Remic Trust Mortgage Assignment

Summary

In Massachusetts, a REMIC trust cannot be assigned a mortgage by the land court bypassing the Pooling and Servicing Agreement. If a servicer misinterprets a cease and desist letter, clarify your position and consider a Notice of Error under RESPA. Rescinding a mortgage due to fraud is complex and requires proving misrepresentation, reliance, and damages. Massachusetts contract law does not automatically make rescission effective upon notice; the other party must consent. Consult a local attorney for guidance.

Full Conversation

I sent a cease and desist letter to the alleged mortgage servicer asking to stop collection and foreclosure proceedings without mentioning RESPA. Servicer responded to it alleging that my letter was a request for debt validation and/or request for information. I did not ask for any information just provided reasons why the foreclosure would be void because of notice of sale and default letter violating * s * and * s35a. How should I respond?
It sounds like the servicer misunderstood your letter. You might want to clarify your position by responding with:
- Explicitly state that your letter was not a request for debt validation or information.
- Reiterate your claim that the foreclosure is void due to violations of MGL c. *, s. * and s. 35A.
- Cite specific violations and request a formal acknowledgment.
Would you like assistance drafting the response?
Should that be a notice of error under RESPA or supplemental cease and desist letter?
You might consider sending a Notice of Error under RESPA (Real Estate Settlement Procedures Act) to address the servicer's misunderstanding and specify the errors related to the foreclosure process. This formalizes your complaints and requires the servicer to respond within a certain timeframe. Would you like more information on how to draft a Notice of Error under RESPA?
Can I rescind the mortgage under contract law claiming that the contract is void due to fraud in appraisal, inducement etc. given that 3 year SOL under TILA has already run?
Case Rating: *
In Massachusetts, rescinding a mortgage contract due to fraud in appraisal or inducement can be complex. While the *-year statute of limitations under TILA (Truth in Lending Act) has run, you might still pursue rescission under state contract law if you can prove fraud. This typically requires demonstrating:
- Misrepresentation or concealment of material facts.
- Your reliance on the misrepresentation.
- Damages resulting from the fraud.
You might want to consult a local attorney for detailed guidance. Would you like help drafting a response or have more questions?
what is the relevant contract fraud statute in MA?
Case Rating: *
In Massachusetts, contract fraud is generally governed by common law principles rather than a specific statute. However, relevant statutes include:
- Massachusetts General Laws (MGL) Chapter 93A: Prohibits unfair and deceptive trade practices.
- MGL Chapter *, Section 2A: Statute of limitations for fraud claims, which is typically three years.
Would you like more detailed information or have another legal question?
if i rescind under MA contract law is the rescission effective upon sending the rescission notice as under TILA? how much time does the other party have to respond?
Case Rating: *
Rescission under Massachusetts contract law is not automatically effective upon sending the notice like under TILA. The other party must acknowledge and consent to the rescission for it to be effective. There is no specific timeframe for the other party to respond under Massachusetts contract law.
Would you like more information on drafting a rescission notice?