“The most significant factor in the decline of the tradi- tional residential mortgage model has been the develop- ment and evolution of the secondary mortgage market. A secondary market is created when the initial lender sells the mortgage loan to outside investors. Doing so provides local lenders with greater liquidity, which facil- itates additional home buying, and also allows large outside investors to pool—and thus to minimize—the risk that any particular loan will go into default. Although the modern secondary mortgage market had its genesis in the creation of the Federal Housing Authority and associated government sponsored financing corporations such as Fannie Mae in the 1930s, it expanded dramatically in the 1980s with the advent of new types of mortgage backed securities for sale in the private equity markets.”

Do we have an admission here that NTMs exist? The current laws only address traditional mortgages. NTMs compared to traditional mortgages are Apples to Oranges, although they are both fruit they have different structures.

Clouded Titles Blog

BREAKING NEWS!  … Plus a little Op-Ed! 

This just in!

The audacity of the Connecticut State Legislature … creating legislation that structured a two-tiered fee system against MERSCORP Holdings, Inc. and its “baby bastard” MERS!

The Connecticut Supreme Court has just affirmed an appellate court’s ruling that MERSCORP and its illegitimate child are still required to pay higher recording fees because they call MERS a “nominee” for the lender!   Things just can’t seem to get any better since MERS and its parent (who seems to let the child bully anyone it wants to with its legal war chest) got their asses handed to them last December in Tennessee in the Ditto case.   Read the Connecticut Supreme Court’s Decision here: MERSCORP Holdings Inc. v Malloy et al_2016-sc19376. It’s in pdf format, so you’ll need Adobe Acrobat Reader to view it.

It is a bit disconcerting that the State of Connecticut’s legislature…

View original post 1,551 more words


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