[quote=davelj][quote=patb]
Are the banks so cheap they wanted to avoid 0.25%
fees?
[/quote]
Are you kidding? The big bank CEOs would sell their mothers to “avoid 0.25% fees” on billions of dollars in deeds. On a large scale it all adds up… and then disappears into their custom-tailored pockets.[/quote]
well if they delay the foreclosures even 30 days
they just blew all that savings.
I think it was more of a convenience issue. When you sell portions of a mortgage in various investment vehicles, how do you transfer a portion of the physical note with each new owner? The banks passed the chain of title to MERS and MERS kept track of who owned what without ever changing the physical note…
[/quote]
you transfer the note to a corporation Call it
Fannie Mae and then Fannie sells bonds itself or
shares.
Funny, Fannie managed to do this for 40 years without trouble.
I think it was more of a convenience issue. When you sell portions of a mortgage in various investment vehicles, how do you transfer a portion of the physical note with each new owner? The banks passed the chain of title to MERS and MERS kept track of who owned what without ever changing the physical note…
[/quote]
you transfer the note to a corporation Call it
Fannie Mae and then Fannie sells bonds itself or
shares.
Funny, Fannie managed to do this for 40 years without trouble.
I think it was more of a convenience issue. When you sell portions of a mortgage in various investment vehicles, how do you transfer a portion of the physical note with each new owner? The banks passed the chain of title to MERS and MERS kept track of who owned what without ever changing the physical note…
[/quote]
you transfer the note to a corporation Call it
Fannie Mae and then Fannie sells bonds itself or
shares.
Funny, Fannie managed to do this for 40 years without trouble.
I think it was more of a convenience issue. When you sell portions of a mortgage in various investment vehicles, how do you transfer a portion of the physical note with each new owner? The banks passed the chain of title to MERS and MERS kept track of who owned what without ever changing the physical note…
[/quote]
you transfer the note to a corporation Call it
Fannie Mae and then Fannie sells bonds itself or
shares.
Funny, Fannie managed to do this for 40 years without trouble.
I think it was more of a convenience issue. When you sell portions of a mortgage in various investment vehicles, how do you transfer a portion of the physical note with each new owner? The banks passed the chain of title to MERS and MERS kept track of who owned what without ever changing the physical note…
[/quote]
you transfer the note to a corporation Call it
Fannie Mae and then Fannie sells bonds itself or
shares.
Funny, Fannie managed to do this for 40 years without trouble.
.
