In an interview conducted on Saturday October 27th 2012, Queens Foreclosure Attorney Brian McCaffrey said “this case could have been fought and won on its merits” and “it’s a shame that Deutsche Bank was allowed to coast through the process without ever having to prove to the Court that they actually had standing to foreclose”
On October 24, 2012 a foreclosure process that began more than 3 years ago came full circle when the property located at 150-15 108th Avenue, Jamaica, NY 11433 was sold by Deutsche Bank for $245,100.00 to an LLC named RDG QUEENS XVIII LLC.
The LLC making the purchase was registered with the NYS DOS by the accounting firm ofSINGER & FALK, INC. whose CEO is Steven Falk. When contacted for this article Mr. Falk was unavailable for comment.
The Queens Foreclosure case was entitled DEUTSCHE BANK NATIONAL TRUST vs. MBAH, CLEMENT ETAL, under index number: 027411/2009.
Although it appears from the record that the prior owner CLEMENT MBAH attempted to protect his interest by making motions in court, his pro-se attempts were too little – too late.
In a decision issued on July 11, 2011 the HONORABLE KEVIN J. KERRIGAN held that the… “Motion by Mbah to vacate the default judgment of foreclosure and sale, issued by this Court on June 15, 2010, as against him is denied. Movant has failed to set forth an excuse for his default or a meritorious defense to foreclosure”
McCaffrey expressed disappointment saying “This case is only one of many where the Plaintiff who did not own the mortgage… was never properly challenged or their case would have failed.”
To understand what Mr. McCaffrey is talking about one needs to look at the history of the ownership of this mortgage which was securitized with thousands of others during the housing and mortgage boom.
You see Deutsche Bank was the “trustee” for a NY established Trust that was formed in 2004 under NY Trust Law. Under NY Law the Trust had a closing date of September 29, 2004, and no mortgage loan could have been assigned into the Trust after that date. NY Trust law states that any act made contrary to the interest of the Trust is void. Moreover, under IRS Code it was unlawful to transfer any asset into the Trust after the closing date.