[SK in CV]

This is one little piece in a great big mine field for the mortgage loan industry. It follows a good dozen rulings against them across the country, on more than half a dozen different fronts. Off the top of my head we have:

1. MERS standing.
2. Improper endorsements.
3. Failure to transmit original documents.
4. Attesting to the accuracy of claims made based on personal knowledge of attestee.
5. Violation of NY trust laws which apply to almost all REMICs.
6. Violations of trust specific documents, which, in conjunction with 5 above could invalidate the securitization process, putting tax treatment in jeopardy.
7. Failure to record ownership transfers as required in some jurisdictions.
8. I know there’s at least 3 more that aren’t immediately coming to mind.

This one ruling actually touches on a few of them. Many of them only apply in some states. Some of them can be cured. But it’s a mess. And will almost undoubtedly be something the lenders and loan servicers could have avoided. They deserve all bad things that come to them.

[SK in CV]

This is one little piece in a great big mine field for the mortgage loan industry. It follows a good dozen rulings against them across the country, on more than half a dozen different fronts. Off the top of my head we have:

1. MERS standing.
2. Improper endorsements.
3. Failure to transmit original documents.
4. Attesting to the accuracy of claims made based on personal knowledge of attestee.
5. Violation of NY trust laws which apply to almost all REMICs.
6. Violations of trust specific documents, which, in conjunction with 5 above could invalidate the securitization process, putting tax treatment in jeopardy.
7. Failure to record ownership transfers as required in some jurisdictions.
8. I know there’s at least 3 more that aren’t immediately coming to mind.

This one ruling actually touches on a few of them. Many of them only apply in some states. Some of them can be cured. But it’s a mess. And will almost undoubtedly be something the lenders and loan servicers could have avoided. They deserve all bad things that come to them.

[SK in CV]

This is one little piece in a great big mine field for the mortgage loan industry. It follows a good dozen rulings against them across the country, on more than half a dozen different fronts. Off the top of my head we have:

1. MERS standing.
2. Improper endorsements.
3. Failure to transmit original documents.
4. Attesting to the accuracy of claims made based on personal knowledge of attestee.
5. Violation of NY trust laws which apply to almost all REMICs.
6. Violations of trust specific documents, which, in conjunction with 5 above could invalidate the securitization process, putting tax treatment in jeopardy.
7. Failure to record ownership transfers as required in some jurisdictions.
8. I know there’s at least 3 more that aren’t immediately coming to mind.

This one ruling actually touches on a few of them. Many of them only apply in some states. Some of them can be cured. But it’s a mess. And will almost undoubtedly be something the lenders and loan servicers could have avoided. They deserve all bad things that come to them.

[SK in CV]

This is one little piece in a great big mine field for the mortgage loan industry. It follows a good dozen rulings against them across the country, on more than half a dozen different fronts. Off the top of my head we have:

1. MERS standing.
2. Improper endorsements.
3. Failure to transmit original documents.
4. Attesting to the accuracy of claims made based on personal knowledge of attestee.
5. Violation of NY trust laws which apply to almost all REMICs.
6. Violations of trust specific documents, which, in conjunction with 5 above could invalidate the securitization process, putting tax treatment in jeopardy.
7. Failure to record ownership transfers as required in some jurisdictions.
8. I know there’s at least 3 more that aren’t immediately coming to mind.

This one ruling actually touches on a few of them. Many of them only apply in some states. Some of them can be cured. But it’s a mess. And will almost undoubtedly be something the lenders and loan servicers could have avoided. They deserve all bad things that come to them.

[SK in CV]

Precisely what is the relationship between the gold in fort knox and the amount spent on economic and quantitative stimulus? Why does that relationship exist? Why is it important? I would propose that it is entirely artificial, that gold has no significant intrinsic value and as a monetary unit is purely a social construct. (Unlike, for instance, oil or wheat.)

Please note, I am not disputing its historical, current or future value. Only questioning why that value exists.

[SK in CV]

Precisely what is the relationship between the gold in fort knox and the amount spent on economic and quantitative stimulus? Why does that relationship exist? Why is it important? I would propose that it is entirely artificial, that gold has no significant intrinsic value and as a monetary unit is purely a social construct. (Unlike, for instance, oil or wheat.)

Please note, I am not disputing its historical, current or future value. Only questioning why that value exists.

[SK in CV]

Precisely what is the relationship between the gold in fort knox and the amount spent on economic and quantitative stimulus? Why does that relationship exist? Why is it important? I would propose that it is entirely artificial, that gold has no significant intrinsic value and as a monetary unit is purely a social construct. (Unlike, for instance, oil or wheat.)

Please note, I am not disputing its historical, current or future value. Only questioning why that value exists.

[SK in CV]

Precisely what is the relationship between the gold in fort knox and the amount spent on economic and quantitative stimulus? Why does that relationship exist? Why is it important? I would propose that it is entirely artificial, that gold has no significant intrinsic value and as a monetary unit is purely a social construct. (Unlike, for instance, oil or wheat.)

Please note, I am not disputing its historical, current or future value. Only questioning why that value exists.

[SK in CV]

Precisely what is the relationship between the gold in fort knox and the amount spent on economic and quantitative stimulus? Why does that relationship exist? Why is it important? I would propose that it is entirely artificial, that gold has no significant intrinsic value and as a monetary unit is purely a social construct. (Unlike, for instance, oil or wheat.)

Please note, I am not disputing its historical, current or future value. Only questioning why that value exists.

[SK in CV]

[quote=deadzone]
Regarding in-state tuition, I am strongly against that. Illegals by definition do not pay state or federal income tax…[/quote]

Not sure why you think this. Both with regards to the definition of illegal and that the undocumented pay no state or federal income tax.
Neither is innacurate.

[SK in CV]

[quote=deadzone]
Regarding in-state tuition, I am strongly against that. Illegals by definition do not pay state or federal income tax…[/quote]

Not sure why you think this. Both with regards to the definition of illegal and that the undocumented pay no state or federal income tax.
Neither is innacurate.

[SK in CV]

[quote=deadzone]
Regarding in-state tuition, I am strongly against that. Illegals by definition do not pay state or federal income tax…[/quote]

Not sure why you think this. Both with regards to the definition of illegal and that the undocumented pay no state or federal income tax.
Neither is innacurate.

[SK in CV]

[quote=deadzone]
Regarding in-state tuition, I am strongly against that. Illegals by definition do not pay state or federal income tax…[/quote]

Not sure why you think this. Both with regards to the definition of illegal and that the undocumented pay no state or federal income tax.
Neither is innacurate.

[SK in CV]

[quote=deadzone]
Regarding in-state tuition, I am strongly against that. Illegals by definition do not pay state or federal income tax…[/quote]

Not sure why you think this. Both with regards to the definition of illegal and that the undocumented pay no state or federal income tax.
Neither is innacurate.

[SK in CV]

[quote=Hobie][quote=SK in CV] It is no more than a failed theory. [/quote]

Sorry I lost you on the concept. So many in government tend to rule out ideas before they take the time to understand them. It really comes down to politics and power rather than directly solving a problem.

Have a good holiday![/quote]

Of course you lost me on the concept. That’s what idealogues do. Ideas they don’t like, they dismiss as irrelevant. They dismiss actual facts in favor of politics. When Laffer first proposed his theory, I questioned its validity. As a trained economist, that’s the proper thing to do with an unproven, untested theory. I didn’t dismiss it. Reagan’s tax reform included so many other good things, many of which have survived and proven to be good, it was worth a try. It failed. And then failed again.

And good holidays to you.

[Author]

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