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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Ed Cage
If you got a beef with Bear Stearns, Ed's your guy. Here's a jump start on some of his various postings.

Let's talk some more about Bear Stearns here. This is a good primer about what happened to one guy who lost $9K (I think I read $9k right), and his efforts to bring them to justice!

Ed seems to be hot on their trail, and is letting everyone know about it. Go get 'em Ed!!

Enjoy!!

http://www.flippingfrenzy.com/2007/08/31/president-bush-addresses-real-estate-and-mortgage-fraud/

Great comments especially from Nick Ramirez. I have periphreal knowledge that Argent has a dreadful reputation for mortgage fraud, but my limited research so far has indicated AMC/Ameriquest and EMC and Bear Stearns are as fraudulent as anyone. Especially Bear Stearns who specializes in lies, stalling, fake documents, more lies, and Gestapo like collection tactics on the underprivileged, uneducated, minorities, and elderly. Bear Stearns is known as the Satan of mortgage fraud in America. But here’s a letter I just wrote to ACC/Ameriquest/AMC: Some claim they are the worst:
- - - - - -
Eileen Driscoll Rubens
Senior Counsel
ACC Capital Holdings Corporation
100 Town & Country Road Suite 1200
Orange CA 92868

10-19-07

Ms. Rubens sincere thanks for your Oct. 15, 2007 letter which I received today. That’s
one step for credibility and valid communication efforts. I will give you credit for that
if/when my lawsuit or class action against Ameriquest/AMC/ACC/Citigroup actually occurs. However you are in error if you believe there is a valid excuse for sending an incorrect
“Interest Paid” 1098 form.

1) The “error” was actually a criminal attempt by AMC to illegally defraud both me as well as EMC Mortgage Services of all people. It was perpetrated by AMC Assistant to the President James Brantley. It was hardly an “error” Ms. Rubens. It was a crime designed to benefit from a clerical error I had made on one of the many “Principal Only” checks I have sent in currently totaling about $40,000 in “principal only” payments. I inadvertently wrote “Interest Only” rather than “Principal Only” on a $1,000 check and AMC’s Brantley immediately seized upon the clerical error as a way to cheat both me and my wife as well as their long time partner in crime, EMC. He promptly “sold” our note to EMC, cheating both of us. Intentionally and by design I might add.

2) Although the bogus 1098 form from AMC actually helps me, I cannot set an example to the people online I am posting advice to on how to handle fraud and suspense account illegal tactics by AMC/Ameriquest and Bear Stearns/EMC mortgage if I too become dishonest.

3) Errors are easily reversible. If you don’t know that, you should know that Ms. Rubens. Why do you think $800 million in Bear Stearns assets were seized by Merrill Lynch? Why do you think Ameriquest/AMC Brantley et al were hit with an estimated $400,000,000 judgment? These are large reversals. This one is $1,000 but don’t think I won’t take action. Fedler made that mistake and look where he is right now.. This is a benchmark case here; I am posting the results online along with examples of mortgage fraud, deception, seemingly endless lies, and creative stalling tactics by the above mentioned firms.

4) You are also grossly mistaken in your apparent belief that this adjustment has since occurred. It has not. That’s why Bear Stearns and specifically Greg Fedler are unable to supply any documentation of that adjustment Fedler claims was “already made.” It never occurred.

5) That’s also why you ACC/Citigroup/AMC/Ameriquest as well as Town & Country also have no supporting documentation of the correction you seem to believe has already been made. It has been dealt word service by AMC and EMC and BSC, but nothing has been done. Except for yet another attempt at mortgage fraud by crediting the $1,000 on November 8, 2005 (Not even the correct date of May 3, 2005!!) then incredibly reversing out the same credit the same day. I can document what I say, you can’t Ms. Rubens. And that’s the DIFFERENCE. This is a final demand for a corrected 1098 from AMC. Just because AMC is bankrupt and defunct facing an avalanche of lawsuits and criminal charges, is no excuse for not at least correcting the paperwork, on the crime that AMC and James Brantley committed in May of 2005. There is no statute of limitations on fraud Ms. Rubens.

Respectfully and thanks again for your professional courtesy,

Ed Cage

But wait there's more!!
http://www.topix.com/forum/us/T7SD7L4F9H534BHNV/p48
Kathy here's a partial update on inflated "appraisals":

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"California appraisers say they're pushed to inflate home prices
Carolyn Said, Chronicle Staff Writer

Saturday, November 3, 2007


Ask any real estate appraiser: Being badgered to overstate home prices is a fact of life, they'll say.

"We get pressured every single day to inflate our values," said Dan Tosh, principal at Tosh & Associates, an appraisal firm in Brentwood. "We get people telling us we'll never work again, or they won't pay us because we won't play ball."

New York's attorney general sued a leading appraisal management firm Thursday, saying it had knuckled under to a big bank's pressure to pump up home prices. The practice might have helped fuel the current mortgage crisis and the dramatic home price appreciation of the past few years.

Many real estate experts say appraisal inflation is pervasive in an industry in which pressure to close deals is all-consuming.

"This makes things such as Enron and WorldCom look small by comparison," said Ted Faravelli, executive director of the California Association of Real Estate Appraisers and principal at San Jose's T.E. Faravelli & Associates, an appraisal firm. "It was an epidemic."

In a nationwide survey released early this year, 90 percent of 1,200 appraisers said they had felt "uncomfortable pressure" to adjust property values. Mortgage brokers were named as the most common culprits, followed by real estate agents, consumers, lenders and appraisal management companies. The increase in pressure was dramatic compared with that found in a similar survey in 2003, when 55 percent of appraisers reported feeling pressured.

"Pressure on appraisers reaches pandemic proportions," said David Hutton, senior editor at October Research Corp., the Ohio company that conducted the study. "The New York lawsuit ... may be just the tip of the iceberg."

Appraisers are hired by mortgage brokers, bankers, real estate agents and home buyers as independent experts to give an informed analysis of a home's market value. Home loans, for both sales and refinances, rely on appraisals to assure lenders that the home is enough collateral for their money.

Appraisers, who make a flat fee of anywhere from $200 to $500 for a job, do a walk-through of a house and research recent local sales of comparable properties and then write a report on their opinion of the home's market value. Appraisers are licensed by the state and must complete relevant coursework and accumulate sufficient experience to earn the highest level of licensing.

fraud cases we're uncovering, the linchpin of most of the fraud is a doctored or questionable appraisal," said Tom Pool, a spokesman for the California Department of Real Estate. "It's a fairly common scam for properties to be overvalued and then purchased at an inflated price, with the difference coming back to the real estate broker or others involved in the scam."

The case filed in New York may have a smoking gun: The attorney general's office uncovered e-mails from the appraisal firm First American eAppraiseIT that appeared to discuss pressure from lender Washington Mutual to pump up prices.

A California law signed and implemented just last month makes it a crime for anyone with a vested interest in a real estate transaction to try to coerce an appraiser.

Pumped-up appraisals "create what I call phantom equity," Faravelli said. "Appraisals are arguably the easiest part of the entire process to tweak. After all, it's just an opinion, and everyone has one."

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Submitted by Ed Cage
Plano Texas
ecagetx@tx.rr.com
joe
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Report Abuse
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#986
Monday Nov 5
 
F orever EMC are the crooks we know.
U ltimately we will win in the courts
C an we ever get our credit repaired
K ick their buts Ed Cage, whoever you are

E MC is the devil of the mortgage world
M ay we all get justice
C an we all sleep tonite, EMC must die.
Ed Cage
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Report Abuse
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#987
Tuesday Nov 6
 
joe wrote:
F orever EMC are the crooks we know.
U ltimately we will win in the courts
C an we ever get our credit repaired
K ick their buts Ed Cage, whoever you are
E MC is the devil of the mortgage world
M ay we all get justice
C an we all sleep tonite, EMC must die.
Well said Joe and my real name is Ed Cage of 1804 Cross Bend Plano Texas. The phone number is listed and my email is ecagetx@tx.rr.com

Joe I am currently trying to bring mortgage criminals like James Brantley (a known felon) of Citi Residential and Greg Fedler of Bear Stearns / EMC Mortgage to justice. The worst of the bunch Greg Fedler, is in my back yard in Lewisville Texas and the infamous James Brantley formerly of the failed Ameriquest / AMC mortgage crime machine was incredibly hired by Citi Residential. Citi apparently wants to expand their mortgage fraud rip-off operation. Why else would ANYONE hire Brantley?

Joe I need examples of illegal abuse. I am especially focusing on "Suspense accounts" and "Corporate advance funds" that are widely used by illicit mortgage fraud perpetrators like EMC aka Bear Stearns, the *Satan* of criminal mortgage fraud. Contact me personally or better yet do it on this forum so others can benefit.

Regards,
Ed M. Cage, Plano Texas
Need Help in Nevada
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Report Abuse
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#988
Tuesday Nov 6
 
Recently, we signed a settlement class action lawsuit against Ameriquest Mortgage Co.. It made me go back through the 300+ pgs of loan docs and realized our interest only loan would double in payments in 2009. At the time we thought we were getting a interest only loan that would become fixed in 2 years and remain the same because our former broker lied to us. It was a rush rush thing and being niave to the mortgage industry we should of known something was not right. And it wasn't due to the class action lawsuit. Our loan was sold immediately to EMC Mortgage within a month. Our Senator Harry Ried has advised all homeowners at risk to call their mortgage companies and ask to renegogiate the terms. I did so because my family and I are at risk of losing our home in 2009. When I called EMC they said they could not do anything for us due to them not being licensed in Nevada (legal?). They said that I would need to go to another mortgage company and refi.. The problem is we owe 332000 on our house and EMC refused to take off the 2 year $8000 prepay penalty which would make our payoff 340,000. Our house is not worth that much.
This all seems illegal to me in the sense they have our loan but are not licensed in Nevada. My next step is to contact the hope foundation and maybe an attorney. If you have any advice I would really appreciate it.
Ed Cage
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#989
Tuesday Nov 6
 
Tig, thanks for your email. I have seen and visited http://www.msfraud.org
but I don't recall posting there. I think I tried but couldn't break the code. Perhaps you can help me post there if I can't easily do it or figure it out.

TIG I WANT ANYTHING AND EVERYTHING ON MORTGAGE FRAUD YOU CAN GIVE ME.

I'm trying to focus on these "suspense accounts" and "corporate advance funds" where illicit charges and inflated charges exist. This is a primary methodology used by Citi Residential, Bear Stearns aka EMC, Ameriquest, AMC et al. to cheat their unsuspecting customers and force them (illegally) into premature foreclosure. I am currently trying to bring the biggest mortgage fraud perpetrator and outright liar in America Greg Fedler of Bear Stearns to justice. Next is known mortgage fraud felon James Brantley who Citi incredibly hired to expand their mortgage fraud operations designed to exploit the more vulnerable mortgage holders and cheat their own investors as well. Brantley was largely behind the failures of both Ameriquest and AMC Mortgage and his illegal tactics were in no small part responsible for the $400,000,000 judgment Ameriquest was hit with for fraud.

It is *amazing* that Citi Residential would hire a known mortgage felon like James Brantley of Orange California.

If you don't mind I will post this email to you under:
http://www.topix.com/forum/us/T7SD7L4F9H534BH...
where others can benefit. I will refer to you as "Tig" and I would really like to see you post here as well because it sounds like you may know more than me.

Tig the only way to stop this is to put these rip-off criminals out of business. EMC, Ameriquest, and AMC Mortgage are already defunct out-of-business. Bear Stearns is on life support in the mortgage fraud business and will soon be out of business in that area as well. Additionally criminals like James Brantley of Citi and Greg Fedler of Bear Stearns who are both currently being criminally investigated must be indicted and convicted for their crimes.

Regards and thanks,
Ed Cage, Plano Texas, ecagetx@tx.rr.com
Ed Cage
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#990
Tuesday Nov 6
 
See:
http://financialservices.law360.com/Secure/Vi...

---- ON:----
"With CEO Heads Rolling, Lawyers May Be Next

With executives dropping off like flies in the financial-services industry, many lawyers are wondering if corporate counsel are the next casualty of the meltdown in the subprime mortgage industry."
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The SEC is investigating criminal violations by Merrill Lynch regarding their subprime mortgage misdeeds and fraudulent valuations. Citi group is also under criminal investigation but has elected to hire infamous arch mortgage fraud perpetrator James Brantley as their mouthpiece. Translation: In a sophomoric ruse known mortgage fraud felon Brantley was hired as a protective buffer to insulate the Citi hierarchy from wrong doing. Citi hopes that the "Who me?" answers from their upper management will fool everyone.

Unfortunately for Citi nobody will be fooled by the now legendary outright lies of James Brantley who led both AMC and Ameriquest to historic amounts of litigation, criminal investigations and financial collapse. Brantley's well paid job entails throwing himself on his sword and perhaps ***going to prison to protect the Citi hierarchy***

The only mortgage fraud criminal worse than Brantley is Greg Fedler of Bear Stearns (EMC) infamy.

Ed Cage, Plano Texas, ecagetx@tx.rr.com
Ed Cage
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Tuesday Nov 6
 
Need Help in Nevada wrote:
Recently, we signed a settlement class action lawsuit against Ameriquest Mortgage Co.. It made me go back through the 300+ pgs of loan docs and realized our interest only loan would double in payments in 2009. At the time we thought we were getting a interest only loan that would become fixed in 2 years and remain the same because our former broker lied to us. It was a rush rush thing and being niave to the mortgage industry we should of known something was not right. And it wasn't due to the class action lawsuit. Our loan was sold immediately to EMC Mortgage within a month. Our Senator Harry Ried has advised all homeowners at risk to call their mortgage companies and ask to renegogiate the terms. I did so because my family and I are at risk of losing our home in 2009. When I called EMC they said they could not do anything for us due to them not being licensed in Nevada (legal?). They said that I would need to go to another mortgage company and refi.. The problem is we owe 332000 on our house and EMC refused to take off the 2 year $8000 prepay penalty which would make our payoff 340,000. Our house is not worth that much.
This all seems illegal to me in the sense they have our loan but are not licensed in Nevada. My next step is to contact the hope foundation and maybe an attorney. If you have any advice I would really appreciate it.
Dear Mr. Need:
This is so typical of Bear Stearns aka EMC. Defrauding customers is a way of life at Bear Stearns (EMC) and it's why EMC is out-of-business although they may duck that question. I'd like to get particulars from you then we can post the right way to go on this forum so others can benefit. A number of things you said sent up a red flag. We need to discuss.

I almost never recommend an attorney at this early stage.. Keep in mind at BS/EMC you are dealing with mortgage fraud criminals (not all of them mind you) but when you get to the decision makers Bear Stearns does not have a single person who is forthright, honest, or objective. Try to avoid “customer advocate" (har-har) Greg Fedler at all costs. Fedler is the most dishonest person I have ever encountered and is currently under criminal investigation. If this guy made a hole in one on the golf course he'd put down a "0" instead of a "1." Fedler is a rare person indeed with no sign of a conscience whatsoever. He is currently under criminal investigation.

Refinance with another company? Sounds good until you discover BS (EMC is defunct) will illegally clip you for about $10,000 on your way out the door.

You can get my listed phone number by looking up
Ed Cage, 1804 Cross Bend Rd., Plano Texas
ecagetx@tx.rr.com
PS: It's very long range but you may wish to consider the James Hoyer law firm in Tampa Florida. You can Google them up or call 1-800-651-2502. They are building a class action lawsuit against EMC to help bring them to justice. They know all the Bear Stearns / EMC tricks, or at least most of them. This BS/EMC entity is as corrupt of a registered company as there is in America Mr. Need.(No kidding) If you leave early they will cheat you out of more money as you leave. Guaranteed.
Ed Cage
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#992
Tuesday Nov 6
 
More Bad News for the Leader in Mortgage Fraud: Bear Stearns
Investors Want Control Of Failed Bear Stearns Fund

See:
http://financialservices.law360.com/Secure/Vi...
---- ON:----
"Wednesday, October 31, 2007
View in Securities Law360, Financial Services Law360
A group of investors that lost money in one of the Bear Stearns hedge funds that imploded over the summer has launched an effort to take control of the fund's management.

Investors Want Control Of Failed Bear Stearns Fund
Portfolio Media, New York (October 31, 2007)--A group of investors that lost money in one of the Bear Stearns hedge funds that imploded over the summer has launched an effort to take control of the fund's management.

The investors are focused on the “Enhanced Leverage” fund, one of two Bear Stearns funds that took a high-profile nosedive earlier this year after bad bets in the subprime mortgage market. The group is looking to replace the Bear Stearns management with FTI Capital Advisers, an arm of FTI Consulting Inc."
---- OFF ----

Submitted by Ed cage
Plano Texas
Ed Cage
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Tuesday Nov 6
 
Ed Cage wrote:
Tig, thanks for your email. I have seen and visited http://www.msfraud.org
but I don't recall posting there. I think I tried but couldn't break the code. Perhaps you can help me post there if I can't easily do it or figure it out.
TIG I WANT ANYTHING AND EVERYTHING ON MORTGAGE FRAUD YOU CAN GIVE ME.
I'm trying to focus on these "suspense accounts" and "corporate advance funds" where illicit charges and inflated charges exist. This is a primary methodology used by Citi Residential, Bear Stearns aka EMC, Ameriquest, AMC et al. to cheat their unsuspecting customers and force them (illegally) into premature foreclosure. I am currently trying to bring the biggest mortgage fraud perpetrator and outright liar in America Greg Fedler of Bear Stearns to justice. Next is known mortgage fraud felon James Brantley who Citi incredibly hired to expand their mortgage fraud operations designed to exploit the more vulnerable mortgage holders and cheat their own investors as well. Brantley was largely behind the failures of both Ameriquest and AMC Mortgage and his illegal tactics were in no small part responsible for the $400,000,000 judgment Ameriquest was hit with for fraud.
It is *amazing* that Citi Residential would hire a known mortgage felon like James Brantley of Orange California.
If you don't mind I will post this email to you under:
http://www.topix.com/forum/us/T7SD7L4F9H534BH...
where others can benefit. I will refer to you as "Tig" and I would really like to see you post here as well because it sounds like you may know more than me.
Tig the only way to stop this is to put these rip-off criminals out of business. EMC, Ameriquest, and AMC Mortgage are already defunct out-of-business. Bear Stearns is on life support in the mortgage fraud business and will soon be out of business in that area as well. Additionally criminals like James Brantley of Citi and Greg Fedler of Bear Stearns who are both currently being criminally investigated must be indicted and convicted for their crimes.
Regards and thanks,
Ed Cage, Plano Texas, ecagetx@tx.rr.com
Send what information to? I apologize Tig, I get numerous calls/emails. Of
course I'm familiar with you but not the "send information" to what address
question.

You are on the right track. I have posted about 50 times on
http://www.topix.com/forum/us/T7SD7L4F9H534BH...

You can read them and I think you'll feel good about me but you are 100% correct to be cautious.
About 40% of my story is posted on
http://www.topix.com/forum/us/T7SD7L4F9H534BH...
and previous pages.

I want to nail them because they owe me about $9,000 in actual damages. But I really want punitive damages as well.

Also VERY IMPORTANT: I want to help other victims.

If you lay in bed and say "THEY ought to do this" or "THEY ought to do that." You'll go nowhere. It is up to law-abiding citizens to bring criminals like James Brantley of Citi and Greg Fedler of Bear Stearns to justice. I am making headway and I'd like to think I am at least partially
responsible for a number of them already being criminally investigated. Huge fines, possible jail time if there were prior convictions, disbarment for EMC Chief Counsel Eileen M. Smyth, etc , etc are necessary to deter future blatant criminal acts. Ameriquest, EMC, and AMC Mortgage are all out of business. Bear Stearns (Wall Street and Mortgage sections) will also soon
fail. That's four less criminal mortgage fraud firms and a half dozen individuals that are out of the mortgage business or soon will be.

NUMBERS, honesty and tenacity are my long suits. I retired early but I have been doing this sort of thing all of my life. "This sort of thing" refers to trying to correct social injustices.

I'd LOVE to see your examples Tig.

Warm regards and never ever give up on bringing these *criminals* to justice!- A worthy cause.

Ed Cage
1804 Cross Bend, Plano Texas 75023
ecagetx@tx.rr.com
Ed Cage
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Tuesday Nov 6
 
First Citi makes the business blunder of the decade by hiring arch mortgage fraud criminal James Brantley of Ameriquest/AMC infamy and now this:
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"Citi May Have a New Mess on Its Hands
BusinessWeek - NOVEMBER 12, 2007

Now, the bank could take a billion-dollar hit from bad debt tied to the CDO commercial paper market

One of the most maddening aspects of the current credit-market crisis has been trying to get a handle on the off-balance sheet liabilities at Citigroup (C ), which has already disclosed a $1.6 billion hit from exotic debt investments. In this accounting shadowland, nothing is certain. Yet a document analysis by BusinessWeek suggests that Citi may face a fresh billion-dollar exposure because of financial obligations tied to the commercial paper market, a critical source for short-term financing.

At issue are those wretchedly named collateralized debt obligations (CDOs), entities that issue securities often backed by subprime mortgages pooled in tranches and sold to investors based on their risk tolerance. These culprits exploded on Merrill Lynch's balance sheet and cost Stanley O'Neal his CEO job. However, the critical issue here is Citi's exposure through financing commitments to about a dozen CDOs, including three managed by executives of the Bear Stearns (BSC ) hedge funds that cratered this summer amid the subprime meltdown. Citi garnered fees from underwriting these investments, but it also agreed to cover nearly 90% of the financing backing for the CDOs if the commercial paper market seized up—and the asset-backed segment pretty much has.

Just to be clear: This exposure by Citi is a separate matter from other arcane financial products in the news called structured investment vehicles, investment pools that also use short-term funding. Citi has a huge stake in the success of a proposed $80 billion SIV megafund to resuscitate that market. Citi set up many SIVs, yet has no clear legal obligation to cover losses.

However, this dozen or so CDOs in question could cost Citi dearly in the form of writedowns and future earnings hits. An estimate, based on the free fall in asset prices that whacked Merrill's CDOs and the hits some SIVs have taken, suggests Citi could face a $1 billion or so loss. That number assumes that the value of securities backing the $20 billion has fallen 15%.(That's conservative, given the 20% and 30% declines reported by others.) Do the math, and you get a $3billion loss. Citi's commercial paper obligations cover the most senior tranches of these CDOs. Citi is on the hook for any losses above $2 billion, leaving the potential $1 billion exposure."
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Submitted by Ed Cage of Plano Texas
Ed Cage
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#995
Wednesday Nov 7
 
Citi Residential of the Citigroup umbrella stunned mortgage insiders with their bold and blatant hiring of arch mortgage fraud criminal James Brantley of Ameriquest infamy. Now today November 7, 2007 even more bad news comes regarding Citi in their ever tightening downward spiral after hiring Brantley.
--- ON:---
"FINANCIAL SERVICES LAW360
THE NEWSWIRE ON FINANCIAL-SERVICES LAW AND POLICY

Citigroup Faces ERISA Suit On Subprime Write-Down
Just one day after Citigroup Corp. disclosed that it would take an $11 billion hit due to subprime mortgage exposure, the bank's current and former employees have taken action, filing a lawsuit against the ailing Wall Street firm alleging violations of the Employment Retirement Income Securities Act."
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Submitted by Ed cage of Plano Texas (Phone number listed)
ecagetx@tx.rr.com

Billy Shoehorn
Wednesday Nov 7
 
Mr. Ed Cage,

Since you seem so knowledgable about mortgage companies and mortgage fraud, who would you suggest that I get a mortgage with to buy a house?
Ed Cage
Thursday Nov 8
 
Billy Shoehorn wrote:
Mr. Ed Cage,
Since you seem so knowledgable about mortgage companies and mortgage fraud, who would you suggest that I get a mortgage with to buy a house?
Billy a good question indeed but make sure you understand I'm not nearly as smart as you seem to think..

(Talking like I know more than I really do but here goes Billy)

If I were doing it over I would not have been lured into going with the lowest possible interest rate although I made sure it was fixed. I thought we were safe with Town & Country and a good low rate and boy was I wrong. Presto we were sold to AMC which was being run by the second most corrupt mortgage fraud criminal in America that I know of, James "$400 million judgment" Brantley and the now defunct AMC scam machine. BTW after both Ameriquest and AMC both folded well known (unconvicted as of 11-8-07) mortgage felon James Brantley was astonishingly promptly hired by Citi Residential!!! Which tells us Citi wants to get back in the black via the criminal fraud to customers and investors route. Brantley is also skilled at lying to customers, the media, law enforcement types and investors.

ANYWAY I would have gone with my old mortgage firm Chase Bank with whom we paid off our first mortgage at a rate 2 points higher. Chase Bank (Judy Blanton was our mortgage loan officer) was *honest* with us. The other choice could have or should have been our bank (Legacy Bank of Texas Phil Dyer) where we have checking, savings, and IRA experience and they have been with us for many years also without the slightest hint of any problem. However they too offered a slightly higher rate. Unfortunately I made a colossal mistake and went with "lower rate but dishonest" Town & Country.
A good question Billy and one I have asked myself many times.
**********
Bottom line: In today's climate seek integrity first.
**********
I made the mistake of thinking I was too numbers savvy to be exploited by criminals. After Town & Country, AMC "sold" our note to EMC then folded due to criminal fraud. EMC also is out of business due to an avalanche of litigation for fraud so we are currently stuck with the *Satan* of criminal mortgage fraud,(gULp) Bear Stearns mortgage scam unit. Nobody could ever be worse than Bear Stearns and I blame myself Billy. The good news is that the Bear Stearns mortgage scam unit is on life support due to defrauding both their investors and customers and will collapse in my estimation within 75 days primarily due to the upcoming judgments over the next 2-3 years against EMC (Also out of business). BSC of NY will have to cover “National Debt” size judgments against EMC.

MR ;^D
Ed Cage
1804 Cross Bend, Plano Texas 75023
(Phone number listed)
ecagetx@tx.rr.com
Ed Cage
Thursday Nov 8
 
MORNINGSTAR NEWS
--- ON:---
"Investors In Defunct Bear Stearns Funds Seek Control

NEW YORK -(Dow Jones)- Investors in two highly leveraged Bear Stearns Cos.( BSC) hedge funds that went belly up in the summer are taking an unusual tack in an effort to probe possible wrongdoing in the fund's operations, said a person involved with the effort.


Investors who lost about $650 million in the Bear Stearns High-Grade Enhanced Leverage fund, known as Hegel, are scheduled to vote at Bear Stearns headquarters in New York on Nov. 7 and in London on Nov. 14 on whether to install a forensic accounting and restructuring firm in place of Bear as controlling party.

More than 10% of investors in two so-called feeder funds have petitioned for the change, setting up the vote, the person said. If more than 50% of investors, as measured by capital invested in Hegel, approve, Bear will be replaced as controlling party by FTI Capital Advisors, a broker-dealer subsidiary of FTI Consulting Inc.(FCN) in Washington, D.C.

Lawyers at Reed Smith and some other firms representing institutional investors in the funds have complained that Bear is not cooperating in providing information on the names of all investors or on the activities that led to the funds' demise. FTI would be charged with conducting an investigation to see if there is cause to sue.

Getting approval could be difficult because a wide array of investors are pursuing different paths to try to reclaim some of their lost funds, and because Bear Stearns under fund guidelines is charged with coordinating the vote. Under the funds' governance documents, the vote will be canceled if holders of more than 50% of each fund's initial capital are not present within half an hour of the meeting's start time, the person said.

The vote in New York would decide whether Bear Stearns Asset Management would be replaced as general partner on the U.S. fund; the one in London would oust five directors who are designees of the firm's asset management unit.

By installing an investigative firm at the center of the funds, which were heavily invested in collateralized debt obligations tied to subprime mortgages, investors hope to pressure Bear Stearns to cooperate, another person said.

Jacob Zamansky, a plaintiff's lawyer in New York who is representing about 25 Bear Stearns hedge fund investors, said he is discussing with clients whether they should participate. He has already filed arbitration claims on behalf of some individual investors in the funds.

A Bear Stearns spokeswoman and an official at FTI did not return calls for comment.

Separately, Massachusetts securities regulators are investigating whether Bear Stearns had a conflict of interest by improperly trading with the two in-house hedge funds, saddling investors with added losses. Bear infused about $1.6 billion into one of the funds in an effort to save it prior to its collapse.

-By Jed Horowitz, Dow Jones Newswires"
--- OFF ---
Submitted by
Ed Cage
1804 Cross Bend, Plano Texas 75023
(Phone number listed)
ecagetx@tx.rr.com

Will in California
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Sunday Nov 11
 
I am a victim of the AMC/Citi nightmare...entered into a short sale program with them 6months ago..but now they refuse to take realtors offers...we've had two in the last two weeks...property is in very depressed part of Ohio..I now owe 30k more on the property then what it is now listed for..forced to relocate due to illness in family....rented the place for a while but could not even come close to the $1200/mo p&i payment adjusting now every 6 months---now, they filed foreclosure----but still won't negotiate with what few offers are coming in...I am now trying to do a DIL...but what's crazy is, if they would take an offer(which is very close to the current list), we could all go our seperate ways...by forcing me into FC, nobody wins....do I have any legal rights???
Ed Cage wrote:
Teresa in Alabama:
Nothing new here and much more to come regarding what appears to be the most corrupt and dishonest registered company in America: Bear Stearns/EMC the home of fraud, illegal transactions, and forgery.
“Bear Stearns settles Enron Fraud suit for $1,000,000”
http://financialservices.law360.com/secure/Vi...
Submitted by
Ed Cage
1804 Cross Bend, Plano Texas 75023
ecagetx@tx.rr.com
John
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Sunday Nov 11
 
Contact Greg Fedler at emcexecutivedesk@bear.com for compalaints and issues. He is the Consumer Advocate.
Ed Cage
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Monday Nov 12
 
Dave wrote:
Hello,
My submission of this situation has risen for my desire to ultimately protect the consumer from the same kind of wrongdoing that the corporation who holds my mortgage is responsible for. Hopefully, I will be able to resolve my matter as well. The company I refer to, EMC Mortgage Corporation (payments sent to Irving, Texas), evidently has a history of conducting itself in this manner, because I have located class action lawsuits online that have been held against them for the same behavior. Despite several attempts to resolve the matter and after providing any and all proof of payments for checks in question, EMC Mortgage Corporation still refuses, through lack of action, to apply proper credit to my account and has continously added late charges for "missing" payments. Every payment has been made to EMC. I really would like to know of all resources that could help to expose this bad conduct of theirs.
Dave although EMC is defunct out-of-business for all practical purposes primarily due to criminal mortgage fraud there is a class action against EMC by the James Hoyer law firm of Tampa Florida you may want to join. Criminal mortgage fraud is a way of life at Bear Stearns (now covering for EMC.) But class action is 3-4 year gig so don’t expect a justice quick fix if you choose to go this way but I personally think it's the right move. Numerous Bear Stearns mortgage unit and EMC employees will eventually be convicted of crimes if that gives you any solace.

Ed Cage
1804 Cross Bend, Plano Texas 75023 (Phone listed)
ecagetx@tx.rr.com
Kristin
Monday Nov 12
 
Any one know the email for the John Vella. We are trying to sell a property in which EMC is hold the second lien and they seems not to care if the property foreclose . We have a contract that will prevent foreclosure. I want to send email to the management .
Ed Cage
#1004
Tuesday
 
John wrote:
Contact Greg Fedler at emcexecutivedesk@bear.com for compalaints and issues. He is the Consumer Advocate.
John without question Greg Fedler of Bear Stearns in Lewisville Texas is the most dishonest person I have ever encountered.

He's a mortgage fraud criminal currently under investigation.

Ed Cage
1804 Cross Bend,
Plano Texas 75023 (Phone listed)
ecagetx@tx.rr.com
Ed Cage
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#1005
Tuesday
 
Teri wrote:
I have nothing but forced placed insurance from them because they didn't think I had enough coverage. Loan bal was $45000 and insurance coverage was $102000. Payments applied to a suspense account. Charging for drive by inspections repeatedly. Refusal to send payment historys showing breakdown of payments. Excessive charges, attorney fees and such. Constant threatening calls and constant calls. I know that I feel that I have been verbally insulted by them, I have tried to resolve issues to no avail. I finally hope that someone can help to guide me what needs to be done.
Teri the way EMC/Bear Stearns illegally generates hefty unjust and excessive fees and rapidly accelerates premature foreclosures is by illegally abusing their "suspense" accounts. About 80% of what is in their "suspense" accounts is inflated, non-existent charges, or fraudulent.

This is a primary reason EMC is out of business and Bear Stearns (mortgage unit) soon will follow. BSC of NY is currently being criminally investigated including customer “advocate” Greg Fedler.

*Criminal fraud*

Ed Cage
Plano Texas (Phone listed)
ecagetx@tx.rr.com

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it works

THIS JUST IN:

-------------  ON: ---------------
"Mass. Regulators File Suit Against Bear Stearns

The state of Massachusetts has become the latest regulator to target Bear Stearns Asset Management Inc. over the collapse of two of its funds due to subprime mortgage investments, filing a securities suit against the investment bank alleging violation of Massachusetts state law.

Ex-Bear Stearns Trader To Cop Guilty Plea

A former Bear Stearns trader is expected to enter a guilty plea by the end of the month in a wide-ranging insider trading case involving UBS Securities LLC, marking one of the last few accused to admit culpability in the scheme."

------------- OFF ----------------

Anybody want to buy some Bear Stearns stock?

Submitted by
Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com

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really, it works

Dear readers, justice on mortgage fraud perpetrators like Citi Residential, EMC, Bear Stearns, AMC, and Ameriquest may be slow in coming but it is certain.

I need examples of "corporate" and "suspense funds" and fees, "escrow account abuse," "unjust Property evaluation charges" appraisal fees without documentation, and forced inappropriate home "insurance." 3 of the above 5 companies are out of business and mortgage fraud criminals like Greg Fedler of Bear Stearns and James Brantley of Citi Residential are currently be investigated for numerous crimes.

A related update is below:

     - - -  ON:  - - -
"SEC Launches Merrill Lynch Probe: Report

In the wake of Merrill Lynch Inc.'s disclosure that it will write down $8 billion due to subprime mortgage exposure, the U.S. Securities and Exchange Commission has reportedly decided to take a closer look at the way the investment bank values its mortgage-backed securities."
-------  OFF  --------
Submitted by Ed Cage
1804 Cross Bend
Plano Texas
ecagetx@tx.rr.com

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Really, it really works

Joe:

I want ALL of them we can bring to justice to suffer the consequences. The sheer depth and size of this horrific criminal injustice is almost beyond belief. An important thing to remember is that none of us can afford to say, THEY ought to do this" or "THEY shouldn't allow that."  Joe it's got to be US that change things with examples, hard work and ferocious tenacity.  Not to mention a long term commitment. 

 

As you know there is no quick fix however:

 

1) EMC, AMC and Ameriquest are out of business.  This is a determent to some degree.

2) This horror story has now reached both the printed and electronic media.. (A huge step towards long term victory!)

3) Bear Stearns will soon have at least two of its entities collapse from intense criminal investigations for fraud including their Wall Street and Mortgage connections. The failure of EMC also crippled BS Mortgage. The judgment against EMC in about 2 years will make Ameriquest's estimated $400,000,000 judgment look like a bar tip.  BSC of NY will have to pick up a tab the size of the National Debt.

4) Numerous members of the criminal hierarchy of the mortgage fraud industry will be indicted and convicted. Arch mortgage fraud criminals like James Brantley of AMC/Ameriquest infamy now with Citi Residential will be convicted. I personally told Brantley that if he has prior convictions he will go to the penitentiary. I asked him about that, and he declined to answer.

5) The worst mortgage fraud criminal that I have encountered is Greg Fedler of Bear Stearns in Lewisville Texas, right in my back yard btw.  Fedler is so dishonest that if he made a hole in one playing golf, he'd put down a "0" instead of a "1." Fedler will be looking for a job in 75 days.  BS Mortgage is on the verge of collapse under an avalanche of litigation and a historic amount of criminal investigation/charges. Hell they cheated their own Wall Street investors!  Real class.

6) The failure of these companies and the crooks behind them will hopefully directly and indirectly lead to OTHER crooks be arrested and OTHER corrupt mortgage firms failing.

7) We are exposing their secrets!!  That's why I need *examples* so I can develop them and eventually go to the media.

 

Joe please let me know what firm or person you are focusing on so I can perhaps join or help you.

 

Warm regards,

Ed Cage
1804 Cross Bend
Plano Texas 75023

972-596-4363
ecagetx@tx.rr.com

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Honest to Pete, it works

THIS JUST IN:

      - - - -   ON:  - - - -

"Bear Stearns Lays off 240 Mortgage Workers including 100 at Encore

 

Bear Stearns a top Wall Street player in the nonprime mortgage market, laid off 240 employees in its residential home loans group on Thursday, including 100 at Encore Credit, its California-based wholesale division."

     - - - -  OFF  - - - -  

 

Encore Credit announced that henceforth they will operate as Bear Stearns Residential Mortgage Corporation. Additionally expect a formal announcement in the near future officially revealing a secret that insiders have known for a while: The defunct EMC corporate hull which faces a historic amount of litigation including 7 to 9 class action lawsuits due in large part to mortgage fraud will also make it official as Encore did that they are "becoming Bear Stearns Residential."  A primary function of Bear in both the Encore and EMC failures will be to use the Gestapo type collection methods they are famous for to collect Encore and EMC debts and cheat their customers.  Conversely look for Bear Stearns to employ the very same lies and deception that have become a Bear trademark to stave off armies of new lawyers and litigation by angry investors, stockholders, and borrowers who have been victims of criminal white collar fraud.

     AMC and Ameriquest (James Brantley) also both defunct,  have used the same methodology:

 

          ***********************************

          Change the name and continue

                  the criminal fraud.  

          ***********************************  

Citi Residential incredibly hired arch mortgage fraud criminal James Brantley to take up where he left off at Ameriquest/AMC which both collapsed due in no small part to Brantley's crimes. Brantley is second in notoriety only to Bear Stearns top criminal charlatan, Greg Fedler whom Bear refers to as their "Customer Advocate."  

 

Submitted by Ed Cage

1804 Cross Bend, Plano Texas 75023

972-596-4363

ecagetx@tx.rr.com

Bear Stearns stock continues to plummet.

 
 

Quote 0 0
Hey Pete, you're right
Teri ON: -----------------------
"I have nothing but forced placed insurance from them because they didn't think I had enough coverage. Loan bal was $45000 and insurance coverage was $102000. Payments applied to a suspense account. Charging for drive by inspections repeatedly. Refusal to send payment historys showing breakdown of payments. Excessive charges, attorney fees and such. Constant threatening calls and constant calls. I know that I feel that I have been verbally insulted by them, I have tried to resolve issues to no avail. I finally hope that someone can help to guide me what needs to be done."
Teri OFF ------------------------
Teri the way EMC/Bear Stearns illegally generates hefty unjust and excessive fees and rapidly accelerates premature foreclosures is by illegally abusing their "suspense" accounts. About 80% of what is in their "suspense" accounts is inflated, non-existent charges, or fraudulent.

This is a primary reason EMC is out of business and Bear Stearns (mortgage unit) soon will follow. BSC of NY is currently being criminally investigated including customer “advocate” Greg Fedler. *Criminal fraud*
 

Teri I suggest you join the James Hoyer class action lawsuit against EMC, but keep in mind it while it is a cost effective solution, it is a lengthy process.
 
Ed Cage
Plano Texas

972-596-4363
ecagetx@tx.rr.com
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Here's more!!!

"Bear Stearns (BSC) owns two bankruptcy-debt buyers: Max Recovery and eCast Settlement. The market also includes billions in discharged debts."

     - - -   OFF  - - -


Submitted by
Ed Cage

1804 Cross Bend, Plano Texas 75023 (Phone listed)

ecagetx@tx.rr.com

Quote 0 0
And this one

This just in today:

       - - -  ON:  - - - -
"PMI Insurers May Owe Thanks To Piggy-Back Mortgages
Tue, 13 Nov 2007 08:44:10 EST

     It is one of the small ironies of the subprime crisis that the very competition that private mortgage insurers thought was ruining their bottom line may have actually saved their hide.
     Just a little over two years ago - August 9, 2005 to be exact - we wrote about the panic in the headquarters of many companies that write private mortgage insurance (PMI) as they watched their revenues decline as more and more homebuyers caught on to the utility of "piggy back" mortgages.
     Well, talk about dodging a bullet..."

See full story at:
http://www.mortgagenewsdaily.com/11132007_PMI_Insurers.asp

      - - - -  OFF  - - - -

Submitted by
Ed Cage
Plano Texas
ecagetx@tx.rr.com
972-596-4363

Quote 0 0
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