Securitisation means your loan was securitized into an investment trust. Securitization is a process by which hundreds of loans are pooled together, placed into an investment trust, and then converted into securities called certificates, and then sold to investors on Wall Street and all over the world for billions of dollars. Essentially, this means your loan was sold to the investment trust, and your original lender is no longer the owner of your mortgage. However, when the loan is sold, the loan servicer retains the rights to service your loan, meaning the collection of payments, and all other issues regarding the servicing of your loan. In all of the cases we’ve seen, and that has been hundreds, the securitization process was conducted illegally, leaving the trust vulnerable to be challenged, as to whether they can actually prove they are the true owner of your mortgage. Only then do they have the right to foreclose on your property, and they must prove their rights by producing documented evidence of ownership, which in practically all instances they cannot. The reason why there is no single investor on the loan is because in the securitization process, the loans were split up into certificates and sold off to thousands of individual investors.
Posted on: Tue, 13 Aug 2013 00:46:54 +0000
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