No trust and no investor ever received the money. Chase got it and lest you forget, remember that Chase was all about selling loans and derivatives based upon loans and synthetic derivatives based upon the derivatives. It was never about actually making loans where Chase could lose money or buying loan as that were going to be worthless of worth less. It was about selling them. So the revelation is that BONY never had a claim to the money and either did the nonexistent trust that was ignored once the foreclosure court proceedings were over.

Tags: BONY, Chase, follow the money trail, Mellon, owner of the debt, right to foreclose, servicer
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Tags: follow the money trail, OCC, self-regulation, wrongful foreclosure
Posted in bubble, Corruption, Eviction, securities fraud |