The Nitty Gritty of Mortgage Backed Securities

ISBN-13: 9780692776247 / Angielski / Miękka / 2016 / 324 str.

Richard M. Kahn

Opis

"In November 1999, fourteen months before leaving office, President Bill Clinton signed the repeal of the Banking Act of 1933 into law. He did so in defiance of it being set up to protect us from the marriage of commercial and investment banks that caused the Great Depression. Clinton's legacy was the birth of toxic MBS Securitization that profited the banks from 2000 until the mortgage meltdown of 2008 and caused the financial crisis we remain in today. A legacy of massive debt and unemployment. Tens of millions of Americans received toxic mortgages, lost their homes and still face the theft of their homes by wrongful foreclosure on loans destined to default from the day they were originated. Learn how these banks issued loans destined to default and sold them for up to 8 times their face value as MBS commodities within weeks of loan origination. In the process the loans were fully paid off multiple times over. Millions of paid off mortgages floating in the ether. Rather than let the borrowers benefit, Lender's servicers who know the loans have no owners create false chains of ownership documentation and fabricate false affidavits to file in county records and Court as true. Learn essentials for fighting wrongful MBS foreclosure in court and why, how and when the SEC caused the financial crisis overnight, that wiped out banks and corporations involved." Richard Kahn