8/2/2019 Alleged securitized trusts_comments

1/1

There are "alleged" loan pools that might not have been actually formed, but which were

referred to in securitization documents as though they had been created. Close examination

frequently reveals that the Trust was often never actually created even though investorsreceived evidence of the issuance of a bond that they had purchased that entitled them to

the receivables from the loans in one particular pool.

It was a shell game/ponzi scheme.

But that was only part of the problem. The rest was that there were multiple pools in whichloans answering the same general description were claimed. And in most cases NONE of

the descriptions precisely matches the actual loan description we were looking for. So we

ended up scratching various parts of our anatomy, realizing that the game was on and that

we were not dealing with a series of individual events, but rather, on on-going process inwhich the parts were always moving and the pretender lenders kept their options open at all

times because they were constantly repackaging loans into new pools, CDOs, special

purpose vehicles, synthetic CDOs, credit default swaps sales (the equivalent of buying the

loan) etc

And THAT was only part of the problem: we then discovered that there was literally NOPAPER trail on virtually ANY loan. That means you have a Trustee claiming to

represent investors who own asset backed bonds which in turn supposedly own the loans,

but the loans were never transferred in the first place.