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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City sues lenders over forgotten houses  Buffalo News - March 1, 2008

The city is suing 28 national lenders and servicers — including two local banks — to recoup between $1 million and $2 million it estimates it will have to spend on securing and demolishing 58 vacant properties.

The lawsuit says the servicers “have failed to take appropriate action to protect or dispose of these properties,” and it says the conditions of the houses violate both city and state laws. And it asserts that the city now “has a duty to abate these nuisances by demolishing the abandoned and blighted structures.”

http://media.buffalonews.com/smedia/2008/03/01/08/Buffalo___Brown_vs._banks_in_lawsuit.2.08.source.prod_affiliate.50.pdf
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Hmmm...I wonder if Al Vaughters at WIVB is on this story yet... Somebody should check in with him to make sure he's aware.... And if the city is going to go through with this suit that list potentially looks a little short. Maybe they haven't been able to identify everyone involved yet...

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The lawsuit says the servicers “have failed to take appropriate action to protect or dispose of these properties,” and it says the conditions of the houses violate both city and state laws. And it asserts that the city now “has a duty to abate these nuisances by demolishing the abandoned and blighted structures.”
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He has been advised.

Dee
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