COMMENT: I know we cannot all be securitization experts, lawyers, researchers, loan auditors, or any of the other positions of knowledge needed to understand the goings on in this corrupt monetary system we are forced to participate in. Capitalism has indeed run amok, and it is up to us to fight the injustice that is the banking and mortgage securities business. Your government is complicit in this fraud to the point that the Treasury Department will soon be under the direction of one Steve Mnuchin, former owner of OneWest Bank. I sincerely hope that President-Elect Donald Trump will reconsider his choice for Treasury Secretary, as the misdeeds of the past take root in the likes of Mr. Mnuchin. That said, take the time to read and learn so you understand your defenses to the taking of your homesteads. Just because you didn’t, couldn’t, or wouldn’t pay your mortgage debt does not give the Trust, Trustee, or Certificateholders of any mortgage backed security to enforce the security interest against YOUR real property if they failed to perfect their security interest. Most did not. Yesterdays post of the video from CERTIFIED FORENSIC LOAN AUDITORS illustrates the Uniform Commercial Code requirements for foreclosure. Please invest the time and try to understand it. I am well versed in most of this (at least I thought I was) so I could follow pretty easily. Good Luck!
Please read the article at the link below. You need to know what is going on…..
American Bankruptcy Institute
667 Understanding the Securitization Process and the Impact on Consumer Bankruptcy Cases
Tara E. Gaschler, Esq. The Gaschler Law Firm LLC I.
Introduction to Securitization
Securitization is a complex series of financial transactions designed to maximize cash flow and reduce risk for debt originators. This is achieved when assets, receivables or financial instruments are acquired, classified into pools, and offered as collateral for third-party investment. Then, financial instruments are sold which are backed by the cash flow or value of the underlying assets. Securitization typically applies to assets that are illiquid (i.e. cannot easily be sold). It is common in the real estate industry, where it is applied to pools of leased property, and in the lending industry, where it is applied to lenders’ claims on mortgages, home equity loans, student loans, vehicle loans and other debts. A list of the types of financial debt instruments that have been securitized is included in these materials. Any assets can be securitized so long as they are associated with a steady amount of cash flow. Investors “buy” these assets by making loans which are secured against the underlying pool of assets and its associated income stream. Securitization thus “converts illiquid assets into liquid assets” by pooling, underwriting and selling their ownership in the form of asset-backed securities (ABS). Securitization utilizes a special purpose vehicle (SPV) (alternatively known as a special purpose entity [SPE] or special purpose company [SPC]) in order to reduce the risk of 668 15th Annual Rocky Mountain Bankruptcy Conference Understanding the Securitization Process and the Impact on Consumer Bankruptcy Cases Tara E. Gaschler, Esq. The Gaschler Law Firm LLC bankruptcy and thereby obtain lower interest rates from potential lenders. A credit derivative is also generally used to change the credit quality of the underlying portfolio so that it will be acceptable to the final investors.