2013-09-12ml-implode.com

``Richard Antognini is the appellate lawyer that represented Mr. Thomas Glaski of Fresno, California... and he's my guest on this Mandelman Matters Podcast. Arguing the case in the Fifth District of California's Court of Appeal, Richard managed to beat the odds, somehow persuading the high court to render a decision that now allows Mr. Glaski to return to the trial court, where he will be permitted to challenge the validity of his loan's assignment to the securitized trust that over four years ago, foreclosed on his home.

If he prevails, and the lower court rules that the assignment of his loan to the trust was in fact void, his foreclosure will be considered a "wrongful foreclosure," and he will be eligible to receive monetary damages.

The key issue involves the timing of the loan's assignment. As Richard explained to the court, the Pooling & Servicing Agreement ("PSA"), which is the governing contract involved, along with the Internal Revenue Code and New York State's trust law, all make it clear that if the loan wasn't assigned within the stated period of time, the trust becomes closed and can no longer accept any more loans. Some PSAs allow loans to be assigned for 90 days after the trust closes, others only allow for 45 days.''


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