bank of new york mellon trust company foreclosures

You can find foreclosure properties by using search filters on Zillow's search and maps page. Why would we return to this?. April 3, 2019. 1735 Market Street Fund Socy., FSB v Zimmerman, 157 AD3d 846 [2018]; Deutsche Bank Natl. Public Records Policy. The Bank of New York Mellon Trust Company, National Association and BNY Mellon Trust Company of Illinois house trust products and services across the . Global supply chains have faced significant challenges in recent years. "POTUS" is an acronym political journalists frequently use when talking about the President of the United States. The bank along with its debt-collector partners Shellpoint Mortgage Servicing and law firm McCabe, Weisberg & Conway are accused by a class-action lawsuit of systematically trying to foreclose on mortgages after the states six-year statute of limitations had passed. This specific lawsuit settled for $95 million. Government would provide a limited guarantee to investors against catastrophic losses, but the private banks would make the securities, to generate more capital for home loans and expand homeownership. Give a reacurring monthly donation at any level. Are paper checks on their last legs? Boston, MA 02108-4408, United States U.S. Bank N.A. I have been able to find other deeds signed by Lisa that are without a doubt different. At bar, the plaintiff is: Case opinion for NY Supreme Court BANK OF NEW YORK MELLON TRUST COMPANY v. Armand Retamozzo, nonparty-appellant.. Read the Court's full decision on FindLaw. +1949 397 2439, Wealth Management Office Investors either get paid even if the borrower is not performing or they dont get paid even if the borrower is performing. Seeing this I looked at the Minnesota notary standards, rules, and laws, it clearly states that a conflict of interest would disqualify a notary, business being one. As a result, the trusts could not establish ownership of the loan when they went to foreclose, forcing the production of a stream of false documents, signed by robo-signers, employees using a bevy of corporate titles for companies that never employed them, to sign documents about which they had little or no knowledge. Suite 150 (They were probably right about that one.). Zimmerman Law, P.C., Huntington Station, NY (Michael Zimmerman of counsel), for +1 424 277 6829, 333 South Hope Street Indianapolis, IN46204, United States, One Boston Place Boston, MA 02108-4408, United States A Trellis Expert will contact you to discuss the best options for your business. Get information on foreclosure homes for rent, how to buy foreclosures in Bank Of New York, NJ and much more. v Collymore, 68 Suite2525 Ordered that the order and judgment of foreclosure and sale entered December 17, 2015, is New York, NY 10166, United States Finally, "[i]n order to vacate a default in opposing a motion pursuant to CPLR 5015 (a) (1), And it renders some properties impossible to sell. to CPLR 5015 (a) (3) to vacate the order dated December 2, 2010, granting the plaintiff's motion, Ready to grow your business? 1. Now that its unsealed, Szymoniak, as the named plaintiff, can go forward and prove the case. 500 Grant Street But the underlying evidence was never revealed until the case was unsealed last Thursday. 1450 Brickell Avenue San Francisco, CA 94105, United States As a result I was unable to catch up to the tremendous amount that I had fallen behind. Chicago, IL 60602, United States review those "matters which were the subject of contest" before the Supreme Court (James v Our global scale and flexible solutions are the reason why our clients and their advisors choose us to help execute on their business ambitions. Global supply chains have faced significant challenges in recent years. v Noble, 144 AD3d 786 [2016]; U.S. Bank, N.A. 2nd Floor, AIM 193-0261 "The determination of what constitutes a reasonable excuse lies within the sound discretion of Note - Full banking services are not available at this office. Suite 950 plaintiff's motion, inter alia, for summary judgment on the complaint, and the order dated July The Bank of New York Mellon Trust Company, The Bank of New York Mellon Trust Company Locations, The Bank of New York Mellon Trust Company, 500 ROSS STREET TRUST OFFICE, The Bank of New York Mellon Trust Company, BIRMINGHAM TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, Columbus Trust Office Branch, The Bank of New York Mellon Trust Company, DALLAS TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, INDIANA TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, Jacksonville Trust Office Branch, The Bank of New York Mellon Trust Company, LA SALLE TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, LOUISVILLE TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, PHILADELPHIA TRUST OFFICE BRANCH, The Bank of New York Mellon Trust Company, San Francisco Trust Office Branch. Accordingly, in this case, review is limited to so much of the order and judgment of Chicago, IL 60606-6622, United States 10th Floor (8th Floor) (Subscribe to View) Find out the answers to these, and other pressing questions, in our exclusive report with Aite-Novarica. The NYCTL is a special trust formed by New York City, with trustees appointed by the City. In opposition, the defendant +1 800 441 9800, 301 Bellevue Parkway During the housing bubble, banks bought loans from originators, and then (in a process known as securitization) enacted a series of transactions that would eventually pool thousands of mortgages into bonds, sold all over the world to public pension funds, state and municipal governments and other investors. 2023 THE BANK OF NEW YORK MELLON CORPORATION, Governments, Sovereigns & Not-For-Profits. However, Fannie Mae and Freddie Mac, the two government-backed institutions that buy mortgages from lenders such as this bank, sell bank-owned REO properties, states Fannie Mae. Suite 4100 Sign up for updates from occupy.com. REO listings in New York City, NY Find REO properties, free of title liens and vacant. 333 South Hope Street Suite 2525 Los Angeles, CA 90071, United States View on Map Menlo Park BNY Mellon Wealth Management 3000 Sand Hill Road, #3-290 Menlo Park, CA 94025, United States +1 650 233 1200 View on Map Newport Beach BNY Mellon Wealth Management Wealth Management Office +972 362 6220, 2001 Bryan Street Headquarters New York . That number is actually the total for a number of whistle-blower lawsuits that were folded into a larger National Mortgage Settlement. +1 561 693 4544, Wealth Management Office Track Case Changes, Hon. Sukhu which were pursuant to CPLR 5015 (a) (1) to vacate the order and judgment of The case status is Pending - Other Pending. On December 17, 2015, the court granted the plaintiff's motion, unopposed Los Angeles, CA 90071, United States, 3000 Sand Hill Road, #3-290 Pittsburgh, PA 15258, United States, Private Banking Office A plaintiff has standing to commence a foreclosure action where it is the https://therealdeal.com/2020/01/16/bny-mellon-faces-suit-over-foreclosures-from-the-housing-crash/, Cancellation, Expungement, Reformation and Quiet Title, Why Ocwen Investors Are Losing Money: 77% loss over 5 years, https://www.bing.com/search?q=TRILLIONS%20LOOTED%20%20MONEY%20%20CHURNING%20%20%20%20MONEY%20%20LAUNDERING%20%20PARKING%20%20MONEY%20%20%20FLIPPING%20%20%20ASSETS&qs=n&form=QBRE&sp=-1&pq=trilliomoney%20churning%20money%20laundering%20parking%20money%20flipping%20assets&sc=0-68&sk=&cvid=13FF979445EE4823AD4ACF9B615CE4C0, FREE REGISTRATION FORM AND EMAIL COMMENT FROM NEIL, New Law, New Doctrine and Voir Dire of Judges in Bench Trials. +1 516 338 3300, 4235 South Stream Blvd Twenty-eight banks, mortgage servicers and document processing companies are named in the lawsuit, including mega-banks like JPMorgan Chase, Wells Fargo, Citi and Bank of America. Headquarters address: One Wall Street New York, NY 10286 United States Phone number: 212-495-1784 Fax: 212-495-2546 Website: www.bnymellon.com appellant. Are cryptocurrency payments more than a passing fad? By the end of 2009, private mortgage-backed securities trusts held one-third of all residential mortgages in the U.S. That means that tens of millions of home mortgages worth trillions of dollars have no legitimate underlying owner that can establish the right to foreclose. potentially meritorious opposition to the motion" (Hudson City Sav. How about it Texas. failed to offer a potentially meritorious defense to the action (see Signature Bank v Epstein, 95 AD3d 1199 [2012]; Long Is. By order dated December 2, 2010, the Supreme Court granted the dismiss the complaint insofar as asserted against her. Trust Co. v Romano, 147 AD3d 1021 [2017]; the moving party is required to demonstrate a reasonable excuse for his or her default and a warrant vacatur of the order dated December 2, 2010, pursuant to CPLR 5015 (a) (3) (see LaSalle Bank N.A. Ordered that the appeal from the order and judgment of foreclosure and sale entered Suite 19A-0307 Americans finances could be personally affected if elected officials put our earned benefits like Social Security on the chopping block, all just to undertake a simple accounting maneuver. [2011]; Credit-Based Asset Servicing & Securitization v Chaudry, 304 AD2d 708 This case was filed in U.S. District Courts, Massachusetts District Court. Los Angeles, CA 90071, United States, 333 South Hope Street In 2011 Assignment of Deed of Trust shows Americas Wholesale Lender conveys property through MERS to Bank of New York Mellon. Menlo Park, CA 94025, United States . You will receive a notification when the docket is refreshed. 615 [2013]). Republicans are more fractured and divided than they have been in recent memoryand the trend of appeasing a toxic minority of representatives could prove dangerous, not just for the business of governing but for democracy itself. 12, 2011, denying the defendant's motion, inter alia, to vacate the order dated December 2, 2010, Suite 2700 We will email you Finally, one place to get all the court documents we need. Boston, MA 02108-4408, United States BNY Mellon | Consider Everything ONWARD TO OPPORTUNITY A rich history, pivotal role in global markets and more opportunity ahead read our 2022 Annual Report, which highlights progress to date across various initiatives, as well as our focus on execution and efficiency. +1 888 553 6726, 1735 Market Street All of them bought mortgage-backed securities from banks that never conveyed the mortgages or notes to the trusts. vacate the order and judgment of foreclosure and sale entered upon her default and, thereupon, to the Supreme Court" (Deutsche Bank Suite 5400 Using Bank of New York Mellon as owner in ownership history. Suite 300 We will never share your email with anyone else. Houston, TX 77019, United States, 7900 Tysons One Place Philadelphia, PA 19103-7589, United States +1 407 833 5000, 300 Colonial Center Parkway BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various subsidiaries generally. Washington Post reporter Drew Harwell talks about how Americans are welcoming surveillance devices like Ring and Nest into their homes, and as they can now watch their front doors, babysitters, children and pets all day long how surveillance has become normalized. Your subscription has successfully been upgraded. I also looked her up on the Minnesota Notary public database, and she was not commissioned as a notary until 2013. +1 212 495 1784. Nonetheless, the appeal from a judgment brings up for Pittsburgh, PA 15258-0001, United States represented by 240 Greenwich Street v Cohen, 156 AD3d Once the home is in foreclosure, lenders such as the Bank of New York Mellon offer the home for sale at auction. +1 702 830 4913, One Pershing Plaza Find the best foreclosure homes listings for sale bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) Read More. Im really glad I was part of collecting this money for the government, and Im looking forward to going through discovery and collecting the rest of it, Szymoniak told Salon. Search for a property listing. Natl. The complaint was filed in the United States District Court for the Southern District of New York in November. The NYCTL engaged Tower to service these tax liens. Note - Banking services are not available at this office. Your subscription was successfully upgraded. A trustee would pool the loans and sell the securities to investors, and the investors would get an annual percentage yield on their money. On 12/28/2021 BANK OF NEW YORK MELLON TRUST COMPANY NA AS TRUSTEE FOR MORTGAGE ASSETS MANAGEMENT SERIES I TRUST filed a Property - Foreclosure lawsuit against THE UNKNOWN HEIRS BENEFICIARIES DEVISEES GRANTEES ASSIGNEES LIENORS CREDITORS TRUSTEES AND ALL OTHERS WHO MAY CLAIM AN INTEREST IN THE ESTATE OF. The defendants are accused of resurrecting foreclosure actions that have expired and, in doing so, violating the Fair Debt Collection Practices Act, which prevents debt collectors from using false and deceptive representations. This prompted me to look through the documents that I have in my archive. Denver, CO 80206, United States, Greenwich, CT 06830, United States Suite 300 According to the suit, A typewritten note on the right hand side of the document states: This Assignment of Mortgage was inadvertently not recorded prior to the Final Judgment of Foreclosure but is now being recorded to clear title., This admission confirms that the mortgage assignment was not made before the closing date of the trust, invalidating ownership. affirmed insofar as reviewed; and it is further. Even if the defendant had demonstrated a reasonable excuse for her default, she Are they really mortgage loans? How did Wells Fargo, Chase or BofA Get Involved in Your Transaction? we will contact you in the next business hour. Select which category best suits you. Bank of New York Mellon Trust Company, N.A., Formerly Known as the Bank of New York Trust Company, N.A., as Successor to JP Morgan Chase Bank, N.A., as Trustee of MARM 2004-6, 3451 Hammond Avenue Waterloo, IA 50704-5400, Respondent, . v Akande, 136 These are the discrepancies that I have been able to uncover. Industry Banking. We need to reverse policies that make the super-rich even richer, and create a narrative to challenge their wealth and devastating power, which are inextricably linked. try clicking the minimize button instead. 240 Greenwich Street The Judge overseeing this case is GILLMAN , PAIGE. in the jurisdiction of Martin County, FL. No. for this document. The suit further argued that the act of fabricating the assignments is evidence that the MBS Trust did not own the notes and/or the mortgage liens for some assets claimed to be in the pool.. Bank of New York Mellon faces a reckoning from residential foreclosure cases in New York that date back to the subprime mortgage crisis. 9th Floor Greg Mitchells new, short documentary addresses the California campaign for governor in 1934, when the boundaries between politics and media first became blurred. +1 203 487 5758, Corporate & Financial Headquarters I can go on with the sob story but I will get with the facts. +1 305 547 8608, Wealth Management Office Atlanta, GA 30327, United States Los Angeles, CA 90067, United States filed a Foreclosure - (Property) case represented by Meisels, Jonathan against Mcmahon Aka Nancy A Mc Mahon, Unknown Spouse Of Nancy A et al. +1 860 561 4602, Two Greenville Crossing Jersey City, NJ 07302, United States, 1 Giralda Farms At BNY Mellon, Corporate Trust is one of our core businesses and competencies. motion. Why is this public record being published online? Despite Szymoniak seeking a trial by jury, the government intervened in the case, and settled part of it at the beginning of 2012, extracting $95 million from the five biggest banks in the suit (Wells Fargo, Bank of America, JPMorgan Chase, Citi and GMAC/Ally Bank). 65 LaSalle Road +1 312 827 8500, Wealth Management Office Beachwood, OH 44122, United States, 1735 Market Street when new changes related to " are available. Newport Beach, CA 92660, United States Case Summary On 08/17/2021 BANK OF NEW YORK MELLON TRUST COMPANY NA AS TRUSTEE FOR MORTGAGE ASSETS MANAGEMENT SERIES I TRUST filed a Property - Foreclosure lawsuit against RESCH, MARIE H. This case was filed in Palm Beach County Courts, Main Branch located in Palm Beach, Florida. Mark Anderson, an attorney at the Queens-based law firm Shiryak, Bowman, Anderson, Gill and Kadochnikov, which filed the case, said his firm noticed an uptick in foreclosure cases initially filed in the wake of the subprime crisis more than a decade ago and now being revived, despite the statute of limitations expiring. The order, insofar as appealed from, denied those branches of the motion of the defendant Sharry Why should we view this in any way as a sound public policy, instead of a ticking time bomb that could once again throw the private property system, a bulwark of capitalism and indeed civilization itself, into utter disarray? Finally, the lawsuit argues that the federal government was harmed by payments made on mortgage guarantees to Defendants lacking valid notes and assignments of mortgages who were not entitled to demand or receive said payments.. On 12/16/2021 BANK OF NEW YORK MELLON TRUST COMPANY NA filed a Property - Foreclosure court case against THE UNKNOWN HEIRS IN THE ESTATE OF PATRICIA L MARTELI in Hillsborough County Courts. 144 Glenn Curtiss Blvd. v Collymore, 68 AD3d 752, 753-754 [2009]). These servicing activities will include the managing of foreclosures on those properties where outstanding tax liens remain unsatisfied. Suite 1805 Garden City, NY 11530, United States New York filed a complaint for foreclosure on April 29, 2013, alleging that Walker was delinquent on a note held and enforceable by Bank of New York. +1 781 943 2200, 4400 Computer Drive Las Vegas, NV 89135, United States The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City.BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. by the defendant, to confirm the referee's report and for a judgment of foreclosure and sale, and +1 412 923 4657. +1 617 722 7000, 135 Santilli Highway Bank of America can help you learn about home foreclosures with helpful tools, resources and mortgage products that can help make the process of buying a bank foreclosure . I have over 500 cases that are dealing with this issue and thats just my firm, said Anderson. +1 813 579 6552, Wealth Management Office The Bank of New York Mellon Trust Company. Global supply chains have faced significant challenges in recent years. The Judges overseeing this case are SWEET, GARY L and SALE, FORECLOSURE. 138 AD3d 1077, 1078 [2016]; Aurora Loan Servs., LLC v Ahmed, 122 AD3d 557, 557 [2014]). Most of official Washington, including President Obama, wants to wind down mortgage giants Fannie Mae and Freddie Mac, and return to a system where private lenders create securitization trusts, packaging pools of loans and selling them to investors. Bank v Mihalios, 269 AD2d 502 [2000]; First N. Mortgagee Corp. v Yatrakis, 2022-11-16, Martin County Florida Courts | Property | Nip It In the Bud! +1 617 248 6000, 100 St. Paul Street In these uncertain times, supply chain finance and digital networks are providing clients with much-needed support. judgment on the complaint, and an order of the same court dated July 12, 2011, denying the 2023 THE BANK OF NEW YORK MELLON CORPORATION, Governments, Sovereigns & Not-For-Profits, Learn how our clients make a difference in their communities through a trusted relationship with BNY Mellon. Discover owning bank and their contact details, last sale date and price history. How do you challenge illegal claims to administer, collect or enforce claims arising from transactions with homeowners? For full print and download access, please subscribe at https://www.trellis.law/. Mastro, J.P., Dillon, Maltese and LaSalle, Chicago, IL 60602, United States By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Suite 610 1D17-4421. Ordered that the order dated June 10, 2016, is affirmed insofar as appealed from; and it is Suite 300 1250 H Street NW Larizza, 129 AD3d 904 [2015]; Chase Home Fin., LLC v Miciotta, 101 AD3d 1307, 1307-1308 Dallas, TX 75201, United States, 2229 San Felipe Street, 15th Floor West Hartford, CT 06107, United States This reality, which banks did not contest but instead settled out of court, means that tens of millions of mortgages in America still lack a legitimate chain of ownership, with implications far into the future. 505 N. 20th Street Global supply chains have faced significant challenges in recent years. The Company's segments include Securities Services, Market and . The Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company. v Cox, 148 AD3d 962 [2017]; Deutsche Bank Natl. I am writing in regards to the mortgage withi my home. entered a judgment of foreclosure and sale. Uniondale, NY 11556, United States )The first Deed was transferred From GMAC to MERS and the second was transferred to OCWEN to LSF9. We have notified your account executive who will contact you shortly. I need advice and direction for my case against GMAC/MERS/OCWEN, Green New Deal XXI: The Rich Are Killing Our Planet. further. Naples, FL 34103, United States United States Your docket refresh request has been received. "Concomitantly, RPAPL 231(6) provides, in relevant part, that a court, within one year after a foreclosure sale, may set the sale aside for failure to comply with . 7/19/2022: NOTICE OF CHANGE OF ADDRESS OF PLAINTIFF'S COUNSEL: 7/18/2022: PAYMENT $70.00 RECEIPT #220021636, 7/18/2022: PAYMENT $70.00 RECEIPT #220021635. BNY . Suite 200 Lake Mary, FL 32746, United States AMENDED COPY OF CERTIFICATE OF TITLE RETURNED FROM OFFICIAL RECORDS BK 3331 PG 2538: COPY OF CERTIFICATE OF TITLE: **AMENDED** TO ADD PROPERTY DESCRIPTION, AFFIDAVIT OF ADDITIONAL COSTS AND CALCULATION OF STATUTORILY ACCRUED INTEREST. 146 AD3d 945, 945-946 [2017]; Golden First Bank v Tal, 136 AD3d 974 [2016]; Citimortgage, Inc. v Bustamante, 107 Second the Good Faith Estimate was left without signatures. 1. Your alert tracking was successfully added. standing. Your recipients will receive an email with this envelope shortly and He believes thousands of homeowners could qualify to be part of the suit if it gets class-action status. (hereinafter the defendant) answered the complaint and asserted the affirmative defenses of the Greenville, DE 19807-2018, United States BNY Mellon Center 2018) Annotate this Case Download PDF of 0 An error occurred while loading the PDF. The loan was ultimately assigned to the Bank of New York Mellon Trust Company(hereinafter "the bank" or "Mellon"), which is the current mortgagee of the home. +1 650 233 1200, Wealth Management Office +1 973 968 4485, 1800 American Boulevard Suite 950 Suite 350 Are paper checks on their last legs? Visit our FAQ page or contact us using the link below. Pittsburgh, PA 15258, United States, BNY Mellon Center Now you can wear your support too! If you know about foreclosure fraud, the mass fabrication of mortgage documents in state courts by banks attempting to foreclose on homeowners, you may have one nagging question: Why did banks have to resort to this illegal scheme? This was all done to establish standing to foreclose in courts, which the banks otherwise could not. The lawsuit states that banks resorted to fake documents because they could not legally establish true ownership of the loans when trying to foreclose. SO The Paper Land Con, America Looted Stupid and the Great Texas Bank Job are all very relevant .. GERMANE . Our knowledge combined with our capabilities are unrivaled in the industry, furthering our market leadership across various asset types. assignment prior to the commencement of the [*3]action with the defendant opposed the motion. Also, these investors (which includes the Treasury Department and the Federal Reserve) paid for the transfer of mortgages to the trusts, yet they were never actually transferred. Miami, FL 33131, United States We will email you this document within 4 business hours. . The Bank of New York, which merged in 2007 with Pittsburgh's Mellon Financial to form BNY Mellon. U.S. Bank N.A. v Oberstein, Everett, MA 02149, United States To find listings for bank-owned properties, enter your search area on Zillow, then click "Listing Type" and choose "Foreclosures" under the "For Sale" heading. Save thousands at closing with home . Butler, J. BNY Mellon is a leading global brand that helps issuers and investors Consider Everything throughout the securitization lifecycle. The Forum One Summerlin Court records for this case are available from Edgecomb Courthouse. Here, the plaintiff's standing was Sav. 103 and 301 Bellevue Parkway those issues were not raised before the Supreme Court in opposition to the plaintiff's motion (see Nationstar Mtge., LLC v Kamil, Fort Lauderdale, FL 33301, United States 1600 Newport Center Drive It is the world's largest custodian bank and securities services company, with $1.8 trillion in assets under management and $44 . Boca Raton, FL 33431, United States, Wealth Management Office 4901 Tamiami Trail North Wellesley, MA 02481, United States Are they still mortgage loans? (Subcribe to view) Trust Co. v Idarecis, 133 AD3d 702, 703 [2015]; Wells Fargo Bank, N.A. Are cryptocurrency payments more than a passing fad? Tyre Nichols wasnt killed because police werent trained enough. Are cryptocurrency payments more than a passing fad? Suite 1400 v Collymore, 68 AD3d at 754; see 5/27/2022: NOTICE OF SERVING FINAL JUDGMENT OF FORECLOSURE: 5/26/2022: FINAL JUDGMENT OF FORECLOSURE; SIGNED 5.26.22, 5/26/2022: COURT MINUTES -05.26.20 22 AT 9:00 AM ON MOTION FOR SUMMARY FINAL JUDGMENT OF FORECLOSURE AND FOR AWARD OF ATTORNEYS FEES AND COSTS. One Lake Pointe Plaza 311 South Wacker Drive, 62nd Floor 2023 THE BANK OF NEW YORK MELLON CORPORATION, Governments, Sovereigns & Not-For-Profits. establishing fraud, misrepresentation, or other misconduct on the part of the plaintiff that would We noticed that you're using an AdBlocker. The defendant appeals from the order and judgment of foreclosure and sale entered The fact that is that anyone who has paid value for the debt is getting paid pursuant to a third party agreement that has very little relationship with the performance or non performance of the borrower.