[Lurker]

I heard that Chase just lost a big lawsuit with Fannie regarding the lack of documentation Chase has on mortgages backed by Fannie.

If true that's huge. Can you by any chance tell me where you read that?

Thanks.

L

[Dem Guard]

They should never have allowed the banks to sell their loans to these government agencies in the first place. If they wrote it, they should have to live with it, or find a willing buying in the private sector to take on the risk.

[Neidermeyer]

It’s not just Chase ,, it’s all the “lenders” that used the fraudulent company MERS to hide transfers and assignments ,, no docs today , no docs tomorrow ,,,

http://livinglies.files.wordpress.com/2010/09/9-09-10-ny-mers-no-authoriy-dismissed.pdf

http://stopforeclosurefraud.com/2010/09/09/ny-judge-spinner-denies-deutsche-mers-for-not-recording-mortgage-make-up-affidavit-and-assignment/

FNM FRE have nothing to show for what they bought , the chain was broken at the very first link...

[driftdiver]

Its definitely true as one of my customers hired another 100 people to support a big bank affected by the decision. I don’t have any specific case information.

I’ve tried doing a search but there are too many lawsuits against the specific bank.

Here is a link with some background on what they are doing - http://online.wsj.com/article/SB10001424052748704343104575033543886200942.html