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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First, an excellent and truthful website upon the activities of so called 'Third Party Servicers'. What is disturbing, is that before I came across this website,
the wholesale fraudulent and illegal practices of these 'servicers' were fully examined and exposed, with their activities being exactly replicated in the UK:



The above 'Acenden' is in fact Lehman's former UK third party loan servicer,


formerly known as 'Capstone Mortgage Services Limited' in the UK. Due to the


massive complaints and bad publicity, it changed its name to ACENDEN LTD.


Acenden Limited here in the UK, through a management buyout is still 77% owned by Lehman Bros UK Limited(in administration by auditors PriceWaterhouseCoopers). The other 23% is owned by ex-Lehman UK directors, headed by Ms Amany Attia, who was head of Lehman's European mortgage backed securitisations.


Please have a look at the website above, as your findings are completely verified by the near exact duplication, of how these 'sub-prime lenders' were NEVER in the mortgage business, but into the DISPOSSESSION of families homes.


This was done using so called 'Special Purpose Vehicles'(SPVs) or 'Entities'(SPEs). Like ENRON, which had over 2000 SPVs, the use of these 'incorporated' or here in the UK 'Public Limited Corporations'(PLCs) were used to avoid taxation and secure the mortgage assets of Lehman's should it go into bankruptcy. Guess what it did!, so now the UK investors are instructing the SPVs in a repossession frenzy to liquidate the mortgage books(pools) of the UK Lehman lenders. That is LIQUIDATE THE BORROWERS.


In perspective, Lehman operated 26 SPVs from 2003-2008, providing about 180,000 mortgage loans. To date only approx 60,000 remain, the fact being over 75% of these loans were in excess of 10 years duration! The majority, being between 10-25years in length. This massive liquidation, through the complicity of the UK courts, has continued unabated. The borrowers in the UK were NEVER given a mortgage loan to its true redemption date. As said previously, Lehman's 'lenders'(SPML/PML/SPPL) business model was and remains repossession, as most LTVs here in the UK were between 75-85%.


The money was in the liquidation of the borrowers homes, by all the methods your website has described, through these so called 'servicers'., whose directly take instruction from the SPVs to liquidate the mortgage pools by any means they can. As described ACENDEN here in the UK create defaults, through

'missing' payments, extortionate charges & fees, NO loan modifications etc. 



Look forward to opening a dialogue here, keep up the good work, it is very important.










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    Here in the USA, they would often loan 150% LTV by doing an 80-20 split,
ie 80% on the first and 20% on the second. They would sell the first on the
secondary mortgage market multiple times to multiple investors, so they got
back their initial investment many times over. They would hold on to the second.
    So in effect, they were running a Ponzi scheme to defraud the investors
who bought the counterfeit first mortgages. The servicers would buy the
servicing rights (read foreclosure rights) to these loans for 2-3% of face
value. In effect, they are collecting "free money" from the borrowers until
they default, and then they get a "free house" when they foreclose, since
the servicers have no equity in these properties.
    When one examines the documents the servicer (pretender lenders) submit to the Courts, they are all counterfeit Notes, fraudulent assignments
and phony affidavits. This is the rule, rather than the exception.
    What created the collapse of Lehman in September of 2008 was not
massive defaults by borrowers, but rather the discovery by the investors
that they were being "scammed" by a "Ponzi" scheme so they stopped buying
these "mortgage backed securities". Without the "new" money coming in,
they could not make payments to the "old" money previous investors. This
is why the US government had to intervene with "TARP" funds, which should
have been called "CARP" funds for "Counterfeit Asset Relief Program".
     Had the US government not done this, many of the nations pension, insurance and money market funds would have gone bankrupt. Everyone's
ATM card would have shut down. So in essence, it was the biggest theft
of America's savings since the 1920's when it was done with watered stock.
This time it was done with "watered" mortgage backed securities.
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William A. Roper, Jr.
In regard to Mike H., please see the new thread:

"About Mike H."

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