“The securitization of debt was in reality a distribution of cash unsupported by any rightful claim to it.” EDITOR’S NOTE: Another unthinkable “counter-intuitive” part of the process of disintegration on Wall Street. AMBAC, whose business was insuring those alleged mortgage bonds that turned out to have nothing in them, is going broke. Like its competitor, […]

Tags: AMbac, Assured Guaranty, BOND INSURER, Wilbur Ross
Posted in bubble, Corruption, Eviction, securities fraud |

AHMSI (American Home Mortgage Servicing Inc) purchased substantially all of Option One Mortgage about two years ago. AHMSI is owned by the texas billionaire Wilbur Ross. A number of Option One’s loans are now serviced by SPS, Select Portfolio Servicing, formerly Fairbanks Capital, which changed their name following DOJ sanctions and a 48 million dollar […]

Tags: 48 million dollar fine, AHMSI, American Home Mortgage Servicing Inc, DOJ sanctions, Fairbanks Capital, HERS, Option One Mortgage, Sandhills mortgage or financial, Select Portfolio Servicing, SPS, Wells Fargo, Wilbur Ross
Posted in bubble, Corruption, Eviction, securities fraud, Servicer |