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Securitized Distrust Part 1

Securitized Distrust Part 1

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Published by John Reed

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Published by: John Reed on Mar 05, 2013
Copyright:Attribution Non-commercial


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Derivatives are financial weapons of mass
potentially lethal.
Warren Buffet
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Posted on March 15, 2012   by Gary Victor Dubin, Esq. Honolulu, Hawaii
Gary Victor Dubin
is a dynamite Honoluluforeclosure defense attorney with over 40 wins by the DUBIN LAW FIRM in Hawaiiforeclosure courts for his clients just in the last year. This is a stunning success given the current judicial climate in Hawaii, not to mention the complexity of securitization, the hidden
frauds…and of course, card games and golfing with banksters doesn‘t help either.
Dubin‘s essay
“Securitized Distrust”
is a culmination of insight with over 20+ years of firsthand litigation and this leads right into our latest discovery of WaMu multiple trust loan
assignments. Shuffling or fraud… or both?
It‘s no wonder that the Wall Street MBS scheme collapsed. Last night
we ran a random audit onWaMu Mortgage Pass-Through Certificates, Mortgage Loan Trusts.
One loan was found in 6
different trusts, another loan was found in FIVE trusts’
original SEC loan level data,
39were listed in 3 trusts
, and
503 were listed in two separate trusts
.The winner so far is a NEW YORK condo, loan number WaMu loan #
, appeared in 6
DIFFERENT trusts from May through November 2006…
Check your winning WaMu lottery loan numbersfolks
find a good foreclosure defenseattorney that understands securitization
you may have a free house…
or a severely cloudedtitle. And if you are an investor 
you may have hit pay dirt.(More WaMu at the bottom) 
Securitized trusts
that is, the bundling andselling of shares therein to investors via a business merger between lenders and wall street(mortgage backed securities or MBS)
is relatively new, not even understood by many lawyerstoday and very few if fully any Hawaii judges, and certainly not by me until only a few yearsago, and I am still learning day by day.In recent years, my law firm has handled dozens of securitized trust foreclosure defense casesand one defense of an SEC civil prosecution against broker-sellers of such MBS shares. Thefraud throughout the secondary mortgage market has been pervasive:1. Promissory notes intended for securitized trusts based on my experience were either intentionally
never deposited
into the securitized trust in the first place on purpose with fullknowledge by everyone involved or were deposited in the trusts only as copies.2. Based on the testimony of whistleblowers and forthright bank executives, lenders intentionallydestroyed most of their original notes and instead before doing so digitizedthem, supposedly for convenience
which of coursedestroyed their status as negotiable instruments, leaving only copies somewhere, and often notwith the Trustee.3. At first, it appeared that that was just sloppiness, but subsequently in our cases we havediscovered that it appears to have been common practice intentionally not to deposit the notes (or the mortgages) in the securitized trusts, but to withhold them and unlawfully use them on theside as collateral to support loans or credit from Federal Home Loan Bank Boards, a practice thatapparently mushroomed as lenders found themselves in financial trouble and in need of capital.4. Documented evidence has recently just been brought to my attention that many notes andmortgages were even put simultaneously into two or three or perhaps even more separatesecuritized trusts, unknown of course to individual investors who thought that they had solesecurity for their investments, unknown to insurance companies like AIG that insured the MBS

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