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Who Are These People, And Why Are They Doing This To Us?

H.R. 3808 quietly passed both houses, and recently landed on President Obama’s desk, he has evidently decided not to sign it.

Good for him.

H.R. 3808 has the effect of enabling the process of foreclosure by lowering the standards applied to the documentation necessary to prove standing on the part of those claiming to be assignees to the original mortgage agreement.

The reason this is important is that in the process of securitizing our nations mortgages,(Bundling up thousands of home mortgages and selling them as investments) the sellers of the resulting securities found it necessary to obscure the low-quality of the underlying mortgages in order to make their ‘product’ more attractive to buyers, and the method they used to obscure the quality of those mortgages is complicated, but had the effect of destroying the parties ability to prove a clean, and complete chain of title.

Lacking the ability to demonstrate a complete chain of title, those who seek to foreclose on delinquent mortgages cannot prove they have the legal right to foreclose.

In examining the history of H.R. 3808, it would seem that somebody foresaw the difficulties these parties would face in trying to prove their claims to the courts when the complete chain of title could not be documented. . . .

It is because the chain of title was deliberately broken by the process employed to hide the quality of the mortgage from the investor, that the process of foreclosure would be nearly impossible without fraud.(Story by Ellen Brown, here at

The result of the problems faced by parties wishing to foreclose on property that they cannot prove they own has been the growth of a nation-wide network of foreclosure mills (h/t to Cynthia Kouril) turning out fraudulent documentation, and the process used by these foreclosure mills involves employees fraudulently notarizing affidavits attesting to the existence of non-existing documentation of the clean chain of title.

It seems clear IMHO that H.R. 3808 is an effort to make this fraud easier to perpetrate by mandating that State and Federal courts accept the notarization of documents by licensed notaries public not located in the state where the court is located, which of course would make it very much more difficult, and expensive to challenge the documentation manufactured by these foreclosure mills, which are often located in distant states.

So, you might ask, who is it that sponsored H.R. 3808, and why?

That would be;

Robert Aderholt R-Al4, and his three co-sponsors;

Bruce Braley D-Ia,

Artur Davis D-Al7, and,

Michael Castle R-De.

I’m not pretending to know why these guys have sponsored a law that enables the continuing abuse of American homeowners at the hands of the Wall St. Casino crowd, but I am sure that their actions and the fraud that they are knowingly or unknowingly enabling has become so obvious that it can no longer be denied.

Robert Aderholt has sponsored other, almost identical bills going back to 2005;

H.R. 1979, introduced April 20, 2007 and H.R.1458 introduced April 5, 2005.

If my suspicions are correct, the history of Mr. Aderholt’s efforts to pass this legislation would indicate that the crooks on Wall St. knew that future foreclosure proceedings contained a minefield that could result in the disclosure of their fraudulent and criminal behavior wrt the original creation and sale of Mortgage Backed Securities, and they moved to minimize that danger through legislation.

I would like to see some congressional investigation concerning the exact nature of Mr. Aderholt’s motivations concerning his sponsoring of these bills.

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