QE3 Mortgage backed Securities $40B/mo

[we-R-one]

ya....know what else I heard?...that BofAssholes is trying to get out of the mortgage industry....lmao....I'll have to find a link on that.

oops...can I say that?

Of course this is my 3D response...

[gripreaper]

Chase is trying to get out of liability for 160 + trusts that Deutsch is suing them and the FDIC on.

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA, case number 09-CV-01656-RMC, Document 55, styled DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee for the Trusts listed in Exhibits 1-A and 1-B, Plaintiff, vs. FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver for Washington Mutual Bank; JPMORGAN CHASE BANK, National Association; and WASHINGTON MUTUAL MORTGAGE SECURITIES CORPORATION

Defendants; JPMorgan Chase herein pleads, on page 33. of 39;
"Under the plain terms of that agreement, JPMC did not become WMB's successor in interest. Since its closure, the FDIC as receiver has controlled WMB. While JPMC purchased all of the assets of WMB, it assumed only specified liabilities: those that had been reduced to a dollar amount on WMB's `general ledger and subsidiary ledgers and supporting schedules which support the general ledger balances.'"

However JPMorgan Chase is telling a Judge in New Jersey it Owns and Holds this particular Mortgage Note by virtue of the aforementioned Purchase and Assumption Agreement acquired from the FDIC. Then in this case, [as sited above] in order to avoid / evade liability now pleads it"… did not become WMB.'s successor in interest." You' all know the difference between "avoid" and "evade," [twenty years]!

It is my sincere hope the Attorney General of Florida along with the Attorney General in the other forty-nine States investigate JPMorgan Chase's claim as successor in interest to WaMu, wherein JPMorgan Chase claims to be a Plaintiff, as its foundation points to the Purchase and Assumption Agreement. Equity would call for an Estoppel of all foreclosure Actions in which JPMorgan Chase claims to be WaMu's successor in interest

[gripreaper]

Several lawsuits reveal how lenders and banks violated the REMIC rules by failing to transfer mortgage notes to trusts or by transferring bad mortgage notes to the trusts. For example, a lawsuit against Barclays Bank includes a report of three purported REMICs that Barclays Bank formed. That report shows that the purported REMICs did not hold the notes (in violation of the REMIC rules) that they told investors they held. The report also shows that the value of property securing mortgage notes was often well below what the lenders and Barclays claimed it was. Simple calculations suggest that -- in reality -- many of the mortgage notes would not be secured by property worth at least 80 percent of the amount of the loans.

Other cases further illustrate that purported REMICs may not be able to foreclose on property because purported REMICs either do not hold mortgage notes or mortgage notes they hold are not properly recorded. In a lawsuit against JPMorgan Chase, the New York Attorney General claims that JPMorgan relaxed its due diligence, disregarded defective mortgage notes of which it became aware, and manipulated defective note claims. As a result, mortgage notes that it claimed to transfer to purported REMIC trusts probably would not satisfy the requirements in the REMIC rules. High-profile cases filed by the federal government against major financial institutions claim that the mortgage notes transferred to purported REMICs were bad loans. These and other lawsuits allege that banks knowingly misled investors about the quality of the loans that purported REMICs claimed to hold.

http://www.huffingtonpost.com/bradle...b_1972207.html

[gripreaper]

The rats are turning on each other, and eating their own flesh. This will make the game more interesting, with Mortgage Backed Securities Investors, defrauded homeowners, and Now FDIC, Fannie and Freddie, FHA, and other banking institutions going at the mortgage bundlers.

http://stopforeclosurefraud.com/2012...ortgage-pools/

Like a pool of piranha in a feeding frenzy!

Source: https://youtube.com/watch?v=JQIo9r8ZcjM

[we-R-one]

LOL, isn't that the truth...reminds me of the case back in 2006...Wells Fargo v. Wachovia.......as the story goes, Wells Fargo was suing the latter for non-delivery of all the loan documents as part of the transaction. Apparently what came out of this was the documents had been destroyed! Seems to me that the battles amongst themselves are silly, when really, they all appear to be working for the same cartel, but hey, thanks for the show! It just validates future litigation that much more, by confirming that these banks are full of crap.

[we-R-one]

You know what else they're finding in regards to REMIC's? Some are trying to illegally foreclose when the purpose of their existence is in question, meaning, they're figuring out that some of these trusts no longer have tax exempt status, which means.....it's not functioning for the purpose in which it was created and therefore cannot be a true plaintiff! You can find a list of tax-exempt REMIC's, which are published by year through the IRS. These lists are known as Publication 938...I believe these publications started in 2008.

[gripreaper]

Posted by we-R-one (here)
You know what else they're finding in regards to REMIC's? Some are trying to illegally foreclose when the purpose of their existence is in question, meaning, they're figuring out that some of these trusts no longer have tax exempt status, which means.....it's not functioning for the purpose in which it was created and therefore cannot be a true plaintiff! You can find a list of tax-exempt REMIC's, which are published by year through the IRS. These lists are known as Publication 938...I believe these publications started in 2008.

I should send you the lawsuit brief I wrote last year. I hit on all the frauds in it, but my ex was not willing to use it. After she lost her job, she lost her will to fight.

[we-R-one]

The fraud is so over the top.....hey, a little off topic but kinda not....have you heard about Rod Class' new Diversity Challenge? LMAo.....omg......I just read that for the first time today.....holy moley.......what a beautiful piece of work......the question is....will it work......clock is ticking.....results should come forward soon, as the administrative judges only have so much time to respond. This type of approach has the potential to stop litigation in it's tracks!

[ThePythonicCow]

Posted by Paul (here)
Rather I expect it will be a depression, with few jobs, and most imports priced out of reach of most of us. Unfortunately, most imports include food and fuel, so this one's going to hurt. Foreigners won't want our US Dollars anymore, and until we get our act together and figure out how to make or mine something they want in trade, it will be slim pickings here in the US.

A newsletter to which I subscribe, Jim Willie's The Hat Trick Letter, quotes an anonymous inside source who anticipates that a major US Dollar devaluation will occur in the fall of 2013, raising the price of goods imported into the US market. Since Dollars and jobs are already getting increasingly difficult to come by within the US, and since the US imports so much of what it uses, including oil, upon which so much more depends, this Dollar devaluation will send serious shock waves through the country.

This will not likely be a single event, but rather a prolonged siege, as the Dollar hegemony collapses, big banks fail, governments go bankrupt (e.g. Detroit, once one of the wealthiest cities in the world), pension funds and retirement accounts are raided, ...

The key question, in my mind, is "what next"? Are we simply transitioning to the next phase of tyranny, on a more global scale, or are the tyrants losing their grip?

There are evidently some major forces and players behind the scenes, contesting with each other and seeking increased control over humanity.