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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CNBC just ran a Breaking News banner:

"Bank of America stops foreclosures in all 50 states.  PNC bank stops foreclosures for 30-days in 23 states."

The significance here, at least in my mind, is that BoA must think there is also some liability in the non-judicial foreclosure states.  

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It is my understanding that the Notarization Act has been laying around in Congress since 2005, the same year that Ney-Kanjorski passed. Do you think they might be connected, hmmm? If you remember, Ney-Kanjorski stripped states of the right to enforce their own consumer protection laws and made the mortgage scam a federal boondoggle. No one has been watching this until now.

It appears that the banks were already beginning to see problems coming ahead and were taking steps to strip borrowers of all conceivable protections before the stuff hit the fan. Luckily they only got half of their nefarious scheme passed by the entrenched whores that claim to run this country. The question remains as to whom they are running it for...the Bankocracy?

I have a sickening sinking feeling that nearly every Congressperson's vote is for sale to the highest bidder.

I get sick when I realized that if the banks had gotten both parts of their legislation passed in 2005 (and I do believe that it was the banks legislation) borrowers would be naked and flat-footed today. The President doesn't seem to have an issue with the bill, a pocket-veto nearly guarantees that this thing will resurface after the election, they will probably find a way to make it retroactive or just have a document mills re-date all paperwork, ugh!

How can anyone survive in this country when everything is stacked against citizens by the very representatives claiming to be looking out for us?

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This thing could have legs:

"It’s really only a matter of time before there is effectively a national foreclosure moratorium,"

And the lawyers, the only ones who really come out ahead is this mess, are soon to be lining up at the window with their filing fee check in one hand and the papers in the other.  But for now the judges can take a breather and enjoy a round of golf, even those who never gave a rat's ass about those pesky assignments and lost note affidavits.

Arkygirl has a very accurate take on things!

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