It’s 2024 and already, people in the left-wing media are attempting to fear monger We the People with all sorts of diatribe involving some new COVID variant or an alleged Black Swan event, slated to happen right before this year’s elections.
Already, Trump was removed from the ballot unilaterally in Maine, while Colorado took temporary action to halt that state’s Supreme Court rulings to keep Trump off the ballot, still, the U.S. Supremes should not disappoint. We can’t just hang our hat on one law (Art. 14, Sec. 3) rather than what really matters (Art. 14 Sec. 5) within the Constitution now can we?
We have bigger fish to fry in our own back yards, don’t we?
There’s no doubt in my mind that if Trump doesn’t get re-elected that America will be facing (literally) four more years of hell on earth. Not the greatest New Year’s forecast, eh? What I don’t agree with is the Hegelian Dialectic that has been (and continues to be) played on We the People.
So, if I can keep this short and sweet … let this New Year be the year of success for each of you that read this post, to your endeavors to reach out to your immediate community and make a difference, as small as it may seem. Take care of family matters, especially when it comes to preparedness for the future.
It’s no secret that foreclosures are on the rise again. True, not as bad as post-2008; however, there are over 1.3-million shadow inventories that still plague our current housing market and cannot be sold because of excessive economic depletion (too old and need to be razed) or because the chain of title is so jacked up no reasonable investor would buy the property. The number of 90-day delinquencies in mortgage payments is on the rise, which means if the loan was securitized, the servicer and all the parties involved in the transaction are cashing in on credit default swaps, PMI and/or LPMI, default insurance and title insurance (Day 91). They’re making a killing and they’ve got every homeowner convinced that they owe money to some “lender” and because they haven’t paid, the mortgage-backed security wants its property back.
The entire scenario has been played out to the point that judges go right along with the scheme and know they’re going along with the scheme. Let’s play the reality out here shall we?
John and Jane Doe want to buy a home. They both work and have dutifully been paying $1800 a month rent for years without fail. Their credit scores are in the high 800’s. They own their cars outright and have minimal credit card debt. Their scenario sounds like the ultimate borrower for any lending institution, right?
Why do you think the term “table-funded lender” was coined?
Because the securitization gurus on Wall Street who created the mortgage-backed securities (another fictitious name for a “security”) required the originating broker (the “lender” shown on the mortgage or deed of trust) took John and Jane Doe’s credit application, credit history (and pulled their credit report with that) and all of their financial information and created a bond with it using the MERS System® (in most instances). The bond was already being traded on Wall Street BEFORE John and Jane Doe even signed any papers at the closing table.
The mortgage loan broker wanted 20% down payment as part of the deal. Let’s say John and Jane Doe’s purchased that home (under contract) for $200,000. 20% of that would be $40,000, right? At closing, where do you think those funds went?
To pay off the lender’s 5% “skin in the game” and reward the servicer and all of the players in the scheme with cash. But … the parties in the game didn’t bother to tell John and Jane Doe that their credit scores and history were converted into a security BEFORE the fact. They hadn’t been officially “approved” yet but their credit was so good, a bond was created and the investors of the mortgage-backed security thought that they were investing in John and Jane Doe’s future home and that if John and Jane Doe failed to pay, the home would be sold and they would be handsomely rewarded for their investment.
If you thought that the caper involving Wall Street magnate Bernie Madoff was a big deal, you ain’t seen nothing yet!
The entire mortgage-backed security industry lied to investors (via the Prospectus) and lied to the John and Jane Does of America, who thought they were the “borrowers”. Wrong again!
The “borrower” in the scheme is the originating lender, who was paid in full at closing. The originating lender took John and Jane Doe’s credit scores and financial information and turned it into a security (fraudulent concealment) without even telling them they were going to do that when the Does turned in their loan application to the originating lender (the loan broker). The loan broker then pledged the Does information into the MERS System® and turned their paperwork into a mortgage-backed security and represented to the Does at closing that the Does were the “borrowers”, when in fact, they weren’t (fraudulent misrepresentation).
When the loan broker put the Does information into the database (MERS) and put their loan into a pool of loans (applications, etc.) and created a security out of that, the NOTE was cancelled. Did you get that? The law says it is. But … no one bothered to tell John and Jane Doe that. And here all this time, John and Jane Doe thought that THEY were the borrowers.
If John and Jane Doe work for 30 years to pay off their loan, look how much money the players in the Wall Street scheme make! Now multiply that sum by all of the supposed “borrowers” out there whose loans were similarly turned into a security. And now you know why there were so many loan officers and mortgage bankers on Wall Street throwing money away on booze, blow and hookers. All that money they were getting from down payments and future payments went right into the pockets of the servicers, who then kept paying the principal and interest to investors (until they no longer could because of the defaults).
Enter the adjustable-rate mortgage. Within 2 years, these loans would readjust and the borrowers would default. Then the foreclosures start. Lather, rinse, repeat.
If you want the down and dirty and what the law says, visit my Substack page at dave krieger.substack.com. My new book DOOMED TO REPEAT is now posted there!
Now that you have a smattering of the truth … you can understand why the fed is so interested in turning our money supply into CDBC’s. Happy New Year! 2024 is about to get rough.
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