Latest Wall Street Milking Machine

[Sparta]

Now that the banksters have stolen millions of homes from duped "home-owners" who thought that they really had ownership, Wall Street has a new gimmick to securitize your signatures, now in the works.

I analogize it this way: Milk the cow ("milk" being the mortgage payments); then steal the cow; then re-define the "milk" (now called rent); then "re-securitize" the milk.

Same milk from the same milk-cow ... just a different milking machine ... now called "Foreclosed Rental Securities" instead of "Mortgage Backed Securities." Just another diabolical derivative market. Watch it grow.

http://www.moneynews.com/StreetTalk/investors-foreclosed-rental-securities/2012/07/23/id/446199?s=al&promo_code=F8A8-1

[The Machine]

this machine had no part in that !!

[Blondie121]

WOW! Makes me wonder how far they will go and I sincerely hope I never find out.

[rockfl9]

I know this sounds cruel. Especially if you have or know someone that has been forclosed on.. But we have people who cannot OR choose not to meet their financial obligations.. So a housing unit becomes vacant and the lender needs to return it to an income producing state.. These firms buy them from the banks and turn them into rentals , which solves the other side of the housing problem.. They fund the process by selling thes bonds.. I am involved in a local business doing just that.. So dont think it is a bad thing. If you had a nice home but tha homes on both sides vacant and not cared for you would be happy to have someone fix them up and bring in new neighbors to keep them from becomming vandal bait.

[Sparta]

I know this sounds cruel. Especially if you have or know someone that has been forclosed on.. But we have people who cannot OR choose not to meet their financial obligations.. So a housing unit becomes vacant and the lender needs to return it to an income producing state.. These firms buy them from the banks and turn them into rentals , which solves the other side of the housing problem.. They fund the process by selling thes bonds.. I am involved in a local business doing just that.. So dont think it is a bad thing. If you had a nice home but tha homes on both sides vacant and not cared for you would be happy to have someone fix them up and bring in new neighbors to keep them from becomming (sic) vandal bait.

Your point is well -taken, Rock. However, it begs the issue as to my point. The foundational egregiousness of the Mortgage-Backed Securities is: there was not disclosure about the fact that the "debtors'" signatures were going to be used to back a security instrument, then sold, thru MERS, and the like. That system was a fraud, because the banks had no skin in the game, then profited by securitizing the "debtors'" signatures.

Now, they will be doing the same thing, -- only it will be "renters'" signatures that will be securitized, again with bankers profiting while having no skin in the game. I wish you all of the success with your "local" endeavor, but please know this: The bankers are merely securitizing the same property, using the signature of the tenant, only as a result of re-defining the term as "tenant" , from what it used to be, "home-buyer." After you have studied more about this subject of how the banks duped "home-buyers" into thinking that they had rights to ownership when, in fact, they were "tenants", then you will have my OK to "sound cruel." Also, after you study about what "money" really is (it is debt on the backs of the people) and what it really is to the banks, then perhaps you will know more about your "local" endeavor, and what it really is all about.

Finally, I hope that you will disclose, at the time that you have a "tenant" sign a lease .. I hope that you will fully disclose the fact that his/her signature will be sold, then sold again, then sold again, the pooled, then pooled again, then turned into a Foreclosed-Rental Security, then "credit-default-swapped", so that just in case a few more hundred million people fall on hard times, they shall shall be evicted, again with the banksters having no skin in the game. Once you get a grip on the "money" definition, you may wish to re-think the likelihood that your career as a "local" seller of these "foreclosed-rental bonds" is anything but just another machine for another round of stomping on people's rights to be secure in there homes. Those "bonds" are destined to be the next round of "mortgage-crisis", but with a different name. Same cow, same milk ... just a different milking machine.

[Maggie123]

Sparta Thanks for bringing this timely article in. I understand how bad this new plan is that the banks (and government) have put together. As if the first go around wasn't bad enough! They are going to sell even more crap to investors and other countries. Sicko! Power Grabbing Greed!

I was talking to a neighbor today and he explained what was going on with a house he was trying to buy in a short sale. After it was foreclosed on from the previous owner, he rented it from Fannie May on a years lease without even living in it. He was hoping that he could get to the right people at Fannie and secure a contract to buy it. Sounds like a good plan, eh? Well no one at Fannie's could figure out how to do that. He was never allowed to make an offer and no offer was made to him, for the whole year of him trying to "get to the right person". In the meantime the management co. contracted by Fannie is now chomping at the bit for his lease to end (2 days ago) so they can make a few bucks fixing it up for the next renter. They don't make much, but that is how they make their money. They are hoping to have a large volume of homes to make up for the low pay. Well now it get's even more convoluted because Fannie has contracted with a realtor to possibly sell it "as is". So he is fighting to get it away from the management co. and get it on the market, because that is how he makes his money. My friend is walking away from buying it because even if it is listed and he could write an offer, he doesn't want to deal with Fannie and all the other realtors that will be trying to get their offers through, driving up the price and wasting months of his time. He's Done!!!

After he was finished explaining his situation to me I said it seemed by design that he wasn't able to negotiate during the last year. I said it must be to their benifit somehow and that it must be greed. He said, "NO! It's all about POWER".

Quite a "Machine" they got going there, eh? Seems to me they are pretty hot to make us all "renters". It doesn't look like they are too interested in selling homes anymore.

Edited July 27, 2012 by Maggie123

[Sparta]

Maggie, your story about your neighbor nails it. I rest my case. Thanks. "They" do not want the property sold. They simply want more signatures, because each signature creates a new "security" that they can now put on the market thru this new "Milking Machine." New renter means "fresh milk" that they can churn. Using rent income, rather than mortgage payment income, they now have milk, called a lease, instead of milk ,called mortgage payments. "Rent" milk churns faster than "mortgage-payment" milk, and it costs less to merely "evict" than it costs to "foreclose." Again, I say, know this. Money is debt and debt is money. It all falls on the backs of the people, thru securitization of people's signatures. A lease is the same as a mortgage "debt", but with a different name. It is a money-stream that they securitize, and will, in many cases, the lease-defaults will be further used to violate people's rights to be secure in their homes. Another POWER grab, as you say. Tell your neighbor that he can be glad that he got shut out from the scheme, and shame on those realtors who are out there acting as the pipeline from the milking machine to the bulk tank. Thanks for your insightful reply, Maggie.

[Maggie123]

Sparta I could not believe the coincidence of having that chat with my neighbor and then seeing your article and comments the same day! We talked alot about Fannie mae, but he never mentioned the securitization aspect. I walked away shaking my head, it just didn't make sense.

After I saw your post it hit me like a ton of bricks! All the dots connected!

The banks have been paid, a couple of times now, but they still have all those pesky houses they have stolen. Mortgage Backed Securities are not at all popular any more. So they say... "I know! We will just keep forcing people out of their homes. We won't work with them on loan modificaions, short sales or any other remedies, especially if they are Fannie's houses. Although, we will rent it back to them after we are done stealing it from them. We will just corral them all up there on wall street, and start bundling them into "Rent Back Securities". Hey We Need More Forclosures! We got a machine to feed here!"

I can't even imagine after the fallout from mortgage backed securities in 2007 and our weakened economy, what the "rent backed securities" are going to do to this nation when the house of cards comes tumbling down. I have a really bad feeling about all this. Not just a feeling, the writing is on the wall in great big letters.

Thanks Sparta

Edited July 28, 2012 by Maggie123

[Sparta]

Maggie, you are really a ray of hope, and you have made my day. I wish more people would "see the light." We are, however, helping to play a role in waking the people up. Your comments are enlightened, as well as enlightening, indeed. If you want to listen to some interesting stuff about this securitiazion scam, go to setoffdebt dot com. Scroll down to bottom and listen to the 3 Get Grounded audios. Also, there is a very neat, short, and sweet video on freedomclubusa dot com. As for "seeing the light," we can only hope that the light we are seeing is not the train coming at us.

In peace and blessings, Maggie, and thanks to you also.

[Maggie123]

Sparta Thank You again for your kind words.

Honestly I am not that enlightened about all of this. I am just starting to catch on.

I think people are going to "see the light" whether they want to or not. This affects everyone of us. I'll bet half the homeowners on this site are upside down in their homes. I saw a heart breaking thread today about something to do with the new Currency. There were three people out of jobs, one about to become homeless, and that was in just a short thread. They were saying this RV really needed to happen for them... I couldn't even respond because of the tears.

I sure wish Msmortgagewiz would weigh in on this she is one of the few good people in banking that is earnestly trying to help homeowners. She is one smart lady too! Mort Where Are You? Come on... I spelled your name right!

I have saved your links Sparta and look forward to seeing them.

Hugs, Maggie

[rockfl9]

I do not know where this "securitizing" leastor signatures came about , but it is not true.. it's a normal lease and the leasor is not obligated in any other way... The signature has no value other than to support the lease.. We do a credit check and background check and consider that info confidential. Been doing this for 4 years and to date only had to remove one tennant....

[64jaguar]

I do not know where this "securitizing" leastor signatures came about , but it is not true.. it's a normal lease and the leasor is not obligated in any other way... The signature has no value other than to support the lease.. We do a credit check and background check and consider that info confidential. Been doing this for 4 years and to date only had to remove one tennant....

Rockfl9, you've got a lot to learn bro. Our money system is nothing but a Debt system, there is no money. Every time you sign or seal a mortgage, a credit card agreement or pay a statement you are accepting an offer from the party that sent it to you to create or print more Debt or Federal reserve notes. In fact when you sign or seal a mortgage the bank puts a credit on their books, turns around and gives you the credit back to buy the house. They then create a mortgage obligation to pay back the supposed loan they gave you, (all by deceit), which was never a loan at all. They then sell the mortgage and note (your Promissory Note) multiple times. When you default on that mortgage you can't even try to pay them back because they are waiting for the 90 days where they paid by Insurance on the Defaulted loan for the full amount ( Called the Credit Default swap). The bank has been paid multiple times and they Still want the house. You would think the only one that has a real claim to the property would be the Insurance Co. right? Well they were all duped into insuring unsecured loans. ah la A.I.G., who went bust because they had to pay all those credit default claims and guess who bailed them out? You... and Me. The Banksters Never have any skin in the game in fact if you read their own publications they admit that a Federal reserve bank cannot lend its own money or Credit or the Money or credit of it's depositors. But they don't have too because you and the rest of the world has been lied to for so long you think they lent you money. It's ALL Fraud. Back in 1933 the Government stole all the deeds to the property of the American People and made you a tenant. You don't own your home even after you've paid it off, in fact you don't own your car or anything. It's nice being a Citizen isn't it! No Property and no rights... just privileges.

[Sparta]

Jaguar, I don't know who you are, nor do I know where you have learned what you have learned, but wherever you learned it, you are definitely an A+ student. I feel sorry for those who will never take the time to figure it out. The truth is all over the place, yet most people continue to live in denial about the extent of the fraud that has been perpetrated thru the "debtor=money" ruse. You, also, Jaguar, and I will reiterate my correspondence with Maggie, ... people like you and Maggie give me hope that perhaps the people shall be awakened. All we can do is the best that we can do to spread the truth to the people. Thank you for your comment.

[64jaguar]

Jaguar, I don't know who you are, nor do I know where you have learned what you have learned, but wherever you learned it, you are definitely an A+ student. I feel sorry for those who will never take the time to figure it out. The truth is all over the place, yet most people continue to live in denial about the extent of the fraud that has been perpetrated thru the "debtor=money" ruse. You, also, Jaguar, and I will reiterate my correspondence with Maggie, ... people like you and Maggie give me hope that perhaps the people shall be awakened. All we can do is the best that we can do to spread the truth to the people. Thank you for your comment.

Unfortunately, Sparta, I had to learn the Hard way. Fighting the Banksters now since 2008 to keep them out of my home. The Courts are all in the Banksters back pockets but lucky for us the Banksters HAVE NOTHING but Lies and deceit. If they get away without presenting any evidence in the Court they'll steal your house and the Courts are always too willing to accommodate because they are getting paid off and are in collusion with the Banksters. Another thing I might add is that 99% of these mortgages ARE securitized. They become Stocks, and when they do the security in the Real Estate disappears. If you have visited setoffdebt.com I know you understand the problems we face but the Truth WILL win out eventually. I've got lists of court successes fighting these Bankster scum but I know it hasn't reached my home state yet. Like I said before the BANKS GOT NOTHING and they know it. If we ever get to the point where these mortgages are settled and written of it will actually help the country as a whole by removing all that mortgage debt. It's a convoluted system by design but these banksters are just Stealing Americas wealth. I could go on forever here, but thanks for the kind words. This country has a Much Bigger problem with All its Debt and that is CHINA but that's for another thread.

[Maggie123]

update... Sparta

My neighbor... I called him to tell him I had an article to give him. Um... nope, he did not know about this.

He did tell me that he had been through some trama about the door locks.

It seems the property management sector had changed the locks, while the sales sector changed the locks back on them. The police were called.

Tom, my neighbor introduced my new neighbors to each other. Fannie meet Fannie.

Isn't that special?

PS. He writes for a national news paper.

[Sparta]

update... Sparta

My neighbor... I called him to tell him I had an article to give him. Um... nope, he did not know about this.

He did tell me that he had been through some trama about the door locks.

It seems the property management sector had changed the locks, while the sales sector changed the locks back on them. The police were called.

Tom, my neighbor introduced my new neighbors to each other. Fannie meet Fannie.

Isn't that special?

PS. He writes for a national news paper.

First, Fannie Property Management trespassed, stole locks, violated somebody's right to be secure. Then, Fannie Sales Sector did the same thing. There are felons lurking in the neighborhood, both named Fannie. Somebody needs to kick some Fannies. But I would be surprised if we will read much about it in the "national news paper." With all due respect to Tom, he has little to say about what gets printed. Never-the-less, I encourage Tom to investigate and at least try to report the truth. This kind of felonious activity is rampant by the likes of Fannie and Fannie, and anything that Tom can do to help expose the pervasive criminal activity will certainly be positive.

Thanks for the update, Maggie.

[Maggie123]

Sorry Sparta, maybe I wasn't clear...

Tom's lease was up a couple of days before, he had everything out that he had in storage there. The crazy part was that two divisions (prop mgmt and sales) of Fannie were locking each other out. They didn't seem to know about each other doing it and thought Tom must have been changing the locks. It was one of them that called the police. Tom had to go to the house and explain to them what was going on and that it wasn't him. "Fannie meet Fannie" What a pain in the "Fannie" for Tom.

When I told Tom about the article and what they want to do, he was just shaking his head in amazement. It sure explained a lot about what he had encountered in the past year trying to buy this house from Fannie. He is one smart guy and I believe he will write a good expose' for the major news paper he writes for. This is right up his alley and I can't wait to see his work.

I have to say it does creep me out having these people in my neighborhood. I would have much preferred to have Tom as my neighbor. Too bad, now we don't know what will happen with that house.

I'll keep you updated Sparta, as it unfolds. As The Word Turns... "The Day's Of Fannie Mae."

[Sparta]

I'll keep you updated Sparta, as it unfolds. As The Word Turns... "The Day's Of Fannie Mae."

Thank you. Please DO keep me updated about "The Maes Of Our Lives."