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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Federal Trade Commission: Loan Securitization Audits Are Scams

I see consumers all time who have been scammed and suffered as a result of the lies and fraud and crimes by con artists who victimize consumers, time for people to wake up…here’s what the FTC says:

Fraudulent foreclosure “rescue” professionals use half-truths and outright lies to sell services that promise relief to homeowners in distress. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, the latest foreclosure rescue scam to exploit financially strapped homeowners pitches forensic mortgage loan audits.

In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors, mortgage loan auditors, or foreclosure prevention auditors backed by forensic attorneys offer to review your mortgage loan documents to determine whether your lender complied with state and federal mortgage lending laws. The “auditors” say you can use the audit report to avoid foreclosure, accelerate the loan modification process, reduce your loan principal, or even cancel your loan.

Nothing could be further from the truth. According to the FTC and its law enforcement partners:

  • there is no evidence that forensic loan audits will help you get a loan modification or any other foreclosure relief, even if they’re conducted by a licensed, legitimate and trained auditor, mortgage professional or lawyer.
  • some federal laws allow you to sue your lender based on errors in your loan documents. But even if you sue and win, your lender is not required to modify your loan simply to make your payments more affordable.
  • if you cancel your loan, you will have to return the borrowed money, which may result in you losing your home.

If you are in default on your mortgage or facing foreclosure, you may be targeted by a foreclosure rescue scam. The FTC wants you to know how to recognize the telltale signs and report them. If you are faced with foreclosure, the FTC says legitimate options are available to help you save your home.

Spotting a Scam

If you’re looking for foreclosure prevention help, avoid any business that:

  • guarantees to stop the foreclosure process – no matter what your circumstances are
  • instructs you not to contact your lender, lawyer or credit or housing counselor
  • collects a fee before providing any services accepts payment only by cashier’s check or wire transfer
  • encourages you to lease your home so you can buy it back over time
  • recommends that you make your mortgage payments directly to it, rather than your lender
  • urges you to transfer your property deed or title to it
  • offers to buy your house for cash at a fixed price that is inappropriate for the housing market
  • pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand.
Finding Legitimate Help

Housing experts say that when you’re behind on your mortgage payments, maintaining communication with your lender is the most important thing you can do. Contact your lender or servicer immediately if you’re having trouble paying your mortgage or you have received a foreclosure notice. You may be able to negotiate a new repayment schedule.

Call 1-888-995-HOPE for free personalized advice from housing counseling agencies certified by the U.S. Department of Housing and Urban Development (HUD). This national hotline – open 24/7 – is operated by the Homeownership Preservation Foundation, a nonprofit member of the HOPE NOW Alliance of mortgage industry members and HUD-certified counseling agencies. For free guidance online, visit http://www.hopenow.com. For free information on the President’s plan to help homeowners, visit http://www.makinghomeaffordable.gov.

To learn more about home mortgages and other credit-related issues, visit http://www.ftc.gov/MoneyMatters. This site offers short, practical tips, videos, and links to reliable sources on a variety of topics from credit repair, debt collection, job hunting and job scams to vehicle repossession, managing mortgage payments and avoiding foreclosure rescue scams.

Reporting Fraud

If you think you’ve been dealing with a foreclosure fraudster, contact:

The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

ftc

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Floyd

It is good to see that the Federal Trade Commission is beginning to finally realize what Mr. Roper has been showing us all along, that swindlers like Neil Garfield, Mike H., Chris Dix and others peddling bogus debt elimination scams and foreclosure rescue scams are simply criminals preying upon distressed borrowers!

 

I am also glad to see that Matt Weidner is finally posting about this.

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Ann, thank you for this information I already received my check from the FTC and though very little of that. pennies on a dollar that is what we got. I am very skeptical about an independent review of my loan..

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Manny

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Ann, thank you for this information I already received my check from the FTC and though very little of that. pennies on a dollar that is what we got. I am very skeptical about an independent review of my loan..  
 

 

Here we are back to trolls spamming for new swindle victims.  The FTC doesn't issue "refunds" to scam victims.

 

"malibu" seems to be a swindler who is going to use a confidence scam.  Someone reading the post will e-mail "malibu" at the given e-mail link to learn how to obtain a "refund" from the FTC.

 

"malibu" will profess the importance of anonymity, but will confide in the mark/stooge/pigeon that "malibu" has received a generous refund from the FTC through a special program known only to his confederate, the swindler, who will turn out to be someone like Mike H., Chris Dix, another similar swindler or one of their many confederates ("malibu" is probably actually the swindler merely using another e-mail address).

 

The mark/stooge/pigeon will then be told that for a modest sum, Mike H. (or another swindler) will prepare an application for a refund for the mark/stooge/pigeon to mail directly to the FTC.  The con artist will not want to send the document directly to the FTC, because this would be U.S. Mail fraud, subject to investigation by Postal Inspectors. 

 

Instead, the mark/stooge/pigeon will be encouraged send a money order or send digital cash to an anonymous e-mail address via PayPal.  Then the swindler will send a document (unlawfully prepared) via e-mail from an undisclosed location.   The mark/stooge/pigeon will send the "claim" to the FTC and will be surprised when they never get a dime.  The swindler will assure the mark/stooge/pigeon that the FTC is merely corrupt/dishonest/incompetent.

 

In this way, the swindler takes the FTC notice about scams and uses this as a pretext for yet another scam!

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For your information MR. Manny, I am not a swindler nor do I like the reference that you made to my character. You do not know me and I do not lie!!!.. I DID receive a check from the FTC it was based on EMC paying back some of the fine that was imposed on them for illegal charges made by them on my mortgage. It was a base amount of 197.00 and in my opinion a joke.. My story is on this web site and for your information I HAVE received alot of help from many people on this site. I do not want anyone's money and would not take a dime. You Sir are an A$$!! GO GET A LIFE !! Don't judge a comment if you do not know what you are talking about.
Ann.. THANK YOU AGAIN..  I receive this Independent Foreclosure Review and it looks too good to be true. Hope all is good with you..
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Chuck

This thread seems to be about the fact that loan securitization audits are scams.

 

Whether or not you received a refund from the SEC as you claim, it is helpful that the FTC is alerting people to this scam

 

It is clear that Neil Garfield and many others continue to victimize distressed borrower through the sale of useless loan securitization audits.  Getting the word out about this scam is important.

 

If the purpose of your post is to question the validity or authenticity of the FTC's caution, then I certainly understand why Manny is questioning your motives.  Rather than posting the nonsense you did, you could do some real good by taking the FTC link and Mr. Weidner's post and re-posting it on as many foreclosure defense web sites as you can.

 

(You may be assured that Neil Garfield will be removing your posts as quickly as they go up on Living Lies, because any truthful posts about the scam would be contrary to the theme of his site, which after all is about "Living Lies".)

 

The central Living Lie which underlies all of Mr. Garfield's posts is that he has any interest whatsoever in the welfare of distressed borrowers.  He does not.

 

The second central Living Lie is that anything he is selling would actually aid or be of benefit to borrowers.  These products are useful only in lining Neil Garfield's pocket.

 

Since the FACT that loan securitization audits are scams is NOT a Living Lie, Mr. Garfield can rightfully remove informative posts exposing the fraud since these posts would be truthful rather than Living Lies and therefore have no place on his site. 

 

Do you think your claims about the FTC are perhaps more consistent with the theme of Mr. Garfield's site rather than the more truthful purposes of the MSFraud Forum? 

 

(I will take a look at a few of these other sites.  If I see new and informative posts going up by Malibu alerting people that loan securitization audits are a scam, then I will conclude that perhaps you really have the best interests of borrowers at heart.  By contrast, if you continue to make posts that seem to challenge this central tenet of this thread, then it will be clear that you are as Manny suggests just some sort of troll working for the swindlers.)

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Chuck,  I am a victim who has been helped so much by the people on this site for the last 6 years I having been battling EMC.. It has been a struggle
I am not a swindle and I resent Manny accusation. I only ask about the Independent Foreclosure Review it came at Christmas time and I have been putting it off . I just wanted to see if any one else has sent theirs in and if they got a response. Ann posted about the Scam and I am afraid that is what this is, but what if it isn't??? it would help me alot to have this done.. Think what you want about me ... I just wanted an answer to my question and I got it from Ann.. I Did get a check from the FTC and I ran to the bank and cashed it because it said I had a deadline on which I could cash it.. I am not on this site alot because I don't care to be it is depressing to think that certain things I talk about may someday be used against me. My Philly Lawyer said not to talk on here about anything the Internet has BIG EARS... and I am still in my house and still fighting ...
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Unregistered

It is to Matt Weidner's credit that he posted this, even though he is only a mediocre lawyer.

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Unregistered
Unregistered wrote:

It is to Matt Weidner's credit that he posted this, even though he is only a mediocre lawyer.


This article was posted at MS Fraud a week before Matt Weidner added his comments and added it to his website.  Maybe he follows this forum.  

ALABAMA Appelate Court Deals Death Blow to Thousands of Foreclosures

Bill
    01/27/12 at 05:21 PM#8

The same applies to securitization audits.

http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm

FTC Consumer Alert

Forensic Mortgage Loan Audit Scams: A New Twist on Foreclosure Rescue Fraud

Fraudulent foreclosure “rescue” professionals use half-truths and outright lies to sell services that promise relief to homeowners in distress. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, the latest foreclosure rescue scam to exploit financially strapped homeowners pitches forensic mortgage loan audits.

In exchange for an upfront fee of several hundred dollars, so-called forensic loan auditors, mortgage loan auditors, or foreclosure prevention auditors backed by forensic attorneys offer to review your mortgage loan documents to determine whether your lender complied with state and federal mortgage lending laws. The “auditors” say you can use the audit report to avoid foreclosure, accelerate the loan modification process, reduce your loan principal, or even cancel your loan.

Nothing could be further from the truth. According to the FTC and its law enforcement partners:

  • there is no evidence that forensic loan audits will help you get a loan modification or any other foreclosure relief, even if they’re conducted by a licensed, legitimate and trained auditor, mortgage professional or lawyer.
  • some federal laws allow you to sue your lender based on errors in your loan documents. But even if you sue and win, your lender is not required to modify your loan simply to make your payments more affordable.
  • if you cancel your loan, you will have to return the borrowed money, which may result in you losing your home.

If you are in default on your mortgage or facing foreclosure, you may be targeted by a foreclosure rescue scam. The FTC wants you to know how to recognize the telltale signs and report them. If you are faced with foreclosure, the FTC says legitimate options are available to help you save your home.

Spotting a Scam

If you’re looking for foreclosure prevention help, avoid any business that:

  • guarantees to stop the foreclosure process – no matter what your circumstances are
  • instructs you not to contact your lender, lawyer or credit or housing counselor
  • collects a fee before providing any services accepts payment only by cashier’s check or wire transfer
  • encourages you to lease your home so you can buy it back over time
  • recommends that you make your mortgage payments directly to it, rather than your lender
  • urges you to transfer your property deed or title to it
  • offers to buy your house for cash at a fixed price that is inappropriate for the housing market
  • pressures you to sign papers you haven’t had a chance to read thoroughly or that you don’t understand.
Finding Legitimate Help

Housing experts say that when you’re behind on your mortgage payments, maintaining communication with your lender is the most important thing you can do. Contact your lender or servicer immediately if you’re having trouble paying your mortgage or you have received a foreclosure notice. You may be able to negotiate a new repayment schedule.

Call 1-888-995-HOPE for free personalized advice from housing counseling agencies certified by the U.S. Department of Housing and Urban Development (HUD). This national hotline – open 24/7 – is operated by the Homeownership Preservation Foundation, a nonprofit member of the HOPE NOW Alliance of mortgage industry members and HUD-certified counseling agencies. For free guidance online, visit http://www.hopenow.com. For free information on the President’s plan to help homeowners, visit http://www.makinghomeaffordable.gov.

To learn more about home mortgages and other credit-related issues, visit http://www.ftc.gov/MoneyMatters. This site offers short, practical tips, videos, and links to reliable sources on a variety of topics from credit repair, debt collection, job hunting and job scams to vehicle repossession, managing mortgage payments and avoiding foreclosure rescue scams.

Reporting Fraud

If you think you’ve been dealing with a foreclosure fraudster, contact:

The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

March 2010

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Unregistered

Ann:"The material posted on this forum is for information and entertaining purposes only."

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Unregistered
Unregistered wrote:

Ann:"The material posted on this forum is for information and entertaining purposes only."


Maybe Ann feels it's "entertaining" to watch people copy the legal pleadings she posts here and on Scribd without understanding what they are saying or mean, then lose their house. 

While she may sleep fine at night because she posted to find an attorney, this isn't legal advice, for informational purposes only, or any other kind of disclaimer, posting these uneven pleadings as correct, effective, examples when she is not even sure if they are is doing homeowners a HUGE disservice.  

This is akin to leaving a loaded gun on a coffee table in a room full of 5 year olds and telling them not to touch the gun as you go to the store.  When the county coroner shows up she can claim "I told them not to touch it".  

You will notice that Mr. Roper, George, Bill, CMC, Moose, and all the active posters never post examples of pleadings.  They all just attempt to explain the concepts as best they can.

At least after copying Ann's examples the homeowner can say "I lost just like the attorney that prepared the example did".

It's pretty interesting that Ann often "attacks" the "people who want to play lawyers" because they are simply trying to explain the uneven material Ann posts so homeowners understand.    
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Unregistered
Unregistered said: "You will notice that Mr. Roper, George, Bill, CMC, Moose, and all the active posters never post examples of pleadings.  They all just attempt to explain the concepts as best they can."

As another said, read, listen, learn and apply what you understand.

Would this be an example of trying to explain,

Actual Notice v Constructive Notice

MERS provides Actual Notice between Parties as to Negotiation & Priority of the Negotiable Instrument

MERS Does Not provide Constructive Notice to the World as to assigning a Lien

Deed of Trust, i.e.


The MERS registry does provide actual notice to all MERS members as to when a note is negotiated. However, the MERS registry does not provide constructive notice to the world that an assignment of the lien was assigned. The recording statutes were derived in past in part to obliterate secret contracts and prevent fraud. Could it possibly be argued that the MERS registry is the wheel to allow for the return of secret contracts?  As an Obligor of a secured note would also be the Grantor of the lien (Deed of Trust) to secure the note, such Obligor and the world would lack constructive notice that the lien has been assigned to a party that can be lawfully identified of record. Without notice the lien has been assigned, the Obligor of the note would not know if payments were being made to the owner of the note. Where the Obligee is the owner of the note as identified of record, an Obligor would have assurance that Obligor’s payments are being directed to the correct party. Where the record is void of  proper secured party of record, the owner of the note not being identified of record would be limited to taking judicial actions limited to the note. Where a subsequent owner of the note is not identified of record as a secured party, the subsequent owner of the note by their own inaction, or inaction of their agent, by not filing of record has deprived themselves of the instrument needed to exercise a foreclosure (Power of Sale.) Where MERS may work for the note, MERS is not a legal replacement for public records and as for foreclosing, the act of exercising a foreclosure requires that both contracts, (Note and Deed of Trust) be enforceable and enforceable by the correct party’s..

 In short, the MERS registry as a closed system does not provide constructive notice to the world to be sufficient to replace filing of public record.

 So the question is: As the grantor and the world is without both actual and constructive notice of a Deed of Trust being assigned from A to B to C to D, is the Deed of Trust enforceable in regards to party D?

 MERS registry members might be able to resolve their priority issue regarding payments to the note by virtue of the MERS registry, but the MERS registry does not provide notice sufficient to perfect a subsequent party as a secured party with rights to a lien (Deed of Trust.) Even though UCC Article 9 does not apply to real estate liens as noted in §9-109(d) (2) a lien, other than an agricultural lien, given by statute or other rule of law for services or materials, but Section 9-333 applies with respect to priority of the lien;...

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Angelo
Listen I know Ann's heart is in the right place!  Since 95-98% of foreclosure's are won through default judgements for the plaintiff's, just answering the complaint is half the battle.  If a homeowner uses some bad pleadings or answer, instead of nothing, at least they can delay the foreclosure for an extended period of time.  And in this time, they might be able to learn more and amend their pleadings. 

I've been here for awhile now, and it seem that some posters have been getting very hostile ever since Mr. Roper left.  Not sure what thats all about, but I dont see how that helps anybody.
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Texas
Angelo
Roper does visit the forum now and then and as the U S Constitution allows each to speak as they wish, one can choose to listen or not, but the listener has the same right to speech.

Even I do not agree with all posted but I abide by the right of free speech.

Ignorance can only be eliminated by learning to identify the difference between real and imaginary and applying what is real.

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Angelo
@Texas
You are 100% correct, and I chose to exercise my constitutional right to free speech! Nothing more. 
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cmc
Texas,

Ditto.......................

cmc
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Mortgage Fraud Examiners exposed the latest foreclosure rescue scam—“Securitization Audits." http://www.prweb.com/releases/2012/3/prweb9330918.htm
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http://www.mortgageauditsonline.com/tags/bad-loan-officers

thanks for sharing these valuable information.

I also want to share some,please have a look.

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