QE3 Mortgage backed Securities $40B/mo

[Rocky_Shorz]

why Mortgage backed securities, why not buy the mortgages on default, spend pennies and offer it to a returning Vet to start his life. The house will go from a rat trap, to the nicest on the block over night...

you want to turn around the housing market, removing houses makes that happen...

so the Federal Reserve is continuing to buy up American assets...

Maiden Lane 4?


the Committee agreed today to increase policy accommodation by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The Committee also will continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June, and it is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative...
link (http://www.marketwatch.com/story/text-of-fed-statement-on-qe3-2012-09-13?dist=countdown)

If all this money is about to be pumped this direction, Why did America dump AIG right before doing this?

if you want a list of insiders, look who is buying AIG...

[T Smith]

why Mortgage backed securities, why not buy the mortgages on default, spend pennies and offer it to a returning Vet to start his life. The house will go from a rat trap, to the nicest on the block over night...

you want to turn around the housing market, removing houses makes that happen...

so the Federal Reserve is continuing to buy up American assets...

...

Why? Because it's not about fixing or turning around the housing market. There are countless solutions to fix the housing market and the economy, at a fraction of the cost, if only that were the real objective.

What's transpiring here is about shaking out the middle class and consolidating wealth and power. It's about transferring wealth from the masses and into the hands of a very small elite, impoverishing the masses en route. It's about corporate welfare at the very top and squeezing out the middle guy. The end game is a dollar collapse, an ensuing World War conflict, and an "official" ushering in of a new world order to restore the chaos.

[ThePythonicCow]

oops meant to type $40B can I get a quick edit Mods...
Thread title edited, from $50B to $40B :)

[Rocky_Shorz]

whew, at least it's nothing to worry about... ;)

[we-R-one]

omg, omg, omg, if I'm understanding this correctly, this is exactly what I feared was going on.....several of us were talking about this on another thread and I will mention over here what I said over there. There's a serious problem going on within the real estate market that is not being discussed or covered in the mainstream media. There's an organization known as MERS, which stands for Mortgage Electronic Registration System and it's membership consists of all the big banks. What they're doing with the mortgages is splitting the note from the deed and packaging them up and selling them as mortgage backed securities. Additionally they are splitting these securities up into a hundred pieces which is known as fractionalization. By splitting the note from the deed they are clouding the title! A PROPERTY IS DEEMED UNSELLABLE WITH A CLOUDED TITLE! YOU CANNOT LEGALLY SELL A CLOUDED TITLE!

EDIT to add:
ESTABLISHED CASE LAW:
Carpenter v. Longan

"The note and mortgage are inseparable; the former as essential, the latter as an incident. An assignment of the note carriers the mortgage with it, while an assignment of the latter is a nullity."

Which means any loan that has a MERS identification # on it, most likely has a clouded title. It is estimated that over 70 million homes have a clouded title!

What does this mean to the home owner? It means YOU COULD BE MAKING MORTGAGE PAYMENTS TO THE WRONG LIEN HOLDER! Which means, SOMEONE ELSE CAN COME BACK AND MAKE A CLAIM ON YOUR PROPERTY AS THE RIGHTFUL LIEN HOLDER. Which means, YOU COULD BE LEGALLY FORECLOSED ON FOR NOT MAKING PAYMENTS TO THE RIGHT LIEN HOLDER. Which means, if they have fractionalized your loan, ALL SUBSEQUENT OWNERS OF THOSE MORTGAGE BACK SECURITIES CAN MAKE A CLAIM ON YOUR PROPERTY.

EDIT to add:
ESTABLISHED CASE LAW:
It's all ready happening see Bevilacqua v. Rodriguez

Now if I understand the above article that Rocky Shorz posted, the government is buying back these mortgage backed securites, which is beyond scary to me and what I have feared all along as being a scenario in the making.....why? BECAUSE IT MEANS THE GOVERNMENT IS NOW THE RIGHTFUL LIEN HOLDER, ......LEGALLY!!!! AND THE BANKS AREN'T GOING TO CARE BECAUSE THEY ALL READY GOT PAID WHEN YOU SIGNED FOR THE MORTGAGE. THE FEDERAL RESERVE IS IN CHARGE OF BOTH THE BANKS AND THE GOVERNMENT SO THEY ARE ONE IN THE SAME!!

DO YOU SEE WHERE I'M GOING WITH THIS?? THEY CAN START KICKING PEOPLE OUT OF THEIR HOUSES IF THEY WANT TO!

It's not about the property, it's about controlling the masses. See Agenda 21! They were all ready paid for the property, the second you signed for that mortgage, they're just not telling you that, so the house was paid for upfront! They all ready got their money!!! They have securitized your signatures!

Oh god....someone please tell me I'm completely wrong about this.......

You can follow the conversation we had over on this thread starting with post #6
http://projectavalon.net/forum4/showthread.php?49413-What-will-happen-to-unpaid-mortgages&p=548725#post548725

[jagman]

Quantitative Easing #3 The final death blow! Here comes hyperinflation. Brace yourselves, People of the World,The United States is going down!
Mayday... Mayday....

[Referee]

Here some more........QPY4FgLFUy0

[ThePythonicCow]

Quantitative Easing #3 The final death blow! Here comes hyperinflation. Brace yourselves, People of the World,The United States is going down!
Mayday... Mayday....

I doubt it will be exactly hyperinflation, where the government prints money by the wheelbarrow full, with increasing numbers of zero's in the amount.

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.

The bright side: there may be a lot of veterans (former U.S. soldiers) in the soup lines with the rest of us.

[cloud9]

we-R-one,
I'm posting these videos because I'd like to have your opinion about them. My sister and I bought our house in 2003 and I'm 100% positive it was one of those bad loans because we didn't have enough income at the time but our real estate agent helped us though it.

We have never been late in our payments so we don't have problems about that but it bothers me a lot knowing that we are paying a house which is not worth what we owe. One day I called chase and asked them what I could do to get a lower interest rate and they told me I should stop paying so they could study a possible mortgage modification but we never wanted to follow that route, it means you have to destroy your credit and there's no guarantees.

After seeing these videos I understood that when they ask homeowner to be late 90 days they receive full payment from the insurance companies but they can still give you a mortgage modification or even sell your loan to somebody else which I think is fraud because they are being paid twice or more times. Also, the closing day we signed so many papers we didn't have the chance to read, they were just saying: sign here, here and here... I'm not lying when I say we signed more than a hundred documents. All I know is that the mortgage company sold the loan to chase and we have been paying to them.

One day I wanted to know who is the owner of the note and I tried MERS with my address or SS # but it never gave any results.

Is there any other way to know who owns the note?


NNjnQ7tAKCY

9hdrqTK0HtA

[we-R-one]

we-R-one,
I'm posting these videos because I'd like to have your opinion about them. My sister and I bought our house in 2003 and I'm 100% positive it was one of those bad loans because we didn't have enough income at the time but our real estate agent helped us though it.

We have never been late in our payments so we don't have problems about that but it bothers me a lot knowing that we are paying a house which is not worth what we owe. One day I called chase and asked them what I could do to get a lower interest rate and they told me I should stop paying so they could study a possible mortgage modification but we never wanted to follow that route, it means you have to destroy your credit and there's no guarantees.

After seeing these videos I understood that when they ask homeowner to be late 90 days they receive full payment from the insurance companies but they can still give you a mortgage modification or even sell your loan to somebody else which I think is fraud because they are being paid twice or more times. Also, the closing day we signed so many papers we didn't have the chance to read, they were just saying: sign here, here and here... I'm not lying when I say we signed more than a hundred documents. All I know is that the mortgage company sold the loan to chase and we have been paying to them.

One day I wanted to know who is the owner of the note and I tried MERS with my address or SS # but it never gave any results.

Is there any other way to know who owns the note?

I will take a look at these and then reply, just give me till later tonight. Most likely the loans that will be affected will be anywhere from the year 2000 to current. The information on the MERS website is poorly documented and inaccurate from what I've been told- big surprise, huh? Here's what you can do, go down to the county recorder's office in the county in which the property resides and pull all the documents on your property. You will probably have to pay a $1 a copy. No need to get it certified at this point, that will come later if you decided to do a quiet title and an attorney would request that from you when the time comes. The certified copy has to be in perfect shape, so that's why I recommend at this point that you just get regular copies so you don't have to worry about messing up the paperwork. What you're looking for is a MERS identification number or min # within the documents. Do this first and then send me a message and I'll tell you what you need to do next.

Whatever you do, don't get involved in any class action suits, not a good idea and most often not to your benefit as each homeowners situation is different. You see it is my understanding that you are better off pursuing the quiet title before a foreclosure situation can come back at you. Meaning, you want to be the plaintiff, not the defendent. This could offer an opportunity for you to get a reduction in your loan based on the fact that it's highly likely you aren't even paying the proper lien holder! You see what I'm saying? So in lieu of them wrongfully collecting on your mortgage, because the can't provide the note and aren't necessarily the legal lien holder, you might be able to get them to reduce your loan to the market value. Personally with what I know, everyone should get their house for free, because it's all ready paid for and has been since the day you signed for it! But the judges just aren't allowing it...don't ask me how they get around that one since there is so much fricken fraud going on it's not even funny.

So yes you are correct, it does have to do with the insurance, but I was told it's being done at the beginning of the transaction and the banks are paid for the amount of the house 90 days after you sign- supposedly this is where AIG comes into play. It's a scam. I'm not completely astute on the process, but as soon as I get it down, I will post...I just know that it's been going on and it continues to go on to this day and it's not just in the real estate industry! It is possible that there's additional monies passing when the foreclosure process takes place, I wouldn't doubt it for a second, but I don't know enough to understand the process. As I get more well rounded I will post what I know.



DISCLAIMER

I am not a Attorney (Lawyer) medical professional or financial adviser orJudge or Tax Expert or expert in anything, I do not offer Legal Advice orany other form of Law. I research and share Information for Fun andEntertainment and for comparison. All theexchanges contained in this email are for personal use only. This private emailmessage, including any attachment[s] is limited to the sole use of the intendedrecipient[s] and may contain Privileged and/or Confidential Information.Since I Know that I am a Freeborn man with a living Spirit, put here by a creator. I have made him Fiduciary over my Soul.
I am a Living Spirit "One of the People" sent here to live in aFleshly Body "Dust of the Earth", Living on the Dry Soil, Domiciledin a place called Idaho and Living under the Laws and Commandments of the creator and having no intentions of causing harm to anyone or anything. Not being the Subject to Slavery or the Unconscionable Contracts ofUndisclosed "Assumptions" "Presumptions""Adhesive""Invisible" and/or Color of Law and/or wordsmith. MAXIMSOF LAW is the foundation....

****AS PER THE UNITED STATES SUPREME COURT;
A. The practice of Law CAN NOTbe licensed by any state/State Schware v. Board of Examiners,353 U.S. 238, 239
B. The practice of Law is ANOCCUPATION OF COMMON RIGHT!
Sims v. Aherns, 271S.W. 720 (1925) ****


NOTICE TO PRINCIPAL IS NOTICE TO AGENT.NOTICE TO AGENT IS NOTICE TO PRINCIPAL.

[cloud9]

we-R-one,
I'm posting these videos because I'd like to have your opinion about them. My sister and I bought our house in 2003 and I'm 100% positive it was one of those bad loans because we didn't have enough income at the time but our real estate agent helped us though it.

We have never been late in our payments so we don't have problems about that but it bothers me a lot knowing that we are paying a house which is not worth what we owe. One day I called chase and asked them what I could do to get a lower interest rate and they told me I should stop paying so they could study a possible mortgage modification but we never wanted to follow that route, it means you have to destroy your credit and there's no guarantees.

After seeing these videos I understood that when they ask homeowner to be late 90 days they receive full payment from the insurance companies but they can still give you a mortgage modification or even sell your loan to somebody else which I think is fraud because they are being paid twice or more times. Also, the closing day we signed so many papers we didn't have the chance to read, they were just saying: sign here, here and here... I'm not lying when I say we signed more than a hundred documents. All I know is that the mortgage company sold the loan to chase and we have been paying to them.

One day I wanted to know who is the owner of the note and I tried MERS with my address or SS # but it never gave any results.

Is there any other way to know who owns the note?

I will take a look at these and then reply, just give me till later tonight. Most likely the loans that will be affected will be anywhere from the year 2000 to current. The information on the MERS website is poorly documented and inaccurate from what I've been told- big surprise, huh? Here's what you can do, go down to the county recorder's office in the county in which the property resides and pull all the documents on your property. You will probably have to pay a $1 a copy. No need to get it certified at this point, that will come later if you decided to do a quiet title and an attorney would request that from you when the time comes. The certified copy has to be in perfect shape, so that's why I recommend at this point that you just get regular copies so you don't have to worry about messing up the paperwork. What you're looking for is a MERS identification number or min # within the documents. Do this first and then send me a message and I'll tell you what you need to do next.

Whatever you do, don't get involved in any class action suits, not a good idea and most often not to your benefit as each homeowners situation is different. You see it is my understanding that you are better off pursuing the quiet title before a foreclosure situation can come back at you. Meaning, you want to be the plaintiff, not the defendent. This could offer an opportunity for you to get a reduction in your loan based on the fact that it's highly likely you aren't even paying the proper lien holder! You see what I'm saying? So in lieu of them wrongfully collecting on your mortgage, because the can't provide the note and aren't necessarily the legal lien holder, you might be able to get them to reduce your loan to the market value. Personally with what I know, everyone should get their house for free, because it's all ready paid for and has been since the day you signed for it! But the judges just aren't allowing it...don't ask me how they get around that one since there is so much fricken fraud going on it's not even funny.

So yes you are correct, it does have to do with the insurance, but I was told it's being done at the beginning of the transaction and the banks are paid for the amount of the house 90 days after you sign- supposedly this is where AIG comes into play. It's a scam. I'm not completely astute on the process, but as soon as I get it down, I will post...I just know that it's been going on and it continues to go on to this day and it's not just in the real estate industry! It is possible that there's additional monies passing when the foreclosure process takes place, I wouldn't doubt it for a second, but I don't know enough to understand the process. As I get more well rounded I will post what I know.



DISCLAIMER

I am not a Attorney (Lawyer) medical professional or financial adviser orJudge or Tax Expert or expert in anything, I do not offer Legal Advice orany other form of Law. I research and share Information for Fun andEntertainment and for comparison. All theexchanges contained in this email are for personal use only. This private emailmessage, including any attachment[s] is limited to the sole use of the intendedrecipient[s] and may contain Privileged and/or Confidential Information.Since I Know that I am a Freeborn man with a living Spirit, put here by a creator. I have made him Fiduciary over my Soul.
I am a Living Spirit "One of the People" sent here to live in aFleshly Body "Dust of the Earth", Living on the Dry Soil, Domiciledin a place called Idaho and Living under the Laws and Commandments of the creator and having no intentions of causing harm to anyone or anything. Not being the Subject to Slavery or the Unconscionable Contracts ofUndisclosed "Assumptions" "Presumptions""Adhesive""Invisible" and/or Color of Law and/or wordsmith. MAXIMSOF LAW is the foundation....

****AS PER THE UNITED STATES SUPREME COURT;
A. The practice of Law CAN NOTbe licensed by any state/State Schware v. Board of Examiners,353 U.S. 238, 239
B. The practice of Law is ANOCCUPATION OF COMMON RIGHT!
Sims v. Aherns, 271S.W. 720 (1925) ****


NOTICE TO PRINCIPAL IS NOTICE TO AGENT.NOTICE TO AGENT IS NOTICE TO PRINCIPAL.

Thanks a lot for your answer. What I understand is that to homeowners in distress or the ones like me looking for a lower monthly payment, the bank suggests them to be late for 90 days due to the securitization process. When the banks pooled mortgages and sold them to investors, they had to pay insurance policies to back the mortgages, also every time a mortgage is sold, the homeowner pays for insurance that backs him up in case he can't pay. In any case, it seems like every time somebody defaults is even a better business because the bank can receive several times the value of the loan from different insurance companies (buying insurance from many companies on the same loan), it can be as high as 30 times the initial loan, still the bank can foreclosure or sell the loan to somebody else who also will try to make money our of it.

[we-R-one]

Thanks a lot for your answer. What I understand is that to homeowners in distress or the ones like me looking for a lower monthly payment, the bank suggests them to be late for 90 days due to the securitization process. When the banks pooled mortgages and sold them to investors, they had to pay insurance policies to back the mortgages, also every time a mortgage is sold, the homeowner pays for insurance that backs him up in case he can't pay. In any case, it seems like every time somebody defaults is even a better business because the bank can receive several times the value of the loan from different insurance companies (buying insurance from many companies on the same loan), it can be as high as 30 times the initial loan, still the bank can foreclosure or sell the loan to somebody else who also will try to make money our of it.

You're right, they want you to default! One of the people I'm working with told me that lenders know exactly how to set you up so you have a higher chance of defaulting! AIG fell due to this insurance scam and homeowners defaulting, is what I'm being told. I think it was set up (AIG), with the mindset that once it served its purpose they would just let it fold. ok, on to the videos...

[we-R-one]

ok watched the second video first,....yes, this guy is saying the same thing...omg are they playing the song "Bridge Over Troubled Water" in the background? lmao, how ironic is that? There's going to be troubled water all right.

See these banks know they're in deep crap, and I believe this is why they're trying to get people to refinance their loans and/or offering unbelievable opportunities that seem too good to be true, such as forgiving your second loan. They need your consent! They're attempting to re-create a new contract because most likely they've shredded your note and the only way they can generate a new note is to get you to consent into a new agreement! They don't even have the right to collect a mortgage payment from you because if its a MERS loan, they've shredded the note and if they shredded the note, they have no right to your property! They are in violation of contract law! This is why I say DON'T DO IT, because right now you have some leverage by attempting a quiet title. You have a better chance of winning if you do this before you go into default.

I strongly suggest that homeowners look into this now, because once everyone else starts figuring this out, you will have an onslaught of people wanting to obtain services in order to obtain clear title. Well at that point, the system is going to be so over-loaded it could take years before you get your turn. Should you want to sell your property, you may be unable to because no one, once they understand, is going to want to buy any property unless you can show proof of having a clear title. This is the purpose of having a title exam done, also called a COTA (chain of title assessment). It serves as an affidavit it court in which an attorney can then proceed with the quiet title process.

I like this video, as it simplifies what's going on within the industry, so the average person can understand....ok, back after I view the first video.

[gripreaper]

The Fed's idea of QE3 is to buy $40 Billion a Month in Junk Mortgage Backed Securities "ad infinitum"? The bottom line is: The same crackheads that crashed the world 4 years ago are still steering the boat and playing slalom with the icebergs.

What it means is the Fed is now willing to transfer to it's balance sheet, all the toxic crap that has been hidden off the books at the big banks, giving the banks 40 BILLION a month to kick the can down the road, and sticking us with the tab.

Here's the thing. Anything less than 40 billion/ month will now cause a market crash. Think about that for a minute. Let it sink in. No going backward from Weimar now, the Rubicon has been crossed. Brilliant Keynesian economics, eh?

Bye bye gold and silver. See ya at 2500 and 75


http://www.youtube.com/watch?v=vH2NPh-lLaY

[we-R-one]

OK, so the Carl Pierson attorney(first video), I thought it was interesting that he was suggesting doing it in New York state based on where the securitization took place....I have not heard that and I'm not sure that's necessarily the avenue to take. It has been explained to me that the philosophy that serves well with the judges is the KISS method, - keep it simple stupid. If you focus on the securitization end, it can become extremely confusing. Since each case is unique that is something to be discussed on an individual basis with whomever you decide to hire. The people I'm working with have put together a network of attorneys that are suppose to be familiar with a lot of the MERS cases, in addition to quiet title procedures. They're sharing information so they know what's going on up to the minute, on cases across the country. I'm not sure that Pierson is involved with this organization for two reasons....the first being he is focusing on the securitization end and the second is the cost.....100k or more, really??? I realize that each situation is different and it's possible that some cases may take longer than others, so therefore more costly....but I can tell you, I haven't as of yet heard the cost being 100k to have a quiet title done. I can only assume he is referring to more complicated cases. I just found that amount alarming, because who can afford that!

[gripreaper]

We-R-One. Did you see the video with the room full of attorneys and their concern with the "pro se" movement and the access that people now have to information? The courts and attorneys are facing cases where they actually have to lawyer because they are being faced with the actual case law, all the way to the supreme court cases from the last 200 years, plus their own rules (which they never follow) and they are actually having to work and EARN their money.

The people are getting pissed and realize they've been railroaded and are taking matters into their own hands, and I say, "good on ya" for doing so. What is so compelling is that these same people are about to blow the lid wide open on this fraud, and the answer from the banks and Fed's point of view is to take all that toxic crap and bury it where it can't be found, before it's too late.

But 40 BILLION a month? Indefinitely till the garbage is cleaned up and the landfill is full?

[we-R-one]

We-R-One. Did you see the video with the room full of attorneys and their concern with the "pro se" movement and the access that people now have to information? The courts and attorneys are facing cases where they actually have to lawyer because they are being faced with the actual case law, all the way to the supreme court cases from the last 200 years, plus their own rules (which they never follow) and they are actually having to work and EARN their money.

The people are getting pissed and realize they've been railroaded and are taking matters into their own hands, and I say, "good on ya" for doing so. What is so compelling is that these same people are about to blow the lid wide open on this fraud, and the answer from the banks and Fed's point of view is to take all that toxic crap and bury it where it can't be found, before it's too late.

But 40 BILLION a month? Indefinitely till the garbage is cleaned up and the landfill is full?

Haven't seen it, please send to me or post here, would be most interested. Isn't Rod Class working on something like that? It is my belief that attorneys have no idea what they represent as like many, they are educated idiots. I'm not making fun of them as all of us have been put into that position. Just to be clear when I say "educated idiot" I'm referring to someone who has a formal eductation which in most cases isn't an education but rather indoctrination to the the belief system of what "they" want you to think is true.

I can only imagine that attorneys would have no desire to uphold common law as it would put them out of business due to the wiping out of all the statue laws that have been put into place to control the masses.

[ThePythonicCow]

They're attempting to re-create a new contract because most likely they've shredded your note and the only way they can generate a new note is to get you to consent into a new agreement!

Here's what looks like an interesting article on this thread's topic:



US banks' disorganization forced 800,000 homeowners into foreclosure

As a result of banks' disorganization and understaffing - particularly at the peak of the crisis in 2009 and 2010 - homeowners were often forced to run a gauntlet of confusion, delays, and errors when seeking a mortgage modification.

But while evidence of these problems was pervasive, it was always hard to quantify the damage. Just how many more people could have qualified under the administration's mortgage modification program if the banks had done a better job? In other words, how many people have been pushed toward foreclosure unnecessarily?

A thorough study released last week provides one number, and it's a big one: about 800,000 homeowners.

The study's authors - from the Federal Reserve Bank of Chicago, the government's Office of the Comptroller of the Currency (OCC), Ohio State University, Columbia Business School, and the University of Chicago - arrived at this conclusion by analyzing a vast data set available to the OCC. They wanted to measure the impact of HAMP, the government's main foreclosure prevention program.

What they found was that certain banks were far better at modifying loans than others. The reasons for the difference, they established, were pretty predictable: The banks that were better at helping homeowners avoid foreclosure had staff who were both more numerous and better trained.

More at http://www.presstv.ir/usdetail/261266.html

[we-R-one]

They're attempting to re-create a new contract because most likely they've shredded your note and the only way they can generate a new note is to get you to consent into a new agreement!

Here's what looks like an interesting article on this thread's topic:



US banks' disorganization forced 800,000 homeowners into foreclosure

As a result of banks' disorganization and understaffing - particularly at the peak of the crisis in 2009 and 2010 - homeowners were often forced to run a gauntlet of confusion, delays, and errors when seeking a mortgage modification.

But while evidence of these problems was pervasive, it was always hard to quantify the damage. Just how many more people could have qualified under the administration's mortgage modification program if the banks had done a better job? In other words, how many people have been pushed toward foreclosure unnecessarily?

A thorough study released last week provides one number, and it's a big one: about 800,000 homeowners.

The study's authors - from the Federal Reserve Bank of Chicago, the government's Office of the Comptroller of the Currency (OCC), Ohio State University, Columbia Business School, and the University of Chicago - arrived at this conclusion by analyzing a vast data set available to the OCC. They wanted to measure the impact of HAMP, the government's main foreclosure prevention program.

What they found was that certain banks were far better at modifying loans than others. The reasons for the difference, they established, were pretty predictable: The banks that were better at helping homeowners avoid foreclosure had staff who were both more numerous and better trained.

More at http://www.presstv.ir/usdetail/261266.html

This article says a lot. No surprise that the big banks aren't cooperating. They could care less as they all ready got their money and then some. You see if you default, which is what they want so they can cash in on the insurance, it just allows them to start with another and create the process all over again.

I need to find out what the statue of limitations are to go back and dispute wrongfully being foreclosed on...this has always been a concern of mine because there are so many people who have bought foreclosed homes and have no idea that the previous buyer may have been wrongfully kicked out by the bank who was "pretending" to be the legal owner when really they had no right to the property due to the clouded title.

I really question what the true purpose of this study was for? A waste of tax payer's money maybe? They know damn well what they're doing and it's not helping the people. Could it be that they wanted to find out who was doing proper modifications so they could eventually shut them down....These big banks have more money than what they know what to do with, there's no excuse for being understaffed and undertrained. Why people even put their monies into the upper echelon banks is beyond me.

[cloud9]

ok watched the second video first,....yes, this guy is saying the same thing...omg are they playing the song "Bridge Over Troubled Water" in the background? lmao, how ironic is that? There's going to be troubled water all right.

See these banks know they're in deep crap, and I believe this is why they're trying to get people to refinance their loans and/or offering unbelievable opportunities that seem too good to be true, such as forgiving your second loan. They need your consent! They're attempting to re-create a new contract because most likely they've shredded your note and the only way they can generate a new note is to get you to consent into a new agreement! They don't even have the right to collect a mortgage payment from you because if its a MERS loan, they've shredded the note and if they shredded the note, they have no right to your property! They are in violation of contract law! This is why I say DON'T DO IT, because right now you have some leverage by attempting a quiet title. You have a better chance of winning if you do this before you go into default.

I strongly suggest that people look into this now, because once everyone else starts figuring this out, you will have an onslaught of people wanting to obtain services in order to obtain clear title. Well at that point, the system is going to be so over-loaded it could take years before you get your turn. Should you want to sell your property, you may be unable to because no one, once they understand, is going to want to buy any property unless you can show proof of having a clear title. This is the purpose of having a title exam done, also called a COTA (chain of title assessment). It serves as an affidavit it court in which an attorney can then proceed with the quiet title process.

I like this video, as it simplifies what's going on within the industry, so the average person can understand....ok, back after I view the first video.

we-R-one,
i was doing some research for a relative who is having a lot of trouble paying his mortgage and that's how I saw the videos. As I said before, we have never been late in our payments but we'd like not to pay that much every month as our house is priced at less than half of what we owe.

Today I talked to my sister about this thread and she told me that chase has been calling her very persistently, she didn't know what they wanted so she decided to take one of those calls, to make the story short, they wanted to offer a new "Obama program" that would reduce the monthly payments I guess by refinancing again at 30 years as we have been paying for 9 years, they told her that if we were interested, the monthly payments would be at least five hundred less, that it was not a mortgage modification and that chase was offering it because we have never been late.

Would this mean that they don't own the note? I think it's very possible and I'm going to the county and find out. Have you ever heard of a Bloomberg report that homeowners can buy in which they follow the note and the mortgage at every step? I have no idea how to do this but whatever I learn I'll share it here.

Many times I have wondered what would it happened if everybody who owe to banks not just mortgages but credit cards and other credit lines, would refuse to pay? What could the banks do?
Unfortunately the system is so complicated and just a very few people know how it really works, it's almost impossible to find a lawyer willing to help. They really have no idea... so far all I have seen is some people fighting traffic tickets which is just lame, they feel good because they are "beating" the system but are they really accomplishing anything?

[we-R-one]

we-R-one,
i was doing some research for a relative who is having a lot of trouble paying his mortgage and that's how I saw the videos. As I said before, we have never been late in our payments but we'd like not to pay that much every month as our house is priced at less than half of what we owe.

Today I talked to my sister about this thread and she told me that chase has been calling her very persistently, she didn't know what they wanted so she decided to take one of those calls, to make the story short, they wanted to offer a new "Obama program" that would reduce the monthly payments I guess by refinancing again at 30 years as we have been paying for 9 years, they told her that if we were interested, the monthly payments would be at least five hundred less, that it was not a mortgage modification and that chase was offering it because we have never been late.

Would this mean that they don't own the note? I think it's very possible and I'm going to the county and find out. Have you ever heard of a Bloomberg report that homeowners can buy in which they follow the note and the mortgage at every step? I have no idea how to do this but whatever I learn I'll share it here.

Many times I have wondered what would it happened if everybody who owe to banks not just mortgages but credit cards and other credit lines, would refuse to pay? What could the banks do?
Unfortunately the system is so complicated and just a very few people know how it really works, it's almost impossible to find a lawyer willing to help. They really have no idea... so far all I have seen is some people fighting traffic tickets which is just lame, they feel good because they are "beating" the system but are they really accomplishing anything?

Yes, I believe there's a very high probability they don't have the note as they are one of the big banks. They can see what's going on in these court cases and now they're scrambling. I would not submit to their offers. Take the clouded title route first. You will have more leverage and in essence you could end up getting exactly what you want by reducing your loan to meet the market value as they could be forced in court to comply. Even better, you might(though never a guarantee) be able to win your house free and clear! Can you say Christmas in October! lol

I have not heard of the Bloomberg report for homeowners....I'd want to know who's directly promoting it in order to determine if there's any "skewing" of data going on behind the scenes, let me ask. It's hard to know who's giving you accurate information and what they're basing it on. I can only hope that people stop supporting these banks. I have done so myself and stopped paying all my credit cards. I no longer care about my credit and the games they have created. I refuse to feed these big banks who do nothing but enslave the people. So far I have done quite well in fending them off. The credit cards are just as much as a scam as the mortgages. Most people don't have the balls, and I do understand that. I am fortunate to be surrounded by those who can help defend should I need the services. It's a game, that's all this is, and you have to learn to play it if you want to win. They are counting on you being lazy and not wanting to fight. Well....more and more of us are stepping up and calling bull**** which is beginning to have an effect on the system. Little victories even if they're beating a traffic ticket, are the stepping stones needed in helping create the bridge for others to walk over.

Those who pursue a pro se approach will most likely be in for the fight of their lives, but I say hats of to them for their courage and perseverance as it they who are creating the pinnacles of a new reality in which the rest of us will be able to reap the fruits of their labor.

[gripreaper]

Here's what QE really looks like in graphic, and where it ends up:

http://demonocracy.info/infographics/usa/federal_reserve-qe3/money_printing-2012-2013.html

[Rocky_Shorz]

wow, isn't everyone Glad QE III was slammed down our throats before today's news?

all time record Profits by Fed Reserve banks like JP Morgan...


JPMorgan handed in a record quarterly profit of US$5.7 billion, up 34 per cent from a year ago as the bank set aside less money for bad loans. Earnings were $1.40 per share, far exceeding the $1.21 predicted by analysts polled by FactSet.

link (http://www.globaltvedmonton.com/money/tsx+heads+for+positive+open+jpmorgan+beats+estimates+posts+record+earnings/6442732394/story.html)

[jackovesk]

wow, isn't everyone Glad QE III was slammed down our throats before today's news?

all time record Profits by Fed Reserve banks like JP Morgan...


JPMorgan handed in a record quarterly profit of US$5.7 billion, up 34 per cent from a year ago as the bank set aside less money for bad loans. Earnings were $1.40 per share, far exceeding the $1.21 predicted by analysts polled by FactSet.

link (http://www.globaltvedmonton.com/money/tsx+heads+for+positive+open+jpmorgan+beats+estimates+posts+record+earnings/6442732394/story.html)


Well Rocky,

All I wish to say is...

This sheer MADNESS, coupled with these OBSCENE CRIMINAL $$$Profits are...(Using the PTW own Favorite-Language with an UN in front of the most Abused word in the English Dictionary)


UNSUSTAINABLE..!Arrogance/Hubris (WILL-BE) the PTW's downfall...:yes4:

[Rocky_Shorz]

it's all coming to a head right now, have you read Ben Fulford's latest?

the Iran war has been cancelled...

Iran just handed a solution the the Syria crisis to international leaders, they even want the mess to calm down...

Russia is still friends with Turkey...

all the PTB plans are falling apart as fast as they get them rolling...


as Charlie Sheen likes to say...

"We're Winning!!!"

[gripreaper]

it's all coming to a head right now, have you read Ben Fulford's latest? The Iran war has been cancelled...Iran just handed a solution to the Syria crisis to international leaders, they even want the mess to calm down...Russia is still friends with Turkey...all the PTB plans are falling apart as fast as they get them rolling...as Charlie Sheen likes to say..."We're Winning!!!"

This thread is about the 40 billion a month in mortgage backed securities that the US government has agreed to buy for eternity, until all of the assets of the people have been transferred to the Fed. These assets, which belong to the American people, are being absconded and stolen from them. Then they are being sold to the Fed in exchange for more debt based fiat currency which is given to the banks and NOT circulated amongst the people. This dilutes all existing fiat in circulation, destroying the purchasing power of consumers. More consumers can no longer afford their mortgages or the cost of fuel, so more and more fall into poverty and lose their homes. The Fed takes these MBS and turns them into derivatives, which are bought by those very same consumers retirement accounts and municipalities. These all end up as junk and eventually default.

One day, when the leverage is at maximum, the money in circulation has come to a screeching halt and very few have any resources left, and the whole world is in debt up to their eyeballs to the criminal banksters, and the debt can no longer be serviced due to the lack of GDP, they will "pop" the derivatives bubble, and all of the alleged assets held by the municipalities and the retirement accounts will vanish and disappear in an instant.

So, the overt agenda, which is there for window dressing, looks like the PTB are losing and Fulford and his ninja's are going to save the world, when in fact, the agenda goes on covertly in stealth without even a slight whimper from the masses.

We should be outraged over the QE infinity, but no one even seem to give a rats a$$.

For once, Lindsay Williams is right, even though I forgot to bring my paper and pencil to his last interview with Alex Jones. It's the people who are asleep, waiting for saviors, and DO NOTHING as the corporate mercenaries to the cabal ( who are getting all the worthless money) steal everything in sight right from under our noses, totally destroying the currency and stopping the wheels of production.

So, the fear mongering going on in the middle east is just a distraction, and so is Fulford and Wilcock. The real show is happening right in our wallets while we sit on our asses, and no one seems to notice.

[SilentFeathers]

We should be outraged over the QE infinity, but no one even seem to give a rats a$$.

For once, Lindsay Williams is right, even though I forgot to bring my paper and pencil to his last interview with Alex Jones. It's the people who are asleep, waiting for saviors, and DO NOTHING as the corporate mercenaries to the cabal ( who are getting all the worthless money) steal everything in sight right from under our noses, totally destroying the currency and stopping the wheels of production.

So, the fear mongering going on in the middle east is just a distraction, and so is Fulford and Wilcock. The real show is happening right in our wallets while we sit on our asses, and no one seems to notice.

For once I'll have to agree with you, well, twice.....well, for the third time, hmmm, anyways, I'm agreeing with you. :)

Lindsay isn't taking so long to explain or say things clearly anymore is he?

Time is growing short......it will most likely get quite ugly before things calm down again and the cycle starts all over again.

It'll soon get to the point to where they won't even write the legislation to do what they want to do and just do it regardless, we are almost there now and most people don't even have a clue.....those that do have a clue don't know what to do or they just simply do not care.

[gripreaper]

Lindsay isn't taking so long to explain or say things clearly anymore is he? Time is growing short......it will most likely get quite ugly before things calm down again and the cycle starts all over again.

Yup. Like Lindsay says, there will be tons of food on the shelves, you just wont be able to afford to buy it. Tankers full of oil parked on the oceans, but nowhere to take it because you cannot afford to buy it. The measly pittance you receive at your slave JOB (Just Over Broke) will not cover your slave interest payments to the bankster cabal.

Only those who have jumped ship, walked away from the slave system as much as possible, have begun to take PERSONAL responsibility for their own basic survival needs, and have woken up to the lethargy, apathy, and death being fed to us in our air, water and food, will be the remnant who heralds in the new paradigm.

If all these nations and heads of state are waking up, and are finally aware of the small handful of cabalistic psychopaths running the planet for the last several hundred thousand years, then why don't they just take them out? Why not a "night of a thousand knives" and just get it over with? I don't buy...oh, we should follow their legalistic bullsh!t tribunal courts with their black robed magistrates and give them a fair trial at the International Court, while we all send in our sovereign declarations to the Hague?

What does it say at the bottom of every post I post?

Just because I took the Red Pill does not mean I washed it down with Kool-aid !!!!!!!! (inordinate number of exclamation points!)

[SilentFeathers]

Here's a good way to look at it lol!


The Fed’s effort “not only helps strengthen the US economic recovery, but by boosting US spending and growth it has the effect of helping support the global economy as well”, Mr Bernanke said on the last day of International Monetary Fund annual meetings in Tokyo on Sunday.
http://www.ft.com/intl/cms/s/0/f1eb90e0-15f3-11e2-b6f1-00144feabdc0.html#axzz29KFScRht

[Rocky_Shorz]

This thread is about the 40 billion a month in mortgage backed securities that the US government has agreed to buy for eternity, until all of the assets of the people have been transferred to the Fed. These assets, which belong to the American people, are being absconded and stolen from them. Then they are being sold to the Fed in exchange for more debt based fiat currency which is given to the banks and NOT circulated amongst the people. This dilutes all existing fiat in circulation, destroying the purchasing power of consumers. More consumers can no longer afford their mortgages or the cost of fuel, so more and more fall into poverty and lose their homes. The Fed takes these MBS and turns them into derivatives, which are bought by those very same consumers retirement accounts and municipalities. These all end up as junk and eventually default.

One day, when the leverage is at maximum, the money in circulation has come to a screeching halt and very few have any resources left, and the whole world is in debt up to their eyeballs to the criminal banksters, and the debt can no longer be serviced due to the lack of GDP, they will "pop" the derivatives bubble, and all of the alleged assets held by the municipalities and the retirement accounts will vanish and disappear in an instant.

So, the overt agenda, which is there for window dressing, looks like the PTB are losing and Fulford and his ninja's are going to save the world, when in fact, the agenda goes on covertly in stealth without even a slight whimper from the masses.

We should be outraged over the QE infinity, but no one even seem to give a rats a$$.

For once, Lindsay Williams is right, even though I forgot to bring my paper and pencil to his last interview with Alex Jones. It's the people who are asleep, waiting for saviors, and DO NOTHING as the corporate mercenaries to the cabal ( who are getting all the worthless money) steal everything in sight right from under our noses, totally destroying the currency and stopping the wheels of production.

So, the fear mongering going on in the middle east is just a distraction, and so is Fulford and Wilcock. The real show is happening right in our wallets while we sit on our asses, and no one seems to notice.

well I keep forgetting I'm on a forum with a bunch of rich people with massive retirements funds to worry about, my bad...

I'm in a tent across the pond from Modwiz...

everything I had saved was gone years ago, the house, cars awesome income and retirement fund to last a lifetime...

I made the mistake of applying for a grant for a free energy invention...

instead of killing me, they stripped away everything I had...

I'm not sad, I have learned what true happiness is...

I started this thread as a warning to everyone still holding a wallet with green inside...

I've been screaming about Maiden Lane for years since this first started, now they are at a point they don't care we know what they are doing...

[gripreaper]

I've been screaming about Maiden Lane for years since this first started, now they are at a point they don't care we know what they are doing...

You are one of the few here who has ever mentioned Maiden Lane LLC. Yes, they hold all the cards, all the securities.

Sorry about your loss. Is it warm where you are living in a tent?

[Rocky_Shorz]

well we don't ice fish very often in San Diego...

I have a front row seat for #OWS depending on how the election goes, so it isn't all bad... ;)

Maiden Lane 1 2 and 3...

take a look at what is sitting on Maiden Lane in London, it says it all...

[we-R-one]

we-R-one,
Have you ever heard of a Bloomberg report that homeowners can buy in which they follow the note and the mortgage at every step? I have no idea how to do this but whatever I learn I'll share it here.

Sorry it's taken me so long to answer this question...I just couldn't remember who had asked me and which thread! Glad to come across this tonight! The Bloomberg report is not verifiable, so it's a complete waste! It's no different than going on the MERS sight for information....basically....you get to see what they want you to see, end of story as the information on there is from unknown sources! The only way to find out what's really going on with your note is to have a COTA(chain of title assessment) done on your property.

[jackovesk]

it's all coming to a head right now, have you read Ben Fulford's latest?

the Iran war has been cancelled...

Iran just handed a solution the the Syria crisis to international leaders, they even want the mess to calm down...

Russia is still friends with Turkey...

all the PTB plans are falling apart as fast as they get them rolling...


as Charlie Sheen likes to say...

"We're Winning!!!"

That's all good if you believe in anything Ben Fulford has to say...????

Me, I'd rather do my own research than rely on Mr. Disinfo himself...:faint:

Disinfo you say Jackovesk..???

Yep, that's EXACTLY what I said...:yes4:

To prove my point...

:attention: Please anyone here at all, simply just name 1 Prediction/Assumption/Statement of Ben Fulford's that has ever been Accurate let alone Truthful...???

[Rocky_Shorz]

he delves into unprovable areas...

but much of what he sharing right now is really going on... you need to know which are mere mind spins, and what has substance...

anyone know the link between Bush and the Ambassador to Libya? ;)

¤=[Post Update]=¤

shipment of $100 bills captured on the way to the Fed...

woo hoo!!!

Greenbacks for the people!!!

[jackovesk]

he delves into unprovable areas...

but much of what he sharing right now is really going on... you need to know which are mere mind spins, and what has substance...

anyone know the link between Bush and the Ambassador to Libya? ;)

¤=[Post Update]=¤

shipment of $100 bills captured on the way to the Fed...

woo hoo!!!

Greenbacks for the people!!!

Rocky Rocky Rocky :no:


shipment of $100 bills captured on the way to the Fed...


http://www.youtube.com/watch?v=kmAyn5O-u5Y
http://www.youtube.com/watch?v=kmAyn5O-u5Y

:pound:...:pound:...:pound:

[Rocky_Shorz]

heheh...

I walk the tight rope of fear porn soo often here, I get to have some fun too... ;)

[The Lawnman]

We-R-One. Did you see the video with the room full of attorneys and their concern with the "pro se" movement and the access that people now have to information? The courts and attorneys are facing cases where they actually have to lawyer because they are being faced with the actual case law, all the way to the supreme court cases from the last 200 years, plus their own rules (which they never follow) and they are actually having to work and EARN their money.

The people are getting pissed and realize they've been railroaded and are taking matters into their own hands, and I say, "good on ya" for doing so. What is so compelling is that these same people are about to blow the lid wide open on this fraud, and the answer from the banks and Fed's point of view is to take all that toxic crap and bury it where it can't be found, before it's too late.

But 40 BILLION a month? Indefinitely till the garbage is cleaned up and the landfill is full?

Haven't seen it, please send to me or post here, would be most interested. Isn't Rod Class working on something like that? It is my belief that attorneys have no idea what they represent as like many, they are educated idiots. I'm not making fun of them as all of us have been put into that position. Just to be clear when I say "educated idiot" I'm referring to someone who has a formal eductation which in most cases isn't an education but rather indoctrination to the the belief system of what "they" want you to think is true.

I can only imagine that attorneys would have no desire to uphold common law as it would put them out of business due to the wiping out of all the statue laws that have been put into place to control the masses.

Here is the video referenced herein:
Connecticut Judges rubberstamp rules and nominations without discussion 2012

https://www.youtube.com/watch?feature=player_embedded&v=Oz-KuBQfqE0#!

[we-R-one]

Silly attorneys...don't they realize that they're slitting their own throats by their ridiculous charges??? So let me get this straight...they're annoyed because many are going pro se and cutting them out of the pie...and yet their very job is to go after those who would typically be their meal ticket, rob them for all their worth, then turn around and expect the very same defendant that they just raped in court, to hire one of their own, and pay their ridiculous fees when really, it's THE STATE, who the attorney represents, not the poor soul who's hired them....tsk, tsk, tsk.....lookin more and more like the gig is up!

Thanks for finding the video Lawnman!

[gripreaper]

Yes We-r-One, that is the tape I have been referring to for weeks, but could not find again! Thanks for locating that Lawnman.

This may warm your hearts though...

BofA profit falls 95% as legal problems continue
BofA posts $340 million in net income in the third quarter after recording $1.6 billion in legal expenses. It had earned 6.2 billion a year earlier.
http://articles.latimes.com/2012/oct/18/business/la-fi-bofa-earnings-20121018

JPMorgan Chase & Co., bracing for higher legal costs, set aside an additional $684 million in the third quarter for litigation expenses.

http://www.latimes.com/business/money/la-fi-mo-jpmorgan-sets-aside-684-million-lawsuits-20121012,0,6546294.story

The heat is on, but it's not hot enough in the kitchen yet, as these arrogant arseholes don't care. The amount of leverage has increased in proportion to the government backed fiat entering the system, and circulates in the pockets of the elite puppeteers who are swimming in the worthless crap and signing their own death warrants.

Interesting dichotomy, that the very greedy psychopathic puppets on Wall Street who are getting filthy rich on tearing down the entire global financial structure, are going to be standing next to you in the bread lines when it collapses. Oh, the irony of it all, how the universe has a sense of humor.

Here you have WaMu assets never transferred to Chase, and yet they keep claiming "via affidavit" that they are:

So, JPM allegedly “purchased” mortgage loans from the FDIC out of the WaMu failure, but there is no schedule of what loans were purchased, no assignments, no allonges, no endorsements, nothing that transferred ownership of the loans from WaMu to Chase. However, as we all know, JPM goes around the country touting that it is the “successor in interest to WaMu” (which it has admitted in Federal Court that it is not) and relies on the amorphous “FDIC Affidavit” which, as far as what the “Affidavit” is proffered for, is directly contradicted by the sworn deposition testimony of JPM’s authorized representative WHO WAS FORMERLY WITH WAMU AND WAS PICKED UP BY JPM.

http://foreclosuredefensenationwide.com/?p=469

Who cares, right?

[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? :embarassed:

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/bradley-t-borden/did-the-irs-cause-the-fin_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/2012/10/18/washington-federal-vs-countrywide-bofa-in-seattle-washington-breach-of-mortgage-pools/

Like a pool of piranha in a feeding frenzy!


http://www.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]

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]

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 (http://www.goldenjackass.com), 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 (http://www.foxnews.com/us/2013/06/15/emergency-manager-detroit-wont-pay-25b-it-owes/), 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.