PONZI | MORTGAGE-BACKED TRUSTS – RUNNING ON EMPTY?

MORTGAGE-BACKED TRUSTS – RUNNING ON EMPTY?

By Lisa Epstein and Lynn E. Szymoniak, Esq.

December 6, 2011

What is left in residential mortgage-backed trusts? Investors, everyone with a pension invested in mortgage-backed trusts, residents of cities and counties invested in mortgage-backed trusts and economy watchers in general are asking the question: what is left in the mortgage-backed trusts after four foreclosure-packed years?

The data below provides some basic information on three very popular series of trusts: American Home Mortgage Assets Trusts, American Home Mortgage Investment Trusts and Soundview Home Loan “OPT” Trusts. These trusts were created from 2004 to 2007.

The combined collateral value of the loans in these trusts at inception was over $61 Billion: $61,441,128,225.
There were 228,203 loans in these 37 trusts at inception. As of November, 2011, there were 51,798 (22.7%) performing loans in these trusts.

Data from 37 of these trusts is reported below. Most of these trusts have relatively few performing loans left to produce revenues, particularly after payments are made to mortgage servicing companies and law firms representing the trusts. Counterclaims are also appearing more regularly in foreclosure cases.

Of the 37 trusts, 18 had 25% or less of performing loans remaining.

Of the 37 trusts, 8 had 26% – 30% of performing loans remaining.

Of the 37 trusts, 11 had 31% – 38% of performing loans remaining.

Of the 37 trusts, Soundview Home Loan Trust 2007-OPT5 had the highest percentage of performing loans remaining in the trust: 38%.

American Home Mortgage Assets Trust 2005-2 had the lowest percentage of performing loans remaining in the trust: 10.5%. The data was taken from the investor reports for each trust.

AMERICAN HOME MORTGAGE ASSETS TRUSTS & TRUSTEES

AHM Assets Trust, 2005-1 (Deutsche)
Original # loans: 2,166
Original Collateral Value: $797,994,862
Loans Remaining: 323
Non-performing loans remaining: 81
Performing loans remaining: 242 – 11% of original

AHM Assets Trust, 2005-2 (Deutsche)
Original # loans: 1,467
Original Collateral Value: $563,424,121
Loans Remaining: 195
Non-performing loans remaining: 41
Performing loans remaining: 154 – 10.5% of original

AHM Assets Trust, 2006-1 (Deutsche)
Original # loans: 2,889
Original Collateral Value: $1,126,157,063
Loans Remaining: 1,037
Non-performing loans remaining: 345
Performing loans remaining: 692 – 24% of original

AHM Assets Trust, 2006-2 (Deutsche)
Original # loans: 3,022
Original Collateral Value: $1,206,537,988
Loans Remaining: 1,117
Non-performing: 359
Performing: 758 – 25% of original

AHM Assets Trust, 2006-3 (Citibank)
Original # loans: 4,376
Original Collateral Value: $1,690,839,857
Loans Remaining: 1,903
Non-performing: 684
Performing: 1,219 – 28% of original

AHM Assets Trust, 2006-4 (Citibank)
Original # loans: 3,966
Original Collateral Value: $1,514,539,849
Loans Remaining: 1,720
Non-performing: 293
Performing: 1,427 – 36% of original

AHM Assets Trust, 2006-5 (Deutsche)
Original # loans: 3,950
Original Collateral Value: $1,528,015,387
Loans Remaining: 1,728
Non-performing: 562
Performing: 1,166 – 30% of original

AHM Assets Trust, 2007-1 (Deutsche)
Original # loans: 3,831
Original Collateral Value: $1,505,808,822
Loans Remaining: 1,782
Non-performing: 612
Performing: 1,170 – 31% of original

AHM Assets Trust, 2007-2 (Deutsche)
Original # loans: 4,561
Original Collateral Value: $1,742,877,753
Loans Remaining: 2,192
Non-performing: 781
Performing: 1,411 – 31% of original

AHM Assets Trust, 2007-3 (Deutsche)
Original # loans: 6,291
Original Collateral Value: $1,225,384,098
Loans Remaining: 2,469
Non-performing: 940
Performing: 1,529 – 24% of original

AHM Assets Trust, 2007-4 (Deutsche)
Original # loans: 979
Original Collateral Value: $362,979,774
Loans Remaining: 522
Non-performing: 187
Performing: 335 – 34% of original

AHM Assets Trust, 2007-5 (Deutsche)
Original # loans: 2,212
Original Collateral Value: $776,597,903
Loans Remaining: 1,240
Non-performing: 416
Performing: 824 – 37% of original

AMERICAN HOME MORTG. INVESTMENT TRUSTS & TRUSTEES

AHM Investment Trust, 2004-1 (Wells Fargo)
Original # loans: 2,298
Original Collateral Value: $612,421,500
Loans Remaining: 198
Non-performing: 28
Performing: 170 – 14% of original

AHM Investment Trust, 2004-2 (Wells Fargo)
Original # loans: 5,123
Original Collateral Value: $1,394,859,289
Loans Remaining: 753
Non-performing: 108
Performing: 645 – 13% of original

AHM Investment Trust, 2004-3 (Citibank)
Original # loans: 3,966
Original Collateral Value: $2,337,611,000
Loans Remaining: 1,720
Non-performing: 592
Performing: 1,128 – 28% of original

AHM Investment Trust, 2005-1 (Deutsche)
Original # loans: 17,570
Original Collateral Value: $3,841,545,000
Loans Remaining: 4,306
Non-performing: 741
Performing: 3,565 – 20% of original

AHM Investment Trust, 2005-2 (Deutsche)
Original # loans: 25,934
Original Collateral Value: $5,778,151,000
Loans Remaining: 7,453
Non-performing: 1,319
Performing: 6,134 – 24% of original

AHM Investment Trust, 2005-3 (Deutsche)
Original # loans: 2,621
Original Collateral Value: $736,973,839
Loans Remaining: 863
Non-performing: 181
Performing: 682 – 26% of original

AHM Investment Trust, 2005-4 (U.S. Bank)
Original # loans: 10,708
Original Collateral Value: $2,648,516,000
Loans Remaining: 3,211
Non-performing: 735
Performing: 2,476 – 23% of original

AHM Investment Trust, 2006-1 (Deutsche)
Original # loans: 5,200
Original Collateral Value: $1,973,444,339
Loans Remaining: 1,766
Non-performing: 548
Performing: 1,218 – 23% of original

AHM Investment Trust, 2006-2 (Deutsche)
Original # loans: 6,589
Original Collateral Value: $965,174,822
Loans Remaining: 1,652
Non-performing: 323
Performing: 1,329 – 20% of original

AHM Investment Trust, 2006-3 (Deutsche)
Original # loans: 7,182
Original Collateral Value: $1,739,486,065
Loans Remaining: 2,800
Non-performing: 723
Performing: 2,077 – 29% of original

AHM Investment Trust, 2007-1 (Deutsche)
Original # loans: 5,336
Original Collateral Value: $3,727,138,479
Loans Remaining: 2,679
Non-performing: 1,008
Performing: 1,671 – 31% of original

AHM Investment Trust, 2007-2 (Deutsche)
Original # loans: 5,944
Original Collateral Value: $1,102,255,344
Loans Remaining: 2,281
Non-performing: 554
Performing: 1,727 – 20% of original

SOUNDVIEW HOME LOAN “OPT” TRUSTS & TRUSTEES

Soundview Home Loan Trust, 2005-OPT1 (Deutsche)
Original # loans: 8,036
Original Collateral Value: $ 1,500,000,000
Loans Remaining: 1,329
Non-performing: 462
Performing: 867 – 17% of original

Soundview Home Loan Trust, 2005-OPT2 (Deutsche)
Original # loans: 5,535
Original Collateral Value: $1,035,488,782
Loans Remaining: 1,106
Non-performing: 381
Performing: 725 – 20% of original

Soundview Home Loan Trust, 2005-OPT3 (Deutsche)
Original # loans: 7,722
Original Collateral Value: $1,545,654,056
Loans Remaining: 2,078
Non-performing: 680
Performing: 1,398 – 27% of original

Soundview Home Loan Trust, 2005-OPT4 (Deutsche)
Original # loans: 8,095
Original Collateral Value: $1,559,051,934
Loans Remaining: 2,066
Non-performing: 673
Performing: 1,393 – 26% of original

Soundview Home Loan Trust, 2006-OPT2 (Deutsche)
Original # loans: 8,050
Original Collateral Value: $1,600,000,003
Loans Remaining: 2,011
Non-performing: 773
Performing: 1,238 – 25% of original

Soundview Home Loan Trust, 2006-OPT3 (Deutsche)
Original # loans: 10,365
Original Collateral Value: 2,000,000,025
Loans Remaining: 2,756
Non-performing: 1051
Performing: 1,705 – 27% of original

Soundview Home Loan Trust, 2006-OPT4 (Deutsche)
Original # loans: 5,459
Original Collateral Value: $1,000,000,031
Loans Remaining: 1,548
Non-performing: 615
Performing: 933 – 17% of original

Soundview Home Loan Trust, 2006-OPT5 (Deutsche)
Original # loans: 15,846
Original Collateral Value: $3,099,999,734
Loans Remaining: 4,650
Non-performing: 1,849
Performing: 2,801 – 18% of original

Soundview Home Loan Trust, 2007-OPT1 (Wells Fargo)
Original # loans: 10,818
Original Collateral Value: 4,554,183,205
Loans Remaining: 5,338
Non-performing: 1,959
Performing: 3,379 – 31% of original

Soundview Home Loan Trust, 2007-OPT2 (Wells Fargo)
Original # loans: 2,200
Original Collateral Value: $562,080,116
Loans Remaining: 1,226
Non-performing: 465
Performing: 761 – 34.5% of original

Soundview Home Loan Trust, 2007-OPT3 (Wells Fargo)
Original # loans: 2,155
Original Collateral Value: 565,259,216
Loans Remaining: 1,187
Non-performing: 445
Performing: 742 – 34% of original

Soundview Home Loan Trust, 2007-OPT4 (Wells Fargo)
Original # loans: 1,826
Original Collateral Value: 495,100,045
Loans Remaining: 1,053
Non-performing: 419
Performing: 634 – 35% of original

Soundview Home Loan Trust, 2007-OPT5 (Wells Fargo)
Original # loans: 3,915
Original Collateral Value: $1,025,576,924
Loans Remaining: 2,345
Non-performing: 872
Performing: 1,473 – 38% of original

~

4closureFraud.org

Comments
10 Responses to “PONZI | MORTGAGE-BACKED TRUSTS – RUNNING ON EMPTY?”
  1. People of America , wake up and smell the coffee! We have all been scammed! If your loan has been securitized its been paid for by a third party whom has no interest in the loan now. Your loan has been converted in a security.
    Find out if your loan has been securitized. Scott Pelley of 60 minutes could not have said it better on mortgage fraud April 3rd 2011. People its up too you to find out for yourself s. Do you owe it?

  2. lvent says:

    Expect more secret FED bailouts and more theft of the American peoples homes and wealth….they will steal until the American People are BANKRUPT…and declare we are all renters of our homes now because the fraud is just to massive…!!! DO NOT CONFORM AND COMPLY….!!!! THEY ARE STEALING OUR COUNTRY TO PAY FOR THE GSE’S AND WALL STREETS UNSUSTAINABLE DEBT….THEY COMMITTED.$700 TRILLION IN MORTGAGE COLLATERAL FRAUD….IT CAN NEVER BE PAID BACK..THE BIG LIE THEY ARE USING TO BANKRUPT US IS WE THE PEOPLE DID THIS!!! BIG LIES!!! DON’T SIGN OR AGREE TO ANYTHING…..!!! FIGHT THAT FRAUDCLOSURE PEOPLE!!!!!

    • lvent says:

      I was in court last week fighting my fraudclosure…I told the attorney in the hallway after court, ..”I want to see some Discovery…the PSA agreement, the assignments…I want proof of when the loan was delivered to the trust and so on”…..He told me”there is NO TRUST…THE LOAN WAS NEVER DELIVERED TO A TRUST…THERE IS NO PSA AGREEMENT AND THERE ARE NO ASSIGNMENTS….” I told him..”.Well than this is an UNSECURED DEBT…YOU ARE NO MORE THAN A THIRD PARTY DEBT COLLECTOR”…He said, ” I did not say that”….
      .WELL THE NOTE IS UNENDORSED….!!! SO HE ADMITTED TO THE MASSIVE FRAUD THAT WAS COMMITTED IN MY NAME……..!! THE NOTE WAS SOLD ON WALL STREET…AND IT WAS NEVER DELIVERED TO THE TRUST…THAT IS SECURTIES FRAUD…….. COUNT ONE…..!!!

  3. Kathleen Burt says:

    Excellent research, thanks! What you found on Deutsche Bank –wow!

    Just finished Michael Lewis’ trerrific book, Boomerang, on the securitzation fiasco in Europe, he has different chapters on 5 countries–a quick and fascinating read. The German chapter covers Deutsche bank–how happy they were with what they bought, all those “safeguards,” the high Moody’s rating, the Fed and the SEC standing behind the mortgage securities,, “what could possibly go wrong? Europe doesn’t have protection like that!” Right.

    Interested in knowing about the solvency of NY Mellon Bank ( Wall Steet Trust) that has my note….?

    Noted that Bernacke, in the last press conference, was asked what the Fed is buying; he said, Mortgage backed securities.” Trying to shore them up, no doubt.

    Bet the Europeans wish we’d never dropped Glass-Steagall.

  4. Pat says:

    The questions that need to be confirmed are as follows: is it true, that when a loan defaults that is in a securitized trust, that built in the pooling and servicing agreement is insurance that pays the trust for their losses from a defaulted mortgage? Is it also true that the entity servicing the loan has the right to buy said mortgage (which is now unsecured) for pennies to the dollar in order to foreclose on the property held as collateral, even though the Note has been separated from the Deed/Mortgage. If this is true, the Note has been paid thus the servicing entity sells the property for a profit plus gets to keep all the fees collected throughout the foreclosure process? Is this true?

  5. qwester says:

    how can I discover the same for bear stearns abs I LLC 2004-FR3? CAN I DISCOVER IF MY MORTGAGE AND NOTE ARE IN THIS TRUST?

  6. Ali says:

    I just heard on Fox news that BOA just made a gigantic settlement with investors!!!!!! Sounds like the little people are taking it in the you know what AGAIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Kathleen Burt says:

      BoA–will it survive? The shares were around $5 apiece when Buffet bought his. To him it was probably like buying a stack of lottery tickets–h paid his money and took his chances. Looks like their investors are in trouble..

  7. Art says:

    The big banks have all been bailed out and paid off for these so-called bankruptcy remote trusts by the not “federal” no “reserve”s scam “system”. Then they usually collected on more than one credit default swap or credit insurance policy, thus having been paid in full at least twice on “money” that was made up out of thin air in the first place. So why do our mortgage balances still exist ?

  8. Ron Moss says:

    You two have restored my faith in human beings Lisa you are tops in your dependability measure. Now I know Ron Paul will be elected next. He understands the federal reserve. Along with Michelle Bachmann, Both will fire Ben Bernanke and know the reasons why. Thanks again.

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