Foreclosure Fraud Runs Rapid

Investment risk and uncertainty in the real estate housing market

The Big Short” movie has been an eye opening entertainment film that has explained the behind the scenes business practices of banks handling people’s mortgages. Another term for CDO or bundle mortgages is REMIC trust accounts. The movie alleges that these mortgages were given triple “A” ratings meaning the homeowner had excellent credit and had high paying employment to low debt ratio. The homeowners that signed onto a variable interest rate home loans experienced a greatly increased payment and most homeowners defaulted on the loan and foreclosed, but it was a wrongfully foreclosure. But, only a very few of homeowners went to court to fight for their entitled damages to continue to pursue a ‘quiet title’ legally.

CDO is Collateralized Debt Obligations and the REMIC is Real Estate Mortgage Investment Conduit has the AMBIR conducting reporting services, which is All Mortgage Backed Income Reporting. AMBIR calculations 1099 reportable income to a firm for the investors’ level tax reporting, who are referred to as ‘security master.’ Monthly CUSIP reporting of files is to update firm investors. A CUSIP is a number assigned at birth as a bond, credit value or a person’s strawman, which is traded on the Stock Exchange. A CUSIP bond is the DNA value of the individual. Strawman is another term to label an individual as a corporation, which is a separate equity or what can be referred to as low-end money.

There is two parts to the loan, the promissory note and the deed of trust. There is a window of opportunity after these documents are signed by the homeowner for their security instrument, which is the actual property to be instated into the mortgage bundle or commonly known as a CDO. Usually it is 90 days after the CUSIP signer’s security instrument has to be included into a mortgage bundle or REMIC trust that executes or memorializes the sale.

It was common practice for the MERS being a registry, which stands for Mortgage Electronic Registration System to assign a nominee, but is not legally entitled to assign these documents, because MERS is not able to provide a hard copy or tangible note and deed to a trustee or nominee. Meaning the actual property is transferred to a trustee illegally. This means the sale is void and the homeowner may challenge the trustee holder’s entitlement to foreclosure on their security instrument or property.

The trustee holder’s or banks claiming the assignment is voidable, which means the homeowners are not involved to be able to challenge ‘slander of title’ or ‘trade libel’ or ‘title disparagement of property’ or ‘injurious falsehood’ or ‘slandered goods,’ yet the banks are profiting on the promissory note or the debt, which is attach to the homeowner’s CUSIP bond traded on Wallstreet. Meaning the stock exchange can earn income on the debt or the homeowner’s promissory note or CUSIP bond value.

It is most likely the case that the debt or promissory note and the mortgage or deed of trust documents are not dated, so this is how the mortgage lender is able to commit fraud against the homeowner, especially when the lender is collecting income tax benefits on the debt, which is stated in the promissory note. And, usually the deed of trust or mortgage had been included into the trustee’s REMIC account years after the documents were signed by the homeowner, because the promissory note and the deed of trust were undated. It is common knowledge that an undated document is not a legal document.

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