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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The Baddyguard
Dethroned Bear Stearns CEO Needs Armed Bodyguard

From today's New York Post:

Anger has reverberated all week throughout the gloomy Madison Avenue offices, where dethroned chief Jimmy Cayne has walked around with an armed bodyguard.

Starting Monday, when embittered and dazed employees arrived for their first day of work since learning their firm blew up along with the company piggy bank, Cayne's armed hulk of a bodyguard trailed him everywhere and parked himself outside Cayne's office all day, sources said.

Some employees say they're furious at the 74-year-old Cayne for going to bridge tournaments during the week the firm crumbled. Cayne is said to be quietly helping British shareholder, Joe Lewis, drum up another suitor for the firm at a much higher price than Dimon's bargain basement deal as low as $2 a share.


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Nye Lavalle
Actually he's going to need some enemas, vasoline, and depends when we, the Feds, and the prisoners are done with him!
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4 justice now
Nye, you know better than that... scumbags like that get sent to country clubs, not prisons. But, if you happen to be right, I'll buy you a dinner at your favorite restaurant.

R, 4J
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One of you creative types ought to pitch this as a reality show.

I'm laughing already.

Dee
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Moose

Dee wrote:
One of you creative types ought to pitch this as a reality show.

I'm laughing already.

Dee


How about "Dumb and Dumber?"  (Sorry, already taken.)

Moose

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Blossom

Housing protests hit Bear

NACA, a housing advocacy group, sends 60 protestors into the lobby of Bear Stearns headquarters to demand help for homeowners facing foreclosure

March 26. 2008 2:55PM  By:  Craig Bromberg

As if being sold for $2 a share and being forced to share office space with buyout bankers from J.P. Morgan Chase & Co. wasn’t enough, housing protesters hit the halls of Bear Stearns & Co. on Wednesday afternoon.

Chanting “Help Main Street, not Wall Street,” a group of approximately 60 protesters organized by the Neighborhood Assistance Corporation of America occupied Bear’s lobby, demanding help for homeowners facing foreclosure in the face of J.P. Morgan’s $29 billion deal to acquire Bear last week.

"There are no provisions for homeowners in this deal,” Detria Austin, a NACA organizer told Reuters. “There are people out there struggling who need help.”

Apparently, Bear bankers were less than amused by the protests. "Homeowners, that's more than $1 trillion (in mortgage debt), you're crazy," one man in a suit screamed at a protester on the street, reported Reuters.

NACA, a housing advocacy group based in Jamaica Plain, Mass., aims to attack what it believes are predatory lending policies and a critical lack of affordable credit to working people. On its website, the organization also offers a 30-Year fixed mortgage with no down payment or closing costs.

http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20080326/FREE/816585427

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