The Notarization of the Assignment Document
The assignment document needs to be notarized. The first thing you should check is if the date of the notarization is the same date as the date the person with the power of attorney, or the alleged officer of the financial institution executed the assignment. The second item you should look for is whether the notarization is from a notary in the same state as the individual who executed the assignment on the date of its execution. The notarization should have taken place on the same day and at the same location as the signature of the person making the assignment for the financial institution.
Is The Bank Still in Business?
During the past ten years, numerous mortgage companies, financial institutions and banks have gone bankrupt, have been dissolved, have merged and/or have been acquired by other financial institutions. If the bank or financial institution no longer exists, how could an employee of an institution that no longer exists execute an assignment? In these cases there is usually some sort of fraud which took place.
If the financial institution indicates there was a document attached to the note or affixed to the note, check to see if there are staple marks. If no staple marks exist on the document it is either not the original document or there was nothing actually attached to the document. If the financial institution is claiming the note is lost, check to see there has been an affidavit submitted explaining in detail the circumstances and events related to the loss of the original note. Be careful to make sure the person signing the affidavit actually was in a position to have personal knowledge about the loss of the note.
Elliot Schlissel is foreclosure defense lawyer. He has helped scores of New Yorkers fight foreclosure lawsuits and stay in their homes.
