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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Can anyone address how a foreclosure can go forward in states were all assignments must be recorded to foreclose , if Fannie Mae never records ?   Idaho statute 45-1505(1) deals with this .  There are also cases in Oregon , one being ( Burgett v. MERS ) .    Thanks , CWW
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Moose
cww wrote:
Can anyone address how a foreclosure can go forward in states were all assignments must be recorded to foreclose , if Fannie Mae never records ?   Idaho statute 45-1505(1) deals with this .  There are also cases in Oregon , one being ( Burgett v. MERS ) .    Thanks , CWW


Two short answers - a lack of appropriate legal response to the filing, or, a judge that is willing to let the law be skirted because he or she sees these cases as nothing more than people don't get to live in a house without paying for it.

The courts are still divided on these things. There is one appeals ruling (9th cir in re: Veal) which basically says a borrower and therefore, the trustee in a bankruptcy shouldn't worry about who holds the note as long as they know who they're supposed to send their payments to. In other words, trust in the servicer adhering to RESPA.

Moose






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Thanks for your reply Moose ,    yes it seems like a lot of it just still has to be fought out in court .  Oregon seems to be holding Fannie Mae's feet to the fire with some of these  recent decisions and Hawaii too .  With all of the info. coming out about secureatized?  loans ,  it does make you wonder if you are paying the right person.  Then when the servicer assigns the note to itself  it gets even more interesting .   In these non judicial states it seems like banks just grabbing what they can before they are stopped .  We have tried and tried to get the bank to let us get back to  making the payment , but we can not afford all the extras they have added when we got behind from surgery .  We even told them we would make one and a half payments a month , but they seem more interested in foreclosing .  Idaho statute 45-1505(1) seems to not be mattering to Idaho officials, but maybe MERS not being able to assign notes will be enforced more in the future .   Thanks again, CWW 
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