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
Now, we'll see some criminal indictments.

Foreclosure-document mess growing, FBI now involved

Foreclosure-document mess growing, FBI now involved

New York courts will become the first in the United States to require lawyers handling foreclosures for banks and servicers to take steps to ensure the procedure is done properly, the state’s top judge said on Wednesday.

Agency looking into whether industry has broken criminal laws news services

updated 1 hour 21 minutes ago 2010-10-20T15:38:09

WASHINGTON — The foreclosure-document crisis just keeps on growing, and now the FBI is getting into the fray.

A federal law enforcement official told the Associated Press that the agency is in the initial stages of trying to determine whether the financial industry may have broken criminal laws in the mortgage foreclosure crisis.

The official said the question is whether some in the industry were acting with criminal intent or were simply overwhelmed by events in the wake of the housing market’s collapse. The official spoke on condition of anonymity because the investigation is just getting under way.
Quote 0 0
Damn the FBI just getting involved in this mess?
Gee, what ever happened to the two FBI agents that briefed former President Bush in 2002?
Where did the notes taken from my own three separate interviews by FBI agents go?  And the U.S. Attorney in Milwaukee from 2005?
mmmmm Just getting involved now?   maybe being forced to wake up before violence breaks out over this, the rule of law either will works as well for victims, as it does banks and servicers, or the rule of law is dead.
There can not be two sets of laws on perjury, and fraud on the courts themselves.  The judges should be holding the lawyers themselves accountable!  They have the power.
Quote 0 0
The FBI was too busy looking for al Queda behind every bush and telephone pole to have time to mess with financial terrorism in country. Better late than never.

As for holding lawyers accountable:

NY Courts to Hold Foreclosure Lawyers Accountable

The New York State court system today instituted a new rule regarding residential foreclosures in light of the ongoing robosigning accusations.

Going forward, plaintiffs will be required to file an affirmation form certifying that they have taken “reasonable steps – including inquiry to banks and lenders and careful review of the papers filed in the case – to verify the accuracy of documents filed in support of residential foreclosures.”

We cannot allow the courts in New York State to stand by idly and be party to what we now know is a deeply flawed process, especially when that process involves basic human needs – such as a family home – during this period of economic crisis,” said Chief Judge Jonathon Lippman, in a statement.

“This new filing requirement will play a vital role in ensuring that the documents judges rely on will be thoroughly examined, accurate, and error-free before any judge is asked to take the drastic step of foreclosure.”

The affirmation form must be submitted for both new and pending cases, so it could lead to the overturning of foreclosure decisions or simply delay the inevitable for others.

The issue focuses on the use of so-called “robosigners,” employees and agents who signed off on hundreds or thousands of foreclosure documents in a short amount of time on behalf of mortgage lenders nationwide, essentially proving they didn’t do their due diligence or follow protocol.

These widespread deficiencies led all 50 state AGs to launch a national foreclosure probe, and resulted in various foreclosure moratoria, including a nationwide foreclosure freeze by Bank of America and a partial ban by GMAC.

However, both have already announced their intention to restart foreclosures after an internal review of their processes revealed no wrongdoings.

Quote 0 0
Write a reply...