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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I know that experienced class action lawyers have joined together and filed lawsuits in California, Arizona and Nevada on behalf of victims of predatory residential lending against Countrywide, Bank of America, Chase, Citi, Wells Fargo, HSBC, GMAC, GE Money Bank, First Franklin, National City, PNC, AIG, MERS, Freddie Mac, Fannie Mae, Recon Trust, California Reconveyance, Cal Western, Executive Trustee Services and numerous other banks and servicers. 

Complaints have been filed seeking statewide class certification and injunctions to stop foreclosures on Deeds of Trust naming "MERS" as the beneficiary.  For recent news stories relating to one of the Nevada lawsuits see the following links:
 
                            http://www.kolotv.com/home/headlines/42938942.html 
                            http://www.krnv.com/Global/story.asp?S=10160780&nav=menu113_6_11
 
I know from writing the lawyers that they are working with attorneys to file cases for victims of predatory lending in Texas, Florida, Georgia and Missouri
 
The lawyers in Nevada who first started bringing these cases last summer are working with the lawyers in the other states are the law firm of Hager & Hearne, and they can be reached at 775-329-5800. 
 
It is OUR chance to see justice done.

Ken
 
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OPPS, what I meant was Class Action PLAINTIFF's.

Modertaor - can you pin this thread please?

Ken
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I would love to see this go nationwide!!!

S
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Stephen

Class Action suits only make the lawyers rich.  Ten years from now, the plaintiffs may see one cent on the dollar.

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I realize it's a common opinion that 'Class Actions' only make the lawyers rich but class actions ARE what is needed to take on a multi-trillion dollar mortgage market.  What would you have as the alternative, nothing?  The status quo?

Homeowners, including me, have been commisserating that we can't find a good lawyer.  Now that there is a group of SMALL law firms coming together to take on MERS and others it is time we as a group stood up and decided to either fight or go slither away licking our wounds.

For ME the opportunity to have my case joinded with thousands of others may be the only avenue I have left.

Blowing off a chance to do something is not the answer.  Just Google class action mortgage and look at the volumes of howeowners who are begging to be involved in a class action.


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Stephen

The alternative is LAW ENFORCEMENT.  These lawyers aren't going to do squat for you or me.

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Law Enforcement?  Not.  Local cops are out of their league and state level investigators have neither the time or experience.  If law enforcement was the answer the jails would be full of high level white collar criminals with mortgage fraud convictions.

I never wasted a drop of energy communicating my issues to law enforcement and won't start now.
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4 Justice Now
Ken,

There has to be a better alternative than a Class Action (CA) Law Suit. I have been a lead plaintiff in a Class Action that has gone on for more than six years now with no end in sight. At best, I might expect to receive around $5,000 - $7,000 (about 5% of what was stolen). And that's as a named plaintiff, other non-named members could get $2,000 at most, but would more likely receive only $100 - $250 regardless of what they have lost.

In small claims court they could receive as much as $5,000 maybe more depending on what state they live in. The only reason that I happened join a CA case, was that at the time I wasn't fully aware of how useless they truly were, and it seemed to be the only alternative. Also, I thought that some how I just might be able to direct the case into something that could benefit the class members over all.

Unfortunately, I really doubt that it possible to receive any form of true justice in our courts today. At the moment, I believe the only way that I might actually be able to assist at all is to try and help future plaintiffs by discharging the law firm and then simply refuse to participate in the "system" entirely. After all, from what I have witnessed thus far, Stephen is totally correct!  The law firms become rich while the plaintiffs receive no real benefit at all.

Maybe, if more people simply refused to play in this rigged game it might actually morph into something more than just a gravy train for Attorneys. But I really doubt it, besides it's most likely too far gone to be repaired. I've sent them notification and I'm just now waiting to hear their response... Not that that is going to matter at all.

My opinion, as always.

R,

4J
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The class action I mentioned, in this matter, is intended to divest MERS of any semblence of legal authority to act as a benefical nominee.  Once MERS is shut down we can move back to a semblence of proper recordings of documents.


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4 Justice Now
Ken,

Under the circumstances as you have described them it might very well be an acceptable arrangement. Please keep us informed as to how it proceeds.

I wish you and the others the best of luck.

R,

4J 
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Stephen
Been through several class actions.  Took years, attorneys got millions and I got pennies on the dollar.

By "Law Enforcement"  I mean the FBI and FTC.  And theY DO kick butt!!!!
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http://www.legalabusesyndrome.org/


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Stephen

Thanks for that......

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The Equitable one

I have spoken with an attorney at the firm referenced in the OP. They are looking only for folks in non-judicial foreclosure states.

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tired and tattered

I just find it amazing with all the forclosures and lawsuits and complaints that we are still having to try and convince everyone that there is fraud being committed. How is this still happening after all this time. There are too many of us out there not being listened to. The fraud is being exposed in so may ways and yet there is still no regulation. We should not have to all pay for lawyers when fraud and embezzelment are involved. The fraud should stop. If we cheat on our income tax do they need a lawyer? NO! They just come after us.

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I 'may' have to start a new thread.  The Plaintiffs lawyers I mentioned above filed a case here in AZ (and elsewhere I believe).  In the Arizona Federal District Court the case is Cervantes v. Countrywide/MERS et al.

I have been following the PACER filings daily.  The case was filed less than a month ago and to date, FOUR, yes 4 Federal Judges have recused themselves from the case.  The current Judge is the 5th so far to be assigned.  Truly amazing.

What is quite revealing are the number of Defense Lawyers already making their appearance.  As best as I can count from one of the most recent Certificates of Mailing, the number is nine (9) lawyers from some very large firms.

The motions are flying.....
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The Equitable One
t&t,

More than 90% of foreclosure suits are not defended at all. Of the ones that are Bankruptcy is the most common defense. That leaves a very small number of suits that are actually being adjudicated in the state and federal district courts. Break that small number down into different jurisdictions.

The number of cases any individual court, or judge, has before it in which any of the issues are being argued is quite small. I'd venture there are many jurisdictions that have no cases being legitimately, zealously and eloquently argued.

Those of us involved in defending foreclosure suits live, eat and breath this stuff. I do anyway. That doesn't make me an expert (unfortunately - but I'm trying real hard) it only means I read everyday about cases all over the place, and media articles from numerous sources. Many here are the same.

In my own case I'm betting the court has never heard or seen anything like the information I have put before it. Dropping the PSA into my case will... Well I've no idea how the court will respond. As such it is ignorant in re various truths. I view this as being similar in dynamic to the church denying the earth was not the center of the universe way back in the day.

The row we're hoeing is long and hard. But the earth isn't flat, the sun does not revolve arouond earth, and earth is not the center of the universe. My voice will not stop speaking, or shouting, to those in positions to rule on the facts of my case. One victory in my state will be precedent for every other foreclosure suit in my state. And I am planning on being that case. I know of no other cases being defended in my state as mine is.

I'm not saying "Give the ignorant a break." I am saying work diligently to see to it they become informed and knowledgeable.

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The term I have seen used on this and some other boards about the fraud is domestic finanical terrorism. The real problem is that it is practiced by our own people against others of our own people.
 
Unfortunately we cannot rely upon the government for protection from this type of predation as they are protecting the financial predators and bailing them out with our money.
 
So we are all getting raped as we all ultimately pay through our taxes.
Remember taxation without representation was the cause of the revolution, our government has become what we rebelled against.
 
This is eerily similar to the church leadership protecting the child abusers in the priesthood before the lawsuits etc. How will this get resolved? I think through the courts by the remaining honest members of the judicary, stay tuned.
 
I also read a piece from an earlier thread where Citicorp was buying toxic assets with bailout money. Why would they do this if they were not profiting from it? They profit from the predatory lending servicing fraud cycle.
 
Class actions the way they are done presently by the illegal system are a sham a way to buy off the victims cheaply while enriching the attorneys.
There may have to be a different kind of class action or private suits if the acts are not declared criminal and prosecuted by AG's since the DOJ has yet to act.
 
These cases may be handled similar to the way the priest abuse cases were handled. The first step is to get the remaining honest part of government to admit the fraud exists and stop aiding the perpetrators. 
 
 
 
 
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Nice post, aprioremailer. I couldn't agree more. But it's not just domestic financial terrorism. Think of all the investors around the world that invested hundreds of billions of dollars.

And as for Citicorp, think of it like this. If you could buy a hundred thousand houses at 5 cents on the dollar and pay an attorney 5 cents on the dollar to foreclose on them what would you have? 90 cents on the dollar of equity in a hundred thousand homes. WOW, I'd do it too if they would let me...
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tired and tattered

If we can all figure this out and we are not rocket scientist, does anyone believe for a minute that the judges and the lawyers, and the government does not get it? I do not believe that they do not know. Too many people have been paid off. There will never be justice for all.

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