The fraudclosure crisis is the largest criminal and civil fraud ever committed upon any people, at any time in the history of the world. Trillions of dollars in wealth and equity…some of it real…some of it phantom…is slushing all around the world. Trillions of dollars in wealth, and the actual dirt that was the foundation upon which this nation was built, given and traded away to undisclosed and unknown parties. And our nation’s justice and court system, rather than slowing down and taking notice of all this, remain directly complicit in allowing this to continue.
For too many years, we have all sat back and watched as “The Banks” came into courtrooms demanding the right to throw American families into the street. And for too long, we all accepted that it was “The Banks” that actually had these rights. After all, we have been making our mortgage payments to “The Banks” and so, “The Banks” are who have the interest in “Our” homes and the land upon which this nation is built….right?
WRONG! In most cases, “The Banks” are merely servicers, debt collectors, straw parties hired to do the debt collecting duties on behalf of the true owners of the debt. The owners are Fannie, Freddie, and untold and completely unidentified interests, both foreign and domestic who, by taking interest in the debts have taken ownership interest in the very foundation upon which this nation was built.
This nation is not owned by We The People…it’s owned by Them The Owners of The Mortgage Debt
One would think that this concept might bubble to the surface in at least one or two courtrooms across this nation, but sadly this realization is not coming nearly fast enough. With disturbing uniformity, courts are far too comfortable transferring property along to whomever happens to be standing in a courtroom waiving around a note and demanding the right to throw an Amerikan family into the street. This fact is most disturbing in the context of plaintiff trusts or other entities that are not even close to being correctly identified or defined.
But what does it matter? Why should anyone care at all who is foreclosing on America? Who cares about who or what it is that is taking title to the very ground underneath our feet? I’m sure it mean nothing…….
Fannie Mae is at all times the owner of the mortgage note, whether the note is in Fannie Mae’s portfolio or whether owned as trustee, for example, as trustee for an MBS trust. In addition, Fannie Mae at all times has possession of and is the holder of the mortgage note, except in the limited circumstances expressly described below. Fannie Mae may have direct possession of the note or a custodian may have custody of the note. If Fannie Mae possesses the note through a document custodian, the document custodian has custody of the note for Fannie Mae’s exclusive use and benefit.
At the conclusion of the servicer’s representation of Fannie Mae’s interests in the foreclosure, bankruptcy, probate, or other legal proceeding, or upon the servicer ceasing to service the loan for any reason, possession automatically reverts to Fannie Mae, and Fannie Mae resumes being the holder, just as it was before the foreclosure, bankruptcy, probate, or other legal proceeding. If the servicer has obtained physical possession of the original note, it must be returned to Fannie Mae or the document custodian, as applicable. The temporary transfer of possession, and any reversion of possession to Fannie Mae, are evidenced and memorialized by this Section of the Guide. This Guide provision may be relied upon by a Court to establish that the servicer conducting the foreclosure, bankruptcy, probate, or other legal proceeding in its name has possession, and is the holder, of the note during the foreclosure, bankruptcy, probate, or other legal proceeding, unless the Court is otherwise notified by Fannie Mae.