Securitization Audit Report Sample

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COPYRIGHT 2011 CERTIFIED FORENSIC LOAN AUDITORS, LLC COPYRIGHT 2011

-All Rights Reserved-

CERTIFIED FORENSIC LOAN AUDITORS, LLC
13101 West Washington Blvd., Suite 140, Los Angeles, CA 90066
Phone: 310-432-6304; Sales@CertifiedForensicLoanAuditors.com
www.CertifiedForensicLoanAuditors.com

PROPERTY
SECURITIZATION ANALYSIS REPORT
TM

This is a Securitization Analysis Report and not a Forensic Audit Report

Prepared for:
Ed Baumann

On behalf of:
John Doe

For Property Address

7777 Eagle Lane
Santa Barbara, CA 93111

Prepared on:
December 15, 2012

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SECTION 1: TRANSACTION DETAILS

BORROWER & CO-BORROWER:

BORROWER CO-BORROWER
John Doe

None

CURRENT ADDRESS SUBJECT ADDRESS

7777 Eagle Lane, Santa Barbara, CA 93111

7777 Eagle Lane, Santa Barbara, CA 93111

TRANSACTION PARTICIPANTS

AMOUNT MORTGAGE SERVICER
MORTGAGE
NOMINEE/BENEFICIARY
$520,000.00

JPMorgan Chase Bank, NA
Monroe, LA

Mortgage Electronic
Registration Systems, Inc.
(MERS)
PO Box 2026
Flint, MI 48501-2026
(888)679-MERS

ORIGINAL MORTGAGE
LENDER
MORTGAGE TRUSTEE TITLE COMPANY
Metrocities Mortgage, LLC
15301 Ventura Blvd.
Suite D300
Sherman Oaks, CA 91403
Fidelity National Loan
Portfolio Solutions

First American Title
Insurance Company

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SECTION 2: SECURITIZATION
SECURITIZATION PARTICIPANTS:

ORIGINATOR/LENDER SPONSOR/SELLER DEPOSITOR

PHH MORTGAGE
CORPORATION; CHASE
HOME FINANCE LLC;
JPMORGAN CHASE
BANK, NA; or loans
acquired by them
J.P. MORGAN
MORTGAGE
ACQUISITION CORP.
J.P. MORGAN
ACCEPTANCE
CORPORATION I
ISSUING ENTITY TRUSTEE
MASTER SERVICER/
SERVICER
J.P. MORGAN
MORTGAGE TRUST 2005-
A4
Wachovia Bank, NA (n/k/a
Wells Fargo Bank, NA) per
Prospectus

US Bank, NA per
Bloomberg, LP (purported
successor)
Wells Fargo Bank, N.A. /
JPMorgan Chase Bank, NA;
PHH Mortgage Corporation
CUSTODIAN CUT OFF DATE CLOSING DATE
JPMorgan Chase Bank, NA June 1, 2005 On or about June 29, 2005

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PROSPECTUS SUPPLEMENT
(TO PROSPECTUS DATED JUNE 27, 2005)

$932,393,200 (APPROXIMATE)

J.P. MORGAN MORTGAGE TRUST 2005-A4
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2005-A4

J.P. MORGAN MORTGAGE ACQUISITION CORP.
SPONSOR AND SELLER

J.P. MORGAN ACCEPTANCE CORPORATION I
DEPOSITOR

JPMORGAN

JUNE 27, 2005

http://www.sec.gov/Archives/edgar/data/1085309/000095013605003854/file001.htm

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SUMMARY OF TRANSACTION AND TRANSACTION PARTIES

ISSUING ENTITY

J.P. Morgan Mortgage Trust 2005-A4 will issue the certificates. The trust will
be formed pursuant to a pooling and servicing agreement among the depositor, the
master servicer, the securities administrator and the trustee. The certificates
solely represent beneficial ownership interests in the trust fund created under
the pooling and servicing agreement and not an interest in, or the obligation
of, the depositor or any other person.

THE TRUSTEE

Wachovia Bank, National Association will act as trustee of the trust fund under
the pooling and servicing agreement.

THE ORIGINATORS

Approximately 72.34%, 13.98% and 74.83% of the mortgage loans in pool 1, pool 2
and pool 3, respectively, were originated or acquired by PHH Mortgage
Corporation (formerly known as Cendant Mortgage Corporation). Approximately
27.66%, 72.33% and 25.17% of the mortgage loans in pool 1, pool 2 and pool 3,
respectively, and all of the mortgage loans in pool 4, were originated or
acquired by Chase Home Finance LLC (successor by merger to Chase Manhattan
Mortgage Corporation) or JPMorgan Chase Bank, National Association.
Approximately 13.69% of the mortgage loans in pool 2 were originated or acquired
by CTX Mortgage Company, LLC.

We refer you to "Description of the Mortgage Pools" in this prospectus
supplement for more information.

THE SPONSOR AND SELLER

J.P. Morgan Mortgage Acquisition Corp., a Delaware corporation, has previously
acquired the mortgage loans from the originators. On the closing date, J.P.
Morgan Mortgage Acquisition Corp., as seller, will sell all of its interest in
the mortgage loans to the depositor.

THE DEPOSITOR

On the closing date, J.P. Morgan Acceptance Corporation I, a Delaware
corporation, will assign all of its interest in the mortgage loans to the
trustee for the benefit of certificateholders.

THE CUSTODIAN

JPMorgan Chase Bank, National Association will maintain custody of the mortgage
files relating to the mortgage loans on behalf of the trust fund.

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THE MASTER SERVICER AND SECURITIES ADMINISTRATOR

Wells Fargo Bank, N.A., a national banking association, will act as master
servicer and securities administrator under the pooling and servicing agreement.

THE SERVICERS

JPMorgan Chase Bank, National Association and PHH Mortgage Corporation will each
act as a servicer of a portion of the related mortgage loans.

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JPMorgan Chase Bank, National Association and PHH Mortgage Corporation will each
service the mortgage loans originated or acquired by it pursuant to an existing
purchase and servicing agreement between such servicer and the seller. Chase
Home Finance LLC will subservice the mortgage loans originated or acquired by
JPMorgan Chase Bank, National Association pursuant to an existing servicing
agreement among Chase Home Finance LLC, JPMorgan Chase Bank, National
Association and the seller. JPMorgan Chase Bank, National Association, as
servicer, and Chase Home Finance LLC, as subservicer, will service the mortgage
loans originated or acquired by CTX Mortgage Company, LLC, pursuant to servicing
agreements among JPMorgan Chase Bank, National Association, Chase Home Finance
LLC and the seller. The rights of the seller under these purchase and servicing
agreements and servicing agreements will be assigned to the depositor, and the
depositor, in turn, will assign such rights to the trustee for the benefit of
certificateholders.

We refer you to "The Servicers" and "Servicing of the Mortgage Loans" in this
prospectus supplement for more information.

CUT-OFF DATE

JUNE 1, 2005. The cut-off date is the date after which the trust fund will be
entitled to receive all collections on and proceeds of the mortgage loans.

DISTRIBUTION DATE

The 25th day of each month or, if such day is not a business day, the next
business day thereafter, commencing in July 2005. Distributions on each
distribution date will be made to certificateholders of record as of the related
record date, except that the final distribution on the certificates will be made
only upon presentment and surrender of the certificates at the corporate trust
office of the securities administrator.

RECORD DATE

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The record date will be the last business day of the month preceding the month
of a distribution date (or the closing date, in the case of the first
distribution date).

DISTRIBUTIONS OF INTEREST

On each distribution date, to the extent funds are available from the related
mortgage pool or mortgage pools, each class of certificates will be entitled to
receive accrued and unpaid interest determined on the basis of the outstanding
class principal amount of such class immediately prior to such distribution
date, the applicable certificate interest rate and the related accrual period.

For each distribution date, the accrual period will be the calendar month
preceding the month in which the distribution date occurs. Interest on all
classes of certificates for all accrual periods will be calculated and payable
on the basis of a 360-day year consisting of twelve 30-day months.

Interest payments will be allocated among certificateholders of a class of
certificates on a pro rata basis.

We refer you to "Description of the Certificates -- Distributions of Interest"
in this prospectus supplement for more information.

DISTRIBUTIONS OF PRINCIPAL

The amount of principal distributable on the certificates on any distribution
date will be determined by (1) formulas that allocate portions of principal
payments received on the mortgage loans among the different classes of
certificates and (2) the amount of funds actually received on the mortgage loans
and available to make distributions on the certificates. Funds actually received
on the mortgage loans may consist of scheduled payments and unscheduled payments
resulting from prepayments by borrowers, liquidation of defaulted mortgage loans
or repurchases of mortgage loans under the circumstances described in this
prospectus supplement.

On each distribution date, each class of certificates will receive principal
payments in accordance with the priorities set forth in "Description of
Certificates -- Priority of Distributions" and based on principal collections
from the related mortgage pool or mortgage pools for the related due period.

We refer you to "Description of the Certificates -- Distributions of Principal"
in this prospectus supplement and "Description of the Securities - Distributions
on Securities" in the prospectus for more information.

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FINAL SCHEDULED DISTRIBUTION DATE

The final scheduled distribution date for the offered certificates is the
distribution date in July 2035, which is the distribution date in the month
following the scheduled maturity date for the latest maturing mortgage loan.

OPTIONAL CLEAN-UP REDEMPTION OF THE CERTIFICATES

On any distribution date on or after the distribution date on which the
aggregate outstanding principal balance of the mortgage loans is equal to or
less than 5% of the aggregate principal balance of the mortgage loans as of the
cut-off date, as described herein, the master servicer will have the option to
purchase all of the mortgage loans thereby causing an early retirement of the
certificates.

We refer you to "Description of the Certificates -- Optional Clean-Up Redemption
of the Certificates" in this prospectus supplement for more information.

CREDIT ENHANCEMENT

SUBORDINATION. The subordinate classes of certificates will provide credit
enhancement for the senior certificates. In addition, the Class B-1 Certificates
will have a payment priority over the Class B-2, Class B-3, Class B-4, Class B-5
and Class B-6 Certificates; the Class B-2 Certificates will have a payment
priority over the Class B-3, Class B-4, Class B-5 and Class B-6 Certificates;
and the Class B-3 Certificates will have a payment priority over the Class B-4,
Class B-5 and Class B-6 Certificates.

If the mortgage loans in any pool experience losses, then, generally, the
principal amount of the subordinate class of certificates that is lowest in
seniority and still outstanding will be reduced by the amount of those realized
losses until the total outstanding principal balance of such class equals zero.

If a loss has been allocated to reduce the principal amount of your class of
certificates, you will receive no payment in respect of that reduction. If the
subordination of the subordinate certificates is insufficient to absorb losses,
then the senior certificates relating to the pool incurring the realized losses
will be allocated such losses and may never receive all of their principal
payments.

Some losses, however, such as special hazard losses, bankruptcy losses, and
fraud losses in excess of the amounts set forth in this prospectus supplement,
are, in general, allocated pro rata to each affected class of certificates
instead of first being allocated to the subordinate certificates.

We refer you to "Risk Factors -- Potential Inadequacy of Credit Enhancement,"
"Description of the Certificates -- Priority of Distributions" and "--
Allocation of Losses" in this prospectus supplement for more information.

LIMITED CROSS-COLLATERALIZATION. In certain very limited circumstances relating
to a mortgage pool experiencing either rapid prepayments or disproportionately
high realized losses, principal and interest collected from the other mortgage
pools may be applied to pay principal or interest, or both, to the senior

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certificates of the mortgage pool experiencing such conditions.

We refer you to "Description of the Certificates - Limited
Cross-Collateralization" in this prospectus supplement for more information.

THE MORTGAGE LOANS

STATISTICAL INFORMATION. The statistical information on the mortgage loans
presented herein is based on the principal balance of such mortgage loans as of
June 1, 2005 (referred to herein as the "cut-off date"). Such information does
not take into account defaults, delinquencies and prepayments that may have
occurred with respect to the mortgage loans since such date. As a result, the
statistical distribution of the characteristics in the final mortgage pools as
of the closing date will vary from the statistical distribution of such
characteristics as presented in this prospectus supplement, although such
variance will not be material.

GENERAL. On the cut-off date, the assets of the trust fund consisted of 1,964
mortgage loans with a total principal balance of approximately $940,386,486. The
mortgage loans consist primarily of adjustable rate, conventional, fully
amortizing, first lien residential mortgage loans, substantially all of which
have an original term to stated maturity of 30 years.

http://www.sec.gov/Archives/edgar/data/1085309/000095013605003854/file001.htm

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POOLING AND SERVICING AGREEMENT

J.P. MORGAN ACCEPTANCE CORPORATION I
Depositor
WELLS FARGO BANK, N.A.
Master Servicer and Securities Administrator
and
WACHOVIA BANK, NATIONAL ASSOCIATION
Trustee
___________________________


Dated as of June 1, 2005
___________________________
J.P. MORGAN MORTGAGE TRUST 2005-A4

MORTGAGE PASS-THROUGH CERTIFICATES

http://www.sec.gov/Archives/edgar/data/1331731/000116231805000568/m271psa.htm

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Section 2.01

ARTICLE II

DECLARATION OF TRUST;
ISSUANCE OF CERTIFICATES
Section 2.01
Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.
(a)
Concurrently with the execution and delivery of this Agreement, the Depositor does
hereby transfer, assign, set over, deposit with and otherwise convey to the Trustee, without re-
course, subject to Sections 2.02 and 2.05, in trust, all the right, title and interest of the Depositor in
and to the Trust Fund. Such conveyance includes, without limitation, (i) the Mortgage Loans, in-
cluding the right to all payments of principal and interest received on or with respect to the Mort-
gage Loans on and after the Cut-off Date (other than Scheduled Payments due on or before such
date), and all such payments due after such date but received prior to such date and intended by the
related Mortgagors to be applied after such date; (ii) all of the Depositors right, title and interest in
and to all amounts from time to time credited to and the proceeds of the Distribution Account, any
Custodial Accounts or any Escrow Account established with respect to the Mortgage Loans; (iii) all
of the rights of the Depositor as assignee of the Seller with respect to the Sellers rights under the
Purchase and Servicing Agreements pursuant to the Acknowledgements; (iv) all of the Depositors
right, title or interest in REO Property and the proceeds thereof; (v) all of the Depositors rights un-
der any Insurance Policies related to the Mortgage Loans; and (vi) if applicable, the Depositors se-
curity interest in any collateral pledged to secure the Mortgage Loans, including the Mortgaged
Properties and any Additional Collateral relating to the Additional Collateral Mortgage Loans, in-
cluding, but not limited to, the pledge, control and guaranty agreements and the Limited Purpose
Surety Bond to have and to hold, in trust; and the Trustee declares that, subject to the review pro-
vided for in Section 2.02, it has received and shall hold the Trust Fund, as trustee, in trust, for the
benefit and use of the Holders of the Certificates and for the purposes and subject to the terms and
conditions set forth in this Agreement, and, concurrently with such receipt, has caused to be execut-
ed, authenticated and delivered to or upon the order of the Depositor, in exchange for the Trust
Fund, Certificates in the authorized denominations evidencing the entire ownership of the Trust
Fund.
The foregoing sale, transfer, assignment, set-over, deposit and conveyance does not and is
not intended to result in the creation or assumption by the Trustee of any obligation of the Deposi-
tor, the Seller or any other Person in connection with the Mortgage Loans or any other agreement or
instrument relating thereto except as specifically set forth therein.

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In connection with such transfer and assignment of the Mortgage Loans, the Custodian act-
ing on the Trustees behalf, will hold or continue to hold the documents or instruments listed below
with respect to each Mortgage Loan (each, a Trustee Mortgage File) so transferred and assigned.
The Trustee shall be under no duty or obligation to inspect, review or examine said docu-
ments, instruments, certificates or other papers to determine that the same are genuine, enforceable
or appropriate for the represented purpose or that they have actually been recorded in the real estate
records or that they are other than what they purport to be on their face.
On the Closing Date, the Custodian shall deliver to the Trustee and the Depositor certifica-
tion (Custodian Certification) substantially in the form attached hereto as Exhibit L certifying
that, pursuant to each related Custodial Agreement, the applicable Originator delivered and released
to the Custodian, subject to and in accordance with the relevant section of each related Purchase and
Servicing Agreement or Custodial Agreement, the following documents pertaining to each of the
Mortgage Loans identified in the Mortgage Loan Schedule (provided, however, that the Custodian
shall not be required nor does it intend to re-examine the contents of the Trustee Mortgage File for
any of the Mortgage Loans in connection with entering into this Agreement or providing the Custo-
dian Certification required pursuant to this Section 2.01):
(i)
with respect to each Mortgage Loan, the original Mortgage Note endorsed without
recourse in proper form to the order of the Trustee, or in blank (in each case, with all necessary in-
tervening endorsements, as applicable);
(ii)
with respect to each Mortgage Loan (other than a Cooperative Loan) that is not a
MERS Mortgage Loan, the original Mortgage with evidence of recording thereon and in the case of
the each MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN of the
Mortgage Loans and either language indicating that the Mortgage Loan is a MOM Loan if the
Mortgage Loan is a MOM Loan or if the Mortgage Loan was not a MOM Loan at origination, the
original Mortgage and the assignment thereof to MERS, with evidence of recording indicated there-
on;
(iii)
MERS Mortgage Loan, the Assignment of Mortgage in form and substance acceptable for recording
in the relevant jurisdiction, such assignment being either (A) in blank, without recourse, or (B) en-
dorsed to Wachovia Bank, National Association, as Trustee of J.P. Morgan Mortgage Trust 2005-
A4, Mortgage Pass-Through Certificates, without recourse;
(iv)
MERS Mortgage Loan, the originals of all intervening assignments of the Mortgage, if any, with

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evidence of recording thereon, or if the original intervening assignment has not yet been returned
from the recording office, a copy of such assignment certified by the applicable Seller to be a true
copy of the original of the assignment which has been sent for recording in the appropriate jurisdic-
tion in which the Mortgaged Property is located;
(v)
if applicable, with respect to each Mortgage Loan (other than a Cooperative Loan),
the originals of all assumption, modification, consolidation or extension agreements, if any, with
evidence of recording thereon;
(vi)
the original policy of title insurance (or a true copy thereof) with respect to any such Mortgage
Loan, or, if such policy has not yet been delivered by the insurer, the title commitment or title bind-
er to issue same;
(vii)
the original power of attorney and guaranty agreement with respect to such Mortgage Loan;
(viii)
if applicable, the original or certified copy of the certificates evidencing ownership
of the Cooperative Shares issued by the Cooperative Corporation and related assignment of such
certificates or an assignment of such Cooperative Shares, in blank, executed by the Mortgagor with
such signature guaranteed;
(ix)
with respect to each Mortgage Loan which constitutes a Cooperative Loan:
(a)
the original of any security agreement or similar document executed in connection with the Cooper-
ative Loan;
(b)
the original Recognition Agreement;
(c)
UCC-1 financing statements with recording information thereon from the appropriate governmental
recording offices if necessary to perfect the security interest of the Cooperative Loan under the Uni-
form Commercial Code in the jurisdiction in which the Cooperative Property is located, accompa-
nied by UCC-3 financing statements executed in blank for recordation of the change in the secured
party thereunder;
(d)

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the original Proprietary Lease and the Assignment of Proprietary Lease executed by the Mortgagor
in blank or if the Proprietary Lease has been assigned by the Mortgagor to the Seller, then the Seller
must execute an assignment of the Assignment of Proprietary Lease in blank;
(x)
if applicable, with respect to each Additional Collateral Mortgage Loan, the related
pledge agreement, the UCC financing statement, if applicable, and such other document related
thereto as may be required under the related Custodial Agreement; and
(xi)
any other document or instruments required to be delivered under the related Custo-
dial Agreement.
In addition, in connection with the assignment of any MERS Mortgage Loan, it is under-
stood that the related Originator will cause the MERS System to indicate that such Mortgage
Loans have been assigned by the related Originator to the Trustee in accordance with this Agree-
ment for the benefit of the Certificateholders by including (or deleting, in the case of Mortgage
Loans which are repurchased in accordance with this Agreement) in such computer files the infor-
mation required by the MERS System to identify the series of Certificates issued in connection
with such Mortgage Loans. It is further understood that the related Originator will not, and the Mas-
ter Servicer hereby agrees that it will not, alter the information referenced in this paragraph with
respect to any Mortgage Loan during the term of this Agreement unless and until such Mortgage
Loan is repurchased in accordance with the terms of this Agreement.
(b)
[Reserved].
(c)
In instances where a title insurance policy is required to be delivered to the Trustee
or the Custodian on behalf of the Trustee and is not so delivered, the Depositor will provide a copy
of such title insurance policy to the Trustee, or to the Custodian on behalf of the Trustee, as prompt-
ly as practicable after the execution and delivery hereof, but in any case within 180 days of the
Closing Date.
(d)
For Mortgage Loans (if any) that have been prepaid in full after the Cut-off Date and
prior to the Closing Date, the Depositor, in lieu of delivering the above documents, herewith deliv-
ers to the Trustee, or to the Custodian on behalf of the Trustee, an Officers Certificate which shall
include a statement to the effect that all amounts received in connection with such prepayment that
are required to be deposited in the Distribution Account pursuant to Section 4.01 have been so de-
posited. All original documents that are not delivered to the Trustee or the Custodian on behalf of
the Trustee shall be held by the Master Servicer or the related Servicer in trust for the benefit of the
Trustee and the Certificateholders.

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(e)
The Depositor and the Trustee hereto agree and understand that it is not intended that
any Mortgage Loan be included in the Trust Fund that is (i) a High-Cost Home Loan as defined in
the New Jersey Home Ownership Act effective November 27, 2003, (ii) a High-Cost Home Loan
as defined in the New Mexico Home Loan Protection Act effective January 1, 2004 and (iii) a
High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices
Act effective November 7, 2004. The Trustee shall be entitled to indemnification from the Deposi-
tor and the Trust Fund for any loss, liability or expense arising out of, or in connection with, the
provisions of this Section 2.01(e), including, without limitation, all costs, liabilities and expenses
(including reasonable legal fees and expenses) of investigating and defending itself against any
claim, action or proceeding, pending or threatened, relating to such provisions.

http://www.sec.gov/Archives/edgar/data/1331731/000116231805000568/m271psa.htm

New York State Trust Law Statutes state:

Unless an asset is transferred into a lifetime trust, the asset does not become trust property. (NY
Estates, Powers and Trust Law 7-1.18).

A trustees act that is contrary to the trust agreement is void. (NY Estates, Powers and Trust Law
7-2.4)

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SECTION 3: FORECLOSURE

Recorded Events on the Loan Including Foreclosure Issues and Securitization

Recorded Chain of Mortgage Possession Chain of Note Possession
Date Original Mortgage Date Note Holder
April 19, 2005
Instrument #
35297
Official Records,
Santa Barbara County
California

John Doe
(Borrowers)

(Lender)

MIN# 1000342-0000238462-0

April 7, 2005


( Lender)
Principal Amount:
$520,000.00

LOAN # 21034869

June 30, 2009
Instrument #
38624
Official Records,
California
Notice of Default June 1, 2005
J.P. MORGAN MORTGAGE
TRUST 2005-A4
Lender
Principal Amount:
$520,000.00

July 30, 2009
Instrument #
46632
Official Records,
California

Assignment of Deed of Trust
Signed by Texas Attorney Stephen
C. Porter as Assistant Secretary of
MERS without disclosure of true
role

October 5, 2009; Jan. 31, 2011;
Feb. 8, 2011; May 18, 2011
Instrument #
60330; 6243; 8244; 29287
Official Records,
California
Four Notices of Trustees Sale
September 29, 2011
Instrument #
55500
Official Records,
California
Trustees Deed
To JPMorgan Trust 2005-AR4

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REPORT SUMMARY

Deed of Trust:

On April 7, 2005, Debtor John Doe executed a negotiable promissory note and a security
interest in the form of a DEED OF TRUST in the amount of $ 520,000.00. This document was
filed as document number 35297 in the Official Records of Santa Barbara County. The
original lender of the promissory note is Metrocities Mortgage, LLC. Mortgage Electronic
Registration Systems, Inc. (hereafter MERS) is not named as the payee of the note, but is
named as acting solely as a nominee for the lender as the beneficiary of the security
interest Security Deed.

Securitization (The Note):

The NOTE was sold, transferred, assigned and securitized into the J.P. MORGAN
MORTGAGE TRUST 2005-A4 with a Closing Date of June 29, 2005.

Notice of Default:

A Notice of Default was recorded on June 30, 2009 in the Official Records, Santa Barbara
County as instrument number 38624.

Assignment of Deed of Trust:

On July 30, 2009, a Notice of Sale was recorded in the Official Records, Santa Barbara
County with as instrument number 46632 to JPMorgan Trust 2005-A4 purportedly from
Metrocities Mortgage, LLC. Signed by Attorney Stephen C. Porter as Assistant Secretary of
MERS.

Four Notices of Trustees Sale:

On October 5, 2009; January 31, 2011; February 8, 2011; and May 18, 2011, four Notices of
Trustees Sale were recorded in the Official Records, Santa Barbara County as instrument
numbers 60330; 6243; 8244; and 29287, respectively.

Trustees Deed:

On September 29, 2011, a Notice of Sale was recorded in the Official Records, Santa
Barbara County with as instrument number 55500 to grantee JPMorgan Mortgage Trust
2005-A4 for a notated value of $564,408.

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Stephen C. Porter purports to sign over Deed of Trust to US Bank, Trustee of JPMorgan
Mortgage Trust 2005-A4 as Assistant Secretary of MERS on behalf of Assignor original
lender Metrocities Mortgage. He does so without disclosure of possible relationship with
Assignee or true role as Texas-licensed attorney for Barrett Daffin of Addison, TX. Examiner
noted no evidence of a bill of sale; a declaration of value form; verifiable proof of funds; or
transfer taxes having been paid to Santa Barbara County for value received.

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Texas Bar Licensing Information for Stephen C. Porter
Further discovery recommended regarding Stephen Porter level of first-hand knowledge of
this matter; filing of a Pro Hac Vice (out of state permission for this occasion) to practice in
this matter in the State of California; and role as Assistant Secretary (of the Board of
Directors) of MERS

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Attorney Stephen C. Porter of Texas has no record of a license to practice law in California.

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Sample information on the thousands of documents Attorney Stephen Porter signed can be
found at:

http://www.dailyfinance.com/2010/10/30/the-foreclosure-mess-its-even-worse-in-nonjudicial-
states/

LOAN SEARCH

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The loan was found in the J.P. MORGAN MORTGAGE TRUST (JPMMT) 2005-A4 as investor loan
number 1841725110, which agrees with the characteristics of the loan. The loan is shown in REO (bank real
estate owned) status, consistent with the foreclosure.

DESCRIPTION OF SECURITY FROM BLOOMBERG

DEAL DESCRIPTION

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STRUCTURED FINANCE NOTES SCREEN
Lists the primary parties to the securitization transaction

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COMMENT SECTION PERTAINING TO TRUST INCLUDING CREDIT
ENHANCEMENTS
May further offset risks of owners or provide reimbursements to certain certificate holders

LOAN LEVEL DETAIL

Loan is shown at a last known 5.63% rate with no granting of a loan modification

LOAN LEVEL DETAIL (cont.)

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Loan is shown with a current $2,382/month principal and interest payment

The loan has a 12 month LIBOR index, a margin of 2.25%, and a lifetime floor and ceiling
of 2.25% and 10.625%, respectively, which agrees with the Adjustable Rate Rider

VIEW ALL LOAN CLASSES SCREEN

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The loan was found in 8 of the 15 classes as the loan is located in Group 0 (all collateral)
and group 1. Four classes are UNPAID and the remaining four classes are completely
paid (Pd.). CUSIP numbers of each investment class are shown below.

LOAN COLLATERAL PERFORMANCE

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No loans modifications relative in spite of 4-5% 90 day+ delinquency rate in this trust
targeted to California homeowners

CONCLUSION

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CHAIN OF TITLE

CERTIFICATES

ARROW LEGEND

PURPLE MORTGAGE DOCUMENTS
BLUE SECURITIES CERTIFICATES
RED INVESTOR FUNDS
GREEN BORROWER FUNDS
DONDI STEVENS

BORROWER
TRUSTOR
MORTGAGOR/MORTGAGER
GRANTOR
METROCITIES
MORTGAGE, LLC
LENDER/
ORIGINATOR

JPMORGAN
ACCEPTANCE
CORPORATION I

DEPOSITOR
Creates Issuing Entity
JPMORGAN MORTGAGE
ACQUISITION CORP.
SELLER
Purchases loans from
originator; forms pool
JPMORGAN MORTGAGE TRUST
2005-A4

TRUST FUND ISSUING ENTITY
Holds pool of loans; issues
certificates
WELLS FARGO BANK, N.A.

MASTER SERVICER

Services individual loans; Aggregates
Collection; Performs Duties under
Trusts Pooling & Servicing Agreement
WACHOVIA BANK OR US BANK
TRUSTEE FOR THE TRUST

Represents Investors Interests;
Calculates Cash Flows; Remits Net
Revenues
JPMORGAN CHASE BANK, NA
UNDERLYING CUSTODIAN
Document Custody

JPMORGAN

UNDERWRITERS

SELLS CERTIFICATES TO
INVESTORS; COLLECTS
OFFERING PROCEEDS

INVESTORS

Purchase Mortgage Backed
Securities as defined in
Certificates
FIRST AMERICAN TITLE

TITLE COMPANY/
ESCROW
SAN BARBARA COUNTY
CALIFORNIA

MAINTAINS ASSIGNMENT
HISTORY
MONTHLY
PAYMENTS
NOTE WAS SOLD
& TRANSFERRED
NOTE WAS SPLIT
FROM THE DEED
OFFERING PROCEEDS
CERTIFICATES
CERTIFICATES
RETURN ON INVESTMENTS
DEED ISSUED TO MERS
SPLIT FROM NOTE

DEED OF TRUST

PROMISSORY NOTE
MERS

CUSTODIAN

Maintains Assignment History
No physical possession
No pecuniary interest
The mortgage or Assignment of the
mortgage of some of the mortgage loan
have been or may be recorded in the name
of MERS, solely as Nominee for the
originator and its successors and
assigns
MERS serves as mortgagee of record on
the mortgage solely as a nominee in an
administrative capacity on behalf of the
Trustee and does not have interest in the
mortgage loan

Page | 29

MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS (MERS) ANALYSIS

The Mortgage has MIN number 1000342-0000238462-0 and is registered at the MERS
SERVICER ID website https://www.mers-servicerid.org/sis/search showing JPMorgan
Chase Bank, NA as both Servicer and stated Investor.

Although MERS records an assignment in the real property records, the promissory note
which creates the legal obligation to repay the debt has not been transferred nor negotiated
by MERS.

MERS is never entitled to receive a borrowers monthly payments, nor is MERS ever
entitled to receive the proceeds of a foreclosure or MORTGAGE sale.

MERS is never the owner of the promissory note for which it seeks foreclosure.

MERS has no legal or beneficial interest in the loan instrument underlying the security
instrument for which it serves as nominee.

MERS has no legal or beneficial interest in the mortgage indebtedness underlying the
security instrument for which it serves as nominee.

MERS has no interest at all in the promissory note evidencing the mortgage indebtedness.

MERS is not a party to the alleged mortgage indebtedness underlying the security
instrument for which it serves as nominee.

MERS has no financial or other interest in whether or not a mortgage loan is repaid.

Page | 30

The loan is registered within the MERS database showing JPMorgan Chase Bank as both as
Servicer and stated Investor.

Page | 31

For traditional lending prior to Securitization, the oiginal Deed recording was usually the only
recorded document in the Chain of Title. That is because banks kept the loans, and did not sell the
loan, hence, only the original recording being present in the banks name.

The advent of Securitization, especially through Private Investors and not Fannie Mae or
Freddie Mac, involved an entirely new process in mortgage lending. With Securitization, the
Notes and Deeds were sold once, twice, three times or more. Using the traditional model would
involve recording new Assignments of the Deed and Note as each transfer of the Note or Deed of
Trust occurred. Obviously, this required time and money for each recording.

(The selling or transferring of the Note is not to be confused with the selling of Servicing
Rights, which is simply the right to collect payment on the Note, and keep a small portion of the
payment for Servicing Fees. Usually, when a homeowner states that their loan was sold, they
are referring to Servicing Rights.)

Securitizing a Loan

Securitizing a loan is the process of selling a loan to Wall Street and private investors. it is a method
with many issues to be considered. The methodology of securitizing a loan generally followed these
steps:

A Wall Street firm would approach other entities about issuing a Series of Bonds for sale to
investors and would come to an agreement. In other words, the Wall Street firm pre-sold the
bonds.

The Wall Street firm would approach a lender and usually offer them a warehouse Line of
Credit. The Warehouse Credit Line would be used to fund the loan. The Warehouse Line
would be covered by restrictions resulting from the initial Pooling & Servicing Agreement
Guidelines and Mortgage Loan Purchase Agreement. These documents outlined the
procedures for the creation of the loans and the administering of the loans prior to, and after,
the sale of the loans to Wall Street.

The Lender, with the guidelines, essentially went out and found buyers for the loans, people
who fit the general characteristics of the Purchase Agreement. (Guidelines were very general
and most people could qualify. The Lender would execute the loan and fund it, collecting
payments until there were enough loans funded to sell to the Wall Street firm who could then
issue the bonds.

Once the necessary loans were funded, the lender would then sell the loans to the
Sponsor, usually either a subsidiary of the Wall Street firm, of a specially created
Corporation of the lender. At this point, the loans are separated into tranches of loans,
where they will be eventually turned into bonds.

Next, the loans were sold to the Depositor. This was a Special Purpose Vehicle
designed with one purpose in mind. That was to create a bankruptcy remote vehicle

Page | 32

where the lender or other entities are protected from what might happen to the loans, and/or
the loans are protected from the lender. The Depositor would be, once again, created by
the Wall Street firm or the lender.

Then the Depositor would place the loans into the Issuing Entity, which is another entity
created solely for the purpose of selling the bonds.

Finally, the bonds would be sold, with a Trustee appointed to ensure that the bondholders
received their monthly payments.

METROCITIES MORTGAGE, LLC was a correspondent lender that originated mortgage loans.
These loans, in turn, were sold and transferred into a federally-approved securitization trust named
the J.P. MORGAN MORTGAGE TRUST 2005-A4.

The Note and Deed have taken two distinctly different paths. The Note was securitized into the J.P.
MORGAN MORTGAGE TRUST 2005-A4.

The written agreement that created the J.P. MORGAN MORTGAGE TRUST 2005-A4 is a Pooling
and Servicing Agreement (PSA), and is a matter of public record, available on the website of the
Securities Exchange Commission. The Trust is also described in a Prospectus Supplement, also
available on the SEC website. The Trust by its terms set a CLOSING DATE of ON OR ABOUT JUNE
29, 2005. The promissory note in this case became trust property in compliance with the requirement
set forth in the PSA. The Trust agreement is filed under oath with the Securities and Exchange
Commission. The acquisition of the assets of the subject Trust and the PSA are governed under the
law.

In view of the foregoing, the Assignment of Deed of Trust executed after the Trusts Closing Date
would be a void act for the reason that it violated the express terms of the Trust instrument.

The loan was originally made to METROCITIES MORTGAGE, LLC and was sold and transferred to
J.P. MORGAN MORTGAGE TRUST 2005-A4. There is no record of Assignments to either the Sponsor
or Depositor as required by the Pooling and Servicing Agreement.

In Carpenter v. Longan 16 Wall. 271,83 U.S. 271, 274, 21 L.Ed. 313 (1872), the U.S. Supreme
Court stated The note and mortgage are inseparable; the former as essential, the latter as an
incident. An assignment of the note carries the mortgage with it, while assignment of the
latter alone is a nullity.

An obligation can exist with or without security. With no security, the obligation is
unsecured but still valid. A security interest, however, cannot exist without an underlying
existing obligation. It is impossible to define security apart from its relationship to the
promise or obligation it secures. The obligation and the security are commonly drafted
as separate documents typically a promissory note and a deed of trust. If the creditor
transfers the note but not the deed of trust, the transferee receives a secured note; the
security follows the note, legally if not physically. If the transferee is given the deed of
trust without the note accompanying it, the transferee has no meaningful rights except
the possibility of legal action to compel the transferor to transfer the note as well, if such
was the agreement. (Kelley v. Upshaw 91952) 39 C.2d 179, 246 P.2d 23; Polhemus v.

Page | 33

Trainer (1866) 30C 685).

Where the mortgagee has transferred only the mortgage, the transaction is a nullity
and his assignee having received no interest in the underlying debt or obligation, has a
worthless piece of paper (4 Richard R. Powell), Powell on Real Property, 37.27 [2]
(2000).

By statute, assignment of the mortgage carries with it the assignment of the debt. . . Indeed, in
the event that a mortgage loan somehow separates interests of the note and the deed of trust,
with the deed of trust lying with some independent entity, the mortgage may become
unenforceable. The practical effect of splitting the deed of trust from the promissory note is to
make it impossible for the holder of the note to foreclose, unless the holder of the deed of trust
is the agent of the holder of the note. Without the agency relationship, the person holding only
the trust will never experience default because only the holder of the note is entitled to payment
of the underlying obligation. The mortgage loan becomes ineffectual when the note holder did
not also hold the deed of trust.

DISCLAIMER

This report was based exclusively on the documentation provided. It also required that we make reasonable assumptions
respecting disclosures and certain loan terms that, if erroneous, may result in material differences between our findings and
the loans actual compliance with applicable regulatory requirements. While we believe that our assumptions provide a rea-
sonable basis for the review results, we make no representations or warranties respecting the appropriateness of our assump-
tions, the completeness of the information considered, or the accuracy of the findings. The contents of this report are being
provided with the understanding that we are not providing legal advice, nor do we have any relationship, contractual or oth-
erwise, with anyone other than the recipient. We do not, in providing this report, accept or assume responsibility for any oth-
er purpose.

Page | 34

AFFIDAVIT OF FACTS

STATE OF _______________ )
) sv.: AFFIDAVIT
COUNTY OF ____________ )

RE: John Doe

I, MICHAEL CARRIGAN, a citizen of the United States and the State of California over the age of 21
years, and declare as follows, under penalty of perjury that the facts stated herein are true, correct and
complete. The undersigned believes them to be true and admissible as evidence in a court of law, and if
called upon as a witness, will testify as stated herein:

1. That I am a subscriber of the Bloomberg Professional Service, certified and licensed to use such
service. I have completed the required training and engaged in continuing education with
Bloomberg both online and at Bloomberg live training events, to stay abreast with Bloombergs
latest progress and developments. I have the requisite knowledge and the trained ability to
navigate and perform effective searches on the on the Bloomberg terminal.

2. I am a Certified Mortgage Securitization Auditor and my qualifications, expertise and experience
provide me with the background necessary to certify the audit services and to be qualified as an
expert in this field. I have produced thousands of Securitized Analysis Reports in residential real
estate mortgage investigation and have trained auditors in California and via the Internet in webinar
format.

3. I have the trained skills and qualifications to navigate and perform searches on the Bloomberg
terminal in regards to the automated tracking and determination of mortgage and loan related
documents and information.

4. The contents of this report are factual, but it is provided for information purposes only and is not to
be construed as legal advice.
1

1
The client has been strongly advised to seek legal consultation from a competent legal professional in connection with
the contents of this report and how to properly use it.

Page | 35

5. On December 15, 2012, I researched the Bloomberg online Database at the request of JOHN
DOE whose property address is 7777 Eagle Lane, Santa Barbara, CA 93111.

6. Based on the information I was provided, JOHN DOE signed a Promissory Note in favor of
Metrocities Mortgage, LLC on April 7, 2005.

7. Loan was identified in the J.P. MORGAN MORTGAGE TRUST 2005-A4 with the Master Servicer
being Wells Fargo Bank, N.A.; the Sponsor / Seller being J.P. MORGAN MORTGAGE
ACQUISITION CORP. and the Depositor being J.P. MORGAN ACCEPTANCE CORPORATION I.

8. The basis of the identification of Loan in J.P. MORGAN MORTGAGE TRUST 2005-A4 was made
from the following factors/information that exactly correspond with JOHN DOES loan documents
provided: Loan Number: 21034869; Original Amount: $520,000.00; Origination Date: April 7, 2005;
Location of Property: CA; Property Type: Single Family Residence; Occupancy: Owner Occupied;
Zip Code: 93111; Type Loan: 30 Year Adjustable Rate Mortgage using Libor 12 month index, a
2.25% margin, a lifetime floor of 2.25% and a 10.625% lifetime ceiling rate.

9. JOHN DOES Note was split-apart or fractionalized, as separate accounting entries and deposited
separately into Classes. Each Class is insured up to 30 times the face value of each Note therein,
which is permissible under the Federal Reserve System.

10. Pursuant to my extensive research, I have found the Loan in eight (8) Classes of the J.P.
MORGAN MORTGAGE TRUST 2005-A4. These classes represent the sections that the J.P.
MORGAN MORTGAGE TRUST 2005-A4 are divided into. Individuals invest in these Classes
based on their desired maturities, yield, credit rating and other factors. The J.P. MORGAN
MORTGAGE TRUST 2005-A4 pays interest, usually monthly, to investors and principal payments
are paid out in the order of the maturity and as specified in trust agreements.

Page | 36

11. Below are the classes the J.P. MORGAN MORTGAGE TRUST 2005-A4 has been divided into
and their CUSIP number which is a nine (9) character alphanumeric code identifying any North
American security for the purpose of facilitating clearing and settlement of trades.

12. There are a total of fifteen (15) classes in the J.P. MORGAN MORTGAGE TRUST 2005-A4.

13. The loan is in eight (8) classes. Four (4) classes out of the eight (8) have been paid (Pd.). The
loan is in groups 0 (all collateral) and group 1.

14. Generally, if the Deed of Trust and the Note are not together with the same entity, there can be
no legal enforcement of the Note. The deed of trust enforces the Note and provides the capability
for the lender to foreclose on the property. Thus, if the Deed of Trust and the Note are separated,
foreclosure legally cannot occur. The Note cannot be enforced by the Deed of Trust if each
contains a different mortgagee/beneficiary; and, if the Deed of trust is not itself a legally
enforceable instrument, there can be no valid foreclosure on the homeowners property.

15. No Entity can be a CREDITOR if they do not hold/own the asset in question (i.e. the NOTE and/or
the property); a Mortgage Pass Through Trust (i.e. R.E.M.I.C., as defined in Title 26, Subtitle A,
Chapter 1, Subchapter M, Part II 850-862) cannot hold assets, for if they do, their tax exempt
status is violated and the Trust itself is void ab initio. Therefore, either the Trust has either voided
its intended Tax Free Status, or the asset is not in fact owned by it.

16. In the event that the loan was sold, pooled and turned into a security, the alleged holder can no

Page | 37

longer claim that it is a real party of interest, as the original lender has been paid in full.

17. Further said, once the Note was converted into a stock, or stock equivalent, it is no longer a Note.
If both the Note and the stock, or stock equivalent, exist at the same time, that is known as double
dipping. Double dipping is a form of securities fraud.

18. Once a loan has been securitized, which the aforementioned loan may have been done many
times, it forever loses its security component (i.e., the Deed of Trust), and the right to foreclose
through the Deed of Trust is forever lost.

19. The Promissory Note has been converted into a stock as a permanent fixture. It is now a stock
and governed as a stock under the rules and regulations of the SEC; hence, the requirement for
the filings of the registration statements, pooling and servicing agreements, form 424B-5, et.al.
There is no evidence on Record to indicate that the Deed of Trust was ever transferred
concurrently with the purported legal transfer of the Note, such that the Deed of Trust and Note has
been irrevocably separated, thus making a nullity out of the purported security in a property, as
claimed (Federal Rules of Evidence Rules 901 & 902).

20. Careful review and examination reveals that this was a securitized loan. The Assignment of
Mortgage pretended to be an A to D transaction when in fact the foreclosing party was hiding the A
to B, B to C, and C to D facts of true sales, where A is the original lender, B the sponsor/seller, C
the bankruptcy-remote depositor, and D, the issuing mortgage-backed securities trust. They also
hid the legal SEC filings, governing the transaction according to our findings. But to be controlled
by those SEC filings, the true original loan Note and Mortgage had to be provided by the Document
Custodian certified to have been in possession of them by them on or about June 29, 2005.
Because it was not, the claim of ownership by the Trust cannot be substantiated and the loan
servicing rights not established at law by agreement. I supply this report as written testimony and
am available for oral testimony.

By:

______________________________________________________________
Michael Carrigan
Certified Mortgage Securitization Auditor / Bloomberg Specialist

Page | 38

STATE OF _____________ )
) sv: ACKNOWLEDGEMENT
COUNTY OF ___________ )

On ____________, 2012 before me, _________________________________________
(Notary Public)

personally appeared MICHAEL CARRIGAN, who proved to me on the basis of satisfactory
evidence to be the man whose name is subscribed to the within instrument and acknowledged to me
that he executed the same in his authorized capacity, and that by his signature on the instrument the
person, or the entity upon behalf of which the person acted, executed the instrument under the
penalty of perjury.

I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature __________________________ (Seal)

My commission Expires __________________________

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