Category Archives: CMO’s

60 Minutes and the foreclosure crisis: What Sentinel readers already knew

The foreclosure crisis, MERS, issues of standing, robo-signing, fraudulent notarizations and more! @font-face { font-family: “Cambria”; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0in 0in 10pt; font-size: 12pt; font-family: “Times New Roman”; }div.Section1 { page: Section1; } This Sunday on “60 Minutes“ Foreclosures 
As more and more Americans face mortgage foreclosure, banks’ crucial ownership documents for the […]

Is MERS attempting to put the genie back into the bottle with yesterdays Announcement?

MERS – The Mortgage Electronic Registration System issues an Announcement that appears to be an attempt to put the genie back into the bottle Summary: MERS has told its members not to foreclose in its name on home loans, effective immediately. As a recap for those not closely following the issues surrounding MERS and foreclosures, […]

Non-securitized mortgage flow chart

Exploring the current foreclosure crisis One of the major issues that will be in the spotlight moving forward will be the foreclosure of mortgages that were bundled and sold as REMIC’s, mortgage backed securities (MBS), and collateralized mortgage obligations (CMO’s). It is likely that for many of these mortgages that were sold and then resold, […]