5,354 more words
In addition to defrauding the borrower whose signature will be copied and fabricated for dozens of “sales” of loans and securities deriving their value from a nonexistent loan contract, this distorted practice does two things: (a) it cheats investors out of their assumed and expected interest in nonexistent mortgage loan contracts and (b) it leaves “borrowers” in a parallel universe where they can never know the identity of their actual creditor — a phenomenon created when the proceeds of sales of MBS were never paid into trust for a defined set of investors.
Tags » Belanger
You have to hand it to… 681 more words
Conservative MPs blocked the transfer of the Gender-Neutral Anthem Bill (bill C-210) from its original sponsor Liberal MP Mauril Bélanger to chief government whip Andrew Leslie in an attempt to block passage of the bill. 284 more words