While these probably in no way cover all of the illegal activities by the Mortgage industry and Your Federal Government, this may give you an idea of how pervasive this problem is when you figure that with the MERS system alone there are 60+ million homes and properties with no ownership papers. Compound this throughout the industry and you have a conservative estimate of over 200 million homes with bad paperwork and a 14 trillion dollar screw up that the taxpayers are paying for instead of forcing these corrupt banking institutions to pay. This doesn't even include the fraudulent insurance scam in the 100's of billions of dollars easily. What is very curious is that the total amount od this mortgage crisis is almost exactly the same as the national debt. I wonder why that is....For more information please visit us on our WEB site, Homeowners Against Mortgage Servicing Fraud on Facebook or see my blogs on blogger.com or articles on hubpages.
1) Mortgage Fraud – This hardly needs explaining. This is not a matter of homeowners not paying their mortgage as the Banking industry and Fed. Government would like you to believe.
2) Postal Fraud – All notices being sent through the US Postal Service is supposed to be mail fraud if it is a fraudulent notice as most mortgage servicing documents are. The USPS is ignoring this.
3) Conspiracy – The banking industry conspired with the Federal Reserve and the Insurance industry and the mortgage servicing industry to swindle the homeowners and the investors while avoiding all jail time.
4) Tax Evasion – With every sale transaction of the loan note on a property, a 1099-A is to be filed and taxes paid to show that the said property is being carried on the books of the company. This is being ignored by IRS. We foot the bill in lost tax revenue by these major banking entities.
5) County Filing Fee Evasion – With every transaction, the counties are supposed to collect a fee from the Mortgage company. All these lost fees are then paid by the taxpayer in higher taxes. This is a 10 million a month loss in Tarrant County-Ft. Worth, Texas alone. State and countyGovernments are allowing this.
6) Illegal Foreclosures – without any paperwork to substantiate their claims, the courts and the Federal and State Governments are allowing the illegal foreclosure of American Homeowners
7) DTPA-Deceptive Trade Practices Act violations - the banks and mortgage servicers are violating the DTPA. Government is allowing this.
8) FDCPA –Fair Debt Collection Practices Act violations - the banks and mortgage servicers are simply ignoring FDCPA notices. Government is allowing this.
9) TILA – Truth In Lending Act violations - the banks and mortgage servicers are simply ignoring TILA notices. Government is allowing this.
10) RESPA – Real Estate Settlement Procedures Act violations – the banks and mortgage servicers are simply ignoring RESPA notices. Government is allowing this.
11) Insurance Fraud – companies that have no ownership rights to the notes are forcing insurance while naming themselves as the mortgagee. State insurance boards are not investigating.
12) SEC Fraud – the correct paperwork such as the 1099-A is not being filed as mandated by law to keep chain of ownership and title clear.
13) Forgery – lost paperwork is simply being created out of thin air with no basis in facts and signed by non-existent individuals and the Attorney General’s offices and Federal Government is allowing it.
14) Failure of courts to Uphold the “Rule of Law” – rules of law in the judicial system are being ignored by both the courts and Government to the benefit of the lenders and the detriment of the homeowners
15) Constitutional violation of the 15th Amendment ( Illegal Seizure ) – without proper paperwork the government is allowing a third party entity to lay claim on homes they don’t have any interest in
16) Failure of Government to stand up to fight for the Homeowners – the US Government under Fannie Mae, Freddie Mac, and the Federal Reserve are not pushing the Banks to stop the illegal activities as they are a part of them
17) Banks have Unlimited taxpayer Funds to fight the Homeowners – the government is allowing the banks and mortgage servicers to use taxpayer monies to fight homeowners
18) Denial of Due Process – Banks are pushing cases through with poor paperwork and denying homeowners due process under the law
19) Gambling Violations – Special Law was passed by the Feds so the Banks could Bet on the Mortgage backed securities
20) Clouding of Title - 1st time in our Nation’s history where the chain of title to property is being clouded and endangering the clearly defined inheritance laws
21) Flawed Definition of “SUB PRIME” Mortgage – This is a term used by the mortgage industry to identify homes easy to steal with just a few false fees and not to mean homeowners who shouldn't have bought a home.