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A Florida Corporalion. Authorized in Colorado, New York State, lndiana and North Carolina.

For Al Murry
ln the Matter of Foreclosure and Deed of Trust of Property Located at:
2494 F % Road
Grand Junction, CO 81505
Regarding:

Wells Farqo Bank. N.A. as Trustee for the Certificate Holders of Park Place
Securities. lnc. Asset-Backed Pass-Through Certificates. Series 2005-WCH1
The deponent, being first duly sworn, on knowledge, deposes and says on oath as follows:

Summary
The foreclosure of the instant property is based upon outright fraud and a
complete lack of evidence any party is authorized to foreclose. lt is our view that
the foreclosure sale is also unauthorized by the relevant trust or any party with
standing and must be immediately stopped in the interests of equity and justice
untilsuch time as proper legal process can conclude. ln the instant case there is
no party at this time with greater legal authority or standing than Park Place
Securities, lnc.

Authority
1.

I am the president (a statutory officer) of Park Place Securities, Inc., a


Florida corporation in Good Standing authorized to conduct business in

the State of Colorado, New York and other states. All Park Place Trusts
are organized under and controlted by New York Trust Law, which is why
the NY authorization is significant as a trust transfer not in compliance with
the trust's documents is void. Therefore, Park Place has the right to
enforce the terms of the trust in Colorado. (Colorado Secretary of State lD
Number: 20141681979).
Park Place was the Depositor of the above named trust which is why it
contains the Park Place name. That means that Park Place issued the
Prospectus, created the trust, filed all documents with the U.S. Securities
and Exchange Commission, and was issued the trust security certificates
by the Trustee, Wells Fargo Bank N.A. Park Place is a critical contract
party to the formation of the trust.

trust is formed and operated by a contract and in the case of a


REMIC (Real Estate Mortgage lnvestment Conduit) Trust; this contract is
called the Pooling and Servicing Agreement (PSA).
4. Under the PSA, Park Place is required to maintain itself in good corporate
standing in every state in which the trust owns property, which means it
has on-going operational participation and standing in the trust corpus.
5. ln addition, the PSA requires that Park Place maintain a principal place of
administration and Wells Fargo is required to notify all tranche
representatives thereof within 30 days. Park Place has formally notified
Wells Fargo on 11-12-2014 that the principal place of administration is
now in Key West, FL and Wells Fargo has not objected.
6. Park Place was the seller of security certificates to investors and has a
legal and fiduciary obligation to prevent fraud to the trust and investors.
7. For all of the above reasons, Park Place Securities, lnc. is a named party
to the trust formation and the operational closed trust.
8. The loan originator in the instant case was Olympus Mortgage Company.
9. Olympus provided only 10 percent of the loans in the trust. The other 90
percent were originated by Argent Mortgage Company L.L.C.
10. Park Place Securities, lnc. owns Argent Mortgage Company L.L.C. in the
State of Colorado.
3. Every

Assignment of Deed of Trust Has No Legal Significance


And Accomplishes Nothing
The Deed of Trust assignment signed by Joel Pires dated January 13,
2014 is a complete fraud (detailed below) but even taken at face value it
has no legal significance whatsoever. lt is based upon complete ignorance
of fact and law.
12.1n a REMIC trust the loan originator (Olympus Mortgage) is not a party.
Olympus Mortgage sells its notes to the REMIC Sponsor, Ameriquest
Mortgage. Ameriquest while a party to the formation of the trust is no
longer a party to the Trust once it closes, which was in 2005. The closing
year is part of the name of the specific trust 2005-WCH1.
13.An assignment is without effect, especially in2014, some 9 years after the
fact even if any of the alleged parties to it had any standing.
14.The loan originator can assign the note to the Sponsor because it is not a
party to the trust. The Sponsor can NOT assign it.
15. The original lender has no authority to assign a note into the trust. (This is
called an A to D transfer, skipping steps B & C and is illegal.)
16. A number of courts say the borrower is not a party to the PSA. Well, the
original lender is not a party either. The Sponsor is only a party untilthe
time the trust closes. Neither have any standing in the operational trust.
17. There is no such thing as an open trust. An open trust would be a trust
that does not exist. This trust closed in 2005.

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18. ln order to get this property note into the trust, allthe required steps must
have been accomplished in a three month window in 2005.
19. The assignment is without effect because it does not get the note or deed
of trust to the trust vehicle, much less giving Wells Fargo any standing.
20. The REMIC Sponsor is REQUIRED to sellthe note in a true sale to the
Depositor Park Place Securities, lnc. in order to make it bankruptcy
remote. Without such a true sale it is legally impossible for the note to be
part of the trust.
21. The Depositor then sells the note in a true sale into the special purpose
trust vehicle (SPV) 2005-WCH1 of which Wells Fargo, N.A. is the trustee
named by the PSA.
22. Afier Wells Fargo, N.A. ceftifies that it has received all the paperwork for
that trust (promissory notes, mortgages, deeds of trust, title insurance and
other documentation), the Trustee issues to Park Place Securities, lnc. the
security certificates which Park Place and the Underwriter then sell to the
investors.
23. The Depositor is critical to the formation of the trust and the conveyance
of the property and no entity has more standing or knowledge.
24. ln this case, no entity has provided documentation that the subject
property has ever been deposited into this or any REMIC trust.
25. The promissory note is only endorsed to Ameriquest. lt is not endorsed to
Park Place Securities, lnc. or by Park Place as Depositor into the trust
vehicle.

The Entire Process Used is a Fraud

26. !n this or any REMIC Trust the Trustee (i.e. Wells Fargo) NEVER collects
mortgage payments and it NEVER forecloses. Due to the fact that no
REMIC trustee collects mortgage payments, it has no idea if the payments
are made. No Trustee can declare a default because the borrower owes
no duty to the Trustee, the Trustee has no personal knowledge, and it is
not the duty of the Trustee to foreclose.
27. Likewise, the Trustee never sends the Notice of Default.
28. Stated another way, a party can not plead the contract rights of a nonparty, or, a corporation can not plead the contract rights of another
corporation.
29. The duty to collect mortgage payments and to foreclose is that of the
Master Servicer named in the PSA, which are its fiduciary duties in return
for collecting 16 percent off the top of all mortgage payments.
30. The Master Servicer, in this case, Chase Bank (as successor to J.P.
Morgan), is required to purchase the note from the trust at full value and
foreclose in its own name.
31. Due to the level of defaults and the expense of following its fiduciary
duties under the PSA, Chase Bank has contracted away or assigned its

fiduciary duties (contrary to public policy) to a third party - which in the


instant case is Ocwen Loan Servicing. Ocwen is called a Sub-Servicer.
32. Oewen is NOT a party to the trust, never was, and has no standing
whatsoever under the PSA.
33. The only standing Ocwen has is from a sub-servicing contract it has from
Chase Bank.
34. Ocwen collects the mortgage payments and handles foreclosures so
Chase does not have follow its contracted fiduciary duties.
35. A REMIC trust can not accept or hold defaulted notes/properties. lt is the
duty of the Master Servicer to remove them by purchase. However, by
foreclosing in the name of the trust, the note remains in the trust as a
liability to the investors, rather than as a liability to the Master Servicer.
The investors should never be saddled with these liabilities and the
associated costs. Unlike a business corporation with stockholders, REMIC
investors do not own the assets of the trust. They are only entitled to the
income stream. They are further cheated out of the foreclosure income by
the banks unethical scheme.
36. ln judicial and non-judicialforeclosures the Sub-Servicer appears in the
guise of the Trustee, while in reality the Trustee NEVER appears in court
and never has any knowledge of the foreclosure.
37. No REMIC trustee would or could accept a defaulted note, much less after
the trust has closed and from a party other than the Depositor.
38. ln conclusion, the Deed of Trust Assignment does NOT get the note or
deed into the Park Place Trust and no REMIC Trustee would ever accept
it as it would break the trust and render all parties subject to extreme tax
penalties and civil liability.
39. In the instant case Ocwen is impersonating Wells Fargo, N.A. which itself
stands silent as it has no authority to collect mortgage payments, no
knowledge of them to declare a default or to foreclose.

The Deed of Trust Assignment is a Fraud


Based on Public Record and Extensive Research
Together with Personal Knowledge

40.The Deed of Trust assignment, besides not accomplishing its goal, is an


outright fraud, signed by Joe Pires, an employee of Ocwen at its office in
Palm Beach, Florida.
41. ln 2008 Olympus Mortgage ceased to exist in Florida, including under any
variation of its name.
42. A defunct corporation has no vice president or any other officer.
43. Any power of attorney issued by Olympus died with it in 2008.
44. The address given for Olympus Mortgage in Orange, CA is the address of
Prospect Medical Group. Olympus has ceased to exist for many years.
45. Olympus Mortgage does not exist in California.

46. Olympus Mortgage does not exist in Colorado'


47. There is no evidence that Olympus has any successor corporation.
48. Ameriquest Mortgage is not located with Ocwen in Palm Beach, FL.
49. Contrary to press reports at the time, Citigroup, also known as Citi
Residential Lending, did NOT purchase Ameriquest Mortgage Company.
50. Citigroup purchased the mortgage assets including origination and
servicing which were quickly merged into Citi Residential Lending. This is
confirmed by Citi in judicial proceedings and in media reports.
b1. Ameriquest still exists. lt is a CA corporation with its offices in Anaheim
Hills, CA. All of its officers and directors live in that area.
52. Ameriquest is in good standing in Florida but does not have a Florida
office. lts registered agent is in Plantation, FL.
53. Joel Pires can not be an "Attorney ln Fact" for Olympus aS it does not
exist and any power of attorney would be null and void.
54. Any power of attorney he allegedly has from Citi Residential Lending is
meaningless as it has no standing or ownership interest whatsoever. lf the
principal has no standing, its agent has no standing.
55. The actualAmeriquest Mortgage Company has no knowledge of this
Assignment of Deed of Trust and has never accepted this assignment.
56. An assignment is considered a contract but is not a binding contract
without an acceptance by the receiving pafi.
57. Even if the assignment was legal or binding, it still is meaningless and
would have no legaleffect.
58. Because the promissory note is endorsed to Ameriquest, Ameriquest
would be the proper party to enforce the note (outside of the trust) but as
Ameriquest sold the note into a REMIC, it would have no standing. There
is no evidence what REMIC trust this note was sold into.
5g. Even if actually assigned to Ameriquest, that entity could do nothing with
it that could affect the trust. There simply is no process available to sell the
note or deed of trust into the REMIC Trust. Never mind it is I years after
the trust has closed.
60. The only entity that could sell the note into the REMIC trust at any time
was Park Place Securities, lnc. There is no evidence that Park Place
Securities has done so.
61. ln theory, Ameriquest could foreclose, but it gives no standing to Wells
Fargo or Ocrruen even if it wasn't an outright fraud.
62. For all the reasons stated herein, the Assignment of the Deed of Trust is
a meaningless exercise in nonsense even if it were not an outright fraud
upon the court.
63. In conclusion, none of the parties purporting to have standing to foreclose
actually have any standing whatsoever. The entire process is a fraud upon
the court, the trust and investors. None of the parties have paid a dime or
loaned a penny to the property owner/borrower and none have any
standing to collect, much less to enforce collection.
64. The borrower owes no duty to any parry involved in this foreclosure.

65. Based upon all available evidence, the instant property has never been
legally conveyed to the named trust, thus the Trustee (Wells Fargo) nor
the Master Servicer (Chase Bank) has any standing'
66. The hired gun of Chase Bank - Ooryen - as the agent of a principal
without standing, stands before the State of Colorado without any
authority to participate in these proceedings in any way'
67. Any legal counsel involved in these proceedings for a false party are
suboming perjury and participating in civil and po+sible criminalfraud.
Precedent establishes litigation privilege does not apply to non-judicial
foreclosures in Colorado.
68, Any person or entity reading this affidavit stands so wamed-

I do hereby attest and swear under oath that this affidavit and the facts alleged

are true and conect to the best of my knowledge.

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Dated:

Dan F. Schramm
President
Park Place Seeurities, lnc.
2011 Flagler Avenue
Key West, FL 33040
Phone: 305-340-1234
Email: dan(Oparkplacesecuritiesinc.com
Fax: 305-570-3273
Sworn to and subscribed before me, the undersigned authority, in Monroe
Cor.rnty, Florida,

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