A RICO Fraud Enterprise (RICO) is behind and is the root cause of the Mortgage Crisis and has been administratively implemented by MERSCORP, Inc., Mortgage Electronic
There has been virtually no press coverage of this bankruptcy that affects the entire U.S. economy, millions of homeowners and nations who purchased RMBS securities. It far exceeds, in dollar volume and social impact, the General Motors bankruptcy which garnered front page media coverage for months.
68 percent of these mortgages in this N.Y. bankruptcy are either owned, insured, or guaranteed by Government Sponsored Enterprises (GSEs) of Fannie Mae, Freddie Mac and Ginnie Mae. Purportedly, a significant number of the mortgages are owned by RMBS Trusts.
The bankruptcy terms allows Berkshire Hathaway and Ocwen to purchase over $400 billion worth of mortgages and RMBS trusts for less than $5 billion.
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