Relevant:
- Fraudclosure Queen Wants You To Bask In Her Greatness
- JPMorgan Chase To Sell Mortgage-Backed Securities Backed By Loans In Default: Report
- How to Find Weeds in a Mortgage Pool
- SEC Invites Whistleblower Claims in JPMorgan Chase Mortgage Settlement
- Loan Modifications: Selling Loans Means Being Sold Down the River
2010-10-19 — zerohedge.com
Zero Hedge has been approached by an individual who participated directly in the various aspects of what is now broadly known as Fraudclosure. The below narrative recounts his experience in the due diligence process of selecting loans for the MBS pipeline. And far more than just legalese "technicalities" or a broad abrogation of property rights, as he points out there is a far more palpable issue for all those who hold Mortgage Backed Securities or other pool aggregations of mortgage loans: "we have no idea what is in those packages."
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