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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arkygirl

This is rich...Old Republic won't pay claims when the bank is "missing paperwork". Old Republic may NEVER have to pay another claim judging by current court cases, lol. And isn't BofA openly admitting that it has been receiving insurance money for foreclosures?

It's the latest twist in finger-pointing over the mortgage crisis: Bank of America is suing its mortgage insurance company over denied claims.

The Charlotte-based bank says that Old Republic Insurance Co., which Bank of America paid to insure it against losses on potential borrower defaults, is "manufacturing excuses" to deny claims. [arkygirl: And how is this different from manufacturing foreclosures?]

In a lawsuit filed last week in U.S. District Court in Charlotte, it calls Old Republic's conduct "aggravating and outrageous," [arkygirl: The banks just cannot take it when they are given the same treatment they use on others]. and says Old Republic is making "unreasonable interpretations" of the requirements in its policies.

Old Republic says it is denying claims where borrowers misrepresented themselves or where the bank is missing paperwork, according to the lawsuit. The bank replies that Old Republic had ample access to Bank of America's loan books and that any missing paperwork has "nothing to do" with the claims.



Read more: http://www.charlotteobserver.com/2010/11/11/1828344/bofa-sues-mortgage-insurance-provider.html#ixzz150bV405k
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"When you lay down with dogs, you wake up with fleas."  I never thought I'd think cannabalism was a good thing, but in this case, it's dessert.  They sooo deserve each other.  Hope they use that long rope to hang themselves.

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