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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WASHINGTON — The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released Thursday.

The big unknown for the coming months, however, is President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans. The Obama administration expects its plans to make a big dent in the foreclosure crisis. But it remains to be seen whether the lending industry will fully embrace it, despite $75 billion in incentive payments.

The faltering economy is causing the housing crisis to spread. Nationwide, nearly 804,000 homes received at least one foreclosure-related notice from January through March, up from about 650,000 in the same time period a year earlier, according to RealtyTrac Inc., a foreclosure listing firm. During the quarter, Ohio was the state with the seventh highest number of homes seeing foreclosure activity with about 31,600 receiving at least one filing, up 1 percent from a year earlier.

In March, more than 340,000 properties were affected nationwide, up 17 percent from February and 46 percent from a year earlier. Ohio had 12,600 homes receiving foreclosure notices during the month, 12 percent more than during March 2008.

Foreclosures "came back with a vengeance" last month and are likely to keep rising, said Rick Sharga, RealtyTrac's senior vice president for marketing.

Nearly 191,000 properties completed the foreclosure process and were repossessed by banks in the quarter. While the number was down 13 percent from the fourth quarter of last year, it is expected to rise through the summer and then possibly taper off.

Fannie Mae and Freddie Mac, the big mortgage finance companies, together with many banks had temporarily halted foreclosures in advance of Obama's plan. Now armed with the details about which borrowers can qualify, the mortgage industry has begun foreclosing on ineligible borrowers.

The Treasury Department has signed contracts with six big loan servicing companies — including Citgroup, Wells Fargo and JPMorgan Chase. Many have already started processing loans as part of the government's "Making Home Affordable" plan.

"We need to get the long-term solutions for these folks," Shaun Donovan, Obama's housing secretary, said in an interview.

In the coming months, Donovan said, there are still likely to be increased foreclosures, especially from vacant houses, second homes and those owned by speculators. None of those properties will qualify for a loan modification. However, he remained optimistic that overall foreclosures could start to decrease this summer.

But even industry executives who emphatically support the plan emphasize that it's success isn't guaranteed.

"The effectiveness of the plan overall obviously is going to depend on the level of industry participation," said Paul Koches, general counsel of Ocwen Financial, which collects loan payments on subprime loans.

Many borrowers and consumer groups claim the modifications offered by the lending industry don't do enough to help cash-strapped homeowners, despite more than a year of public prodding from regulators. Fewer than half of loan modifications made at the end of last year actually reduced borrowers' payments by more than 10 percent, data released last month show.

Plus, the lending industry has been swamped by the unprecedented wave of calls from distressed borrowers. "You can't wave a magic wand and make the loans suddenly modified," Sharga said. "They're all individual transactions."

In RealtyTrac's report, Nevada, Arizona, California and Florida had the nation's top foreclosure rates. In Nevada, one in every 27 homes received a foreclosure filing, while the number was one in every 54 in Arizona. Rounding out the top 10 were Illinois, Michigan, Georgia, Idaho, Utah and Oregon.


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   Great article! Just one more reason why everyone should participate in
the nationwide mortgage strike that is occurring right now, by sending in
only 50% of the principal and interest they say you owe.(Be sure to send
in the proper tax and insurance payment so they can't foreclose on you
for that as a separate issue, ie, cause of action).
    Yesterday's protests against the "Bank bailouts" were a great success,
and I'm sure Congress and the President heard us loud and clear. Now is
the time to call your loan servicer and ask for a "modification packet" as
the new rules appear to have been clarified. Remember, in this market
the homeowner is holding all the cards, because the servicers won't get
more than 50C/$ even if they do foreclose.
     When one considers the megabanks like Wells Fargo were able to buy
out other banks, like Wachovia for 5c/$ and make record profits this year,
let's make them share those profits with hard pressed homeowners by
forcing them to modify loans down to 50% of P&I.All it takes is guts and
negotiating skills. Let's sock it to 'em. One for all, all for one!
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did you see the comment about ameriquest sending out a letter stating that thanks to the gov they are happy to refinance people (so after all they did there back in business and got some bailout $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$)god bless this country did you happen to hear about obama the great agreeing with france that were arogant and pompass jerks?also or a/g said that americans are fat & lazy .also theres a woman i cant think of her name right now but shes on obamas crew she said that our greatest terrorist threat is from our GREAT AMERICAN VETS that return from war & the 911 insodent was a man made dissaster that its not right profiling and calling the muslims terrorist's this world is messed up when did we become the bad guys and whats wrong with our leaders.a talk show host on 96.9fm in ma was furious yesterday damming the obama gang ill get more info on this stuff asap
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Whose the real coward? Eric Holder!

by 22. February 2009 17:41

                A nation of cowards.

                That is what Eric Holder, the highest law enforcement official in the nation called the people of the United States of America, the constituents and tax payers who salute him as a representative of the American flag.

                Cowards. The context was race. But really that is an inane point.

Those words should never cross the lips of anyone who represents the stars and stripes; and certainly should not even be whispered in the same week that President Barack Obama sent 17,000 troops to Afghanistan to continue to fight this war against terror. They should not be whispered during a week that Massachusetts buried two troops who died on Iraqi soil. Should not be whispered a day after the remains of two men who were kidnapped, tortured and buried in a shallow grave were laid to rest in a single coffin at Arlington National Cemetery.

But Holder did not whisper those words. He bellowed them. Into a microphone. Despicable.

Especially when we consider that Holder is the real coward. Afraid that the money that thieves like Bernie Madoff and R. Allen Stamford stole from hardworking Americans by running Ponzi schemes that not only bankrupted local charities  but led this country into an economic crisis would be traced to big wigs in the Democratic party – like his boss, Obama.

Stanford was also a major political donor, giving money to scores of Democrats and Congressional delegates – including Obama.

And despite the monies they are accused of stealing and laundering on behalf of enemies of this country, drug dealers and underworld Mafiosi, both Madoff and Stanford are free men. Madoff is in his Manhattan penthouse; Stanford in one of his many mansions.

That’s because our Attorney General, Eric Holder, is a coward.

Democratic Congressman Patrick Leahy had it right when he said “I want to see people prosecuted,” and fought to have $75 million written into the economic stimulus plan to fund the hiring of additional FBI agents to help take down the white collar criminals whose actions have led this country into a catastrophic economy.  

Holder did nothing to fight for that funding and it was taken out of the budget. There was plenty of money for Acorn and Frisbee Parks and a cheerleader museum. Nothing to fund the criminal investigations into the people who created the chaos on Wall Street and the staggering unemployment lines.

Those are the actions of a coward: a coward afraid that the money stolen from Americans funded the campaigns of the cowards now leading the nation.

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    My belief is that we need to beware of "refinancing". It's better to do
a loan modification because the "Note" might be lost and if one refinances,
one is giving them a new "note" and this time they are sure not to "lose"
    When you do your loan mod, demand a 50% decrease in principal and
interest and stick to your guns. If they adamently refuse, take it to Court
and see if they have the "note". If they don't, you are in the "catbird"
seat with regard to negotiating a settlement. If they do have the Note,
you haven't lost anything that you wouldn't have eventually lost anyway.
     Another disadvantage of refinancing is that you have all those up-
front closing costs to pay again which eat up your equity. Personnally
I think all this talk of refinancing is a scam by lenders who know the old
"note" is lost, to get gullible owners to give them a "new Note" so then
they can foreclose in the future.
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Mike plz don't send me hate mail. But here goes.

In 07 I proved my 2nd lien holder had no standing to pursue me. The judge let them off. I believe the judge a bk judge didn't make them prove ownership of the 1st as well.  At least not the original paperwork.

I tried pointing this out. Did a sep suit and all. So far I've been made out to be a clown all for trying to get the truth out. People your better off if you can't pay just to file chp 7 not fight and walk away.

Trust me I know. I've taken my lienholder clients that could of paid my debt many times over. That doesn't mean they have to do business with anyone. Or that their honest.

It sure does suck though! I'd much rather be putting my bankers to use making us money to fight the rotten bankers! Believe it or not there are some good ones out there. But they just don't pay for no reason. There has to be a product and since about the end of 03 its all been a toxic mess...Exactly, what they've created...A nightmare for all of us. Who have any morals or a way to do something different.

Be blessed People! please consider your options wisely. I know some states are really helping but here in MO your just dammed for trying...
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The Equitable One

The laon mod offers I have looked at include such broad and sweeping "hold harmless" language that they literally strip all rights of a borrower for redress or relief for all bad deeds previous AND all bad deeds future. So loan mods are as bad, or worse, as refis.
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    Good point! What we have to do is take charge of the situation and not
allow the servicers to dictate the lanquage of the "loan mod" by putting all
this "lawyerees" hold harmless lanquage in the agreement.
     We need to remember that in a "downmarket" we the borrowers are in
the "catbird" seat, and we will do the "dictating", not them.
     In an up market, they could dictate to us, but in a downmarket we hold
all the cards because they really do not want the property back! They have
enough of them already.
     The final ace in our "hand" is the concept of "adverse possession" which
really needs to be explored if they want to be "hard asses" about the whole situation.
      As I've said many times before, "the only thing we have to lose are the
chains that bind us" so be bold!
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im going to try getting a loan on one of my homes that they say they allready have but cant prove to me (no note) ill let you all know what happens
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The only way to squash the real estate/mortgage cockroach is to boycott real estate entirely.

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Napolitano Comments on 'Right Wing Extremist' Report


Updated 4:51 p.m. ET
Homeland Security Secretary Janet Napolitano responded today to widespread criticism of a leaked domestic intelligence report that warns local law enforcement agencies to be on guard for right-wing extremist groups seeking new recruits amid the nation's economic troubles.

“Let me be very clear: we monitor the risks of violent extremism taking root here in the United States,” Napolitano said in a written statement issued by DHS. "We don’t have the luxury of focusing our efforts on one group; we must protect the country from terrorism whether foreign or homegrown, and regardless of the ideology that motivates its violence.”

The department's Office of Intelligence and Analysis distributed the report to state and local law enforcement on April 7. It regularly publishes intelligence analyses on domestic and international threats to the nation’s borders and infrastructure.

The report earned the furor of Republican lawmakers, conservatives and veterans groups because while it does not cite any specific threats, it states among other things that: “The possible passage of new restrictions on firearms and the return of military veterans facing significant challenges reintegrating into their communities could lead to the potential emergence of terrorist groups or lone wolf extremists capable of carrying out violent attacks.”

“To characterize men and women returning home after defending our country as potential terrorists is offensive and unacceptable,” House Minority Leader John Boehner (R-Ohio) said in a statement. “The Department of Homeland Security owes our veterans an apology.”

American Legion National Commander David K. Rehbein sent a letter to Napolitano, calling the report incomplete and politically biased. The secretary plans to meet with Rehbein next week when she returns from a series of trips, according to her statement.

Aides said privately that the secretary regrets that critics have construed the report's language to suggest that the department perceives a threat from veterans, noting that the department's various agencies employ thousands of military veterans and that some of Napolitano’s deputies once served in uniform.

“We are on the lookout for criminal and terrorist activity but we do not -- nor will we ever -- monitor ideology or political beliefs,” Napolitano said. “We take seriously our responsibility to protect the civil rights and liberties of the American people, including subjecting our activities to rigorous oversight from numerous internal and external sources.”

The intelligence report had been in the works for more than a year, according to DHS spokeswoman Sara Kuban.

"It has an unfortunate title to it and that's why it's catching attention," she said.

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