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No Mortgages In Mbs

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http://market-ticker.org/akcs-www?post=176735

Karl Deninger is reporting on his blog that the Massachussets supreme court has ruled that didnt securitise their MBS's correctly, meaning that the bonds dont legally contain any mortgages.

Meaning that the banks who were servicing the morgages, dont have the right to foreclose on defaulters, as they are not the beneficial interest in the mortgages.

This might only be a small state, but the human trait of copying others is a very strong one. Once one does it, and produces a sound judgement, then they all will.

Given that banks tried to circumvent the process of recording changes of mortgage ownership controlled by the state, and no one appears to have any legal documentation at all that proves who owns the mortgages, we might find that millions of US mortgagees are paying their mortgage solely out of the goodness of their hearts. Some may choose not to pay, and still retain the roof over their heads.

I dont see how this can be bailed.

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http://market-ticker.org/akcs-www?post=176735

Karl Deninger is reporting on his blog that the Massachussets supreme court has ruled that didnt securitise their MBS's correctly, meaning that the bonds dont legally contain any mortgages.

Meaning that the banks who were servicing the morgages, dont have the right to foreclose on defaulters, as they are not the beneficial interest in the mortgages.

This might only be a small state, but the human trait of copying others is a very strong one. Once one does it, and produces a sound judgement, then they all will.

Given that banks tried to circumvent the process of recording changes of mortgage ownership controlled by the state, and no one appears to have any legal documentation at all that proves who owns the mortgages, we might find that millions of US mortgagees are paying their mortgage solely out of the goodness of their hearts. Some may choose not to pay, and still retain the roof over their heads.

I dont see how this can be bailed.

No M just leaves BS securities

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should be MUS

Mortgage Unbacked Securities.

I prefer PUS

Potentially Unbacked Securities

Edited by LuckyOne

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F.U.C.K. securities

Finest unbacked cack known.

Completely Unenforceable Notional Transfer Securities .....

Edited by LuckyOne

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Completely Unbacked Notional Transfer Securities .....

Bankers Only Newly Unbacked Securities.

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Are they backed by Magic?

Did you know

Way down deep in the middle of America,

A banker took a vagabond, a pikey and a hobo.

He stuck their contracts with the others, and he danced a dainty tango.

The banker said, "I know, we'll call it M B S"

M B S, M B S, They sell them on Wall Street.

The broker payed the politician, the developer the mandarin.

The clerk painted signatures, that the whole caboodle landed in.

So when it comes to sun and fun and goodness in the states,

They all prefer the sunny funny one they call Corruption!

Edited by Tamara De Lempicka

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Somewhere, in a parallel universe, people are being prosecuted for selling investors empty boxes and bringing ruin to their own societies as a side effect of the whole sorry process.

In this universe, however, a work around is no doubt being cobbled together by the elves of congress, soon to be revealed to a fraud weary population.

It may turn out that the entire history of property law in the states was in error- an error only corrected when the owners of MERS found enough bribe money to reinvent the past in their digital image.

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I see Bancorp are already saying that although the case was lost, that actually, its a victory for them as the judgement says they arent now responsible for what happened to mortgages before they got to them or after.

Bancorp, I understand, were trustees for some MBS.

for a thing to have legal standing, the thing has to have a set of rules, that can be either fulfilled or broken. like a house with 500 bricks, it there are 500 bricks, assembled as per the plan, then the seller can say here is a house, its built like this, and if you buy it, this is what you are going to get.

Its the same for a MBS....the contract the trustee has formed consists of mortgage documents, in a certain state of owbership, piled up and true and provable.

Bancorp are saying it matters not that they sold MBS to investors and to the market saying it was in a certain state, when in fact, it wasnt. They lied, and they are hoping this lie is seen as a "corner cut".

to me, this corner cut is a fraud...it was done knowingly, it was done often, and they even set up an organisation, unbacked by legislation (MERS) to fascilitate corner cutting. and some of this corner cutting was to avoid legal requirments on mortgage transfers.

where are the Police?

better still, where are their fellow bankers suing for the MBS, which they already are forced to lie about with mark to model valuations, which appear to have no mortgage backing at all....and mortgage holders decide en mass, not to pay...what value do they have at all?

And they think the recovery is here.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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