AmicusCuriae

FriendoftheCourt

AdditionalWritings:http://www.scribd.com/alviec CopyrightJamesMcGuire

j.mcguire@swbell.net8174204151 HedgerowConsultingServicesMemphis,Tennessee RevisedSeptember29,2011

TableofContents
1.TheCreationoftheMortgageNoteandSecurityInstrument UniformCommercialCodeandRecordationRequirements 2.TangiblePersonalPropertyversusRealProperty FailuretoMaintainContinuousPerfection 3.OriginalObligee(Lender)TakesPossessionoftheSecuredMortgageNote ProperParties 4.OriginalObligee(Lender)SellsTheSecuredMortgageNote ObligeeIndorsesMortgageNotetoInBlankIndorsee 5.OriginalObligee(Lender)SellsanUnsecuredMortgageNote(MERSasNominee) MERSHidestheFraud 6.CONFUSION HidingtheFraud 7.WhytheInvestorDoesNotOwntheMortgageNoteandSecurityInstrument TheMortgageNoteDoesNotIdentifytheSubsequent Owner&HolderoftheMortgageNoteortheSecurityInstrument 8.TheFirstNegotiationinBlank OrHowNotTo 9.WHYTHECHAINSDONOTMATCH MERS
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10.TheSecondNegotiationinBlankUnidentifiedIndorseeInBlankIndorsesIn Blank StillUsingtheFirstInBlankIndorsementFailuretoNegotiate 11.MERSandTransferableRecords 15USC7003,ExcludesNegotiableInstrumentsWhenUCCGoverns 12.TheThirdandFourthNegotiationinBlank SubsequentNegotiationbyanUnidentifiedSubsequentIndorseeInBlanktoadditional SubsequentPurchasersInBlank 13.Holder,Owner,andHolderinDueCourse,InnocentPurchaser (A)OnecanbetheholderoftheMortgageNoteandnotbetheownerorhaverightsas holderinduecourse. (B)Onecanbetheownerofthenoteandnotbetheholderorhaverightsasholderin duecourse. (C)HolderinDueCourse (D)InnocentPurchaser

14.Modifications&Lawsuit 15.ClosingStatement

1.TheCreationoftheMortgageNoteandSecurityInstrument
UniformCommercialCodeandstaterecordationrequirements TheHomeowner(Obligor)signsaMortgageNoteandaSecurityInstrument.Upon

signing of the Security Instrument and by operation of law, the Security Instrument is automaticallyattachedtotheMortgageNoteandtemporaryperfectionisestablished.The SecurityInstrumentwhenfiledinpublicrecordstransformsatemporaryperfectionintoa permanentperfectionandisnoticetotheworld.RegardlessofwhethertheMortgageNote is sold to a subsequent purchaser, recordation of the Security Instrument is required to permanentlyperfectthelien.TheSecurityInstrumentaffectstitletoRealProperty,andas such,thelawsoflocaljurisdictiongovernandsuchrequirementtocomplywithlocallaws ofjurisdictioniscontainedwithintheSecurityInstrumentitself.Thefilingofrecordserves a second and distinctive purpose: it creates the priority of perfection among subsequent purchasers of the Mortgage Note and is not addressed further in this document. Upon attachmentandperfectionoftheSecurityInstrumenttotheMortgageNote,theMortgage NotebecomesanindebtednessthatisSecured.

2.TangiblePersonalPropertyversusRealProperty
FailuretoMaintainContinuousPerfection The Mortgage Note and the Security Instrument are Tangibles and Personal

Property and we shall consider the two items in tandem to be called the Mortgage and such Mortgage is Tangible and Personal Property. One must not forget the terms contained within the Security Instrument affect an interest in Real Property and these
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termsrequirecompliancewithallapplicable,federal,stateandlocallawsandthelanguage containedwithintheSecurityInstrumentitself.Failuretocomplywiththelawsgoverning thecontentsoftheSecurityInstrumentorlanguagewithintheSecurityInstrumentwould render the Security Instrument a nullity. If such Security Instrument becomes a nullity, then the classification of the Mortgage Note is reduced in status from Secured to Unsecured and as a result of the Security Instrument becoming a nullity the Power of SaleClausecontainedwithintheSecurityInstrumentwouldalsobenullity. TheMortgagebeingaPaymentIntangiblecanbenegotiatedbypossessionandthe

securityforthisPaymentIntangibleistherighttocollectmoniesfromthe(MortgageNote secured by the Security Instrument as collateral). Thus, the (Mortgage Note and Security Instrumentascollateral)issecurityforthePaymentIntangibleanditisthissecuritythat follows the Mortgage (Payment Intangible) where the Mortgage is the owner of the Mortgage Note and what should be a valid perfected Security Instrument. Again, the MortgageisnothingmorethanaPaymentIntangible(PersonalProperty)andthesecurity forthisPaymentIntangibleistherighttocollectmoniesnotedinthePaymentIntangibles security, the Mortgage Note. The Payment Intangibles security also consists of a valid perfectedSecurityInstrumentalongwithanyvalidAssignmentofMortgagefiledofrecord totransferlienrightsinaccordancewithlawsthatgoverntheSecurityInstrument. Regardless of the hierarchy of ownership of the Payment Intangible, Mortgage,

MortgageNoteorSecurityInstrument,thetermscontainedwithintheSecurityInstrument mustbecompliedwith,andthisauthorhasnotseenaSecurity Instrumentthatdoesnot itselfrequirecompliancewithfederal,stateorlocallaws.Failuretocomplywiththelawsof local jurisdiction that govern the terms within the Security Instrument would render the
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SecurityInstrumentanullityandtheMortgageNotewouldthenbereducedtoUnsecured andtheMortgage(PaymentIntangible)wouldthenbeleftwithoutavalidperfectedliento allow foreclosure of the Real Property. Additionally, if the Security Instrument was rendered a nullity by failure to comply with the laws or the terms contained within the Security Instrument, the secondary market has not purchased a Secured indebtedness and any claim made by a subsequent purchaser including Trusts are without rights to enforcethePowerofSaleClauseandnoforeclosureispossible.Thisfailuretoprovidea completeMortgagetothesecondarymarketistherealfraudthatthefinancialinstitutions aretryingtoconceal. EvenwithanullifiedSecurityInstrument,ifavalidMortgageNotewithacomplete

Chain of Indorsement is proved, the Holder/Owner with right as Holder in Due Course couldsueforequityinacourtofjurisdiction. So when it is said the Mortgage follows the Note, one must remember that the

SecurityforthePaymentIntangiblefollowsthePaymentIntangiblewithoutfilingofrecord, and therefore, the underlying Mortgage Note would be followed by a valid continuous perfected Security Instrument if there were compliance with applicable laws to maintain perfectionoftheSecurityInstrument.

3.OriginalObligee(Lender)TakesPossessionoftheSecuredMortgage Note
ProperParties

Original Obligee takes possession of the Mortgage Note and permanently perfects

theSecurityInstrumentbyfilingofrecordintheOriginalObligeesname.Failuretoname thecorrectpartiescouldpossiblybeafataltotheenforcementofthetermsintheMortgage NoteorSecurityInstrument.

4.OriginalObligee(Lender)SellsTheSecuredMortgageNote
ObligeeIndorsesMortgageNotetoInBlankIndorsee The Original Obligee sells the Mortgage to a subsequent purchaser. Proper

procedure is to negotiate the Mortgage Note under cover of a Bailees Letter to the subsequent purchaser and then transfer the rights to the Security Instrumentby filingof record the name of the subsequent purchaser who purchased the Mortgage Note and completingtheMortgageNotenegotiationbynotingtheownernameintheblank. Original Obligee indorses the Mortgage Note and delivers the same to the

subsequentpurchaser(SecondObligee).SecondObligeethencompletesthenegotiationby fillingintheblank,ifnegotiatedinblank,thenfilesofrecordanassignmentofthemortgage totransferandperfecttheSecurityInstrumentslienintotheSecondObligeesname.Ifthe SecondObligeefailstocompletethenegotiationbynotingownershipintheblank,then the Second Obligee may have become the possessor of the note but has not become the holder of the note and has not achieved holder in due course with rights to enforce the MortgageNotestermsorthetermswithintheSecurityInstrument.Additionally,failureto fileofrecordtheAssignmentoftheSecurityInstrumentfailstotransferlienrightsandthis failuretotransferlienrightshasrenderedaoncesecuredMortgageNotetoUnsecured.

5.OriginalObligee(Lender)SellsanUnsecuredMortgageNote (MERSasNominee)
MERSHidestheFraud Where MERS is filed of record as the Mortgagee as Nominee for a lender and

lenders assigns, and where the first negotiation of the Mortgage Note is executed In Blank, one has to inquire how MERS would represent an unidentified Indorsee. In most casesthisunidentifiedIndorseeceasestoexistafterthecreationofthesecuritytrustand may not have existed upon the closing of the loan. This unidentified Indorsee and subsequentunidentifiedIndorseeswouldconstituteabreakintheChains.Therearetwo distinctChains.OnechainisthatofindorsementsnotedonthefaceoftheMortgageNote and the publicly recorded chain of title that transfers lien perfection. This Paper will not dwellintotothedetailsoftheChains.AsMERSclaimstobetheMortgageeofrecordfor lender and lenders assigns and as the Mortgage Note is negotiated in blank through a number of unidentified endorsees, it is clearly observable from the facts that continuous perfection of the Security Instrument has not been in compliance with the laws of local jurisdiction which govern the Security Instrument. The chain of indorsements use of In Blank is also fatal as an IN BLANK unidentified party cannot negotiate the Mortgage Note.

6.CONFUSION
HidingtheFraud

Wall Street is buying a Payment Intangible (Personal Property) and as such is the

owner and holder of that Payment Intangible and the laws that govern the Payment Intangible allow for negotiation by possession. The Payment Intangibles security is the Mortgages (Personal Property) contained within the collateral pool. Remember, the Mortgage actually consists of two parts, the Mortgage Note and a lawfully continuously perfectedSecurityInstrument.Soitisnowsafetosaythesecurityfollowsthenote,yep,but the security that follows the note may in fact be a nullity by the hierarchy ownerships failuretocomplywithlawsthatgoverntheSecurityInstrument.Bottomline,theMortgage Notemaybeprovedupwithaproperchainofindorsementsyearsafterthetrustcreation butlossofperfectioncanneverbeproveduponcelostandthereforeWallStreetmayhave onlyboughtanunsecuredMortgageNote.TheauthorwillnotcommentonREMICIRStax issues. To further complicate the issue, multiple purchases by Wall Street may have not been that of the Mortgage Notes but that of a Transferable Record which is registered withintheMERSsystem.

7.WhytheInvestor DoesNotOwntheMortgageNoteandSecurityInstrument
TheMortgageNoteDoesNotIdentifytheSubsequent Owner&HolderoftheMortgageNoteortheSecurityInstrument Asstated,theMortgageNoteandtheSecurityInstrumentisPersonalPropertyand

iscommonlycalledtheMortgage.ThisMortgagewhichispersonalpropertyisofferedup ascollateraltothePaymentIntangibleintheformationoftheTrust.Toexplain,wemust present the Trust in reverse order. Investors purchase a beneficial interest in Trust
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Certificates.TheTrustownstherighttothemoniescollectedfromthePaymentIntangible. ThePaymentIntangibleownstherighttocollectmoniesowedundertheMortgageNote(s). The Certificates and Payment Intangibles are personal property; the local laws of jurisdiction that affect real estate do not apply in a direct manner. The Trust documents provide a precise mechanism for negotiating the Mortgage Note and Security Instrument intotheMortgage(PaymentTangible)Pool.Themajorityofnotesthisauthorhasreviewed reflect a single indorsement in blank from the Original Obligee, which raises severe concerns that a chain of indorsements is missing from the Mortgage Note to show a completechainofnegotiationthatisrequiredbylawtobewithinpublicrecordstoshowa true Chain of Title. The Chain of Title, an Assignment of Mortgage (The Security Instrument)) that is properly filed of record would be notice of a perfected lien and the priority of those subsequent purchasers of the Mortgage Note. Filing for transferring perfectionofthelien(SecurityInstrument)andfilingfornoticeofprioritytosubsequent purchasersoftheMortgageNotetoestablishwhohasprioritylienrightsisnotoneinthe same. Failure to properly negotiate does not transfer Holder in Due Course (ownership/status/rank/qualification/legal status etc., according to the UCC governing law)toasubsequentpartynotnamedontheMortgageNote.

8.TheFirstNegotiationinBlank
OrHowNotTo Where the Mortgage Note was being used as collateral in a Mortgage Backed

Security(MBS),andanunknownIndorseeinBlankwouldneedtobethefirstentityinthe MBS creation, thus the In Blank should contain the identity of that party to allow
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additional negotiation of the Mortgage Note to further the creation of the Trust. Additionally, we must question the means and the methods employed by MERS to be a Mortgagee of record as Nominee for an unidentified In Blank or any type of agency relationship to an unidentifiable In Blank. Currently, one example, the only means offered to identify an unidentified In Blank is contained within a Pooling and Servicing Agreement(PSA).ThePSAidentifiesallthepartiesthatwouldneedtoappearinthechain ofindorsementsandchainoftitle,thisrequiredchainofindorsementisnotwhatisusually foundonthefaceoftheMortgageNote.TheMortgageNotebeingnegotiatedbyasingleIn BlankthroughmultipleunidentifiedindorseesisnotincompliancewiththePSA,theUCC or the states equivalence of the UCC, and the failure to file of record the named party Indorsee,InBlankpartyalsocreatesabreakinthechainoftitleinpublicrecords.The frogsbottom:thepartiesthatcanbeidentifiedonthefaceoftheMortgageNote,chainof indorsements,doesnotmatchthechainoftitlefiledofrecord.Rivet,Rivet,addanallonge andaffixit.

9.WHYTHECHAINSDONOTMATCH
MERS How would one record of record an unidentified Indorsee In Blank? The

unidentified Indorsee In Blank is not a real person, not a company; in fact, the unidentifiedIndorseeInBlankisanonexistentparty,orisit?Astheauthorhasnoted, the evidence offered to identify the Indorsee In Blank appears in third party contracts usedinthecreationoftheinvestmentvehicleandthisunidentifiedInBlankIndorseeby admissionofMERScanbelocatedwithintheMERSsystemandwouldappearinaMERS
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AuditTrail.Asitcanbeseen,MERScantrackanunidentifiedIndorseeInBlank;butcan an unidentified Indorsee In Blank be named as a party and filed of record? This is one reason the Chain of Indorsements on the face of the Mortgage Note does not match the Chain of Title filed in public records which filing of record would note the legal party entitledtoacontinuousperfectedlien.TheSecurityInstrumentfiledofrecordconvertsa temporary perfection and attachment into a permanent perfected lien, while the filing of record of an unidentified Indorsee In Blank transfers nothing. In the authors opinion, MERSalludesthattheyaretheMortgageeofRecordasameanstoavoidtheproblemswith filingofrecordanunidentifiedIndorseeInBlank.Theprocessofindorsinginblankraises oneseriousquestion,howdoesanunidentifiedIndorseeInBlankindorseanoteinblank toasubsequentunidentifiedIndorseeInBlankandcomplywithlocallawsofjurisdiction governingtheSecurityInstrumentthatwastosecuretheMortgageNote? Failure to

follow the terms within the Security Instrument would breach the Security Instrument contract and render the Mortgage Note unsecured. Not only was the Mortgage Note not properly negotiated to the Wall Street trusts through multiple unidentified In Blank Indorsees,buttherewasalsoafailuretotransferaperfectedlientotheWallStreettrust. Note: these conditions also apply to Fannie Mae, Freddie Mac and certain private investmentsandalsoaffectCommercialMortgageBackedSecurities.

10.TheSecondNegotiationinBlank UnidentifiedIndorseeInBlankIndorsesInBlank
StillUsingtheFirstInBlankIndorsementFailuretoNegotiate

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ThesecondnegotiationintheMortgageNotenegotiationwouldbefromthecreator

ofthetrusttothedepositorofthetrust,butinactualitytheFirstIndorsementinBlankis utilizedforthisnegotiation.Again,thereisanunknownpartyallegingtobetheHolderand Owner of the Mortgage Note by a negotiation In Blank. This negotiation is usually indorsedInBlankutilizingtheInBlankfromtheOriginalIndorserandnorecordisfiled ofrecordtotransferlienrightstothesecondInBlankIndorsee.

11.MERSandTransferableRecords
15USC7003,ExcludesNegotiableInstrumentsWhenUCCGoverns For a moment we have to step back to the Original Obligee to understand the

movementoftheMortgageNote.Thisauthorhasnotedsomecommentatorsareadamant thattheMortgageNotesarenotdestroyedatanystepintheprocessandweshallfollow that reasoning for the moment. In concession of conversation it is somewhat agreed that theMortgageNotesareplacedwithincustodyofaDocumentCustodian.Withthatsaid,we have to address many court filings of copies of the Mortgage Notes submitted by the financialinstitutionswheretheoriginalscannotbefoundanditiscommontoonlyseean Indorsement in Blank from the Original Obligee. One has to ask why and how this possiblyoccurred.Simply,iftheOriginalObligeeplacedtheMortgageLoanpackagewithin thecustodyofacustodianandtheMERSsystemtrackedaTransferableRecordalleging tobethelawfulnegotiationoftheMortgageNoteandifaneedwasrequiredforproof,the currententityclaimingrightswouldretrievewhateverdocumentsresidedwiththeoriginal custodian.

12.TheThirdandFourthNegotiationinBlank
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SubsequentNegotiationbyanUnidentifiedSubsequentIndorseeInBlanktoadditional SubsequentPurchasersInBlank ThethirdstepintheMortgageNotenegotiationwouldbefromthedepositorofthe

trusttotheTrusteeoftheTrust,butagain,inactualitytheFirstIndorsementinBlankis utilizedforthisnegotiation.Again,thereisanunknownpartyallegingtobetheHolderand OwneroftheMortgageNotebyanegotiationInBlank. ThefourthstepintheMortgageNotenegotiationwouldbefromthetrusteeofthe

trusttotheTrust,butagain,inactualitytheFirstIndorsementinBlankisutilizedforthis negotiation.Again,thereisanunknownpartyallegingtobetheHolderandOwnerofthe MortgageNotebyanegotiationInBlank.

13.Holder,OwnerandHolderinDueCourse,InnocentPurchaser
(A)OnecanbetheholderoftheMortgageNote andnotbetheownerorhaverightsasholderinduecourse. Servicers and trustees possibly could become the possessor of the note and claim

theyrepresenttheownerandtheholderinduecourse,however,ifpropernegotiationof theMortgageNotewasnotfollowedasrequired,thetruststhatthesetrusteesrepresentdo not hold sufficient legal rights to enforce the terms in the Mortgage Notes, much less enforcethetermsinanullifiedSecurityInstruments. (B)Onecanbetheownerofthenote andnotbetheholderorhaverightsasholderinduecourse.

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ThetrustmayclaimtoowntheMortgageNotebutthiswouldbeamisconception.

ThetrustwhereMERSisinvolvedownstherightstoaTransferableRecordwherethat recordreflectswhohascontroloveracustodianthatholdstheMortgageNote,ifandwhen avaultedcopydoesexist,andcontroloverMERSasasocalledmortgageeofrecord. (C)HolderinDueCourse HolderinDuecoursewherepropernegotiationwasnotfollowedwouldstillreside

with the Original Obligee, but issues still exist as to a continuous perfected Security Instrument. Under the Uniform Commercial Code a subsequent purchaser could not achieve

HolderInDueCoursewherefraudwascommittedbyoneoftheUnidentifiedInBlank IndorseesasitaffectedtheMortgageNote. (D)InnocentPurchaser As to an innocent purchaser, a party to the creation of the trust where MERS is

involved and named in the PSA or other documents of incorporation has actual notice of MERSsinvolvementandthereforecannotclaimtobeaninnocentpurchaser.

14.Modifications&Lawsuits
Considering all the points noted in items 1 through 13 the following question

presentsitself:

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1.

How can a holder of an electronic copy of note or a note that lacks indorsement, who is without rights to enforce the note grant a modification to something they do not legally own?

2.

How can a holder of an electronic copy of note or a note that lacks indorsement, who is without rights to enforce the note and standing invoke a courts jurisdiction? Where state recordation laws have not been complied with resulting in loss of perfection

presents these intelligent factors:

1. Failure to take legal actions to continuously perfect the Security securing a Note would result in the Secured Party losing the status as Secured Party rendering the Secured Indebtedness to Unsecured; therefore the Secured Party is no longer a Secured Party and as such, the holder of the indebtedness lacks rights to enforce any term contained within the now null Security.

2. As the Note has been rendered Unsecured, the holder of the indebtedness is without rights to enforce terms noted within the security and lacks standing to invoke a courts jurisdiction for any action raised dependent upon the security.

15.ClosingStatement
One hastoconsider underTitle15 USC,77nnn, thefiling of compliance reports is

notincompliancebasedontheproceduralactionsthatwereimplementedinthecreation of secondary market trusts by the financial institutions. Fannie Maes and Freddie Macs

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roleincreatingsecuritizedtrustsasadditionalfraudcreationpracticesarenotaddressed inthiswriting. Withallthefailureofcompliancewithlawinthecreationofthesecondarymarket

trusts, this writer is alarmed that the RoboSigning and RoboVerification will only servethefinancialinstitutionswithadiversionarymethodtoconcealagreaterfraud.The Roboactionsandaccountingforallpreviousfailuretocomplywithlawsofgovernance show proof the financial institution will commit any number of frauds to protect their FridayPaycheckandCrystalTowerBonuses. Itmaybe,justmaybepossibletoproveuptheMortgageNotebutyoucanNEVER prove up alost Perfection of Lien. Regardless of the numberof Affidavitsfiled with the courts and regardless of the number of Assignment of Mortgages filed of record, none of theseactionswillperfectalienonceperfectionhasbeenlost. Proper procedure fordefault recovery of an unsecured notesuit for monies: but you cannot foreclose. THEY ARE SUING UNDER A CAUSE OF ACTION THAT IS NOT AVAILABLE,iffilingforforeclosure.Nobodywillhavegottenanythingforfree,thehomeis withoutaliensecuredtotheMortgageNoteandthebankcanstillsueunderthedefaulton theMortgageNoteifsuchnotehasnotbeendischargedbywillfulintentionalactasnoted intheUCC. Over2000yearsago,Jesusbeganthisfightwiththemoneychangersandtoday,God hassetforththestampedeofPalehorsestofightthisevilandtheridersnamesareThe People.

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This country is the greatest country on the planet and has laws of justice unparalleled by any other country; the financial institutions have made a mockery of Americas judicial system by use of slickery trickery wording, lies, fraud and deceit and manipulation of lawmakers to create laws to help conceal the fraud. Sufficient laws do existandtheyarejustlaws,butjustnotfollowedbythefinancialinstitutions. Finalwords:theRoboactionsarejustthetipoftheicebergbuttheRoboactions

allowed part of the iceberg to be seen. When one looks at the failure to follow laws governing the secured indebtedness; one also needs to consider in tandem, laws that governperfectionandcontinuousperfectionoftheSecurity. This paper will not address the relationship of (X) value of tangible real property andthe(X*Y)valueoftheintangibleCreditDefaultMarket.TheCreditDefaultMarketisa monstrousnightmarefraudmachineinitself.

Recommended Reading
http://www.huffingtonpost.com/l-randall-wray/why-mortgagebacked-securi_b_802600.html

Why Mortgage-Backed Securities Aren't (Backed by Securities): How MERS Toasted the Banks L. Randall Wray

Professor of Economics and Research Director of the Center for Full Employment and Price Stability, University of MissouriKansas City Posted: December 30, 2010 08:35 AM

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https://www.efanniemae.com/sf/formsdocs/documents/notes/pdf/3530.pdf

INTEREST-ONLY PERIOD ADJUSTABLE RATE NOTE

(One-Year LIBOR Index (As Published In The Wall Street Journal) Rate Caps)
THIS NOTE CONTAINS PROVISIONS ALLOWING FOR A CHANGE IN MY FIXED INTEREST RATE TO AN ADJUSTABLE INTEREST RATE AND FOR CHANGES IN MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY ADJUSTABLE INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY. (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding _______________ percentage points (___________%) to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment.

https://www.efanniemae.com/sf/formsdocs/documents/notes/pdf/3524.pdf

ADJUSTABLE RATE NOTE

(LIBOR One-Month Index (As Published In The Wall Street Journal)Payment and Rate Caps) THIS NOTE CONTAINS PROVISIONS THAT WILL CHANGE THE INTEREST RATE AND THE MONTHLY PAYMENT. THERE MAY BE A LIMIT ON THE AMOUNT THAT THE MONTHLY PAYMENT CAN INCREASE. THE PRINCIPAL AMOUNT TO REPAY COULD BE GREATER THAN THE AMOUNT ORIGINALLY BORROWED, BUT NOT MORE THAN THE LIMIT STATED IN THIS NOTE. (D) Index Beginning with the first Interest Rate Change Date, my interest rate will be based on an Index. The Index is the average of interbank offered rates for one month U.S. dollar-denominated deposits in the London market (LIBOR), as published in The Wall Street Journal. The most recent Index figure available as of the date 15 days before each Interest Rate Change Date is called the Current Index. If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (E) Calculation of Interest Rate Changes Before each Interest Rate Change Date, the Note Holder will calculate my new interest rate by adding ____________ percentage point(s) (___________%) to the Current Index. Subject to the limit stated in Section 2(C) above, the result of this addition will be my new interest rate until the next Interest Rate Change Date.

Legal Documents -- Notes

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Notes Standard and Negotiated Notes

Notes for regularly amortizing mortgages include the Fannie Mae/Freddie Mac Uniform Fixed-Rate Notes and the Fannie Mae/Freddie Mac Uniform Adjustable-Rate Notes and other notes that Fannie Mae has developed for: specific ARM plans (including those for Texas Section 50(a)(6) mortgages), biweekly payment mortgages, growing-equity mortgages. Instruments on this page: Standard Negotiated

This page provides downloadable copies of standard and negotiated instruments, provided in separate tables, including: Fannie Mae/Freddie Mac Uniform Instruments Fannie Mae Uniform Instruments (marked with an *)

Standard Instruments
Summary Standard Fixed-Rate Notes Multistate Fixed-Rate Note Alaska Fixed-Rate Note Florida Fixed-Rate Note Maine Fixed-Rate Note New Hampshire Fixed-Rate Note New York Fixed-Rate Note Vermont Fixed-Rate Note Virginia Fixed-Rate Note West Virginia Fixed-Rate Note Wisconsin Fixed-Rate Note Puerto Rico Fixed-Rate Note Standard Growing Equity Notes * Multistate Growing Equity Note Standard Fixed/Adjustable-Rate Notes * * * * Multistate Fixed/Adjustable-Rate Note - 10 Year Treasury Multistate Fixed/Adjustable-Rate Note - 1 Year Treasury Index Multistate Fixed/Adjustable-Rate Note - 1 Year Treasury Index - Convertible Multistate Fixed/Adjustable-Rate Note - WSJ One-Year LIBOR .doc Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary .doc Summary Summary .doc Summary Summary Summary Summary ------ English -----.pdf 3200 3202 3210 3220 3230 3233 3246 3247 3249 3250 3253 .pdf 3255 .pdf 3263 3522 3523 3525 .doc 3200 3202 3210 3220 3230 3233 3246 3247 3249 3250 3253 Spanish .pdf Spanish .pdf .doc 3255 .doc 3263 3522 3523 3525 3522S Spanish .pdf 3200S 3202S 3210S 3220S 3230S 3233S 3246S 3247S 3249S 3250S

------ English ------

------ English ------

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Multistate Fixed/Adjustable-Rate Note - WSJ One-Year LIBOR Standard Biweekly Notes

Summary Summary .doc Summary Summary Summary

3528

3528 Spanish .pdf 3264S 3265S Spanish .pdf 3501S 3501.02S 3501.10S 3501.30S 3501.46S 3501.47S 3501.49S 3501.50S

------ English -----.pdf 3264 3265 .doc 3264 3265

* *

Multistate Biweekly Fixed-Rate Note - with Conversion Option Multistate Biweekly Fixed-Rate Note - without Conversion Option Standard Adjustable-Rate Notes Multistate Adjustable-Rate Note - ARM 5-1 Alaska Adjustable-Rate Note - ARM 5-1 Florida Adjustable-Rate Note - ARM 5-1 New Hampshire Adjustable-Rate Note - ARM 5-1 Vermont Adjustable-Rate Note - ARM 5-1 Virginia Adjustable-Rate Note - ARM 5-1 West Virginia Adjustable-Rate Note - ARM 5-1 Wisconsin Adjustable-Rate Note - ARM 5-1 Puerto Rico Adjustable-Rate Note - ARM 5-1 Multistate Adjustable-Rate Note - ARM 5-2 Alaska Adjustable-Rate Note - ARM 5-2 Florida Adjustable-Rate Note - ARM 5-2 New Hampshire Adjustable-Rate Note - ARM 5-2 Vermont Adjustable-Rate Note - ARM 5-2 Virginia Adjustable-Rate Note - ARM 5-2 West Virginia Adjustable-Rate Note - ARM 5-2 Wisconsin Adjustable-Rate Note - ARM 5-2 Puerto Rico Adjustable-Rate Note - ARM 5-2 Multistate Adjustable-Rate Note - ARM Plans 721/521 & 652/791 Multistate Adjustable-Rate Note - 3 Year ARM Multistate Adjustable-Rate Note - ARM Plan 650

------ English -----.pdf 3501 3501.02 3501.10 3501.30 3501.46 3501.47 3501.49 3501.50 3501.53 3502 3502.02 3502.10 3502.30 3502.46 3502.47 3502.49 3502.50 3502.53 3503 3504 3505 3508 3510 3511 3512 3515 3516 3520 .doc 3501 3501.02 3501.10 3501.30 3501.46 3501.47 3501.49 3501.50 3501.53 3502 3502.02 3502.10 3502.30 3502.46 3502.47 3502.49 3502.50 3502.53 3503 3504 3505 3508 3510 3511 3512 3515 3516 3520

.doc Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary

3504S

* *

Multistate Convertible Adjustable-Rate Note - 1 Year Summary Treasury Index Multistate Adjustable-Rate Note - COF Index Summary Summary Summary Summary Summary Summary Multistate Convertible Adjustable-Rate Note - Cost of Funds Index Multistate Adjustable-Rate Note - ARM Plans 711/511 Multistate Convertible Adjustable-Rate Note - CD Index Multistate Adjustable-Rate Note - CD Index Multistate Adjustable-Rate Note - LIBOR 6-Month Index as published in The Wall Street Journal Multistate Convertible Adjustable-Rate Note LIBOR 6-Month Index as published in The Wall Street Journal Multistate Adjustable-Rate Note - WSJ One-Year LIBOR Multistate Adjustable-Rate Note - WSJ One-Year LIBOR Multistate Convertible Adjustable-Rate Note - WSJ One-Year LIBOR

* * * * *

Summary

3521

3521

* * *

Summary Summary Summary

3526 3527 3529

3526 3527 3529

Negotiated Instruments
Summary ------ English -----Spanish

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Negotiated Texas Home Equity Notes Texas Home Equity Note Fixed-Rate - First Lien * * * * *

.doc Summary

.pdf 3244.1 3263.44 3522.44 3523.44 3528.44 3529.44

.doc 3244.1 3263.44 3522.44 3523.44 3528.44 3529.44

.pdf 3244.1S

Texas Home Equity Fixed/Adjustable-Rate Note - 10 Summary Year Treasury Index - First Lien Texas Home Equity Fixed/Adjustable-Rate Note - 1 Year Treasury Index - First Lien Texas Home Equity Fixed/Adjustable-Rate Note - 1 Year Treasury Index - First Lien Texas Home Equity Fixed/Adjustable-Rate Note WSJ One-Year LIBOR Texas Home Equity Convertible Fixed/Adjustable-Rate Note - WSJ One-Year LIBOR Negotiated Fixed/Adjustable-Rate Notes Summary Summary Summary Summary Summary .doc Summary Summary Negotiated Navajo Nation Notes Fannie Mae/Navajo Nation - Single-Family Mortgage Negotiated Interest-Only Period Notes .doc Summary Summary .doc Summary Summary Summary Summary Summary Summary Summary Summary Summary Summary Multistate Convertible Fixed/Adjustable-Rate Note 10 Year Treasury

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Spanish .pdf

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Spanish .pdf

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Spanish .pdf 3271S 3271.02S 3271.10S 3271.20S 3271.30S 3271.33S 3271.46S 3271.47S 3271.49S 3271.50S 3530S 3531S 3532S 3533S

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Multistate Interest-Only Period Fixed-Rate Note Alaska Interest-Only Period Fixed-Rate Note Florida Interest-Only Period Fixed-Rate Note Maine Interest-Only Period Fixed-Rate Note New Hampshire Interest-Only Period Fixed-Rate Note New York Interest-Only Period Fixed-Rate Note Vermont Interest-Only Period Fixed-Rate Note Virginia Interest-Only Period Fixed-Rate Note West Virginia Interest-Only Period Fixed-Rate Note Wisconsin Interest-Only Period Fixed-Rate Note

Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year LIBOR Index Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year Treasury Index Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year LIBOR Index Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year Treasury Index Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year Treasury Index -10 Year Interest Only Period Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year LIBOR Index - 10 Year Interest Only Period Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year Treasury Index - 10 Year Interest Only Period Multistate Interest-Only Period Adjustable-Rate Note Summary - One-Year LIBOR Index - 10 Year Interest Only Period Summary Negotiated Adjustable-Rate Notes Multistate Adjustable-Rate Note - 5 Year ARM Multistate Adjustable-Rate Note - Fractional 1 Year Treasury Index .doc Summary Summary

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Legal Documents -- Notes

https://www.efanniemae.com/sf/formsdocs/documents/notes/

MultistateAdjustable-Rate Note - LIBOR 1 Month Index as published in the Wall Street Journal

Summary

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Visit our corporate site, www.fanniemae.com. 2001-2012 Fannie Mae. All Rights Reserved.

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