Posted on 10/19/2010 10:58:33 AM PDT by Fred
Bank of America alleged in a court filing this June:
It appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies
As I have repeatedly pointed out, the failure of the mortgage originators and banks to prepare and record proper documentation has led to an epidemic of fraud. The pledging of the same mortgage again and again to different trusts related to mortgage backed securities is just one result.
And as long-time foreclosure investigator Nye Lavalle writes:
On thousands of occasions I stated to regulators, CEOS, banks, Fannie and Freddie that the practices of the banks were that they were double and multi-pledging assets and pledging paid off and refinance notes to securitizations. This is something April, Max [Gardner] and I have discussed for years now. Now, they come and admit that each of my allegations were true. Without analyzing the deal, as complex as they are, you WILL NEVER KNOW IF THE FORECLOSING PARTY HAS “ANY” RIGHT TO FORECLOSE!!!
There are several videos and docs on the blog that cover these FACTS.
http://www.scribd.com/doc/33364308/Boa-Answer-to-Freddie-Objection-in-Re-Taylor-Bean-amp-Whitaker-Mortgage-Corp
What if those things don’t happen?
Then your house just went up by 10% in value...
You wanted concrete proof of widespread lost mortgage documentation? Feast your eyes upon this:
BOMBSHELL: Check Out This Industry Catalog And Price Sheet For FABRICATED Foreclosure Documents
A foreclosure lawyer sent sent this little beauty by email last night. I had no idea the market was so robust for replacing missing mortgage documents with forgeries. And apparently there is inflation within the criminal cabal that engages in foreclosure document fabrication.
Prices to replace missing documents keep going up . . . ;-)
It is time for outraged Americans to protest in the streets and shut down all air, train and bus travel just like the Greeks are doing. Ooops ! Sorry about that: I forgot the Spanish and French and Germans. Americans act like a bunch of weak kneed pussies when compared to other western nations . . .
Document recovery, not document fabrication.
More ex-Tex poor reading.
Sooo...an inside glimpse as to how a Democrat Runs a Bank.
If you are lucky, your state requires that all liens on your property be filed. Then you just have to ask your local office to show all the filed liens, and whoever has the mortgage lien, that’s the people you have to pay, and are the ones who have the right to foreclose.
If they sold off the right to the cash flow, that’s of no concern of yours, you pay them, and after that they can do what they want with the money.
liabilities who says Obama isn’t a president that gives. /s
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