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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Long story...so please bear with me...I'm posting this here because someone on another forum suggested it might be MSF. I honestly don't know if they have "sold" my loan and are just servicing it or not... It is a construction loan (reporting as a mortgage) which is renewed every 6 months!

Two and a half years ago I started building my own home as my own GC. I hired a foundation contractor who ended up being a scumbag loser. Luckily, I had a GREAT contract which gave me the power to fire the guy after 3 months of horrible work. Caused me huge delays and money to fix his shoddy work. However, a few months after I fired him, he put a false lien on my house in an attempt to blackmail me into paying him whatever he asked (well over our contract amount). That case goes to court in February. My attorney assures me we will win - slam dunk. I have mounds and mounds of evidence....he has nothing but his own claims (which my attorney can prove he perjured himself in a pre-trial hearing....).

Anyway, because of this stupid lien...I cannot seem to get out from under a predatory lender who is holding my construction loan! I had several other banks qualify us for the construction loan, but turned us down after they found out about the false lien. My lender knows this....and knows we can't switch banks because of it.

This guy has been a real slime to work with... He refuses to pay my contractors on the agreed amount or takes FOREVER to release funds for materials or to pay contractors. He also has hit my credit with over 10 30-day "lates" in the last year....even though my payments were made within 30 days. For example - my interest payments are due on the 20th of each month. Here are some examples of what he has tagged my credit reports with as "late" -

12/20/07 payment - paid 1/4
1/20 payment - paid 2/1
4/20 payment - paid 4/28
6/20 payment - paid 6/25
8/20 payment - paid 9/5

Basically, I pay the payment when I get my paycheck... There are NO ROLLING LATES. Everything is up-to-date!

Also...we have $325,000 currently invested in our house. It is appraising for $600,000....so we are barely 50% LTV. Our construction loan came up for renewal in Oct. Now that we are within 2 weeks of finishing the house, the lender will not give us another dime to finish the house or renew our construction loan unless I do the following:

1. sign over title to BOTH my vehicles as collateral
2. sign over my property as collateral
3. sign over my horses & horse trailer as collateral.

Does this not raise a red flag to anyone else????? I totally do not trust this guy.... It's like he is actively trying to swindle me out of my house! If I do not agree to the following above, he says he will balloon payment my loans (full amount due within 30 days) and foreclose immediately....
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I wanted to add that we were not given copies of the paperwork we signed when the loan was renewed. I have asked for copies more than once. This last time, he finally sent me "copies" of the loan documents which do not bear our signatures but only state the terms of the renewal (amount, interest, etc...)
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