This graphic has been popping up all over the place over the last few day, originally appearing in this story at Zero Hedge (apparently) in which Dan Edstrom reverse engineered the securitized mortgage for he and his wife Teri’s house.
Click to Enlarge
It’s enough to make your head spin and it makes me wonder how our short sale deal ever got done. All we ever heard is that “the investors have to sign off” on this or that, but, it was probably a lot more complicated than that.
![[Most Recent USD from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
[...] Other Information: It is becoming painfully clear that many big banks were engaged in mortgage and foreclosure activities that are patently illegal and unfair — and they would like to whitewash this in the courts if not pressure Congress and regulators to make it legal after the fact (never mind the Constitution). The FDIC has 50 criminal investigations against banks underway, and the SEC is investigating Citigroup. Meanwhile, some banks are re-filing flawed paperwork in hopes of slipping it past scrutiny. Over two million foreclosures are still expected for each of the next 3 years as more homes go into default. Some hope that the foreclosure fraud mess can at least be partly solved with loan modifications, but I think this just kicks the can down the road. Speaking of modifications, the good news is that Bank of America approved 52% more of them in October; the bad news is that’s still only about 25,000 mortgages. Anyone who would like to try and wrap their head around some of the problems is welcome to look at t…. [...]