Comments on: The Dog Ate My Note http://www.notebuyingprofits.com/blog/1452/the-dog-ate-my-note/ Real-Life, Up-to-Date Training to Profit from Defaulted Mortgages Mon, 26 Apr 2010 20:53:17 -0400 http://wordpress.org/?v=2.8.2 hourly 1 By: Sean Olender http://www.notebuyingprofits.com/blog/1452/the-dog-ate-my-note/comment-page-1/#comment-924 Sean Olender Wed, 27 Jan 2010 23:58:48 +0000 http://www.notebuyingprofits.com/blog/?p=1452#comment-924 Susie, I understand that folks at this website and in your educational programs are US investors in notes. But what about this issue for securitized notes where the owners may be all over the world, or may not exist at all (i.e. they were already paid off by insurance on an under performing or nonperforming trust by a bond insurer)? Here, in the situation you describe, there is a real identifiable person who owns that note and is rightfully pursuing their personal interest in it. My confusion is about the situation where there is no identifiable person or entity that owns the note. There is a servicer, but the servicer is unable to explain who owns the note, who has the beneficial interest in the note and is getting the principal and interest payments. Also, where the interest is split among many people as is the case in these big mortgage trusts, it appears that the mortgage stays with the trustee to the mortgage fund and the notes remain in the possession of the individual investors -- or do the notes stay with the trust as well? Susie, I understand that folks at this website and in your educational programs are US investors in notes. But what about this issue for securitized notes where the owners may be all over the world, or may not exist at all (i.e. they were already paid off by insurance on an under performing or nonperforming trust by a bond insurer)?

Here, in the situation you describe, there is a real identifiable person who owns that note and is rightfully pursuing their personal interest in it. My confusion is about the situation where there is no identifiable person or entity that owns the note. There is a servicer, but the servicer is unable to explain who owns the note, who has the beneficial interest in the note and is getting the principal and interest payments.

Also, where the interest is split among many people as is the case in these big mortgage trusts, it appears that the mortgage stays with the trustee to the mortgage fund and the notes remain in the possession of the individual investors — or do the notes stay with the trust as well?

]]> By: STEVEN MANCILLA http://www.notebuyingprofits.com/blog/1452/the-dog-ate-my-note/comment-page-1/#comment-893 STEVEN MANCILLA Thu, 05 Nov 2009 04:04:23 +0000 http://www.notebuyingprofits.com/blog/?p=1452#comment-893 WOW!!! This is high level & deep insight!!! Thank you for this invaluable knowledge!!! WOW!!! This is high level & deep insight!!!

Thank you for this invaluable knowledge!!!

]]>