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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  • There was a very strange incident today at JFK Airport in New York  an AIG executive going through security had to empty out his pockets. You know what fell out? Sen. Chris Dodd.




  • More problems for AIG: It turns out that the bonus money was actually $218 million, not $165 million as originally reported. AIG says they misplaced $53 million in bonus money. Today Sen. Chris Dodd said, “You mean that wasn’t a campaign contribution?”


  • Sen. Chris Dodd, after first denying it, now admits that he’s the one who eliminated the provision in the stimulus package that outlawed excessive bonuses. Coincidentally, he just happened to receive $280,000 from AIG in campaign contributions. What are the odds of that?


  • We now own AIG  80 percent of it. Because of all the outrage over the bonuses, armed guards now have to be placed outside the AIG offices. Not only are we paying for AIG executives bonuses, we’re also paying to protect the executives from us.
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    Stephen
    Dodd's major contributors:

    AIg, Morgan Stanley, Citibank, etc...Any body see anything shady here?
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         I'd like to hear Jay Leno make a joke about this. Wells Fargo received
    $25 billion in TARP money, and then they bought up Wachovia for 5 cents on
    the dollar! Before the transaction Wachovia was valued at about $312 billion,
    but Wells Fargo managed to acquire it with FDIC help for $15.1 billion!
         Citibank almost bought it for even less, they offered $2.16 billion but
    luckily after much rangling they withdrew their offer.
          If banks like Wells Fargo had any shame at all, they would return the
    $25 billion to the US Treasury since they made an absolute killing on the
    Wachovia deal and they never needed the money in the first place.
          If Wachovia had been allowed to go bankrupt, I dont think the stock
    holders could have received less than what they got and the US Treasury
    would have saved $25 billion.
          Now that Wells Fargo bought up Wachovia's mortgage Notes for 5c/$
    does anyone think Wells Fargo will modify the mortgages they own to reduce
    principal and interest and pass some  savings on to hard pressed home-
    owners? I don't think so! Congressman and the president need to wake up!
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