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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Wondering what you guys think of this 2009 sale of mortgages to Fannie Mae with Power of Attorney?    I just took this from the Mecklenburg County public records.

There's a zoom in button at the top:

http://meckrod.manatron.com/docimage.asp?id=jAwOQ%3D%3D%215%03%13MI%21gtlaO6zI4NsxL%21TAyM&ms=0&cabinet=opr&pg=10&id2=i8yNKa%21%2F0%03%0FMS8%2EO9f%21%21DA5K%21nm%21C8yM
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Dianne:

The link given does NOT work.  Often, for sites that require some initial session acknowledgement that the user agrees to some basic use agreement OR where the link presenting a particular document is based upon some session key unique to that visitor's session, the URL will not give the document to others presenting the same URL.

If you give us the Instrument Number, Book and Page and/or Grantor, Grantee and Date of the instrument of interest, we can better consider the document from a basic search link:

http://meckrod.manatron.com/search.asp?cabinet=opr


However, I would also present the caution that in my view it is usually unsound for a Forum participant to include unique identifying information as to the identity of the borrower in posts and message traffic.

IF you are resolved that you want to present this document for inspection and scrutiny, this is possible using the procedure outlined.  But I do not encourage this.  It is usually better to communicate these sorts of details privately via e-mail.
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William A. Roper, Jr.
See also:

"A CAUTION Regarding Posting or Communication of Personal Information" (01/02/08 at 02:55 AM)

http://ssgoldstar.websitetoolbox.com/post?id=2393700

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2011- BofA Sells Pool of Servicing Rights to Fannie Mae

By Krista Franks | 08/11/2011

Bank of America has sold the servicing rights of 400,000 home loans to Fannie Mae, according to media reports. The unpaid principal balance on the loans is said to be $73 billion. The loans were sold at a price of $500 million. BofA's CEO Brian Moynihan referenced a sale of mortgage servicing rights in a CNBC interview this week, but did not name the purchaser. A BofA spokesperson told DS News the sale is consistent with steps the company is taking to address legacy mortgage issues and position for growth.

... Fannie Mae does not directly service loans but has a history of facilitating transfers of portfolios to high touch servicers in an effort to mitigate credit losses,” Fannie Mae stated in response to the purchase from BofA. ....
http://www.dsnews.com/articles/bofa-sells-pool-of-servicing-rights-to-fannie-mae-2011-08-11

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connect the dots

fnma has no statutory authority to purchase these loans.

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Texas
BOA said it was selling the Servicing Rights to Fannie Mae.

First question that arises here: Was BOA acting as Servicer for Loans already owned by Fannie Mae?

Second question: Will Fannie Mae now sell the Servicing Rights to another 3rd party?  
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Trying to attach my MERS Milestone report, to this post.
One thing I know for sure, we had better never turn over property registration to these crooks.
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Texas
Stand corrected, BOA did not say who bought the MSR rights.
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connect the dots
fnma has no statutory authority to buy the loans (not in the servicing business)

 

 

I am sure that you saw the recent announcement pertaining to fnma’s purchase of “servicing rights” from BAC.

 

http://www.dsnews.com/articles/bofa-sells-pool-of-servicing-rights-to-fannie-mae-2011-08-11

 

 

 

 

Statutory purposes of Fannie Mae:

The Congress hereby declares that the purposes of this title are to establish

secondary market facilities for residential mortgages, to provide that the

operations thereof shall be financed by private capital to the maximum extent

feasible, and to authorize such facilities to--

(1) provide stability in the secondary market for residential

mortgages;

(2) respond appropriately to the private capital market;

(3) provide ongoing assistance to the secondary market for residential

mortgages (including activities relating to mortgages on housing

9

for low- and moderate-income families involving a reasonable

economic return that may be less than the return eamed on other

activities) by increasing the liquidity of mortgage investments and

improving the distribution of investment capital available for

residential mortgage financing;

(4) promote access to mortgage credit throughout the Nation

(including central cities, rural areas, and underserved areas) by

increasing the liquidity of mortgage investments and improving the

distribution of investment capital available for residential mortgage

financing; and

+ + *

Section 1716, Title 12, U.S. Code.

Statutory

 


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