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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FTC Settles with EMC Mortgage
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Thanks Ed, Long time coming.

Federal Trade Commission, Plaintiff, v. EMC Mortgage Company, a Delaware corporation, and The Bear Stearns Companies LLC, a Delaware limited liability company, Defendants

(United States District Court for the Eastern District of Texas)

Civil Action No.: 4:08-cv-338;
FTC File No.: 062 3031

September 9, 2008



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Why only 28 million? This smells just like the Faribanks case.
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Sure does, only worst.

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connect the dots

another case wherein the ftc settles for peanuts effectively letting them off the hook.

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H. Gosh
Don't forget, the FTC thought it was far better that homeowners loose their homes than Fairbanks go into Bankruptcy.  The FTC also used an expert to decide if the monetary compensation paid to the victims of outright theft was adequate, and the "expert" decided that the victims were doing pretty good receiving pennies on the dollar - she used "shareholders in SEC settlements" as examples. 

The bottom line:

U.S. Citizens lost their homes through no fault of their own due to the criminal behavior of Fairbanks.
Many U.S. Citizens entered into Bankruptcy in an attempt to save their homes, destroying their credit for years to come.

FAIRBANKS and PMI are alive and well!!

Makes you feel all warm and fuzzy, doesn't it.
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Another example of the Rothschilds glue on american and world banking system.
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Miss Molly
Yes- Finally the FTC did something--

Many of us were Superior Bank Loans & were sold to these wolves by the FDIC.

So it looks llike the FDIC screwed us once
& now the FTC is going to have a go.  <<rolling eyes>>
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