SECURITIZATION OF RECEIVABLES ON LOANS STILL GOING FULL SPEED

HERE IS JUST WELLS FARGO FOR 2010

October 2010 New Deals
Product Line
ABS ABS ABS ABS ABS ABS CMBS CMBS CMBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS MBS
Shelf Name
Series
2010-5 2010-3 2010-A 2010-1 2010-B 2010-A 2010-CNTR 2010-CNTR_MZ 2010-RR4 2010-3 2010-111 2010-112 2010-113 2010-114 2010-115 2010-116 2010-117 2010-118 2010-119 2010-120 2010-121 2010-122 2010-123 2010-124 2010-125 2010-126 2010-C16 2010-C17 2010-H18 2010-H19
Ally Master Owner Trust Americredit Automobile Receivables Trust Consumer Portfolio Services Drivetime Automotive Corporation Hyundai Auto Receivables Trust Novation Receivables Funding JP Morgan Chase Commercial Mortgage Securities Corp. JP Morgan Chase Commercial Mortgage Securities Corp. RBS Commercial Funding Inc FADR Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA) Government National Mortgage Association (GNMA)

 

11 Responses

  1. ANONYMOUS- thanks for vindicating my thoughts. I am thinking that the only way to get ahead of the curve is to communicate via separate email. That is all I will say. I cannot be the facilitator. Any takers?

  2. Ian,

    Your comment — “I would one day like to get everyone on this site together and see what we all have in common.” —– I am ready — This is EXACTLY what they do not want us to do!!! But — ready!! — And, believe me, AGAIN — they DO NOT WANT this. That is why we have to DO IT!!!

  3. ANONYMOUS- I realize that whether it be robosignors or ANYONE signing the documents, that they are fraudulent. That is a given, no matter WHO signs them. In our county, avg. 168 foreclosures per month, there is either 1 homeowner who shows up, or 0. Never 2, never 3. Most US citizens have been so demoralized and brainwashed that they give up. I would one day like to get everyone on this site together and see what we all have in common. Skepticism, intellectual curiosity, stubborness, or perhaps a sense of fair play that won’t quit? I read everything I have time to about this atrocity of foreclosure fraud, looking for the straw which will break the camel’s back. Your post about the distressed debt buyers using the trust as a ploy, (as default debt is unsecured) is what we need here, brief recitations of fact to hammer home the message. We all have to keep digging.

  4. Neva,

    Great Great post!!!! But, the servicers have a parent corporation — they do not have their own balance sheet — it is the parent corporation that is committing the fraud.

    By the “bank” — you mean the “trustee” plaintiff in foreclosure action — but, the trustee is not acting in a “bank” capacity – although they try to convince the court of this. The plaintiff trustee is only acting in a trustee capacity for the servicer – who purchases the non-performing loans from the trust the trustee claims to be acting on behalf of —- and then collect for itself (actually it’s mama/dad parent) – or the party mama/dad has sold collection rights to.

    Trustee job is long gone – because there are not any “current” payments.

    And, you are absolutely correct — insurance fraud is a big part of it. And, insurance fraud probably came into play before borrowers even defaulted.

    Great post.

  5. Ian,

    Yes — and how can these Robo-signing affidavits be fixed?? By stating that it was “fully reviewed”??? Fully reviewed and testifying to the fraud??? Who is going to do that? Who is going to testify to fraudulent chain of mortgage title – and everything else?? Going to have to pay those gals/guys a lot to do this!!!! Setting up for criminal prosecution of your own employees.

    It is not such the Robo-signer not reviewing — it is what they are testifying to — and all is a bunch of hogwash!!

  6. The proceeds from a foreclosure go to the Mortgage servicer. The bank is just the conduit. The mortgage servicer then tries to collect on mortgage insurance, and then on anything else [ There is talk about these credit swaps in the SEC documents and other forms of credit enhancement], then they pay the bills and pass what is left on to the investors.
    http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  7. Ian: Actually 62 million or so for MERS alone.

    Here’s an excellent article that is fresh off the press today, by the wonderful L. Randall Wray.

    http://www.huffingtonpost.com/l-randall-wray/post_1440_b_797563.html

  8. A copy of a note that appears to be an original can be forensically examined and found to be a copy in actuality. A forged document cannot be covered up by another forged document. Then, you have forgery which is a felony and fraud on the court for the second bogus note or assignment or satisfaction of mortgage. http://www.challengingforeclosure.com Sirak@challengingforeclosure.com

  9. In practically every news piece, every post,every sound bite,on every blog, everyone keeps mentioning that “thousands of mortgages may be affected”, in robosigning articles,”thousands” of mortgages may have questionable documentation, etcetera.
    Can everyone please start using “hundreds of thousands” as a reference number? In my county alone, there are thousands and thousands of questionable foreclosures. Let alone the rest of Pa.’s 67 counties,and all the other states. There are hundreds of thousands, if not millions, of questionable foreclosures. Whatever LPS has been doing, the other 300+ default servicers have been doing. Whatever Stern’s law firm was doing, thousands of other law firms were doing. There seems to be an extremely low level of awareness, lower than previously thought, of the illegality of it all. And how widespread it is. As Neil said 2 years ago, the single transaction theory, it is all 1 transaction, all one big lie, from cradle to grave.

  10. The business will not die easily — notice that most of these issues are Ginnie Mae — government backed. No private residential home loan securitizations.

  11. Yeah, but I bet they are not going to lose the note this time in addition to following the PSA to the letter.

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