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Who's Your Daddy 101 - Multiple Pledged Notes
Since there has been quite a bit of attention on double and triple pledging of notes into multiple pools as reported back in June with my post on...
Freddie
Mac / Bank of America / Taylor Bean Whitaker – IMPORTANT INFO &
STATEMENT REGARDING ASSIGNMENTS… TRANSFERS… NOTE OWNERSHIP!!!
“Indeed, it appears as though many loans and other
mortgage-related assets have been double and even triple-pledged to
various constituencies“ In my 1999 21st Century Loan
Sharks Report, I coined and defined the term “Predatory Mortgage
Securitization”
(see http://en.wikipedia.org/wiki/Predatory_mortgage_securitization) in
my report from MY PERSONAL RESEARCH AND ANALYSIS I DEFINED SOME THE
FOLLOWING … Read more
I thought this little narrative would be warranted...
Who’s Your Daddy 101?
This may sound crude, but it’s the only analogy that’s easy for
people and judges to understand.
A woman goes to a party or is
promiscuous and sleeps with 6 men in a night or week. The following week
she is pregnant. There is one man who is the best looking, strongest,
in best shape and richest of them all, so she wants him to be the daddy.
Two other men, who find out she’s pregnant, claim paternity as well. NOW, before
the age of DNA and computers and all, it was simply someone’s word and
testimony against another.
However, with the advent of DNA testing and sequencing genes, we can
tell who the daddy is. So, a judge would understand the following:
Judge, this has been a very promiscuous note. It’s gotten around
(transferred, pledged, sold, assigned) quite a bit and it never used
protection (recording in public records, required assignments, proper endorsments). After being
with at least a dozen different partners, our note is now pregnant
(ripe for pay off / liquidation / foreclosure).
The MOM (MERS, servicers) says Daddy #1 is the daddy, but the baby
(original note) has blond hair and blue eyes judge, but the mom and
claimed dad are both dark hair and dark eyes so we’re suspicious.
Two dark hair and brown eyed men come forward and state: Judge we
both slept with this woman during the time she claimed to be pregnant.
Now, 3 different men have potential paternity.
NOW, THE ONLY WAY you can determine who the father (holder in due
course) is, is to take blood samples (accounting, servicing, custody, investor reports and data) from EACH MAN (servicer/transferee/trustee etc...) to
see who’s DNA it was, to determine who the dad really is and who
owes child support.
Unless you do the DNA (forensic accounting analysis of all docs and records), it
doesn’t matter what the bank lawyers or servicers (lie about) say about what really
transpired here!
Without seeing where that NOTE (not mortgage) came on and off anyones
books; how it was endorsed and when; who has possession and custody
and who negotiated the note and PAID for it, you’ll never be able to
answer the age old question...
“WHO’S YOUR DADDY?”
~
4closureFraud.org
~
“Indeed, it appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies“
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Our Congressional krooks will be required to "do something", so expect the problem to be legislatively swept under the rug -- with a very expensive broom.
Why everyone makes this so complicated and misses the obvious is beyond me, let me frame the analogy correctly:
The real plan [using the author's analogy] is that a woman that gets knocked up with that kind of cocaine-lifestyle is betting on losing the baby. Paternity is the fool's distraction, and moot.
Bonuses are paid for dead babies, then time for the next party.
Recklessness is rewarded and the rest is someone elses problem or "life" down the drain.
People kill themselves to escape guilt once they realize they are baby-killers (good riddance!), everyone else is living denial wasting their time trying to establish paternity, instead of ending the worldwide organized baby-killing syndicate.
It's that simple.
How else can we explain $1+ Quadrillion in nominal derivatives worldwide? 65% are interest rate which leaves about $300-400 trillion in bets on ... CDSs???
NOW, THE ONLY WAY you can determine who the father (holder in due course) is, is to take blood samples (accounting, servicing, custody, investor reports and data) from EACH MAN (servicer/transferee/trustee etc...) to see who’s DNA it was, to determine who the dad really is and who owes child support.
Unless you do the DNA (forensic accounting analysis of all docs and records), it doesn’t matter what the bank lawyers or servicers (lie about) say about what really transpired here!
Without seeing where that NOTE (not mortgage) came on and off anyones books; how it was endorsed and when; who has possession and custody and who negotiated the note and PAID for it, you’ll never be able to answer the age old question...
“WHO’S YOUR DADDY?”
- - - - - - - - -
--> Yeah, let's get on it, toot de suite. This is more or less what I've been advocating around here. We need some sort of Mortgage Resolution Trust Co. to create a legal framework and process to unwind all this crap and find out what's what. No more wand waving, lottery winning or sweeping moratoria.
And even though the bankster thug at the door may not actually be the father obviously someone is the father. So no immaculate conception and no....free house either. Time for Dad to own up and time for the kid (the defaulted borrower) to take his lumps too.
DADDY'S HOME.
So what do you think might have been so troubling to Mr David B Kellerman that brought him to the end of his rope?
http://globaleconomicanalysis.blogspot.com/2009/04/freddie-mac-executive...
OMG!!! TYLER!!!!
This is, as many have already pointed out, the real banking crisis; apparently, there is no "capital". Revelations of truth are to be avoided at all costs. We have already set plenty of precedent:
It will be interesting to see how they put this one into a box. I am still thinking "false flag". Got any food in the house, Ms?
You have an angry edge some times, but I respect you and always look for your comments.
Deep pantry. Water, protection, some medical. In one sense, you are never ready enough.
Wish there was a forum for ZHers to talk preps. I'd love the opinions of some here.
Saw a movie three nights ago, Time of the Wolf. Simple, mind altering, awesome. Guaranteed attitude adjustment.
If you want to see it, don't read any reviews, it will spoil it.
http://en.wikipedia.org/wiki/Time_of_the_Wolf
You ever read Paul Erdmann's "Zero Coupon". If you have a mortgage that has a five year grace period before interest payments are due, you have five years to sell it a few hundred times.
OMG!
Could somebody explain how multiple securities expecting income from the same mortgage could possibly not realise on the first coupon date that somebody was missing their interest. The interest is cash, no? so it can only be allocated once and to one MBS. i can see how things could get hidden from immediate view with the more exotic CDO instruments. But the buyers of the plain MBS were purchasing an income stream, if the morgage backing the bond and producing the income was pledged more than once surely somebody has been wondering where their income / coupons are. How come the allarm bells have taken so long to ring?
You've sold $100m twice.
You take fees on both.
You use the second (the fraudulent) to "invest" elsewhere. You obtain an income stream. You disguise its source by burying it in a myriad of SPVs.
No?
All this triple liening and triple securitizing is criminal fraud as far as I am concerned.
I see no difference between this and passing bad checks at 7/11.
BTW, did I ever show you a picture of my trophy mutt? His name is FICO
I think your dog has a skin condition...
Looks like a meerkat and a dalmation knocked boots....
Somehow, someway there's got to be a chinese rare earth joke in there as well.
Thanks for breaking the story in June, and directing my attention to it!
4ClosureFraud.org is one of the very best sites on the Web for foreclosure information, and the folks behind the site are not only writers, but some of the top investigators in the country on foreclosure.
Keep up the great work ...