EFFECTIVE USE OF WHAT THE MORTGAGE GIANTS SAY ABOUT EACH OTHER

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

The Federal Housing Finance Agency (FHFA) filed suit against 17 lead defendants. Lawyers and pro se litigants and anyone with a mortgage subject to a possible claim that the loan was securitized should be interested and follow the allegations AND the wrangling over discovery. There are forms in there that can and should be used by litigants. When counsel for pretender lenders proffers facts not in evidence then your objection should be coupled with “that’s not what they said when they were litigating with FHFA.” And then quote what they DID say in writing versus the oral proffers of counsel who can later say he was “mistaken.”
Complaints have been filed against the following lead defendants:

  1. Ally Financial Inc. f/k/a GMAC, LLC
  2. Bank of America Corporation
  3. Barclays Bank PLC
  4. Citigroup, Inc.
  5. Countrywide Financial Corporation
  6. Credit Suisse Holdings (USA), Inc.
  7. Deutsche Bank AG
  8. First Horizon National Corporation
  9. General Electric Company
  10. Goldman Sachs & Co.
  11. HSBC North America Holdings, Inc.
  12. JPMorgan Chase & Co.
  13. Merrill Lynch & Co. / First Franklin Financial Corp.
  14. Morgan Stanley
  15. Nomura Holding America Inc.
  16. The Royal Bank of Scotland Group PLC
  17. Société Générale

The following Reports to the Congress from the Federal Housing Finance Agency (FHFA) present the findings of the agency’s annual examinations of Fannie Mae and Freddie Mac (Enterprises), the 12 Federal Home Loan Banks (FHLBanks), and the Office of Finance. This report meets the statutory requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008 (HERA).  The views in this report are those of FHFA and do not necessarily represent those of the President.

To request hard copies of FHFA Reports to Congress, contact: FHFA’s Office of Congressional Affairs and Communications
Phone: (202) 414-6922 or send e-mail to:   FHFAinfo@FHFA.gov

 

7 Responses

  1. Anybody put this is lay terms? It would take me forever and a day to figure it out. I am trying to learn what the holding period was and is for ‘asset-backed securties transactions’ before and after the 2008 (?) amendments to SEC Rule 144:

    http://www.sec.gov/rules/final/2007/33-8869.pdf

    Anyone get this?

  2. My loan with MortgageIT, Inc. Fits the description of poorly originated loan to a T but I don’t think my loan was in one of those trusts (I can’t find my loan but i have a general idea).

    I just find it logical to say to my mystery creditor…. go sue Fannie for your certificate monthly payments per your contract with them…. and Fannie you are proving that the loans were poorly originated then go sue DB/MortgIT…

    I don’t see how Fannie can come to court to seek damages from me when it is seeking or can seek damages from DB/MortgIT…

    So I say wells fargo as servicer go pound sand until DB/Fannie/investors complete their lawsuits. Then they can come to me to see what I owe.

  3. ok

  4. There are several banks involved in every securitization not just the so-called trustee bank. Wells is allegedly involved in my alleged securitization. Why do I say alleged? Because the alleged Note created by an alleged lender was allegedly sold into an alleged Trust. All BS.

  5. Linda, most of the actions are against trustees. Wells doesn’t appear as trustee for many of these transactions. They are usually an originator, sponsor, or servicer. Don’t “take this to the bank”, but that is what I surmise.

  6. No Wells Fargo again?

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