This is one more nail in the coffin of false securitization: the only assets attributed to apparent “Buyers” were those related to and including servicer advances. By severing the investors from their positions as creditors, the banks were able to create the illusion that they — or their “originators”, brokers, nominees, fronts and sham operators […]

Tags: AHMSI, American Home Mortgage Servicing, Bank of America, Butler & Hosch, Citi Residential Lending, Dennis G. Stowe, Homeward Residential, Master Servicing Rights, Matt Byas, Ocwen, Option One, saxon mortgage
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