I have been in court with Countrywide since May. I sued them to stop a non-judicial foreclosure of my house.
I have been studying the way that loans are made today. It turns out, and this can be confirmed with publications of the Federal Reserve, that in making a loan new money is just made up on the books from nothing. They put nothing into it, but then require that you work in order to earn the money to pay them back. What they do is similar to counterfeiting.
In doing this, though, lenders such as Countrywide give up the note that you sign with them. Laws require that they have the note in order to be able to prove that the debt is owed to them. Otherwise, a borrower could be required to pay a loan twice. Without the note they have no evidence of a debt, but they foreclose on people all the time.
I have been examining this for about three years.in the course of this lawsuit I have obtained a copy of the note that I signed that has an endorsement on the back indicating that Countrywide signed away its rights in the note and copy of a letter showing that the note was sent to another entity a few days after the note was first made.
Countrywide continued to bill for payments on the loan and to initiate a foreclosure action. This information is detailed at http://i-e. Freeservers.com/ftf/the_note.html
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