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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (102401)	9/23/2009 2:13:09 AM
From: John Metcalf	1 Recommendation Read Replies (3) \| Respond to of 116555

"They may become VERY READY to play "Let's make a deal" with the borrowers." Yes, if they retain the mortgage to which they are a party. If they have sold the mortgage, they don't have legal standing to make a deal. The connection between mortgage and securitization needs to be established. At the end of the process, each security owner should end with a corresponding group of valid mortgage documents. But the incentive is for the security owner to find fault with the mortgage amounting to fraud, and seek to be made whole by the originating lender. So, Hawk, let's roll up our sleeves and put the coffee on. We've got 60,000,000 sets of these to go through!