Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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A walk down memory lane

 

Does anyone remember Alan H. Fishman?  Mr. Fishman was anointed as the new CEO of Washington Mutual about three-weeks ago.  Last Thursday his tenure came to a screeching haut when WAMU crashed and burned and the pieced were picked up by CitiGroup.

 

Mr. Fishman gets to keep his signing bonus as well as his golden parachute for a total of just under 20-million.  Not bad for less then three-weeks work.

 

What does this have to do with mortgage servicing you ask?  Well, Mr. Fishman was brought in to save ContiFinancial (CFC) back in 2000.  CFC owned ContiMortgage Corporation.  In May of 2000 Conti filed Chapter 11 and a few months later Fairbanks Capital bought the servicing platform from ContiMortgage.  A few here may remember Conti.

 

http://www.foxnews.com/story/0,2933,428641,00.html

 

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4 justice now
The worst part of that sinerio is that there are many people out there that simply don't see anything wrong with that arrangement. With that sort of thinking, or lack there of, it's no wonder Bush quickly is leading America to  becoming one of the newest on the list of third world countries. 

My Opinion.

4J
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Been there with Conti

An oh..yes I remember it well.  However I feel Mr. Fishman is not so dumb.  He was hired for Conti, got big bucks when he left.  Now did the same with Washington Mutual.  Washington Mutual was bought out and so was he!  Does there seem to be a pattern here for Mr. Fishman??? 

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arkygirl
Thanks for pointing this out Way to Go.

This is the biggest problem with the game of "Hide the Lever" played by Wall Street and the government working in tandem against citizens.

Since we cannot find the lever we cannot flush the toilet. We are doomed to see the same ugly turds come floating to the top over and over again.

It reeks! Time to flush the toilet...NOW!

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