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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
ABC News "Demystifying the Mortgage Process" aired last night at 6:30p EST. Prof. Katherine Porter gets it...Others need to listen..



Let me re-iterate - TO DATE, I HAVE SEEN NO HARD COPY, QUANTIFIABLE EVIDENCE THAT LENDERS/NOTE HOLDERS LOSE MONEY ON FORECLOSURES. THAT IS BECAUSE ALL "FEES" ASSOCIATED WITH FORECLOSURE ARE CHARGED TO THE BORROWER WHICH HELP EAT UP EQUITY IN A PROPERTY. AND IF EQUITY IS NOT ENOUGH SOME STATES ALLOW FOR DEFICIENCY JUDGMENTS AGAINST BORROWERS. 
 
When you factor in the insurance policies on the trusts, pmi insurance, etc. there could be triple or quadruple dipping happening on any given loan once it becomes "non-performing" due to either "natural" or "manufactured" means.
 
Mike Dillon
http://www.getdshirtz.com
Quote 0 0
Ohio
Great story!

They said they looked further into this because of all the emails they received.

At the end of the clip they invited more emails....I'm sure all of us will be happy to drop them a line.
Quote 0 0
Write a reply...