Yep. Satisfaction of Mortgage – apparently robo-signed and thus potentially invalid.
Got it folks? The President Of The United States’ personal home may not have a clear title.
Its not the foreclosure affidavits only. Hello? Its the whole kit-n-caboodle. its the fabricated assignments of mortgage, fake allonges, robo-stamped endorsements in blank, and satisfactions of mortgage, ignoring SEC and IRS regulations, disregard for the steps required by the REMIC rules. Its all the top national banks and their servicing arms. The whole of it is a sham. Dont believe the propaganda that insists otherwise.
I wonder what our Dear President thinks about these great banks now? You know, the ones that he has bent over to protect? Oh wait – he’s been on his knees protecting them – and servicing them.
And for this great service, which I’m sure Mrrs. Blankfein, Weil, Strumpf and others appreciated, they filed an apparently robo-signed satisfaction of mortgage on his own personal house!
And by the way, if you STILL think this crap is a “nothingburger”, you might want to listen to someone named O. Max Gardner, perhaps the best-known consumer bankruptcy attorney in the United States.
What does he have to say about the true underlying issue here and what I have been beating the drum on for more than three years?
Its so rare to find a mortgages note legally assigned to its supposed trust, that Max Gardner, or O. Max Gardner III, if you dont know him, I suppose, who is considered by many to be at the top of any list of the countrys consumer bankruptcy attorneys, and who has also become expert in the issues surrounding the mortgage meltdown and resulting foreclosure and credit crises, has often told the hundreds of attorneys around the country that follow his thinking on the issues and legal remedies, that if anyone ever finds a deal where the note was correctly endorsed to the trust, he or she should bronze it and hang it on their wall.
This is NOT about “Free Houses” or anything like that. It is about EMPTY BOXES and boxes full of dogcrap – MBS that hold nothing and assets that did not meet the credit quality requirements of the trusts but were transferred in anyway. The latter we know happened for a fact because it has been testified to in front of the FCIC and is exactly like selling someone a box of chocolates – but instead of chocolate, as you represented, you took piles of used dog food, formed it into chocolate shapes, then coated it with a thin veneer of chocolate so it looked and smelled like chocolate – right up until someone decided to take a bite of one.
These events sure look like black-letter crimes to me. Selling someone crap instead of chocolate, when you tell them it’s chocolate, is plain old-fashioned fraud. So is selling someone called a “Mortgage-backed security” without the mortgage backed part. In both cases, if and when this happened, you have people who took someone’s money – some $6 trillion of it over the “go-go” years – and sold them crap that was certified as Grade “AAA” chocolate. In each and every case where the sellers lied, they committed a serious crime.
Who got screwed? You. Your pension fund. Your annuity company – an insurance company that might not be able to pay 10 years down the road when you’re old, gray and frail.
You are the one who got screwed.
And if these clowns have their way, you’ll get screwed again. The Senate knows, and is holding hearings on how to steal your 401ks – your private money – to make up the money the banks stole from Union pension funds. That’s right folks – they know, and they’re trying to figure out how to make it “more fair” – which is code in Washington DC for taking money from those who didn’t get robbed by the banks and giving it to those who did, instead of making the robbers pay back what they stole and unjustly bonused out to their much-vaunted “talent.”
Through all this we can’t seem to find a prosecutor, perhaps because they’re all bought and paid for by those same banks, who threaten “the end of the world” if they would be forced to eat their own cooking – or in this case, their own packaging of the dogcrap they foisted off on you.
What’s worse is that we’re letting all these people cover it up, even though the game had to go right through the executive suite of these big banks – you simply can’t make the argument that which comprises “how one makes their money” wasn’t known to the guys at the top.
Everyone talking about this in the mainstream media – with a handful of exceptions like myself on Dylan Ratigan’s show, is trying to play this down as a mere technicality.
It’s a coverup that is now coming unraveled.
Because the cash flow – or rather, the lack there – on these defaulted instruments is now becoming a serious problem, and as such you have banks furiously attempting to keep from coming to light the entirety of what happened – and they sure as hell don’t want you to look closely at their practices over the last five years!
I said three years ago and have maintained since that in the end the cash flow would kill these games, because while all sorts of lies can be put on a balance sheet, you will never get away with falsifying the deposit ticket.
Guess what? That day has arrived.
Wake up America.
You’ve been robbed – by the bank.