Naked short selling of American mortgages and the counterfeiting that resulted are responsible for the present threat to homeowner rights. Dematerialization (computer scanning of mortgage notes) and shredding of documents have stripped the banks of their security interest in the loans. All foreclosures need to end until the truth is told.
Why is this important?
The DTCC allows and enables securities (the actual, paper documents) to become digitized to facilitate ease of trading; the process is called dematerialization.
I personally destroyed thousands of mortgage documents through the same process using a desk-top scanner.
The banks have destroyed their ownership interest (security) in all the mortgages pre-dating the melt-down and beyond; the pink slip no longer exists.
The banks are involved in a systemic criminal theft-by-deception; they don't own the loans they are attempting to mine through foreclosure, refinance, modification, short-sale, deed-in-lieu and reverse mortgage; in each of these processes they are tricking borrowers into returning the signatures they destroyed, in some instances, decades ago.
