Another Post on Corrupt MLS Data - in Which the Entire Real Estate Industry and Secondary Loan Market is Built on

People with Great Credit and Good Jobs are walking away from their Homes. WHY? well because they know they will never Sell it for what the Fake Real Estate Market SOLD it to them for. So these folks are letting the banks take the property back and they are renting places for half the price.

The Real Estate Industry is Broken and the Banks are Rewarded for their part in the Collapse and NAR - well no one seems to get the IMPORTANT role that "Realtors" MLS Data Place in the financial market - the Real Estate Industry is the FOUNDATION of the Banks, the Economy... and Allowing Prices to Rise Just to Get Deals Closed is Fraud on the Real Estate Consumer - and yet the Consumers are the ONES Losing everything - NAR is business as usual and the Lending Industry has NO Accountability to the Real Estate Consumers Losing Everything.

HELLO why are No Fingers Pointed at NAR ?

There is No Governing Entity that can HOLD the National Association of Realtors accountable for the Lies they Tell. The MLS, the National Association of Realtors created the False Real Estate Market with Corrupt, Un-Regulated MLS Data, this Data was used by lenders to give loans for Way More then property was WORTH, the Lenders knew it was happening and turned a blind EYE - oh well they get a bail out - the PUBLIC - you.. the REAL Estate Consumer Who Did not KNOW - well you get to Keep them in Business.

STOP the MLS Cartel,
STOP NAR from the lies they tell and the lack of accountability for Good Data that YOUR financial industry is built on. STOP NAR from not holding Realtors accountable for Fraud and LIES. HOLD the National Association of Realtors President, Assocition Board, Economist Accountable for their FLAT out LIES and Propaganda EVERYWHERE that Gives Consumers FALSE Confidence and Encouragement to Buy in a Market that was HUGELY over inflated by False MLS Data and Unscrupulous Lenders with the HELP of Mortgage Broker Lies and Pressure to Close a Deal with the Help of Appraisors and Realtors....

a Seriously Broken System - the Real EstateIndustry Needs a Total Make Over
Crystal L. Cox
Real Estate Broker Owner
Ten Lakes Realty
www.RealEstateIndustryWhistleblower.com
Crystal Cox Eureka

“Morgicide” – The Illegal Destruction of Mortgages by Securitization

"If a bank modifies a loan, the modification may result in injury to certain classes of investors. Such financially injured investors may then sue the banks for improper administration of the investment resulting in billions of dollars of liability. Foreclosure, the measure generally accepted and prescribed in the investment documents to cure default of securitized loans, averts risk and liability for lenders.

The securitized mortgages are subject to rules created in the investment documents and rules issued by the Internal Revenue Service to secure favorable tax treatment for securitized loans. These rules constrain the ability of the banks to modify mortgages. Such rules may include the following:

(a) Imposing the restrictions on mortgage modification required to be made to qualify for pass through tax treatment under IRS regulations.

(b) Imposing restrictions upon the number of mortgages in the pool which may be modified.

(c) Providing a procedure and fees to be paid for foreclosure but no procedure to modifying the loan as an alternate dispute resolution.

(d) Creating securities with classes of ownership (“tranches”) with adverse and opposing financial interests resulting in so called “tranche warfare” so that a modification which favors one tranche may work a detriment upon another.

(e) Restricting the ability to lower interest payments on the note.

(f) Restricting the ability to increase the number of payments to be made.

(g) Restricting the ability to defer payments.

(h) Restricting the ability to extend the term of the mortgage.

(i) Restricting the ability to impose a temporary moratorium on payments.

(j) Restricting the ability to accept “short sales”.

(k) Creating potential liability to a specific class of certificate holders by entering into a modification agreement required for an alternate dispute resolution.
(l) Requiring the servicing agent to purchase any loan which has been modified.

These restrictions work a modification of the Transaction without the consent of the borrower. This constitutes either a breach of contract or a tortious interference with a contract, or both. Failure to have obtained the consent of the borrower to a securitization of the mortgage is a legally fatal flaw."

Full Post and Link to Source
http://4closurefraud.wordpress.com/2009/12/27/morgicide-the-illegal-destruction-of-mortgages-by-securitization/
Real Estate