SPML/LMC anyone claimed for mis selling and unfair charges?

[mrsiphone]

Please explain yourself

[Crapstone]

Please explain yourself

 

Take it with a pinch of salt. A lot of the posts here are misleading and unless you are caught up in taking some real action against the companies mentioned then you wouldn't know.

 

Don't let it put the genuine posters off.

 

IMHO some of the posts here that are repeated rubbish should be removed. They aren't helping however much they claim to be blowing their own trumpets. It's giving false hope instead of having peeps address this using a bit of common sense when it comes to their mortgages and arrears/charges.

Edited February 3, 2010 by Crapstone

[ryde]

Take it with a pinch of salt. A lot of the posts here are misleading and unless you are caught up in taking some real action against the companies mentioned then you wouldn't know.

 

Don't let it put the genuine posters off.

 

The voice of reason,but it is a joke gone badly wrong when so many are pinning their hopes on the reality of this happening ,if it had been thought out and presented better and if it wasn't for quick and clever detection where would that have left people stuck with this lot ? Love a bit of silliness but this ones too near the bone and in bad taste theres enough ifs and buts without this,we need real hard facts and evidence.

Edited February 3, 2010 by ryde

[mrsiphone]

That is why I was so mad last night. What if someone saw that and on the basis of that newspaper posting stopped making their payments.

 

Someone could have lost their home.

 

I am due to have an examination in March that will decide if I can continue to work. If I can't then I will have to deal with SPML.

 

I am sorry for my frustration, my home is important to me I don't want to lose it.

[enoughisenough]

Just to say all

 

 

I haven't been receiving notifications and had just assumed the thread had gone quiet.

 

I have to say it pays to be ultra sceptical in these perilous times. It's slowed me down a lot because I've been doing a lot more thinking and lot less doing.

 

Also I haven't been receiving notifications of PMs. And I notice there are some in there which I will look at now. Apologies to anyone who thought I'd gone AWOL. I am very busy with a number of things but want to be sure a) I've got them right b) I am not making things worse for myself or anyone else.

 

Believe me when I say I'm as frustrated as anyone else, but it does no good clutching at illusory straws. In the meantime if things are desperate follow Crapstone's excellent lead. Follow the vet with the plan. Complain, then when you don't get satisfaction, follow it through with the FOS.And if you haven't done it don't whine about how useless the FOS are. That's just rank hypocrisy.

 

I'm happy to carry the phone numbers on my sig and will do so shortly. I DO NOT KNOW HOW TO MAKE THE SIG APPEAR EVERY TIME. However it does so happen that the sig more often than not appears when ever you use emphasis and quote others. That's what I noticed anyway.

[martdj]

I am confused! I rang capstone today to ask for the names of the directors of SPML. I spoke to Yvette Bottomley who informed me that SPML no longer exist as they were bought out by Resetfan Ltd. I said why are they still called Southern Pacific Mortgages Ltd (SPML) as if they are limited they must have directors. She said that as far as she was aware they are not limited, and are only a name. She then transferred me to her manager Robert Web but he was not available and I was then put onto a Chris Lamb. He asked for my account number but I said i am not required to give that for details that are a matter of public record! he then told me that the directors of Capstone and SPML are Amany ATTIA, Stephen STAID and Paul CHAMBERS. I am now confused as to who is wahat as i thought CHAMBERS and STAID had resigned. It would appear that even the senior staff at Capstone dont know what is going on

[I'm the bad guy?]

..a poor joke by ZillaK.. as for mzfone, i'dont need to explain myself to anybody..least of all vodafone(32p).

 

 

 

 

 

 

 

 

 

ITBG?

Edited February 3, 2010 by I'm the bad guy?

[littledotty27]

I am confused! I rang capstone today to ask for the names of the directors of SPML. I spoke to Yvette Bottomley who informed me that SPML no longer exist as they were bought out by Resetfan Ltd. I said why are they still called Southern Pacific Mortgages Ltd (SPML) as if they are limited they must have directors. She said that as far as she was aware they are not limited, and are only a name. She then transferred me to her manager Robert Web but he was not available and I was then put onto a Chris Lamb. He asked for my account number but I said i am not required to give that for details that are a matter of public record! he then told me that the directors of Capstone and SPML are Amany ATTIA, Stephen STAID and Paul CHAMBERS. I am now confused as to who is wahat as i thought CHAMBERS and STAID had resigned. It would appear that even the senior staff at Capstone dont know what is going on

Martdj

 

Attia is being prosecuted for late accounts,Chambers & Staid resigned last year,you can find it on Companies house website.

Your quite right they don't have a clue about anything going on,I think most of it is made up.

 

There is also this that I|found

 

http://www.willaw.com/lehman/lehmandocs/LehmanSubsidiaryChartOctober142008.pdf

Edited February 3, 2010 by littledotty27

[enoughisenough]

Hello all.

 

I've come across this and was not sure whether it had been posted before. The real interesting stuff is at the bottom.

 

Southern Pacific Securities05-3 PLC - Notice to Noteholders | RNS News Item | Hemscott.com

 

Keep the faith. EiE.

[ryde]

EIE

Think it has this is a eurosail one

 

We refer to:

(a) the Mortgage Administration Agreement (the "Mortgage Administration Agreement") dated 16 August 2007 between, among others, Capstone Mortgage Services Limited (the "Mortgage Administrator"), BNY Corporate Trustee Services Limited (the "Trustee") and the Issuer; and

(b) the Bank Agreement (the "Bank Agreement") dated 16 August 2007 between, among others, Capstone Mortgage Services Limited (the "Cash/Bond Administrator"), the Trustee and the Issuer.

Southern Pacific Personal Loans Limited ("SPPL") is an originator and current holder of the legal title to the Mortgages. The Eurosail-UK 2007-4BL SPPL Trust Collection Account (the "Collection Account") held by Barclays into which repayment amounts are paid by Borrowers is also in the name of SPPL.

The Issuer has been informed that SPPL has no directors and may be made insolvent imminently. In any case, the Issuer notes that a lack of directors may be considered evidence of the imminent insolvency of SPPL.

The imminent insolvency of SPPL will have various implications, such implications including but not limited to, issues relating to the holding of title to the Mortgages relating to each Loan comprised in the Mortgage Pool and the Collection Account.

 

 

Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in the Mortgage Administration Agreement and the Bank Agreement.

 

 

Clause 16.1(b) of the Mortgage Administration Agreement provides that the Mortgage Administrator shall, if requested by the Issuer (with the consent of the Trustee) or the Trustee, deliver to the Issuer (with the consent of the Trustee) or the Trustee, as the case may require, all Property Deeds and up-to-date schedules for attachment to the Transfers and give formal notice of a legal assignment as the case may require of each Mortgage relating to each Loan comprised in the Mortgage Pool and of such charge and guarantee to the relevant Borrowers, insurers and other persons all in such form or forms as may be required by the Issuer (with the consent of the Trustee) or the Trustee (the "Mortgage Administrator Actions") if the Trustee considers that the Charged Property or any part of it is in jeopardy (including due to the possible insolvency of a Seller or SPPL) where legal title to any Mortgage is vested in SPPL or the relevant Seller, as the case may be.

 

This is an extract from one of the eurosail notices posted on 15/12/09

the easy way to search for any notices is direct from this link at the irish stock exchange just type in eurosail in the search box,there are a few for 02/02 but of no significance.

Irish Stock Exchange

If you bookmark it you get easy quick access.

 

Re other issues.

1) As posted in the spml accounts Resetfan(accounts overdue!) are the immediate parent company of spml so they can't I don't think actually buy them out when they already own them.

2) preferred are owned by preferred group limited.

3)sppl/lmc/matlock by spml then by Resetfan although as L.C. states correctly LMC appear to have lost the ltd somewhere.

4)There is no mention of nomura in any of the accounts

Hopefully we may have some eurosail accounts soon.

 

Notice from the above in bold the spv has the power to instruct the administrator capstone to transfer to it the legal title which it controls through its own powers and discretion .The legal title from the outset of the sale of the mortgage to the spv is never at any time again under the control of the originator,real evidence of a true sale?How can you own something you cannot control and are instructed on how to exercise your "ownership" by the spv? This strikes at the very meaning of the word ownership.An arguable case?

Bold underlined:the non notification to the borrower is the only thing in law that prevents the legal title being vested in the spv which they by their own choice choose to do for the reasons previously given.

Edited February 3, 2010 by ryde

[midge61]

Have sent you a pm with an idea eie.

[I'm the bad guy?]

..anybody with LMC(London Mortgage Company Ltd) or Southern Pacific Personal Loans Ltd(SPPL), I would strongly suggest you call Mr Dominic Roberts(technical offences) at CH...he will have the answers you need on how to action a strike off(no directors).

 

 

 

 

 

..bring the pain.

 

 

 

 

 

 

 

 

ITBG?

end game.

[I'm the bad guy?]

EiE,

 

this ones for you, call Jeremy Pilcher at CIB, he can answer all your questions on how LMC/SPPL have NO authority to repossess as there are NO directors/officers in the JAWs. Interestingly, he works on consumer issues from the public and is a lawyer..right up your street cuz?

 

 

 

 

..bring the pain.

 

 

 

 

 

 

 

 

 

 

ITBG?

end game.

[ZillaK]

Hi everyone,

 

I'd just like to apologise for my previous post. Obviously it was not my intention to raise hopes and dash them in such a fashion & I thought it would be quite clear to all involved that I was posting up something we all want to see for real in the very near future.

 

Sorry..

 

Zil..

[enoughisenough]

Would Jeremy Pilcher get a press release going? Surely CH cannot stand idly by if the possession actions by these entities are unlawful?

 

Or could CH at least put the Civil Justice Council in the picture so the courts can be put on notice?

 

Seems a perfectly reasonable request to me. And if not, why not?

[I'm the bad guy?]

..best speak to him, so your answer is at first hand.

 

 

 

 

 

 

 

 

 

 

ITBG?

[ryde]

Hi everyone,

 

I'd just like to apologise for my previous post. Obviously it was not my intention to raise hopes and dash them in such a fashion & I thought it would be quite clear to all involved that I was posting up something we all want to see for real in the very near future.

 

Sorry..

 

Zil..

 

Don't worry about it ,its over now,breakdown in coms.

 

But remember this , whatever you do don't mention the war, me and L.C. mentioned it a few times and thought we'd got away with it................

[ZillaK]

whatever you do don't mention the war

 

..erm.. 'Nam?

[ryde]

WAr's Comin'

 

copyright Lord Cagger...

 

see eie started it (wait for the punchline)

[I'm the bad guy?]

..kill'em all

let Super

sort'em out..

 

 

 

 

 

..SupersSpecialForces.

 

 

 

 

 

 

 

ITGG!

SSF

[ryde]

punchline,

can't wait.

 

QUOTE EIE,.. NO I DIDN'T!

 

ALL REPLY ,yes you did.

 

You let the scraggenders con you into a loan.

 

(didn't we all)(think I'm wasted........here)

Edited February 3, 2010 by ryde

[brassed-off-2]

just stumbled upon this...if it is of use to anyone!!Eurosail-UK 2007-5NP Plc - Notice of Results and Seperate Adjourned Meetings | RNS News Item | Hemscott.com

[midge61]

inquorate

 

 

 

 

 

 

in·quo·rate [ in kwáw ràyt ]

 

adjective

Definition: U.K. unable to decide officially: having too few people present to provide a quorum and therefore unable to make an official decision

The meeting was declared inquorate.

 

[Late 20th century.

Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.

[I'm the bad guy?]

Ryde,

 

this is for you, do you think with all the SPPL notices of insolvency, and the 'winding down' of the JAWs from the recently posted accounts; the 'Perfection Event' has caused the 'Perfection Act', whereby the TRUSTEE is now holding all the mortgage deeds & collateral assets as security for the investors?

 

This is copied from one of your recent posts:

Neither the Issuer nor the Trustee currently intend to effect any registration at the Land Registry of England and Wales, the Registers of Northern Ireland or any registration or recording in the Registers of Scotland to perfect the sale of the Loans and the Collateral Security to the Issuer or the charge of them by the Issuer in favour of the

Trustee nor, save as mentioned below, do they intend to obtain possession of the title deeds to the Properties andthe Loans and their related Collateral Security.

Save as mentioned below, notice of the assignment to the Issuer of the Loans and Collateral Security and their subsequent charging or assigning to the Trustee will not be given to the Borrowers.

Under the Mortgage Sale Agreement and the Deed of Charge, each of the Issuer (with the consent of the Trustee) and the Trustee will be entitled to effect such registrations and recordings and give such notices as it, acting in its absolute discretion, considers necessary to protect and perfect the interests respectively of the Issuer(as purchaser) and the Trustee (as chargee) in the Loans and the Collateral Security, inter alia, where (a) it is obliged to do so by law, by court order or by a mandatory requirement of any regulatory authority, (b) an Enforcement Notice (as defined in Condition 9(a) (Events of Default)) has been given, © the Trustee considers that the Charged Property (as defined in the Deed of Charge) or any part thereof is in jeopardy (including due to the possible insolvency of any of SPML or SPPL or PML in each case as legal titleholder of the relevant Loans) or (d) any action is taken for the winding-up, dissolution, administration or reorganisation of SPML or SPPL orPML. These rights are supported by irrevocable powers of attorney given by, among others, the Issuer, SPML,SPPL and PML.

 

 

So if the SPVs ever had the so called 'equitable title' to the mortgages(disagree OP), they absolutely donot hold them now, because of the insolvency and winding up of JAWs. The TRUSTEE now holds the mortgages as security(always did OP), on behalf of the investors, so neither the JAWs or the SPVs now own your mortgages.

 

 

..are we there yet?

 

 

 

 

 

ITBG?

end game.

Edited February 3, 2010 by I'm the bad guy?

[I'm the bad guy?]

..midge61#3

 

 

 

 

good to see many rookies on LDs' thread now.

 

..bring the pain.

 

 

 

 

 

 

 

 

ITBG?

end game.