So who are you & why are you here?

Semantics Make a Difference — CREDITOR and NON-BANK

Posted on March 17, 2010 by Neil Garfield

Since I am making the point repeatedly in emails and
calls I thought I might bring it up on the blog.

I have changed one of my
suggested strategies and I no longer recommend the immediate
introduction of the term “pretender lender.”


THERE IS A DIFFERENCE
BETWEEN THE USE OF THE WORDS “CREDITOR” AND “LENDER”.

THERE IS A DIFFERENCE
BETWEEN THE USE OF THE WORDS “LENDER, “SERVICER”, “REAL PARTY IN
INTEREST” ETC. AND “NON-BANK.”


Here’s the deal. If you use the word “lender” you are already
conveying the sense that this is a legitimate loan, that your
opposition is a party “in interest” who has advanced funds to the
homeowner borrower, and that you are trying to dance your way around
the inevitable. Anything you say
after that is an attempt to regain ground you already lost. So object
when they use the wrong terms and don’t fall into the trap of using the
wrong terms yourselves.

It is far more accurate to refer to your opposition as a non-bank participant in the
securitization scheme.


It is often the
case that the parties seeking foreclosures are NOT banks or any kind of
financial institutions. But even if the opposition says they represent
“Wells Fargo” you should remind the court that Wells Fargo is acting in a
non-bank capacity — they neither advanced funds nor processed the loan.


Then when you say you are seeking the identity of the creditor, the court
won’t be confused. And by pounding on your opposition with the correct
statement that they are a non-creditor seeking to enforce the mortgage
without any interest in the note
, it becomes clearer to the court as
well.


Words make a difference. If you want to use the term
“pretender lender” bring it up AFTER you have properly introduced the
subject. This is a CHANGE FROM PRIOR SUGGESTIONS I HAVE MADE. Experience
reported to me from lawyers and pro se litigants in court indicates
that the words “pretender lender” are cute and might make a point, but
not until you are fairly sure that you have the judge on your side or at
least wavering.

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