This insanely complex chart represents securitization auditor Dan Edstrom's best attempt to figure out who actually owns his mortgage: "The following flow chart reverse engineers the mortgage on the Ekstrom family residence. It took Dan over one year to take it this far and it clearly demonstrates what happens when there are too many lawyers being manufactured."
Just When You Thought You Knew Something About Mortgage Securitizations
(Thanks, Mr. Tough!)
"Proactive credit line increases" (PCLIs) are when your credit card company increases your credit limit without your asking for it; it was very common prior to the 2008 crisis, but… READ THE REST
Elena Botella worked at Capital One — one of the US's leading issuers of subprime credit-cards — for three years; in a fascinating first-person account, she describes how Capital One's… READ THE REST
New York City's "marshal" service is a throwback to the Dutch colonial days; the 35 marshals are appointed by the mayor, draw no salary, and earn their livings by skimming… READ THE REST
Dessert cheesecake wafer bear claw fruitcake. Fruitcake chupa chups donut candy canes marzipan. Apple pie sweet roll tart chocolate cake macaroon marshmallow carrot cake gummi bears sweet. Pastry sugar plum… READ THE REST
We all know vital information about ourselves and our private digital accounts can be compromised by cybercriminals. However, many would be frightened to know just how compromised they and their… READ THE REST
While mosquitoes have certainly earned their title as the deadliest animal on earth, their impact on most of our lives is usually a lot less consequential. But even though they… READ THE REST
