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 recommend that anyone who is still having problems with Fairbanks/Select Portfolio Servicing/SPS check out the increased number of posts on (search on Select Portfolio Servicing).


Check out the following post:


This is classic Fairbanks/SPS even in a post-Curry Settlement world.  Why is this being allowed?  I think Moose touched on something with his post about career limiting moves (CLM).  If you feel that you are being victimized by SPS/Fairbanks right now or since November 2003, you should contact the inspector general (IG) at the FTC and contact Mike Dillon via his website ( with your experiences.  The FTC IG info follows:


Contacting the FTC IG will possibly give the working people (non-political appointees or civil servants) at the FTC something to work with and possibly protect the careers of individuals who are being pressured to look the other way regarding violations of the FTC order by Fairbanks/SPS/Select Portfolio Servicing. 


Likewise, I believe even some higher paid individuals (political appointees) at the FTC that will be replaced with the change of Administrations (Democrat or Republican - there will be different faces in upper management at the FTC and other Federal agencies) after the next Presidential election are disgusted with the likes of Fairbanks/SPS/Select Portfolio Servicing.  Consider the number of telephone calls they must field because of Fairbanks/SPS/Select Portfolio Servicing even in a post-Curry settlement world.  They have got to be sick and tired of hearing the same stories.

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Here we go again.


Another borrower that doesn't have a clue what is happening.


No idea of the money situation.


I'd guess they've charged her unreal extra charges.


Somebody needs to tell this borrower to get all the checks that she wrote

and Fairbanks cashed alongwith the checks issued by the bankruptcy trustee.


She should see a sample of a mortgage amortization schedule so she can get an idea of what she should have paid.


Print it out and use it as a form to make entries on re: checks and payments.


It is just plain wrong for a borrower to believe that Fairbanks is going to

provide them with an accurate accounting.  It is in their best interest to keep the borrower in the dark and unsure of the status of the loan.


This is the kind of post that I have trouble reading over and over and over and over.


Point her to "Best Practices" and to write a QWR under RESPA for each

violation  cc: at least HUD and FTC, her attorney general.


She thinks Fairbanks owns her mortgage note sold by Equicredit.  I had a difficult time figuring who owned my mortgage as I had the same deal

with Equicredit.  Equicredit still exists and Fairbanks-SPS has the servicing



Sounds to me like she is ready to fight and at the end of her rope.


Maybe she'll do the work required to get the infractions documented.




Hope Mike finds a way to reach her.


Bankruptcy always seems to be a short temporary delay of the inevitable.


She may not have the money to get a Mortgage Analysis by a Forensic

CPA but it sounds like her case may be too complicated to be helped

by the Amortization Calculator except to get a rough idea of what has happened to her money.


This sure sounds like pre FTC-HUD, Curry, et al behavior to me.


I came to the conclusion a long time ago that SPS-Fairbanks couldn't

handle mortgage payments with simple math it takes to apply payments to principal and interest.


So, I don't care what their records show.  I always prefer to see what a mortgage analyst thinks of the loan.  I prefer to attack their business

ethics and calculations to be of no value whatsoever and should not

be used by the borrower.


I wonder why she thinks another class action lawsuit is going to help her

anymore than it did before.


Now is the time to go for sanctions against them.  "Best Practices" violations are actionable. Borrowers need to look for violations.  Should this behavior

be contempt of a court order?  I think so.


"Best Practices"  was meant to be a benefit to borrowers in return for the small money settlements.  This for that.  Protection for future borrowers that end up with their loans being serviced by Fairbanks-SPS.  It is also meant

to protect current borrowers as well.


God, this irritates me.


If nobody holds them accountable, they will weigh the risk believing that borrowers will do nothing to protect themselves from violations and continue to do it.

















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I agree wholeheartedly with your analysis!   I will respond to this lady's post with my own experiences.  It would be nice to have a pre-written response, since this thing keeps happening over and over again.

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DO contact the FTC.  I have confidence in them.

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If you are an employee of the FTC and know of something untoward regarding the Fairbanks/SPS settlement, you can anonymously let the FTC Inspector General's office know.  There are laws that govern reprisal.

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I am so  fed up I am in tears about this so if anyone reads this and can help ,HELP I was with the monster of three heads Litton . FAirbanks and Sps Servicing  they had me to go to Bk  fo 5 Years and they are now trying to add 8 more months because they paid my property tax out of my money and they want it back $6345.90  and I do not have that kind of money so I would have been finish  with My chapter 13 in Dec after 5 years but now they want me to stay in 8 more months to pay taxs  I am dfeated and tired  DAM DAM DAM

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