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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: ajtj99 who wrote (71449)	11/20/2007 1:28:09 PM
From: sea_biscuit	Read Replies (3) of 116555

NY Times had a story on this. It said : A spokesman for Deutsche Bank declined to comment on the ruling. But the inability of Deutsche Bank, as trustee for the pools, to produce proof of ownership at the time of the foreclosures will fuel borrowers’ concerns that they are being forced out of their homes by entities that may not even hold the underlying loans. “This is the miracle of not having securities mapped to the underlying loans,” said Josh Rosner, a specialist in mortgage securities at Graham-Fisher, an independent research firm in New York. “There is no industry repository for mortgage loans. I have heard of instances where the same loan is in two or three pools.” I am intrigued by the last sentence - what the hell does it mean??!! Is this a much much much much bigger mess than we think it is?

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