According to a number of sources mortgage notes underlying securitizations were in many or possibly most cases not properly forwarded to the trusts as required by the PSAs and the REMIC regulations. Trustees were obliged to, and did, file annual certifications that the notes had been properly transferred, when, in many cases, they had not. This raises some questions for me. Help me out here if you can.
1) Where were these certifications filed?
2) Are they available for inspection by the general public?
3) If not available to the public, who has access to these certifications?
4) Are they required to be filed with the IRS?
5) Are they filed under oath?
6) For each trust, what are the names of the persons who signed the certifications on behalf of the trustee?
7) Are any of the persons who signed such certifications lawyers?
8) If lawyers, where are they licensed?
9) If lawyers, who has the authority to impose sanctions for professional misconduct in the jurisdiction in which they are licensed?
10) Has any entity anywhere with authority to impose sanctions for professional misconduct actually taken action against any lawyer for signing off on false certifications?
11) Who has standing to file grievances (for professional misconduct, not claims for damages) against lawyers for signing off on false certifications?
12) If persons signing off on false certifications were not lawyers, were they licensed by any kind of professional body?
13) Has any professional association anywhere taken action against any licensee anywhere to discipline them for professional misconduct in connection with the signing of false certifications?
14) If the certifications were filed under oath with any branch of the federal government, is it not a criminal offense to knowingly file false certifications?
15) Has anyone, anywhere, been investigated or criminally prosecuted for filing false certifications in connection with botched securitizations?
16) Has anyone, anywhere, been held accountable for professional misconduct of any kind associated with botched securitizations?
17) Are the same jokers who signed the false certifications still being allowed to sign certifications today?
18) Who would continue to accept certifications from someone who had repeatedly filed false certifications?
19) Has anyone, anywhere, lost their job as a result of signing false certifications?
20) Has anyone, anywhere, who signed certifications which are now known to be false, been inconvenienced in any way by the discovery that they had perjured themselves?