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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Last year I ended up having a deal go south because Citi wanted to make x amount above what someone collected on the deficiency balance notes they purchased from Citi.

I bet with
H.R. 3648, The Mortgage Debt Relief Act of 2007,  is really kicking all their butts besides the mess they've made on homeowners.

As it made the following happen

President Bush signed into law H.R. 3648, The Mortgage Debt Relief Act of 2007, and dramatically changed the lives of homeowners across the country who are facing foreclosure, considering a short sale, negotiating a loan workout, or have done any of these since January 1, 2007. Actually it didn't pass until Dec 07 but was made retroactive to 1/1/07 and is only good on owner occupied loans.

NO more deficiency Judgments!!! Period!

Amazingly enough I just looked at the emails about when we tried to setup the purchase from Citi. It was June of 07. See how crooked they are? They actually wanted a % of revenue someone earned from the deficiency they sold.

That's the whole reason why transaction didn't sell. How do you retain a % of anything as when its sold its SOLD! Or so they claim.


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O -

Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish
Bloomberg - 5 hours ago
US District Judge David D. Dowd Jr. in Ohio's northern district chastised Deutsche Bank National Trust Co. and Argent Mortgage Securities Inc. in October for what he called their ``cavalier approach'' and ``take my word for it'' attitude toward proving ...

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`Waste of Time'

Requiring banks to produce the paperwork at a foreclosure hearing is a nuisance, said Jeffrey Naimon, a partner in the Washington office of Buckley Kolar LLP.

``It's a gigantic waste of time,'' Naimon said. ``The mortgage may have transferred five, six, eight times. It's possible that you don't have all the pieces of paper, but it was enough to convince the next guy in the chain. There's no true controversy over whether the owner owns the loan.''

Come on!  How ridiculous is the above statement?

but it was enough to convince the next guy in the chain.?????

This has me FUMING!

A gigantic waste of time?????

NO!

This is what they want everyone to believe.

If THEY say that they own the note, then they had better damned well PRODUCE the PROOF of ownership!

This is just wonderful, isn't it?

EXAMPLE

Bankers Lust claims that they own a certain note, and they are foreclosing, (using their handy dandy, LOST NOTE AFFIDAVIT.)

Golden Sacks has that same note performing on THEIR BOOKS.

Bankers Lust forecloses on the note, while Golden Sacks continues to book that same note on their books.

AUDIT THE PORTFOLIOS!

Watch them ALL SQUIRM.

THE TRUTH WILL COME OUT WHEN AN AUDIT IS DONE, period.


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I was checking court records of this one particular law firm and noticed that they always file a large amount of "Affidavit's for Lost Mortgage Notes".   Of course, the court and/or judge approved all of them.  It's a shame that none of this is questioned or monitored by the courts.  Anything these law firms say or enter with court, according to them and the court too is gotta to be the "Utmost" truth, irregardless if it maybe improper.
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