SCREWING UP TITLE EVEN MORE: FANNIE AND FREDDIE OFFLOADING PROPERTIES IT DOES NOT OWN

MOST POPULAR ARTICLES

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE

EDITOR’S COMMENT: THEY JUST DON’T WANT TO GET IT, DO THEY? After years of evidence and proof disregarded in courts because of “say it isn’t so” thinking, the former GSEs, now entirely nationalized by our government are trying to sell the property they don’t own, but are pretending to own, adding to the pretender lenders’ claims of ownership and foreclosures.

Here is it is pure and simple: The properties in question were not foreclosed, not subject to auction, and not sold. The deed from the bogus auction is void. It is, in the parlance of title examiners, a wild ded, because the chain of title is (a) filled with gaps (b) filled in with forged fabricated documents or (c) BOTH.

submitted by E. Tolle

The Federal Housing Finance Agency (FHFA), is seeking input and ideas on how to liquidate the current huge inventory of owned real estate (REO) currently held by FHA, Fannie Mae and Freddie Mac. Here is your chance to be heard. The FHFA, the conservator of the two government sponsored enterprises (GSE) in conjunction with the Departments of Treasury and Housing and Urban Development (HUD) are requesting options for selling or otherwise putting the houses into useful service. The three issued a joint Request for Information (RFI) on Wednesday soliciting a range of ideas, including a transition of REO properties to rental use.

http://www.mortgagenewsdaily.com/08102011_gses_reo_inventory.asp

So, what this means is they are looking to offload up to a billion dollars worth of foreclosed homes at a time to investors (read:elite) with the express desire that these homes be rented to us. Geithner said, “Exploring new options for selling these foreclosed properties will help expand access to affordable rental housing, promote private investment in local housing markets, and support neighborhood and home price stability.”

People, please look hard and see what is really going on here. Wikipedia:

Rentier capitalism ~ a term which refers to a type of capitalism where a large amount of profit-income generated takes the form of property income, received as interest, intellectual property rights, rents, dividends, fees or capital gains.

The beneficiaries of this income are a property-owning social class who, it is argued, play no productive role in the economy themselves but who monopolize the access to physical assets, financial assets and technologies. They make money not from producing anything new themselves, but purely from their ownership of property (which provides a claim to a {never ending} revenue stream.)

Often the term rentier capitalism is used with the connotation that it is a form of parasitism or a decadent form of capitalism.

Hmmm…parasitism? Folks, a simple examination of basic life sciences shows us what type of relationship we, the actual workers of society have with this financial class known as the rentiers.

Biology 101 teaches us that symbiosis is defined as “life together”, i.e., two organisms live in an association with one another. Science further refines these relationships as such:

1. Mutualism. Both members of the association benefit. ~ I don’t see that here at all. The workers hoe the rows while the rentiers lease us the land and sell us the products that we produce in their factories. Oh, and they fix the judicial, the regulatory, the legislative, and the administration so as to foreclose on us, forcing us all to become their renters for life. Nope, not mutualism.
2. Commensalism. There is no apparent benefit or harm to either member of the association. ~ This doesn’t fit either. There’s plenty of harm when the lower and middle class lose their life savings and homes all the while watching their incomes drop and the cost of necessities like health care and food climb skyward, and the rentier class could be described as the causation of every bit of that nasty stuff.
3. Parasitism. The term parasite refers to an organism that grows and feeds upon its host while contributing nothing to the survival of its host. ~ AHA! This explains the relationship perfectly! By leveraging upon our toil and sweat and buying swaps against everything we do in life in the real world, the elite contribute nothing of any value towards life on planet earth. Parasitic pathogens one and all.

So, armed with the biology behind this life threatening scenario, what does a society riddled with parasitic life do with this new found knowledge? Are we doomed to a bloody revolution as Christine feared? No, not presently. There’s another way just prior to that big nasty. And it’s simple really. A peaceful social coup d’état. To keep with the biological reference, we simply foster lifestyles that will cause inducible defenses to kick in. This will cut off the energy flows that are supplying the parasites that are sucking the life force out of the masses. For if you believe anything, believe that none of these agents of destruction can function without our labor and our energies (monies,as well).

How do we achieve this? Spread the word for everyone ever where to immediately stop any and all dealings with Bank of America, Chase, Citi, Wells, Sachs, Morgan Stanley, and any other entity that’s too big to fail or is even remotely menacing looking, you know….ivory towers and brass bulls (sp?) and all. Oh, and vote out the incumbents, no matter the party. They’ve had their free ride and proven themselves totally unworthy of support on both sides of the aisle. Better to start with nothing than to relive the nightmare over and over again.

Don’t think it can happen? Read what the women of Versailles were capable of, under similar circumstances with similar elites:

http://en.wikipedia.org/wiki/The_Women%27s_March_on_Versailles

Whatever happens, don’t buy into to the incessant talk coming from the Paulsons and Geithners and Dimons and Daleys and Summers and Rubins and Fromans and Obama’s of the world, as they’ll do or say anything to maintain privilege and status. Their talk is eerily comforting as if they truly believe what it is they’re saying, yet, it’s all lies. They all share one commonality, a desperate fear of actually having to work for a living shoulder to grind, all the while losing their gated communities and lavish lifestyles. Sure they can push deals that pillage, rape, and take homes by the millions, but that’s the extent of their elaborate dog and pony show.

These same people, only with different names this time around, have been pillaging the masses on a consistent basis for generations. We’ve all simply watched as they’ve helped themselves to the mineral wealth of untold numbers of third world nations. They take the food products. They take the oil, believing that the locals are too stupid to value it as we do, so…. why not take it? We see it now in the military actions of this class to topple world leaders that stand in the way of their goals.

It’s readily apparent in the total lack of news on the backstory as to why so many U.K. youths and Arab citizens are disaffected and resorting to rioting. And we as a planet stand on the verge of an austerity package to be handed to ALL OF HUMANITY! Why? Because the rentier class behind the curtain flat out refuses to lower the interest payments that they believe are due to them on our money that our politicians have borrowed from them, plain and simple.

Only by withdrawing the funding that feeds these freeloading bloodsuckers can we the people return to fair incomes; with ample time spent nurturing our children, living in our own homes, caring for our elders, lending a hand to our neighbors, and stopping more often than not to smell the flowers. Without all that it’s just not worth the trouble.

We will NOT surmount our problems until these rentier capitalists are flushed from the cesspool they’ve created at our expense with our sleepy approval. It’s time to awaken and kick some ass. Otherwise, be content to rent your souls, as they’ll figure out a way to leverage those soon enough as well.

9 Responses

  1. Wait a second! Isn’t is basic real estate law that one cannot legally sell what one does not own? Isn’t that called “Real Estate Fraud”?

    Of all “people”… Doesn’t this legal concept also bind the Federal Government and its Agencies?

    Isn’t this grounds for a massive law suit that is winnable… after all, Fannie and Freddie have “put their plan in writing”!

    Why or Why not can a suit be initiated? Are you saying that our duly appointed AG Holder will not file the case?

    Is it an impeachable offense to encourage others to commit crimes?

  2. …not to mention you’re wrong in saying they “owed” anything at all…

  3. What about the VAST amounts of homeless and jobless and mentally anguished—put in that position by the MASSIVE FRAUD which crashed the economy? They can’t even pay the 1/3 you speak of!!!!!

  4. Hey guys, I think the homes should be offered back to the real, original owners at 1/3 the amount owed at foreclosure. That way all the fraud was just a hick-up on the way to a write down, and the real owner gets a house they can afford. Maybe they would actually write a valid loan doc and perfect a real lien with a real beneficiary… do ya think? Naah…

  5. Diane Jenkins,

    Stop making payments?? Good idea — except — the US Government has no fear — apparently — that entire America – itself – could be foreclosed upon. Headed in that direction.

  6. NO — Fannie/Freddie not claiming to own — someone is falsely using their name. Why?? Because debt buyers feel they only have to name the original creditor — not the current creditor — despite law that states the contrary.

  7. Okay, I have several properties – I would love to stop making the payments to Chase (one I did already and in court with attorney) – doesn’t look good Judge wants “Tender”.

    Can’t we all get together and stop paying our credit cards and mortgages? This would stop them.

    What percentage of homeowners would we need? I am available to fight!

    Diane in Laguna Niguel, California

  8. E.Tolle – Thank you. ND

    ‘FIS’ THE ‘Vendor’ for FREDDIE MAC’S NATIONWIDE NETWOR
    FIS THE Originator (nationwide network controlled and owned by Freddie Mac, Chase, WFC, BOA, GMAC-RFC, Microsoft, FNF, …

    NOW WHAT?
    Renters’ Capitalism next right to receive medical care under federal administration of VENDORS who attach to even medical field.

    MERS ‘Data Record’ Shocker to ones SOUL!
    FIServ Solutions Inc, 1600 International Drive, 2nd Floor, McLean VA 22102

    Significant? Sure. What else will be recorded in MERS that is not recorded in the public domain and can ‘change history’ of residents lives to become homeless, file falsified documents with public offices and courts.

    We thought Obama care was about controlling medical industry. If already ‘integrated’ and already a MERS member they arleady control medical indstury money too.

    DEED OF TRUST ‘WORTHLESS’
    LOOKS LIKE LEGISLATION ON ITS WAY….

    Original note lawfully shredded? Since when can you SHRED Notes ‘bearer paper’ and recreate ad-hoc? and not be held liable for intent of taking possession of personal and real property by deceptive acts?

    MERS MEMBERS ‘destroyed’ original NOTES, created MERS COMMERCIAL National Registry 2003 to track copies, then engaged in CMBS eNote collateral, downhill from July 2003 forward. MERS & eNotes ‘Real’?

    ‘Substitute’ trustees with no personal knowledge attest copies of eNotes real? ad-hoc during lunch break in court depending on which way the wind is blowing.

    http: // www . emergis . com
    MERS MEMBER ORG ID: 1002941
    Lines of Business: VENDOR / SERVICER PROVIDER
    eRegistry Particpant: YES
    eDelivery Participant: YES

    Ignore history you insure one day soon topic will again be a current event.

    Not hard to imagine millions of residents owe money for medical bills. One day, your husband is having chest pains, vomiting, sweating, and you rush to the hospital expecting the federal health care O’bama plans coverage part of the federal and state tax plan benefits to renters.

    HOW? ‘FIS’ controls nationwide network of participants in the harm to the economy control of the real estate industry. Next – Medical Industry.

    Freddies’ VENDOR for all ‘Originator’ transactions and integrated on the cloud with ‘FIServ Solutions Inc.’ Health CLOUD Vendor Division of FIS, demand payment in full before admitting patient into hospital? Could it happen? Read E.Tolle’s excellent capture of ‘history’ and consider impact of ‘federal government’ covering up FREDDIE MAC’s negligence.

    FREDDIE MAC and eFannieMae are ‘indeed’ in the middle of a major upgrade.

    Bridgebank integrates small business community into FIS’s Intgegrated network for ‘entire real estate indusry’

    WHO APPROVED?

    Should residents nationwide check daily status of implementors, integrators, vendors now of both real estate industry and medical industry?

    National Homeownership Rate Continues Decling …

    PRIVATE WEALTH MANAGERS OF FEDERAL RESERVE’S BENEFACTORS’ ‘HOUSE OF ROTHSCHILDS’
    Rockefeller Family
    Include…
    FORBES Billionare List
    Excludes the ‘trillionares’ Rothchilds and Rockefellas I suppose

    TOP 10 Billionares in the World Rated by FORBES
    #1 Carlos Slim Helu & Family (telecom)
    #2 BILL GATES (Microsoft)
    #3 Warren Buffett (under Bill Gates by $6 Billion) Berkshire Hataway
    #4 Bernard Arnault (LVMH)
    #5 Larry Ellison (Oracle)
    #5 Lakshmi Mittal (Steel)
    #7 Amancio Ortega (Zara)
    #8 Eike Batista (mining, oil)
    #9 Mukesh Ambani (petrochemicals, oil & ga)
    #10 Chrisy Walton & Family (Walmart)
    #11 Li Ka-shing (Hong Kong diversified)
    #12 Karl Albrecht (Aldi Germany)
    #13 Stefan Persson (H&M Sweden)
    #14 Vladimir Lisin (Steel Russia)
    #15 Liliane Bettencourt (L’Oreal)
    #16 Sheldon Adelson (casinos US)
    #17 David Thomson & Family (media Canada)

    Controversial process of creating a new program which FREDDIE MAC and eFANNIEMAE gearing up for March 2012 related to Uniform Collateral Documents (PDF of Appraisals and Loan Docs) related to ‘mortgage collater’ and ‘remitters’ and sliced and diced REO or bank real estate owned properties of WFC, Chase, BOA Freddie and Fannies PROPERTIES which remain unsold.

    Controversial process that will not begin until well into 2012 at the earliest.

    RFI itself suggests that the main objective is to reduce losses for government and the taxpayer. YET RFI is focused only on large portfolio transactions—at least $50 million for sales and up to $1 billion for joint ventures;

    large bulk transfers to profit-oriented investor; given the costs of running large portfolios at a profit. It is not clear then how such transfers would reduce average loan losses relative to individual sales.

    RFIs concerns indicator of a coming shift in U.S. housing markets. Several major homebuilders are beginning to rent portfolios of homes as a new business line. Implications of such a shift, if it does occur, likely will be quite far reaching.

    Past Wednesday, the Federal Housing Finance Agency, the U.S. Department of Housing and Urban Development (HUD), and the Treasury sent out a joint Request for Information (RFI) on ways the government might rent out the 250,000 homes that Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) currently own. The government appears to be looking for a practical way to manage a growing inventory of homes it owns (REO) that it has been trying to sell into a falling market with limited success, along with ways of “maximizing [the] value to taxpayers” of this inventory, as the accompanying press release states.

    This is clearly an acknowledgment that the administration expects the inventory of REO by Fannie, Freddie, and the FHA to continue growing. In fact, there are another 850,000 homes in some stage of foreclosure with these agencies that will eventually wind up in this pool. Beyond that, there are another 3 million homes in default now around the country, most of which will eventually be foreclosed despite loan modification programs, and many of which will wind up with Fannie, Freddie, or the FHA.

    Adminsitration preparing for control of data too because they will be renting large portfolios of REO PROPERTIES UNDER CRA governed by OCC for FREDDIE and FANNIE….

    The RFI lists six objectives that responses to the RFI should seek to achieve:

    •Decrease the REO inventory “in a cost-effective manner”;

    •Reduce average loan losses relative to individual REO sales;

    •Address the need to repair and rehabilitate these often deteriorated properties;

    •Respond to local market conditions;

    •Assist efforts to stabilize neighborhoods and home prices; and

    •Suggest ways to analyze how to best dispose of individual homes, whether by selling or renting them or tearing them down.

    Nancy Drewe, on August 14, 2011 at 2:51 pm said:
    Federal Reserve and Data Centers Consolidating, Booming
    8/10/2011
    Join ULI to read full article

    On July 20—the same day the federal government announced its plans to close 40 percent of its data centers—panelists at a “Data Center Boom” event agreed that new data center development is booming. Read how the rapid shift to virtualization technology and cloud computing is spurring the government’s data center consolidation while also driving demand for new data centers and storage facilities

  9. EDITOR’S COMMENT: THEY JUST DON’T WANT TO GET IT, DO THEY?
    Neil , you know as well as I THEY ABOSOFrigINLUTY get it.
    they dont care- they get paid just the same ,the criminal cirkus show must go on…they have the grand illusion to perpetuate !

Leave a Reply

%d bloggers like this: