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Question: Does the "original creditor" have standing to bring legal action against a borrower, if, the student loan borrowers accounts are bundled with other student loans, that were originated around the same time, and they were sold, assigned, conveyed and transferred and ultimately were then used as collateral for security Class Notes offered by SLABS, to prospective investors? Who is now the owner of these loans? Would it now be the investors who are the holders/owners of these loans. Does the original creditor have standing to sue? Thank you for your response.
I was looking for summary judgment authorities and came across this webpage: http://www.matthewparhamlaw.com/index.php?option=com_content&view=article&id=80:citimsj&catid=1:latest-news&Itemid=50 So hating to raise the securitization demon, I read the topic as an exclusion for recovery. Even though I don't especially care for it if it works it must be posted. This page lays it out and could be more helpful than we know. http://www.jdsupra.com/post/documentViewer.aspx?fid=f8dbf8e5-fea5-4968-ac02-ba1517a921f4 and finally this which may bolster arguments in CC cases AND Mortgage forclosures. http://lawpraxis.blogspot.com/2012/05/levitin-and-usury-laundering-theory.html For the record if it sounds like I am jumping on the securitization bandwagon, I am not but if it could help someone win I am for that. Maybe these arguments are the way to go. @admin: Sorry I thought that snake wouldn't come up on the new board. Rest assured I will take my spanking like a man.