WORLD'S MOST COMPLICATED MORTGAGE CHART--WHAT HAVE WE CREATED?

Last Friday I posted the world's most complicated Mortgage Securitization chart prepared by Dan Edstrom, your friendly neighborhood securitization auditor.

That post was subsequently widely redistributed on channels such as Huffington Post and CNBC.com

Dan just reported to me that he will be on CNBC at 1:50 PST to discuss the fraudclosure situation.

He thanked me, and I think this means he is thanking all of you as well, because we are a community that enables this kind of recognition. I just told him to slap them over the head like Bruce Lee would do it. I think all the frustration he went through in gathering these details is now focused on the perps ;-)

He also provided me with the next interesting piece of mortgage-morass visual pyrotechnics. This chart documents where his mortgage note was supposed to go in accordance with the securitization documents and how it never got there based on his detailed examination and investigation of the the shoddy paperwork. You will notice the decidedly adversarial tone of this piece. Behold the Banksta thrashing Monsta!!!!

For everyone's benefit I am reposting last week's chart as well.

I know Barney Frank and Eric Holdem are going to love this...

Chart2

 

CHART 2

 

Remember Dan...boards don't hit back....

 

Walk

M Chart

CF

 

WB7