tag:blogger.com,1999:blog-8575396221761490577.post5349388623405823443..comments2023-10-14T11:47:37.778-04:00Comments on Bank Watch: Wall Street banks seek to become landlordsUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8575396221761490577.post-84155872729311004792012-03-19T14:51:21.767-04:002012-03-19T14:51:21.767-04:00It would be nice if you explained HOW the Treasury...It would be nice if you explained HOW the Treasury made money on those mortgage bonds - and they role they had in MBS/ABS. These bonds have an inurance policy that pays off when the borrower goes into foreclosure. (AIG failed paying these policies) The role of the servicer is to PUSH the borrower into foreclosure so the investor gets the payout. So our own Us Treasury was betting AGAINST homeowners and cashing in on their home loss. In fact, prior to Sept. 2010, you could go to the SEC website and easily find the trust your loan was in. Then the SEC DELETED the records...because homeowners were coming into court with proof that the foreclosing bank did not own the note. (you can't have both a note and a stock certificate for the same asset) This allowed the bank to "hide" where the mortgage went, but required them to recreate the (often destroyed) note - hence the need for robo signers. So maybe this "profit" is good news to you...for many homeowners, not so much.Dolleyhttps://www.blogger.com/profile/02332151189125703119noreply@blogger.com