The FED can do what? LEGALLY COMMIT FRAUD YOU SAY? How can RESIDENTIAL MORTGAGES be used as COLLATERAL WHEN THEY ARE NEVER SECURITIZED? Did they not know the debt was NEVER SECURITIZED, THE DEAL WAS NEVER SEALED? What collateral files do you mean? Do you mean the FED never,ever checked to see if the banks ever did their due dilligence and secured the debt properly?You are saying the FED assumed the banks were dotting all of the i’s and crossing all of the t’s in securing the debt pool? Do you mean the banksters needed to use our paid off properties as collateral to commit fraud via the FED? A mortgage note is a collaterized pile of nothing unless it is tied to a deed. A mortgage note just states a debt is owed, the securitization process (assigning the mortgage to a deed) would have made their fraud quasi-legal (they still over-speculated the market knowing full well the bubble would burst, ponzi scheme=fiancial disaster of epic proportions) but they never securitized the debt (assigned a mortgage to a deed) so we do not owe this debt and no one can prove it except the holder of the paid off deed which is us. Did they gamble on the country as a whole or use us as individuals suckers? None the less, ‘THEY’ made gagillions of dollars off of our paid off properties via phony “MBS” and Credit Default Swaps and any other way they could slice it and dice it and make money off of it, and so did all of the foreign investors, now they want our houses too? They are ALL A BUNCH OF GREEDY PIGS. Our Government sold out all of OUR LAND to the foreign interest if we default and get foreclosed on the foreigners get our houses and our land. Well I guess this explains why and how Timothy Geithner has the balls to say fraudclosures need to happen or the housing market will “collapse fueher, I mean further”. So you say the FED helped the banksters to perpetuate all of the fraud or this is only considered fraud if WE DO IT? Our homes were the” vehicles” they used to commit fraud with, not the “collateral”. Now that begins to explain WHY THERE STILL IS NOT A NATIONWIDE MORATORIUM ON FRAUDCLOSURES. The whole cabal will be implicating themselves. Too bad that they can not hide it because the people know the truth about all of ‘THEIR’ fraud. FKA many banks by many other names now AKA FRAUDCLOSUREGATE. A criminal enterprise of unimaginable proportions.

Certain PREDATORY mortgage loans were issued for the very purpose of loan default so that properties can become flipped, repeatedly (hence blight); lenders gain tax credits, mortgage-default insurance, and more. Additionally, too often, not only has the lender NOT filed foreclosure, certain homes wound up being flipped by the foreclosure mill lawyers who execute simulated auctions whereby “straw buyers” fraudulently “credit bid”! Also, illegal, fraudulent foreclosure causes useless deeds for property sales; title insurance denials, etc.

It is outrageously unfair when families become homeless because of fraudulent foreclosure proceedings filed by lawyers in civil and in bankruptcy courts!!! Scores of homeowners do not contest foreclosures because they have no legal knowledge to recognize challengeable foreclosures or fraud; no means to pay for attorney representation; they are told to come to foreclosure auctions with money they do not have, so they stay away from foreclosure auctions.

White collar foreclosure fraud entails intentionally fraudulent foreclosures naming defunct mortgage companies, or having no ownership of notes; unfair fees beyond “Acceleration Clauses” that impairs borrowers’ ability to repay arrears; falsified Bankruptcy Court motions to “Lift Stay” for accomplishing”simulated” foreclosure auctions via “straw buyers.”And lawsuits against foreclosure lawyers for fraud and “Unfair Debt Collection Practices,” generates more lawyer fees.

Foreclosure lawyers are court officers, and required to know laws and civil procedure –lenders and servicers AREN’T. Lawyers are the ones who file lawsuits to seize and sell property; and they file and record property deeds after auctions. *Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers @ http://www.change.org/petitions/view/request_for_congressional_foreclosure_panel_to_examine_foreclosure_lawyers#

I’ve been saying this for awhile. It explicitly says the FED can use residential mortgages as collateral to PRINT NEW NOTES. Why would the law say that it is allowed and they wouldn’t do it? I don’t think Congress is up there passing moot laws.