tag:blogger.com,1999:blog-7806136543904112143.post8983836256021002996..comments2023-10-30T09:23:42.803-05:00Comments on Some Assembly Required: SAR #10081Charles Kingsley Michaelson, IIIhttp://www.blogger.com/profile/04364694465614330540noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7806136543904112143.post-86664392029912779812010-03-22T14:12:52.038-05:002010-03-22T14:12:52.038-05:00Starting Somewhere: The FHLB is suing ...
Here i...Starting Somewhere: The FHLB is suing ...<br /><br />Here is the question that has NEVER been answered. Where exactly is all the PAPER backing MBS and all these mortgages? <br /><br />I sometimes imagine it is in warehouses in NJ guarded by $10hr rent-a-cops. An enterprising person might want to get into those papers and start deepsixing, as in Monster Jingle Mail, as in no more mortgages. (If you work in one of these warehouses, you might start up a profitable second job contacting homeowners as you go through box by box. I'm sure someone in NJ must have seen the Sopranos.)<br /><br />Or the possibility exists on some of this PAPER that the Securities Engineers used houses multiple times and therefore there is no PAPER because that would be evidence of fraud. (Is it possible to run checks on MBS to see if they contain duplicate houses?)<br /><br />Or to increase profits, the PAPER was never stored at all or the storage bill was not paid and the PAPER evicted, booted out into the Dumpster.<br /><br />In any case, financial bloggers. where the hell is all the PAPER? How much of it actually exists? This seems a critical question which has never been even asked let alone answered.<br /><br />And, homedebtors, before foreclosure find out where is your PAPER. You might hit the Free House Jackpot. It may actually be possible that some of the shrewder RE Operators are actually buying or dealing in properties where they know for certain there is no PAPER.Anonymousnoreply@blogger.com