The securitization/rehypothecation scheme relies on USPTO patents to make the corruption appear to be legal and approved by the federal government. Are “traditional mortgages” new inventions? Where are the laws for these quasi-securities transactions? If they don’t exist, are these transactions even legal? Remember, American Homeowners had no disclosure that their properties were being gambled on Wall Street – over and over and over.
Securitization is a relatively new innovation given the operation of the traditional mortgage loan industry over the last 70 years.
What is routinely overlooked is the fact that this entire new process and product development has been patented in the USTPO extensively by the banks. The loans that were sold at the turn of the century through present day are NOT traditional mortgage loans. This fact is further complicated because there was no meeting of the minds when the contracts were formed. Additionally, there are multiple defects that should literally void documents or cause defective products to be recalled.
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