More Evidence Exposing Banks Sold the Same Mortgage Numerous Times
- Naked Conch - Posted by Matt Gardi - March 20, 2012
Whether you are being foreclosed on, have just paid off your mortgage, purchased a property recently, or wonder why your pension fund is under funded, this ought to concern you greatly! Gary Victor Dubin, a Hawaii Foreclosure Defense Attorney recently analyzed the contents of three WaMu Mortgage Loan Trusts. These are the trusts that securitized mortgages are sold to.
Some mortgages appear to have been sold as many as SIX times! You can read the full report "Securitized Distrust" by clicking here. Of note is this little gem...
This effects everyone.
- If you just paid off your mortgage and feel happy about that Satisfaction of Mortgage that is on file, you may just find another investor coming out of the mess with a claim you still owe them the mortgage.
- If you just bought a property, and think you have title clean and free, you just may find out there is a lingering mortgage or two...or six, hanging over your head!
- If you are being foreclosed on, you might just be losing your house to the very same entity that defrauded your pension fund with Mortgage Backed Securities that contain multiple pledged mortgages!
- If you have just watched your home value plummet as a result of diminishing confidence in title histories, ultimately effecting our tax base, and the revenue of every public agency in the Keys, you can thank the banks!
This isn't just an anomaly, this is wide spread, systematic fraud. We are all victims.
- Naked Conch - Posted by Matt Gardi - March 20, 2012
Whether you are being foreclosed on, have just paid off your mortgage, purchased a property recently, or wonder why your pension fund is under funded, this ought to concern you greatly! Gary Victor Dubin, a Hawaii Foreclosure Defense Attorney recently analyzed the contents of three WaMu Mortgage Loan Trusts. These are the trusts that securitized mortgages are sold to.
Some mortgages appear to have been sold as many as SIX times! You can read the full report "Securitized Distrust" by clicking here. Of note is this little gem...
It’s no wonder that the Wall Street MBS scheme collapsed. Last night we ran a random audit on WaMu Mortgage Pass-Through Certificates, Mortgage Loan Trusts. One loan was found in 6 different trusts, another loan was found in FIVE trusts’ original SEC loan level data, 39 were listed in 3 trusts, and 503 were listed in two separate trusts.Folks, I have discussed frequently the reason Banks have had to flood our Clerk's Office and land records with fraudulent documents to prove they own a mortgage. It is because they defrauded investors when they securitized the mortgages and destroyed any record of them... including the original notes and mortgages.
The winner so far is a NEW YORK condo, loan number WaMu loan # 714934858, appeared in 6 DIFFERENT trusts from May through November 2006…
This effects everyone.
- If you just paid off your mortgage and feel happy about that Satisfaction of Mortgage that is on file, you may just find another investor coming out of the mess with a claim you still owe them the mortgage.
- If you just bought a property, and think you have title clean and free, you just may find out there is a lingering mortgage or two...or six, hanging over your head!
- If you are being foreclosed on, you might just be losing your house to the very same entity that defrauded your pension fund with Mortgage Backed Securities that contain multiple pledged mortgages!
- If you have just watched your home value plummet as a result of diminishing confidence in title histories, ultimately effecting our tax base, and the revenue of every public agency in the Keys, you can thank the banks!
This isn't just an anomaly, this is wide spread, systematic fraud. We are all victims.
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