Important Note: If you are a borrower whose residential mortgage loan was serviced by the Debtors prior to or during the Chapter 11 proceedings and you timely filed a claim in those proceedings, it is highly likely that your questions are best directed to Peter S. Kravitz, as representative of the Borrower Claims Trust created under the Plan. The Borrower Claims Trust was established for the sole benefit of the holders of Allowed Borrower Claims and is administered by the Borrower Claims Trustee.
**If you are requesting a lien release or a corrected assignment on a loan liquidated prior to February 15, 2013, please note that the Joint Chapter 11 Plan (the “Plan”) approved and ordered by the bankruptcy court limits the Trust’s rights and obligations.
Pursuant to the Plan, the ResCap Liquidating Trust has been released from liability for pre-petition claims. Accordingly, Paragraph 40(G) of the Order confirming the Plan bars any claims against the Debtors or the Liquidating Trust (the “Plan Injunction”). A copy of the confirmation order can be found here.
In addition, on March 13, 2015, the Bankruptcy Court entered an Order Granting the Motion for Entry of an Order Establishing Procedures Enforcing Injunctive Provisions of Plan and Confirmation (“Procedures Order”). The Procedures Order (i) bars parties from continuing to prosecute actions against the Debtors that violate the injunction provisions of the Plan and Confirmation Order, and (ii) permits the Liquidating Trust to seek further relief from the Bankruptcy Court in the event a party refuses to dismiss such an action with respect to the Debtors. The procedures order can be found here.
In light of these court-approved orders, the ResCap Liquidating Trust is unable to assist with your request for a lien release or corrected assignment. However, the ResCap Liquidating Trust will not seek to enforce the Plan Injunction or the Procedures Order where a party seeks only equitable relief relating to a property in which the Trust does not hold a current interest and where that party does not seek any monetary damages against any of the Debtors or the ResCap Liquidating Trust.