Phantom Collectors of Phantom Debt on behalf of Phantom Trusts

Mortgage servicers are collecting Phantom Debt on behalf of Phantom creditors by creating fabricated and forged documents.  Servicers counterfeit mortgage notes and pursue collection of this 'debt'- but who do they send the proceeds they collect to, if there is no true creditor or funded trust that can be identified, or can accept payments from the servicer?

It is now known that:

• The banks funded themselves instead of the trusts which never really existed (phantom trusts).
• The banks covered up their theft of investor money by originating or buying loans with investor money and not trust money.
• The theft has been the subject of settlements in which the owner of the debt --- the investors --- is paid off with cash and "resecuritization" in which actual loans were "sold" into a new trust (Like Zuni) by a party who STILL didn't own them (phantom sales).
• The proceeds of judicial and nonjudicial sales do not go to investors but back to the "underwriters" of nonexistent worthless certificates issued by nonexistent trusts that are registered nowhere and unfunded (phantom trusts).
• The underwriter acts as "Master Servicer" for the phantom trust and collects "servicer advances" that were neither advances nor from the servicer, but rather a return of investor capital even if it was OTHER investors.
• The "Trustee" of the Trust is not a Trustee either in writing nor in practice (phantom trustees).
• We know the banks are acting on their own behalf and not on behalf of the investors or the trusts.

What we still don't know- is where do the proceeds collected by the servicers from homeowners go- if there is no Trustee or Trust?  Neil Garfield, investigator Bill Paatalo and California Attorney Charles Marshall discuss the mystery of Phantom loans.