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Mortgage-back Securities Strike Again

March 23, 2009

Analysis of:Rise in foreclosures 'a shock' | money.cnn.com

RealtyTrac based their expectations on the foreclosure moratorium of Fannie Mae (FNM), Freddy Mac (FRE) and major banks. What RealtyTrac failed to take in to account mortgage-back securities, mortgages held by banks security divisions and Wall Street firms, serviced by corporations hired to service these mortgages. The servicing corporations do not have a foreclosure moratorium and are still collecting fees not matter the mortgages fate. The Mortgage holder cannot just call up the bank and ask for help, the bank will not have the loan listed on their books; the loan is a security or investment of the bank and viewed as such.

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