The loans are pooled and lost forever to the seller.The pool represents a certain high balance asset valued a multiple of annual revenue and paid on a 30 day cycle.

Vast consumer payments are collected by a servicer and one single payment is forwarded to the investment Trust owned by a ReMIC or REIT.

The ownership is disguised to shelter it from being identified. It was an FDIC member (FSB) under the OTS The investment registrants capitalized these investment’s with tax payer deposits.

Each loan is pooled and thereafter lost or no longer recognized by the master servicer. Therefore the misnomer is that each loan passes through to a designated investor.

The lender is the seller and depositor who uses its collateral to raise valuable capital and multiple not available from a retail or even whole sale member bank deposit base.

The lender pays a monthly dividend that lives and dies by the loans they come to rely on. The payment is really just a dividend to the investors.

What gets delivered into a trust as a borrower loan can only come out as a demand for payoff or by going to term. It is otherwise liquidated within the trust structure. Your loan cannot be unraveled from a delivery into a trust.

Unraveling a trust asset requires compensating balances as in “demand for pay off and boarding a loan that mirrors the early prepayment.

To accomplish compensating balances necessary to repurchase and foreclose are near impossible and violates any economic logic.

There cannot not be a foreclosure and that is verifiable from
1) basis accounting (accrued cost) in assets
2) compensating balances for purposes of consideration
3) charges and pay downs from, over-collateralization, recourse and insurance
4) the deed or mortgage is verifiable as lost to the trust and registrants where the note stands as a moral obligation.
5) You cannot originate, deliver and micoro mange assts in a trust without violating FAS 140 and other critical accounting violations.

There is no middle ground or in between to compromise for short sales, modifications negotiated settlements and so forth.

MAHER SOLIMAN
expert.witness@live.com
Expert.Witness@live.com
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