100 INTRODUCTORY FACTS ABOUT MORTGAGE SECURITIZATION
By LYNN E. SZYMONIAK, ESQ., ED., Fraud Digest (www.frauddigest.com) LISA EPSTEIN, www.foreclosurehamlet.org
1. Most mortgages in the U.S. are owned by trusts.
2. The trusts are often referred to as “RMBS” trusts, an acronym standing for “residential mortgage-backed securities.”
3. The total U.S. mortgage debt is between $12 and $14 trillion. Of this, approximately $8 trillion was owned by trusts in 2008. Why is it important to learn about mortgage securitization? Reason #1: Most of the foreclosures filed in the U.S. in the last 5 years were filed by mortgage-backed trusts. Most of the foreclosures filed in the next 5 years will be filed by mortgage-backed trusts.
4. The trusts are made up of a bundle or pool of mortgages (often 5,000 – 8,000 mortgages per trust). The loans are almost always subprime loans. The value of the mortgages in each trust is usually between $500,000 and $2 billion.
5. Individual mortgages got packaged into RMBS Trusts; these RMBS trusts got bundled, sliced and sold as CDOs – collateralized debt obligations.
6. The mortgage loans in each pool – or RMBS Trust – usually include both first lien and second lien loans, and fixed-rate and adjustable rate loans.
7. There are different “layers” within each pile of loans, representing different qualities of loans. It is not unusual for each pile to have as many as 20 different layers – these layers are sometimes called classes or “tranches.”
8. Certificates are issued to investors to represent the purchase – so investors are often called “certificate holders.”
9. There are often minimum investment requirements – such as “Offered certificates must be purchased in minimum total investments of $100,000 per class.”
FRAUD STOPPERS PMA Mortgage Foreclosure Defense Blog Update April 18, 2017
Recent Blog Stories:
A federal judge won’t dismiss a Waynesboro’s couple lawsuit against Wells Fargo National Bank and two other companies alleging “deceptive, fraudulent and unconscionable” sales practices. Although U.S. District Judge Daniel Jordan III refused to dismiss Archie and…
September 13, 2007 John Stumpf Wells Fargo Company 420 Montgomery St San Francisco CA 94301 Dear Sir, I sincerely regret the circumstances under which I am corresponding, Nine months ago, I reported unethical (and illegal) activity to Wells Fargo Regional Bank,…
OneWest Bank, the mortgage servicer previously owned by Treasury Secretary Steven Mnuchin, has been accused by homeowner groups of a type of foreclosure abuse involving lender-placed, or force-placed, insurance. Mortgage servicers are able to force insurance policies…
Preparing for Hearings or Trial … Whether you’re training for the Olympics or trying to win a case in court, winners know they must exercise, prepare themselves, and be ready for competition. Most court cases can be won before trial. Our course will show…
Local vet urges changes in Dept of Veterans Affairs rules on foreclosures SPARROWBUSH – Any day now, DJ Gonzalez will be escorted out of his home, and the doors will be locked behind him. Gonzalez, a 62-year-old Vietnam War veteran, is on the verge of homelessness,…
HSBC to pay $2 million to resolve U.S. civil loan fraud lawsuit HSBC Holdings Plc has agreed to pay about $2 million (1.60 million pounds) to settle a civil fraud lawsuit that alleged the bank improperly attempted to get reimbursement from the federally backed U.S….
Nuns Take On Wells Fargo In an insightful song about outlaws, Woody Guthrie wrote this verse: “As through this world I travel / I see lots of funny men / Some’ll rob you with a 6-gun / Some with a fountain pen.” The fountain pens are doing the serious stealing these…
FRAUD STOPPERS Private Members Association (PMA)
If you want to learn How to Cancel Secured and Unsecured Debt Obligations through Strategic Litigation join FRAUD STOPPERS Private Members Association (PMA) today for only $97 and get instant access to cutting edge litigation support products and services that are designed to help you save time and money and increase your odds of success getting the legal remedy you deserve.
Your Membership to FRAUD STOPPERS Private Members Association (PMA) includes:
- Mortgage Fraud Analysis and Bloomberg Securitization Search to determine the potential causes of action your mortgage loan situation qualifies for
- Detailed Written Mortgage Fraud Report revealing the UCC violations contained in your loan mortgage contract, what you can sue for, and why
- A Confidential Potential Cause of Action Consultation for personalized legal strategies conducted by a licensed, bonded, Private Investigator who specializes in Mortgage Fraud
- A Consumer Financial Protection Bureau (CFPB) Audit for violations of the Dood Frank Act for monetary awards of up to $10,000.00
- A Consumer Financial Protection Bureau (CFPB) Federal Lawsuit to collect the monetary awards that your loan qualifies for, conducted by a law firm on contingency
- An Attorney Drafted Qualified Written Request (QWR) Letter and other Administrative, Informal Discovery, Documents like federal debt validation letters and a revolutionary federal TILA Rescission Letter
- A DIY, fill-in-the-blank, Complaint for violations of the Federal Fair Debt Collections Practices Act (FDCPA) demanding $100,000.00 in financial compensation
- And most importantly you’ll get instant access to Members Only litigation support products & services that include:
- Court Ready Quiet Title & Wrongful Foreclosure Lawsuit Packages
- Trial Ready Evidence Packages
- Expert Witness Affidavits & Testimony
- Temporary Restraining Orders (TRO)
- Lis Pendens
- Court Ready Discovery Document
- Nationwide Foreclosure Defense Attorney Network
- Attorney Loan Modifications
- Pro Se Education & Training Programs
- Pro Se Bankruptcy Services & Support
- And More!
If you want to sue your mortgage lender for mortgage or foreclosure fraud you can join FRAUD STOPPERS PMA right now and get the help you need to gain the remedy that you deserve at: https://www.fraudstoppers.org/members-only/
To your victory!
FRAUD STOPPERS PMA
For information on foreclosure defense call us at 844-372-8378. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.
Feel free to connect with us . . .
Address: 332 S Michigan Avenue Suite 1032 #F513 Chicago IL 60604-4434 Phone: 844-372-8378
Legal Information Is Not Legal Advice: This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Fraud Stoppers is NOT a law firm, non-profit organization, or government agency. Register for your Free Mortgage Fraud Analysis and Securitization Search, and get Free Foreclosure Defense Help and Free Foreclosure Defense Documents that you can use to stop a foreclosure and save your house.