Mentioning privacy grounds, ACS denied to reveal any facts regarding the money to ProPublica, even with Reynoso’s complete concur

First, the bank out-of America loan: Almost as soon as Lender from America started it, the loan is actually ended up selling so you’re able to a good Boston-based team entitled First Marblehead, immediately following one of the greatest securitizers away from student loans. However, no place in the papers provided for the latest Reynosos and reviewed of the ProPublica does title Earliest Marblehead arrive. Instead, this new Reynosos have obtained records emblazoned into the symbol out-of National Collegiate Trust. That is the label Very first Marblehead gave so you can bundles regarding finance one they turned into Wall Road securities and you may marketed to people. Are Freddy’s loan bundled to the a security? Of course thus, who owns they today? Basic Marblehead has never returned frequent requests opinion.

Freddy Reynoso’s almost every other fund adopted a far more complicated path – and one tainted by the scandal.