from Lynn Szymoniak

her notes

  • Trusts have 2 to 6 groups….
  • Loans drop off as folks stop paying
  • Bottom payment streams of groups stop paying first, then more and more payment streams drop off
  • So Trusts stop paying
  • Some of the layers get sold off, some to Freddie, they build pieces of various trusts and make new trusts to make new investments
  • Freddie and Fannie backed Trusts “we not promising that we are going to back these with full faith and credit of US Gov”, however tax payers are backing them., the money has to come from somewhere.  The Counties, and other investors must continue to get their distributions.
  • Taxes on the other hand get faced with continuing austerity measures.  This is TOTALLY unsustainable.
  • The property values decrease and there will be less mortgage payers to keep the trusts going. When you pay your mortgage you are supporting a criminal enterprise.
  • American Home Mortgage Backed Trusts have less than 18% performing loans paying.
  • Investment bank, insurance companies, etc heavily invested in this securities and  were wiped out through their gambling with these. In case of disaster, Insurance companies heavily invested in these won’t have the money to pay insurance claims.
  • This is not about deadbeat homeowners, homeowners under water will fail at some point.
  • Local and state governments invested in these will eventually lose as the trusts revenue streams dry up.  This effects all of us whether you have a home or not.
  •   The investment reports are all fake, 1/4 of loans or less are performing, however the banks are insolvent and they need to keep the scam going to hide the fact that they are heavily invested and stuck.
  • The Banks are Lying Cheating and Stealing to survive.
  • Our GOVERNMENT is stuck with being able to say the truth that the banks are insolvent.
  • GOV is pretending the banks are OK.  This is a criminal enterprise
  • Most Trustees will refuse to modify, if they do they put it on back end and when you sell home, you own more than home is worth
  • In the long run, this will create a problem that continues
  • Foreclosure mills are used to foreclose, they are willing to lie, cheat, and steal.  They don’t have legal right to foreclose but they have to make it all up, and judges know it. Judges protect them

It is very serious to our nation to not prosecute this massive crime, while judges work to protect banks that got so greedy, they gambled our national dream away

  • Freddie Mac and Fannie Mae are as guilty as any of the other financial institutions.
  • Lender Processing Services, they process foreclosures, sell title insurance, robo-signing around the country, they do securitization audits.  A very dangerous entity that is very powerful.

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