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Loan Modification

: Mortgage Lender Implode-o-Meter

See, I Told You So (Mass-Document Forgery?)

By Implode-Explode Heavy Industries

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``... these defaulted notes can't be conveyed into the REMIC now even if there was a cure available in the pooling and servicing agreement, because doing so causes revocation of the REMIC's tax-privileged status retroactive to its creation. This would likely expose the trustees to not only monstrous lawsuits but possible criminal fraud charges.''

Full post as published by Mortgage Lender Implode-o-Meter on October 04, 2010 (boomark / email).

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