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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http://www.signonsandiego.com/news/metro/20071224-9999-1n24loans.html

Where's the stick?

Because the loan modification initiatives are voluntary, critics say there is no way to determine how effective they will be.

“There is no stick in the plan,” said Mark Zandi, chief economist for Moody's Economy.com. “There is a significant number of investors who would rather see homeowners default and go into foreclosure.”

I wonder if Mr. Zandi would be at all willing to elaborate on that statement in an affidavit....

Mike
http://www.getdshirtz.com
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Moose
Really nothing surprising there.  Some loans carry enough insurance to make a bond investor's exposure zero.

Moose
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