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The Royal Bank of Scotland is a nationalized bank in the UK; 82% of its shares are owned by the British public following a bailout of RBS by that same British public. And although its CEO, Stephen Hester, receives a £1.2m salary, he was recently awarded a £963,000 bonus in shares. This led to an […]

Who Owns Your Mortgage?

A fellow named Dan Edstrom wanted to track his mortgage, and fortunately, he’s in the right profession: He performs securitization audits (Reverse Engineering and Failure Analysis) for a company called DTC-Systems. The following flow chart reverse engineers the mortgage on the Ekstrom family residence. It took Dan over one year to take it this far […]