Tonight — Silent Roles of Fannie Mae and Freddie Mac — Hiding Behind the Obtuse

How to Withhold Vital Information from Homeowners

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Charles Marshall, Attorney and Bill Paatalo, licensed investigator discuss the moral hazard created by the Government Sponsored Entities (GSEs) banks, the courts and the regulators in allowing “presumptions” to be used even when the actual facts are different from the presumed facts.

Fannie and Freddie have long been a mystery wrapped in an enigma.

Before false claims of securitization, before fabrication and forgery of documents, the GSEs had fairly clear role in the origination, servicing and enforcement of mortgages. Now they are used as cover to hide lack of ownership where the banks and servicers make the homeowner travel and endless loop leading nowhere.

Now, as to any specific loan, we don’t know which of the following applies:

1.  GSE is the guarantor of the loan (basically like a third party insurer with government backing)
2. GSE is Master Trustee of a REMIC Trust in which there is a named Trustee who has the same powers, rights and obligations as the Master Trustee — i.e., no powers to actively administer the active affairs of the trust because there is no business or assets in the trust.
3. GSE is or was a purchaser for cash.
4. GSE is or was a purchaser using MBS issued by a named trust that either exists or doesn’t exist.
5. GSE, using Trust A MBS paid Trust A for loans owned by the Trust or for loans not owned by the trust.
6. GSE was a seller of the subject debt, note or mortgage.
7. GSE claimed ownership when it didn’t own the subject debt, note or mortgage.
8. GSE showed subject loan on its website but had no interest in the subject debt, note or mortgage (or foreclosure).
9. Third parties claimed that GSE owned the subject debt, note and/or mortgage and it was true.
10. Third parties claimed that GSE owned the subject debt, note and/or mortgage and it was false.

Tags: Fannie, Freddie, GSE
Posted in evidence, expert witness, Fabrication of documents, foreclosure defenses, Pleading |