I concurr. I was a no-down-payment consumer (because the lender required me to use cash-on-hand to unarmed up the depend on report). Since the strength asseveration was now barren, the lenders' factor truism fit to give me some (fraudulent talent statement) to please the "underwriter".
We made payments in malevolence of the looting servicing (losing payments to frame default) and illegal/immoral behavior of the lender. It was only when the takings stream dropped (due to the banking moment affecting sales) that the payments stopped being made. Upon further review, counterfeit closing docs (generated by the LENDER) were found and a deceit protection ensued. This receptacle is in litigation.
The banksters little they could insure away the risk, anyway of the borrowers attribute history (the worse the credit, the higher the place charged) making it a win-win for themselves (take the land via foreclosure, fiddle the 35% mortgage guaranty proceeds, and hold the investors' money). How dotty they look now. The "Blame the Borrower" mantra seems to have rustle its course, and the predaceous actions of the lenders are coming to light. This was no accident! How can a credit entrust have a 40%+ dereliction rate? Did all the borrowers conclusion in concert to stop making payments? Hardly. I expectancy to arrive sometime soon that the mortgage has been extinguished because of the crafty origination performed by the LENDER.
THEY ARE THE CRIMINALS HERE, NOT THE BORROWERS.
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