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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Nye Lavalle
CNBC 1:15 PM today reports that all of the bond insurers are on the verge of bankruptcy and that it will not only affect mortgage securities, but municipal bonds as well. Go to CNBC and download report. A ticking timebomb Gasperino says! DUH!!!!
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Stephen

9-11 in the mortgage industry.

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Lest anyone FORGET, there were PRIVATE mortgage and bond insurers PRIOR TO the Great Depression, too.  ALL of these went bankrupt.  This ultimately led to the creation of the FHA.  But the numbers were far smaller then and the defaulted paper was NOT global in character.

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