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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Brian Show full post »
The Equitable One
Another way to look at it Moose is that banks are made of money so they have unlimited resources. Certainly enough to wear down most borrower/defendants.

Dawn, an 80,000 increase in first quarter foreclosures filed this year over last (930,000 this year according to Realty Trac). It is still getting worse. I don't know when it will start to get better. I do know the social effects, impact and consequences will be with us for literally decades.

Quote 0 0
Well, what gets me is how many people just give up.  They don't even show up to the foreclosure hearing or try to fight it.

For God's sake people, at least show up at the hearing and say, "I don't understand" or better yet "I really don't think I owe the amount of money they say I do".

Or you could do what some have done and go to the foreclosure auction and bid on your own you don't have that much money?  Oh well, you just screwed things up for them LOL!!!!  One gal had to pay the fees for advertising.  When she complained to the judge about the bogus charges the attorney added ticked the judge off so bad, he forgot about her.  Oh... as of today, she still occupies her home!  Let's see, that was almost 2 years ago.


Quote 0 0
The Equitable One

I understand your position. But I also understand that most people have no awareness at all of what is going on, or that there are any defenses available. So it isn't the ignorant that disturb me. Instead I'm disturbed by those that know literally nothing about the "grand scheme" but yet maintain the position that all of this is the fault of literally millions upon millions of dead beat homeowners that must have acted in collusion with each other.

Quote 0 0
I had seven strokes and Heart Surgery last year. Litton Loan refused to give me a modification and let me out of the ARM. Now they are trying to take my home. One of the people they had do a Forebearance Agreement stole $5,000. Then, he was not working for them anymore. We are trying to start a fund. We need a million people to give at least $1.00 to this fund every month. We can help saves homes in every state. We have to do something. Nobody is helping us, we have to help ourselves. It should be Mandatory to give Modifications before a company can foreclose. Right now, modifications are only for a selected few. Is this discrimination? Are the Mortgage Companies in cohoots with the Courts? 202-409-4532.
Quote 0 0
I had to bring this thread back, after CHRIS WYATT went public as an "Expert" and whistler blower.
I made a promise here on this thread, to bring class actions against Litton Loan,
Litton being sold to Goldman in 2007 knew what Litton was about, they knew it because Goldman was working with TONY ETTINGER.  Now were finally beginning to come full circle. 
Chris Wyatt, is rolling over on the Litton's, both Jr. and Sr.  Wyatt now has exposed BENNY HIBLER, and MORTENSON, and Litton's own corporation counsel, whom he worked with.   
He's talking just how foreclosures were used to make huge amounts of money for Goldman, as well as others, he was in the "The stratagiy meetings"
Soon, we will be telling the story of LITTON LOAN as a "Criminal Enterprise", and how TONY ETTINGER, set up the operation. 
LARRY LITTON is beginning to see the noose tighten around his neck, and is beginning to talk among what he thinks are his friends.  Those meetings at his home, and places outside of the office. 
The word is now Larry Litton is going to be deposed.  Goldman is trying to keep them quiet, but there is so much hatred between them, there is little chance of them being able to keep the lid on the boiling kettle now.  
yep more class actions!
Quote 0 0
We are victims as well of Litton.  We sent the RESPA Letter. Litton is the Servicer, not the holder of the loan.  The Original Loan was under Bank of America.  We did a title search, some of this stuff have never been documented with the courts.  We have different documents that show we owe different amounts.  MERS is listed as the ower.  Thanks to you all for the information.  We are still in the fight.  It has been three years.  We are not deadbeats.  We are law enforcement.  Our mortgage has been sold three times in the last two years.  They are not responding to the RESPA letters.
contact us at 202-374-2078 for anyone starting a CLASS Action suit.  We still need help.  We have prayed and given this to GOD.  If all else fails we will go to court, tell the Judge we don't know who owns our mortgage because they won't respond to the RESPA Letter and do a short sale.  Don't give up the fight. 
Quote 0 0

if your fighting for your home in court... 

the vampires litton - we all need to get disengaged from - your case .your neck & your life.

Testimony of Julia Gordon Senior Policy Counsel, Center for ...

Testimony of Julia Gordon 

 Center for Responsible Lending

Before the U.S. House of Representatives  

Committee on Financial Services 

Subcommittee on Insurance, Housing and Community Opportunity  

H. Mortgage servicers engage in a range of predatory and illegal 

practices both in the foreclosure process and leading up to foreclosure. 


For at least a decade, community-based organizations, housing counselors and advocates 

nationwide have documented a pattern of shoddy, abusive and illegal practices by 

mortgage servicers whose staff are trained for collection activities rather than loss 

mitigation, whose infrastructure cannot handle the volume and intensity of demand, and 

whose business records are a mess.44  


The most egregious of these abuses include:  


 Misapplication of borrower payments, which results in inappropriate and 

unauthorized late fees and other charges, as well as misuse of borrower funds 

improperly placed in “suspense” accounts to create income for servicers.  

 Force-placing very expensive hazard insurance and charging the borrower’s 

account when the borrower’s hazard insurance has not lapsed, often driving an 

otherwise current borrower into delinquency and even foreclosure. 

 Charging unlawful default- and delinquency-related fees for property monitoring 

and broker price opinions. 

 Failing or refusing to provide payoff quotations to borrowers, preventing 

refinancing and short sales. 

 Improperly managing borrower accounts for real estate tax and insurance 

escrows, including failure to timely disburse payments for insurance and taxes, 

causing cancellation and then improper force-placing of insurance as well as tax 

delinquencies and tax sales. 

 Abuses in the default and delinquency process, including failing to properly send 

notices of default, prematurely initiating foreclosures during right to cure periods 

and immediately following transfer from another servicer and without proper 

notices to borrowers, initiating foreclosure when borrower is not in default or 

when borrower has cured the default by paying the required amount, and failing to 

adhere to loss mitigation requirements of investors.  


These practices have become so ingrained in the servicing culture that they are now 

endemic in the industry.  The harm to which borrowers have been subjected as a result of 

these abuses cannot be overstated.  Numerous homeowners are burdened with 

unsupported and inflated mortgage balances and have been subjected to unnecessary 

defaults and wrongful foreclosures even when they are not delinquent.  Countless 

families have been removed from their homes despite the absence of a valid claim that 

their mortgage was in arrears.   


Perverse financial incentives in pooling and servicing contracts explain why servicers 

press forward with foreclosures when other solutions are more advantageous to both 

homeowner and investor.  For example, servicers are entitled to charge and collect a 

variety of fees after the homeowner goes into default and can recover the full amount of 

those fees off the top of the foreclosure proceeds.45  The problem of misaligned 

incentives is compounded by a lack of adequate resources, management, and quality 



What's more, recent legal proceedings have uncovered the servicing industry’s stunning 

disregard of basic due process requirements.46  Numerous servicers have engaged in 

widespread fraud in pursuing foreclosures through the courts and, in non-judicial 

foreclosure states, through power of sale clauses.  It is becoming more and more apparent 

that servicers falsify court documents not just to save time and money, but because they 

simply have not kept the accurate records of ownership, payments and escrow accounts 

that would enable them to proceed legally. The public is also now learning what 

foreclosure defense attorneys have asserted for years:  the ownership of potentially 

millions of mortgages is in question due to "innovations" and short-cuts designed to 

speed the mortgage securitization process.47 


As noted above, the illegal practices of servicers during the foreclosure process are not 

simply a technical problem.  Due process when taking private property is a cornerstone of 

our legal system, and case after case reveals that this is not just a question of dotting the 

I’s and crossing the T’s, but of unnecessary and even wrongful foreclosures.  The rules 

that the banks have broken in their rush to foreclose were put in place specifically to give 

people a fair chance to save their homes, and without them, homeowners are powerless to 

save their homes. 

Quote 0 0
Angry and not taking it:

You forgot to add that Litton calls people every month (even though they are making their payments on time) just to harrass them.  Oh yes, if you ignore the call, they send you a letter to respond to the Loan Littigation dept within 10 days or else...

Quote 0 0
Write a reply...