Ah, So There Are No Notes? HSH Nordbank Sues Barclays Over Mortgage Backed Securities

The Market Ticker – Ah, So There Are No Notes?

Here we go….

In its complaint Monday, HSH Nordbank also alleged that all of the mortgages weren’t assigned to trusts backing the securities (as issued by Barclays) as promised. By not doing so, it hinders the ability of the trusts to foreclose on the mortgaged properties, according to the lawsuit.

Indeed, without such assignment of the mortgages into the trusts, these so-called ‘mortgage-backed securities’ were not actually backed by mortgages,” HSH Nordbank said. “Plaintiffs would not have purchased these certificates had they known they were not backed by collateral or the notes.”

Oh, you bought an empty box of chocolates?

Isn’t that special…. I think I’ve been talking about this for quite some time eh?

Now we’re actually seeing the lawsuits that I expected to eventually start showing up, show up.

Now about the rest of those so-called “MBS” that might not really have anything in them, and thus the purchaser literally give his money to the issuing bank for a worthless piece of paper…..

smiley

And don’t forget to contribute to Lisa Epstein’s campaign for Palm Beach County Clerk of Court here…

~

4closureFraud.org

Comments
5 Responses to “Ah, So There Are No Notes? HSH Nordbank Sues Barclays Over Mortgage Backed Securities”
  1. neidermeyer says:

    Has there been any news on the LPS V. AHMSI case out of Texas where AHMSI was claiming LPS forgeries were subpar and causing them to lose cases?

  2. Bobbi Swann says:

    I just love the WSJ……they want you to buy a subscription to the online mag and then you can read all their stoes! Like no other online magizine or news media is going to have the same stories as those reported in the WSJ…c’mon give me a break! You can’t read anymore of this story unless you PAY their dues…..what a sorry bunch of idiots!!! No matter, I’ll just wait till it hits Bloomberg or pops up on the internet at some other site! Aside from bashing the WSJ we already knew the notes were destroyed to facilitate the cover up…oh, but maybe some of you still had your blinders on then….

    Hey, did Obama sell his house yet?…the one with the satisfacton of the robo-signer on it? Wonder if this buyer knows the satisfaction is fraudulent? Just thinkin…..

    • BocaJane says:

      Hi Bobbi – actually there is a way around the WSJ paywall.

      Just google the actual title of the article, in this case:

      German Bank Sues Barclays Over Mortgage Securities

      when it comes up in the results, just click on the link – you will get the full article – VOILA! – Magic!

  3. PATRICK THE PATRIOT FARRELL says:

    As I have been saying [in court] for 5 years, this is huge! My single case was NOT put into one bogus MBS, and now we are seeing things happen.Next is the REMIC issue, which means the IRS can start kicking butts if it so chooses to do.All these banks are a fraud, pushing debt paper that has no debt attached.

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