https://4closurefraud.org/2010/01/30/does-asset-backed-securitization-mean-no-note/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Fri, 29 Apr 2011 03:32:26 +0000 hourly 1 https://wordpress.org/?v=7.0 https://4closurefraud.org/2010/01/30/does-asset-backed-securitization-mean-no-note/#comment-29877 Fri, 29 Apr 2011 03:32:26 +0000 https://4closurefraud.org/?p=1445#comment-29877 has a court case on that a note is no more when it goes to a REMI (spv)

]]> https://4closurefraud.org/2010/01/30/does-asset-backed-securitization-mean-no-note/#comment-369 Tue, 02 Feb 2010 17:00:02 +0000 https://4closurefraud.org/?p=1445#comment-369 Documentary Clearing House, LLC., publisher of “cancelthe mortgagenow.com” takes a similar position. DCH argues that the note is valid but securitization eliminates the status of note holder. Once a securitization takes place, there is no party left standing with the legal authority to enforce the mortgage note.
regarding the certificate holders, they are investors with a payment contract. The certificate holders do not hold an undivided, fractional interest in a mortgage note. When a securitization takes effect, it is as if the trustee bought 2,000-5,000 head of cattle (mortgages) but sold hamburgers(investment certificates) to investors. The investors own the hamburgers but have no fractional, undivided interest in the cattle.

]]>