EDITOR’S NOTE: GOOD STUFF — VERY HELPFUL FOR THOSE OF YOU WHO ARE DRILLING DOWN
Deal Book reports ‘spin’ provided by business entities who don’t want you to know how they do business. The information I find is pubic. DB is misleading you to believe related mess taking away attention from their own selves been knee deep throughout.
MortgageIt (don’t let the name fool you to how egregious the transactions are) and intent!
Subsidiary of MortgageIt Holdings, Inc.
Note the (New York State business entities) were registered to appear recent. JURISDICTION: ‘Maryland
Federal Reserve Report there is no ‘Mortgage It’ 12/31/2006 but money was moving through it long before 2006.
Research reveals DB Mortgage as related to closings of MortgageIT the relationship:
Federal Reserve Repository 12/31/2006: Details come up for national bank associations only?
405 —-* DB MORTGAGE INVESTMENT INC. (2691215) 273 BALTIMORE MD Domestic Entity Other -Flows to #273 – who is: ->
273 —* DB HOLDINGS (NEW YORK), INC. (1442737) 268 NEW YORK NY Domestic Entity
Flows to #268 – who is:
268 –* DB U.S. FINANCIAL MARKETS HOLDING CORPORATION\ (2259679) 102 NEW YORK NY Domestic Entity Other Flows to #102 who is:
102 -* TAUNUS CORPORATION (2816906) 1 NEW YORK NY Financial Holding Company – Domestic
Who Flows to #1 – Who is: who flows to
1 * DEUTSCHE BANK AKTIENGESELLSCHAFT (1242423) FRANKFURT GERMANY F i n a n c i a l H o ld i n g Company – Foreign
Who was in charge at that time saying ‘they did not know “what the bubble was”?’ Greenspan what did he exclude form his reports must be analyzed to identify the loopholes and defects of his analysis.
Was he really on TIME’s COVER?
More valuable research facts:
Deutsche Bank “DB” MortgageIT – halted wholesale lending
MortgageIT – consolidated with DB Home Lending, rumored to be offering agency loans only
MortgageIT – layoffs and branch closure
.mec comment Deutsche Bank AG was in big hurry to blow off entities bad debt moving money $10,000,000,000 hard and fast thru SEC ‘MortgageIt’ and notice they only created PROSPECTUS’s!!!! 2004-2005.
Pay attention to the details. Don’t relay on the ‘press releases’ they become the way to control reasonable people pruchasing their stock and products – advertising that’s it!
Deutsche Bank “DB” MortgageIT – halted wholesale lending (but from where?)
MortgageIT – consolidated with DB Home Lending, rumored to be offering agency loans only (11/5/2010 list update related to article and link below 2/7/21 “A List of Mortgage Closures, Mergers and Layoffs”
MortgageIT – layoffs and branch closure
MEC looked up New York State Business Entities-2:
MORTGAGEIT registered in NYS 2/22/1999 as
MIT DOT COM, INC.
Renamed June 15, 1999, as MORTGAGEIT, INC.
NYS Business Entity registered 1999 Stock Information as follows:
# of Shares / Type of Stock / $ Value per Share
22,000,000 Par Value .01
7,500,000 Par Value .01
24,250,000 Par Value .01
———————————————————–
Quoteing: ‘Follow the Money” N.Garfield. I am:
FEDERAL RESERVE SYSTEM
MORTGAGEIT CAPITAL TRUST I (3629831) NEW YORK NY Domestic Entity Other
Created 01/02/2007 – Still open 05/02/2011
MORTGAGEIT CAPITAL TRUST II (3629859) NEW YORK NY Domestic Entity Other
01/02/2007 Created and 04/30/2008 CLOSED
MORTGAGEIT CAPITAL TRUST III (3629868) NEW YORK NY Domestic Entity Other
01/02/2007 Created still open 05/02/2011
MORTGAGEIT SECURITIES CORP. (3918030) NEW YORK NY Domestic Entity Other
02/02/2007 Established
4/30/2008 Institution Closed with Federal Reserve.
Not with SECCIK 1305551 (Asset-Backed Securities) Oldest transactions 10/12/04 – 10/25/05 only PROSPECTUS’s.
IRS# 56-2483326
Doug W. Naidus CEO
10/12/2004
$10,000,000,000 100% Maximum Offering
Registration Fee $1,267,000 (paid to underwriters & Master Servicer just for publishing proposed maximum offering!)
OFFERED SECURITIES
“MortgageIt’ will establish 1 or more trusts and sell ‘mortgage pass-through certificates or mortgage-backed notes’
‘TRUST FUND’
Securities will be secured by a TRUST FUND
a segregated pool of mortgage loans
-mortgage loans servued by 1st and jr. liens on the related mortgage property;
-home equity revoling lines of credit (HELOC)
-mortgage loans little or no equity in related mortgagge property
-mortgage loans secured by ? (what)? residential
-mortgage loans secured by ? (what?) commercial
-manufactured housing conditional sales contracts and installment loan agreements – secured by what?
MORTGAGEIT acquired from one or more affiliated or unaffiliated institutions.
May include any one or any combination:
a financial guaranty insurance policy,
mortgage pool insurance policy,
letter of credit,
special hazard insurance policy, or
reserve fund,
currency or interest rate exchange agreements,
orther type of credit enhancement described in this prospectus (.mec comment REDWOOD TRUST procurement credit enhancement?)
In addition or in lieu of the foregoing, credit enhancment may be provided by means of subordination of one of more classes of securities by cross-collateralization or by overcollateralization.
Search on secinfo.com (2)
MortgageIT Securities Corp/Mortgage Loan Trust/Series 2007-1
MortgageIT Securities Corp/Mortgage Loan Trust/Series 2007-2
——————————————
Federal Reserve System :
MORTGAGEIT SPV HOLDINGS, INC. (3630154) NEW YORK NY Domestic Entity Other
01/02/2007 Created
12/17/2008 Institution Closed.
MORTGAGEIT, INC. (3629840) NEW YORK NY Domestic Entity Other
01/02/2007 CREATED and still open 05/02/2011.
http://www.ffiec.gov/nicpubweb/nicweb/SearchForm.aspx
MortgageIT Parents are:
Deutsche Bank Aktiengesellschaft
a (Financial Holding Company – Foreign) and
TANUS Corporation a
(Financial Holding Co Domestic)
MortgageIt operates under FRB ‘characteristic’
Definition:
Domestic Entity Other:
Domestic institutions that engage in banking activities usually in connection with the business of banking in the United States.
Deutsche Bank AG (Foreign) & Taurus (Domestic) operate thru Federal Reserve System using characteristic since 2000 (Gramm-Leach-Bliley Act)
Please read this part slowly (Every 10 Years must sell and keep moving, moving, moving …)
Federal Reserve System ‘Characteristic’
Very Important Definition:
Financial Holding Company
A financial entity engaged in a broad range of banking-related activities, created by the Gramm-Leach-Bliley Act of 1999.
These activities include: insurance underwriting, securities dealing and underwriting, financial and investment advisory services, merchant banking, issuing or selling securitized interests in bank-eligible assets, and generally engaging in any non-banking activity authorized by the Bank Holding Company Act.
The Federal Reserve Board is responsible for supervising the financial condition and activities of financial holding companies. Similarly, any non-bank commercial company that is predominantly engaged in financial activities, earning 85% or more of its gross revenues from financial services, may choose to become a financial holding company. These companies are required to sell any non-financial (commercial) businesses within ten years.
MortgageIt, Inc. New York,FRB: RSSD ID 3629840
(note did not exist in 2006 for flow of currency in that name)
Business Entity Search 2 Entities exist:
MortgageIt, Inc. 2/22/1999
Jurisdiction NY: Active
CEO Dug W. Naidus
60 Wall St
15th Floor
New York, NY 10005
Former nameMIT DOT COM, Inc. 2/22/1999
6/5/1999 changed to MORTGAGEIT, Inc.
MORTGAGEIT HOLDINGS, CIN
6/22/2004 Jurisdiction MD, County NY
Termination 10/20/2009
DOUG W. NAIDUS CEO
33 Mainden Lane
6th Floor
New York, NY 10038
(.mec comment RELATED TO “MAIDEN LANE?”? for another day
From Business Entity registration you see that Jurisdiction ‘Maryland’
Federal Reserve Report there is no ‘Mortgage It’ 12/31/2006 (how did it move money as a state or federal bank?)
Note below on DB Mortgage as related to closings of MortgageIT and low and behold we have a prior (earlier) relationships.
Federal Reserve System:
405 —-* DB MORTGAGE INVESTMENT INC. (2691215) 273 BALTIMORE MD Domestic Entity Other
Flows to #273 – who is:
273 —* DB HOLDINGS (NEW YORK), INC. (1442737) 268 NEW YORK NY Domestic Entity
Flows to #268 – who is:
268 –* DB U.S. FINANCIAL MARKETS HOLDING CORPORATION\ (2259679)
102 NEW YORK NY Domestic Entity Other
Flows to #102 – who is:
102 -* TAUNUS CORPORATION (2816906) 1 NEW YORK NY Financial Holding Company – Domestic
Who Flows to #1 – Who is:
1 * DEUTSCHE BANK AKTIENGESELLSCHAFT (1242423) FRANKFURT GERMANY F i n a n c i a l H o ld i n g Company – Foreign
“Who” was in charge of claiming “We Don’t Know What The Bubble Is” or was it “WHY” or “WHO”? I know who.
When GREENSPAN would annouce the numbers and all of the sheep would go crazy to catch the buy – short or long – did GREENSPAN not know what the bubble was? Then we need to know what Greenspan excluded form his reports. Or we will be reporting the same incorrect information to the public right?
What were the loopholes (exclusions) defects and has SOMEBODY identified and corrected the defect?
WILL WE SEE THAT REPORT ON THE COVER OF TIME? WHO IDENTIFIED THE DEFECTS? GREENSPAN IS ON THE COVER OF TIME RIGHT?
Deutsche Bank “DB” MortgageIT – halted wholesale lending
MortgageIT – consolidated with DB Home Lending, rumored to be offering agency loans only
MortgageIT – layoffs and branch closure
Lehman passes transactions through… YOU THINK YOU KNOW ….
Have to let you know in Agreements during foreclosue that Master Servicer BUYER ‘Lehman’ and ‘entity called AURORA AS MASTER SERVICER PASS all loans to be foreclosued thru “National City” see 2010 list ” – ceases wholesale lending”
Report includesnfo on Aurora as what the renamed Lehman Brothers Bank FSB?
BUSINESS ENTITIES IN NY – (NOT IN FEDERAL RESERVE SYSTEM! SO HOW WERE THEY A LENDER? AS NOTED IN THE 2010 UPDATE?)
Aurora Loan Financial Inc and LLC are/were WHAT, HOW, WHEN, WHERE, WHY, HOW? Come on – the business map depicting business flows from Aurora Loan Financial to Lehman Commodities (does not exist in NYS) only in Wyoming? In 2005 in NYS Aurora created for Loan Mitigation. Wow! 3 Year rolling plan in action. Foreclosues – ready – willing and able to take all of the 95% of uncontested defaults!
Is Bloomberg a TRUSTED SOURCE for the consumers? as reasonable people? Remember they report only what they are given; print what they are given.
I would guess somebody pays a lot for that privlege.
Just another form of deceptive advertising targettging consumers.
Hey America -still feeling ‘safe’ to Mortgage It!
//Company Overview BLOOMBERG
MortgageIT, Inc., a residential mortgage banking company, provides retail, wholesale, and correspondent lending products and services in the United States. The company focuses on originating and lending residential mortgage loans in the United States. It originates residential mortgage loans of various types, including prime adjustable-rate (ARM) and fixed-rate, first-lien residential mortgage loans, sub-prime mortgage loans, home equity lines of credit, and second lien loans. The company also originates prime first lien conventional and non-conventional, conforming single-family residential mortgage loans; non-conforming first lien single-family residential mortgage loans, such as jumbo loa…
MortgageIT, Inc., a residential mortgage banking company, provides retail, wholesale, and correspondent lending products and services in the United States. The company focuses on originating and lending residential mortgage loans in the United States. It originates residential mortgage loans of various types, including prime adjustable-rate (ARM) and fixed-rate, first-lien residential mortgage loans, sub-prime mortgage loans, home equity lines of credit, and second lien loans. The company also originates prime first lien conventional and non-conventional, conforming single-family residential mortgage loans; non-conforming first lien single-family residential mortgage loans, such as jumbo loans, non-prime loans and ‘‘Alt A’’ loans, as well as home equity and second lien mortgage loans. In addition, it purchases prime first-lien closed mortgage loans from small to mid-sized banks, credit unions and mortgage bankers. MortgageIT offers its products and services through various business channels, such as retail lending, wholesale lending, correspondent lending, and title closing/settlement services. MortgageIT, Inc. was formerly known as MIT DOT COM, Inc. and changed its name to MortgageIT, Inc. in February 1999. The company was founded in 1988 and is based in New York, New York. MortgageIT, Inc. operates as a subsidiary of MortgageIT Holdings, Inc. “”
How Deceptive: FOUNDED IN 1988
33 Maiden Lane
6th and 7th Floor
New Yor 10038
212-651-7700
212-719-0933 (Fax)
GOOGLE.COM states ‘Mortgagei, Inc. is a subsidiary Company
SIC Industry “Mortgage Bankers & Brokers Revenu
Revenue: $295,000,000,000
Employees 2,328?
NAICS: Wholesale Trade Agents and Brokers (425120)
Norm Merritt President
Doug Naidus Co-Founder Chairman and Chief Executive Officer
Aurora – stopped wholesale and correspondent lending
Aurora Loan Services – 160 employees laid off
Aurora Loan Services – laid off 70 in Florida,
139 in NJ
Aurora Loan Services – cut 93 jobs in El Toro, CA
——————————————————————-
Source of MortgageIt and relationship to DB from updated 2010 list related to this article 2/7/21:
A List of Mortgage Closures, Mergers and Layoffs
21Feb07
So why are all these mortgage companies consolidating, laying off employees, sending out warnings, and going out of business?
Well, a recent statistic revealed that 2.33% of all US mortgages are currently delinquent, a number which is sure to rise. And repurchases have tripled between the first and second quarter of 2006.
Not to mention declining home values in almost every metropolitan area throughout the United States, sky-high home prices, rampant fraud, a deteriorating secondary market and unmanageable mortgage payments.
I recently began adding mortgage lenders from parts of the world other than the United States that have issued profit warnings, as well as companies that remain open but have been affected seriously by the mortgage crisis in one way or another.
According to a recent report, there were 86,126 mortgage job cuts in 2007, with another 30,000 to 40,000 expected by early 2008.
___________________________
STRANGER DANGER ALERT:
AURORA’ IS A PRETENDER LENDER. NEVER A LENDER THEY ARE SINCE 2005 A ‘LOAN MITIGATOR’ FOR LEHMAN COMMODITIES.
AUROA LOAN SERVICES
http://www.thetruthaboutmortgage.com/a-list-of-recent-mortgage-closures-mergers-and-layoffs/
For example website Foreclosue Help By Bank:
Wells Fargo, PHH MORTGAGE and PHH Bank! RBS, Quicken Loans, PNC, , US Bank NA, AmTrust Bank, FlagStar Bank, Countrywide (logo’s) ‘Ally fictitious name for GMAC Mortgage Corp the one in agreements with Wells Fargo Bank NA – Wells Fargo & Co/MN (formerly Norwest). BB&T BOA CapitalOne Bank, Chase, Citibank, Goldman, HSBC, KeyBank ING Bank, Merrill Lynch, Morgan Stanley, Option One, Regions, Sovereign, TD Bank, UBS, Union Bank, USAA
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