Is This Contract Valid? GE Money Wants To Reposses

[roony]

hi,

thanks for that, i found some posts pointing out how to find your mortgage in the prospectus, i'll post the links in a sec.

 

How did you find out it was Holmes? I'm just wondering if theres a definite way of finding out the company name to search for at FSA, for the prospectus.

 

I'll have a look at Swift Advances for you when i go back down to the fsa on monday.

 

If anyone else needs to find their prospectus at the FSA please let me know, i live quite close to the fsa & i've got a document scanner, i can scan to pdf, i'm more then happy to help.

Do you or anyone else happen to know the name for GE Money too btw?

 

SmarterChick what date do you need the prospectus for? As in what date was the property charge or title changed at the Land Registry? So i can find the correct prospectus for you.

 

thanks,

[Smarterchick]

You can find the details on Santander and Abbey prss releaes on their websites. They don't normally attract consumers to these pages, just investors, but it's there if you read through them.

 

However, having scanned Companies House for some of these companies I note that a number have recently been put into Members Voluntary Liquidation which begs the question of what happens to the securitised portfolios? I listed them here:

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/189177-smarterchick-securitisations-2.html#post2071984

 

Don't worry about my dates just now, I can pop into the FSA myself, but they told me I can only get Mutual society info...wot they got to hide I wonder by telling me that? I just need to know where these lists are so I can go digging.

 

SC

[roony]

hi,

heres the post for identifying your mortgage in a prospectus, anyone knows a better way, pls post here or let me know

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/170607-spml-london-mortgage-company-13.html#post2019262

 

 

Mutual society info? Why would they say that? arent they supposed to list all the companies?

 

Thanks,

Edited March 28, 2009 by roony

[the main man]

Try GE Capital UK Funding?

 

GE Capital to establish funding vehicles in Dublin: ThePost.ie

[roony]

I dont think its GE Capital, as GE Capital was sold in february,

 

"On 7th January 2009 GE Capital Bank Limited, which provides GE Money credit cards as well as store finance and auto business, was acquired by Banco Santander SA. As a result GE Capital Bank Limited will be part of the Santander group.

 

GE Money Mortgages & Secured Loans are still managed by GE Money and are not included in the acquisition."

 

 

 

GE Money Mortgages should still have the info.

 

Does anyone know under what name GE Money is listed on the stock exchange as?

 

Or known to the FSA as?, as the FSA fined them quite a few times, but theyre not listed with the FSA ...

[roony]

ok i think i found it, its listed as "GE Consumer Finance provides a variety of financial services to retailers and consumers in more than 50 countries. Also known as GE Money"

 

Can anyone confirm that is GE Money Mortgages?

[elizabeth1]

They call themselves GE Money Secured Loans Ltd on my agreement and on their court papers they call themselves the same too. But there are loads of companies that GE jiggle around with - these below are listed on companies house - so it's anyones guess isn't it?

 

02248981GE MONEY CONSUMER LENDING LIMITED

03542999GE MONEY DIRECT LIMITED

FC024743GE MONEY EMEA

03539318GE MONEY FINANCIAL SERVICES LIMITED

00592986GE MONEY HOME FINANCE LIMITED

03770763GE MONEY HOME LENDING LIMITED

05128880GE MONEY HOME LENDING FINANCE LIMITED

05128935GE MONEY HOME LENDING HOLDINGS LIMITED

05151632GE MONEY HOME LENDING INVESTMENTS LIMITED

05199179GE MONEY LENDING SOLUTIONS LIMITED

03770776GE MONEY MORTGAGES LIMITED

06438949GE MONEY ONE LIMITED

03553325GE MONEY PURPLE LOANS LIMITED

03860257GE MONEY SECURED LOANS LIMITED

03859120GE MONEY SERVICING LIMITED

06440028GE MONEY TWO

[roony]

From what i remember none of those are listed at the FSA, & i cant find any of them listed on the Irish Stock Exchange, so they all must be going through a single company or a couple of companies.

 

Can anyone shed some light on GE Money? Basically which company is listed on the FSA or the Stock Exchange which represents GE Money's shell companies.

[pkelly]

http://www.independent.ie/other/crunch-forces-kestrel-funding-into-asset-sale-1073829.html

 

 

The securities-arbitrage vehicle, Kestrel Funding, has the capacity to issue $50 billion of top-rated asset-backed commercial paper and medium-term notes in the U.S. and Europe. New York-based Brightwiter serves as its administrator and manages its investments, most of which are non-U.S. structured products rated above triple-B-plus.

 

Securitization.Net

Edited July 6, 2009 by pkelly

[pkelly]

From what i remember none of those are listed at the FSA, & i cant find any of them listed on the Irish Stock Exchange, so they all must be going through a single company or a couple of companies.

 

Can anyone shed some light on GE Money? Basically which company is listed on the FSA or the Stock Exchange which represents GE Money's shell companies.

Kestrel Funding plc has registered offices at Deusche International Corporate Servives Ireland LTD 5 Harbourmaster Place IFSC DUBLIN 1

 

http://www.ise.ie/debt_documents/kest_7729.pdf

 

Kestrel not sure if our wee bird is WestLB's second SIV. In 2004 it bought Rathgar Capital Management (Bermuda), the investment manager of the Rathgar Capital Corp SIV

WestLB's American subsidiary Brightwiter. Last December, WestLB said it would guarantee full liquidity to Kestrel Funding and Harrier Finance, two structured investment vehicles set up by Brightwiter

Although WestLB's asset-backed securities are mostly triple-A-rated, demand for them has dried up since last summer's crisis in the credit markets. The realization that so-called subprime loans from the United States had been packaged with investment-grade debt, re-rated and sold to investors all over the world led to a widespread loss of confidence in the debt markets, especially after foreclosures kept mounting and mortgage lenders began to close their doors.

 

The owners of West LB are set to pay out €2bn to help offset losses for last year at the German public sector bank and to absorb writedowns of about €1bn. The bank expects to report an annual loss of €1bn for 2007.

WestLB is lucky enough to have a state government in North Rhine-Westphalia which in December 07 issued a statement to guarantee that WestLB would be provided with appropriate capital if needed.

 

WestLB, based in Düsseldorf and one of the regional German banks, or Landesbanken, has two major programs, known as Harrier Finance Funding and Kestrel Funding, that borrow money by selling short-term commercial paper to investors. They then invest the proceeds in higher-yielding securities, including ones backed by American mortgages.

A similar principle underlies the so-called SuperSIV — formally known as the Master Liquidity Enhancement Conduit — proposed by Citigroup, the largest sponsor of such vehicles in the world. Together with Bank of America and JPMorgan Chase, Citigroup is proposing that up to $80 billion be devoted to buying up mortgage-backed securities and holding them until the market relaxes.

Its not as far to the top as everyone thinks?

I am not saying this is the same outfit but you never know,

Edited July 6, 2009 by pkelly

[pkelly]

oh just to try and explain what this siv business is

 

The letters S-I-V stand for structured investment vehicle

they are the main cause of this credit crunch, and sup prime mortgage melt down,

An SIV is a type of complex bond as so called low risk way for banks to finance credit cards etc, like all good ideas it snowballed.

to set up sivs banks BORROWED CASH they sold `commercial paper ` its like an IOU in funny money??

Investers buy this fully money or paper at a cheap rate, hoping to sell it back after a short period of time and get their money back without having paid interest.

Banks got greedy and wanted this quick buck and bought the likes of our contracts

but all grades of these loans or credit deal contracts were all threw into baskets. some were ok others no hopers.

so the bubble burst, unfortunatly its us that are paying, even bonus money to these critters

[Hackfleisch]

Heads Roll Over Shady Trades at WestLB

 

http://www.securitization.net/news/article.asp?id=364&aid=7337

Ja Richtig Kestrel Funding PLC (Kestrel) in 2006 March, in Ireland was registered as a SIV. so It able to issues CP and MTNs directly in Englisch & Europa markets. It is managed by Bright-water Capital Management, of West LB, in Düsseldorf Deutschland..Danke

Edited May 15, 2009 by Hackfleisch

[fmann]

Hi,

I went to the FSA, but couldnt find GE Money Mortgages listed, is it under another name?

 

I had a similar problem with Abbey National PLC, it only had a prospectus for 2006 & nothing onwards.

 

Speaking to the person at the document viewing room, he suggested i try Abbey National Treasury instead.

 

I found some prospectus's, but im not sure if theyre related to National PLC, i'll upload them later.

 

Anyone know what name i should be looking for GE Money Mortgages under to find the prospectus, as i cant find it in the FSA.

 

I found its not as easy as going down to the FSA if you want to find the prospectus for your securitised mortgage.

 

If anyone can help finding the prospectus, or suggest the name to search for GE Money Mortgages at the FSA, or for Abbey National PLC, would be much appreciated.

 

Thanks,

Roony

 

 

hi roony

am glad i have come accros your thread as i am persuing the same

i hope your are still doing the same, just wanted to inquire with you on the following,

i too had the mortgage with abbey from 2006, i found links to some securitization info on their site, but whether it directly relates to my mortgage is unkown AboutSantander | 2006

 

as you suggested in another thread that we should get the 395's

i found on companies house webcheck that they have record filings of all Holmes Financing no 1-9

which all have couple 395's may cost less than £10 to download all of them.i will be getting these asap as am close to companies house

 

am not sure if holmes are the actual trutees

but as tyou state in your other step by step post that the info from the holmes will contain the spv and then we get the 395's of the spv

 

then we check on InvestEgate, Company Announcements for the prospectus (what the a particular search info you have to enter)

 

then we go to 1.1 in the prospectus to find the 395's

 

download all the prospectus of the trustee and spv

up to 6 months + from the date of the mortgage

 

then search the prospectus for the title number of the mortgage

 

do a s425 request (please let me know what that is am not able to find the act under s.425) to see charges listed on 395 at spv premises

 

furthermore use cpr 31.16 to demand disclosure of mortgage transaction number and charges

 

than a good understanding to make a strong case in court

 

i hope this is not exhaustive

 

if you could confirm and correct if neccesary

 

kind regards