CFLA, Inc. Presents "Achieving Principal Reductions with Lenders by Creating Leverage" - A 7hr Attorney MCLE Workshop.
Online PR News – 07-June-2012 – Los Angeles, CA – Immediate registration is available through our website at www.CertifiedForensicLoanAuditors.com or phone our offices: 888-758-CFLA (2352).
Date: Saturday, June 30, 2012
Time: 8:30 a.m. - 5:00 p.m.
Room: Classroom style
Continuing Legal Education Credits: 7 hours (no ethics)
Included: Continental Breakfast, Morning and Afternoon Break of Coffee/Tea/Soft Drink/Bottled Water Service. Lunch on own.
Divina K. Westerfield, Esq.
Westerfield & Associates, Managing Attorney, Indianapolis Office
National Note Association, Inc., President
Attorney Divina Westerfield is active in real estate, mortgage notes, asset protection and securities law. Member of the Indiana Bar since 1984, Attorney Westerfield represented the major banks while a two year resident of Riyadh, Saudi Arabia following her graduation from Indiana University School of Law – Indianapolis, including such banks as Citibank, Chase, Deutsche, and GMAC. Upon her return to the U.S., she lived in Washington, D.C., and was a lobbyist and represented several countries as a Registered Foreign Agent and worked on government contracts. She later joined Davenport & Coates, a boutique corporate law firm that specialized in mergers & acquisitions and private placements. In 1991 she returned to her home state of Indiana after becoming a mom, and litigated cases with her own law firm for over 14 years. She invested in the Florida and Georgia real estate and note markets. She remains both an investor and an Indiana attorney, and teaches both investors and attorneys in all aspects of real estate, mortgage notes, quiet title and mortgage securitizations. She founded National Note Association in 2006 and remains its President. She maintains a real estate broker and mortgage originator licenses in the State of Florida.
Registration: 8:30 - 9:00 a.m.
Mortgage Securitization Presented by Divina K. Westerfield, Esq.: 9:00 -10:30 a.m.
-History of Mortgage Securitization
-Public Record Issues
-Mortgagee is Usually Named as MERs
-Assignment of Mortgage Not Until Default
-Note Usually Names Original Lender as Payer
-Separation of Promissory Note from Mortgage – question of Supreme Court cases vs. today’s decisions
-UCC-3: negotiable instruments (4 corner doctrine)
-UCC-9: security instruments (requirement of written assignments)
-How Mortgages Are Securitized
-Mortgage Securitizations: Private, Freddie Mac and FNMA
-Pooling and Servicing Agreement and the Investment Trusts
(a) Most Significant Issue: Closing Date of Trust
(b) Next Significant Issue: REMIC Requirements
(c) Whistleblower Status
(d) Percentage of Trusts that Are Likely Ineffective
Break: 10:30 - 10:45 a.m.
Securitization Audits Participants in Securitization are Identified: 10:45 a.m. - 12:15 p.m.
-Pooling and Servicing Agreement Requirements Of Note and Mortgage Transfers
-Significance of Transfer to MERS vs. Lender, then Depositor, then Sponsor/Seller, then Custodian and Trustee
-Review of Bloomberg Screens and Meanings
-Securitization Audit Information
Lunch: 12:15 - 1:30 p.m.
Quiet Title Presented by Divina K. Westerfield, Esq.: 1:30 p.m. – 3:00 p.m.
There will be a Break 3:00 – 3:15 p.m. as we discuss the following topics:
-Current Cases that Resulted in Quiet Title (or Not)
-What is Quiet Title: Declaratory Judgment
-Seven Steps to Quiet Title Litigation
-Title Search – Public Record Search
-Forensic Loan & Securitization Audits
-Review of Federal protection in forensic loan audits to determine RESPA, TILA, etc. claims.
-Securitization audit determines additional defendants that may have interest in property.
-Qualified Written Request
-Demand Letter to Lender – including the "kitchen sink" – any credible and in good faith cause of action
-Complaint for Quiet Title
-Don’t hesitate to file action
-Negotiations with Lien Holders and Parties of Interest
Summarize, Acknowledgements and Conclusions – How to Implement Moving Forward: 4:45 – 5:00 p.m.
Testimonials from Previous Seminars
"Class was very informative; instructors were great! Information is greatly needed if you are facing foreclosure. CFLA was opened the doors for litigating these cases."
"Very useful knowledge to help homeowners discover new options."
"I would highly recommend; with the evolution of the law in this area. It is highly important to get continued updates and to be part of a group to bounce ideas with for the good of the whole process."
"If you are serious about this business, this is the place to go."
"A must class for someone working on helping homeowners stay in their home."
"Good Class. Would recommend it to anyone involved in banking, real estate, finance or real estate litigation."
-Dr. Kenneth Eugene Lehrer