Securitization Audits-Questioning Securitization of Mortgages

I just watched the latest Michael Moore movie, Capitalism, a Love Story. This was my second look. I know a lot of people dont think much of Michael Moore. I have a great deal of respect for him. I think some of his tactics are shamelessly gimmicky like pretending to make citizens arrests of executives on Wall Street or standing in front of the Citibank building with a money bag and a Brinks truck and demanding the taxpayers money back, but his point is always well made. In this case his point is that Banks have infiltrated and control the highest levels of US government to the detriment of the entire country. He underscores the slick manipulated congressional robbery of the national treasury by $800 billion with absolutely no judicial oversight after Congress first turned the package down as a result of the millions of calls coming in from the people of each congressional district. No one in government can tell you where this money went. No one from the corporate elite will tell you. When I think of how these banks and lending institutions are foreclosing on homes using illegal foreclosure Mills I cant help but wonder if Moore isnt entirely correct. This just might be the strongest tell tale sign of the beginning of the end for Capitalism. It seems to be crashing in on itself. Any farmer that kills off his own herd in an orgy of selfish personal gluttony while watching his neighbors starve is not long for the farming business, it would seem to me. Having said that there are some very strong methodologies being incorporated into the gun lockers of foreclosure prevention attorneys and other related service shops. Securitization Auditing is one of the most powerful tools Ive seen in the fight to save a home from a foreclosure Mill where the mortgage servicer does not actually have standing or capacity to foreclose on a home because they [or the loan pool Trust] they purport to represent do not properly own the note for which the substitute Trustee (foreclosure Mill) is claiming to represent to the local court. The Securitization Audits unveils this lack of standing & lack of capacity. Here are some of the things that one might find out about their note through a Securitization Audit: First a little background on Securitization. For a very long time financial instruments have been getting securitized into entities and sold off to investors in the form of stocks or bonds or some other form of interest in the entity. Sallie Mae was created to securitize student loans and sell investment vehicles to investors based on the long term returns of student loans packaged within student loan backed securities. A Mutual Fund is really nothing more than a fluid managed group of securitized stocks or bonds or treasury bills grouped into an investment company (the vehicle) with a directive to either create income, pursue aggressive equity growth, pursue slow steady equity growth with higher safety, or some combination of these or other investment objectives to which the Mutual Fund hires a (hopefully) competent investment management team to effect. In all of the above cases, the management team is responsible to the investors pursuant to the listed investment objectives which are listed in the prospectus of the mutual fund. Same with ETFs, bond funds, treasury bill funds. etc. mortgage backed securities are stakes in a separately incorporated entity whose objective is to purchase pools of mortgages and then transfer the income from the streams of revenue from the individual notes (secured by the deeds of Trust) to the owners of the stakes. These became highly popular to Wall Street in 04,05,06 and a veritable ticking time-bomb within our economy because of world wide investor appetite for these seemingly lower risk but higher return securities backed by deeds of Trust on real property in the USA, the strongest economy on the planet.

The brilliant Wall Streeters came up with diabolical methods for creating guaranteed returns through alternative insurances on the loan pools and by tranching the investments in multiple series allowing an investor to dial in their particular investment vehicle based on their appetite for risk or aversion to risk . What I mean by tranching is simple and I am not trying to complicate it. The investment bankers, God love em, would create Tranche A shares, Tranche B shares and Tranche C shares in each mortgage Trust. Tranche A is safer and is paid by the more conservative mortgages. Tranche C contains the more risky mortgages. Heres the kicker, Tranche A investors are not only paid their returns by the Tranche A mortgages, but they are paid also by B & C mortgages in the event of any default within the A Tranche . The A Tranche investors are guaranteed their returns even by the revenue generated from the mortgages purchased by Tranche C investors. So homeowners with higher risk sub prime loans paying their Tranche C mortgages might be paying the mortgages of other homeowners and not their own mortgages. This entire scheme underscores the difference in how the elite control the masses. The elite wealth is not only guaranteed by the investment collateral for investments made by the elite, but also at the detriment to investment collateral backing investments made by the masses. There is no more room in the elite class. The door is now closed, with the exception for the luckiest of blind squirrels who finds a golden nut. First class is full and economy must give up its parachutes to the wealthy in the event that someone in first class forgot to pack a chute. Anyway, back to the reality of Securitization Auditing. Another method these guys came up with to increase the marketability of these mortgage backed securities is the Credit Default Swap- or CDS. The Credit default swap-CDS is a method of guaranteeing returns by having someone buy from your entity the default event. In other words a mortgage default is commoditized as a potential event and entities that had no insurance regulators to regulate their purchase or sale were purchasing or short selling these events. Its a slick way of rigging the game to make Moodys and S&P give better ratings to a pool because it created the illusion of security and guaranteed return without having any regulatory oversight to look at the underlying financial health of the issuer of the default swap contract, most of these issuers were off shore entities with no assets other than the dollars given to them to issue the default event purchase which of course they pocketed. It was the biggest Wall Street shell game hoax ever perpetrated and allowed scam artists of the highest blue blood breeding to make off with billions while imploding our real Bond guarantee corporations AMBAK, MBIA and absolutely demolishing the foundation of our entire mortgage industry FANNIE MAE & FREDDIEMAC as well as tanking all of the lenders who were caught in the cross fire. It was a rigged musical chairs game. How is it that these bankers, Bank of America, OneWest, Goldman Sachs are making billions and billions right now? How did they dodge the bullet? How is it possible that Bank of America, which cut a deal with the government to purchase Countrywide, the single largest issuer of sub prime mortgages currently in default is making billions each quarter? Simple, many if not most of the mortgages currently in default have already been paid for. The foreclosures taking place on many of these homeowners burdened with a sub prime loan are already paid for by either PMI insurance, Credit default swap-CDSs or TARP. The banks are foreclosing on homes for which the note has already been paid at least in part by insurance. The foreclosure is icing on the cake. Its a windfall profit and I would argue that its fraud. Shouldnt the benefit of a foreclosure inure through subrogation to the entity insuring the default? Shouldnt a Note that has been

paid off (albeit by insurance) mean that the note is paid? No, the elite want it all; they want TARP to buy the troubled assets; they want the insurance money; they want your home, the FDIC Loss Share, the PMI, the default swap cash, and then the icing on the cake, the proceeds from the REO sale of your home. They do want it all. FDIC guarantees through Loss Share Agreement 80 % of any loss OneWest experiences on its IndyMac portfolio, OneWest only paid 70 cents on the dollar for the assets based on the discounted value of the assets at the time of purchase. The loss is calculated from the face value of the notes. Its an insane deal that OneWest was able to cut with FDIC to the benefit of the elite at the cost of the taxpayer. Guess who owns OneWest? John Paulson, and former executive from Goldman Sachs, George Soros and a bunch of other Goldman Sachs brass. Go figure. Bank of America has the same arrangement with the FDIC and is now sending out principal reduction modification offers to all of its sub prime homeowners as the illegal foreclosure machine shows serious signs of distress . What the hell does all of this have to do with Securitization Audits? OK, Ive gotten way off track so let my reel in my A.D.D.. A Securitization Audit tracks the ownership of a note as it makes its way from the loan originator into a pool of notes and finally into a Trust which is sold off to the investors. The Securitization Audit looks specifically at endorsements required by the PSA-Pooling and Servicing Agreement which is located within the prospectus of the particular series of mortgage backed securities. It looks to see if the note was properly placed within the Trust pursuant to the PSA. The PSA requires that all of the endorsements, every PSA Ive read requires that each entity through which the note ownership has traveled endorse the note to the successor owner. A Securitization Audit seeks to find signatures that were notarized after an entity was bankrupt or made by the wrong party or were not made within a time frame required by the PSA or never made at all. A Securitization Audit looks for breaches of the rules outlined by the PSA. Or to find that a note had no signatures and was illegally or never actually placed into the Trust and is therefore potentially owned by a bankrupt entity and not properly or legally transferred to a foreclosing Substitute Trustee because there was never any standing or capacity. A Securitization Audit tests and demands that MERS not be allowed to fraudulently comply with the lenders use of MERS as a method to obfuscate ownership and illegally transfer title by a illegally signed affidavit to a non-party. A Securitization Audit attacks the robo-signer industry. Securitization Audits show the fraudulent vulnerable underbelly of the entire Securitization & mortgage backed security sales and illegal deed enforcement process. It reveals on a one off basis the most vulnerable place to attack and kill this overfed ham-fisting elitist Wall Street behemoth pig. In general these Securitization Audits show on an one-off basis how the US banking regulators screwed up when they deregulated the banking industry. A Securitization Audit is the biggest gun you can arm your attorney with to defend your home against illegal foreclosure. Mers cannot foreclose on your home, they do not own your note. they have no interest in your note, MERS is nothing more than an electronic filing cabinet. [wpvideo slq4vTUr]

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We are in Virginia, we do Securitization Audits and foreclosure defense in Virginia, Pennsylvania, North Carolina and Florida. We have very strong foreclosure defense attorneys in Virginia, Maryland, DC, Pennsylvania, North carolina, New York, Utah, Oregon, Washington State, California and Florida. We are looking for attorneys to refer foreclosure defense to under a recriprocal referral program in the following areas: New York New York Los Angeles California Chicago Illinois Houston Texas Phoenix Arizona Philadelphia Pennsylvania San Antonio Texas Dallas Texas San Diego California San Jose California Detroit Michigan San Francisco California Jacksonville Florida Indianapolis Indiana Austin Texas Columbus Ohio Fort Worth Texas Charlotte North Carolina Memphis Tennessee Baltimore Maryland Boston Massachusetts El Paso Texas Milwaukee Wisconsin Denver Colorado Seattle Washington Nashville Tennessee Washington District of Columbia Las Vegas Nevada Portland Oregon Louisville Kentucky Oklahoma City Oklahoma Tucson Arizona Atlanta Georgia Albuquerque New Mexico Kansas City Missouri Fresno California Sacramento California Long Beach California Mesa Arizona Omaha Nebraska Cleveland Ohio Virginia Beach Virginia Miami Florida Oakland California Raleigh North Carolina Tulsa Oklahoma Minneapolis Minnesota Colorado Springs Colorado Honolulu Hawaii Arlington Texas Wichita Kansas St. Louis Missouri Tampa Florida Santa Ana California New Orleans Louisiana Anaheim California Cincinnati Ohio Bakersfield California Aurora Colorado Pittsburgh Pennsylvania Riverside California Toledo Ohio Stockton California Corpus Christi Texas Lexington Kentucky St. Paul Minnesota Anchorage Alaska Newark New Jersey Buffalo New York Plano Texas Henderson Nevada Lincoln Nebraska Fort Wayne Indiana Glendale Arizona Greensboro North Carolina Chandler Arizona St. Petersburg Florida Jersey City New Jersey Scottsdale Arizona Norfolk Virginia Madison Wisconsin Orlando Florida Birmingham Alabama Baton Rouge Louisiana Durham North Carolina Laredo Texas Lubbock Texas Chesapeake Virginia Chula Vista California Garland Texas Winston-Salem North Carolina North Las Vegas Nevada Reno Nevada Gilbert Arizona Hialeah Florida Arlington Virginia Akron Ohio Irvine California Rochester New York Boise Idaho Modesto California Fremont California Montgomery Alabama Spokane Washington Richmond Virginia Yonkers New York Irving Texas Shreveport Louisiana San Bernardino California Tacoma Washington Glendale California Des Moines Iowa Augusta Georgia Grand Rapids Michigan Huntington Beach California Mobile Alabama Moreno Valley California Little Rock Arkansas Amarillo Texas Columbus Georgia Oxnard California Fontana California Knoxville Tennessee Fort Lauderdale Florida Worcester Massachusetts Salt Lake City Utah Newport News Virginia Huntsville Alabama Tempe Arizona Brownsville Texas Fayetteville North Carolina Jackson Mississippi Tallahassee Florida Aurora Illinois Ontario California Providence Rhode Island Overland Park Kansas Rancho Cucamonga California Chattanooga Tennessee Oceanside California Santa Clarita California Garden Grove California Vancouver Washington Grand Prairie Texas Peoria Arizona Rockford Illinois Cape Coral Florida Springfield Missouri Santa Rosa California Sioux Falls South Dakota Port St. Lucie Florida Dayton Ohio Salem Oregon Pomona California Springfield Massachusetts Eugene Oregon Corona California Pasadena Texas Joliet Illinois Pembroke Pines Florida Paterson New Jersey Hampton Virginia Lancaster California Alexandria Virginia Salinas California Palmdale California Naperville Illinois Pasadena California Kansas City Kansas Hayward California Hollywood Florida Lakewood Colorado Torrance California Syracuse New York Escondido California Fort Collins Colorado Bridgeport Connecticut Orange California Warren Michigan Elk Grove California Savannah Georgia Mesquite Texas Sunnyvale California Fullerton California McAllen Texas Cary North Carolina Cedar Rapids Iowa Sterling Heights Michigan

Columbia South Carolina Coral Springs Florida Carrollton Texas Elizabeth New Jersey Hartford Connecticut Waco Texas Bellevue Washington New Haven Connecticut West Valley City Utah Topeka Kansas Thousand Oaks California El Monte California Independence Missouri McKinney Texas Concord California Visalia California Simi Valley California Olathe Kansas Clarksville Tennessee Denton Texas Stamford Connecticut Provo Utah Springfield Illinois Killeen Texas Abilene Texas Evansville Indiana Gainesville Florida Vallejo California Ann Arbor Michigan Peoria Illinois Lansing Michigan Lafayette Louisiana Thornton Colorado Athens Georgia Flint Michigan Inglewood California Roseville California Charleston South Carolina Beaumont Texas Victorville California Santa Clara California Costa Mesa California Miami Gardens Florida Manchester New Hampshire Miramar Florida Downey California Arvada Colorado Allentown Pennsylvania Westminster Colorado Waterbury Connecticut Norman Oklahoma Midland Texas Elgin Illinois West Covina California Clearwater Florida Cambridge Massachusetts Pueblo Colorado West Jordan Utah Round Rock Texas Billings Montana Erie Pennsylvania South Bend Indiana San Buenaventura (Ventura) California Fairfield California Lowell Massachusetts Norwalk California Burbank California Richmond California Pompano Beach Florida High Point North Carolina Murfreesboro Tennessee Lewisville Texas Richardson Texas Daly City California Berkeley California Gresham Oregon Wichita Falls Texas Green Bay Wisconsin Davenport Iowa Palm Bay Florida Columbia Missouri Portsmouth Virginia Rochester Minnesota Antioch California Wilmington North Carolina Please call us at 540-341-1481 We can do a securitization audit for any of the following lenders: We have added the loss mitigation contact information for each lender.. Altegra Credit Co. Loan Services Loss Mitigation Department (Home Loan Services) Gary Fedoronko Gary_Fedoronko@HLS.ML.com 412-918-7552 American Home Mortgage Servicing fka Option One Loss Mitigation Department Donald Kelly Donald.Kelly@ ahmsi3@oomc.com 904-996-1748 Ameriquest Mortgage Co. Loss Mitigation Department (Citi Residential Lending) Tess Hoo teresa. hoo@citi.com 714-634-2474 ext 38864 BancorpSouth Loss Mitigation Department Carla Hall carla. hall@bxs.com 662-620-3644 Bank of America Loss Mitigation Department Nick Kieser nicholas.j. kieser@bankofamerica.com 716.635.7112 Cynthia Mech Loss Mitigation Department cynthia. mech@bankofamerica.com 716-635-2760 Boshwit Bros. Mortgage Co. Loss Mitigation Department Andrew Boshwit aboswhit@comcast.net 901-272-0100 Chase Manhattan Mortgage Co. Loss Mitigation Department (Chase Home Finance) No Certain Person 800-446-8939 Chevy Case Bank / B.F. Saul Mortgage Loss Mitigation Department Jeff Huston jrhuston@chevychasebank.net 301939-4057 Jana Gantt jmgantt@chevychasebank.net 301-939-4054 Cimarron Mortgage Co. Loss Mitigation Department Ronnie Greenhagen ronnieg@ecimarron.com 601-899-1547 (voice) 601-899-1502 (fax) Citifinancial Mortgage Loss Mitigation Department Dianne Whatley dianne. whatley@citigroup.com 972-657-3090 Citimortgage Loss Mitigation Department John Godinet John.j. godinet@citigroup.com 301696-5069 301-696-4473 (fax) Leann Luhn Leann. luhn@citigroup.com 301-696-4267 301-6964473 (fax) Colonial Bank Loss Mitigation Department Gerald Banks Gerald_Banks@colonialbank.com 800-222-0661 Countrywide Loss Mitigation Department Kelly May kelly_may@countrywide.com 805-577-3011 Bobbi Hook bobbi_hook@countrywide.com 214-200-2594 Trent Thompson

trent_thompson@countrywide.com 972-498-6206 Gentry LaFon gentry_lafon@countrywide.com 972-498-6117 Davison State Bank Loss Mitigation Department Lori Barton lorib@thestatebank.com 810-714-3940 EMC Mortgage Loss Mitigation Department Michael Brown 214-626-3689 Kristen Belmonte Kbelmonte@bear.com 214-626-5488 Fentura Mortgage Loss Mitigation Department Lori Barton lorib@thestatebank.com 810-714-3940 1st Trust Bank for Savings Loss Mitigation Department (Magna Bank) Robin Terry robin. terry@magnabank.com 901-309-7999 ext 4413 First Horizon Loss Mitigation Department Leigh Ann Hammon Lhammon@firsthorizon.com 214-441-7329 Shantell Williams shtaylor@firsthorizon.com 214-441-6013 First Tennessee Loss Mitigation Department Carol Wilkerson cawilkerson@ftb.com 865-582-4030 Flagstar Bank Loss Mitigation Department Jerri A. Willis Jerri.A. Willis@flagstar.com 248-312-6690 (phone) 888-710-8130 (fax) GMAC Rescap Loss Mitigation Department, Homecomings Financial and GMAC Loss Mitigation Department For information on our Loss Mitigation Program, please refer to www.gmacmortgage.com, click on the link Help for Homeowners to obtain a workout application and instruction. To inquire about the status of an existing application, please call 1-866-709-4744. If you have completed a workout application and have all required supporting documents, please fax to 1-866-709-4744 or, 1-800,211-3539. Litton Mortgage Loss Mitigation Department Randy Reynolds rreynolds@litton.c-bass.com 713966-8985 John Crandall John. Crandall@littonloan.com 713-561-8211 (phone) 713-793-4304 (fax Litton Mortgage c/o Prommis Solutions Loss Mitigation Department Brad Norwood Bradly. Norwood@Prommis.com 770-643-7288 Tel. 1-866-480-4949 Fax MB Financial Bank Loss Mitigation Department Nannette Makarzyk Nmakarzyk@mbfinancial.com 847-653-2840 (phone) 847-653-0099 (fax) M & T Bank Loss Mitigation Department Judith Palmer JPalmer@mandtbank.com 716-635-4008 Tel. 716-635-4070 Fax National City Mortgage Loss Mitigation Department 1-800-367-9305 Ext. 57153 Ocwen Loss Mitigation Department Cindy White cindy. white@ocwen.com 404-737-5544 PHH Mortgage Loss Mitigation Department 800-750-2518 MBSLMReferrals@mortgagefamily.com Real Time Resolutions Loss Mitigation Department Angela Jump Angela_Jump@rtresolutions.com 214-599-6376 direct 877-469-7325 ext 6376 214-599-6388 Fax Resurgent Capital Services Loss Mitigation Department General Contacts Jessica Gullick jgullick@resurgent.com 864-248-8664 Escalated Contacts: Sherrie Emerson semerson@resurgent.com 800-365-7107 ext 8615 Karen Gearhart kgearhart@resurgent.com 800-365-7107 ext 8355 Michael Keaton mkeaton@resurgent.com 800-365-7107 ext 8756 SunTrust Mortgage, Inc. Loss Mitigation Department Ann Oley ann. oley@suntrust.com 804-291-0843 Select Portfolio Servicing Loss Mitigation Department Joann Goldman joann. goldman@spservicing.com 801-594-6338 The State Bank Loss Mitigation Department Lori Barton lorib@thestatebank.com 810-714-3940 Washington Mutual Home Loans Loss Mitigation Department David Whitman 904-886-6113 Julie A. Mathis 904-886-1305 Chrissy Lopez 904-886-1313 Shalonda C. Anderson shalonda. anderson@wamu.net 904-462-2237 Wells Fargo Financial Loss Mitigation Department Pam Gross Pam. Gross@wellsfargo.com Wells Fargo Financial Bank Loss Mitigation Department 515-331-9130 or 866-533-2108 Wells Fargo Home Mortgage Loss Mitigation Department Kimber Dehning Kimber.Dehning@wellsfargo.com 815-577-9008 Wilshire Credit Corporation Loss Mitigation Department Jodi Seits jodi_seits@wcc.ml.com 503-223-5600 Tricia Patterson tricia_patterson@wcc.ml.com 503-223-5600

If you are in mortgage trouble of any kind, we can direct you to the right resources and we are glad to help. Office: 540-341-1481 Cell: 703-615-0950 Email: info@legalforensicauditors.com Website: www.LegalForensicAuditors.com