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
Sandy
Could this be? Interesting article yesterday says yes.

http://www.mortgageservicingnews.com/msn_features/-1024689-1.html?ET=mortgageservicing:e1256:94669a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=MSN_Bulletin_051011

According to speakers at the Mortgage Bankers Association’s National Secondary Market Conference in New York, litigation costs can be so high that such risk may motivate servicers to avoid related losses by blocking foreclosures.

Separate provisions of Dodd-Frank address servicing more directly, but as it relates to originations the big issue is defense to foreclosure, said Lawrence Platt, a partner at K&L Gates, Lawrence Platt. “It will be felt by servicers because they are the ones who will be foreclosing.” It is particularly challenging for the mortgage servicing companies that did not originate the loan because they will have to defend foreclosures against claims related to originations about which they do not have enough knowledge. These challenges are powerful enough to ultimately “put a stop” to foreclosures.



Quote 0 0
Community banks and credit unions believe over one thousand of their kind will cease to exist, thanks to what they see as over-regulation from the Dodd-Frank Act. Regulatory power unchecked - that's what the ABA calls the big Dodd-Frank gun in the CFPB's hands. Will the CFPB offer a small bank Rapture, personalmoneystore.com/moneyblog. Though the organization is slated to launch July 21, the CFPB still doesn’t have a permanent chairperson in place. Elizabeth Warren will likely be nominated by President Obama, but numerous lawmakers who support the banking industry have attempted to derail the Warren nomination.  Elizabeth Warren was one of the first people to sound the alarm about the economic fragility of the average American. She is a strong advocate for the average person not the big banks, corporations, politicians, and the most powerful Americans.
Quote 0 0
austrinB
The more small banks that shut down, the fewer capital sources remain available. This is passed on to consumers in higher rates and fees. The banking conglomerate insists that when the CFPB begins enforcing new Dodd-Frank Act laws concerning loan disclosure and transparency this summer, the costs of bureaucracy will send 1,000 community banks and credit unions to their doom. Regulatory control unchecked - that's what the ABA calls the large Dodd-Frank gun in the CFPB's hands.
Quote 0 0
Write a reply...