(Just Who Are We Giving Homes Of Americans to After All?)

In the vast majority of cases, foreclosures are not a simple, linear thing.  Bank of America has not made a decision to throw our neighbors, our fellow citizens out into the street because they cannot pay their bills.  Someone or something behind the scenes is telling Bank of America to act, because, in the vast majority of cases, Bank of America (and this goes for virtually all “The Banks”) do not own the mortgages that they are foreclosing on. I have repeatedly used the phrase,

THE WIZARD BEHIND THE CURTAIN TELLS BANKS TO FORECLOSE ON AMERICANS, THE WIZARD OWNS THE MORTGAGES

But here’s the thing….

There’s not just a Wizard Behind The Curtain, There’s an Overlord Behind The Wizard

Fannie and Freddie of course do not own the interests in the notes and mortgages unencumbered….parties that sit behind The Wizard own those interests….but don’t take my analysis standing alone….read what Fannie directly:

The mortgages that back a Fannie Mae MBS are held in a trust on behalf of Fannie Mae MBS investors and are not Fannie Mae assets.

As a Fannie Mae MBS investor, the certificateholder receives a pro rata share of the scheduled principal and interest from mortgagors on the loans backing the security. Interest is paid at a specific interest rate. The certificate holder also receives any unscheduled payments of principal.

And read the full document here

fannie-mae-basics-of-mbs

 

Who owns these interests?  All the financial players in the world. All those who own the gold. All those who control and manipulate the financial markets.  What we know for certain is that China stopped buying unsecured interests in US treasuries.  They said,

“The United States is a broke deadbeat, we’re not loaning you anymore.”

(You know kind of like the way judges like to beat up on homeowners in foreclosure.

So what did China start doing….in record volume purchases?  They tied their purchase of US financial instruments to secured interests….they took collateral.  That collateral?

The mortgage on the homes that judges are foreclosing on all across this country.  The consequences and implications are of course staggering.  But no one of course wishes to ask these questions or inquire the significance of such things.  After all, the higher thinking powers of the Florida Legislature have demanded that Florida’s judges must

CLEAR THE FORECLOSURE BACKLOG!

No one seems to mind that the backlog is being pushed into a market with record low mortgage applications and that The Wizard and The Overlord are actually taking title to these properties.  Again as I say….what could possibly be wrong here?

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