This results in the lien being imperfect or never perfected. This conclusion is unavoidable based upon the factual assumptions I have made here.The focus on forgery, fabrication and misrepresentation (robo-signing) is important. But it begs the question as to whether the original lien was perfected.Thus a satisfaction of the obligation could only be given by or on behalf of the undisclosed creditor.
That they were later sold into the secondary market does nothing for you if you are challenging the original loan, which presumably was otherwise executed and properly filed.There are two classes of such mortgages, and this conclusion regarding the perfection, priority, enforcement and viability of the lien only applies to one class.The first class is the minority by far, but it is a significant minority.And by the way (see previous post) invalidating the lien does not eliminate the obligation or even the possibility of a judgment lien if it is available to the creditor (depends upon the state).
Hence, at the time of origination neither misrepresentation of the creditor nor the PSA were involved.The other class, including subclasses, accounts for at least 85% of all loans during this period.