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
TommyD
http://www.imfpubs.com/issues/imfpubs_imf/24_33/news/1000007311-1.html

Fannie Eyes Litton Loan Servicing

Sources close to Fannie Mae confirmed this week that the government-sponsored enterprise is looking at acquiring special mortgage servicer and loss mitigation expert Litton Loan Servicing. Litton, the 21st largest mortgage servicer in the country as of Jun. 30...

Quote 0 0
Ed

Someone has to buy them pretty quick because CBASS is insolvent and you can't do servicing without a credit line.

Quote 0 0
arkygirl
So, will Fannie look at what it is buying or will it buy a pig in a poke?

Will Fannie uncover the fraudulent loan originations and the fraudulent servicing practices that Litton employs? If it does, what will Fannie do?

Will Fannie ever be able to discover who really owns all the notes?

Will Fannie become responsible for all the pending lawsuits against Litton?

Is this corporate collusion to hide fraud? Fannie is just a company, not a part of the government. Of course, we all "sponsor" Fannie indirectly....

Will Fannie buy more servicers?

Whew! This deal reeks worse than a cesspit on a humid day in August! I vote "NO"!


Quote 0 0
Nye Lavalle
I dare the crooks to buy Litton! They will NEVER EVER hear the end of it from me and when they EVER hold an annual meeting, the ramifications along with the indy counsel they hired to investigate my reports will be a BIG BLACK EYE!!

I know they watch this site and all I do, so this one's for you Mr. Mudd. MAKE MY DAY and I will make yours!
Quote 0 0
Ok, thanks Nye.

It will happen though.

I'm NOT happy about it, but it will happen.

The MAC attack is ALL about this fraud, and WE ALL KNOW that that they are.

I, for one, am sickened by it.

Quote 0 0

I don't think they will buy it, the government has to approve it first, and besides the the only income sting that CBASS and MGIC/RADIAN have.  CBASS WILL GO! Litton will most likely remain until the courts take it away from Radian/MGIC for massive fraud.

Quote 0 0
Uggghhhh
From the Hillary Clinton 2008 website, her predatory lending platform includes the following:

"Hillary would expand the goals of Fannie and Freddie, the government sponsored enterprises (GSEs) that help stabilize the mortgage markets, to include helping a larger number of at-risk homeowners avoid foreclosure. This would be consistent with Fannie's and Freddie's existing goals that promote home ownership. The GSEs already help mitigate foreclosures by enabling some borrowers to swap into less risky, lower-cost loans. Fannie also helps homeowners arrange payment forbearance, financial counseling, and loan restructurings. Hillary will expand those initiatives to make foreclosure mitigation a greater priority."

So let me get this straight, the entity that Clinton claims is there to act in the best interest of homeowners is going to buy one of the most notorious villains of MSF? What then? Maybe they will put all the Litton victims into forbearance agreements!? That's sure to solve all their problems  Maybe they should buy the other villainous servicers too? Forbearance for everyone!   NOT
 
How is what they do any different than what the servicers do when they get caught with their fingers in the cookie jar? Forbearance agreements, loan modifications, loss mitigation ... nothing there about actually fixing the loans is there?
 
And Clinton wants to give them more power? Yeah that's a good idea...
 
 
Quote 0 0
Hey Uggggggg, Dont' you know that Hilary Clinton is at the head of the bash Bush front so if she were to pass  new laws to help us get away from these morons at HomEq and Litton ect.  then she can't turn around and say later "Look at all the homes that went into foreclosure during Bush's term.

SICK They need to get the darn politics out of this crap and help us real people out here with these servicing frauds.
Quote 0 0
I can't believe I have enough will power to refrain from saying anything more on this topic.

Ooops...I don't... Two words - White Water.
Quote 0 0
 
That's just to funny Mike! LOL
Quote 0 0
Write a reply...