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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William A. Roper, Jr.
Conclusive proof today that Dilbert works for a mortgage servicer:

http://dilbert.com/strips/comic/2011-05-04/


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Bill
As funny as this is, I think this is exactly what the servicers found out.  If we add enough fees, forced place insurance, extra escrow, and other fictional expenses when they foreclose on a home and sell it the SERVICERS get to keep all the proceeds.  100% profit from foreclosures.  Nothing left to transfer to the investors.

Why modify a loan when you are going to keep ALL the money from a foreclosure and you did not advance any money for the purchase of the home?
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Years ago I concluded that when servicers realized that payments were being posted late because they were using lock boxes and third party vendors to post the payments they knew the system was broken.  However they also realized that the broken system was a great profit center, so why fix it.

Nice to see that Mr. Roper does in fact have a sense of humor. 

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