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MBS Investors waking up to the fact that servicers represent servicers — not investors.

Great blog post by Neil Garfield discussing a New York Times article from several years ago which shows that even several years ago investors in Mortgage Backed Securities were becoming aware that the big banks and mortgage servicing companies are protecting only their own interests as the expense of the investors.

Livinglies's Weblog

Hat Tip to Patrick Giunta, Esq.

Stumbled across this 5 year old article that supports the view that servicers are the real parties in interest who are protecting only their own interests at the expense of investor and borrower alike. The facts are undeniable. If the loans were modified or worked out, the investors would have done much better than the self inflicted crash imposed by banks posing as servicers on loans for trusts that exist only on paper and not in real life.

The fact remains that if the servicers were eliminated and a new venue was created to intermediate between borrowers and investors, the investors, the borrowers and the taxpayers would all be better off. Only the banks would ,lose out on prospective illegal gains that they have been faking for a decade. The government should have provided this venue. The crash would not have occurred and theā€¦

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