In an effort to assist and promote home ownership and help the economic vitality of the State of Florida, Atlantic Enterprise Foundation, Inc. has been created as Non- Profit Organization. This organization’s primary focus is to create drawings and collect redemption monies that will provide not only a chance for current homeowners to regain economic confidence and to provide an opportunity for banks and property owners together recover financial losses. Banks will be able through our organization to raffle out the homes that they are in the process of foreclosing or that have already been foreclosed and consumers would have a chance to obtain or win a home for only a small price of a raffle ticket. All measures and steps have been made to ensure that once the amount of money is collected by ways of electronic sales that a winner shall be selected and lien holders will be paid in full thus creating a an economic stimulation to both banks and consumers alike. It is our intent to create an environment in which banks and consumers will benefit tremendously by our very own success and create a chance for everyone who desires a home in Florida to genuinely have one. We look forward to assisting banks and consumers redeem the profits and earnings that will help ensure the financial security of this great State of ours. With faith and resolve all things are possible and Atlantic Enterprise Foundation, Inc. is here for your assistance and benefit, providing homes for the people and creating stability in our financial sectors a combination destined for great success.God bless America

His argument is effectively the routes that allowed banks to evade state usury laws (a Supreme Court decision plus adept jurisdiction-shopping) may not extend to securitization trusts. And note this logic would apply to other types of securitizations, such as auto loans.

These aren’t mere academic questions. Securitization trusts hold around 60% of mortgage debt and 25% of other consumer debt. There’s no law directly on point, but if I’m correct, then usury could be raised as a viable defense to the collection of a sizable portion of consumer debt. And states would have pretty broad rein to regulate the collection of debts held by securitization trusts.

http://tinyurl.com/y8uydeb