We wrote them a check, the note was a check we gave to them….they got paid off of the backs of the U.S. TAXPAYER by the U.S. TREASURY….the FAKE LOAN ORIGINATOR was able to cash in the note at the U.S. TREAS… release funds to pay for the homes with our signatures, then, they were lent the credit in the form of a bond and a treasury and they were allowed to keep using the already cashed in note to sell pieces of as an interest in the money flow to investors…….. which was the fraudulently induced mortgage payment…The more loans they bundled, the more money they made esp the most risky loans they bundled up and had stamped AAA rated ..They never lent us any money or any credit.. WE THE PEOPLE LENT IT TO THEM……we got scammed….It was a mortagage fraud ponzi scheme with tax payer money..I watched a program on CNBC last nite entitle HO– USE OF CARDS..WALL STREET was selling interest to the money flow to anything that had a revenue stream…Our mortgage payments were a fake, fraudulently induced revenue stream….!.The fly by night “lenders” were doing refis…and Wall Street investment banks could not wait to buy up the worst loans to repackage as AAA CDO’s to sell interests in the money flow to investors……with their warehouse line of tax payer backed credit at the FED.. It was booming until the were overleveraged to the hilt… House of Cards interviewed a Wall Street exec who said that the end came right after 60% of the loans went pubic..When they tried to cover up for the fact the loans were never delivered to the trusts and tried to securitize the loans after the fact and they dumped them all into a global pool…a/k/a..the 1.2 Quadrillion dollar black hole of mbs’s…..my fraudulently induced mortgage went public in June 07….then they burst the bubble and then the defaults came enmasse…including mine…!

The abominable banking system that is in place today, gives a bank great incentive to foreclose on an Ultra Vires contract, as the bank demands lawful money returned for the unlawful money lent.

By what Authority are the Banks doing this? There is no authority for doing this. This is in complete prohibition to Art 1 Para 10 Cl1 of our US Constitution.

All of our cases with slightly different facts all stem from the same Fraud.
The Bank did not lend you ‘LAWFUL MONEY” but the Bank intentionally wrote
a “bad check” and gave it to you –to circulate as “money”

I certainly did not know this kind of fraud was going on when I signed my mortgage and note. Did you?

The Mortgagor puts up a down payment, the Mortgagor pays a lot of fees and probably paid an attorney to represent them, all in order to get this “bad check”

Would a Mortgagor have put in all that money, if one knew the truth of how the Banks ran their illegal business. I bet not.

Did anyone notify you after that big day – the Bank’s check bounced – of course not. When the check that the Bank wrote came back to the Bank that wrote it, the bank didn’t say “we only have 5% , if that much and it was not stamped “insufficient funds” the bank stamped it “paid”

So since the Bank did not have the money sitting in the bank’s account when they wrote the check, what the bank gave you is their credit.

That is exactly what is prohibited by Art. 1 Para 10 Cl 1 of the US Constitution.

What authority gives the Bank the right to make contracts with “bad checks”

Nothing- Nada.

“Lawful money” is needed to make a contract valid.

Over and Over Mortgagors gave a Bank a mortgage on their castle , in return for a Bank giving you a credit entry on their books and charging you Interest on this credit. Also illegal.

Did the Bank give you lawful money or is that what you got, credit?

Banks are not allowed to lend their credit- Banks are in the business to lend
“lawful money” There is not a Bank charter that allows a Bank to lend their credit.

And as we continued to make monthly payments the Bank collected more money on their fraud.

You try writing a check when you don’t have funds sitting in your account to cover it.
You can be sure that check is coming back marked”insufficient funds” You are not allowed to do it and either is a Bank.

This scam of Ultra Vire contracts caused injury to us, the true homeowners.

In addition the banks are laundering “bad checks”.

The Banks violate Truth in Lending Laws.

The Banks are collecting Interest on money that doesn’t exist. (Lending you 5% and collecting Interest on 95% of thin air)

And once the Bank gets their Ultra Vire contract going, they start flipping them to MERS, Securitizations , Wall Street, Title Companies etc. there is no shortage of people all wanting to get their piece of the illegal profits.

If you are involved in a loan modification, hopefully you first ask the question of the servicer,
are you authorized to make ANY changes to my loan? Next you had better have read ALL
of the very fine print to make sure you didn’t agree to sign away the rest of your life times’
assets including future revenue from retirements.

Bribes and payoffs …

A Wells Fargo & Co. executive has acknowledged that he verified only the dates on up to 150 foreclosure documents he signed daily.

http://online.wsj.com/article/SB10001424052748704380504575530693090385782.html

Since wells continues to say all is well