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
Joan B
For months, I've tried to figure out why the loans were transferred from BAC to the parent company. This might be the answer, or at least part of it: the parent company is insured by the FDIC.

Bill Black explains. 


Disclosure: I have nothing to do with these sites, nor the donation request at the end of this video.


Quote 0 0
BobbieF
Back in October of 2010 BoA announced they were splitting their bank.  The
'good' loans were going with BoA NA, and the bad loans were staying with
BoA Home Loan Servicing LP. This was their intentions to clear up the bad
loans and get them off of their books. That failed. So in the spring of 2011
they announced they were selling off Countrywide/BoA Home loan services LP.
They couldn't find a buyer during the summer, so now the loans held by BoA
Home Loan Services LP are being brought into the main fold of the bank,
BoA NA. One of the consequences of this is the thousands of layoffs now
happening at the bank.

Quote 0 0
Write a reply...