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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Justa Homeowner
The email is in response to an email sent to Senator Hutchinson regarding SB 1275 --- she obviously didn't make the connection.  Her response:

Dear Friend:

        Thank you for contacting me regarding mortgage reform. I welcome your thoughts and comments.

        On March 26, 2009, Representative Brad Miller (D-NC) introduced H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act. If passed, this legislation would seek to deter predatory lending practices by restricting lenders from making loans available to consumers who cannot afford them. It would require a lender to ensure that the borrower is able to repay the loan, and would enforce this by making lenders liable for punitive damages if found in violation of this provision. H.R. 1728 also includes provisions to limit subprime mortgages and fraudulent home appraisals.

        Homeownership is an essential part of the American dream. Congress must strive to help increase homeownership, support community development, and improve access to affordable housing free from discrimination, while not imparting an undue tax burden on Americans.

        The Federal Reserve has already approved regulations seeking to better protect consumers in the mortgage lending process. Like H.R. 1728, the Federal Reserve’s rule requires lenders to assess a borrower’s ability to repay. The rule includes other provisions that eliminate deceptive lending practices in order to better protect borrowers. The Federal Reserve’s regulations took effect on October 1, 2009.

        While H.R. 1728 aims to increase consumer protections for mortgage borrowers and homeowners, some are worried that the bill does not take into consideration the Federal Reserve's new rule. Further, there are concerns that the bill limits the types of mortgages available for borrowers, which could hurt consumers when the housing market rebounds.

        H.R. 1728 passed the House of Representatives on May 7, 2009, and has been referred to the Senate Committee on Banking, Housing, and Urban Affairs, of which I am a member. Should the committee consider this legislation, you may be certain I will keep your views in mind.

        If you believe you have experienced lending discrimination, please visit the Department of Housing and Urban Development's Housing Discrimination website to file a complaint:

Kay Bailey Hutchison
United States Senator
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