Everything was Patented … Yeah, We got an “app” for that!

WTF?!, No Seriously, WTF! – Bank Of America Holds Patent On ‘Changi...

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By DEADLY CLEAR

Ken Dost, an expert in financial reverse engineering (FrE) located on the West Coast, has been diving into the Wall Street banks’ patents and trademarks focusing on the their financial engineering schemes over the last 3 years.  Dost has discovered that there were patents on nearly every aspect of the mortgage market – and they were linked together.

“If you thought your mortgage was based on the appraisal value,” said Dost, “think again. Wells Fargo, for example, created a Patent published in 2004 that clearly identifies that the loan amount was based upon credit score, credit bureau information and an ‘automated information management system’. Based on the information it appears that a lender would determine how much money it was willing to lend and an appraisal was secondary. The borrower’s mortgage loan amount was based on the borrower’s ability and willingness to pay.  Apparently, from what we have learned from [CONTINUE READING on DEADLY CLEAR]