A YIELD SPREAD PREMIUM IS A FEE PAID TO A BROKER FOR CREATING A FRAUDULENT PROFIT BY LYING TO THE CUSTOMER WHO BUYS A FINANCIAL PRODUCT. This particular lie would be about the rate on the loan. One would think this was already illegal and one would be right. Not only is it specified in [...]
EDITOR’S NOTE: The shell game continues. While the media picks up stories about “settlements” giving rise to the presumption that Countrywide Home Loans and Bank of America and the rest of the securitization players committed various violations of statutes, duties, rules and regulations, the main point gets lost. Where is this money going and WHY? [...]
SHELL GAME CONTINUES. WHO HAS THE BOND? WHO HAS THE RECEIVABLE? WHO HAS THE SECURITY INTEREST? WHO IS GETTING PAID? WHERE ARE THE MONTHLY PAYMENTS GOING? FANNIE MAE AND FREDDIE MAC ARE BIG PLAYERS, AS IS THE FEDERAL RESERVE. ARE THEY THE ONES REALLY FORECLOSING UNDER COVER OF SECURITIZATION? EDITOR’S NOTE: Another entry under the [...]
The Federal Reserve, by the way, doesn’t exist to make a profit like the commercial banks. Until 2009, the Fed paid no interest on the bank reserves and other monies it holds, and it earns interest on the Treasury securities it holds. According to the story in the Times, the “Fed’s profitability increased as an incidental result of the financial turmoil that began in 2007.”
I’ve always been puzzled by the lack of action and reaction of the public to the mortgage crisis. As I write this, it gets worse, more people lose their homes, more homes are beset by adversary relations between family members, more alcohol abuse, more spousal abuse, more child abuse, more anxiety, depression, divorce and grief. [...]
It’s amazing how different it is when you’re the Chairman of the Federal Reserve, as opposed to being the retired Chairman of the Federal Reserve.
Taxpayer support for the financial system grew by $700 billion last year, and has now reached roughly $3.7 trillion, including TARP, Federal Reserve programs, asset guarantees and federal bank deposit insurance, among other commitments.
Face to Face With Polished Wall Street Psychopathy Posted on June 25, 2010 by Foreclosureblues Editor’s Note…Now here is something you won’t see in the mainstream media. http://foreclosureblues.wordpress.com/ Tom Adams: Face to Face With Polished Wall Street Psychopathy (SEC Says that ICP Stole from My Old Company Edition) Today, June 25, 2010, 8 hours ago [...]
Under pressure from the Obama Administration, Federal agencies that turned a deaf ear to consumers, borrowers and debtors, are starting to investigate, prosecute and reveal predatory, deceptive and illegal activities of the entire securitization chain. Now is the time for us to make sure they get a copy of your qualified written request. And the [...]
People… we have to stop the foreclosures. They breed more foreclosures. They reduce spending and lower tax receipts. They cause increased unemployment. They cause more bonds to default. They make our banks insolvent. They are a “HOLE IN THE BOTTOM OF OUR BOAT. It doesn’t matter what else we do… as long as we allow the foreclosures to continue unchecked… we are doomed to a future that none of us would want for our children.
See the thing about the arrogance of these non-bank and bank financial institutions is they are rushing to get under the wire before the truth is revealed: they are not the creditor and they never were. Send your debt validation letters and don’t let them sue without filing a motion to dismiss the same as [...]
The Federal Reserve Board has issued an interim final rule under Regulation Z to implement the recent Truth in Lending Act (TILA) amendment that requires new owners and assignees of mortgage loans to notify consumers of the sale or transfer.
While mostly helpful in foreclosure defense, the rule leaves [...]
Mortgage rates moved slightly higher but remained just below 5 percent this week, as a Federal Reserve program that has maintained rates near record lows prepares to end.
Mortgage – Federal Reserve System – Business – Financial Services – Federal Reserve
As pointed out in the article below there are many good reasons for prepaying your mortgage on a monthly basis. But if you are in a securitized mortgage and you are either underwater or facing payments that are resetting, be aware that any prepayments will take you far out of the running for any modification. [...]
Former Federal Reserve Chairman Alan Greenspan, whose legacy has been tarnished by the global financial crisis, on Thursday laid out a scholarly defense of the matter.
Alan Greenspan – Federal Reserve System – Chair of the Federal Reserve – Economic – Central bank
Enter your email address below to receive updates each time we publish new content.
Recent Comments