Dear Fox News Headquarters,
I appreciate the fact that you try to unbiasedly report the news, but when you had on this man Rich DeSalvo,
I had had enough.
He is in the pocket of all the Mortgage servicing firms as a consultant who helps them figure out ways to
"streamline" in his words, efforts by the Banks etc to foreclose on men and women who don't pay their
mortgages. What a Joke.
Let me give you an example of how these firms are foreclosing against the law on unsuspecting men and women.
There was a firm called Conti Mortgage which was one of the largest mortgage brokerage firms in the US.
It had to file bankruptcy in 2000 as is had been losing money in this securitization home loan scam it
was running. It's loan servicing arm was Fairbanks Capital, a servicing company set up by a known
criminal who had ties to the mob and is now on the lam in Europe.
Fairbanks was so crooked that it was sued by the Feds and had to change its name to Select Portfolio Servicing.
After this company got out of 5 years of Federal review they are now back to running their cons.
Back to Conti Mortgage however, In 2007 they petitioned the Federal Bankruptcy court who allowed them
to destroy 40,000 boxes of Mortgage documents including all original notes etc. They they were allowed
to pay off ALL investors and debts as a part of their Chapter 11 settlement, which means that all loan
pools were paid off, which means that anyone who had a mortgage within these loan pools had theirs paid off.
Conti then sold all this "unsecured" servicing rights to Select Portfolio Servicing for 75,000 dollars.
If these loans would have been secured this would have been worth Billions, but because
these debts were now unsecured it was just so much "bad Paper".
These loans are now being foreclosed on illegally by SPS, but Rich DeSalvo would have you to believe that
this is perfectly legal and we should make it easier for SPS and all the other crooked companies out there
to continue to operate in blatantly illegal ways, because to do anything less would bankrupt these major
Banks and lending institutions. Well let me tell you, maybe that is exactly what needs to happen.
If the foxes are allowed to run the hen house, what part of our lives are next on the chopping block?
Thanks for your time and great reporting. Feel free to contact me anytime as I have all the paperwork
to substantiate my claims.
See the SFN trust below.
http://www.cfntrust.com/ This has no searchable links to it. It would only be found if you know exactly
what you are searching for, in other words the exact name of this site. This is just more of them trying
to hide this fact from the public.