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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Ed Cage
Cautious in MA wrote:
“Our mortgae was also sold to EMC back in April. I have been very concerned after following this forum, but I have had no problems at all. I immediately set up my account to pay online and always paid on the first of the month. No problems whatsoever. Last month our mortgage was sold again so we are not dealing with EMC anymore. Hopefully the end of our worries....”

Ed asked: “Who did EMC sell your note to?”

Cautious in MA answered:
“It was sold to Carrington Mortgage Services, who, after doing some research, I learned also bought New Century Loans after it went bankrupt.”


"Carrington Mortgage Services" and "New Century Loans?"

Thanks Cautious in MA. That is very interesting information.

Ed Cage



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Why do YOU copy posts from other forums and put them here? 
They just make it more difficult for people trying to get at much needed help
and information.  Anyone Googling their servicing predator will turn up topix forums. 

People come here to share information and to help each other.  Are you a mole, as has been previously suggested? or... Are you just here to disrupt this forum? 
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Ed Cage

Cautious in MA wrote:

It was sold to Carrington Mortgage Services, who, after doing some research, I learned also bought New Century Loans after it went bankrupt.



Dear Cautious in MA:

I just Googled up "Carrington Mortgage Services" and below is the series of horror stories from apparently unhappy Carrington customers.

Please see:,GGLD:2007-16,GGLD:en


This is consistent with what I suspected Cautious; Any account "sold" by EMC (Owned by Bear Stearns) is not likely to be shipped to an improved environment.  In addition to the multitude of extra gloomy testimonials regarding Carrington, the term "American Foreclosure Specialists" (afs) seems to be dominant.

Also please see:


(I would be very cautious if I was you and I'm not trying to be cute.)


Very sincerely,

Ed Cage

Plano TX


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Hey Mister Ed,
Forget Google. This forum has a search option.
Did you know that?  If you used it you would also know:
Carrington Capital Management LLC, led by former Salomon Brothers mortgage trader Bruce Rose, paid $188 million last month in a bankruptcy auction for New Century's servicing unit. The fund raised its bid from $139 million after Morgan Stanley and two other firms joined in the auction.

Much of what we are now experiencing goes back to Salomon Brothers.  Do you know who they were? and what they did?  Does Lewie Ranieri mean anything to you?  Mr. Ed., may I humbly submit that in order to grasp what is going on today you need to fully understand the mentality of Salomon traders in the late 80's.

You may not be a mole.  You may just have "issues to work out" but I sure as hell wish you'd do it someplace else. 
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Ed Cage

SweetP wrote:

"I currently work for Chase Home Finance in Texas. Due to the decline in the subprime market, I actually have many colleagues that ended up working for EMC.. some for short term and some who have been there a long time. Most who were short term did express that the place is a total 'train wreck'.. with the left hand ignorant of what the right hand is doing. Those who have some tenure are in departments where there is no benefit to do anything unethical.. so they just keep plugging away, happy to still be employed with the mortgage industry taking such a hit this year.
I will, however, put this word out to anyone who reads this..
I have been in mortgage for over 9 yrs, in many capacities. In working for several companies, I would whole heartedly say that Chase is by far the best at customer service. That is from originating the loan.. through payment collection.. up to customer assistance for those struggling to stay in their homes due to financial hardships.
If anyone reads this is interested in the possibility of refinancing, away from EMC.. please reply to this comment.. and place your top line in ALL CAPS .. stating.. INTERESTED IN CHASE REFI!!!
I will check back on this forum to see if there is anyone out there who needs help..and if we can offer a workable solution. I am a single parent of two kids.. and have endured my own hardships.. including a mortgage servicer with unethical practices..
Good luck to each of you dealing with this nightmare.. Sincerely, SweetP"


Dear Sweet P:
I am happy to report that I too had a similar pleasant experience with Chase for 26 years. I have already posted this multiple times but I'll say it again because Chase earned it: I wish to God I had gone with Chase's slightly higher interest rate instead of the sleaze ball meat-grinder I got into with Town & Country who promptly sold the note to AMC and arch mortgage fraud criminal James Brantley now with Citi Residential.

I had slightly higher rate offers with Chase and Legacy Bank and I wish I had taken one of them. Chase had a proven 26 year record with me and I had no idea that criminals like Bear Stearns, EMC and AMC even existed.

Mr Ed Tips:

1) With the current huge personnel upheaval (See Sweet P quote above) in the mortgage industry which is fraught with corruption there is a great likelihood of substantial new "whistle-blowers." Guarded secrets which were known but not proven will be *documented* in 2008 by jolted and disgruntled employees.  (Keep payments current if at all possible.) If your case goes too far you may not be able to benefit from the upcoming employee revelations.

2) As many know by now, the lowest interest rate is often not as important as *integrity*



Older but wiser,
Ed Cage


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