Securitization Fraud Specialists
A great fraud is being perpetrated on the American People...
Your home may be at risk of foreclosure by those having no right to cease your property.
We are an experienced law firm specializing in Bank & Securitization Fraud and protecting your rights
Foreclosure & Securitization Industry News
Before 1999, a mortage loan was exactly that--a loan. The lender was the real source of the money which was loaned
LawCare professional law firm are experienced, capable and able to provide legal solutions to help you avoid illegal foreclosue of your home.
Why are so few mainstream media reporting this critical information?
One notable exception - view this 60 Minutes report
NAFDA (the National Association of Foreclosure Defense Attorney's) estimates that more than 10,000 Utah residents have had their homes improperly seized by ReconTrust. Until now, nothing has been done to stop them. That is why NAFDA has stepped in and brought a class action lawsuit against ReconTrust to stop the company in its tracks—and prevent it from seizing any more Utah homes.
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to the borrower. Lenders pre-qualified borrowers based strictly on:
- the borrower's credit worthiness
- their ability to repay the loan
- the appraised value of the property
To secure their loan, lenders placed a lien on the property. If the borrower failed to make their mortgage payments, the lender would foreclose and repossess the property.
But since 1999, the “lender” named in your loan documents is probably not a lender at all, but rather a loan “originator” (broker) that most likely didn't provide any of their own funds for mortgage loan. The loan originator/broker received a line of credit from an unidentified warehouse "bank" fully aware that your "loan" would then be pooled with other "loans" and sold as mortgage-backed securities to Wall Street investors.
The loan originator’s (broker's) sole function was limited to obtaining a Note in exchange for a loan fee, as the initial step in the “securitization” of your loan. Banks that originated loan pools were also provided with loan default insurance.
So in reality, Wall Street investors funded your mortgage loan and NOT the lender named in your loan documents. If a loan ever defaults, all parties in the securitization chain are compensated by the default insurance.
This means that your loan may have already been paid off by the default insurance policy. This also means that the bank trying to foreclose on your home may:
1. either not own your loan (and therefore cannot foreclose), or
2. your loan has been paid off and therefore cannot be foreclosed.
Under federal law, loan securitization is patently illegal, primarily because its fraudulent and violates specific RICO, anti-trust, usury laws.
Securitization loans on a variety of assets including real estate loans, credit card contracts, account receivable loans, intellectual property assets, etc., is growing at an alarming rate, especially for financially troubled companies and businesses with low or mid-level credit ratings. Our focus is on asset-backed securities and mortgage-backed securities. We are here to help you analyze critical legal issues involving your mortgage loan and the issues involving whether or not your "lender" has legal standing to foreclose on your home.
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