Behind the Securitization Curtain – 21st Century Mortgage Casino

This is worth reviewing again.

Deadly Clear

The turn of the century mortgage lending fiasco was built like a 21st Century casino.
The entire scheme started with the homeowner who wanted to buy a home or refinance at unbelievable interest rates… too good to be true… and they were!

It all started with a loan application called a “1003.”  EVERY lender in the scheme used the same loan application software.  In fact, Fannie Mae patented the sucker. Inside this specific patent are numerous patents related to and referenced that make up the beloved 1003 loan application. These patents are listed on line in the USPTO.

One of the reference patents is a gem called the “Online system for fulfiling loan applications from loan originators” and it describes how technological methodology is integrated into the mortgage lending process.  

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2 thoughts on “Behind the Securitization Curtain – 21st Century Mortgage Casino

  1. Pingback: Randomly Distributed Trial Court Justice: A Case Study and Siren from the Consumer Bankruptcy World | Deadly Clear

  2. Pingback: Paul Krugman Propaganda Fully Exposed and Debunked | Deadly Clear

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