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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Mario Kenny
AND since they do not exist, how come the IRS is not all over this yet?
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   One answer to your question might be that many of the so called "originators" are no longer in business, after folding the tent and moving
to "Bora Bora" with all the ill gotten loot they made by selling the same
Notes multiple times to multiple different investors in the CDO's.
    As the Taylor,Bean & Whitaker case shows, and as Lee Farkas testified
at his sentencing, selling the same Notes multiple times was common mortgage industry practice. In fact he justified it by saying the mortgage
documents permitted this practice. Apparently the Judge & jury in his case did not buy that argument.
    Recently, in a Quiet Title case I'm involved with in US Federal Court,
the defendant made a similar claim and pointed out the paragraph in the
mortgage which permits it. We have established that at least two entities
claim to own the same Note, so we are about to have some fun. Adding
to the fun is the fact the "originator" had no license to make mortgage loans
in Florida, (a third degree felony) and produced a phony license to justify
standing to make the loan in the first place.
    The most amazing part of this "fiasco" is that the defendant did not make
the loan, but they are admitting to something they did not do! Then they
are compounding the problem by submitting a "phony license" as evidence
in a Federal case.
     If the defendant had just admitted they did not make the loan and told
the truth, namely that some "fraudster" stole their identity and placed it
on the loan documents in order to make it easier to sell it on the secondary
mortgage note market, the whole case would be over by now and the unlawful lien removed from the property. Some lawyers are just plain dumb!
The IRS could have a field day if they wanted to really delve into this.

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texas
Hello Mario, long time no hear from, notice Will Robinson above.
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Mario Kenny
HI  J,

How are you doing?
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J

also, I do visit a website, Mario Kenny, http://mariokenny.wordpress.com/, and like the content......thanks! 

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texas
  Public right to free speech, just speak truth, justice and fact.

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Mario Kenny
I am new here so I do not understand how things work, but I DO NOT want ANY trouble AT all.
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q
Mario,

Did you find some authenticated evidence that these trust's don't exist that can be used in court, if so, please let me know.

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Mario Kenny
Hey Q u should listen to what T said. I am new to this forum and therefore I may not know what I am talking about. 
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q
I'm new too, if you find anything I'm all ears though. thanks.
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MSF Moderator
Welcome Mario and thanks for all you do and have done!  We are glad you are here, so make yourself at home. 

We also have a new volunteer to moderate the Forum starting tonight.

MSF
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Mario Kenny
Hello MSF mod, no, I thank you on behalf [ if I may ] of so many homeowners to whom you have provided cornerstone information, which have assisted so many people. Thanks for the welcome note. I feel that the whole situation is changing again and I do not know nor can I see where it is going next.
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Mario Kenny
I think this sort of ruling we have not seen yet, I find it very interesting
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bwssr
I looked at a trust and all the words were struck out in the prospectus. Why would they do that?
They get a bailout and we get the boot.
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MSF Moderator

US Bank Took Shortcuts With MBS Loan Docs: Suit

 An Oklahoma pension fund filed a putative class action against U.S. Bank NA on Thursday alleging the bank's shortcuts, including a failure to actually take possession of loan documents underlying mortgage-backed securities, cost the fund hundreds of millions of dollars.

Because the bank never actually transferred the mortgages notes on hundreds of underlying mortgages, investors are entitled to unwind the MBS purchase and reclaim their payments, according to the complaint filed by the Oklahoma Police Pension and Retirement System in New York federal court.

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Mario Kenny
OMG this is a classic, wow, this is getting so sweet. I think that if or when we find out the reason why the trust did not own the loans, we may be amused.
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