U.S. TREASURY IS THE CREDITOR AND CO-CONSPIRATOR

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM

GOVERNMENT IS PAID TO LOOK THE OTHER WAY

EDITOR’S COMMENT: The U.S. Treasury is reported to own $4.6 TRILLION in mortgage bonds, which would make it the creditor in millions of homes that (a) have already been “foreclosed” (b) are in “foreclosure” or (c) going to be foreclosed. Yet not once in any court action is the U.S. Treasury named as the creditor or having any interest in any mortgage. They paid 100 cents on the dollar  to save the big powers on Wall Street (ignoring the smaller players who had played fair and square) and now they are going to test the market by starting to sell these mortgage bonds back into the marketplace.

[PRACTICE SUGGESTION: UNDER FREEDOM OF INFORMATION OR SUBPOENA, GET THE DETAILS AND DOCUMENTATION OF THE DEALS IN WHICH THE U.S. TREASURY ACQUIRED THOSE “ASSETS”]

So if you want to know why the government’s programs have been so anemic in confronting the fraudulent, illicit and  immoral behavior of Wall Street and the pretender lenders out there foreclosing on homes they never financed, you don’t have to look any further than the $4.6 TRILLION that the government says it is holding in mortgage-backed bonds that are backed by fatally defective and fraudulent mortgages and notes.

If the government were to tell the truth the way Elizabeth Warren says should be done, then the government would have to admit that (a) under the best case scenario they spent 100 cents when the speculative value was only 2-3 cents and (b) there is something fundamentally wrong with the mortgage backed bonds and the underlying fatally defective, fraudulent mortgages and notes. THAT WOULD AMOUNT TO ADMISSION THAT THE TAXPAYERS GIFTED $4.6 TRILLION TO WALL STREET.

To put this into perspective: 7 million homes have been fraudulently sold at auction on credit bids submitted by non-creditors. Not one penny was paid at these auctions nor any money before that because the bidder never lent any money nor did they purchase the receivable. The bidder was paid as a stand-in for the undisclosed and potentially unknowable creditor just like the “loan originator” was paid to stand in as the lender.

Applying the $4.6 TRILLION from the U.S. Treasury to cover losses to investors and homeowners caused by fraudulent appraisals, fraudulent ratings, and deceptive lending practices, (instead of giving the money to Wall Street) would have allowed an average of $657,142 to be applied on each so-called mortgage transaction providing more than enough to provide substantial relief to investors, and correcting the bogus loans to fair market value levels, thus leaving the investors where they intended to be and the homeowners where they intended to be. Oops!

Instead, the U.S. Treasury maintains the illusion of authenticity of the mortgage bonds and the mortgages, obscures the identity of creditors in foreclosures, and continues to indirectly prop up balance sheets of mega institutions on Wall Street. The true value of the Citi group is not $129 Billion as reported but more like a negative figure. Let it fall, and do what is right for investors and homeowners and the economy is largely fixed. Continue with current policy and our credibility in world markets will continue to erode. I’m not the only one who figured this out. Central Bankers and world economists understand this perfectly well.

It’s not too late. Don’t sell the bonds. Use them to make things right with investors and homeowners and go after the assets of the mega banks including the off-shore money that management took in the tier 2 yield spread premium that nobody wants to talk about. There management cheated not only investors and borrowers, but stockholders as well.

BBC: US Treasury to sell $142bn of mortgage assets

The US housing market is still fragile

The US Treasury has said it will start selling off $142bn (£87bn) worth of mortgage-backed securities that it bought during the financial crisis.

It said it would look to sell up to $10bn worth every month and expected to generate a profit of between $15bn and $20bn from the sales.

The money will help to reduce the government’s high budget deficit.

The Treasury bought the securities in 2008 and 2009 as part of its attempts to combat the financial crisis.

“We’re continuing to wind down the emergency programmes that were put in place in 2008 and 2009 to help restore market stability, and the sale of these securities is consistent with that effort,” said assistant treasury secretary for financial markets Mary Miller.

“We will exit this investment at a gradual and orderly pace to maximise the recovery of taxpayer dollars and help protect the process of repair of the housing market.”

The government stepped in to buy the mortgage-backed securities when investors began lose confidence in the instruments when the housing market slumped during the financial crisis.

The housing market is still fragile in the US, with figures released on Monday showing a fall in existing home sales in February of 9.6% compared with the previous month.

Tags: $4.6 TRILLION, bailout, borrower, Citibank, disclosure, Elizabeth Warren, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage bonds, mortgage meltdown, predatory lending, rescission, securitization, U.S. Treasury
Posted in bubble, Corruption, Eviction, securities fraud |