"LivingLies pointed out that a lot of 'Trustees' for insert bank name here, N.A. are not banks, but associations incorporated under a bank's name for separation of culpability. I see you're under the gun with your BK, but when you…"
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Phred Maldonaldo left a comment for ChrisNM
"Souds like it could be an ideal money laundering operation for a terrorist group. The terrorist group's bank puts up the money for the 'trust', the 'trust' is formed and buyers pledge payments for 'loan', and…"
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ChrisNM's Blog
Fictitious MBS Trusts
Posted on August 26, 2011 at 10:41pm 0 Comments 0 Likes
I have discovered through a lot of research, securitization audits, and some common sense that there are Banks out there that are acting as Trustees for a Mortgage Backed Securities Trust in a foreclosure action which do not exist- at least not as MBS Trusts. They look like MBS trusts on the documents, everyone assumes they are MBS Trusts, but they are not MBS trusts. In fact, they do not appear to be business entities at all- at least not business entities that come up in any…
ContinueComment Wall (4 comments)
- At 1:56pm on November 2, 2011,
Phred Maldonaldo said… - LivingLies pointed out that a lot of 'Trustees' for insert bank name here, N.A. are not banks, but associations incorporated under a bank's name for separation of culpability. I see you're under the gun with your BK, but when you get the chance wander over to livinglies for some excellent reading.
- At 10:01pm on September 10, 2011,
Kisnyuszi said… Wow you nailed it.
- At 12:54pm on September 10, 2011, Phred Maldonaldo said…
- Souds like it could be an ideal money laundering operation for a terrorist group. The terrorist group's bank puts up the money for the 'trust', the 'trust' is formed and buyers pledge payments for 'loan', and terrorist investors take cash flow to use without prying eyes. Trust isn't organized under U.S. law so it doesn't show registered. Disclosure of county of incorporation of Trust should be in PSA or Trust Indenture.
- At 12:31pm on August 18, 2011,
KT said… - Welcome to the Hamlet!
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