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Alabama Homeowners Face Wrongful Foreclosure and Mortgage Abuses Due to Mortgage Securitization
Posted by: Matthew Dunaway
March 04, 2008

Alabama homeowners are facing a barage of mortgage abuses dues to mortgage securitization and mortgage service providers.  Over the last several years, individual mortgages have been "bundled" together and sold to investors; this phenomenon is commonly referred to as securitization.  Another creation of the mortgage industry is the mortgage service provider.  This is a company that sends monthly statements and collects the monthly mortgage payments.  The mortgage service provider does not own the mortgage; they merely collect the payments.  These two "evolutions" is the mortgage industry (securitization and mortgage-service-providers") have caused homeowners millions of dollars in erroneous fees and countless hours of grief.  The New York Times has an excellent article shedding light on abusive mortgage companies.  

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