certified forensic loan auditors, llc · “this is a securitization analysis report and not a...

CERTIFIED FORENSIC LOAN AUDITORS, LLC 13101 West Washington Blvd., Suite 140, Los Angeles, CA 90066

Phone: 310-432-6304; [email protected]

www.CertifiedForensicLoanAuditors.com

PROPERTY

SECURITIZATION ANALYSIS REPORTTM

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

Prepared for:

JOHN DOE

On behalf of:

JOHN DOE

For Property Address

1010 Wall St.

New York, NY 10005

Prepared on: December 15, 2012

Page | 1 COPYRIGHT 2011 CERTIFIED FORENSIC LOAN AUDITORS, LLC COPYRIGHT 2011

-All Rights Reserved-

http://www.certifiedforensicloanauditors.com/

SECTION 1: TRANSACTION DETAILS

BORROWER & CO-BORROWER:

BORROWER CO-BORROWER

JOHN DOE None

CURRENT ADDRESS SUBJECT ADDRESS

1010 Wall Street New York, NY 10005 1010 Wall Street New York, NY 10005

TRANSACTION PARTICIPANTS

AMOUNT

MORTGAGE SERVICER

MORTGAGE

NOMINEE/BENEFICIARY

Mortgage Electronic

Registration Systems, Inc.

$520,000.00

ORIGINAL MORTGAGE

LENDER

Metrocities Mortgage, LLC

15301 Ventura Blvd.

Suite D300

Sherman Oaks, CA 91403

JPMorgan Chase Bank, NA

Monroe, LA

MORTGAGE TRUSTEE

Fidelity National Loan

Portfolio Solutions

(“MERS”)

PO Box 2026

Flint, MI 48501-2026

(888)679-MERS

TITLE COMPANY

First American Title

Insurance Company



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

ISSUING ENTITY

J.P. MORGAN

MORTGAGE TRUST 2005-

A4

J.P. MORGAN

MORTGAGE

ACQUISITION CORP.

TRUSTEE

Wachovia Bank, NA (n/k/a

Wells Fargo Bank, NA) per

Prospectus

US Bank, NA per

Bloomberg, LP (purported

successor)

J.P. MORGAN

ACCEPTANCE

CORPORATION I

MASTER SERVICER/

SERVICER

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



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



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

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.



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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S-2

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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



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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S-3

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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



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



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

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



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


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 Depositor’s 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 Seller’s rights under the

Purchase and Servicing Agreements pursuant to the Acknowledgements; (iv) all of the Depositor’s

right, title or interest in REO Property and the proceeds thereof; (v) all of the Depositor’s rights un-

der any Insurance Policies related to the Mortgage Loans; and (vi) if applicable, the Depositor’s 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 Depositor, 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.



In connection with such transfer and assignment of the Mortgage Loans, the Custodian act-

ing on the Trustee’s 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 documents,

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 certification

(“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 Custodian

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

intervening 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) endorsed 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



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 jurisdiction 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)

if applicable, with respect to each Mortgage Loan (other than a Cooperative Loan),

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)

if applicable, with respect to each Mortgage Loan (other than a Cooperative Loan), 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 Cooperative

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)



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 Custodial

Agreement.

In addition, in connection with the assignment of any MERS Mortgage Loan, it is understood 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 Agreement

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 information

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 Master 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 delivers to

the Trustee, or to the Custodian on behalf of the Trustee, an Officer’s 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.



(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 trustee’s act that is contrary to the trust agreement is void. (NY Estates, Powers and Trust Law §

7-2.4)



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

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

June 30, 2009 Instrument #



JOHN DOE (Borrowers)

Metrocities Mortgage, LLC (Lender)

MIN# 1000342-0000238462-0

Notice of Default

April 7, 2005

June 1, 2005

Metrocities Mortgage, LLC

( Lender) Principal Amount: $520,000.00

LOAN # 21034869

J.P. MORGAN MORTGAGE

TRUST 2005-A4 Lender

Principal Amount: $520,000.00

July 30, 2009 Instrument #



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 Four Notices of Trustee’s Sale Official Records,


September 29, 2011

Instrument # 55500

Official Records, Santa Barbara County California

Trustee’s Deed

To JPMorgan Trust 2005-AR4



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 Trustee’s Sale:

On October 5, 2009; January 31, 2011; February 8, 2011; and May 18, 2011, four Notices of

Trustee’s Sale were recorded in the Official Records, Santa Barbara County as instrument

numbers 60330; 6243; 8244; and 29287, respectively.

Trustee’s 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.



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.”



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



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



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



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

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



STRUCTURED FINANCE NOTES SCREEN

Lists the primary parties to the securitization transaction



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.)



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



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



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

CONCLUSION



CHAIN OF TITLE

SAN BARBARA COUNTY

DONDI STEVENS

BORROWER TRUSTOR

MORTGAGOR/MORTGAGER GRANTOR

NOTE WAS SPLIT FROM THE DEED

DEED OF TRUST FIRST AMERICAN TITLE

TITLE COMPANY/

ESCROW

PROMISSORY NOTE

MONTHLY

PAYMENTS

WELLS FARGO BANK, N.A.

CALIFORNIA

MAINTAINS ASSIGNMENT HISTORY

DEED ISSUED TO MERS SPLIT FROM NOTE

MERS

CUSTODIAN

Maintains Assignment History

No physical possession

NOTE WAS SOLD

& TRANSFERRED

JPMORGAN MORTGAGE ACQUISITION CORP.

SELLER

Purchases loans from originator; forms pool

JPMORGAN

ACCEPTANCE CORPORATION I

DEPOSITOR Creates Issuing Entity

JPMORGAN MORTGAGE TRUST

2005-A4

TRUST FUND - ISSUING ENTITY Holds pool of loans; issues certificates

METROCITIES MORTGAGE, LLC

LENDER/ ORIGINATOR

CERTIFICATES

CERTIFICATES

MASTER SERVICER

Services individual loans; Aggregates

Collection; Performs Duties under Trust’s Pooling & Servicing Agreement

JPMORGAN

UNDERWRITERS

SELLS CERTIFICATES TO INVESTORS; COLLECTS

OFFERING PROCEEDS

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

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

CERTIFICATES

OFFERING PROCEEDS

INVESTORS

Purchase Mortgage Backed Securities as defined in

Certificates

RETURN ON INVESTMENTS

ARROW LEGEND

PURPLE - MORTGAGE DOCUMENTS

BLUE - SECURITIES CERTIFICATES

RED - INVESTOR FUNDS GREEN - BORROWER FUNDS



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 borrower’s 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.



https://www.mers-servicerid.org/sis/search/

The loan is registered within the MERS database showing JPMorgan Chase Bank as both as

Servicer and stated Investor.



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”



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 Trust’s 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.



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 loan’s 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.



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 Bloomberg’s 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

1The 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.



5. On December 15, 2012, I researched the Bloomberg online Database at the request of JOHN

DOE whose property address is 1010 Wall Street New York, NY 10005.

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 DOE’S 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 DOE’S 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.



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



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



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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