See: Impact of Securitization and securitization-a-primer/
According to SEC rules student loans are supposed to be transferred into a trust; however they never actually deliver the note. If the note is NOT indorsed into the trust the note is void and uncollectable.
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SIGTARP’s concerns over servicer misconduct contributing to homeowner redefaults in HAMP have been borne out. Treasury’s findings in its on-site visits to the largest seven mortgage servicers in HAMP over the most recent four quarters show disturbing and what should be unacceptable results, as 6 of 7 of the mortgage servicers had wrongfully terminated homeowners who were in “good standing” out of HAMP.
These staggering findings clearly show that servicer misconduct is contributing to some homeowners falling out of HAMP. Homeowners were wrongly terminated from HAMP by their servicer despite making timely mortgage payments, putting them at risk of losing their home. These homeowners were forced out of HAMP through no fault of their own. Mortgage servicers did not give these homeowners a fair shot. As these instances were found through sampling, Treasury does not know how many other homeowners were also wrongfully forced out of HAMP. Continue reading
By Larry Doyle on February 6, 2014
Do you ever wonder if those who ‘find religion’ late in life so to speak are trying to conveniently cleanse their souls before making their way to the pearly gates?
I think in the case of public officials, it is fair to ask if the ‘cleansing process’ is done for purposes of resurrecting an image or if the individual is truly engaging in a meaningful transformation. Continue reading
By DEADLY CLEAR
We are Americans first, not Republicans, Democrats, Unions, Government Workers, Corporate Employees, Retirees – WE ARE AMERICANS!
WE Americans were scammed “big time” by Wall Street greed and elite wannabes.
Whether you are NYPD, Iowa, Detroit, Baltimore, Chicago, Florida, California, NJ, Washington, Maine or Oregon police (just to name a few), a fireman, teacher, government or corporate employee, FBI, CIA, Judge, prosecutor or clerk – your pension and retirement funds (FERS) were put at risk and are likely gone. Wake up. Continue reading
Deadly Clear 