(archive)
10-2-2007
Here Brian Smith, Wells Fargo VP, the man behind the False Affidavit, proves Wells Fargo and ORIX repeatedly breached the PSA.
www.youtube.com/watch?v=qBYeZJj16hY
(Video 1)
Below is the transcript of his testimony.
Above, Brian Smith states that Wells Fargo did not authorize ORIX to file certain lawsuits.
Above, Brian Smith states that he doesnt believe ORIX never sent Wells Fargo a notice of default for any of the lawsuits.
Above, Brian Smith states that he is not aware of ORIX ever sending certificateholders a notice of any of the lawsuits.
Above, Brian Smith states that he does not believe certificateholders ever asked Wells Fargo to file any of the lawsuits.
Above, Brian Smith admits that Wells Fargo, nor ORIX, ever attained the 25% voting rights required to file any of the lawsuits.
Below is Section 11.03 (C) of the MLMI 1999 C-1 PSA, which states that 25% of voting rights is required to file suit for the Trust.
I bet you wish you read it now!
In summary: 1) Wells Fargo never "authorize" ORIX to file any of the lawsuits (Picture 1) Not only did ORIX, the Servicer, not have 25% of the voting rights in order to file all these lawsuits it filed, but Wells Fargo, the Trustee, "didnt even know" ORIX was filing these suits and/or was "never informed". Hmm, that means either Wells Fargo was not a responsible Trustee or they are intentionally burying their heads in the sand to ORIX's illegal acts and extortion rackets... ..maybe even both? Haah! The same way James Thompson (aka Captain J) dubbed GMAC a "sleepy, shitty servicer", I dub Wells Fargo a "sleepy, shitty trustee". |
Wells Fargo, the Sleepy, Shitty, Trustee 
False Brian Smith Affidavit
Brian Smith's Deposition Transcript 
MLMI 1999 C-1 PSA
This POTW is followed-up in the 7-1-2008 POTW.