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
Nye Lavalle
FORECLOSURE TRAGEDY
Cedar Park couple sues Austin company in foreclosure mix-up
By M.B. Taboada, Shonda Novak
AMERICAN-STATESMAN STAFF

Tuesday, July 01, 2008

A Nigerian couple who are victims of a mortgage mix-up filed a lawsuit Monday in Williamson County against the company that removed everything they owned from the house, including family heirlooms, furniture and even food from the pantry.

Bobo and Joy Dickson are suing Field Asset Services Inc. for failing to return their property. The lawsuit seeks money for the lost property plus compensatory damages, and called the company's conduct "malicious, callous and wanton."

EMC Mortgage Corp., the Lewisville company that held the previous owner's loans, has apologized to the Dicksons. On Monday, EMC's parent company, banking giant JPMorgan Chase, also apologized.

"We take this very seriously, and we are working with EMC and the family's attorney to make this right," said Tom Kelly, a JPMorgan spokesman.

Austin-based Field Asset did not return phone calls. Jay Hennick, the chief executive of First Service Corp., Field Asset's Canadian owner, also didn't return calls.

In early May, the Dicksons bought a house that had been headed for foreclosure. All the paperwork was completed.

But the foreclosure process apparently wasn't halted, and the couple came home from work May 14 to find all their possessions gone.

Field Asset, which provides property management services nationwide, had been hired to drill out the locks and empty the house, according to police reports. Field told police that the family's belongings were given to area thrift stores, but the Dicksons have had no luck finding them.

Peter Sajovich, an area real estate broker who helps banks sell their foreclosed properties, said that "under no circumstances" should the Dicksons' property have been disposed of so quickly.

He said the policies of all of the banks he works with call for going through the courts if more than $350 worth of personal property is involved in foreclosure cases.

The process can take two to three weeks.

With or without a court order, the banks have the right to change the locks if payments are delinquent and the home is vacant but not seize personal belongings, Sajovich said. The court order allows the bank to remove personal belongings, but the homeowner has 24 hours to reclaim them.

"Banks are very, very cautious, very, very concerned about the personal property left in the homes," Sajovich said. "They don't voluntarily trash personal property."

Sajovich said the foreclosure protocols are "pretty routine stuff" and that Field Assets, one of the largest asset management companies in the United States, should be well-versed.

Kelly, the JPMorgan spokesman, said he did not know whether EMC had a court order in the Dicksons' case.

The Dicksons' attorney, Trevor Hance, said that he and an EMC attorney spoke Monday but declined to say whether they are discussing a settlement. He said they plan to talk again soon.

Williamson County District Attorney John Bradley said the situation is a civil dispute because there was no criminal intent.

"A terrible mistake is not necessarily a crime," Bradley said. "Clearly, someone took their property without their permission. That's easy to prove. But the question becomes is the removal of the property done with criminal intent." Bradley said Field Asset had a "legally justifiable belief" that it was removing items in good faith.

Elizabeth Bradburn, the Dicksons' real estate agent, is organizing an effort to collect donations for the family. She said gift cards to furniture and household goods stores are preferred and may be sent to the Dicksons' business address: 9800 N. Lamar Blvd.,

No. 315, Austin TX 78753.

"It's been awesome to see people mobilize and want to help out," Hance said. "The Dicksons are, of course, very grateful and touched by the outpouring of support from the community."

snovak@statesman.com; 445-3685; mtaboada@statesman.com; 912-2942
Quote 0 0
Stephen

How 'bout if I back over one of their execs in the parking lot and just admit my mistake?  Can I just go on my way?

Quote 0 0
Nye Lavalle
Sure, shoot 'em in the back and just drag 'em back to your car or backyard and in Texas, it's legal to use deadly force. Not even considered a mistake, but justifiable homicide. Funny, if the couple was there and killed the guys coming in, they would have gotten off scott clean!
Quote 0 0
Ed
Quote:
...
Williamson County District Attorney John Bradley said the situation is a civil dispute because there was no criminal intent.

"A terrible mistake is not necessarily a crime," Bradley said. "Clearly, someone took their property without their permission. That's easy to prove. But the question becomes is the removal of the property done with criminal intent." Bradley said Field Asset had a "legally justifiable belief" that it was removing items in good faith....


This DA should be voted out of office. Looks like in Williamson county all you have to do is say you didn't have any criminal intent when you break into someone's home and steal all their belongings on the orders of a servicer.



Quote 0 0
Nye you make a very good comparison, I guess in this case of "Burglary" "Theft of Property", and "Extortion" are all civil matters? 
 
Shoot them in the back, drive over them, all on private property, and claim its a "Civil" matter! Texas Law!
 
Sounds like the same defense the Insurance Commissioner's office did for Litton Loan and Southwest Business, and similar complaints, all civil matters!  
 
Texas is expanding the law of "Civil Matters" 
 
Seems there was "Intent" by the "Planning" and intentional theft of property, as the property can not be located?  Come on, COP OUT EXCUSES.
 
Where is the Civil rights violations?  Being ignored again? By another District Attorney?  Hell yes, and again, its who you are, and not anything else!  Another victim of the systems failure to protect and defend property and life! 
 

Quote 0 0
The background to this story is that JPMChase are a bunch of cheap bastards (you know the kind, common these days: a multi-billion corp that just can't afford to pay workers unless they are in Mumbai, so they send as many jobs over there as possible), and if you could get into the internal memos, you would probably find something that urges EMC to cut costs (like refusing to pay to have a constable on the scene,  a minimal expense, but... cheap bastards... also the constable being present is supposedly Texas law, but where corps and corruption are concerned Texas law is a very fluid concept).
Quote 0 0
Write a reply...