Abstract: How Your Mortgage Became a Wall Street Security Without Your Knowledge

How Your Mortgage Became a Wall Street Security Without Your Knowledge, by William Paatalo is a foundational resource for understanding systemic irregularities in mortgage lending and securitization. Rather than include the full text here, I have provided a synopsis below, with the full PDF available for download.

Abstract Highlights:

• Reveals how residential mortgages were used as raw material for Wall Street securities without borrowers’ informed consent.
• Details how promissory notes were deposited into trusts and traded without lawful delivery or proper endorsement.
• Examines the role of MERS (Mortgage Electronic Registration Systems, Inc.) in severing ownership transparency and masking chain of title.
• Explains the legal consequences of bifurcation between notes and mortgages, and why many assignments are void.
• Presents how homeowners can use administrative tools (UCC 2-609, FDCPA, TILA) to demand verification, accounting, and standing from servicers.
• Cites critical rulings including Jesinoski v. Countrywide, Glaski v. Bank of America, In re Herrera, and UCC Article 8, supporting the borrower’s right to verification.

This abstract empowers legal professionals, judges, and homeowners alike to understand how foreclosure actions are frequently initiated without lawful authority, and why administrative due process is essential.

Click Here: Combined Abstract & Addendum – How Your Mortgage Became A Wall Street Security Without Your Knowledge