§ 152. Concealment of assets; false oaths and claims; bribery

 

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http://www.law.cornell.edu/uscode/html/uscode18/usc_sec_18_00000152—-000-.html
 

§ 152. Concealment of assets; false oaths and claims; bribery

How Current is This?
A person who­
(1) knowingly and fraudulently conceals from a custodian, trustee, marshal, or other officer of the court charged with the control or custody of property, or, in connection with a case under title 11, from creditors or the United States Trustee, any property belonging to the estate of a debtor;
(2) knowingly and fraudulently makes a false oath or account in or in relation to any case under title 11;
(3) knowingly and fraudulently makes a false declaration, certificate, verification, or statement under penalty of perjury as permitted under section 1746 of title 28, in or in relation to any case under title 11;
(4) knowingly and fraudulently presents any false claim for proof against the estate of a debtor, or uses any such claim in any case under title 11, in a personal capacity or as or through an agent, proxy, or attorney;
(5) knowingly and fraudulently receives any material amount of property from a debtor after the filing of a case under title 11, with intent to defeat the provisions of title 11;
(6) knowingly and fraudulently gives, offers, receives, or attempts to obtain any money or property, remuneration, compensation, reward, advantage, or promise thereof for acting or forbearing to act in any case under title 11;
(7) in a personal capacity or as an agent or officer of any person or corporation, in contemplation of a case under title 11 by or against the person or any other person or corporation, or with intent to defeat the provisions of title 11, knowingly and fraudulently transfers or conceals any of his property or the property of such other person or corporation;
(8) after the filing of a case under title 11 or in contemplation thereof, knowingly and fraudulently conceals, destroys, mutilates, falsifies, or makes a false entry in any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor; or
(9) after the filing of a case under title 11, knowingly and fraudulently withholds from a custodian, trustee, marshal, or other officer of the court or a United States Trustee entitled to its possession, any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor,

shall be fined under this title, imprisoned not more than 5 years, or both.

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Fed’s Mortgage Purchase Program Sunsets (Exits)

 The TRILLION dollar question – if the Fed bought those *securities*, who is the Real Party in Interest/Holder in Due Course of the right to *foreclose*?

And were the assignments legally enforceable and *recorded*??  (Obviously not!!!!!!) 

By: Carrie Bay (DSNEWS)

The Federal Reserve’s role as buttress, crutch, and benefactor of the nation’s mortgage debt market came to an end Wednesday. Since November 2008, the central bank has been the market’s No. 1 patron, buying up $1.25 trillion in mortgage-backed securities (MBS) from Fannie Mae, Freddie Mac, and Ginnie Mae.

There’s been chatter that the Fed’s exit could leave a gaping hole in the secondary market for mortgage bonds, causing interest rates for home loans to spike and buyer demand to dwindle. But the central bank has been prepping the market for its absence for some time now in the hopes of diminishing such effects, and has indicated that it will be keeping a close eye on market reactions, hinting that it could step back in if conditions begin to falter.

Most market observers, though, are predicting that won’t be necessary. It appears that private investors’ appetites for agencies’ mortgage bonds are piquing. Analysts are

saying private equity will step in to pick up the slack and mortgage interest rates will rise less than a quarter of a percentage point over the next quarter.

It’s expected that there may be some price volatility in the mortgage securities space after the Fed’s withdrawal, but analysts don’t expect prices to plunge or issuers’ yields to start heading upwards. One reason for this assumption is that traditional MBS buyers now have money to burn.

Christian Cooper, an interest rate strategist at Royal Bank of Canada’s RBC Capital Markets, explained to American Banker, “As the [U.S.] government has become the world’s largest buyer of mortgage securities in the last year, they’ve effectively squeezed all other buyers out of the market. The natural mortgage-backed securities buyer has been accumulating cash, effectively waiting for the program to end.”

Economists also say that Fannie Mae and Freddie Mac’s decision to pull seriously delinquent loans from securitized pools, which they announced in February, is making the prospect of purchasing such bonds more appealing to investors. Over the next few months, the GSEs plan to buy back loans in MBS that are 120 days or more overdue – some $127 billion in loans for Fannie, and $70 billion for Freddie.

The New York Times noted that while the mortgage market appears to be taking the end of the Federal Reserve’s MBS buying in stride, any talk from the central bank about actually selling its recently-acquired holdings should be a cause for greater concern than the Fed simply ending further purchases, since the Fed now owns about 25 percent of the outstanding stock of mortgage bonds.