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
Seeing postings here by lawyers, and now "Investigators" that purportedly specialize in MSFRAUD investigations, or litigation, troubles me.  Having been deeply involved in of over 35 years with both, I have learned to be careful about the opportunity of taking advantage of victims that have already been harmed.
Please be careful of these companies! ask for references, and copies the state license's if required, along with a copy of their Insurance Certificate with at least 2 million in limits, do  not be afraid to ask for their CV also.

Quote 0 0
O -

Your right about that. Don't trust ANYONE!
Quote 0 0
No one investigating mortgage fraud or doing forensic mortgage auditing carries that high of an insurance policy because there is no need to.  Most Forensic Audits get turned over to an attorney for final revue anyway.  They then choose which violations they want to fight in court. The law firms contract out the auditing to firms such as mine because its more cost effective for the client to pay me $400 for 5-6 hours worth of work than for them to bill the client $200 an hour for them to do it. 

Now I do agree, there are quite a few shady people out there.  I run into them everyday, thinking this is an easy field or want to "jump on the bandwagon" as one attorney told me the other day.  You need to know compliance to do forensic auditing.  You can't just simply decide to jump on the bandwagon if you have no experience as many are trying to do.
Quote 0 0
Sorry Steve, but 2 Million is really a basic within the Investigative Industry, and many carry another 2 Million in the Aggregate for exposure.  The single greatest exposure is a "Professional Liability" exposure, and the making of mistatements statements that are out side of any "Experts" area.  An  "Expert" is determined by the court, and is based upon three area's, EDUCATION, TRAINING OR PERSONAL EXPERIENCE. 
In the area of investigations of MSF its very difficult to make multiple claims of "Expertise" such as forensic audits, usually performed by a CPA with a specific background and experience, This is outside the "Investigative" services end, however Investigators work well with other "Experts" as "Forensic Handwriting" or "Document Analysis Experts" to support the "Investigators" findings. 
I have a problem with "Investigative Agencies" making very broad claims of differing levels of providing "Expertise". 
An Investigator, is nothing more than providing others with information to obtain other "Experts" in different fields to be brought in to make a lawyers case in a court action.
Providing a 2 million dollar "Certificate of Insurance" to a client is showing and "Errors and Omission" exposure is really a minimum level of protection.  I know my firm carries much more in Liability Limits for exposure's to indemnify our clients for potential exposure.
Having been in MSF for more than 7 years now, and providing help to those I can without compensation is important to me.  I have gone after Litton Loan from the beginning, and right up to MGIC/RADIAN and CBASS, I have also worked on COUNTRY WIDE, AMEIQUEST and the list goes on, I have also worked with and provided documents and information to numerous law firms that have several current Class Actions going on now, and so many Lawyers that are in individual actions I have lost count. 
I just don't want to see these victims, victimized again,  As some know on this site I have put countless hours, and tens of thousands of dollars of my own money into exposing "Manufactured Forclosure's", and the "Individual Identy" of those whom were responsible.  I am a direct "Creation" of those responsible.
Steve any idea's or thoughts I would be more than happy to share them with you off site here, but I will tell you as I have told others before, going on the site here only expose's you to numerous types of surveillance, including your own sites and I.P. numbers.  As many have already discovered.  I'm sure some if not all the site moderators would agree to the problem this site has had in being attacked.  I and others have written a number of previous warnings about this.
If you like I would be more than happy to assist you in your development, because you have chosen an area that is in serious need of help.  When we started there were only a handful of lawyers that knew anything about RESPA,HUD,TIL, Pooling and Servicing Agreements, CIS, etc. Now we have have hundreds and more coming on line every day!
We now know how the game was set up to fail for profit!
Quote 0 0
Most CPAs don't understand mortgage documents and most attorneys do not know the fine details of RESPA, TILA, HOEPA, etc. I know because I deal with them every day.  Doing mortgage fraud investigating and forensic auditing is more than crunching numbers like a CPA or being able argue for a living like a lawyer.  Not every one can be an effective Forensic Mortgage Auditor.  You have to have an extensive background in lending and experience as an originator to be effective.  This experience helps you understand why a loan was written a certain way and what the originator was thinking. 

Besides, most consumers don't have the resources to investigate hedge fund after hedge fund to trace down who holds their mortgage and note and why should they? Several courts here in Florida have simplified this for the consumer by issuing administrative orders basically telling lenders and servicing companies to be able to provide proof they are the legal holder of the mortgage and the note or the foreclosure will be tossed out. Under Florida law they have to prove they have the legal right to enforce the terms of the mortgage. Federal courts have upheld this as well.  It boils down to the RE 101, "If you don't own it, you can't enforce it."

Quote 0 0
Write a reply...