HELP😭 so its the signature of the people who sign the contract. With no consent they sell the ABS. An never think i have the people on the primary Market pay the contract and sell it on the secondary Market and keep all the profit an proceeds. The money should go back to the creators of the contract (the people) Fraud 🤨🤬🤨😩😭
Go to the web site and look for investor or a broker or open TDA account or fidelity tell them what stock you want to buy and how many. But if you want to buy and sell securities you have to become a broker. Also if you want to sell your on light bill or car contract you have to take them to your bank and talk to the private banker study hard you have to know what your talking when you talk to them or go to jail🤪🙏😇👌
Can someone answer my question, when a loan is securitized it’s sold and removed from the banks balance sheets. Does this mean the loan is showing paid off?
@@Ic_truth you can. When a loan/account is sold or charged off, the company reported it as income to the irs. A charge off according to the IRS, is income because the debt was paid off. You have to pay taxes on the amount that was discharged. the company is supposed to send you a 1099C copy b so you can file taxes on it because the debt is charged off. They never do and they never tell you they sold your loan and is making money off it. They instead have a collecting agency trying to collect the account. If a debt collecting agency comes after you, you can use that law against then. Also charges cannot be reported to your credit, because they are technically income.
Hmm. Why would investors take on the risk associated with these mortgages? Surely, they know that the people selling them are incentivized to generate as many mortgages as they can. And, surely, they know that this incentive likely causes them to fudge and otherwise overlook income and credit requirements that would otherwise protect these investors by mitigating against the risk of a default, no? Basically, you’re selling me something that I KNOW has a very good chance of being a bag of shit. Why would I buy that? Lol. Especially given that these credit rating agencies slipped up in the past? Boggles me.
Usually the bank itself holds either the worst part of the package or a certain % of the whole amount themselves. So the bank doesn't want to get too risky since it is itself invested
HELP😭 so its the signature of the people who sign the contract. With no consent they sell the ABS. An never think i have the people on the primary Market pay the contract and sell it on the secondary Market and keep all the profit an proceeds.
The money should go back to the creators of the contract (the people)
Fraud 🤨🤬🤨😩😭
How do or can ordinary people or small investors buy Securitized products?
Go to the web site and look for investor or a broker or open TDA account or fidelity tell them what stock you want to buy and how many. But if you want to buy and sell securities you have to become a broker. Also if you want to sell your on light bill or car contract you have to take them to your bank and talk to the private banker study hard you have to know what your talking when you talk to them or go to jail🤪🙏😇👌
Can someone answer my question, when a loan is securitized it’s sold and removed from the banks balance sheets. Does this mean the loan is showing paid off?
Yes
Why can’t we do a 1099c then?
@@Ic_truth you can. When a loan/account is sold or charged off, the company reported it as income to the irs. A charge off according to the IRS, is income because the debt was paid off. You have to pay taxes on the amount that was discharged. the company is supposed to send you a 1099C copy b so you can file taxes on it because the debt is charged off. They never do and they never tell you they sold your loan and is making money off it. They instead have a collecting agency trying to collect the account. If a debt collecting agency comes after you, you can use that law against then. Also charges cannot be reported to your credit, because they are technically income.
Cut off a bit early
Hmm. Why would investors take on the risk associated with these mortgages? Surely, they know that the people selling them are incentivized to generate as many mortgages as they can. And, surely, they know that this incentive likely causes them to fudge and otherwise overlook income and credit requirements that would otherwise protect these investors by mitigating against the risk of a default, no?
Basically, you’re selling me something that I KNOW has a very good chance of being a bag of shit. Why would I buy that? Lol. Especially given that these credit rating agencies slipped up in the past? Boggles me.
Usually the bank itself holds either the worst part of the package or a certain % of the whole amount themselves.
So the bank doesn't want to get too risky since it is itself invested