Good question. What I have run into are foreclosures allegedly by the trustee of our trust when neither we or the trustee (Wells Fargo) knows nothing about it. In fact, the mortgage assignment is years out of time and can't possibly be in the REMIC trust that is alleged. The assignment was signed by an officer of BofA but BofA did not own the note/mortgage at the time. Wells Fargo, more importantly, never accepted the assignment much less the note or mortgage. Of course the note is not endorsed at all. A REMIC trust can NOT accept a note endorsed in blank.

BofA is the master servicer and they have hired some other company as the servicing agent. Here in Florida the complaint must be verified. It is verified by an alleged officer of BofA, but there is no notarization. We find that this person does not even exist.

Most homeowners have no clue that the trust that owns their note and the trustee bank have nothing to do with the foreclosure and know nothing about it. In truth, BofA stole the property for the income and it actually belongs to CitiCorp or nobody at all.

How they manage to sell it and move the money is the part I do not understand myself.

All the above is likely true for any number of private label REMIC trusts.