You all thought you were getting a mortgage loan from a bank. That was no true. You didn’t get a loan from anyone. Banks can not lend there own money. Its that law!. They pooled several loans together , totaled the principal, made an offer to sell the entire pool to investors (Wall Street) those investors pooled their money together and purchase the pool of loans (approx 1000-2000) …or more loans. This is called an offering which gives the buyer information on how much they would profit from holding the loans for 30 years and collecting the interest for the 30 years. Example: Total Loans Pooled 1000, total principal $1 trillion, total profits for 30 years $5 trillion. The investors were lead to believe the 1000 loans had qualifying buyers with A credit, therefore causing the investors to believe they would profit from purchasing those loans. Once the loans were sold off the bank promised to manage those loans and to collect monthly mortgage payments and in the event of default they promised to repurchase the loans back from the pool of loans and replace the defaulted loan with a good performing loan. This was fraud against the investors because they was not informed those buyers had bad credit and high risk of default. The banks also inflated the value of the loans by obtaining fraudulent appraisals.
Investors are now suing banks for securities fraud. The Securtities Exchange commission has sued banks for sec fraud. Home owners were not aware the loans were to be sold off to investors of Wall Street. That means the banks failed to disclose this to the borrowers. This is where the bubble burst. They gave home owners adjustable rate loans, interest only loans, etc., when the rates increased the mortgages became unaffordable. Foreclosures increased, values decreased, unemployment increased and the bubble went bust. The laws says once a loan is securitized the note and the mortgage became separated which makes these loans unsecured. Federal law says only the true owner of the loan who is in possession of the Note and the Deed can foreclose on real property which would be the “Real Party in Interest”. If they can’t prove they are a “Real Party in Interest”, federal laws says no foreclosure because you can’t take something that which you do not own. It is a well known fact banks do not own loans because they can’t fund money according to federal banking laws.
You can’t evict someone from property for which you do not own. You can’t have that person who lives in foreclosed property arrested.
Only person who can request an arrest for trespass is the Real Party in Interest and that would be Wall Street and the Home owner. In order to foreclose you must get consent from ALL Investors in writing and that is IMPOSSIBLE to do. These pools of loans could be owned by thousands of investors and of course they would be in the USA and other Countries. Which means all of them would have to sign one authorization form giving the bank consent to foreclose or to evict.