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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Ed Cage

RE: Hillary Clinton Sponsors Bill to Bar Banks from Real Estate

http://www.realtown.com/articles/hillary-clinton-sponsors-bill-to-bar-banks-from-real-estat

 

Even though I'm a GOPer, when I first heard that Hillary Clinton was going to co-sponsor a bill that would address mortgage fraud and abuses I praised what appeared to be a timely and commendable effort.  I even told some of my Republican friends about it.  But barring banks from Real Estate lending is hardly the problem. If this article correctly identifies what her legislation intends to accomplish I have a question for Hillary.

 

Where's the beef?

 

Ed Cage 

1804 Cross Bend, Plano Texas

972-596-4363

ecagetx@tx.rr.com

 

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 The beef is that this is such OLD NEWS....
Hillary Clinton Sponsors Bill to Bar Banks from Real Estate
Author: Frances Flynn Thorsen, e\-PRO, SRS
February 6th, 2007 6:16 am ........... and that it has NOTHING whatsoever to do with mortgage servicing fraud and offers NOTHING to help the many who come here desparately seeking timely information and help to save their homes.  It's just useless spam.
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This issue is not useless spam mortgage service fraud is not stand alone crime. Why would servicers throw homes into default to lose money gain a few thousand in fees and lose tens of thousands in paperwork, legal and lose of home value at the sheriffs sale? If that was the case these criminals would belong in mental institution for setting up crime to defraud themselves, investors and banks of trillions.

As far as Hillary she is one of if not the most tied at the hip to corporate criminals and lenders of anyone, most of the legislation and the modern corporate fraud culture especially derivatives and speculative lending was put in place under the Clinton's who received big backing and donations from not only U.S. lenders and insurance companies and reputable.

Her support of this legislation is just a smokescreen  and P.R.  to cover the money laundering trail and her  donor and support base. All it really does is clarify a portion of the Grahm-Leach which along with riegal act also passed with support of the Clintons effectively repealed Glass-Steagal which was designed to prevent a depression caused by reckless lending from occurring again.

Those who say we can only save our homes by taking these servicers to court one by one are missing the point that the legal/judicial system is set up to protect lending criminals and facilitate ms fraud, predatory, payday lending etc.

Really expecting to stop ms fraud by winning a handful of individual cases against the odds is like shutting down the Mafia by bringing a handful of street thugs to court, sure it's something that needs to be done but it really wont solve the problem in the big picture.

Here's a pretty well written article and thanks Ed for raising this issue victims of ms fraud need to know what they are up against, and everyone else needs to understand how ms fraud and related crimes affect them right in the pocket book, retirement fund, investments and jobs.

 Would Glass-Steagall save the day from credit woes?

    SANTA MONICA, Calif. (MarketWatch) — Time was when banks and brokerages were separate entities, banned from uniting for fear of conflicts of interest, a financial meltdown, a monopoly on the markets, all of these things.

    In 1999, the law banning brokerages and banks from marrying one another — the Glass-Steagall Act of 1933 — was lifted, and voila, the financial supermarket has grown to be the places we know as Citigroup, UBS, Deutsche Bank, et al.
    But now that banks seemingly have stumbled over their bad mortgages, it’s worth asking whether the fallout would be wreaking so much havoc on the rest of the financial markets had Glass-Steagall been kept in place.

    Diversity has always been the pathway to lowering risk. And Glass-Steagall kept diversity in place by separating the financial powers that be: banks and brokerages.
    Glass-Steagall was passed by Congress to prohibit banks from owning full-service brokerage firms and vice versa so investment banking activities, such as underwriting corporate or municipal securities, couldn’t be called into question and also to insulate bank depositors from the risks of a stock market collapse such as the one that precipitated the Great Depression.

    But as banks increasingly encroached upon the securities business by offering discount trades and mutual funds, the securities industry cried foul. So in that telling year of 1999, the prohibition ended and financial giants swooped in. Citigroup led the way and others followed. We saw Smith Barney, Salomon Brothers, PaineWebber and lots of other well-known brokerage brands gobbled up.

    At brokerage firms there are supposed to be Chinese walls that separate investment banking from trading and research activities. These separations are supposed to prevent dealmakers from pressuring their colleague analysts to give better results to clients, all in the name of increasing their mutual bottom line.

    Well, we saw how well these walls held up during the heyday of the dot-com era when ridiculously high estimates were placed on corporations that happened to be underwritten by the same firm that was also trading its securities. When these walls were placed within their new bank homes, cracks appeared and — it looks ever so apparent — ignored.

    No one really questioned the new fad of collateralizing bank mortgage debt into different types of financial instruments and selling them through a different arm of the same institution. They are now.

    Enforcing separation

    I’m not saying that Glass-Steagall would have made a difference to the evolution of the collateralized debt obligations. But it might have helped identify and isolated the damage.

    When banks are being scrutinized and subject to due diligence by third-party securities analysts more questions are raised than when the scrutiny is by people who share the same cafeteria. Besides, fees, deals and the like would all be subject to salesmanship, which means people would be hammering prices and questioning things much more to increase their own profit — not working together to increase their shared bonus pool.

    Glass-Steagall would have at least provided what the first of its names portends: transparency. And that is best accomplished when outsiders are peering in. When every one is on the inside looking out, they have the same view. That isn’t good because then you can’t see things coming (or falling) and everyone is subject to the roof caving in.

    Congress is now investigating the subprime mortgage debacle. Lawmakers are looking at tightening lending rules, holding secondary debt buyers responsible for abusive practices and, on a positive note, even bailing out some homeowners.
    These are Band-Aid measures, however, that won’t patch what’s broken: the system of conflicts that arise when sellers, salesmen and evaluators are all on the same team.
    Glass-Steagall forced separation. Something like it, where conflicts and losses can be mitigated, should be considered again.

Market Watch 9/7/07
http://www.marketwatch.com/news/story/would-glass-steagall-save-day-credit/story.aspx?guid=%7B3AA33D85%2DAD38%2D41B4%2DB300%2D033235B5734A%7D


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Hello moderators????

You really need to put an end to this. People with real issues are going to go away.

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The point is to prosecute and throw in jail everyone involved in profiting from ms fraud and permitting it to happen, especially politicians who pass laws that permit looting the country. We need justice and to be compensated for our loses.

There have been about 2 million foreclosures and 4 trillion looted from the economy if you figure 3 persons per household that's 6 million U.S. citizens ripped out of their homes and thrown out in the street and left to die this year alone, ms fraud is part of the greatest and biggest crime in human history, and it all has happened in a supposedly civilized nation with property rights protected by the rule of law. True many of the borrowers borrowed more than the could pay and many falsified income and assets but they fooled no one the lenders wanted to make loans that would fail.

Had any other country unleashed  this level of terrorism  on it's own citizens  U.N.  troops would have  leveled the country to parking lot in the name of human rights.

Saving a handful of homes though a corrupt court system is more important than stopping ms fraud and related crimes plunging civilization into a new dark ages?

It makes far more sense to focus on doing what we can to educate people about ms fraud and arm them with the knowledge they need to save their homes but put maximum effort into restoring our Constitutional right to own property and have it protected by the rule of law, relate to the public how permitting ms fraud and other financial fraud can and will create a major depression or worse.

Why the desperate effort to stop the crooks at the top from getting caught?

We need to end judicial and legislative corruption major crimes are being committed here fraud, larceny, extortion, violation of due process, intimidation of witnesses, destruction of evidence, tax evasion, wire fraud the list goes on and on.

Bill and Hillary are at the top of the list of criminals that need to be prosecuted and imprisoned for lending fraud  and  forced to find a way to pay back the trillions they helped to loot from the U.S.,  facilitating lending fraud and debasing our economy which is capitol offense.

Many of us have been fighting year after year and want ms fraud to end. Criminal acts need to be prosecuted not transfered to civil court and decriminalized.

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Ed Cage
        Hello moderators???? wrote:
        "You really need to put an end to this. People with
        real issues are going to go away."

Dear Ms. “Hello moderators”:

Is there any end to the number of aliases you use?  And to what end?  Using a half dozen different aliases in one day alone (including my name “Ed Cage”) is not only disjointed but it damages your credibility.  I know you are upset at your personal plight but try to understand this:

 

1) Lashing out at other victims in this open forum using a bewildering quagmire of assumed names is not going to help your dilemma or that of the other injured parties in here. You are not alone.. Virtually all of us have been cheated by mortgage fraudsters to some degree.

 

2) This MSF forum is not necessarily a free “push button” solution to your own mortgage problems but it can really help if you know how to use it as well as its limitations.

 

3) Check your ego at the door.  This is not the Jerry Springer show.  

 

Anyway Happy Thanksgiving.  

 

Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com

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Ed Cage

Thanks Greg Collins, as usual you make sense and consistently make solid points..

On a related subject here’s a second opinion on HR 3915

 

http://www.mortgagenewsdaily.com/11202007_Title_3_HR_3915.asp

Submitted by

Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com

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~beenawhile
Ed,

If we bring attention to them, and all of their alias' they will continue.


If we ingnore them, and look past their posts, they will eventually get a clue.

It is when, one edits, copies, pastes, and then responds to their comments that keeps the nonsense "alive".

Please, let us ALL, ............ PAY NO MORE ATTENTION, to these posts.
It's the attention they are seeking.
and when you give it.
They ~LOVE~ it.

Thank You, and good luck in the fight of msfraud Ed.
~beenawhile
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Ed Cage

Dear Beenawhile:

When I said, "Billy/Harry" who is actually a gal has got more aliases than Carter has little liver pills each of which has an attitude that craves attention and controversy” I was of course referring to YOU.

      And while we’re at it, please don’t use my name (Ed Cage) again as one of your dozens of aliases. Your “Harry” alias vowed he/she was never coming back.. Then boom, there you/Harry is again..   

 

              Beenawhile this Jerry Springer type atmosphere

                              you seem to enjoy is not

                    going to solve your foreclosure problem.

 

HTG,

The real Ed Cage

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Ed Cage
Beenawhile-

Here's the scoop: As long as you agree with Ed, you are OK, and he keeps his yap shut. However, as soon as you disagree, or ask him to do something a different way, he lashes out like a 12 year old when you ask him to clean his room. Notice the refusal, the name calling, the bad attitude?

You don't have to believe me, just search for yourself. Every time you agree with him, he gives you the happy to have you aboard, mutual admiration society, secret handshake. Disagree, and you instantly get labeled, and name called. He actually shares this character trait with another well know participant on this board.

I don't have a problem with Ed's opinions, and I don't always agree with him. I do however, have a huge problem with the way he acts on the board. People have politely (VERY politely) asked for some modifications to his posts, and he became a tad less than polite.

Most people on this board are polite, even in disagreement. They might make some general requests, or ask for things to be done differently. I have even seen people flat out disagree with everything a poster had said. However, they were are least POLITE about it. Nobody got offended, and nobody lashed out. However, with our boy Ed, I guess that's just too much to ask.


forewarned is for-armed!

Ed Cage--
but not really Ed Cage, or Billy, or Harry. I just noticed that it makes Ed mad!! Let's see if we get the usual temper tantrum. I bet he can't resist!
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~beenawhile
Ed Cage wrote:

Dear Beenawhile:

When I said, "Billy/Harry" who is actually a gal has got more aliases than Carter has little liver pills each of which has an attitude that craves attention and controversy” I was of course referring to YOU.

      And while we’re at it, please don’t use my name (Ed Cage) again as one of your dozens of aliases. Your “Harry” alias vowed he/she was never coming back.. Then boom, there you/Harry is again..   

 

              Beenawhile this Jerry Springer type atmosphere

                              you seem to enjoy is not

                    going to solve your foreclosure problem.

 

HTG,

The real Ed Cage

 

LOOK ED YOU ARE OFF YOUR ROCKER! YOU ABSOLUTELY DO NOT KNOW WHAT YOU ARE SPEAKING OF IN ANY WAY SHAPE OR FORM.

 

THE MODERATORS OF THIS BOARD KNOW AND CAN TELL WHO THE PERSON USING HARRY,BILLY, & ALL THE OTHER NAMES ARE!

 

THE MODERATORS KNOW IT IS NOT ME!

 

Ed, I sincerely suggest you get the FACTS straight before you accuse someone of things you have no idea about!

 

BOARD MODS?

Am I the POSTER using all of the names, Harry, Billy, Billy Goat, and the like? To "ATTACK" ED?

NO I'M NOT ................... BUT PLEASE ANSWER FOR ED ANYWAY........ SINCE HE SEEMS TO THINK SO.

 

Ed, I'm not here on this board to DEFAME anyone.

Obviously you are!

You do it every chance you get.

 

What the hell is the matter with you?

 

I am here to help the victims of Mortgage Servicing Fraud, and I could give a rats F. Azz, about what you have to say, concerning AMC, Ameriquest, Bear Stearn, and James Brantley.

 

What I do care about is you saying the companies are "defunct" and "out of business" when in FACT. TOTAL COMPLETE FACT, THEY ARE NOT!

 

Ed, my life has enough stress in it trying to take care of family, home, fraud. I'm really very sorry I brought you to this board.

First you spill my alias' on the board, and NOW YOU ACCUSE ME OF ATTACKING YOU.

 

I WASN'T YOUR ENEMY, I WASN'T YOUR ATTACKER, "BUT IF YOU WANT ME TO BE ED, I SURELY WILL"

 

GET A GRIP, GET REAL AND GET OFF IT!!!!!!

 

Thanks, Ed.......... MY BLOOD IS BOILING.

BUT I CAN SURELY TAKE COMFORT IN KNOWING THAT YOU WILL NEVER KNOW THE TRUE MEANING OF MY INTENTIONS, AND THE LOVE I HAVE IN MY HEART FOR OTHERS.

 

AND HOW I YEARN TO HELP OTHERS WHEN POSSIBLE, AND HOW I GO OUT OF MY WAY TO DO SO WHEN I CAN.

 

I TAKE PRIDE IN MYSELF, NO MATTER WHAT YOU SAY. ED.........YOU CANNOT TAKE THAT AWAY FROM ME.

 

BUT YOU HAVE NOW, MADE YOURSELF LOOK LIKE A TOTAL RAGING FOOL, ON THIS BOARD, INFRONT OF THE OTHERS.

 

I TAKE PRIDE IN KNOWING THAT I DON'T STOOP TO THE LEVELS YOUR PARANOIA ALLOWS YOU TO THINK I HAVE STOOPED TOO.

 

SO AGAIN,

GET A GRIP, GET REAL AND GET OFF IT!!!!!!

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Ed Cage

Beenawhile:

Hopefully you will not use "Ed Cage" as one of your numerous aliases again.

 

The real Ed Cage

 
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~beenawhile
Ed Cage wrote:

Beenawhile:

Hopefully you will not use "Ed Cage" as one of your numerous aliases again.

 

The real Ed Cage

 

 

Ed,

I have not used your name as an alias, at all whatsoever.

 

I am not you, and dont wan't to be you, (NOT EVEN IN PRETEND).

 

While we are on the subject however Ed............

The people on the board know me from last year,

They know that I didnt behave this way then,

So why would I start this kind of behavior of "attacking" using moniquers now?

Why would I wait until NOW? to behave this way ED?

 

try to hurt my character all you want, try to discredit me all you want, but the Veterans of this board Know that I try my best to "help" others ED, not "destroy" them.

 

Have I defamed you on Topix ED?

No I haven't!

So ask yourself, ED........ Who really is the person that has it out for you?

 

It's not me ED, but I'm done with you!

 

I apologized to you for my lashing, YET YOU STILL IGNORED QUESTIONS I ASKED YOU.  YOU "SPECIFICALLY IGNORED THEM" you felt the need to show your utter resent towards me, because I scolded you for revealing my email name across the board.

 

Then I apologized for my thrashing at you.

DID YOU BOTHER TO ACKNOWLEDGE THAT? NO YOU DID NOT!

SO ED? WHO IS THE BETTER PERSON HERE?

WHO HAS THE BETTER CHARACTER?

 

Read the post ED "FREEDOM OF SPEECH WILL NEVER BE FREE"

its about 3-4 pages back maybe a little farther.

 

I have apologized to you three times ED, twice here on the board.

and once in EMAIL.

 

I WAS DONE WITH YOU, WHEN I REALIZED THAT YOU WOULD NEVER GET OVER THE OLD MAN GRUDGE.

 

I have been here long enough for the veterans of this board to know my behavior, and my intentions.

 

Why do I have a few old alias' that I don't use anymore?

Because ED, (NOT THAT IT IS REALLY ANY OF YOUR BUSINESS AT ALL)

I had some very strange things happen to me.

 

I have been followed,

Our dog disappeared, never to be found again.

I have had encounters with people stopping me in a store and asking me questions.

I have had people sitting outside of my home.

 

All of this happened last year, after my family and home we're threatened by

EMC.

 

EMC knew that I was posting on this board. They might have known who I was posting as. Chances are they did. Becuase it was my posts, and questions that made them threaten me, my family, and all of my documents, and our home.

So I changed my name, I also changed the 1st name I used because it was too difficult to type with every post, and I wanted something simple.

 

after months away from this board, I came back with a new name because

I didn't want EMC passing the information onto the NEW Servicer our account has been sent too.

 

But now once again they know who I am.

 

and one last thing Mr. SELF RIGHTEOUS, HOLIER THAN THOU, ED,

your accusations are absolutely unwarranted, and unfounded, and without much credibility. But you fail to see the ill of your ways, thoughts, or paranoias'.

 

 

for those of you on here who know me from my old name, did I or have I ever behaved on this board in the manner that MR. ED is accusing me of?

I hope you all will answer.

 

~Now run along boy, I've got better things to do than to spend my time on the likes of you~!!!

 

Last thing I've got to say........

You give me nothing but problems even when I haven't bothered you!

I'm SO VERY SORRY I BROUGHT YOU TO THIS BOARD!

I APOLOGIZE TO EVERYONE!

PLEASE FORGIVE ME???

 

 

 

 

 

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O -
sorry to hear about your dog, I was hoping you would find him. Good Luck With your fight.

The Fake Ed is right. The real Ed is acting like Nye...name calling if you don't agree with him.

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Thanks for this link Ed
http://www.mortgagenewsdaily.com/11202007_Title_3_HR_3915.asp

The author admits the system is corrupt and then says it's irrational to blame anyone.

His basic logic is it would collapse the economy and that it's socialist to attack and regulate business. I'm a free market capitalist and assert that this corrupt lending system is a form of Facism or corporate oligarchy where the lenders call the shots in the government the opposite of true free market capitalism. Capitalism is equal property rights and protection under the law for everyone rich and poor since the rich always have property rights capitalism simply means property rights for common people and the chance for poor to obtain and keep property. No matter how you look at it in reality we do not have fair and equal protection of property rights and the legal justice system. No matter what the law says it simply is not being followed or this forum would not be here.

If the crooks did not have system in place where they could get rich off of using other peoples money (our equity) they would not have an incentive or method to profit from foreclosures and it would be foolish to engage in reckless speculative lending. I'm opposed to regulation because it creates a bureaucracy that can be paid off and raises the issue of who will regulate the regulators.

Instead of leaving a system in place that has failed us and promotes crime it makes more sense to make changes which encourage making loans in the interest of the borrower and the lender and making changes. It also makes sense while the problem is in the public spotlight to create changes in the monetary, lending and investing structure which promote long term stability and savings.

At the root of the problem is we have system where debt is money and therefore the incentive is to create as much debt as possible. If we had a system where actual saving were wealth then the incentive would be to save as much as possible.
We see written right into the tax code interest right offs well that encourages people to borrow as much as possible so they don't "throw it away" on taxes.

This mess did not happen overnight and many issues underly it and they should all be addressed if we do not want to live in fear of a roller coaster economy.

One big problem with his assertion this is not business it is stealing.

The biggest problem of all though is under the current system our lives literally depend on the economic structure and it is corrupt from top to bottom is that it will collapse anyways and it will continue to create poverty and crime. The authors logic is the lending and monetary system is too important to mess with, my logic is the basis for civilized society is a fair and honest and stable monetary system  and protection of property rights along with the rule of law.

The only solution is to find out what went wrong and bring the guilty parties to justice for the safety and welfare of us all. The author does not want anyone pointing fingers and placing blame because he is in part to blame.

Very few people think think there are to many child molesters, rapists and murderers running around to place blame and they are far fewer crooks at the top of the ms fraud food chain than violent criminals. We know just who they are and where they are it would be very easy to round them all up and try them for their crimes and they are  very aware of that fact.

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Ed Cage

You're certainly welcome Greg.

      I have found Mortgage Daily to be a virtual gold mine of interesting, helpful and pertinent mortgage articles.  Here’s their link:
http://www.mortgagedaily.com/

 

     And what follows below Greg are just a few snippets MD emailed me today. Even though they are right here in the Dallas area where I live their subscription was a bit pricey for me personally.

     However here’s a Mr Ed Tip:

You can contact them and they will send you a week’s subscription free.  I get several emails a day from them.

                                    - - - - -  ON:  - - - - -

Countrywide Accused of Interest Overcharges
A lawsuit has been filed against Countrywide Financial Corp.'s servicing subsidiary. The company is accused of overcharging interest on mortgage loans after they were paid in full, according to the lawsuit which seeks class action status. The suit, brought by Timothy J. and Jessica Kay Lauricella, of Gilbert, Ariz., accuses Countrywide Home Loans Servicing LP, of Plano, Texas, of "improperly retaining unearned per diem interest" on conforming home loans beyond the payoff dates. The company allegedly failed to return the Lauricella's excess per diem interest that was included when they paid off their mortgage through a refinance that occurred on Oct. 21, 2004.

Reverse Lending Outlook
Reverse mortgage loans offer hope to a battered mortgage industry, though it is not retiring Baby Boomers but their parents who will provide demand. However, a potential flood of entrants into the growing market troubles some established players.

Foreclosures: Mitigate, Litigate & Legislate
Minnesota, Texas and Virginia are taking more steps to prevent foreclosures. Meanwhile, federal government regulators are also weighing in.”

                                    - - - - -  OFF  - - - - -

 

These Mortgage Daily emails are really very helpful but I always true to give them a plug and credit since they did the heavy lifting on these stories.

 

Mortgage Daily snippets /excerpts submitted by

Ed Cage
1804 Cross Bend, Plano Texas 75023
972-596-4363
ecagetx@tx.rr.com
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