November 20, 2023
A private investigator who performs detailed mortgage loan audits has located the most incredible admission in a PSA::
(b) Purchaser acknowledges, understands, and agrees that Sellers have constructive or actual knowledge that fraud, misrepresentations, or omissions occurred in connection with the origination or modification of some or all of the Mortgage Loans and Sellers may have undertaken investigations or other steps with respect to some or all of such instances of fraud, misrepresentation, or omission. Purchase acknowledges, understands, and agrees that Sellers will not identify the Mortgage Loans subject to Seller investigations, nor will Sellers provide any information about such Seller investigations. Purchaser expressly assumes all risks arising from fraud, misrepresentation, or omission in connection with the origination or modification of te Mortgage Loans.
So the sellers of the loans to the securitizations admit to engaging in fraud and misrepresentation, will not give any details as to this, and the buyer buys admittedly fraudulent loans and takes all responsibility for them.
Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com