PLEASE NOTE: You Do Not Need To Read Everyone Of The LINKS But Take Note Of How Many There Are PROVING Your Creditors SOLD YOUR DEBT !
To generate the following searches yourself simply enter into google search engine the following phrases:
“Are my credit card debt securitized”
“What is securitization”
The Following Are Many Links Proving Your Creditors Sold Your Debt:
Here is a link From Wikipedia, the free encyclopedia.
In the above link Wikipedia definition it states clearly“Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities”
In this link it states clearly in the second paragraph.
“A card issuer sells a group of accounts to a trust, which issues securities backed by those receivables. The card issuer still services the account, but the assets are removed from its balance sheet.“
In this link it states clearly in the third paragraph
“Securitization, a process of pooling illiquid financial assets (such as loans, bonds, and mortgage) and selling the assets as liquid products to investors, emerged in 1970s and grew dramatically in early 2000s. “
Furthermore under the heading “II. Background & Past Academic Papers ” it clearly states
“The process of securitization is as following: first, the originators pool a group of similar illiquid and non-tradable financial assets (such as mortgage or car loan payments). Second, they transfer those assets to a Special Purpose Vehicle (SPV), whose sole purpose is to issue the securities. Then, they repackage the cash flows through financial contracts with different parties involved. “
According to the Dictionary: “Transfer” is another term used for the term “Sell”.
This link is from the financial post stating Credit Card Debt is securitized (Banks sell Credit Card Debt):
This link states clearly in the second paragraph:
“Securitization is the practice of combining various debt obligations (like residential mortgages, commercial mortgages, auto loans or credit card obligations) into one consolidated debt instrument, or security, such as a bond. Once the debt obligations have been pooled, a coupon is set and paid to the bond purchaser.“
The use of the term “purchaser” proves they are referring to the bank selling your debt
This link Is titled “Why Banks Sell Loans They Make”
Under the heading:
“Why loans are sold”
“Many consumers don’t realize there’s a thriving market for loans, referred to as the secondary market. When you borrow from a bank or credit union, you may not notice that the fine print on the lending agreement says the loan may be sold.“Most lenders sell loans due to liquidity reasons, meaning they don’t want the loans in their balance sheet,” says Cristina Zorrilla, assistant vice president of mortgage pricing and investor relations with Navy Federal Credit Union. “They sell loans so they can lend to more borrowers.”Some lenders sell loans to other financial institutions but keep the servicing rights.This means the customer still deals with the same lender and sends the payments to the same place. It hardly affects consumers, since the point of contact doesn’t change. However, many lenders don’t have the capacity to continue servicing all the loans they make, so they sell both the debt and the servicing rights. When that happens, customers have to send their payments to a new organization — and will deal with that new party if problems arise. Only a few, including Navy Federal Credit Union, never sell servicing rights.”
YOUTUBE VIDEOS Mentioning Creditors Sell Debt:
The following videos are explaining Securitization. They can get pretty in depth therefore we have mentioned the time within the video when they mention the Banks sells the debt to a third party.
Watch The Following Video From The Beginning to 1:39. At this point there is no point on watching past 1 min and 39 seconds of this video for now. At 1:20 of the video it states clearly the bank sold your debt!
Watch The Following Video. This Video will explain how your credit card debt was SOLD / Securitized. Every Canadian should be aware of this fact. Watch The Entire Video but PLEASE NOTE: At 1 min 3 seconds (1:03) of this VIDEO it states the Credit Card Debt Is Bought and Sold
Also at 1:30 of the above video he states Credit Card debts are bought and sold at 2:30 he states they sell the debt to another party at 3:05 he states a third party comes and buys the debt
At 0:43 seconds of the following video there is a diagram notice the diagram where it illustrates Fannie Mae exchanging money to the bank (buying the debt from the Bank)
At 29 seconds of the following video it states clearly the bank sold your debt via securitization
50 seconds he states the banks wants to sell the debt 2:25 of this video he says they grouped your debt and cut it up and sold click to watch.
30 seconds of this video he states clearly they sell the debt click to watch.
50 seconds of this video it states the banks will sell your debt click to watch.
The above is simply the tip of the iceberg of what can be found on the internet proving :
Your Creditors SOLD Your Debts!
To use the information presented in this blog to get out of debt here is a LINK worth checking out or email us at UnitedWeStandPeople@gmail.com .