Investment banks bundled mortgage loans into securities and then often rebundled those securities one or two more times. Those securities were given high ratings and sold to investors, who have since lost billions of dollars on them. Editor’s Note: The significance of this report cannot be overstated. Not only did the investment bankers LOOK for […]

Tags: accounting, Bank of America, BofA, bundled, BURDEN OF PROOF, Charles Koppa, Citigroup Inc, Countrywide Home Loans, damages, Deutsche Bank AG, Fitch ratings, Goldman Sachs, GRETCHEN MORGENSON, guaranteed to fail, injunction, JP Morgan Chase, Louise Story, Merrill Lynch, modifications, Moody's Investor Service, prima facie case, rebundled, securitization, short sales, Standard & Poor's, Substitute Trustee, The New York Times, yield spread premium
Posted in bubble, Corruption, Eviction, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Mortgage ruling could shock U.S. banking industry Mon Jun 30, 2008 8:14pm BST By Gina Keating – Analysis LOS ANGELES (Reuters) – A lawsuit filed by a Wisconsin couple against their mortgage lender could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when their […]

Tags: Adelman, bundled, Chevy Chase Bank, countrywide, Demet, foreclosure defense, fraud, investment vehicles, lending fraud, mortgage lender, rescission, truth in lending, Wisconsin
Posted in Eviction |