Securitization is Illegal

Title: SECURITIZATION IS ILLEGAL.

AUTHOR: MICHAEL NWOGUGU, Certified Public Accountant (Maryland, USA);  B.Arch. (City College Of New York).

MBA (Columbia University).  Attended Suffolk Law School  (Boston, USA).  Address: P. O. Box 170002, Brooklyn, NY 11217, USA. Phone/Fax: 1-718-638-6270.

Email: datagh@peoplepc.com; mcn111@juno.com.

Abstract

Under US laws, securitization is illegal, primarily because its fraudulent and causes specific violations of RICO, usury, and antitrust laws.  Securitization of many types of assets (loans, credit cards, auto receivables, intellectual property, etc.) has become more prevalent, particularly for financially distressed companies and companies with low or mid-tier credit ratings.  This article focuses on securitization as it pertains to asset-backed securities and mortgage-backed securities, and analyzes critical legal and corporate governance issues.

4closureFraud

SECURITIZATION IS ILLEGAL

Comments
5 Responses to “Securitization is Illegal”
  1. se7ensnakes says:

    The Govewrnment are the big banks…the big banks are the government. This means that they control the executive, judiciary, and legislative. These are owned and controlled by the big banks. They pick the political candidates for us by way of television, and then we go out and vote by selecting their candidates.

  2. Dear Smallz,

    Unfortunately, by virtue of having signed promissory note between 2001-2008 which was then sold up the befouled securitization river, I believe we are all “suckas”.

    See here for a schematic drawn by my friend Dan to help visualize how we’ve been had by a multitude of profit takers.

    http://www.foreclosurehamlet.org/forum/topics/mortgage-backed-security-one

    Defend your homes America!

    Defend your homes!

    http://www.ForeclosureHamlet.org

    • smallz says:

      Take no offense please! The “suckas” are the people who think the banks and courts are formatted to help them. I used to be one of them!

      Dr. Shirley Moore, who provided Dr. Fine with information to go forward with his revalatons about SBX-211 and corruption between County Supervisors and Superior Court Judges.

      Now if that was just Cali….

      This problem may be bigger than people really want to admit.

      At this point, its sorta hard to deny that this epidemic could be going on without court wide spread judicial corruption and colluson. There’s just now way.

      That last 60 min was a joke.

      I appriciate the work you do and have done, however, it ultimalty may show the instability of the entire model. Like the old timer Jordan Maxwell says, they call it court because its a racket.

  3. smallz says:

    This should be painfully obvious to the general public, but folks refuse to turn of the TeeVee and read for a change.

    Agents within Government Sponsored Enterprises ARE acting within collusive silence to pilfer the weath of the entire nation by means of fraudulently conveying ownership of property (Securities and Real Estate) that they CANNOT legally prove they own.

    California is probably the worst case scenario due to the misuse of the lower courts to facilitate foreclosures.

    What are the Lower Courts?

    The Lower courts are also known as “limited jurisdiction”.

    What does “limited jurisdiction” mean?

    In California Limited Jurisdiction presides over disputes of $25,000 or Less. Whereas “Unlimited Jurisdiction” courts preside over disputes of MORE than $25,000.

    Why is this important?

    Because Million of American’s who attempt to fight for their houses as homeowner’s/borrower’s have their legs cut out from underneath them due to the fact that the “Unlawful Detainer” exist in the realm of “limited jurisdiction” which prevents the court from hearing any “property title” disputes as they are most likely to be in excess of $25,000.

    This intentional misues of “limited Jurisdiction” via the “Unlawful Detainer” automatically renders a Homeowner as a “renter” and a “pretender lender” as a “Landlord” as UD (Unlawful Detainer) focus primarily on that issue.

    Adding insult to injury, the “securitization” process evicerates any form of chain of title which would provide benifits to fighting homeowners trying to defend their property.

    It’s all a hustle folk, just don’t get hustled.

    File Action in “Unlimited Jurisdiction” courts and make the “pretender lenders” prove they have the right to collect and foreclose or shut the fuck up and sit the fuck down.

    Don’t be a sucka.

    • Charlie says:

      Assuming all’s running along smoothly with current lender, what “steps” could be taken to make lender PROVE their claim against us..i.e. what docs should they be required to provide as evidence. This is a lender who “bought” our loan a few years ago,,and they’re located on the east coast, we’re in Calif..and they don’t originate loans here anymore.. Anyway I appreciate any help as to how to make lender prove we owe them a red cent.

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