Your mortgage has been securitized win with an audit

Understanding Loan Securitization

In this section, John Shookoff explains the concept of loan securitization and its implications for borrowers.

What is Loan Securitization?

• Loan securitization refers to the process of selling a loan on the stock market.

• Most loans, including mortgages, are likely to have been securitized.

• When a loan is securitized, it means that the bank servicing the loan does not necessarily own it.

Implications of Loan Securitization

• Banks like Bank of America and Wells Fargo may service your loan but not actually own it.

• Payments made by borrowers are forwarded to the rightful owners of the securitized loans.

• If a loan has not been securitized, such as when a private person acts as the lender, foreclosure may be possible without involving third parties.

The Process of Securitizing Loans

John Shookoff explains how loans are bundled and sold on the stock market through securitization.

Bundling and Selling Loans

• Loans are bundled together in groups of around 500 before being sold on the stock market.

• This bundling process is similar to grouping carrots together.

• Bundled loans are then sold as securities on the stock market.

Legal Implications of Loan Securitization

• Once a loan has been sold on the stock market, neither the stock market nor its investors can legally foreclose or perform short sales on properties associated with those loans.

• Homeowners who have experienced foreclosure or short sales due to securitized loans may have legal grounds for suing banks.

Banks' Profitability from Foreclosures

John Shookoff discusses the profitability of banks through loan securitization and foreclosure.

Banks' Insurance on Loans

• Banks typically insure loans for two and a half times their original amount.

• In the event of foreclosure, banks can potentially make significant profits from insurance claims.

Inability to Reverse Securitized Loans

• Once a loan has been securitized, it cannot be reversed back into a traditional loan.

• This inability to reverse securitized loans highlights how banks may take advantage of borrowers.

Seeking Assistance for Foreclosure Cases

John Shookoff offers assistance to homeowners who have faced foreclosure due to securitized loans.

Securitization Audits and Legal Action

• Homeowners who possess all relevant paperwork related to their foreclosed homes, such as notes, deeds of trust, and appraisal reports, can seek help through securitization audits.

• Securitization audits provide insights into the history of the loan and potential legal actions against the bank.

• Homeowners may be able to sue banks for up to two and a half times the amount already paid during foreclosure.

Banks' Profits from Foreclosures

• Through securitization and subsequent resale of foreclosed properties, banks can make three to five times more money than what they initially received from borrowers.

• The servicing lender is not necessarily the owner of the loan but benefits greatly from these profitable practices.

The Importance of a Securitization Audit

In this section, the speaker emphasizes the significance of a securitization audit in understanding and documenting what happened with a mortgage. They claim to be the only provider of a level three securitization audit in the United States.

Importance of Securitization Audit

• A securitization audit is like a snapshot that captures every detail of what happened with a mortgage.

• The speaker claims to be the only one providing a level three securitization audit in the United States.

Limitations on Helping Short Sale Homeowners

The speaker explains that they cannot assist homeowners who have gone through short sales because they agreed to sell their property for less than owed. They express frustration with banks taking advantage of such situations.

Limitations on Assistance

• The speaker cannot help individuals who have undergone short sales as they agreed to sell their property for less than owed.

• Banks benefit from short sales, making five times their money while homeowners suffer losses.

• Homeowners are partially responsible for allowing banks to take advantage of them.

Alternatives to Foreclosure and Cash for Keys

The speaker advises against options like deed-in-lieu, short sale, foreclosure, and cash for keys. They offer an alternative solution that legally removes clouds on titles during foreclosure proceedings.

Alternatives to Consider

• Avoid deed-in-lieu, short sale, foreclosure, and cash for keys.

• Consult the speaker's website for more information on how to legally remove clouds on titles during foreclosure proceedings.

Understanding Securitization and Removing Clouds on Titles

The speaker explains how mortgages are typically securitized by banks and sold as stocks. They emphasize that once a loan is securitized, it becomes a stock and cannot be reversed. They encourage viewers to visit their website for more information.

Securitization and Removing Clouds on Titles

• Most banks securitize mortgages by selling them as stocks.

• Once a loan is securitized, it cannot be reversed back into a loan.

• Visit the speaker's website for further details on removing clouds on titles.

Exceptions to Securitization and Banks' Profitability

The speaker mentions that credit unions and private lenders like themselves do not typically securitize mortgages. They explain how banks now make less profit due to changes in the securitization process.

Exceptions to Securitization

• Credit unions and private lenders usually do not securitize mortgages.

• Banks used to make five times their money through traditional lending practices but now make only one-and-a-half times by securitizing loans.

Understanding the Loan-Securities Relationship

The speaker clarifies that when a loan is securitized, it becomes a stock. They emphasize that it is impossible to convert a stock back into a loan. Viewers are encouraged to visit the speaker's website for more information.

Loan-Securities Relationship

• When a loan is securitized, it transforms into a stock.

• It is not possible to convert a stock back into a loan.

• Visit the speaker's website for comprehensive information on this topic.

Assistance Offered by the Speaker

The speaker offers assistance with mortgage-related issues from 2000 onwards, provided all necessary paperwork was completed at the beginning of the process. They mention providing level three securitization audits, which are more comprehensive than other options available.

Assistance Provided by the Speaker

• The speaker can assist with mortgage-related issues from 2000 onwards, given the completion of initial paperwork.

• They offer level three securitization audits, which are more comprehensive than other options available.

The Power of Securitization Audits in Legal Proceedings

The speaker highlights the significance of level three securitization audits as legal documents that provide evidence in court. They encourage viewers to support their videos and offer referral rewards.

Power of Securitization Audits in Legal Proceedings

• Level three securitization audits serve as legal documents providing evidence in court.

• Combining these audits with relevant documents can strengthen a case.

• Viewers are encouraged to support the speaker's videos and refer others for a reward.

Timestamps have been associated with bullet points based on the provided transcript.