Petty v. Citigroup, Inc. et. al. (United States Bankruptcy Court for the Western District of North Carolina). This case arose out of alleged multiple violations of the automatic stay, an improper misapplication of the debtor's payments and an unauthorized offer of credit to a debtor under bankruptcy. The case was settled by consent and the amount of the settlement cannot be disclosed pursuant to the stipulation of the release.

Phannareth v. Citigroup, Inc. et.…

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“This is the ultimate discovery mechanism that the Banks have been avoiding for 6 years. If it is used properly, at the end of the day everyone will know everything they need to know — where the money came from and where it went, where the documents came from and where they went, who signed them and with what authority, with what knowledge etc. You can ask for proof of the formation and current existence of the trust, its status and an accounting from the Trust for money in and out. If the… Continue

Pooling and Servicing Agreements

By Aaron Wider



Pooling and Servicing Agreements



/ PRBuzz / April 18, 2011 -- The "Pooling and Servicing Agreement"is the legal document that contains the responsibilities and rights of the servicer, the trustee, and others over a pool of securitized mortgage loans. The Pooling and Servicing Agreement can be a stand-alone document or it can be part of another paper, usually called the "Prospectus." If the securitization is public, these… Continue