THANKS TO J in CO for all his input, research, and hard work!
Edward Lynch & Foreclosure
Sir, you are definitely NOT a DEADBEAT!
We understand the stigma that was thrusted upon you for being in foreclosure.
You, along with all of South Florida, your country, have been Duped…
As we are starting to learn by the exposure of sunlight to the underbelly of the financial market, the Wall Street tycoons and investment bankers made hay while the sun was shining and regulation was a thing of the distant past. The major casino game as contemplated was just as the deregulation lobbying began and culminated in 1999 with the passing of the Financial Services Modernization Act of 1999 effectively letting banks into the lobby of the casino.
In the fractional reserve system created in the early days of the 20th century, the bankers no longer had to rely on maintaining the corresponding amount of gold in exchange for the notes(receipts) they issued. This led to the expansion of money beyond those things that backed such receipts, leverage at its best. This very expansion and the leverage that ensued created the Great Depression as people learned that they could expand their lives beyond their means and were taught how this could happen by the bankers of the day. Such activity was then controlled by the Glass Steagall act that effectively separated banks from risky investment firms. We should have learned from history but because we did not we were doomed to repeat it.
The banks were completely aware of the inner workings of the monetary system and knew specifically how to exploit it for a profit. Thus the creation of securitization and the expansion that came with it. The addition of risky gambling bets on the failure of certain financial instruments led to the Credit Default Swap and Derivative market. Such bets could effectively produce excessive profit upon the failure of any instrument that was available and was not limited to end user utilization but rather anyone could bet against a financial product even if they held no ownership.
This is where the already flawed system went down the path of imminent destruction as in order to create such returns and guarantee their bets would pay off the various players worked together to create flawed financial instruments that they knew would fail. In walks the scared masses after the 9/11 attacks and as a comfort and act of patriotism they were told not to be afraid and to go out and SPEND! This is the greatest thing you can do for your country. This call to action was followed by the sudden availability of the easiest access to money ever known in this system or any other.
Now that borrowers could gain access to funding at cheap rates and without the need for downpayments, the world was a rosy place. The expansion of the fractional reserve system was on and growing at an astounding rate with no regulation because it was the American Way. This led to years of rampant speculation and the inflated values that exceeded 100% growth in a matter of a year or a few years. With the addition of the Home Depot society and the keep up with the Jones’ attitude created by the system we failed to see that history was quickly repeating itself and in a much faster and compounded way.
In less than a decade we went from a government surplus to the largest deficit on record and the global financial system now exceeds any and all assets of the planet to match the fractional reserve of 10 to one or 100 to one. Money on paper has no value if not backed by something tangible as our system has been corrupted all the the way through. This leads me to the case in point.
The lenders created 2/28 ARMs such as the one from New Century. Such loans were created to gain investment money from the terms of the adjustments in accounting tricks that violate GAAP (Generally Acceptable Accounting Principles) to gain such investors. At the same time they are pledging the high rate adjustments their brokers (who incidentally are making excessive fees that are not disclosed) are selling the fact that you can refinance the toxic adjustment at a later date which once the system fails led to imminent foreclosure. This loan is that very product that they planned to fail. The adjustments are unconscionable and this led to a good bet on the failure, almost a guarantee for the CDS or Derivative contracts.
So I ask you Mr. Lynch, Do you like the fact that they set YOU up for failure, on purpose?
Would that be something worthy to investigate Mr. Lynch?
The other aspect of this is highly glossed over is the involvement of government bailout money being used to prop up the scam. Disclosed below is a page, page 106, from the recently exposed info on the Maiden Lane deal that effectively was perpetrated by the NY Fed along with their co-conspirator JP Morgan Chase. You can see below, in the Maiden Lane Documents, that YOUR specific loan pool (securitization of your loan with many others) was involved in a Credit Default Swap. This PROVES that such activity was present IN YOUR TOXIC MORTGAGE and that they bet on you….
They bet on you to fail!
Now OUR tax money is placed into this as a surety and guarantee for JP Morgan to own and play with. JP Morgan was additionally given Billions of loans to collect knowing that they have been paid off already many times by the CDS insurance but we can’t prove it because they refuse to give us transparency into their scam. This is the fun part.
We as guarantors of this nightmare also are allegedly going to Profit once YOU fail in your mortgage. We the taxpayers are supposed to profit or get our money back when they steal your home. The swaps have actually paid your loan off by now a few times over but since the sanctity of contract is so important irregardless of the proof of economic damage to those that don’t get paid (which is covered as a right under Article III Section 2 of the Constitution) you still lose your home and that which you have worked so hard for over the last decade.
YOU, like us, were set up by the banksters to fail so that they could steal the money from not only you but also from the investors while they ran away with the money. The law makers have allowed them to create the loopholes to do this. You now want to be one of those very lawmakers….
What do you plan to do with your time in office once you get there?
We hope this give you something to work out…
KNOWN FACTS
1. Case filed March 30, 2010 and NOT VERIFIED even AFTER the Florida Supreme Court ORDERED ALL mortgage foreclosure complaints to be VERIFIED before filing.
2. Deutsche Bank National Trust Company As Trustee for Carrington Mortgage Loan Trust, Series 2005-NC3 Asset Backed Pass-Through Certificates
3. Execution and Delivery of Note & Mortgage: One April 22, 2005, Def. Jennifer Lynch executed and delivered a promissory note and defendants Edward and Jennifer Lynch executed and delivered a mortgage securing payment of the same to NEW CENTURY MORTGAGE CORPORATION, which mortgage was recorded in Official Records Book 18589 Page 1886, of the public records of Palm Beach County, Florida, and which mortgaged the property. The property was then owned by and in possession of the mortgagor.
4. Details of the note: 7% for 2 years then beginning May 2007 and every 6 months thereafter adjustable rate of 5% plus current index (LIBOR six month index) rounded up but never greater than 14% NOTE IS TO NEW CENTURY. copy shows no endorsement and no allonge.
5. Stopped paying after May 2009 payment
6. Foreclosure Action brought by Smith Hiatt & Diaz, P.A. “Attorneys for the Plaintiff” Patrice A. Tedescko.
7. A creation of CITI in that they were the depositor. Deutsche as trustee has probably given POA to CITI to bring the action which is trap number 1.
8. Here is the Prospectus on the trust. http://www.secinfo.com/dr66r.z11c.htm#1stPage
9. Here’s the Pooling and Servicing agreement on the trust: http://tinyurl.com/EdLynchPoolingServicing
10. Complaint does not have a lost note count, only count I for Mortgage Foreclosure.
INVESTIGATIVE DIRECTIONS TO SEE HOW YOU WERE DUPED AND ARE BEING SUED FOR A DEBT THAT HAS ALREADY BEEN PAID
1. The involvement of Bear Stearns, part of the Maiden Lane holdings which can be trust assets or Credit Default Swaps that bet against YOUR loan performing.
2. Page 106 shows the Carrington CDS swap as a 6.25 Billion loss for the 05NC-3 trust which is YOUR very deal Mr Lynch.
This proves YOUR loan is part of the Maiden Lane holdings and should give YOU something to want to uncover as YOUR loan was part of the tax payer bailout of Bear Stearns.
3. This loan is part of a Swap that was included in the Bear Stearns Maiden Lane holdings that were released after the Bloomberg lawsuit made them do it.
4. This pool took a 6.25 million dollar loss and was covered by Tax payer money and bailout.
So Ed, are you angry yet?
They bet on you to fail!
Join us in our quest to right the wrongs that have been perpetrated on millions of Americans.
We, together can change the world…
Look forward to your response…
Edward Lynch Maiden Lane Holdings page 106
Oh and BTW, You should check out our latest “event”
Click through to view the video
4closureFraud
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How did you all find this persons loan…was it because it was in foreclosure and the trust was identified? People with Fannie Mae backed MBS can not get any information like this… or perhaps we are looking in the wrong place. Any advice would be appreciated.
And also great job done by all at The Rally in Tally…clear, concise and articulate, kudos’ to all of you great Americans…
[…] FINAL UPDATE: Edward Lynch, Florida D-19 Open Letter to Sen Edward Lynch, Florida D-19, We Understand – You are NOT a Deadbeat because YOU … […]