masterson. You sure as hell pick some of the damnedest people for friends, Bat!

Luke Short, Tombstone, Arizona Territory Feb. 25, 1881

Almost all historians have depicted Luke Short as a citified dandy gambler, probably because so little was known about his early years, but Wayne Short, Luke’s great-nephew has changed that view with his new biography.

Luke, who left home at thirteen after cutting up the school bully, indeed, was fastidious in his dress, but for six years he was a thirty dollar-a-month cowhand on the dangerous longhorn drives from Texas to the Kansas rail towns. He hunted buffalo for their hides during the heydays of 1874-75, scouted and rode dispatch for General Crook and Major Thornburgh during the Sioux and Cheyenne uprising of 1876-78, traded with the Sioux and Cheyenne around Camp Robinson in northwestern Nebraska and finally was arrested for trading whiskey to the Indians for buffalo robes.

He escaped from the army escort which was taking him to Omaha on the train and made his way to Denver and never worked again except as a high rolling professional gambler in the cowtowns and mining camps all over the west. He was no slouch with a six-shooter, either. This enigmatic man was close friends with Bat Masterson and Wyatt Earp and shot it out with some of the deadliest gunmen of that era.

“They called him ‘The Undertaker’s Friend,’ because he shot ’em where it didn’t show.”—Stewart H. Holbrook

Luke Short: A Biography
This is the first full biography of the famous gambler, and his story is told by his great-nephew, Wayne Short.

Here is what two reviews said about “Luke Short: A Biography”:

“Luke Short: A Biography” is an immensely readable account not just of the adventure-packed life of its subject — one that was brief even for its times; he was 39 when he died in 1893 — but of the period in which he lived. A friend of Wyatt Earp and Bat Masterson, and a veteran of the Dodge City Saloon War, Luke Short roamed the West working a variety of jobs. He killed a man in Tombstone in 1881.

Wayne Short has worked with family records and recollections as well as published documents to chronicle his colorful relative. In an earlier biography for which Wayne Short supplied data, the author wrote, “Luke Short’s personal tragedy was that in less than 40 years he outlived his times.”

J.C. Martin
The Arizona Daily Star

“Wayne Short, the author who gave us those great Alaskan books: “The Cheechakoes,” “This Raw Land,” and “Albie, and Billy the Sky-Pilot” is back with a biography of his great-uncle, the famous Old West gambler and gunfighter, Luke Short. I rate the book a masterful job. It not only is the adventurous story of one man’s life, but also a social and economic comment of the period in which Luke Short lived, 1854-1893. Well done!”

Robert N. DeArmond
Historian, author, former editor of
Alaska Magazine and the Alaskan Journal

Wayne Short comes from a long line of pioneering people. In 1859, his great grandfather crowded his large family into ox-drawn wagons and headed West. They finally settled on the Red River in Texas where they farmed and fought Comanches and Kiowas. Most of this indomitable little man’s sons grew to be cattlemen, but one, Luke Short, sought out the boomtowns of the West and became one of the most well-known gamblers and gunfighters of that era.

The next two generations of Shorts turned west and north seeking new country and Wayne Short was born in Nadaburg, Arizona seventy years ago. He served in the Navy’s amphibious forces during World War II and made the invasions of Iwo Jima, Okinawa, and the Philippines. He and his parents and two brothers moved to an isolated island in Southeastern Alaska in 1946 where Wayne learned to fish commercially and live off the land. Mr. Short has worked as a trapper, bounty hunter, cannery tender skipper, carpenter, shipwright, steam engineer, and commercial fisherman.

In 1954, Wayne brought his bride, Barbara, north to share their isolated life. They now have five sons and five grandchildren. Wayne has been writing and selling short stories, articles, and books for thirty-five years. Many of his stories tell of the remarkable but true stories of the adventures he and his family shared in Alaska. His latest dream was to research and write about his great uncle, Luke Short, the notorious Arizona Territory gambler and gunfighter who was a friend of men like Wyatt Earp and Bat Masterson. In order to do the proper research, Wayne and Barbara moved to Tombstone, and in 1996, Luke Short: a Biography, became a reality.

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Devil’s Thumb Press


Lead Poisoning And The Brain – Cognitive Deficits And Mental Illness #lead #and #the #brain,


#

Lead Poisoning And The Brain – Cognitive Deficits And Mental Illness

By Michelle Naylor – Behavioural Health Sciences, Sydney University
Fact Sheet created 21 October 2005

Over the past few decades, research on the neurotoxic effects of lead has predominantly focused on cognitive deficits in children and infants. Evidence demonstrating various learning and behavioural problems resulting from lead exposure is voluminous, and links have been discovered between lead-poisoned children and deficits in a variety of functions.

Some problems observed in the classroom by Anne Winner (1994) that have been associated with lead poisoning include a mild decrease in IQ, slower response time, central auditory processing problems, word finding difficulties, sequencing difficulties, and perceptual integration problems.

Even at low BPb levels, lead exposure has been associated with deficits in the early developmental years. Canfield et al. s study (2003) on the effects of low level lead poisoning ( 10 �g/dL) on cognitive functioning in children and infants, found that IQ declined 7.4 points as average blood lead concentrations increased from 1 �g/dL to 10 �g/dL, and then declined 4.6 points for every 10 �g/dL increase after that.

These studies and others have provided strong support for the role of Pb as a neurotoxin in children and infants. So how do developmental disturbances caused by exposure to lead manifest later in life?

Young children and infants are the most vulnerable to the effects of lead poisoning. It can, however, have a detrimental effect on the cognitive abilities of adults as well.

A case study on adult monozygotic twins with lead poisoning, both who were retired painters, had typical patterns of cognitive difficulties following chronic lead exposure. This pattern included predominant impairments in the domains of attention/executive function, visuospatial/visual motor functioning, short-term memory, and (for one of the brothers) confusion and fatigue. After exposure to toxicants such as lead in adulthood, cognitive deficits tend to be specific, not generalized, and not affecting language centres in the brain (Weisskopf et al. 2004).

Lead exposure has also been linked to behavioural problems. In his landmark study, Needleman (1979) measured dentine Pb levels in 312 first-and second-grade students (mean age 7.3 years), and administered neurobehavioural tests. The results showed that behavioural and performance problems in primary school children were more prevalent with increasing dentine (teeth) lead levels. These behavioural problems included hyperactivity, distractibility, impulsivity, disorganisation, non-persistence, inability to follow simple instructions and overall poor functioning.

When the subjects were re-examined in 1988 (mean age 18.4 years), results showed that increased dentine Pb levels were associated with an increased risk of not graduating from high school, reading difficulties significant enough to be defined a disability, lower class standing in high school, increased absenteeism, lower vocabulary and grammatical-reasoning scores, increased reaction times, and slower finger tapping (Needleman, 1990). Lead levels were also inversely related to self-reports of minor delinquent activity. It was concluded on the basis of these results that exposure to lead in childhood is associated with deficits in neurobehavioural functioning later in life.

These and other studies such as those by Needleman (2002), in which elevated body bone lead concentrations were found to be associated with elevated risk for adjudicated delinquency, and Dietrich et al (2001), support the relationship between lead exposure and juvenile delinquency. Given these findings, and the results of studies such as those by Serene Olin and Mednick (1996) in which people with schizophrenia were more likely to have had behavioural problems before the onset of the disorder then the general population, it was only a matter of time before the effects of lead poisoning on psychological function were to be investigated.

The results from this study are consistent with the neurodevelopmental hypothesis of schizophrenia, which posits that the illness is related to abnormal brain development (Nopoulos et al, 1995; Marenco Weinberger, 2000).

At a conference in early 2004, research findings were presented on a study that examined the relationship between lead exposure during the second trimester of pregnancy and schizophrenia. The longitudinal study involved 20 000 people who were born between 1959 and 1967. The mothers were identified at their first prenatal visit, and blood samples were taken at every prenatal visit. The man who initiated the study, Jacob Yerushalmi had since died, and Opler et al. (2004) followed up the schizophrenia outcomes. Potential cases of schizophrenia spectrum disorder from Yerushalmi s study were identified using computerized records from inpatient, outpatient, and pharmacy databases. After standardized procedures involved in making or confirming diagnoses were carried out, forty-four of the seventy one cases established as having a schizophrenia spectrum disorder had second trimester maternal serum samples available for analysis. Because only serum samples, and, not whole blood specimens were available for analysis, an indirect biologic marker of lead exposure, d -aminolevulinic acid (d -ALA), was used to determine blood lead levels. Mid-pregnancy serum samples were sought for this analysis, because, unlike in the very early and very late stages of pregnancy, much more is known about the behaviour of d -ALA in the mid-pregnancy period. The results indicated that during mid-gestation, if levels of d -ALA are high (=15 �g/dL), the chance of having schizophrenia later in life is doubled.

On the basis of these results, the authors have suggested that more study is required to further establish, and to investigate possible biological mechanisms involved in the relationship between elevated blood lead levels during the second trimester of pregnancy and the development of schizophrenia.

The damage that lead poisoning can have on the neuropsychological functioning of the central nervous system can be devastating. It can affect anybody, at any age, although children are most often the worst affected, as their cognitive development can be disrupted. Now we are beginning to realize that there are consequences beyond what was once thought the neurological endpoint for this harmful substance, and hopefully we will one day fully understand the mechanisms by which lead destroys the mind.

  1. Canfield R, Henderson C, Slechta D, Cox C, Jusko T Lanphear B (2003) Intellectual Impairment in Children with Blood Lead Concentrations below 10�g per Decilitre The New England Journal of Medicine Vol. 348(16): 1517-1526, Massachusetts Medical Society, United States [LID 7088]
  2. Dietrich KN, Ris MD, Succop PA, Berger OG Bornschein RL (2001) Early Exposure to Lead and Juvenile Delinquency Journal of Neurotoxicological Teratology
  3. Vol. 23(6): 511-8, [LID 7402]
  4. Marenco S Weinberger DR (2000) The Neurodevelopmental Hypothesis of Schizophrenia: Following a Trail of Evidence from Cradle to Grave Developmental Psychopathology Vol. 12(3): 501-27
  5. Nopoulos P, Torres I, Flaum M, Andreasen NC, Ehrhardt JC Yuh WT (1995) Brain Morphology in First-Episode Schizophrenia American Journal of Psychiatry Vol. 152(12): 1721-3
  6. Needleman HL, Gunnoe C, Leviton A, Reed R, Peresie H, Maher C Barrett P (1979) Deficits in Psychologic and Classroom Performance of Children with Elevated Dentine Lead Levels The New England Journal of Medicine Vol. 300(13): 689-695, [LID 7454]
  7. Needleman HL, McFarland C, Ness RB, Fienberg SE Tobin MJ (2002) Bone Lead Levels in Adjudicated Delinquents: A Case Control Study Neurotoxicology and Teratology Vol. 24(6): 711-717
  8. Needleman HL, Schell A, Bellinger D, Leviton A Allred EN (1990) The long-term effects of exposure to low doses of lead in childhood: An 11-year follow-up report The New England Journal of Medicine Vol. 322(2): 83-88
  9. Opler MGA, Brown AS, Graziano J, Desai M, Zheng W, Schaefer C, Factor-Litvak P Susser ES (2004) Prenatal Lead Exposure, d -Aminolevulinic Acid and Schizophrenia Environmental Health Perspectives Vol. 112(5), [LID 7408]
  10. Serene Olin S Mednick S (1996) Risk Factors of Psychosis: Identifying Vulnerable Populations Premorbidly Schizophrenia Bulletin Vol. 22(2): 223-40 [LID 7462]
  11. Swan N (interviewer); Opler MGA, Susser E Jones P (2004) Schizophrenia Risks The Health Report, Radio National, Australian Broadcasting Commission (ABC) March 8, 2004 [LID 7409]
  12. Weisskopf MG, Howard H, Mulkern RV, White R, Aro A, Oliveira S Wright RO (2004) Cognitive Deficits and Magnetic Resonance Spectroscopy in Adult Maonozygotic Twins with Lead Poisoning Environmental Health Perspectives Vol. 112(5)
  13. Winner A (1994) The Early Lead Poisoned Child in the Classroom: Symptomatology and Intervention for School Psychologists and School-Based Personnel, in LEAD Action News Vol. 2(3), The LEAD Group Inc, Australia [LID 322]

The LEAD Group Inc. Fact Sheet Index


JPMorgan’s EMC Mortgage Sued Over Home Loan Documents #ing #orange #mortgage


#emc mortgage

#

JPMorgan’s EMC Mortgage Sued Over Home Loan Documents

JPMorgan Chase Co.’s EMC Mortgage, facing homeowner lawsuits over foreclosures, was sued by the trustee of a mortgage portfolio for refusing to turn over documents detailing the quality of loans bought by the trust.

Wells Fargo Co. the trustee, is seeking access to files for more than 2,000 underlying mortgages in the Bear Stearns Mortgage Funding Trust 2007-AR2, according to the complaint filed today in Delaware Chancery Court in Wilmington.

“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed. Lending practices have also pitted mortgage-bond investors against banks over misrepresentations such as overstatements of borrowers’ income and inflated appraisals.

Christine Holevas, a spokeswoman for New York-based JPMorgan, declined to comment.

Wells Fargo said it needs access to the documents to answer “serious” questions raised by investors in the trust about whether EMC breached representations and warranties regarding the quality of option-adjustable rate mortgage loans the trust bought.

Investor Questions

An investor in the trust, who owns 42 percent of the outstanding face amount of the portfolio’s certificates, questioned the condition of underlying loans, Wells Fargo said in the complaint, citing an August letter it received from David Grais, the investor’s attorney.

Grais, a partner at New York-based Grais Ellsworth LLP, represents the federal Home Loan Banks of Seattle and San Francisco and Charles Schwab Corp. in litigation seeking to force banks including Bank of America Corp. and JPMorgan to repurchase mortgage-backed securities because they allegedly misrepresented the quality of the loans.

In a September interview, Grais said he was also working with two hedge funds that hadn’t filed suits and had contacted trustees with similar complaints. He wouldn’t name the funds.

In the Aug. 31, 2010, letter to San Francisco-based Wells Fargo, Grais said he had investigated 1,317 of the loans held by the trust and determined that EMC appeared to have violated its representations with respect to 938 loans, according to the complaint.

Grais didn’t immediately return a phone call today seeking comment on the complaint.

400 Loans

Wells Fargo began requesting the documents in January last year and reached an agreement with EMC in December on access to files for 400 loans. EMC had until Jan. 12 to produce documents on the first 100 loans, according to the complaint.

EMC failed to produce the documents “culminating more than a year of good-faith negotiations and misplaced patience by the trustee in a futile attempt to avoid litigation,” Wells Fargo said in the complaint.

The case is Bear Stearns Mortgage Funding Trust 2007-AR2 by Wells Fargo Bank N.A. as Trustee v. EMC Mortgage Corp. CA6132, Delaware Chancery Court (Wilmington)

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JPMorgan’s EMC Mortgage Sued Over Home Loan Documents #home #loans #rates


#emc mortgage

#

JPMorgan’s EMC Mortgage Sued Over Home Loan Documents

JPMorgan Chase Co.’s EMC Mortgage, facing homeowner lawsuits over foreclosures, was sued by the trustee of a mortgage portfolio for refusing to turn over documents detailing the quality of loans bought by the trust.

Wells Fargo Co. the trustee, is seeking access to files for more than 2,000 underlying mortgages in the Bear Stearns Mortgage Funding Trust 2007-AR2, according to the complaint filed today in Delaware Chancery Court in Wilmington.

“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed. Lending practices have also pitted mortgage-bond investors against banks over misrepresentations such as overstatements of borrowers’ income and inflated appraisals.

Christine Holevas, a spokeswoman for New York-based JPMorgan, declined to comment.

Wells Fargo said it needs access to the documents to answer “serious” questions raised by investors in the trust about whether EMC breached representations and warranties regarding the quality of option-adjustable rate mortgage loans the trust bought.

Investor Questions

An investor in the trust, who owns 42 percent of the outstanding face amount of the portfolio’s certificates, questioned the condition of underlying loans, Wells Fargo said in the complaint, citing an August letter it received from David Grais, the investor’s attorney.

Grais, a partner at New York-based Grais Ellsworth LLP, represents the federal Home Loan Banks of Seattle and San Francisco and Charles Schwab Corp. in litigation seeking to force banks including Bank of America Corp. and JPMorgan to repurchase mortgage-backed securities because they allegedly misrepresented the quality of the loans.

In a September interview, Grais said he was also working with two hedge funds that hadn’t filed suits and had contacted trustees with similar complaints. He wouldn’t name the funds.

In the Aug. 31, 2010, letter to San Francisco-based Wells Fargo, Grais said he had investigated 1,317 of the loans held by the trust and determined that EMC appeared to have violated its representations with respect to 938 loans, according to the complaint.

Grais didn’t immediately return a phone call today seeking comment on the complaint.

400 Loans

Wells Fargo began requesting the documents in January last year and reached an agreement with EMC in December on access to files for 400 loans. EMC had until Jan. 12 to produce documents on the first 100 loans, according to the complaint.

EMC failed to produce the documents “culminating more than a year of good-faith negotiations and misplaced patience by the trustee in a futile attempt to avoid litigation,” Wells Fargo said in the complaint.

The case is Bear Stearns Mortgage Funding Trust 2007-AR2 by Wells Fargo Bank N.A. as Trustee v. EMC Mortgage Corp. CA6132, Delaware Chancery Court (Wilmington)

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE


Free Legal Forms, Documents – Contracts #top #mortgage #lenders


#mortgage forms

#

Free Legal Documents,
Forms and Contracts

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved. Disclaimer. Communication between you and LawDepot is protected by our Privacy Policy and not by attorney-client privilege. LawDepot is not a law firm and cannot provide legal advice. We provide information and software and you are responsible for appropriately using this material. Your use of this site is subject to our Terms of Use .

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved.
About Us | Privacy Policy | Disclaimer
LawDepot is not a law firm and cannot provide legal advice.
Use of this site is subject to our Terms of Use .


JPMorgan’s EMC Mortgage Sued Over Home Loan Documents #15 #year #mortgage #rates


#emc mortgage

#

JPMorgan’s EMC Mortgage Sued Over Home Loan Documents

JPMorgan Chase Co.’s EMC Mortgage, facing homeowner lawsuits over foreclosures, was sued by the trustee of a mortgage portfolio for refusing to turn over documents detailing the quality of loans bought by the trust.

Wells Fargo Co. the trustee, is seeking access to files for more than 2,000 underlying mortgages in the Bear Stearns Mortgage Funding Trust 2007-AR2, according to the complaint filed today in Delaware Chancery Court in Wilmington.

“The trustee has repeatedly requested that EMC provide access to the subject documents,” Wells Fargo said in the complaint. “EMC has played proverbial ‘rope a dope’ and otherwise continued to drag its feet, and has produced nothing.”

Claims of wrongdoing by banks and loan servicers triggered a 50-state investigation last year into whether hundreds of thousands of foreclosures were properly documented as the housing market collapsed. Lending practices have also pitted mortgage-bond investors against banks over misrepresentations such as overstatements of borrowers’ income and inflated appraisals.

Christine Holevas, a spokeswoman for New York-based JPMorgan, declined to comment.

Wells Fargo said it needs access to the documents to answer “serious” questions raised by investors in the trust about whether EMC breached representations and warranties regarding the quality of option-adjustable rate mortgage loans the trust bought.

Investor Questions

An investor in the trust, who owns 42 percent of the outstanding face amount of the portfolio’s certificates, questioned the condition of underlying loans, Wells Fargo said in the complaint, citing an August letter it received from David Grais, the investor’s attorney.

Grais, a partner at New York-based Grais Ellsworth LLP, represents the federal Home Loan Banks of Seattle and San Francisco and Charles Schwab Corp. in litigation seeking to force banks including Bank of America Corp. and JPMorgan to repurchase mortgage-backed securities because they allegedly misrepresented the quality of the loans.

In a September interview, Grais said he was also working with two hedge funds that hadn’t filed suits and had contacted trustees with similar complaints. He wouldn’t name the funds.

In the Aug. 31, 2010, letter to San Francisco-based Wells Fargo, Grais said he had investigated 1,317 of the loans held by the trust and determined that EMC appeared to have violated its representations with respect to 938 loans, according to the complaint.

Grais didn’t immediately return a phone call today seeking comment on the complaint.

400 Loans

Wells Fargo began requesting the documents in January last year and reached an agreement with EMC in December on access to files for 400 loans. EMC had until Jan. 12 to produce documents on the first 100 loans, according to the complaint.

EMC failed to produce the documents “culminating more than a year of good-faith negotiations and misplaced patience by the trustee in a futile attempt to avoid litigation,” Wells Fargo said in the complaint.

The case is Bear Stearns Mortgage Funding Trust 2007-AR2 by Wells Fargo Bank N.A. as Trustee v. EMC Mortgage Corp. CA6132, Delaware Chancery Court (Wilmington)

Before it’s here, it’s on the Bloomberg Terminal. LEARN MORE


Free Legal Forms, Documents – Contracts #30 #year #fixed #mortgage #rates


#mortgage forms

#

Free Legal Documents,
Forms and Contracts

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved. Disclaimer. Communication between you and LawDepot is protected by our Privacy Policy and not by attorney-client privilege. LawDepot is not a law firm and cannot provide legal advice. We provide information and software and you are responsible for appropriately using this material. Your use of this site is subject to our Terms of Use .

2002-2016 LawDepot (Sequiter Inc.). All Rights Reserved.
About Us | Privacy Policy | Disclaimer
LawDepot is not a law firm and cannot provide legal advice.
Use of this site is subject to our Terms of Use .