Fascinating Paragraph on Mortgage Securitization

[Capt. Jack]

http://mattweidnerlaw.com/blog/2010/05/irs-form-938-i-have-no-idea-if-this-is-important-but-it-sure-is-curious/

Every time I read the paragraph below, for some reason, I start to laugh. It's complex yet so simply stated.

A quote from the article....

Snip>

They seriously think we are that stupid. What are they hiding from us? Maybe that the banks have committed billions upon billions in tax evasion. Follow what is happening in non-judicial states and you will see the arrogance. They actually show us the blank note endorsement from the original lender yet no recording of the interest through the depositor to the trust. Lack of standing?

Then when they are finished stealing the house they sell the loan from the unlawful foreclosing party(trust) that had no standing to F/C back to the trust through a POA to the servicer and effectively cover their tracks that the loan was never in the trust, they still stole the investors money, and they still claimed the tax exemptions under REMIC.

All while the Govt and IRS watch.

Snip>



I suspect the bash the homeowners crowd is conjuring some means of describing this as left wing “nanny” non-sense.

Oh, and if you think this is some sort of game, look where this guy landed for speaking out....behind bars.

http://www.youtube.com/watch?v=_Kk7O0h--rg

Fight Back!

http://www.foreclosurehamlet.org