Is it possible that creative Florida bankers discovered they could "sell" mortgages many times by conveniently delivering a "copy" of the electronic note for each subsequent sale? By delivering a "good" electronic note to each purchaser, the seller/servicer could kite the Ponzi scheme to the sky, using the proceeds from each sale to pay interest to each new group of investors.
The Fraud Perpetrated Upon Investors and Insurers Due to Multiple Pledges of Collateral Could be Massive
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Seeded on Wed Oct 27, 2010 11:24 AM
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