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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: What's the story with lenders? Posted by msoliman on November 26, 2009 at 11:20 PM In Reply to: What's the story with lenders? posted by Roy on November 25, 2009 at 11:11 AM Can someone explain why the volume of postponements at trustees sales just continue to mount up? And why the lenders continue to keep reo inventory on the books without really being motivated to sell? Lender does not own the loan...much more than the missing note argument. Okay, so the lender sold the asset to Wall Street and under gain on sale accounting rules the party is over for the lender. The registrant who issued the stock is also long gone as is the investors. Nonethe less the lender is coming back to steal the home after booking a sale and gain or loss. If a borrower fails to pay their mortgage then who is hurt? It's not the original lender because they sold the loan. It's not servicers because they do not have title to the mortgage. It may not be an individual trustee if a single mortgage has been used to support several mortgage-backed securities. Lastly, since mortgage-backed securities can be sold with electronic speed, it may not be the investor who held a stake in one particular MBS 10 minutes ago. This is in violation of FAS 140-3 under GAAP and cause more errors and omissions including F A U D committed by lenders, title companies, trustees and attorneys assisting the criminals. It tough as an expert witness because you still need a sound case but it’s true…lenders are stealing your home. msoliman expertwiness@live.com Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Can someone explain why the volume of postponements at : trustees sales just continue to mount up? And why the : lenders continue to keep reo inventory on the books : without really being motivated to sell? : Lender does not own the loan...much more than the missing note : argument. Okay, so the lender sold the asset to Wall Street : and under gain on sale accounting rules the party is over for : the lender. : The registrant who issued the stock is also long gone as is the : investors. Nonethe less the lender is coming back to steal the : home after booking a sale and gain or loss. : If a borrower fails to pay their mortgage then who is hurt? It's : not the original lender because they sold the loan. It's not : servicers because they do not have title to the mortgage. It may : not be an individual trustee if a single mortgage has been used : to support several mortgage-backed securities. Lastly, since : mortgage-backed securities can be sold with electronic speed, : it may not be the investor who held a stake in one particular : MBS 10 minutes ago. : This is in violation of FAS 140-3 under GAAP and cause more : errors and omissions including F A U D committed by lenders, : title companies, trustees and attorneys assisting the criminals. : It tough as an expert witness because you still need a sound : case but it’s true…lenders are stealing your home. : msoliman : expertwiness@live.com [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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