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If you have no money and must go into debt, you have no money to pay further claims. Duh, whats up with our laws?
Posted by: Peth | Monday, January 28, 2013 at 08:38 AM
If it looks like a duck, walks like a duck and quacks like a duck, and acts like a duck , the players in "the GSE Business Model" have called it a "servicer".
It gets goofier as the borrower has always thought that they were dealing with their "lender".
It is what a prosecutor would call a "theft by deception scheme" albeit of a dimmension never before seen with the first borrowers and then Taxpayers as victims.
Posted by: Richard Davet | Wednesday, January 16, 2013 at 08:33 AM