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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I for one am glad if Litton Loan is sold to Goldman. 
 
Goldman is not going to buy Litton Loan and Keep Larry Jr. and Sr.  in their management team for very long.  There is just too much "LIABILITY" attached to these Terrorists!   Goldman will most likely have to change the "Culture" of Litton Loan.
 
Goldman would not buy Litton Loan with its current Litigation going on, they most likely would purchase it as an "Assets Only" purchase. 
 
Litton Loan has far too much exposure to current litigation and future litigation to survive without being sold and renamed later.
 
I have it from a good well placed source that MGIC and RADIAN both need the cash, and are trying to spin the liability out in hopes of MGIC and RADIAN not getting caught up in the future and current law suits.  After all it was MGIC/RADIAN that owned and controlled the conduct of Larry Litton and Litton Loan.  Curt Culver knew of the problem at Litton Loan years ago, I'm sure, those at RADIAN also knew of the massive fraud Larry Sr and Larry Jr were directing at Litton Loan.  After all its CBASS General Counsel that provides all the litigation direction to Litton Loan. So it would be hard to believe that both MGIC's and RADIAN's General Counsel's would not also have known of the FORGED ALTERED documents being provided for litigation.
 
After all it was at CBASS's direction that Litton Loan commenced Foreclosures by "Cherry Picking" loans.  CBASS also identified loans that were "EXEMPT" FROM FORECLOSURE!  Now many of us would like to know how and who were on these lists attached to the "POOLING AND SERVICING AGREEMENTS".  Why were they exempt? And who were they? 
 
 
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Yes Larry, I think the selling of Litton Loan is a good thing! 
 
I'm sure your not happy with what's happening to "Your" nest egg! 
 
Maybe someone will give you a golden umbrella, after it's sold and when you hopefully go to jail!
 
I just want to say, having to sell your home because of a massive fraud scheme, makes it very personal! I'm sure anyone and everyone that has had Litton Loan foreclosed on them feels the same way.  My pound of flesh will be more than a pound! I promise that too Larry!  Not just the CLASS ACTIONS AS I PROMISED YOU ON TAPE!
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TommyD
http://www.reuters.com/article/bondsNews/idUSN1622554320071016


NEW YORK/BOSTON, Oct 16 (Reuters) - Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) has emerged as the final bidder for Litton Loan Servicing LP, the subprime mortgage servicing unit of Credit-Based Asset Servicing and Securitization LLC, and a deal could close in 60 days, people familiar with the situation said Tuesday.

Goldman Sachs, the world's largest investment bank by market value, has been in talks with C-BASS, a subprime mortgage investment venture jointly owned by MGIC Investment Corp (MTG.N: Quote, Profile, Research) and Radian Group Inc (RDN.N: Quote, Profile, Research), for about a month.

Negotiations surrounding the complex transaction could still break down. Obstacles to reaching the finish line include getting approval from C-BASS creditors and ultimately from every state mortgage regulator where Houston-based Litton does business, the sources said.

Litton, which serviced $6.58 billion of loans at the end of June, is expected to fetch $400 million to $500 million in a sale, one person familiar with the matter said.

Goldman Sachs and C-BASS declined to comment.

Goldman Sachs Chief Financial Officer David Viniar said last month that the recent turmoil had created opportunities to buy mortgage assets. Previously Goldman Sachs had shied away from mortgage accusations. Viniar also predicted the beaten down U.S. mortgage market "was closer to a bottom."

MGIC in September terminated a merger agreement with Radian, citing weakening conditions in mortgage markets. At the time, the companies said they were still pursuing a previously announced sale of C-BASS,

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Nye Lavalle
Gary, I like you, but have to respectfully and GREATLY disagree with you. After Bear, Goldman is the worst, slimiest and most crooked Wall St firm. Even a partner at their firm confirmed this with me a few weeks ago.

Goldman would be like Bear and EMC, and it would also use Litton to futher hide and conceal their TOXIC waste and buybacks and get an edge of "data" for analytics purposes to model new structures to sell to our pension funds. Best bet for Litton and the crooker Larry's demises are their total collapse and bankruptcy instead of the godfather saving the hitmen!
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These crooks are all sure of their immunity their ego and inflated sense of self worth does not allow them to view themselves as fall guys though in fact they are.

 

BoA, Citi, Deutsche fund and purchase these criminal lenders and servicers and they work hand in hand with the crooks on Wall street Goldman, Merrill Lynch, Morgan Stanley and the rating agencies such as Fitch which was formed the same year as the Fed itself.

 

These crooks work as a wolf pack they very well may compete against and even hate each other but they have a common purpose of looting our assets without actually getting a job like the rest of us have to pay bills. They will turn on each other as the sub-prime and alt-a ship sinks and they are left holding the bag, but this was designed from the beginning they key question is who really does hold the notes.

 

Fitch ratings is a London and N.Y.C. based company that was started to profit from the Bank of England fractional reserve system which was foisted on the American public in the hysteria proceeding WWI it was designed to make a fortune for a handful of people using other peoples money as seed.

 

Fitch Ratings, Ltd. is an international credit rating agency dual-headquartered in New York City and London. It was one of the three Nationally Recognized Statistical Rating Organizations (NRSRO) designated by the U.S. Securities and Exchange Commission in 1975, together with Moody's and Standard & Poor's. A. M. Best and Dominion Bond Rating Service have subsequently joined those three as NRSROs.

The firm was founded by John Knowles Fitch on December 24, 1913 in New York City as the Fitch Publishing Company. It merged with London-based IBCA Limited in December 1997, and is majority-owned by Fimalac (From Wikipedia.fr: Fimalac), a Paris, France-based holding company. In 2000 Fitch acquired both Chicago, Illinois-based Duff & Phelps Credit Rating Co. (April) and Thomson BankWatch (December). Fitch is the smallest of the "big three" NRSROs, covering a smaller share of the market than S&P and Moody's, though it has grown with acquisitions and frequently positions itself as a "tie-breaker" when those other two agencies have ratings similar, but not equal, in scale.

Stephen W. Joynt is Chief Executive Officer of Fitch Group, Inc., the parent company of Fitch Ratings, Algorithmics and Fitch Training. Joynt also serves as Chief Executive Officer of Algorithmics, Inc. and as President and Chief Executive Officer of Fitch Ratings.

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One good thing about this site is everyone keeps each other on their toes! lol  
 
I have given some thought to what Nye and others have said, I have to agree, Goldman is more than likely to be another operator.  However I feel pretty certain that should this sale go through, the LARRY'S will go shortly after the sale. 
 
Too much liability exists with them.  The sale as I understand it, is assets only, so the past present and maybe future liability will most likely have to be dealt with from the existing management, CBASS/MGIC/RADIAN. 
 
One crook to another is what I'm hearing you guys say, and from what we know about these guys, their hands are not clean.  I just personally have a good feeling that this company was forced to be sold because of what we have done here, and the victims of Litton Loan rising up and fighting them in thousands of courts across this country.

Larry Litton, is a known TERRORIST, we all know that, he and his father have caused untold pain, suffering and stress to families that they could never be forgiven for. 
 
We can only continue to go after them after the sale is done, and try and take away what wealth they have through litigation.  At least that is my position.  I still think it's a good thing.  It marks the beginning of the end of these TERRORISTS!
 
CBASS will now be exposed for its reselling of mortgages, and the Bonds that they sold, then stripped the equity from by foreclosing on them using LITTON LOAN is being exposed.  CBASS most likely will not last through the next year!  (my prediction) I have many thoughts on this, and much information I can not share, but the chickens are coming home and the eggs are being broken, one at a time! 
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Inside Litton
Send Mr. Larry some Chocolate. Mr. Larry likes to eat the chocolate if you get my drift!
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.

Fairbanks/SPS - CSFB
Litton - Goldman Sachs
EMC - Bear
I see a pattern here. CSFB learned from Bear, Goldman learned from CSFB how to keep a pit bull out in the back yard to eat the leftover parts they don't want anyone to know about.

And no one will touch Ocwen until the lawsuits are settled.

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Your right about Ocwen, it has its own problems, and they appear to be growing, meaning more litigation, and state regulators looking deeper into them.

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They may have bitten off a bit more up here too. We'll see in the near future....

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ILENE

You people are something else. You know nothing about the business. You blame other companies because you are having financial difficulty, and then you blame someone for YOUR problems.

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4 justice now
FWW:

Ilene is just clearly just another MS Fraud skank attempting to discredit victims, hoping that she can satisfy her greedy, thieving masters. No worries Ilene, we all know who and what you truly are.

4J
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srsd
Ilene,  I am not sure what you are referring to...."You know nothing about the business"......if it is about mortgage fraud, maybe we haven`t figured out all of the ways we have been screwed but we have figured out a lot......if we are in the wrong, why did Ameriquest make a settlement with 49 states??( I guess they just wanted to give their money away)
Why have the legitimate lawsuits that are being filed, being won?? ( I guess because we don`t know anything about the business)

I think there are some very smart people on here that know more about the business than you do.  I sure don`t but there are people that have been spending a lot of money and time traveling around the country being more and more educated on everything that has happened.


As far as these being "our problems"...yes they are our problems because nobody else really cares .


read the message board from beginning to end and you might can learn what has happened to people.....We are not a bunch of dead beats looking for someone to blame.  Most of the people on this site are very educated, professional people.....as for myself...BS in nursing, paramedic and going to college now for psychologist degree(finish May 2008) and I really don`t know much about "the business" but am trying to educate myself more and more everyday.






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We must have touched a nerve with her.  She maybe working for Litton Loan and just learned that she maybe loosing her job!  

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4 justice now
I agree, I had the same impression.

R,

4J
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Originally posted by ILENE
You people are something else.  You know nothing about the business.  You blame other companies because you are having financial difficulty, and then you blame someone for YOUR problems.


Do you have some actual factual information to contribute to our discussions??

Now, lets take a little stock here.  I went to one of the leading business schools in the United States (Wharton) where I was the teaching assistant in the law of real estate finance for three semesters.  Wharton has pretty much the top Real Estate Department in the Country.  I was the president of a Boston mortgage company for two years.  I have been published in Mortgage Banking Magazine.  I know nothing of the business?

Or maybe Professor Katherine M. PORTER, of the University of Iowa doesn't know anything about the business ( http://www.law.uiowa.edu/faculty/katie-porter.php ).  Have you read her study "Misbehavior and Mistake in Bankruptcy Mortgage Claims " ( http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1027961 )?

Perhaps Professor Christopher L. PETERSON ( http://www.law.ufl.edu/faculty/peterson/resume.pdf ).  Have you read his paper "Predatory Structured Finance", Cardozo Law Review, Vol. 28, No. 5, 2007  ( http://papers.ssrn.com/sol3/papers.cfm?abstract_id=929118 )?

Though I haven't seen any posts from either of these law professors in this forum, I think that several of the participants ARE at least familiar with their work!

Perhaps you can share with us YOUR mortgage banking credentials!  And no doubt you speak with such confidence and authority that you will feel comfortable posting for attribution under your OWN REAL NAME, as I do, rather than under a pseudenym.

NOR am I any liberal or radical.  To the contrary, I am a conservative Republican.  But I am one who finds it ABHORRENT that major financial institutions are engaged in wholesale fraud.  And it offends my sensibilities when I see indications of routine evidence fabrication, a fraud upon our courts.  I am certainly NOT rooting for a meltdown, but neither would I support a bailout of those who orchestrate fraud and criminal behavior, not just those responsible, but rather the irresponsibile culprits who brought about the crisis.

*

Nor have I been delinquent or DEFAULTED on ANY mortgage obligations.  Instead, I have found myself involved in litigation with a mortgage servicer as a consequence of my brother's death.  I KNOW that you are going to find this incredible, but when my disabled brother DIED, he apparently stopped making mortgage payments!  That wouldn't have been a problem had the mortgage investor followed through on a commitment to an assumption.  But alas, the mortgage investor broke their word and failed to honor their commitment!

Now in my own remarkable case, two major financial institutions have made false statements under oath in claims and pleadings, two false affidavits have been offered into evidence, and various false averments have been made in discovery responses.

UNLIKE so many UNINFORMED borrowers, I am hardly a pushover.  I can usually RECOGNIZE when the plaintiff is LYING.  AND, happily, I can also PROVE IT.

I am NOT in any danger of losing my home.  To the contrary, the alleged mortgage investor is about to have its alleged mortgage indebtedness extinguished by court order.  Afterwards, some people are going to be facing prosecution or disciplinary action!  SO WHO IS THE FOOL HERE??

Somewhere along the way I NOTICED A PATTERN.  The pattern is readily discernible and VERY CLEAR.  The pattern involves fraud which can be and will be readily demonstrated by leading financial institutions.  I speak with the authority that I have EVIDENCE of fraud by these institutions.  And I have no difficulty finding further conclusive evidence of fraud within publicly available records.

So if you have a POINT, Ilene, let us know what it is.  Hopping onto a message board and demonizing the participants with your patronizing and absurd post doesn't really prove anything except that you have little to contribute to informed discussions.  If you have a REAL POINT, what is it??   
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ILENe

I can honestly say that bad lenders and servicers should go down if they are breaking the law. I have no problem with that. But I have a problem with people who blame their problems on companies that just service the loans. I know various people at various companies and things are not always the way disgruntled home owners claim.

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Any time you would like to have a discussion about any particular servicer I'm available, just email me!  As for your comments they are not supported by the number of law suits, the commonality of complaints of servicers actions.  If your interested we could discuss the LITTON LOAN LP TERRORIST group.  Perhaps you could explain why they did not accept or cash checks, including Cashiers Checks from loan holders, or why they "Forced Placed" a bogus Lloyd's Insurance policy on thousands of mortgage holders, charging them thousands of dollars for the "Group Policy" and misleading them as to making them believe they had "Property Coverage" when in fact, it covered nothing for the owner, only Litton Loan and CBASS?  Or what about Benny Hibler at Litton Loan, falsely reporting payment history's to damage the credit history to prevent the mortgage holders from refinancing to another company.  Or the other low life's as Marvin Martin, Larry Litton Sr. and Jr.  And the one I like the best they PREPAID FOR FORECLOSURES MONTHS AHEAD OF TIME!  
 
Come on girl, tell us who you work for! Give us some names of companies, or employees, otherwise just go the hell away, and suck up to your boss for a raise.
 
I just love those that think they know it, only to find out they are the future victims.  I can only hope you work for Litton Loan, and will receive your notice soon!  Then we can hear you squeal all the way through the unemployment line.
 
Many of us here use are own names, and our identities are well known amongst us, we may never all agree on everything, but when someone like you comes along it just increase's our resolve to push forward.  I like many here are generally conservative, and have found yourselves in total disgust of both political parties now.
 
Come on tell us who you work for! Or at least some of your "Sources" that told you something. 
 
I encourage you to read some of the case's here, and documents, slowly but surely the truth about this massive fraud against the American people is being exposed.  And many of us were saying this would happen several years ago!!!
 

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ILENE

4 justice now wrote:
FWW:

Ilene is just clearly just another MS Fraud skank attempting to discredit victims, hoping that she can satisfy her greedy, thieving masters. No worries Ilene, we all know who and what you truly are.

4J


Greedy??? Oh this is good. Who is my master?
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~beenawhile
ILENe wrote:

I can honestly say that bad lenders and servicers should go down if they are breaking the law. I have no problem with that. But I have a problem with people who blame their problems on companies that just service the loans. I know various people at various companies and things are not always the way disgruntled home owners claim.

~~Oh, FOR PETE'S SAKE,

Ilene, do you really think "all" these people you know @ these various companies, ARE GOING TO TELL YOU, THAT THEY COLLECTI ILLICT FUNDS DAILY?????????

Come on now,  Ilene! These people receive bonuses for jobs well done, when they can force a borrower to pay thousands of dollars in extra fees.

It's not about how well you think you know the, They will never in their lives, TELL YOU, they torcher people with the roof over their heads. They will never tell you they are a HUGE, & VAST majority the single cause of Homelessness WIll tey ILENE?

The comment you made is absoltuely absurd.
Please stay on this board, and learn more. Much more, so that you may form a TRUE, CORRECT, OPINION, & maybe find compassion in your heart for the sufferings that happen, to innocent, families & children.

WE PAY OUR BILLS. WE PAY THE SERVICES WHAT THEY WANT TO KEEP OUR HOMES, UNTIL WE CAN NO LONGER AFFORD TO PAY THEM.

Children are going hungry because there is no food on the table.

Let's make this simple.

Say you mortgage payment was 500.00 per month fixed. Your Servicer said "Oh well look you have fees, that you need to pay or we will foreclose on your home. But we'll be nice & break it down for you over a 6 month period. Your payments will be $904.00 per month."

Whatcha gonna do? You gonna pay it, or lose your home, that you spent 10 years in? You think well screw this im just gonna sell the house. But then you find out the "Pay Off" amount of you home is now MORE than what you bought the house for. LOL, selling you home isn't profitable for you then is it? Nope! So Now you're stuck in your home, because you dont want the Servicers to receive all those years you worked your azz off, to have something to show for your hard work.

GAWD..... you're screwed.... No choice but to pay it.

So  now ya pay it,, but other bills are suffering. How bout that average electiric bill of $389.00? Water, Telephone, Garbage, Auto insurance. Grocery? Little by little the other bills begin to fall behind, until there is no money left for something.
What will you give up, water? food? Electricty? to keep your home, & your children from being homeless?
Oh yeah, & consider all the late fees, you'll have to pay on all of those other bills too. They usually become compounded month after month.

It's a vicious cycle ILENE, & it keeps going on month after month, until there IS NO MORE MONEY! That's why people are having to file for bankruptcy, to save their homes, their families. What do you think this does to a marriage ILENE?
Ha ha we can all tell you the sufferings there. Some are strong enough to hold on, some are not. The torment, the hell, the stress, but yet you can't just give up & let them take the home, because it's a matter of what is right, & when you fight you're not only fighting for yourself but for the rest of the Americans, that will suffer. You fight so your children won't have to go through this same stress & life of hell when they are grown. We fight for the little old ladies, and disabled men..... We CANNOT LET THEM WIN.

So Ilene, it's not a matter that we bit off more than we can "CHEW", it's a matter of suffering from ~EXTORTION~ (can you say that word)?

 So how did the families with no food on the table, or bankruptcy, or homeless get there Ilene?

~FROM THE SERVICERS~!

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~beenawhile
about all the typos. I have alot of "you" words without the R so add the R where appropriate. I was mad & typing quickly.

So now Ilene, it's also not a matter of us being uneducated either. Just had to explain that, so you didnt try that method next.


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Well "I" you seem to watching the board. Tell us something about your "Friends" their companies, and their good jobs.  Something to show us you have some information, evidence, or even a little substance of your knowledge.  I have seen nothing! nor heard nothing from you. Like most plants to this site! 
 
Remember you IP number is recorded to this site, and in the past we have tracked a number of individuals working for Litton Loan, CBASS, and MGIC along with countless others, if your IP comes back to any of these, you can be sure discovery will include your computer.  As a litigant against Litton Loan our discovery is including any and all information.  In the past they have denied it, but we now have a number of IP numbers registered to them and will be asking for some very pointed questions when they respond to our discovery!  Maybe we will be meeting you or some of your friends.  Because frankly, your friends are not mine! 
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I'm the owner of monicamendezrealty. I have been a long term investor to Goldman Sachs and hold 18 percent of the companies shareholder stock. It angers me that a company I stand behind is buying a piece of trash. I have had an awful relationship with Litton. My uncle purchased a home and his mortgage was sold to Litton. After two years of making on time payments they started harassing him. He had high blood pressure so his doctor advised him to get some legal aid. He couldn't afford any so I had him sign a POA agreement. I talked to them for two months requesting payment records. Sending them copies of checks. The records should I add clearly stated the payment was received. So I sent them a letter requesting them to validate their debt. Now all of a sudden they didn't know who I was and refused to talk to me. They started calling my uncle again. I warned them on various occasions of his condition but they wouldn't stop. He had a heart attack and the outcome wasn't good. I took those bastards to court. I won him the house but unfortunately he won't be able to live in it.
I see mixed messages on this message board some would like Goldman Sachs to buy and others think their out of their minds. I stand with both groups. Goldman Sachs purchase would allow me to make some company changes. But I also don't want my money to reach dirty hands. Please let me know which way you would like me to vote. Oh and just to make this clear anyone on this message board that any employee that has defended Litton on this message board will be the first to go.
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4 justice now
Monica,

I'm very sorry to hear of your Uncle's poor health. Unfortunately, his situation is just one of many that are clearly a direct result of the Litton's thieving, criminal behavior.

It's comforting to know that someone in your position is willing and able to assist those who have been victimized by this incredibly blatant fraud.
Very seldom do I see an investor who has any priorities other than simply increasing their profits.

Your perspective as an investor in this matter is very rare indeed and for that I wish to say... thank-you very much!

R,


4J
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Monica, I'm sorry about your uncle, but he is really just one of thousands that have been injured and hurt by Litton Loan, I began this thread, believing that Goldman would get rid of LARRY'S, but they have not, so I'm assuming they are using Litton Loan to clean their own dirty laundry, and by not changing the management, they have chosen to continue the corporate culture, and not make changes that we were hoping for.
 
Feel free to contact me.

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Ann Holden
Easier to hide the FRAUD...

http://www.bearstearns.com/

http://www.reuters.com/article/idUSN1620390420071016

http://www.theeagle.com/PrinterFriendly/BOA_to_acquire_Countrywide

http://www.housingwire.com/2007/03/01/citi-inks-option-to-buy-ameriquest-argent-wholesale-ops-insurance-for-warehouse-float/

As I have stated in the past...

THIS WAS ALL PLANNED.
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