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

       buckeyebabe wrote:

       “Wow, I am shocked at all of these stories. Our mortgage was sold to EMC and they

       were very easy to get along with. I always received friendly and helpful service when

       I called in.We have since refinanced and are unhappy with our current mortgage

       service company! Wish we had stayed with EMC.”

 

Dear buckeyebabe:
Consider yourself lucky. The hundreds of previous EMC horror stories contained herein are *true*

EMC is currently in a historic amount of trouble both financially and with intense criminal investigations. They are largely now being run by their owner Bear Stearns who unfortunately is far more corrupt than EMC.

I would not believe anything of substance EMC or Bear tells you..

FACT: EMC is likely to mislead/deceive you.
FACT: Bear Stearns is likely to lie to you.

Buckeyebabe how long were you with EMC and who owned your previous note that EMC serviced?

MR :~? ED
ecagetx@tx.rr.com

Ed Cage
Plano Texas

972-596-4363

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Ed Cage
buckeyebabe wrote:
“We originally financed through UC Lending and when they went bankrupt our mortgage was transferred to EMC. We refinananced a year ago. We were truly not perfect customers (late a lot!) and they were always more than happy to work with us.”

 

Yikes buckeyebabe! I've heard UC Lending, Aegis, and Fairbanks (Great bloodlines) are associated.. Is that true?


Then to top it off you also had EMC as your servicer (Great team you had). Next you claim you were "late alot" yet "they were always more than happy to work with me." Your story *stinks* from top to bottom.. Those of us who have had the distinct misfortune of somehow winding up with EMC know that:

1) EMC manufactures bogus late charges.

2) EMC's primary method of criminal fraud is to generate fraudulent "suspense" "escrow" and "corporate advances" in order to pump these accounts up with illegal, nonexistent* and inflated charges so that valid timely payments can be circumvented to these largely illicit slush funds.


3) EMC then illegally and intentionally puts their customers into a premature default or foreclosure position resulting in even more bogus and inflated charges.

4) EMC is currently defunct – Those wishing to reach the EMC executive desk or seek research answers are now instead being sent to EMC’s owner Bear Stearns. The reason EMC failed so abruptly is that they and Bear currently face a colossal amount of rapidly expanding litigation for fraud as well as intense widespread criminal investigations of their employees.

5) Although EMC is financially ruined and has an absolutely dreadful reputation exceeded only by their owner Bear Stearns** those who are stuck with them must still keep their payments current.

6) Employees at both EMC and Bear Stearns are currently speaking out about misdeeds by their employer and their colleagues. I predict the Bear Stearns mortgage unit will begin the same subtle silent end-game folding process that EMC is currently in right about Super Bowl time.

7) Fold, change the name, then move on to more criminal fraud***  That’s how it’s done buckeyebabe.

Ed Cage, Plano Texas /  972-596-4363
ecagetx@tx.rr.com

* EMC is not alone in this scam: Their drive by “inspections”(har-har) are either grossly inflated or nonexistent.

** I am 63 years old and owned my own business for decades. Bear Stearns is the most blatantly dishonest company I have ever encountered in my entire life.

*** Notorious mortgage fraudster James Brantley of AMC is a good example of this popular name-changing-solution. Incredibly when AMC folded Brantley was promptly hired by Citi Residential!  ..Which should tell us all something about Citi’s priorities and the reason Citi Residential is also now rapidly collapsing.

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Ed Cage
buckeyebabe wrote:
Now that you brought some of these things up, you have jogged my memory. Whenever we were late with UC Lending, I ALWAYS included the late fee and did not let it ride. When our mortgage transferred to EMC there were suddenly about $600 in unpaid late fees. When I inquired, was told that the same thing happened to many UC Lending customers when the loans transferred over. That this number probably meant that since I did not specify that the extra amount paid (late fee) be applied towards the late fee, that it "probably" went towards principal. When I requested a pay history, they charged me $10.00. I was also charged for drive by inspections.
But seriously, we were late (a lot), and I have learned to accept that if you can't pay your bills on time you will be bombarded with all of these rediculous fees. Although I do really think that EMC worked with us to help us get back on track when we were behind.
Maybe we were charged a bunch of these bogus charges and because of my inability to stay on top of things, I missed it and just kept paying month after month. I swear I am not lying! I seriously felt that they were decent to us.
Maybe I have just never had really good customer service LOL"
Dear Buckeyebabe:
I'm glad to hear I jogged your memory and you now recall “when we were late with UC Lending, I ALWAYS included the late fee and did not let it ride.” That's why when your mortgage transferred to EMC you have now suddenly remembered "there was suddenly about $600 in unpaid late fees."

Buck your hunch that you "were charged a bunch of these bogus charges and because of my inability to stay on top of things, I missed it and just kept paying month after month" is an accurate assessment of what happened to you. I can assure you that you were illegally cheated by EMC** and they got away with it as per your additional admission that you were “not on top of things.”

You can be certain that EMC exploited you far more than you realize. For example, when EMC again transferred your note to another entity it is a virtual certainty other hidden charges were rolled into the transaction.. That’s a standard procedure in the “Who me?” ruse designed to camouflage prior sinister deeds and weak areas. Your new servicer will say,“Take that up with EMC.” EMC will respond,“We can’t help you, you’re now dealing with ______”        ..BTW who is your new lender/servicer?

** EMC unlawfully swindles all of their customers with the exception of a handful of shills who are kept as “good references.” In a case like yours in which they spot a particularly naive customer (An easy mark) you can bet the ranch you have been defrauded more than you presently realize.

Finally your last sentence,“Maybe I have just never had really good customer service LOL” is particularly revealing to me.

Thanks for your forthrightness and courtesy.
Ed Cage / Plano Texas (Phone listed)
ecagetx@tx.rr.com
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Ed Cage

K Harris wrote:

"My loan was recently sold to EMC just last month. I had a dealing with a representative last week that put me on notice that these people are not customer friendly. I made arrangements to pay my mortage for a specific amount. What was presented to my bank was for much more than was agreed. I suspect that they included an over the phone check convenient charge that was not disclosed to me during my discussion with them. They are definately off to a bad start with me. As soon as I can I plan to refinance and get as far away from them as possible."

 

Dear K Harris:
That's a good idea you have to get away from EMC as quickly as possible.


Tip 1
EMC is virtually guaranteed to try to illegally defraud you on your way out the door.


Tip 2
Carefully check all "suspense" and "escrow" accounts. This is where most of their criminal activity takes place.


Tip 3
When you refinance go with *integrity* first.. Perhaps your bank; someone you know and trust is actually a great deal less expensive than a lower rate that is designed to set you up for illicit exploitation.


Tip 4
Stay away from:


1) Bear Stearns (Greg Fedler) the worst hands down. Nobody is in second place.


2) EMC (defunct squeak toy of Bear) but can still foreclose through Bear Stearns
which specializes in lies, Gestapo type collection tactics, and more lies.


3) AMC (defunct but can still steal your home through Citi Residential)


4) Ameriquest (Also defunct) now operating as ACC.*
* I did not and do not list ACC as a charlatan at this point. The truth is the ACC hierarchy has been quite patient, responsive, and cooperative with me.


5) Citi Residential (James Brantley)

6) Countrywide

7) Ocwen

8) Wells Fargo!!

9) HomEq Servicing and Homecomings

10) Fairbanks

Good luck!
Ed Cage / Plano Texas

972-596-4363

ecagetx@tx.rr.com

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All of us that have dealt with these servicers know that once in a while you get someone that talks nice to you. When my problems all started the first person I talked to politely lied to me when they told me my check was "duplicated". Only to be given 3 different reasons why my check did not clear. Duplicated, Dishonored, and finally "Account not Found." So when K Harris says that they were nice to him/her, I don't find this out of the ordinary. Some will politely LIE to you.

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Ed Cage
Dear “tired and tattered”
I think you have K Harris confused with someone else – What Harris said is below along with my response:

ON: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

“K Harris wrote:

"My loan was recently sold to EMC just last month. I had a dealing with a representative last week that put me on notice that these people are not customer friendly. I made arrangements to pay my mortage for a specific amount. What was presented to my bank was for much more than was agreed. I suspect that they included an over the phone check convenient charge that was not disclosed to me during my discussion with them. They are definately off to a bad start with me. As soon as I can I plan to refinance and get as far away from them as possible."

 

Dear K Harris:
That's a good idea you have to get away from EMC as quickly as possible.


Tip 1
EMC is virtually guaranteed to try to illegally defraud you on your way out the door.


Tip 2
Carefully check all "suspense" and "escrow" accounts. This is where most of their criminal activity takes place.


Tip 3
When you refinance go with *integrity* first.. Perhaps your bank; someone you know and trust is actually a great deal less expensive than a lower rate that is designed to set you up for illicit exploitation.


Tip 4
Stay away from:


1) Bear Stearns (Greg Fedler) the worst hands down. Nobody is in second place.


2) EMC (defunct squeak toy of Bear) but can still foreclose through Bear Stearns
which specializes in lies, Gestapo type collection tactics, and more lies.


3) AMC (defunct but can still steal your home through Citi Residential)


4) Ameriquest (Also defunct) now operating as ACC.*
* I did not and do not list ACC as a charlatan at this point. The truth is the ACC hierarchy has been quite patient, responsive, and cooperative with me.


5) Citi Residential (James Brantley)

6) Countrywide

7) Ocwen

8) Wells Fargo!!

9) HomEq Servicing and Homecomings

10) Fairbanks

Good luck!
Ed Cage / Plano Texas

972-596-4363

ecagetx@tx.rr.com

 

OFF: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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Sorry Ed, I was refering to the post about EMC being easy to get along with. When my problems started with HomEq the first person I talked to was very polite when she told me that my check was duplicated. So she did LIE to me NICELY. So when this person talks about EMC was "very easy to get along with" I don't doubt that they lied to them nicely. That's the point I was trying to make.
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Ed Cage

Dear Tired:

I think you may have been referring to "buckeyebabe" in this same thread who started out saying kind things about EMC but did a 180 in a subsequent post.. (See #3 above.)

 

Indeed EMC (defunct) is as corrupt as they come.. Outranked in the fraud department only by the *Satan* of mortgage crime, Bear Stearns.

 

MC and HNY

MR ;^D


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Ed Cage

LLS wrote:

“EMC needs to follow through with their customers, since they claim the payments they have received never have been posted to their clients accounts. You would think this company would try to maintain a cohesive relationship with their customers. After all, this is 2007, where is the policy of upholding a consumers agreement?”

 

 

Dear LLS:
You make a valid point LSS and one that I was naïve enough to buy into in 2005 when I unknowingly opted for a “lower rate” rather than integrity.

1) The sad truth is that we have allowed these mortgage fraud perpetrators like Town & Country, Bear Stearns, AMC and EMC go unchecked due to our own complacency. When we complain to our spouse “they” ought to do this or stop that we fail to realize the “they” is us. Sure you can complain to the DOJ, or the AG, or your Legislative representative. But unless you are able to prove your case in spades you are not likely to get the “push-button” remedy so many of us had hoped for.

2) Mortgage fraud perpetrators are insulated by numbers which many don’t understand.. You can spot it, point it out, but unless you can make a third party enforcer understand you will likely be frustrated.

LLS, in a nutshell these mortgage fraudsters commit crimes out in the open these days. They get away with it because good people like me and you have done nothing...Primarily because we had no idea this shameless illicit exploitation (in large part of lower income, naïve like me, elderly, minorities, young couples trying to start out) was going on.

Respectfully,
Ed Cage
Plano Texas

972-596-4363

ecagetx@tx.rr.com

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Ed Cage

Livingston MT wrote:

"I was surprised to read all the complaints. In four years of using EMC I have never had a problem."

 

Dear Livingston:

Check your "suspense and escrow and corporate advance" funds Mr Livingston. I guarantee you were illegally cheated if you are with EMC (defunct)/ Bear Stearns.

Ed Cage
Plano Texas
ecagetx@tx.rr.com

972-596-4363

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Ed Cage

http://mortgage-home-loan-bank-fraud.com/legal/Stark_v_EMC_webpage.htm

            United States Appeals Court Verdict

      Stark vs. EMC Mortgage Corporation
Stanley William Stark; Patricia Garnet Stark, Plaintiffs – Appellants

  "The arbitrator’s ($6,000,000) award was intended
                             to punish EMC
           and to deter others from similar conduct."
 
 
Submitted by
Ed Cage
1804 Cross Bend, Plano Texas 75023
ecagetx@tx.rr.com
972-596-4363

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