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March 30, 2009

DON'T WALK AWAY — LET THE BANK WALK AWAY!

12 Comments / CDO, Corruption, Eviction, foreclosure, Investor, Modification, Mortgage, securities fraud / By

“The way mortgages are bundled and resold, it can be enormously time-consuming just trying to determine what company holds the loan on a property thought to be in foreclosure.” Susan Saulny of the NY Times gets credit for her story on the front page today. It points out what we have been saying here all …

DON'T WALK AWAY — LET THE BANK WALK AWAY! Read More »

How securitization nullifies the original note and mortgage. The Originating Lender is PAID IN FULL

17 Comments / CDO, Corruption, Eviction, foreclosure, GTC | Honor, Modification, Mortgage, securities fraud / By

By the METHOD of pooling and tranching, they converted from negotiable to non-negotiable instrument. (Article VIII UCC). That means that upon transfer the recipient of the payment is satisfied in full and a new obligation arises between the seller and buyer separate and apart from the borrower. Further, the method calls for the proceeds of …

How securitization nullifies the original note and mortgage. The Originating Lender is PAID IN FULL Read More »

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