Senator Warren has been told of the larger financial crime and that is the Ginnie Mae pooled loans with the poster child is for the Great Foreclosure Scam in the history of mankind. Washington Mutual Bank (WaMu) who before Jul 31, 2006 mortgage servicing agreement with Wells Fargo Bank (illegal itself) set out to avoid the Ginnie Mae pooled loans from being seized by the bankruptcy court.
The reason Ginnie Mae requires that the Notes be endorsed in blank is that the banks cannot run off and sell the mortgage loans. WaMu sold its other assets before it was seized but the Ginnie pooled loan that Wells was servicing were already a part of the bankruptcy remote procedure, as per Ginnie rule the Notes were endorsed in blank and relinquished to Ginnie in order to participate in the MBS program.
Ginnie caught between a rock and hard place, allowed Wells to physically take possession of which does not allow the transferring of these blank Notes because they is not a purchase of the debt, so the Notes and debts are forever separated!