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Man makes ridiculously Complicated Chart to find out Who Owns his Mortgage

We all know the mortgage securitization process is complicated.

But just how complicated? The chart below from Zero Hedge shows the convoluted journey a mortgage takes as it morphs into a security.

Dan Edstrom, of DTC Systems, who performs securitization audits, spent a year putting together a diagram that traces the path of his own house's mortgage. "Just When You Thought You Knew Something About Mortgage Securitizations," says Zero Hedge, you are presented with this almost hilariously complicated chart.

[Related: Congress gets richer in a down economy]

The controversy over allegedly shoddy paperwork has raised doubts about the legitimacy of foreclosures nationwide (a crisis illustrated here and here), eliciting lawsuits from homeowners and investors alike.

The Congressional Oversight Panel, a bailout watchdog, released a statement Tuesday that says the scandal over alleged "robo-signers," foreclosure processors who approve documents without reading them, "may have concealed much deeper problems" in the mortgage industry, HuffPost's Shahien Nasiripour reports. (See the most shocking robo-signer statements.)

Regulators will have their hands full.

Have a look at the complicated chart from Edstrom:

http://i.huffpost.com/gen/220309/CHART-NEW.jpg

http://news.yahoo.com/s/huffpost/20101118/cm_huffpost/785315




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Bump for Fishy

Bump for Fishy

Follow me on Twitter for breaking news from a libertarian perspective

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No comment by Fishy yet?????

No comment by Fishy yet?????

Thanks!

I'm trying to feed fish and chickens and dogs and surf!

It looks like some twisted version of "Monopoly!" and if you pass "Go" they collect 200 dollars and put a hotel on your property...

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...

Actually, that work is

Actually, that work is ultimately more important. The chart is interesting since the guy who drew it works for a securitization firm

Follow me on Twitter for breaking news from a libertarian perspective

www.twitter.com/AbolishTheFed

It is a "forensic audit" isn't it?

Just graphed out so any idiot can see what a convoluted mess the system is?

This is the article that got my posting privileges revoked:
http://bklim.newsvine.com/_news/2013/05/12/18212165-dr-stan-...