White Paper DECONSTRUCTING THE BLACK MAGIC OF SECURITIZED TRUSTS
Posted by 4closureFraud on October 27, 2011 · 18 Comments
DECONSTRUCTING THE BLACK MAGIC OF SECURITIZED TRUSTS:
HOW THE MORTGAGE-BACKED SECURITIZATION PROCESS IS HURTING THE BANKING INDUSTRY’S ABILITY TO FORECLOSE AND PROVING THE BEST OFFENSE FOR A FORECLOSURE DEFENSE
From 2003 to 2007, Florida saw the largest real estate boom in its history. Real estate sold at astonishing prices as people were sold a bill of goods known as the “American Dream.” But for many, that American Dream turned out to be the American Nightmare. From sub-prime mortgage lending and predatory practices by mortgage brokers, lenders and improper securitization of mortgages, this era of economic boom led to the largest crash in the history of the real estate market2, a crash from which Florida has yet to recover, and to which we have not yet seen the end. The full extent of the damage inflicted by these practices has not yet been felt, but millions of homeowners nationwide have suffered from financial crisis, foreclosure and bankruptcy. And what is worse yet is that the systemic fraud and illegal conduct of the banks has continued to pervasively infect court systems throughout the nation; further, the Florida court system has suffered from extreme abuse at the hands of the banks that have high jacked it and effectively turned it into a private collection agency for the banking industry.
Full paper below…
DECONSTRUCTING THE BLACK MAGIC OF SECURITIZED TRUSTS
And I'm certain none of the banksters saw any problem with lending $500,000+ to a guy who earns $50,000 anually. Hey, there's no risk here. It's only risky if you hold the paper!