Hat Tip to Patrick Giunta, Esq.
Stumbled across this 5 year old article that supports the view that servicers are the real parties in interest who are protecting only their own interests at the expense of investor and borrower alike. The facts are undeniable. If the loans were modified or worked out, the investors would have done much better than the self inflicted crash imposed by banks posing as servicers on loans for trusts that exist only on paper and not in real life.
The fact remains that if the servicers were eliminated and a new venue was created to intermediate between borrowers and investors, the investors, the borrowers and the taxpayers would all be better off. Only the banks would ,lose out on prospective illegal gains that they have been faking for a decade. The government should have provided this venue. The crash would not have occurred and the…
View original post 354 more words
“MBS Investors waking up to the fact that servicers represent servicers — not investors.” Ah, duh??? Finally, the light bulb came on the investors’ brain that the banksters have been in the foreclosure business and that the servicers get paid first from a foreclosure and investors get screwed. And all of bank settlements are being paid by the shareholders and not the banksters that did the crime.