from Lynn Szymoniak

her blog notes

  • These Trusts were never regulated, not once by the SEC in all the years of their existence
  • Many SEC and DOJ folks were former employees of the Trust makers
  • Fannie and Freddie securitized many of these
  • Our money was used to create this mess!
  • Pooling and Servicing agreements were the rules of each trust and these were filed with the SEC
  • Servicer is named in the trust
  • Over time, 30 years, the number of loans in the Trusts drop off. Starts off with about 5000 loans.
  • 3/4 of loans single family residence
  • 70% of loans were 7-10% interest loans, most were adjustable.

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