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1.1 Mortgage Securitisation is A New Product To The Legacy Gold/ Legacy Money Product Set.

1.2 Roughly 10.2 Million -11 Million Mortgages Have Been Securitised in The UK. Sold Assigned or Transferred.

1.3 What Were Going to Do is Look At the Process, Identify The Problems & Provide The Solution.

1.4 The 2008 Crash Saw Iceland Financially Wiped Out and Many Others Countries Go into Recession and Then Austerity.

1.5 When The Full Details Are Known On This Subject Matter – You Realise The Entire Situation Has Been Manufactured.

1.6 2008/9 The Icelanders Gaoled The Bankers & Every Bank Loan of 100,000 Krona They Reduced To 30,000 Krona.

1.7 This Saw Property Prices Fall Across The Icelandic Property Market But

1.8 The Icelandic Economy Burst Back Into Life As a Result. They All Had Equity & Financial Room To Manouvre.

1.9 At The End There Are Two Films We Recommended You To View In Order To Understand Exactly What That Period Was Like For Those Who Were In Business, Had Investments or Suffered Financially or Health Wise. Because Of The Crash. By Design.

1.10 Some Of The Statements You May Find Challenging, But Just Go With Them For Now & We Can Pick Up In The Q&A At The End.

Lets Take A Look At The Securitisation Process..

2.1 Statement: “Banks Don’t Lend You Money. They Manage Securities”

2.2 A Security Is Also Known As A Contract, Promissory Note or A Bill of Exchange. It Has Value.

2.3 Banks Extend You Credit. They Don’t Lend You Money.

2.4 You Create That Credit With Your Signature on a Contract/ Promissory Note/ Security/ Bill of Exchange. With A Value Attached To It.

2.5 Banks Have No Financial Loss In Any Transaction. Whatsoever.

2.6 We Know We Want To Buy A Property.

2.7 What Were Not Told About Is The Hidden Power of Attorney (POA) We Are Signing Buried Within The Contracts. Evidence

2.8 There are 8 Levels of Reading within the English Language. At School and In Education In The UK, We Are Taught To Level 2.

2.9 The Contracts Have Legalese Written Into Them.

2.10 So Specific Words Have Specific Legal (Not Lawful) Meanings.

2.11 You Are Not Taught These Double Standards In Your UK Education.

2.12 So Lets Take A Look At The Key Components In The Process.

2.13 We Have A Property, A House, Shop, Block of Flats, Hotel. These Properties Can Be Either Residential or Commercial.

2.14 We Have A Contract With Terms & Conditions. We Sometimes Don’t Have All The Contract Meaning Explained To Us.

2.15We are NOT Always Given all The Pages.

2.16 For instance Underlining Text means everything below “Is NOT To Be Considered” to

Italics Means Go Off This Page For The Full Meaning of the Passage.

2.17 We Have A Bank That “Lends You The Money” – This We Will Look at More Closely?

2.18 We Have A Special Purpose Vehicle – SPV.

2.19 This is a Limited Company or a Trust Dependent upon What The Bank Wish To Achieve.

2.20 The Land Registry Holds All details of Charges Against An Asset or Property.

2.21 In The Example Here We Have A Property Of Value £120,000 with Ourselves Holding £20,000 Deposit.

2.22 We Complete The Contract After Deciding To Take the Property Meeting “Lenders Requirements” of Low Risk, Not Needing Too Much Repair. Is It Good Value?

2.23 The Signed Contract Is Presented To The Lender.

2.24 The Lender Enters £100,000 To A Ledger Which Is Your Mortgage Bank Account And Takes The Security (Paperwork/ Contract) Valued At £100,000

2.25 The Lender Waits For 5/6 Good Payments Then Flags The Mortgage Contract Number For Securitisation.

3.1 The £100,000 Contract over say a 25 Year Period Is Worth £250, 000 - £300,000 Approximately in Payments With Interest?

3.2 The Bank Then Groups Together Thousands of These Contracts Aged 5-6 Months Within A Portfolio and Places A Value Of Say 120% on Each

3.3 The Bank Gains 20% Immediately On A Single Property Based On The Forward Value Of The Contract.

3.4 Selling The Future Value Packaged To Investors?

3.5 Then Goes On To Charge The Customer or Mortgagor.

3.6 Effectively Being Twice Or More?

3.7 The Largest Portfolio To Date I’ve Seen Looks Like a Telephone Directory & Was The Cheltenham & Gloucester Mortgage Book With 880,000

3.8 Mortgages Sold To Lloyds Bank. The SPV Was Called “Arkle”. After The Cheltenham Gold Cup Record Winner.

3.9 There Are Only Mortgage Numbers In These Documents and The Agreement Between The Lenders & The SPV.

3.10 The SPV Can Be Set Up As A Trust or Limited Company, Very Often Owned or Part Owned By The Same Bank Selling The Portfolio.

3.11 This Portfolio Will Be Sold on Many Times Over as Either A Residential Mortgage Backed Security RMBS or Collateralised Debt Obligation or CDO.

3.12 These Can End Up In Pension Funds or Investor Groups and Investment Funds.

Why Wasn’t I Told?

4.1. You are NOT Told You Are Signing A Power Of Attorney. Handing Over Your Signature For The Banks To Use?

4.2 .On Transfer of Title or Sale The SPV Has Not Paid Stamp Duty Land Tax on The Mortgages . Number of Reasons here but 4% Tax Avoidance Springs To Mind on Hundreds of Thousands or in this Case 10.2-11 Million Mortgages.