November 21, 2010 by lonbud
Infographic of the Day: Who Owns YOUR Mortgage?
Dan Edstrom gets paid to audit securitization transactions for a company called DTC-Systems, so he might have thought it fun to spend over a yearÂ reverse engineering theÂ mortgage on the Edstrom family homeÂ into the handy flow chart depicted above.
For those of us with a less erudite sense of how to get our jollies, or who might be among the millions of Americans facing foreclosure and — in some cases — the well-heeled mendacity of the nation’s bankers, this chart is graphic evidence of just how byzantine our financial reality has become.
If it took Dan Edstrom over a year to do this for his own mortgage, how long do you suppose it will take Barney Frank and Eric Holder to sort things out for the nation as a whole?