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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The Georgia Supreme Court answered two certified questions today in the case You v. JPMorgan Chase Bank, N.A. and the outcome is as bad as it gets for distressed borrowers. In a unanimous decision of the Georgia Supreme Court, the Court threw all Georgia homeowners under the bus and blamed the legislature for the statutory scheme that allows foreclosure of Georgia security deeds by a private right of sale.

In answering the key question (No. 1) the Court held that a "current law does not require a party seeking to exercise a power of sale in a deed to secure debt to hold, in addition to the deed, the promissory note evidencing the underlying debt."

[i]You v. JPMorgan Chase Bank, N.A., No. S13Q0040 (Ga. May 20, 2013)[/b]

It seems unlikely that there are going to be many viable borrower causes of action in Georgia where the law is already stacked heavily in favor of the banks. This decision seems to pretty much legalize all remaining mischief!
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Opinion makes it easier for applying "fraud in factum."
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