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BY DARRELL BLOMBERG

Consent Orders

PRESS RELEASE

OCC Takes Enforcement Action Against Eight Servicers for Unsafe and Unsound Foreclosure Practices

http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47a.pdf

SUMMARY of FINDINGS

Interagency Review of Foreclosure Policies and Practices

(Federal Reserve System, Office of the Comptroller of the Currency, Office of Thrift Supervision)

http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47a.pdf

SERVICERS

Bank of America

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47b.pdf

Citibank

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47c.pdf

HSBC Bank

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47d.pdf

JP Morgan Chase Bank, N.A.

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47e.pdf

MetLife Bank, N.A.

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47g.pdf

PNC Bank, N.A.

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47i.pdf

U.S. Bank National Association, U.S. Bank National Association ND

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47j.pdf

Wells Fargo Bank, N.A.

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47k.pdf

DEFAULT MANAGEMENT SERVICE PROVIDERS

LPS; DocX, LLC; and LPD Default Solutions, Inc.

http://www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47f.pdf

MERSCORP, Inc. and the Mortgage Electronic Registration Systems, Inc.,

www.occ.gov/news-issuances/news-releases/2011/nr-occ-2011-47h.pdf

INTER-AGENCY REVIEW

Intent:

“ensure safe and sound mortgage-servicing and foreclosure-processing business practices are implemented”

Scope:

“The reviews focused on issues related to foreclosure-processing functions.”

“The reviews did not include a complete analysis of the payment history of each loan prior to foreclosure or potential mortgage-servicing issues outside of the foreclosure process.”

Review:

Policies and procedures

Organizational structure and staffing

Management of third-party service providers

Quality control and internal audits

Compliance with applicable laws

Loss mitigation

Critical documents

Risk management

Findings:

“unsafe and unsound practices and violations of applicable federal and state law and requirements”

weaknesses in:

foreclosure governance processes

inadequate policies, procedures, and independent control

inadequate monitoring and controls over

external law firms

other third-party vendors

lack of sufficient audit trails for affidavits

(amount of indebtedness, fees, penalties, etc.)

not linked to internal records at the time the affidavits were executed

inadequate quality control and audit reviews

lack of compliance with

legal requirements

policies

procedures

maintenance of sound operating environments

inadequate identification of

financial risks

reputational risks

legal risks

organizational structure and availability of staffing

inadequate staffing to address the increased volumes of foreclosures

affidavit and notarization practices

documents not personally check for accuracy

signer did not possess

level of knowledge of the information they attested to

no oath was administered

failure to comply with state notary laws

excess fees charged

foreclosure document preparation processes

excess filing of lost note affidavits

third-party vendors & foreclosure attorneys

no oversight or monitoring by servicer

too many assumptions of compliance

CONSENT ORDER – ISSUES OF NON-COMPLIANCE

SERVICERS

(a) filed or caused to be filed in state and federal courts affidavits executed by its employees or employees of third-party service providers making various assertions, such as ownership of the mortgage note and mortgage, the amount of the principal and interest due, and the fees and expenses chargeable to the borrower, in which the affiant represented that the assertions in the affidavit were made based on personal knowledge or based on a review by the affiant of the relevant books and records, when, in many cases, they were not based on such personal knowledge or review of the relevant books and records;

(b) filed or caused to be filed in state and federal courts, or in local land records offices, numerous affidavits or other mortgage-related documents that were not properly notarized, including those not signed or affirmed in the presence of a notary;

*(c) litigated foreclosure proceedings and initiated non-judicial foreclosure proceedings without always ensuring that either the promissory note or the mortgage document were properly endorsed or assigned and, if necessary, in the possession of the appropriate party at the appropriate time;

*(d) failed to devote sufficient financial, staffing and managerial resources to ensure proper administration of its foreclosure processes;

(e) failed to devote to its foreclosure processes adequate oversight, internal controls, policies, and procedures, compliance risk management, internal audit, third party management, and training; and

(f) failed to sufficiently oversee outside counsel and other third-party providers handling foreclosure-related services

MERS and MERSCORP:

(a) have failed to exercise appropriate oversight, management supervision and corporate governance, and have failed to devote adequate financial, staffing, training, and legal resources to ensure proper administration and delivery of services to Examined Members; and

(b) have failed to establish and maintain adequate internal controls, policies, and procedures, compliance risk management, and internal audit and reporting requirements with respect to the administration and delivery of services to Examined Members.

LPS; DocX, LLC; and LPD Default Solutions, Inc.

(a) Executed numerous affidavits and similar sworn statements (collectively, “Affidavits”) making various assertions, such as the ownership of the mortgage note and mortgage (or deed of trust), the amount of principal and interest due, and the fees and expenses chargeable to the borrower, in which the affiant represented that the assertions in the Affidavit were made based on personal knowledge or based on a review by the affiant of the relevant books and records, when, in many cases, they were not based on such knowledge or review.  LPS executed these Affidavits on behalf of Examined Servicers knowing they would be filed in state courts and in connection with bankruptcy proceedings in federal courts;

(b) Executed assignments of mortgages containing inaccurate information pertaining to matters including the identity and location of the assignee and beneficiary and the effective date of the assignment. LPS recorded or caused to be recorded these assignments of mortgages in local land record offices, or executed them on behalf of Examined Servicers knowing they would be filed in state courts or in connection with bankruptcy proceedings in federal courts;

(c) Executed Affidavits, assignments of mortgages, and other mortgage-related documents (collectively, “Mortgage Documents”) on behalf of Examined Servicers without authority to execute the Mortgage Documents, specifically without having been duly appointed as an agent or officer of the Examined Servicers to execute documents on behalf of the Examined Servicers;

(d) Recorded or caused to be recorded in local land records offices numerous Mortgage Documents that were not properly notarized, including those not signed or affirmed in the presence of a notary, or knew that such Mortgage Documents would be filed in state and federal courts;

(e) Failed to respond in a sufficient and timely manner to the increased level of foreclosures by increasing financial, staffing, and managerial resources to ensure that LPS adequately handled the document execution services that LPS provided to Examined Servicers; and

(f) Failed to have adequate internal controls, policies and procedures, compliance, risk management, internal audit, and oversight of the document execution services that LPS provided to Examined Servicers

Filing an OCC Complaint

Check to make sure that your financial institution is a National Bank.

http://www.ffiec.gov/consumercenter/default.aspx

Filing a Bank Complaint – Overview

http://www.helpwithmybank.gov/complaints/index-file-a-bank-complaint.html

Online Customer Complaint Form

https://appsec.helpwithmybank.gov/olcc_form/

Print copy (pdf)

http://www.helpwithmybank.gov/complaints/form-pdf/Thrift%20Revisions%20Complaint%20Form%20Master%20revised%2007-25-11.pdf

Customer Assistance Group, 1-800-613-6743

 

15 Responses

  1. Nancy Drewe ,

    Early 2007 Option-One (originator) , Option One Mortgage Acceptance (depositor) , funding came through acct at Mellon of Pittsburgh (read Federal Reserve Bank) ,acct was table funded via Bank of America’s credit line (per anonymous and AIG’s investigation/discovery against BAC) , WF plays role of “trustee” , O-One was “servicer” , handed off to AHMSI as new “servicer” ..

    Loan was a refi of “National City” new money loan from 1998, home bought was a foreclosure in FNM REO status, National City is now defunct , first payment to O-One was set for 90 days after close (??) was this to pull loan away from FRE/FNM?

    Looks like no loan ,, just added $$$ to collections amount and sold collection rights..

    Am I seeing this right? ,, Comments?

  2. Maybe you don’t understand the point of the cut/pasting of the original 11 bank credit facility who started this mess connecting Lawyers Title Corporation, LandAmerica, Commonwealth, TD Financial Services, etc.

    In good faith, I’ll continue sharing good information. I’m a researcher not a blogger. I’m a consumer harmed finding loopholes that harmed the economy transaction by transaction. What are you doing in good faith? Anyone who is a consumer not a blogger who understand and wants to be the ghost writer fine meanwhile I’m not seeing in the bulic domain the information I’m sharing that is important to how the economy harmed by money laundering a crime against the nation collective acts intentional collaboration, collusion methodical movement of cash right out of the nation c/o Mortgage Servicers affilaites of national banks. Thank you Office of the Comptroller of the Currency Hawke, Duggan, and who is the new guy? .

    You need an attorney who knows the law. How are you going to know if you have a good attorney? How will you ask educated questions if the attorney has fiduciary interests of others ?

    RED FLAG, attorney who promises you a loan modification connected to REO Lender’s reo broker, lender, dealer agaent affilaite beneficiary of the subservicer, robo-mill default lenders ?

    RED FLAG attorney who says you don’t have to pay anything upfront.

    Foreclosure was scary until Foreclosuregate. What is scary now is what Congress and the President, has not done about the OCC and CFPA c/o Federal Reserve.

    What you don’t understand will hurt you.

    We all proved that we are stupid people who signed stupid contracts. The Court will say a prudent buyer beware.

    Obligor (Seller of loan) on your behalf signed mortgage backed note separating at time of ‘purchase’ of financial product the note from the debt. The Servicer c/o Purchaser sold back servicing rights takes possession of pledged asset cash of promissory note borrower co-signed.

    The Tempory Lender recorded as the only document ‘Mortgage/Deed of Trust’ proves we did not understand that the ‘TRUST’ Cash paid by Purchaser separated the Note and DEED at time of purchase of ‘mortgage’ a financial product placed into public domain.

    Alert all you whippersnappers signing the same documents today, ask for access to all of the related governing agreements between Seller and Purchaser, Obligor, Beneficiary, etc.which were intentionally witheld by the Obligor from all who come before you. Make an educated decision that its ok your property deed and note are separated..

    The Obligor has the OBLIGATION to pay all principal and interest payments on a debt. We are the debtor c/o Obligor who allowed affilaites as third parties to Sell Loans purchased by …

    Because you did not seek a copy of the Obligor’s contract and Agreements Sale & Serive Agrement, Loan Purchase Agreement, etc., and now don’t care to review agreements available on the public domain SECINFO . Com, and FFIEC . GOV Federal Reserve System reveals how the money moves to/from Parent Chase Manhattan Corporation 1998, 1998 with entity – data processing servicer is the Federal Reserve System Classification – Mortgage Electronic Registration Systems, Inc. (MERS). and all MERS Members then by default c/o FREDDIE MAC shareowner are ‘affiliates’ of national banks Mortgage Servicers (Norwest Mortgage, inc, Americas Servicing Co, Premier Asset Services, Wells Fargo Home MOrtgage, Chase Home Lending, GMAC Mortgage Corp of IA, ….
    You don’t understand what I’m taling about. Sorry. Call be happy to help you understand what you don’t know that is harming you, your famaily, friends, neighbors, your municipality, your state and nation.

    Keep complaining that you don’t understand. I won’t give up.
    I don’t wany anyone to roll over and lose their home through ignorance for if you do you are part of the problem and allowing the perpetrators to continue harm the economy one mortgage at a time. ITts bad enough both Houses of Congress, The OCC, The Federal Reserve, 12 Federal Home Mortgage Loan Corporations, FHA, HUD, and they pulled over federal taxes from you for the Consumer Financial Protection Agency who all protect government interest of only GINNEMAE guaranteed loans and self interests of all private wealth institutional bankers and institutional investors. Do you think the FEDERAL RESERVE is the ‘Central Bank’? Nope sorry its not. Do you thing the FHMA lawsutis protect non-conforming loans NOPE does not.

    In default, you do not lay down like a dog because your scared.
    You don’t have to listen to some REO broker quick move into an apartment
    Does the party standing before the court Plaintiff have the right as note holder in due course to take the property. That is all a foreclosure is.due to default (hardship) (loss of job) (sickness) (divorce) all the top 5 stressors in life. My intentions as a consumer harmed to help reveal the loopholes which harmed our economy.

    The Agreements governing your mortgage did not start and stop the day you signed the mortgage promissory note.

    By the way the Temporay Lender aka Seller of the Loan already authorized the loan and ordered the cash from a purchaser before you signed the promissory note. WHich means legally the loans was already signed and you are a what co-signor?

    The harm to the economy methodical c/o money laundering. Corportions are perpetual entities, whose assets include, contracts, agreements, registration statements, T-1 Indenture, Trusts, etc., assets as receivables think of it like if you die and had money a house a busienss a car, another house, another buisness. How would the estate be assigned a value? The business a value? That may help you understand the one loan combined with all loans 2003-2008 which harmed the economy by laundering cash right under the noses of each federal regulatory agency c/o OCC.

    2. Seller is sole owner of Loan
    Seller has authority to Sell, transfer and assign the same …(see manual not attached)
    Seller attests there has been no Assignment, sale or hypothecation thereof by Seller
    except the usual hypothecation of the documents in connection with Seller’s normal banking transactions in the conduct of its business.

    Hypothecation new word: (for me)

    What Does Hypothecation Mean?
    When a person pledges a mortgage as collateral for a loan, it refers to the right that a banker has to liquidate goods if you fail to service a loan.

    The term also applies to securities in a margin account used as collateral for money loaned from a brokerage.

    You are said to “hypothecate” the mortgage when you pledge it as collateral for a loan

    New Word: Rehypothecation:
    When a broker pledges hypothecated client owned securities in a margin account to secure a bank loan. Rehypothecation also known as a margin loan. Related terms (Banking, Brokers, Pledged Asset, Hypothecation.

    Pledged Asset

    What Does Pledged Asset Mean?
    An asset that is transferred to a lender for the purpose of securing debt.

    The lender of the debt maintains possession of the pledged asset, but does not have ownership unless default occurs.

    A pledged asset is returned to the borrower when all conditions of the debt have be satisfied.

    Home buyers can sometimes pledge assets, such as securities, to lending institutions in order to reduce the necessary down payment. Thus, these securities would not have to be sold in order to meet the down-payment requirements, allowing for any capital appreciation while maintaining the associate mortgage benefits.

    Related terms Capital appreciation; Collateral; Default; Hypothecation, Loan, Mortgage, Rehypothecation …
    Bonds, Fixed Income, Personal Finance

    WHAT ABOUT ‘Sub-Sovereign Obligation – SSO”
    What Does Sub-Sovereign Obligation – SSO Mean?

    A form of debt obligation issued by hierarchical tiers below the ultimate governing body of a nation, country, or territory. This form of debt comes from bond issues and is issued by states, provinces, cities or towns in order to fund municipal and local projects.

    Also referred to as a “municipal (muni) debt obligation”.

    This form of debt obligation is commonly created by municipalities in order to meet funding requirements. Issuing bodies are responsible for their own debt issues, which can carry significant risk depending on the financial health of the municipality.

    WHAT ABOUT ALL THOSE ‘NIMS’ IN REMIS? Hmmm. Relate back to the ‘cash’ taken out of ‘TRUST’ custody of a pension fund or municipality, c/o Non-Deposit Trust Company Non-Member ‘cash’ purchaser ordered by ‘seller’ originator deposits ‘cash’ c/o depositor individual bank closing agent, …for a new Loan.
    If existing loan is placed in default and not really paid off (during a refinance) there are a lot of ifs, but the loan can be placed in forced default over 90-120 days and repurchased depending upon ‘agreements. What does your agreement say? Read a simple one from 9/24/1998 re Countrywide Purchaser and E-Loans Seller (Originator). Google Purchase.
    A debt collector robo-firm c/o subservicer instructed by Servicer c/o Investors/Owner of ‘mortgage note’ Pleged Asset

    Trying to take your property. How? What in writing gives them the right to attach the debt to the Pledged Asset?
    Master Servicer ‘agreeded’ in REMIC SERVICER who purchased servicign rights was in control after 90 days.

    A 90 day default common for REMICS, there are other defaults that can occur between buisness entities seller and purchaser.

    If mortgage affixed a MIN# that affiliate of a national bank’s Mortgage Servicer did not register transactions at RETAIL with County Clerk/Recorder because the ASSIGNMENT/Mortgage Promissory Note borrower signed with Temporay Lender is the Assignment, statutory taxes paid by borrower for credit line increase in a documented called a mortgage promissory note like an amendment to the exisint mortgage if a refiance – a loan modiifcation.

    MERS MEMBERS by default are automaticfally affiliates of a National Bank’s Mortgage Servicer. Keep in mind the OCC since 2003 has protected all MERS MEMBERS c/o Federal Reserve private wealth managers who assigned visitorial powers c/o Supremacy Clause trump State Attorney Generals trying to enfoce laws can’t secure evidence related to any transactions ‘cash’ attached to ‘Mortgage Servicers affilaites of national banks. Chase Bank NA all MERS MEMBERS affiliates of natioanl banks Chase, Wells Fargo BanK NA, GMAC Bank c/o NASCOR dba Wells FArgo Asset Securities Corp. That is one joint venture governing loan originated c/o affiliates of these banks may do business in the names of these banks and the depositor ‘Wells Fargo Asset Securities Corp’….

    Every rolling 12 month period, the ‘debt’ serviced, the servicer posts asset ‘receivables’ for 12 months…

    Select Servicers maintain huge portfolios of many loans.
    The servicer may have made an agreement to pay the P&I pending sale of REO property c/o subservicer for example GMAC Mortgage Corporation who will advance funding as a Tempoary Lender c/o REO Lender of Premier Asset Services affilaite – who is that? an affiliate of a Mortgage Servicer of a national bank, Welsl Fargo Bank NA. Hmmm.

    You need to understand what was once illegible to me the agreements and decphier the relationship to secure evidence and to figure out if documents you have are accuate business statements you can pursue through the courts seeking disclosure of the agreements that govern the transactions.

    if you want ‘evidence’ there is NO one answer fits all.

    You each have a ‘Loan’ 0123456789 that went through an ‘origination’

    During that origiantion, a purchaser and seller’ depending upon the governing agreement, exchanged cash. The written agreements provide the ‘agency’ authority. Look for your evidence. Look for loopholes. Find ‘evidence’ or you’ll lose.

    Go back — go back — go back and find the original agreements.

    1998 is a good place to start, when the integrated networks in place for Origiantions already existed and operating, over the CLOUD, portals connecting bank closing agents, title and settlement agents, MERS Members, TD Servicers, First America, Fideltiy, DocX, LPS, LSI, eLynx, etc., and all of the robo-firms in agreement with all the sub-servicers, servicers, ….

    Example: Lawyers Title Services bank closing agents, title agenies, virtual notary services c/o title and settlemetn agencies, etc.

    Select a simple one where you don’t have any paradigmns and read and you’ll understand better. Your preconceived ideas divert and hide the truth.

    MERS exists c/o Chase Manhttan Corp as Parent of Mortgage Electronic Systems, Inc. Yes you read correct. What does that mean? The ‘joint venture’ between FREDDIE MAC, Chase, WFC, GMAC (private). The dollars ‘income’ flowed to Chase c/o Mortgage Electronic Registration Systems, Inc.

    All MERS MEMBERS by default ‘affiliates’ of national banks, federal associations, federal savings banks…..by 3/13/2000 when Financial Holding Companies now parent money flows through Federal Reserve System in light of day between ‘Real Estate Industry’, ‘Insurance Industry’ and ‘Banking Industry’.

    Google Purchase Loan Agreement
    Select
    Example:
    Loan Purchase Agreement
    Countrywide Home Loans Inc.
    E-Loans Inc.
    9/24/1998

    ‘LOAN PURCHASE AGREEMENT’
    9/25/1998
    COUNTRYWIDE HOME LOANS, INC, A NY CORPORATION AS ‘PURCHASER’ OF LOANS FROM E-LOANS ‘Seller’ Originator

    E-LOAN, INC. A CALIFORNIA CORPORATION ‘SELLER’ OF LOANS

    COUNTRYWIDE AGREES TO PURCHASE LOANS SECURED BY REAL PROPERTY WITH SERVICING OF THE LOANS FROM ‘SELLER’ E-LOANS

    COUNTRYWIDE CORRESPONDENT LENDING DIVISION LOAN PURCHASE PROGRAM

    PARTIES AGREE:Seller & Purchaser

    “Related terms’ Collateral, Loan, Mortgage, Pledged Asset, Rehypothecation …

    1. ELIGIBLE LOANS SELLER MUST BE APPROVED QUALIFIED AND/OR LICENSED TO ORIGINATE SUCH LOANS – so we can assume E-Loans has affiliates who are qualifed in all 50 states.

    -Loans sold include
    Conforming Conventional (GINNE MAE), Jumbo…not guaranteed by Ginne Mae,, Second Mortgage Loan Program (what is that resale of purcahsed loans after 120 days?), etc. Each defined with a unique set of rules.

    GinneMae the only government guaranteed loans regulations govern conforming loanos conforming loans, and all non-conforming loans are considered Alt-A Loans (1) missing GSE requirement (no income verification). How do you know if your loan was conforming or not? Ask? Secure discover and find LPS ‘Non-Conforming’ printed on reports.

    Whether conforming or non-conforming all of the loans from Sellter will be purchased by purchaser Countrywide in accordance with this Loan Purchase Agreement, and manual not attached herewith, that you get only if you are an affiliate, member, subscriber, vendors, servicer, whatever.

    Have you read your agreements that govern the loan you signed as borrower? It was signed before you signed by the Seller who issued the insurance c/o Temporay Lender, the commitment to issue cash or accept cash, insurance for the event of a default. A default in some agreements may be the interest and late payment fee’ after 90 days if not paid places the loan in forced default. You know how they sent back checks for partial payments the servicer refused to take anything but the total amount owned? Why not take some? Because once 90 days in default, the loanos may be resold and repurchased.

    Do you know what the Seller is responsible for? Look at a real agreement and look up the vernacular you don’t understand don’t apply what you think the work ‘lender’ and ‘temporary lender’ mean. And Pretender Lender is not a financial term. Temporary lender is a financial business entity role of some business entity who makes money in 3 different ways. Does not mean all Temporay Lenders do all that.

    Countrywide Purchaser of Loans and E-Loans the Seller agree

    1. Seller shall fully underwrite each Loan (prior to submission to Countrywide)

    9/24/1998 Loan Purchase Agreement refers to ‘must use’ if avaialble’ a Countrywide-approved automated-underwriting system for underwriting the loan.

    2. Commitment to Purchase Loaons
    Seller may commit to sell a Loan to purchaser Countrywide (refer to manual we don’t have)

    Countrywide will confirm conditions of sale of Loan to Countrywide, deliver confirmation Commitment to Seller, set for terms of transaction, Countrise ‘purchaser’ will pay for each Loan (refer to manual affects Purchase Price).

    Terms of Commitment
    Including Purchase Price Effective Period
    Seller is approved by Countrywide to sell Loanos to Country wide on a bulk sale basis …
    Countrywide and ‘Seller’ E-Loans shall execute Addendum to ‘Loan Purchase Agreement (BULK SALES) which will be attached and incorporated into this Agreement by reference (not attached).

    Countrywide has right (BUT NOT OBLIGATION) to underwrite any Loan submitted for purchase

    Seller’s repurchase obligations under Section 9 hereof… 270 days later…

    Seller delivers to Countrwide appraisal of real estate security for each Loan
    Appraisal signed by a qualified appraiser (see manual not attached) prior to Countrywides approval to purchase loan.

    4. Delivery of Loan Documents

    When is a loan deemed ‘delivered’ to Countrywide

    A) if it is received by Countrywide within the Commitment Period

    B) if Loan in compliance with Delivery of Closed Loans and Funding Documentation (see manual not attached)

    C) Loan has no outstanding conditions that prevent Countrywide from FUNDING purchase. Example: failure to deliver within 120 days of Loan purchased (forward sold) any of the required documentation Countrywide Assessment fee of $50 per month after initial 120 day grace period. $50 if 1 or more documents.
    Failure to deliver to Countrywide one or more of the original documents specified in Delivery of Closed Loans (see manual not attached) within 270 days from date the Loan was purchased by Countrywide shall obligate SELLER to repurchase Loan pursurant to Section 7 of this Agreement.

    5. Payment of Purchase Price and Seller’s Wire Instructions
    Countrywide Purchaser shall after receipt of loan documentation package TILA – HUD etc., deliver the Purchase Price (less any fees or discounts due to Countrwide)

    Commitment to Seller
    Seller’s wire instructions ‘Order Cash for Loanj0123456789;’ or in accordance with any bailee letter or trust receipt submittted with the Loan 01234567890 (all as determined in the ‘sole’ and ‘abosolute’ discretion of Countrywide.

    6. Sellers Obligations, Representations & Warranties
    Seller prepresents and warrrants each Loan offered for sale (purchase by Countrywide)

    1 Loan documents duly executed by trustor/mortgagor
    Loan documents acknowledged and recorded;

    each Loan is valid
    Each Loan complies with all cirterial (see manual not attached)
    Note and Deed of Trust/Mortgage constitute4 entire Agreement between trustor/mortgagor and the beneficiary/mortgagee

    There is no verbal understanding or written modification which would affect terms of note or deed of trust/mortgage

    except by written instrument delivered

    and expressly made known to the beneficiary/mortgagee and recorded if recording is necessary to protect interests of beneficiary/mortgagee.

    2. Seller is sole owner of Loan
    Seller has authority to Sell, transfer and assign the same …(see manual not attached)
    Seller attests there has been no Assignment, sale or hypothecation thereof by Seller
    except the usual hypothecation of the documents in connection with Seller’s normal banking transactions in the conduct of its business.

    Hypothecation new word: (for me)

    What Does Hypothecation Mean?
    When a person pledges a mortgage as collateral for a loan, it refers to the right that a banker has to liquidate goods if you fail to service a loan.

    The term also applies to securities in a margin account used as collateral for money loaned from a brokerage.

    You are said to “hypothecate” the mortgage when you pledge it as collateral for a loan

    New Word: Rehypothecation:
    When a broker pledges hypothecated client owned securities in a margin account to secure a bank loan. Rehypothecation also known as a margin loan. Related terms (Banking, Brokers, Pledged Asset, Hypothecation.

    Pledged Asset

    What Does Pledged Asset Mean?
    An asset that is transferred to a lender for the purpose of securing debt.

    The lender of the debt maintains possession of the pledged asset, but does not have ownership unless default occurs.

    A pledged asset is returned to the borrower when all conditions of the debt have be satisfied.

    Home buyers can sometimes pledge assets, such as securities, to lending institutions in order to reduce the necessary down payment. Thus, these securities would not have to be sold in order to meet the down-payment requirements, allowing for any capital appreciation while maintaining the associate mortgage benefits.

    Related terms Capital appreciation; Collateral; Default; Hypothecation, Loan, Mortgage, Rehypothecation …
    Bonds, Fixed Income, Personal Finance

    There are 2 defaults going on at the same time with Countrywide

    Simple explanation provided by Investopedia

    What Does Default Mean?
    1. The failure to promptly pay interest or principal when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment. Borrowers may default when they are unable to make the required payment or are unwilling to honor the debt.

    2. The failure to perform on a futures contract as required by an exchange. Investopedia explains Default

    1. Defaulting on a debt obligation can place a company or individual in financial trouble. The lender will see a default as a sign that the borrower is not likely to make future payments. For example, if Company XYZ is unable to make a coupon payment on its bonds, the bondholders would place XYZ in bankruptcy. This would give the company an opportunity to claim XYZ’s assets as a form of repayment for the debt.

    2. Defaulting on a futures contract occurs when one party does not fulfill the obligations set forth by the agreement. The default usually involves not settling the contract by the required date. A person in the short position will default if he or she fails to deliver the goods at the end of the contract. The long position defaults when payment is not provided by the settlement date.

    Filed Under: Bonds, Derivatives, Fixed Income, Futures, Personal FinanceRelated Terms
    Bad Debt Reserve
    Collection Agency
    Cross Default
    Debenture Redemption Reserve
    Default Risk
    Leveraged Loan
    Non-Performing Loan
    Principal
    Redlining
    Whoops (nuclear plant largest bond default 1980s’)

  3. The homeowners/borrowers had better continue to squeak really loudly in order not to be left at the bottom of the pile. They know we don’t have money to resist, but do it anyway.

  4. mayre you don’t understand corporations perpetual during windup -T-1,S-3, S-3/A ASSETS

    JUST LIKE 12 MONTHS OF DEBT ASSETS

  5. Do you think Neil would post facts which are cut/pasted if he did not think they were valuable – significant – worth merit of thinkers to what take your property – worthy of merit to who his readers? his good name on the line not mine

    Think. Synthesize. Take 3 unrelated subjects Loan, Seller and Purchaser and think who is the party before the Court without Standing.

  6. but for you consuemrs as borrowers and attorney’s who don’t give a hoot – are allowing them to buffalow you as they shuffle off repurchases and resales of your propertt while your watching with your mouth handing open catching flies saying but but but but but henceforth think, why would I waste valuable time posting for your benefit information that you need to say ok – I’ll find the similar information on my loan and if you don’t know how you can find someone who does know. I’ll as a consumer point you in the right direction of who, what, when, where, why, how, but only an attorney who understands law will be able to protect you, perhaps from yourselves if your not growing and learning what they did to harm you how are you going to protect your property? Your family? Your friends, Your neighbors, residents, as citizens who vote you better be paying attention because those House of Representatives and Senators created this mess – are you going to vote them in again sure they know what’s going on this time?

  7. Carrie you don’t understand yet the “Significance” of ‘Marine Midland TRUST Company in New York, & joint ventures with Wells Fargo Bank Co c/o Marine Midland TRUST and 1996 first US Trade Bank ‘Wells Fargo HSBC Trade Bank NA, by the way a national banking association, who merged with ‘Norwest Asset Securities Corp’ NASCOR joint venture throght which ‘Seller of Loans DEPOSITOR for Chase, Welsl FArgo, GMAC would be ‘NASCOR’ dba Wells Fargo Asset Securities Corp ‘SELLER’ of Loans c/o Temporary Lenders who signed the mortgage backed note (accepted cash) from Purchaser in a SALE & SERVICING AGREEMENT through which the ‘Depositor’ any of the related Registrants affiliates over SEC will record REMICS.

  8. Information legible if you know how to synthesize into transactions which harmed you. You really should be paying more attention if you are trying to protect yourself and/or your clients.

  9. Engraged silly – FHMA is Federal Agency 2008 – I can’t give you my opinion I’m a consumer. I can post public information, important public information your brain is not trained to synthesize into how the FHMA 2008 represents FEDERAL RESERVE c/o OCC will prevent discovery of evidence all proprieatry all transactions related back to affiliates of Mortgage Servicers national banks. OPPS by the way all cash moved since Patriot Act attached to ‘mortgage loans’ c/o affiliates of Mortgage Servicers laundered between ‘TRUST’ custodian ‘Purchaser’ of Loan and ‘Depositor’ c/o Temporay Lender ‘Seller’ of loan. WHo oh by the way signed the loan for you as borrower you were cosignor the (1) signature on the promissory note promising to pay any Nominee Assigns and Successors.
    Understand that?

  10. exactly!!! what happened to “keep it simple, stupid?” KISS…

  11. Once again, lots of illegible information of no use to anyone but… Nancy Drew!

  12. Wells Fargo & Co – Marine Midland – HSBC Bank USA – Republic Bank, HSBC & JP Morgan US Dollar Clearing Business After the acquisition of Republic National Bank in 1999, the head office of HSBC Bank USA moved from One HSBC Center in Buffalo to 452 Fifth Avenue, New York City, although the official headquarters are in Wilmington, Delaware. HSBC Direct is HSBC’s attempt to compete nationally with other Internet banks such as Citibank Direct, Emigrant Direct, GMAC Bank, ING Direct.

    In 2004 HSBC USA sold two New York state branches to City National Bank. HSBC did not have enough nearby branches to give it economies of scale. On July 31, 2011, First Niagara Financial Group, headquartered in Buffalo, announced that they had bought all of HSBC’s upstate New York branches for $1 billion

    The Hongkong and Shanghai Banking Corporation acquired a 51% shareholding in Marine Midland Bank of New York State, headquartered in Buffalo, New York in 1980 and extended to full ownership in 1987. The banks continued to operate under the Marine Midland name until 1998, when the branch offices were rebranded as HSBC Bank USA in line with the worldwide corporate identity of HSBC.

    In 1994, Marine Midland acquired Spectrum Home Mortgage, which operated in eight states. Then in 1995, Marine acquired United Northern Federal Savings Bank, with branches in Watertown and Lowville, New York.

    Marine Midland also acquired The Hongkong and Shanghai Banking Corporation’s six New York City retail branches, and the next year Hang Seng Bank’s two branches in New York City.

    That same year, Marine Midland acquired 11 branches from the East River Savings Bank in the New York Metropolitan area.

    Marine also acquired the US dollar clearing business of JPMorgan.

    At the same time, HSBC transferred two branches in the northwestern United States to HSBC Bank Canada. The next year, Marine completed its acquisition of First Federal Savings and Loan from Toronto-based CT Financial Services, for $620 million. First Federal Savings, headquartered in Rochester), had $7.2 billion in assets, 1,600 employees, 79 retail branches in New York State and 15 mortgage origination offices in nine states.

    HSBC Bank USA, National Association, the American subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in New York City and its nominal head office in McLean, Virginia (as designated on its charter). HSBC Bank USA, N.A. is a national bank chartered under the National Bank Act, which means that it is regulated by the Office of the Comptroller of the Currency (OCC), a part of the U.S. Department of the Treasury.

    T-1 Wells Fargo & Company and Marine Midland
    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549
    ———-

    WFC Holdings Corp, et al. · S-3/A · On 12/4/96 · EX-25.(I)
    FORM T-1
    STATEMENT OF ELIGIBILITY UNDER THE TRUST
    INDENTURE ACT OF 1939 OF A CORPORATION
    DESIGNATED TO ACT AS TRUSTEE
    ———–
    CHECK IF AN APPLICATION TO DETERMINE
    ELIGIBILITY OF A TRUSTEE PURSUANT TO
    SECTION 305(b)(2)
    ———–
    MARINE MIDLAND BANK
    (Exact name of trustee as specified in its charter)

    New York 16-1057879
    140 Broadway, New York, N.Y. 10005-1180
    (212) 658-1000 (Zip Code)

    Eric Parets
    Senior Vice President
    Marine Midland Bank
    140 Broadway
    New York, New York 10005-1180
    Tel: (212) 658-6560
    (Agent for Service)

    WELLS FARGO & COMPANY
    (Exact name of obligor as specified in its charter)
    Delaware 13-2553920
    420 Montgomery Street
    San Francisco, California 94163
    (415) 477-1000 (Zip Code)

    DEBT SECURITIES
    (Title of Indenture Securities)

    General

    Item 1. General Information.
    ——————–

    Furnish the following information as to the trustee:

    (a) Name and address of each examining or supervisory authority to which it is subject.

    State of New York Banking Department.

    Federal Deposit Insurance Corporation, Washington, D.C.

    Board of Governors of the Federal Reserve System,
    Washington, D.C.

    (b) Whether it is authorized to exercise corporate trust powers.Yes.

    Item 2. Affiliations with Obligor.
    ————————–

    If the obligor is an affiliate of the trustee, describe
    each such affiliation. None

    EX-25.(I) 3rd Page of 7 TOC 1st Previous Next Bottom Just 3rd

    Item 16. List of Exhibits.
    —————–

    Exhibit
    T1A(i) * – Copy of the Organization Certificate of
    Marine Midland Bank.

    T1A(ii) * – Certificate of the State of New York
    Banking Department dated December
    31, 1993 as to the authority of Marine
    Midland Bank to commence business.

    T1A(iii) – Not applicable.

    T1A(iv) * – Copy of the existing By-Laws of Marine
    Midland Bank as adopted on January
    20, 1994.

    T1A(v) – Not applicable.

    T1A(vi) * – Consent of Marine Midland Bank
    required by Section 321(b) of the Trust
    Indenture Act of 1939.

    T1A(vii) – Copy of the latest report of condition
    of the trustee (June 30, 1996),
    published pursuant to law or the
    requirement of its supervisory or
    examining authority.

    T1A(viii) – Not applicable.

    T1A(ix) – Not applicable.

    * Exhibits previously filed with the Securities and Exchange Commission with Registration No. 33-53693 and incorporated herein by reference thereto.

    EX-25.(I) 4th Page of 7 TOC 1st Previous Next Bottom Just 4th

    SIGNATURE

    Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, Marine Midland Bank, a banking corporation and trust company organized under the
    laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York on the 8th day of November 1996.

    MARINE MIDLAND BANK

    By: /s/ Frank J. Godino
    ———————————–
    Frank J. Godino
    Assistant Vice President
    EXHIBIT T1A (vii)

    WFC Holdings Corp, et al. · S-3/A · On 12/4/96 · EX-25.(I)

    Board of Governors of the Federal Reserve System
    OMB Number: 7100-0036

    Federal Deposit Insurance Corporation
    OMB Number: 3064-0052

    Office of the Comptroller of the Currency
    OMB Number: 1557-0081

    FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL Expires March 31, 1999
    This financial information has not been reviewed, or confirmed
    [ 1 ]
    for accuracy or relevance, by the Federal Reserve System. Please refer to page I, ——-
    Table of Contents, for the required disclosure of estimated burden.

    CONSOLIDATED REPORTS OF CONDITION AND INCOME FOR A BANK WITH DOMESTIC AND
    FOREIGN OFFICES–FFIEC 031

    REPORT AT THE CLOSE OF BUSINESS JUNE 30, 1996

    This report is required by law; 12 U.S.C. (S)324 (State member banks); 12 U.S.C. (S)1817 (State nonmember banks); and 12 U.S.C. (S)161 (National banks).

    (950630)
    (RCRI 9999)

    This report form is to filed by banks with branches and consolidated subsidiaries in U.S. territories and possessions, Edge or Agreement subsidiaries, foreign branches, consolidated foreign subsidiaries, or International Banking Facilities.

    NOTE: The Reports of Condition and Income must be signed by an authorized consolidated subsidiaries in U.S. territories and possessions, officer and the Report of Condition must be attested to by not less than two Edge or Agreement
    subsidiaries, foreign branches, consoli-dated directors (trustees) for State nonmember banks and three directors for State member and National Banks.

    I, Gerald A. Ronning, Executive VP & Controller
    Title name of the named bank do hereby declare that these Reports of Condition and Income
    (including the supporting schedules) have been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and are true
    to the best of my knowledge and believe.

    /s/ Gerald A. Ronning
    Signature of Officer Authorized to Sign Report
    7/25/96
    Date of Signature

    The Reports of Condition and Income are to be prepared in accordance with Federal regulatory authority instructions. NOTE: These instructions may in some cases differ from generally accepted accounting principles.

    We, the undersigned directors (trustees), attest to the correctness of this Report of Condition (including the supporting schedules) and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal
    regulatory authority and is true and correct.

    /s/ Henry J. Nowak
    Director (Trustee)
    /s/ Bernard J. Kennedy
    Director (Trustee)
    /s/ Northrup R. Knox
    Director (Trustee)
    FOR BANKS SUBMITTING HARD COPY REPORT FORMS:

    STATE MEMBER BANK: Return the original and one copy to the appropriate Federal
    Reserve District Bank.

    STATE NONMEMBER BANKS: Return the original only in the special return address envelope provided. If express mail is used in lieu of the special return address envelope, return the original only to the FDIC, c/o Quality Data Systems, 2127
    Espey Court, Suite 204, Crofton, MD 21114.

    NATIONAL BANKS: Return the original only in the special return address envelope provided. If express mail is used in lieu of the special return address envelope, return the original only to the FDIC, c/o Quality Data Systems, 2127 Espey Court, Suite 204, Crofton, MD 21114.
    FDIC Certificate Number 0 0 5 8 9
    (RCRI 9030)

    REPORT OF CONDITION

    Consolidating domestic and foreign subsidiaries of the Marine Midland Bank of Buffalo Name of Bank City in the state of New York, at the close of business June 30, 1996

  13. FEDERAL HOME LOAN MORTGAGE CORPORATION ACT
    Public Law No. 91-351, 84 Stat. 450
    Approved July 24, 1970
    As amended through July 21, 2010

    purpose to provide stability in the secondary market for residential
    mortgages

    SEC. 302. DEFINITIONS (12 U.S.C. §1451)
    (c) The term “law” includes any law of the United States or of any State(including any rule of law or of equity).

    (d) The term “mortgage” includes such classes of liens as are commonly given or are legally effective to secure advances on, or the unpaid purchase price of, real estate under the laws of the State in which the real estate is located or a manufactured home that is personal property under the laws of the State in which the manufactured home is located, together with the credit instruments, if any, secured thereby, and includes interests in mortgages.

    (g) The term “property” includes any property, whether real, personal, mixed, or otherwise, including without limitation on the generality of the foregoing choses in action and mortgages, and includes any interest in any of the foregoing.
    (h) The term “residential mortgage” means a mortgage which
    (1) is a mortgage on real estate, in fee simple or under a leasehold …
    (i) The term “conventional mortgage” means a mortgage other than a mortgage as to which the Corporation has the benefit of any guaranty, insurance or other obligation by the United States or any of its agencies or instrumentalities.
    (j) The term “security” has the meaning ascribed to it by section 2 of the Securities Act of 1933 [15 U.S.C. 77].

    SEC 8K (CURRENT REPORTS)

    Federal Home Loan Bank of Atlanta
    Federal Home Loan Bank of Boston
    Federal Home Loan Bank of Chicago
    Federal Home Loan Bank of Cincinnati
    Federal Home Loan Bank of Dallas
    Federal Home Loan Bank of Des Moines
    Federal Home Loan Bank of Indianapolis
    Federal Home Loan Bank of New York
    Federal Home Loan Bank of Pittsburgh
    Federal Home Loan Bank of San Francisco
    Federal Home Loan Bank of Seattle
    Federal Home Loan Bank of Topeka

    Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

    EACH OF THE 12 Federal Home Loan Banks: Obtains most of its funds from the sale of debt securities, known as consolidated obligations, in the capital markets. Consolidated obligations, which consist of bonds and discount notes, are by regulation the joint and several obligations of the twelve Federal Home Loan Banks. The Federal Home Loan Banks are regulated by the Federal Housing Finance Agency (the “Finance Agency”), successor to the Federal Housing Finance Board effective on July 30, 2008 (collectively, the “Regulator”), and the regulations issued by the Regulator authorize the Finance Agency to require any Federal Home Loan Bank to repay all or a portion of the principal of or interest on consolidated obligations for which another Federal Home Loan Bank is the primary obligor. Consolidated obligations are sold to the public through the Office of Finance using authorized securities dealers. Consolidated obligations are backed only by the financial resources of the twelve Federal Home Loan Banks and are not guaranteed by the United States government.

    Schedule A
    Sets forth all consolidated obligation bonds and discount notes committed to be issued by the Federal Home Loan Banks, for which the Bank is the primary obligor, on the trade dates indicated, other than discount notes with a maturity of one year or less that are issued in the ordinary course of business. Schedule A also includes any consolidated obligations with a remaining maturity in excess of one year, if any, for which we have assumed the primary repayment obligation from another Federal Home Loan Bank.

    • although consolidated obligations issuance is material to the Bank, we have not made a judgment as to the materiality of any particular consolidated obligation or obligations;

    • Schedule A does not address any interest-rate exchange agreements (or other derivative instruments) which we may enter into as a result of our asset and liability management strategies and that may be associated, directly or indirectly, with one or more of the reported consolidated obligations;

    • Schedule A will not enable a reader to track changes in the total consolidated obligations outstanding for which we are the primary obligor because Schedule A generally excludes consolidated obligation discount notes with a maturity of one year or less and does not reflect whether the proceeds from the issuance of the reported consolidated obligations will be used to, among other things, satisfy called or maturing consolidated obligations. We will report the total consolidated obligations outstanding for which we are the primary obligor in our periodic reports filed with the Securities and Exchange Commission; and

    • the principal amounts reported on Schedule A represent the principal amount of the reported consolidated obligations at par, which may not correspond to the amounts reported in our financial statements prepared in accordance with generally accepted accounting principles contained in our periodic reports filed with the Securities and Exchange Commission, because the par amount does not account for, among other things, any discounts, premiums or concessions.

    EXHIBIT A
    FEDERAL HOME LOAN BANK OF DES MOINES:
    TRADE DATE 5/4/2011
    CUSIP 313373RW4
    SETTLEMENT DATE 5/23/2011
    MATURIITAL DATE 5/23/2014
    NEXT PAY DATE 11/23/2011
    CALL TYPE (1) OPTIONAL PRINCIPAL REDEMPTION
    CALL STYLE (S) EUROPEAN
    RATE TYPE / RATE SUB-TYPE (3) (4) FIXED CONSTANT
    NEXT CALL/AMORT DATE 11/23/2011
    COUPON PERCENT 1.250
    BANK PART – $15,000,000

    SEE EXHIBIT A CUSIP DETAILS 8k 2011 REPORT
    3133XWE70-$4,770,00; 313373S45-$10,000,000; 313373S45- $15,000,000; 313373S86 $125,000,000; 313373S86 – #125,000,000; 313373SG8 – $150,000,000 ; 313373SK9 – $15,000,000; 3133XYHD0 – $100,000,000; 313373QT2 – $2,860,000; 313373R53 – $10,000,000; 313373S45 – $15,000,000; 313373SZ6 $4,770,000; 3133XWE70 $4,290,000; 3133X6HDO-$4,490,000

    1) Call Type Description:
    Optional Principal Redemption bonds (callable bonds) may be redeemed by the Bank in whole or in part at its discretion on predetermined call dates, according to the terms of the bond.
    Indexed Amortizing Notes (indexed principal redemption bonds) repay principal based on a predetermined amortization schedule or formula that is linked to the level of a certain index, according to the terms of the bond.
    Scheduled Amortizing Notes repay principal based on a predetermined amortization schedule, according to the terms of the bond.

    (2) Call Style Description:
    Indicates whether the consolidated obligation is redeemable at the option of the Bank, and if so redeemable, the type of redemption provision. The types of redemption provisions are:
    American-redeemable continuously on and after the first redemption date and until maturity.
    Bermudan-redeemable on specified recurring dates on and after the first redemption date, until maturity.
    European-redeemable on a particular date only.
    Canary-redeemable on specified recurring dates on and after the first redemption date until a specified date prior to maturity.
    Multi-European-redeemable on particular dates only.

    (3) Rate Type Description:

    Conversion bonds have coupons that convert from fixed to variable, or variable to fixed, or a mix of capped coupons and non-capped coupons, or from one variable type to another, or from one
    U.S. or other currency index to another, according to the terms of the bond.

    Fixed bonds generally pay interest at constant or stepped fixed rates over the life of the bond, according to the terms of the bond.

    Variable bonds may pay interest at different rates over the life of the bond, according to the terms of the bond.(4) Rate Sub-Type Description:

    Constant bonds generally pay interest at fixed rates over the life of the bond, according to the terms of the bond.

    Step Down bonds generally pay interest at decreasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

    Step Up bonds generally pay interest at increasing fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

    Step Up/Down bonds generally pay interest at various fixed rates for specified intervals over the life of the bond, according to the terms of the bond.

    Zero Coupon bonds earn a fixed yield to maturity or the optional principal redemption date, according to the terms of the bond, with principal and interest paid at maturity or upon redemption to the extent exercised prior to maturity.

    Capped Floater bonds have an interest rate that cannot exceed a stated or calculated ceiling, according to the terms of the bond.

    Dual Index Floater bonds have an interest rate determined by two or more indices, according to the terms of the bond.

    Levereraged/Deleveraged bonds pay interest based on a formula that includes an expressed multiplier, according to the terms of the bond: multiplier > 1 = leveraged, multiplier < 1 = deleveraged.

    Inverse Floater bonds have an interest rate that increases as an index declines and decreases as an index rises, according to the terms of the bond.

    Stepped Floater bonds pay interest based on an increasing spread over an index, according to the terms of the bond.

    Range bonds may pay interest at different rates depending upon whether a specified index is inside or outside a specified range, according to the terms of the bond.

    Single Index Floater bonds pay interest at a rate that increases as an index rises and decreases as an index declines, according to the terms of the bond.

    Ratchet Floater bonds pay interest subject to increasing floors, according to the terms of the bond, such that subsequent coupons may not be lower than the previous coupon.

    SEC FILE 5-43997
    FEDERAL HOME LOANS CORP (7) FILINGS
    2/13/95 -FMR LLC SC 13G
    8/9/95 FMR LLC SC 13TG/A
    3/15/96 FMR LLC SC 13G/A
    2/04/97 OPPENHEIMER GROUP INC SC 13G/A
    2/11/97 FMR LLC SC 13G/A
    2/10/98 FMR LLC SG 13G/A
    2/12/99 FMR LLC SG 13G/A

    2/04/97 OPPENHEIMER GROUP INC – SC 13G/A
    ISSUER: FEDERAL HOME LOAN CORP
    8200 JONES BRANCH DR
    MCLEAN VA 22102

    Principal Business Office
    Oppenheimer Tower
    World Financial Center
    New York, NY 10281
    Citizenship: N/A
    Class of Securities: Comon
    CUSIP 313400301
    Item 3Og) "X" Parent Holding Company, in accordance with Section 240.13d – 19b) (1) (ii) G)

    AMOUNT BENEFICIALLY OWNED: OPPENHEIMER GROUP, INC -13,527,987*

    OWNERSHIP OF MORE THAN 5 PERCENT – SEE EXHIBIT A:
    SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED BY PARENT HOLDING CO: SEE EXHIBIT II

    * Includes amount beneficially owned by Oppenheimer Capital as disclosed on Page 3 hereof.

    SIGNATORY:
    “Robert I. Kleinberg”
    a.k.a. “Robert I.Kleinberg”
    Latest Filing: 9/15/03 as Signatory

    ——————————————————————————–

    As: Signatory (Director, Officer, Attorney, Accountant, Banker, Agent, etc.)
    List All Filings as Signatory

    Search Recent Filings (as Signatory) for “Robert I. Kleinberg”
    “Robert I. Kleinberg” has been a Signatory for/with the following 9 Registrants:
    Asia Tigers Fund Inc
    Cibc Oppenheimer Corp [ formerly Oppenheimer & Co Inc ]
    Cornerstone Strategic Return Fund Inc [ formerly Czech Republic Fund Inc ]
    India Fund Inc [ formerly India Fund Inc/Ny New ]
    Mexico Equity & Income Fund Inc
    National Financial Partners Corp
    Oppenheimer Group Inc
    Westmed Venture Partners 2 LP
    Westmed Venture Partners LP

    “Robert I. Kleinberg” has/had a Signatory interest in the following 80 Registrants:
    ACE Ltd
    Aflac Inc
    American Phoenix Group Inc [ formerly Eci International Inc ]
    Amr Corp
    Anadarko Petroleum Corp
    Arrow Electronics Inc
    Assured Guaranty Municipal Holdings Inc [ formerly Financial Security Assurance Holdings Ltd ]
    Avon Products Inc
    Aydin Corp
    Baldwin Technology Co Inc
    Banctec Inc
    Be Aerospace Inc
    Becton Dickinson & Co
    Belden & Blake Corp [ formerly Belden & Blake Energy Co ]
    CAESARS ENTERTAINMENT Corp [ formerly Harrahs Entertainment Inc ]
    Champion International Corp
    Coltec Industries Inc
    Corvita Corp/FL
    Countrywide Financial Corp [ formerly Countrywide Credit Industries Inc ]
    Darling International Inc
    Dole Food Co Inc [ formerly Dole Food Company Inc ]
    El Paso Tennessee Pipeline Co [ formerly Tenneco Inc/DE ]
    Exar Corp
    Federal Home Loans Corp
    Flooring America Inc [ formerly Maxim Group Inc ]
    Freeport McMoran Copper & Gold Inc
    Freeport McMoran Inc
    Fruit of the Loom Inc/DE
    General Semiconductor Inc [ formerly General Instrument Corp/DE ]
    Graftech International Ltd [ formerly Ucar International Inc ]
    Harmon Industries Inc
    Hasbro Inc
    Hercules Inc
    Honeywell Inc
    Larizza Industries Inc
    Lucasvarity Inc [ formerly Varity Corp ]
    Lucasvarity PLC
    M&T Bank Corp [ formerly First Empire State Corp ]
    Mapco Inc
    Mattel Inc/DE
    May & Speh Inc
    May Department Stores Co
    McDonnell Douglas Corp
    McGrath Rentcorp
    Mead Corp
    Medical Nutrition USA Inc [ formerly Medical Nutrition Inc ]
    Mellon Financial Corp [ formerly Mellon Bank Corp ]
    Mid Ocean Ltd
    Nahama & Weagant Energy Co
    National Health Laboratories Inc
    Newport News Shipbuilding Inc
    Nu Kote Holding Inc/DE
    Oak Industries Inc
    Omnicom Group Inc
    Pharmacia Corp/DE [ formerly Monsanto Co ]
    Progressive Corp/OH
    Quality Distribution Inc [ formerly MTL Inc ]
    RR Donnelley & Sons Co [ formerly Donnelley R R & Sons Co ]
    Shaw Industries Inc
    Shorewood Packaging Corp
    Spacelabs Medical Inc
    Sprint Nextel Corp [ formerly Sprint Corp ]
    Sundstrand Corp/DE
    Sylvan Inc [ formerly Sylvan Foods Holdings Inc ]
    Tal Wireless Networks Inc [ formerly American Phoenix Group Inc/DE ]
    Temple Inland Inc
    Tenet Healthcare Corp [ formerly National Medical Enterprises Inc/NV ]
    Transamerica Corp
    Triton Energy Corp
    Trump Entertainment Resorts/Inc [ formerly Trump Hotels & Casino Resorts Inc ]
    Union Texas Petroleum Holdings Inc
    United Continental Holdings/Inc [ formerly Ual Corp/DE ]
    Unitrode Corp
    Venture Stores Inc
    Warnaco Group Inc/DE
    Wells Fargo Bank & Co [ formerly First Interstate Bancorp/DE ]
    WFC Holdings Corp [ formerly Wells Fargo & Co ]
    Whitman Corp
    XL Group PLC [ formerly XL Capital Ltd ]
    York International Corp/DE

  14. http://democrats.judiciary.house.gov/press-release/conyers-lauds-decision-federal-agency-sue-banks-mortgage-securities-fraud-good-first

    for got the link. I am trying to take care of my two year old granddaughter and focus on this artlcle as well. She is very active.

  15. Conyer cites defrauded homeowners deserve help by FHFA lawsuits the FHFA are putting together.

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