They used your Signed Note to MAKE and create Money.
Your signature paid for the Home at closing. You OWN It.
Banks have done it (Scam) for 100+ years.
You wouldnt know IF they sold it, as long as they continued to SERVICE the debt.
Ive never represented myself as an xpert, though Ive taken on a major bank in a credit card case (Won), and also defeated a 2nd Major Bank-2nd largest Bank in America in court, regarding my mortgage (Death Pledge), after/when I noticed discrepencies and fraud related to TILA and RESPA issues and subsequently filed Quiet Title.
Free and Clear Home.
I believe that Your consent is voluntary in Court, and only when jurisidiction is not challegned, do they have authoroity. State and Fed BK courts are where most people are having success, district courts are KANGAROO like, and rush the dckets to get to Summary Judgment, (Not hearing the case or trying it) so there is a strategy that must be employed (Court Transcripts etc)
One thing we have not discussed yet is Credit Defaut Swaps..
Credit Default Swaps.
Under the terms of the Deed of Trust, it says something like “upon complete satisfaction of the note, the lender/Trustee must reconvey the property back to the homeowner”. By this very definition, your loan has been satisfied and your lender does not have the right to foreclose on your loan.
When Wall Street securitized loans...ANYONE (and I mean ANYONE) can buy an insurance policy against a loan in the event that that loan defaults. Under a traditional insurance framework, only a party with a vested interest can buy an insurance policy, but this is not the case in a credit default swap. Let's say you own 1/100th of the loan (meaning you are one of 100 investors in the pool), you can buy a credit default swap policy for the FULL FACE VALUE of the loan....such that in the event that the loan defaults, you get paid in full.
Let me repeat that in case you missed it.
Let's say John Doe works at a fast food joint on a minimum wage...goes out and gets a loan for a $1 million dollars with no money down. The loan gets securitized and is sold to 100 investors. Let's say ABC Bank is the originator and underwriter for the loan and is also one of those investors...in other words, ABC owns 1/100th of the $1M loan....ie. $10,000.
ABC takes out a Credit Default Swap insurance policy through AIG for the full $1M. Because ABC knows full well that John Doe is likely to default on the loan, it is in ABC's interest to insure the loan against the default.
Once John Doe defaults on the loan...ABC gets paid in full for the whole $1M. This $1M goes to satisfy the loan in its entirety.
In other words, the loan has been fully satisfied.
The debt has been paid in full.
Yet...ABC continues to collect on the loan...and even goes to the extent of foreclosing on the homeowners.
Talk about "having your cake and eat it too".
How many times do these people need to be paid to satisfy their greed?! How many bail outs does it take before people start saying "ENOUGH!"
When homeowners go to court and present evidence that their loan has been fully satisfied and paid in full, the banks are backing off..and offering sizable settlements. Of course banks do not want you to know this sort of information and have gone to great lengths to hide it from the public.
Some good legal researchers recently gained access to a vast database of all Credit Default Swaps in the USA. It is my belief that most loans are subject to credit default swaps.
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The curtain is being pulled on the money scams, Foreclosure cases and LAW have Proven this, and it is now being practiced in the courtrooms, and its only getting worse for Banksters.
US Supreme Court in Carpenter, states that possibility exists; that a Note can be separated from the Deed of Trust/Mortgage, and that it is a nullity when it happens.
Banks decoupled the note from the Deed of Trust (Mortgage) = Nullity* = FILE Quiet Title.
*Carpenter v. Longan, 83 U.S. 271, at 274 – “…while an assignment of the latter alone is a nullity”.
Nullity means VOID. Empty. Dead. Unenforceable.
….Whether the bank has the original wet-ink paperwork or not (Usually they dont but sophisticated Forgeries via Electronic counterfeit copies-another subject).
Every Homeowner (Current or behind) should Fight the security instrument (Mortgage or Deed of Trust) in a prompt quiet title FIRST.
Then you have the time to fight these Note arguments with discovery. These Note chains-of-title stink, and the banks are aggressively hiding something regarding them, from us all.
Banking is a Ponzi game.
The mortgages are Null. End the Fed.
CUSIP numbers in Discovery point whether/if the security was transferred to the trust while the loan was still an application and not yet a note, the transfer is either invalid or reflects that the trust possesses ownership rights to an application.
The application would be worthless and certainly unsecured.
Investors indirectly fund the securitization of a “POOL” of securitized receivables. Thereafter, the pools are combined with other pools and multiple tranches, thus, forming CDOs – which are derived from the securities – which are derived from the receivables – which are derived from individual loans. There is no funding by investors for individual loans – and, therefore, investors can never be considered your “creditor” or “lender.”
Overcollateralization is not the “yield spread premium.” YSP is the “bonus” paid to mortgage brokers to deliver higher interest rate loans to the purchasing bank.
Overcollateralization is when the face value of the underlying loan PORTFOLIO (Pool) is larger than the security it backs. Banks were able to overcollaterize due to credit enhancement in the pool tranche structure. That is, they were able to sell the securities for less than the value of the pool of receivables the bank owned because the risk to security investors of default was supposedly mitigated by a trance structure in which the higher risk (lower tier) tranches protected the lower risk (higher tier ) tranches. Further, the risk was supposedly mitigated by combining many pools and tranches into CDOs. By not removing loans from pools – when the loan was actually not securitized into that pool or sold upon default- allowed for multiple inclusion of individual loans in separate pools.
You have to go the TILA(TRUTH IN LENDING ACT) and definitions of Creditor (and the TILA Amendment in May 2009) to understand who is considered a lender/creditor to an individual loan borrower.
How the creditor/lender pools loans to pass through income streams is bank’s business – but those derivative securities investors are never individually funding any loan – those derivative investors are only interested in a pool -in which your loan may or may not be very fractionally represented.
Overcollateraliztion was to supposed to protect CDO investors from loans that went into default.
Thus, providing enough money to cover those defaults. The derivative securities, therefore, could be purchased for much less than the face value of the “pool” and multiple “pools”. But, the defaults came so fast that the the pool and pool’s value collapsed – causing the CDO’s value to fall to zero.
Individual loans were funded by warehouse lines of credit that the purchasing banks provided to originators. This is the missing link in Chain of Securitization that is never disclosed – making any Conveyance of individual loans to any trust – False.
99% of Mortgages in America are Invalid, and we will see this blow up in their faces.
The scam has gone on Far too long and it will soon be over for the Banksters. They forget that they have to come home every evening from work...tar and feathers goes well with pinstripe.
Topic: Mortgage Trafficking (Read 5107 times)