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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Citi has been accused of spiking the punch.  That is to say they are said to have messed with the mix of loans in CDO's in an effort to spice up the deal.  When this happens that don't actually go into a room full of millions of loans and pull out some that have less apparent risk and add them to the new pile to make the new pile smell better.  They do it electronically. 

If they add John A. Smiths loan to the new pile and fail to remove it from the pile it has been pulled from then Mr. Smith's loan would be in two places at once - correct?

But then again if they actually delete Mr. Smith's loan from the original pile and put it in the new pile, then Mr. Smith goes into foreclosure and the servicer will go looking in the first pile and not be able to find the loan - correct?

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Way To Go

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