Newsflash: just found out after 2008 mortgage and banking crisis…Banks have the ability to adjust your mortgage whether adjustable or fixed. IT HAS TO DO WITH MORTGAGE SERVICE PROVIDER OF YOUR LOAN. PLEASE READ YOUR ORIGINAL MORTGAGE DOCUMENTS IF IT HAS ANY LANGUAGE THAT REFERENCES LIBOR OR BASEL. This was done to protect the too big to fail banking/Wall Street Crooks because they never pulled completely the Credit Default swaps and Derivatives off their books, these instruments are the Tares a fungus that looks like wheat (good business) LIBOR will be going away after 2021, which is the lending rates banks charge each other for quick loans. I mentioned earlier this rate has been steadily going up because they know they don’t trust each other and are all sly foxes in the chicken house. This language put in loan documents after 2008… I’m appalled Not Really;
Thomas Jefferson said “I believe that banking institutions are more dangerous to our liberties than standing armies," Jefferson wrote. " If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered." Mayer Rothschild of the famous banking family of England when England was dominant power stated “Permit me to issue and control the money of a nation, and I care not who makes its laws!” The real control and power brokers in New York City control the courts, the Fed, and Washington not to mention the Justice Department and all regulators. Go figure. We should all meditate on that amazing prediction of things to come that are not necessarily beneficial to the 99%-- but only to the 1%.
Basel III is part of the continuous effort to enhance the banking regulatory framework. It builds on the Basel I and Basel II documents, and seeks to improve the banking sector's ability to deal with financial stress, improve risk management, and strengthen the banks' transparency. A focus of Basel III is to foster greater resilience at the individual bank level in order to reduce the risk of system-wide shocks.
the first version of Basel III in late 2009, giving banks approximately three years to satisfy all requirements. Largely in response to the credit crisis, banks are required to maintain proper leverage ratios and meet certain minimum capital requirements.
So what does this mean, has the economy turns from bad to worse and Stagflation which we are in now turns to full scale depression and defaults soar your mortgage service provider has the ability to send you a letter that their serving cost as gone up therefore they are passing cost on to you...walla new increased payment in addition to your new tax and insurance hike.