If there never was a serious intention to honor the civil contract, then yes we have crime.
How many first- or second-payment defaults are there with mortgages? A statistically insignificant number I’d be willing to wager. Those who DO take out mortgages with an intent to defraud the lender should be charged criminally.
That said.....comparing a struggling homeowner, (even if he or she bit off more than they could chew), who defaults on a mortgage with what these conniving and finagling banksters have done is just plain wrong.
If there never was a serious intention to honor the civil contract, then yes we have crime.
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The real purpose of the MERS veil of secrecy was to allow the wall street banks to sell the same mortgage into multiple SPV’s as they never transferred the original paper that wouldn’t get caught... with the proceeds from the homeowner split a few ways the obligation to the investors couldn’t be met , the SPV’s/Trusts would default , the wall streeters would collect on their insurance and dissolve the trust... the investors would be screwed with no way to determine what actually went wrong ... pretty neat larceny ... but to work they have to refrain from getting TOO greedy ,, don’t inflate real estate too quickly and don’t scam the insurers or investors too many times...