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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Seems as though here in Massachusetts I read DEUTSCHE bank as the trustee on many, many of the foreclosures happening daily.  They were listed on my foreclosure as trustee but prior to that I had never heard their name when I took my original loan with Long Beach Mortgage company (now out of business) owned by washington mutual.

Just hoping to find some others locally to see whats happening here in our court system.

Thank you.

Quote 0 0
Big Mac

sounds like ameriquset.

Quote 0 0
Rick,

I'm far from a knowledgable authority on this issue, but....

Deutsche Bank is also the Trustee in my foreclosure. I checked records at the county recorders office and they didn't even have a proper assignment when they filed the complaint.

I believe this is grounds for dismissal. Perhaps based on fraud upon the court. I'm still researching.

In any case, if you haven't already, go to your records office and get notarized copies of your deed, the mortgage, and the assignment.

If I'm remembering correctly this is the reason the cases were dismissed in Ohio back in October. I've also heard it is happening in other jurisdictions too. Hoping to make mine one,

Glenn
penfurn@aol.com
Quote 0 0
Ohio

Glenn wrote:

If I'm remembering correctly this is the reason the cases were dismissed in Ohio back in October. I've also heard it is happening in other jurisdictions too. Hoping to make mine one,

Glenn
penfurn@aol.com

Glenn,

These decisions are listed in the legal lounge. It would help you enormously to read through them thoroughly.....
Quote 0 0

Deutsch Bank victims, see new posting, regarding ownership, Deutsch does not own or hold any interests that it is forclosing under.  See posts about to appear from Big Bob and Myself!

Quote 0 0
Ohio,

I have seen reference to the "legal lounge" in other posts as well. I can't find a link to that on the home page. Admittedly, I can miss the perfectly obvious, and am not really "technologically proficient."

Where do I find this "legal lounge?"

Glenn
Quote 0 0
OK,

Now I'm feeling like a real smacked ass. I found it.

Persistence can and does win out over idiocy sometimes, LOL.

Glenn
Quote 0 0
Moose
Most large banks have a trust department, but like all businesses, specialization-driven market forces create a few very large participants who can make money from efficiencies of scale.

Deutsche Bank happens to be one of the largest players in the RMBS trustee business, so it should come as no surprise that they're on so many foreclosure filings and lawsuits.

And chances are, they use the same entities to handle foreclosures, typically a large specialist firm that then doles out the cases to the local foreclosure mills.

It's like 'Here, have a box of files and have fun in court!'

They just want the 'problem' to go away, and there is so much money to be made in the almost automatic foreclosure business that the lawfirms don't even bother to make sure the records are accurate.

Remember the game where you'd sit in a room and one person would tell the next person, then the next - passing it on until the last one announced what it was? 

Imagine doing that with a falsehood at the start and having it go through a chain of knowingly dishonest people. You're not going to get the truth at the end, and until recently in a few highly-publicized cases, the courts were willing to accept the final word of an attorney - just because they were attorneys.

Of course, Deutsche will blame the law firms and the law firms will blame Deutsche when the judges wake up. But the problem is, they won't go back far enough into the chain of command to find the real perpetrator of the whole sorry scheme - the servicer who rolled that little snowball off the edge of the mountain.

We still have to get to the root cause of all of this, and that is to put some effective servicing oversight in place. If we take the profit out of predatory servicing it will die.

Moose

Quote 0 0
Blossom
Quote:
If we take the profit out of predatory servicing it will die.

The profit needs to be taken out of over leveraged credit derivatives as well.
Originally designed to transfer risk Credit Default Swaps have become a lucrative vehicle for speculation.  Absent any regulation thanks to lobbyists and no firewalls between traders and servicers these over the counter bets on CDO defaults are easily rigged.  Investors and stockholders need to take notice that all the writedowns we're seeing are not mortgage defaults but betting losses.  Servicers are suppose to work for investors but in the end its investors as well as homeowners who get $krewed.
Quote 0 0
Write a reply...