Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Inside Federal Reserve
Search for Maiden Lane LLC This is where the Fed parked Bear's Stearns toxic waste.

Maiden Lane LLC
From Wikipedia, the free encyclopedia
Maiden Lane LLC is the first holding company bearing the name that was created when JPMorgan Chase took over Bear Stearns in early 2008. It holds an asset portfolio that JPMorgan found too risky to assume in whole, and consequently the Federal Reserve Bank of New York extended a $30 billion credit line to the limited liability company to facilitate the unwinding of these assets over time. Blooomberg, citing Bank of America analysts, reported on October 2, 2008, that the Federal Reserve might stand to lose $2 to $6 billion on the asset porfolio. A November 06, 2008, update by the Federal Reserve showed that the fair value of the assets was at $26.8 billion[1], meaning a book loss of $2 billion for the Federal Reserve.[2]
The Maiden Lane name has been used for a series of bailouts including Maiden Lane II LLC and Maiden Lane III LLC.

Maiden Lane II LLC
From Wikipedia, the free encyclopedia
Maiden Lane II LLC is a limited liability company created when American International Group Inc. (AIG) was took over by the U.S. government in September 2008. Since AIG's subsidiaries holds a great many residential mortgage-backed securities that are too risky, Maiden Lane II LLC is formed to purchase these RMBS. On December 12, 2008, the Federal Reserve Bank of New York began extending credit to Maiden Lane II LLC. On the Fed's Balance Sheet as of December 17, 2008, net portfolio holdings of Maiden Lane II LLC is 20,031 million dollars[1].

Maiden Lane III LLC is a holding company created when American International Group Inc. (AIG) was taken over by the U.S. government in September 2008. Similar to Maiden Lane II LLC, Maiden Lane III LLC aims to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of AIG had written credit default swap contracts. On November 25, 2008, the Federal Reserve Bank of New York began extending credit to Maiden Lane III LLC. On the Fed's Balance Sheet as of December 17, 2008, The fed's net portfolio holding of Maiden Lane III LLC is 19,656 million dollars[1].
[edit]References

See this link

http://www.federalreserve.gov/releases/h41/Current/




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