GOV OWNS MORTGAGE BONDS, CONTROLS THE MORTGAGES: DO SOMETHING!

SUBMITTED BY DEB WYNN

EDITOR’S NOTE: Deutsch Bank, figuring prominently in the entire securitization scheme in more ways than we can count, is counted amongst the two top beneficiaries of the buying program from the Federal Reserve, the Lending program from the Federal reserve, and the Buying program from the US Treasury. And then you have the Fannie and Freddie who are said to control or own $10 trillion worth of mortgages, although the precise mechanism under which they supposedly have those mortgages, loans or receivables is as muddled as the rest of the transfers in securitized loans and the is subject to the origination defects as well.

So in one form or another, directly or indirectly, the United States Federal Government literally claims to own or control nearly all of the mortgages.

BUT so do Deutsch Bank or people who say they speak for Deutsch Bank and so do other “trustees,” “agents”, or other people who say that even though the money isn’t actually owed to them, they can collect it. AND they say that even though the money isn’t actually owed to them, they can cause a foreclosure to be filed. And they say that even though the money isn’t owed to them they can cause the sale of a home at auction over the homeowner’s objections. AND they say that even though the money isn’t really owed to them, THEY can submit a credit bid at the auction and take title to the house or DIRECT title to be issued to some designee.

AND the courts are stumbling along trying to do the right thing without the real parties in interest stepping forward. The investors are suing the investment banks saying the mortgages are either not valid, or that improper methods were used to originate them, or that the mortgages were never properly placed in the pools because the proper procedures were not followed. The Federal Government is standing back watching this disaster when it claims to be the actual owner or controller of these loans, receivables, notes, mortgages or however they are being described these days.

So if we know there is a problem with “ownership”, we know that title and chain of title is being thrown daily into deeper and deeper chaos, it seems to me that whether it wants to or not ONLY the Federal Reserve and the Federal Government MUST take a position — one way or the other. Either they own it or they don’t. If they do, then in order to be in court or on the courthouse steps, somebody must have authorization to represent the government. If they don’t, then we deserve an explanation for what it is they bought with trillions of dollars of taxpayers’ money.

They can’t have it both ways. The Feds can’t say they own these loans and then do nothing about it, leaving it to others who by definition DON’T own the loans to fight it out in courts.  Anyone smell gas?

Deutsche Bank And Credit Suisse: The Two Top Beneficiaries Of Fed Mortgage Buying (DB, CS)

Today, December 01, 2010, 10 hours ago | Katya Wachtel
Thanks to Zerohedge, we know that the banks which were the top beneficiaries of the Agency Mortgage-Backed Securities (MBS) Purchase Program were two foreign-based banks.

This probably confirms suspicions that US banks loaded up foreign banks with mortgage junk, but there’s no reason to jump to conclusions.

This is what we do know:

The Fed purchased $293 billion in MBS from Deutsche Bank, and $287 billion from Credit Suisse.

Rounding out the list’s top six, and with significantly less MBS bought by the Fed, was Morgan Stanley, then Citi, then Merrill Lynch, then Goldman Sachs.

Background: the MBS purchase program was announced in November 2008, with a notable expansion in its scope in early 2009. The Fed says $1.25 trillion in agency MBS were purchased between January 2009 and March 2010.

13 Responses

  1. Deb wynn

    It is frightening. But, then we have to ask why???
    All was covered up from day one that the financial crisis was exposed.

    Of course, they acted like they knew nothing at that time — they – including the government, media, and financial institutions. They knew…. they knew…..they knew. Believe me, they knew.

  2. FORECLOSUREBLUES ON THE FRANK LEWIS SHOW WNRI 1380 AM 11.29.2010
    Posted on December 2, 2010 by Foreclosureblues
    THE EDITOR OF FORECLOSUREBLUES IS INTERVIEWED ABOUT THE ECONOMICS
    OF MORTGAGES AND FORECLOSURES

    LISTEN HERE…..

    http://www.archive.org/details/ForeclosurebluesOnTheFrankLewisShowWnri1380Am11.29.10

    FORECLOSUREBLUES ON THE FRANK LEWIS SHOW WNRI 1380 AM 11.29.2010

    News/Talk 1380 WNRI 786 Diamond Hill Road Woonsocket, Rhode Island 02895-1476

  3. Anonymous. Thanks. Hence the services are so cocky in court. Thet have no fear of the law thst always amazed me their total lack of respect and disregard for the untruths they were telling and blatant bluffing of the court system I have a papertrail thru objection to foreclosure through bankruptcy court and now federal court I have stumbled along learning as I went about this mammoth colluted effort to take the money an the homes of those who were lambs to the slaughter

  4. Deb wynn,

    Sorry – credit should be to you – for posting!!!!

    This is why current hearings focus on servicer fraud – and not standing/real party in interest – which should also be a huge focus. The government could be your current creditor. Imagine that – that the government has concealed itself in foreclosure process – and at the same time Congress passed HAMP which was supposed to have been structured for servicers to MEANINGFULLY modify loans. Servicers have not only NOT meaningfully modified loans – servicers may be fraudulently manufacturing foreclosures. And, if the government is current creditor/owns collections rights – then the servicer is government’s agent.

  5. WE JUST PAID THE GOVERNMENT WITH OUR TAX DOLLARS TO EVICT AND TAKE ALL OUR PROPERTY.

    ISNT THAT WHAT GOVERNMENTS HAVE BEEN DOING THROUGHOUT HISTORY OF MANKIND.

  6. DID YOU JUST DISCOVER AMERICA?

    IS THIS REALLY NEWS.

  7. Here Ben Bernanke is caught lying, red-handed to Congressman Alan Grayson in session, on 7-21-09.

    http://www.youtube.com/watch?v=uGs_Qn5yEgs&

    This criminal lying to congress (and us) needs to be indicted within a week, or this whole ‘government’ and ‘system’ is a sham.

    If we don’t do something with the Federal Reserve counterfeiting, we will NEVER be able to do something with these null mortgages. It is backing this whole criminal enterprise up.

  8. So basically our government is the enemy…. this is nothing new. When does the war start, I’m tired of waiting.

  9. Now the government ‘owns’ the MBSs, cancel ALL $10 Trillion in Bank Mortgages for Fraud & Nullity.

    Cheaper Than the $24.5 Trillion Bailout down-payment to the Banks for the C.D.S.

    People in their homes can rebuild America.

    The government/Federal Reserve counterfeited the ‘money’ to ‘buy’ them out of thin air; and will steal that $24.5 T. back from your grandchildren paychecks with compound interest, unless you cancel all securitized mortgages for nullity NOW.

  10. I found this on foreclosure blues. This is an excellent source of cutting edge info and just like neils site.

  11. Feds bought before 2009.

    Right on – Neil – answered my question – the government is current investor – unless loan has already been pawned off to distressed debt buyers/hedge fund – which was the government’s intent.

  12. The feds as I understand it started buying the MB Securities back in late 2009, but I could never find out how they laid out the 1 T for Fannies and Freddie’s stuff. And I have always been concerned about how they paid for it since they did not prepare the budget and promissed to do it by February, 2010. To date it has not been done so we do not know how it was booked. I am pretty sure this is correct. But by now they have purchased a lot more I am sure. I believe that is why the Hamp program came out. Most people did not understand that the program was designed to modify Fannie and Freddie loans. They have confused us all so that the homeowners thought it applied to everyone’s loan. I do believe however that if you called your servicer, I was never sure whether they were told right away that it was for Fannie and Freddie loans only. It may be on the Hamp website to help people.

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