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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Concerning the FTC wanting complaints from EMC customers:

 We are in foreclosure now because EMC would not modify our loan 2 years ago. Our lawyer asked for discovery. wanted to know how they were applying our payments. Its been 8 months, and the case was taken off the active court docket in March 2009 to give them extra time.  They still have not produced anything and now all of a sudden want to come to a reasonable modification with us.  My question is 2 years ago they said they had no authority to modify our loan (after they took our money and we completed a 12 month agreement and money down), now they do?  which one is it?  I really don't want to sign anything with them. Any chance that they want this out of the courts because of the FTC?
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Honest Help

caroline57 wrote:
Concerning the FTC wanting complaints from EMC customers:

 We are in foreclosure now because EMC would not modify our loan 2 years ago. Our lawyer asked for discovery. wanted to know how they were applying our payments. Its been 8 months, and the case was taken off the active court docket in March 2009 to give them extra time.  They still have not produced anything and now all of a sudden want to come to a reasonable modification with us.  My question is 2 years ago they said they had no authority to modify our loan (after they took our money and we completed a 12 month agreement and money down), now they do?  which one is it?  I really don't want to sign anything with them. Any chance that they want this out of the courts because of the FTC?


Caroline57 your attorney is a good one. He/she is on the right track when they "wanted to know how they were applying our payments."<===THIS is where they are vulnerable. STAY on this particular mode -- Why do you suppose they haven't provided answers? You hit a raw open nerve Caroline!  

Do what this attorney says. Yours is a case that sounds more promising than most.


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Honest Help

caroline57 wrote:

Our lawyer asked for discovery. wanted to know how they were applying our payments. Its been 8 months, and the case was taken off the active court docket in March 2009 to give them extra time.  They still have not produced anything and now all of a sudden want to come to a reasonable modification with us. 


Caroline your lawyer appears to be a good one and is certainly on the right track by wanting to know how your payments have been applied. Make sure you also ask for all corporate loans, advances, suspense accounts, etc. This is where many of the bodies are buried. Be especially forceful on the payoff amount if it is followed by some caveat that the payoff "may have other charges added on." (Quite common and not a red flag in itself.)  Also ask what categories the final additional charges might be if your loan was paid off now. Remember any defects you find in their loan history will have significant ripple effect bonuses for you i.e. less interest, late fees, etc.
 
     And keep those payments current.
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h gosh
Make sure you establish how they treat a payoff.  If it is considered a "partial" payment, they can add on all sorts of fees as they park it in suspense until THEY decide to pay off your note.  Knowledge from FTC v. Fairbanks FOIA documents.
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Honest Help

Caroline here's two more areas that are likely to help you:

 

1) Be thorough in looking through your loan history for add-ons like "Inspection Fee" and the like. Virtually all mortgage fraudsters abuse this area. Many of these fees are grossly overpriced drive-by inspections and even intentional fees for “inspections” that never even occurred!  Is that a crime?  Sure, but the burden is on the customer to find it then prove it.

 

2) It is also common practice among servicers to actually hold payments until a late charge can be generated. The mainstream is for the most part unaware of this blatant tactic because they have trouble believing the realities of just how fraudulent mortgage servicers can be. Keep well documented records of when your payment was actually made.

 

What state are you in Caroline?  Do you live in the east?

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First off- Thanks to all for the advice. I'm in Ohio. My lawyer said that they do have the authority to modify the loan. I told him that for the last 5 years- they have said different and I want some proof that they can because they have lied before. Their lawyer is unable or unwilling to come up with any figures, so to me that says that something fishy is going on with our note. Right now our lawyer is going back to them and asking for what they say my balance is. The banks seem to own the courts and he is afraid that we may get the note reduced but that the foreclosure will still go ahead at a lesser amount. We do not have the option of a mediator in the courts so this would be it. So, I am waiting to see what they come back with as my total and my lawyer is deducting from there- We have found bogus property preservation fees, insurance and property taxes paid late. I'm on these people like a duck on water!!!   They picked the wrong person to screw with. I've lived in my house 20 years, I had to put the 20% down payment and had no mortgage problems until EMC bought my loan from the FDIC. Once. again everyone thanks for the input.

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h gosh
You state EMC bought the loan from FDIC?  DEMAND to see the original note, along with all allonges.  Ask your attorney to check Ohio law to see how allonges can be attached to a note.  As an example, in NY State, allonges MUST BE PERMENANTLY attached to the Note. Years ago, the were actually sewn on, today staples, covered with tape is permissable.  Other states may state that allonges must be on the reverse of the note.  Check to read the PSA.  Check the trust, it may no longer exist, or may have been resecuritized, or your note may have been rebundled into a synthetic swap.  Come back with any questions you have.
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Honest Help

h gosh: Although there is supporting precedence for both views, in general unless there is something material Caroline strongly believes to be bogus on the copy of the note the Court is not usually going to be sympathetic to demands for the original note.. That is especially true if the note is already well into the foreclosure process.  

 

Caroline: Your lawyer is correct again. Barring some extraordinary unmentioned circumstances they (Likely Bear Stearns/EMC now owned and controlled by JPMorgan) do have the authority to modify the note regardless of prior conflicting input from them.  Good News: JPMorgan set aside $6B in negotiations with Bear to handle cases like yours. Bad News: Bear lied to and deceived JPMorgan.  In the clean-up transition period the Bear/EMC corporate hull was simply telling their victimized customers “Sue us” in an effort to clear their desks on the way out the door. Would they have knowingly previously lied to you?  Absolutely, why do you think so many of these scoundrels are being rounded up? As I’ve mentioned before it appears on the surface that you are blessed with a good attorney to handle a serious situation. DO WHATEVER YOUR LAWYER SAYS* regardless of what you hear from well intentioned friends or even savvy sounding “advisors” (like me) on the internet.

1)   What was the thing(s) that triggered the foreclosure process?  Did they give you legal warnings?

2)   Are your payments current? If not, how many payments behind do they currently show you to be?  h gosh is correct; anything that can be construed or manipulated into a partial payment is potential trouble.

3)   Have you found some significant errors forming a pattern that all worked to their benefit?

 

* Another good attorney on the sideline is not nearly as good of a source as your own attorney who knows all the details.

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The plaintiff is LaSalle Bank. Assignment after we were served the foreclosure papers.  I know the 1st lawyer put that thru and claimed the instrument was dated 11/07.   FDIC shut Superior Bank down in 2001. We started w/ Superior in 1998.Got nothing from Superior just a welcome to EMC(which at the time I thought was part of Superior Bank.) My worry is if we do a loan mod with them- Can LaSalle, JP Morgan Chase or whoever come back after and foreclose again? What triggered the foreclosure is our refusal to give them one more dime. They wanted more money and another 3 month forebearance. Why do we have to live up to our end of the bargain and they don't?

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h gosh
I had a gut feeling you were a Superior victim.  Would that also be Alliance?  If so YOU MUST DEMAND THE NOTE.  Here is the twist.  When the FDIC took over Superior, they also took the "residuals" that Superior held on the trusts.  Meanwhile, Alliance used the "mortgages" as "collateral" for funding to pump onto Superior's books.  If you look at the FDIC/Superior docs, it is clearly spelled out that the FDIC DID NOT HAVE the majority of the notes.  Therefore, what was securitized is questionable, what LaSalle is Trustee of is questionable, and who holds the note is questionable. Please research this.
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Caroline,

Welcome fellow Ohio-an. There are some interesting things in your case that are coming to light with the more you write. Please be careful with any modification. The court forced us to mediation only to find the other party had no proof of ownership, so back to court we go.

If you have your attorney look in the Legal Lounge on this site there are hundreds cases in Ohio that have to do with standing, note ownership, and many other facets of what you are describing. More particularly have them look at the document that is called "Cases dismissed for lack of standing". Half way down starts the Ohio section of the cases.

Also if you'd like, have your attorney email me through the site and I will provide any assistance I can with my own research and pro se work. I am NOT an attorney, I do not give legal advise, and I do not wish to give you false hope. Your attorney seems hip to the new wave of foreclosures here in Ohio and if I can help I will try.

 
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h gosh;

How can I find out if a trust no longer exists? With the SEC the last filings were dated in 2007. Does that mean that it no longer exists????

Thanks,    cmc
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Digger
caroline57:

DEMAND EMC/LaSalle provide the original note. They do not have it and therefore the court does not have jurisdiction and must dismiss.  Don't get caught up in side issues.  Attack the jurisdiction and win.  No note = no debt = No foreclosure
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hgosh
Please let me respond briefly...I guest learned of the death of another dear friend, so...First tell us what trust you are in...Second, go the the SEC site and see why you believe the trust doesn't exist..or are they not required to report anymore?  Third, check Fitch to see if SACO "bought" the trust.  I will post more, but right now I need time to grieve.

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H Gosh,

Our PRAYERS are with you. While I know your probably heartbroken by your friend passing Please try to keep Positive thoughts they wouldn't want you distraught with their passing. I know this probably means diddly but I hope it helps bring PEACE of MIND....

Be Blessed,

Kathy
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hgosh,

I am deeply sorry for your loss.....

I do appreciate your response. When you are ready we can talk about this. But at this time you need to relax.

The trust I am in is: Lasalle Bank National as Trustee for Ownit Mortgage Solutions, Asset-Backed Certificate Series 2006-4.

Thank You
cmc
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hi, i would like to find out more about superior fdic esp the lost notes issue can you give me more info where to find on net thanks

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Amanda
As far as I can see, a lot of people had problems with EMC Mortgage. Sorry to hear about this, but personally I have very positive experience. I read about them on http://emc-mortgage.pis sedconsumer.com/. And contacted them. After negotiation, they made my loan modification and now my interest rate is 13% lower. I advice my friends to deal with them too.
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Wonderer
13% lower interest rate. That would equate to many being paid interest.
Nice try.

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Brindy
Amanda,  did your boss at EMC ask you to make this post or did you do it on your own?  If you were asked, hopefully you were paid, as those in the oldest profession are certainly entitled to a profit.  If you did it on your own, seek counseling, there are drugs available for your condition.

If neither of the above conditions apply - well, then sooner or later you will be on the other end of your own trash.



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