California State Court Analysis of Real Property Claims and Title Actions I
The proper defendants to typically sue in a lender litigation are the Originator, Servicer, Trustee of Securitized Trust and Foreclosure Trustee (if applicable). The proper Origination documents are Uniform Residential Loan Application which includes information such as the type of mortgage and terms of loan, property information and purpose of loan,borrower information, employment information, monthly income and combined housing expense information and assets and liabilities. Another closing document is the Federal Truth-In-Lending Disclosure Statement which includes the amount of the payment, borrower’s income versus payment. The buyer’s closing statement shows the new loan charges, loan processing fee, banking fee, appraisal fee, and processing fee. There is a settlement statement, a specific disclosure if it is an adjustable rate note, and a balloon rider if there is a balloon payment. These are all the necessary documents to analyze origination claims.