What is a REMIC? Real Estate Mortgage Investment Conduit (Mortgage Securitization)
In the US, a Real Estate Mortgage Investment Conduit is: Real Estate Mortgage Investment Conduit
a form of mortgage-backed security that allows the income to become taxed solely when gained by the bond holder and not by the entity that holds the right to the mortgages. Using the provisions of the Tax Reform Act of 1986, any firm, joint venture, trust company or similar company may choose for Real Estate Mortgage Investment (REMIC) status.
For you to preserve this status, the real estate mortgage investment conduit, in any form, must submit to strict rules. It may invest only in 'qualifying mortgages' (usually only first mortgages) and granted investments (generally short-term interest-bearing investments). It must pass the income from the mortgages through to the owners of the securities (26 USCA, Internal Revenue Code,
Showing posts with label Mortgage. Show all posts
Showing posts with label Mortgage. Show all posts
Sunday, December 16, 2012
Friday, August 3, 2012
Are Mortgage Loans Illegal?
A little known landmark case makes mortgage loans illegal. In fact, any bank loan may not be legal. In order for a bank legally lend you money they have to provide what is called consideration. In this case consideration is their money. However, banks never loan you real money. They loan you money made out of thin air.
Several years ago, the Federal Reserve of Chicago drafted a document entitled Modern Money Mechanics. The document outlines how money is created in a fractional reserve banking system. The fractional banking system is standard practice for all major banks. This fractional reserve banking system generally allows the government and banks to create money from promissory notes or more simply put, out of debt. It goes on to explain is the once the bank receives the money from the Federal Reserve or from deposits from customer the bank can take 10% of that money to retain as reserves. This bank can then create nine times that amount from more debt. In a nutshell, money is debt and debt is money. So therefore, bank loans including mortgage loans, credit cards and auto loans are not legal because bank loan you money from debt and not their assets. So therefore, bank does not own this money and cannot collect money on that loan.
In 1969, a man by the name of Jerome Daly challenged the fractional reserves system when he was faced with a foreclosure for being 6 in arrears with his bank, National Bank of Montgomery, Minnesota. The bank foreclosed and brought the property to a sheriff's sale in 1967.
Mr. Daily pointed out in the case that the bank had no legal right to foreclosure because it never really offered their own money to make the loan instead the invented the money or created the money out of thin air to lend to Mr. Daily via the fractional reserve system. The banker even admitted that this was standard banking practice.
Interesting to note that six months later that banker was found dead from a "boating accident". It was later found that he was poisoned.
The judge, Justice Martin V. Mahoney agreed with Mr. Daily and stated that the bank do not in fact put up it's own cash to make the loan but rather put up money created from debt. Since the bank did not own the money they therefore cannot collect on the loan. Mr. Daily won the case and the sheriff's sale was deemed void. This case dubbed The Credit River Decision, was never appealed or overturned so this law remains in effect.
Unfortunately though, this was a landmark case it is not widely known and most people don't even known that the law is on their side when is comes to collection of debt. The laws are here to protect not just big companies but the average Joe as well. It just takes a little research to find out how the laws can benefit you.
Several years ago, the Federal Reserve of Chicago drafted a document entitled Modern Money Mechanics. The document outlines how money is created in a fractional reserve banking system. The fractional banking system is standard practice for all major banks. This fractional reserve banking system generally allows the government and banks to create money from promissory notes or more simply put, out of debt. It goes on to explain is the once the bank receives the money from the Federal Reserve or from deposits from customer the bank can take 10% of that money to retain as reserves. This bank can then create nine times that amount from more debt. In a nutshell, money is debt and debt is money. So therefore, bank loans including mortgage loans, credit cards and auto loans are not legal because bank loan you money from debt and not their assets. So therefore, bank does not own this money and cannot collect money on that loan.
In 1969, a man by the name of Jerome Daly challenged the fractional reserves system when he was faced with a foreclosure for being 6 in arrears with his bank, National Bank of Montgomery, Minnesota. The bank foreclosed and brought the property to a sheriff's sale in 1967.
Mr. Daily pointed out in the case that the bank had no legal right to foreclosure because it never really offered their own money to make the loan instead the invented the money or created the money out of thin air to lend to Mr. Daily via the fractional reserve system. The banker even admitted that this was standard banking practice.
Interesting to note that six months later that banker was found dead from a "boating accident". It was later found that he was poisoned.
The judge, Justice Martin V. Mahoney agreed with Mr. Daily and stated that the bank do not in fact put up it's own cash to make the loan but rather put up money created from debt. Since the bank did not own the money they therefore cannot collect on the loan. Mr. Daily won the case and the sheriff's sale was deemed void. This case dubbed The Credit River Decision, was never appealed or overturned so this law remains in effect.
Unfortunately though, this was a landmark case it is not widely known and most people don't even known that the law is on their side when is comes to collection of debt. The laws are here to protect not just big companies but the average Joe as well. It just takes a little research to find out how the laws can benefit you.
Sunday, July 8, 2012
Things You Should Know About How To Find A Home Equity Loan Lowest Rate Mortgage
You will discover an immense amount of people that have found themselves keenly trying to seek out a method to get extra cash through any way available. Those that own their homes, can actually try to apply for a home equity loan in order to obtain a decent amount of money. However, many people have questions regarding how to get a home equity loan lowest rate.
You'll find two main items that will likely be analyzed at the time you are trying to get hold of a 2nd mortgage. The first thing is your credit score, and the next is the sum total of value that you own on your home. Folks that have an adequate credit rating may in reality be able to get the lowest interest rates, whereas those with not so ideal scores may well find the undertaking difficult to conclude.
Just to give you an idea of where your score is presently at, it's prudent to endeavor to get hold of your credit file on your own before you apply for a home equity loan. Normally, anybody with a great credit rating can expect to obtain several of the lowest interest rates on their finance, while people with a low score normally have to pay a higher amount.
You'll find various different lenders that have changed their thoughts towards offering individuals that do not have good credit scores home equity loans. Even though, these lenders are there in the marketplace, acquiring a high credit rating is always going to be a factor which will set you above all the others.
So many people have noted that a terrific technique to become accepted for a 2nd mortgage is to apply for the loan through the identical mortgage broker that they are currently paying. If you go this road, your broker already has all of your data, and this is likely to save you an immense amount of time than trying to find a lender that will not have an inclination in relation to your present-day position.
A second mortgage works off of the value that remains on your house. This sum total is decided by comparing the market value of your property and the amount that you still have left to pay on the property. If you take out a loan against this amount, you are simply taking out finance for the difference between the face value of your property, and the repayments that you have left owing.
When it comes to finding the lowest rate you can for your 2nd mortgage it will pay you to shop around so that you can familiarize yourself with your options. You will save time applying for finance through your present mortgage broker, but it cannot be cast iron that they will manage to provide you the lowest interest rate available.
There are a lot of companies which might be keen to do business with people despite the consequences of their credit rating and the amount of value they have available on their real estate. Attempt to get hold of as many quotes as you possibly can in terms of finding a 2nd mortgage, and don't be afraid to ask questions as regards the loan.
Bear in mind that the people that shop around for the lowest interest rate on an equity loan, will probably be the ones that finish up finding the type of advance and the rates that they want.
You'll find two main items that will likely be analyzed at the time you are trying to get hold of a 2nd mortgage. The first thing is your credit score, and the next is the sum total of value that you own on your home. Folks that have an adequate credit rating may in reality be able to get the lowest interest rates, whereas those with not so ideal scores may well find the undertaking difficult to conclude.
Just to give you an idea of where your score is presently at, it's prudent to endeavor to get hold of your credit file on your own before you apply for a home equity loan. Normally, anybody with a great credit rating can expect to obtain several of the lowest interest rates on their finance, while people with a low score normally have to pay a higher amount.
You'll find various different lenders that have changed their thoughts towards offering individuals that do not have good credit scores home equity loans. Even though, these lenders are there in the marketplace, acquiring a high credit rating is always going to be a factor which will set you above all the others.
So many people have noted that a terrific technique to become accepted for a 2nd mortgage is to apply for the loan through the identical mortgage broker that they are currently paying. If you go this road, your broker already has all of your data, and this is likely to save you an immense amount of time than trying to find a lender that will not have an inclination in relation to your present-day position.
A second mortgage works off of the value that remains on your house. This sum total is decided by comparing the market value of your property and the amount that you still have left to pay on the property. If you take out a loan against this amount, you are simply taking out finance for the difference between the face value of your property, and the repayments that you have left owing.
When it comes to finding the lowest rate you can for your 2nd mortgage it will pay you to shop around so that you can familiarize yourself with your options. You will save time applying for finance through your present mortgage broker, but it cannot be cast iron that they will manage to provide you the lowest interest rate available.
There are a lot of companies which might be keen to do business with people despite the consequences of their credit rating and the amount of value they have available on their real estate. Attempt to get hold of as many quotes as you possibly can in terms of finding a 2nd mortgage, and don't be afraid to ask questions as regards the loan.
Bear in mind that the people that shop around for the lowest interest rate on an equity loan, will probably be the ones that finish up finding the type of advance and the rates that they want.
Sunday, April 29, 2012
Why You Need A Certified Mortgage Securitization Audit
Pro Per litigants and Attorneys fighting foreclosure in civil or bankruptcy court need a Certified Mortgage Securitization Auditor to investigate the referenced foreclosure documentation and investigate the legitimacy of claims being made by the party seeking to foreclose.
We have seen too often how a wrongful foreclosure lawsuit can have disastrous results to the borrower, because they failed to properly prepare, and present the critical evidence to support their lawsuit. A Pro Per litigant or their attorney should order a Mortgage Securitization Audit from an outside third party certified expert to answer four simple questions.
1. Has the party seeking to foreclose demonstrated a true beneficial ownership?
2. Have claims of financial interest been fully disclosed and represented truthfully?
3. Have all beneficial owners and parties been voluntarily disclosed?
4. Have all material facts, documents and agreements that govern the transaction been disclosed?
If the answer to any of the above questions is no, The Homeowners Revolt will have a Certified Mortgage Securitization Auditor perform the research and investigation to see if the foreclosing party has any legal standing to pursue foreclosure.
Our Certified Mortgage Securitization Auditors will report their findings based on facts and documentation, which should be fully admissable, because they pertain to material issues, and the documentation upon which they rely, is a source considered to be extremely credible, reliable, and easily authenticated through public information. In addition, our experts provide you with a legal affidavit of the facts, and stand ready to back up their findings in a court of law.
A Certified Mortgage Securitization Auditor oversees the audits, discovery, investigation and reporting. Our reports are more than just informative. We provide a declaration of facts attesting to our findings. Unlike other companies providing Securitization Audits, we provide SEC specific information on the trust and confirm those findings using Bloomberg data to validate the information. Bloomberg is the industry leader for sourcing Securitization information, and you must have a specialized Bloomberg terminal, in order to access the information.
We service all 50 states both judicial and non-judicial, Civil and Bankruptcy, Pre-Foreclosure and Foreclosure. We provide data other companies just won't bother to include, either because they choose not to, or they simply don't have access.
When you decide on going into battle to present the facts, make sure you arm yourself with the Weapons Of Mass Destruction you'll need in order to fight your mortgage WAR and WIN! Only by having undisputed factual evidence and information, can you expect to get the results you desire.
An audit that traces the Note and the Deed, verifies Title, pinpoints the EXACT Trust, pulls SEC specific information, and uses Bloomberg Professional, is the Weapon Of Mass Destruction you need!
Visit The Homeowners Revolt to Order your Certified Mortgage Securitization Audit NOW!
We have seen too often how a wrongful foreclosure lawsuit can have disastrous results to the borrower, because they failed to properly prepare, and present the critical evidence to support their lawsuit. A Pro Per litigant or their attorney should order a Mortgage Securitization Audit from an outside third party certified expert to answer four simple questions.
1. Has the party seeking to foreclose demonstrated a true beneficial ownership?
2. Have claims of financial interest been fully disclosed and represented truthfully?
3. Have all beneficial owners and parties been voluntarily disclosed?
4. Have all material facts, documents and agreements that govern the transaction been disclosed?
If the answer to any of the above questions is no, The Homeowners Revolt will have a Certified Mortgage Securitization Auditor perform the research and investigation to see if the foreclosing party has any legal standing to pursue foreclosure.
Our Certified Mortgage Securitization Auditors will report their findings based on facts and documentation, which should be fully admissable, because they pertain to material issues, and the documentation upon which they rely, is a source considered to be extremely credible, reliable, and easily authenticated through public information. In addition, our experts provide you with a legal affidavit of the facts, and stand ready to back up their findings in a court of law.
A Certified Mortgage Securitization Auditor oversees the audits, discovery, investigation and reporting. Our reports are more than just informative. We provide a declaration of facts attesting to our findings. Unlike other companies providing Securitization Audits, we provide SEC specific information on the trust and confirm those findings using Bloomberg data to validate the information. Bloomberg is the industry leader for sourcing Securitization information, and you must have a specialized Bloomberg terminal, in order to access the information.
We service all 50 states both judicial and non-judicial, Civil and Bankruptcy, Pre-Foreclosure and Foreclosure. We provide data other companies just won't bother to include, either because they choose not to, or they simply don't have access.
When you decide on going into battle to present the facts, make sure you arm yourself with the Weapons Of Mass Destruction you'll need in order to fight your mortgage WAR and WIN! Only by having undisputed factual evidence and information, can you expect to get the results you desire.
An audit that traces the Note and the Deed, verifies Title, pinpoints the EXACT Trust, pulls SEC specific information, and uses Bloomberg Professional, is the Weapon Of Mass Destruction you need!
Visit The Homeowners Revolt to Order your Certified Mortgage Securitization Audit NOW!
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