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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Goldman Sachs, LITTON LOAN of Houston Texas, was previously identified by me and a number of others as a Terrorist operation, this appears to have more meat to the story.  A Federal Grand Jury in Milwaukee Wisconsin, is closing in on lawyer misconduct involving the law firm of GRAY & ASSOCIATES, Used exclusively by LITTON LOAN,  TERRY GRAY, FORMER WISCONSIN LAWYER, and managing Partner of the Law firm has already surrendered his law license in both Wisconsin and AZ. In a recent depostion of one of the associate members of the firm, he may have just thrown the firm and Litton Loan under the bus!!! 
 
A Federal Task force involving the IRS, FBI, and State of Wisconsin Officals has supeaned a substantial number of morgtage files, and have begun an investigation, with a Grand Jury. According to news paper accounts, the IRS has supeaned a number of documents and records.
 
Rumors out of Houston Based Texas, LITTON LOAN, are speculating that hundreds of millions of dollars from Mexican Drug Cartel members were laundered by Litton Loan in thier zeal for forclosures, and money was sent into a number of bank accounts, covering the Pooling and Servicing Agreements that Litton Loan has over seen. Once the money was laundered through Litton Loan accounts, a number of "offshore" accounts were opened for Cartel members to access.
 
MGIC/RADIAN both former owners (46% each) of CBASS former owner of LITTON LOAN are also being investigated for TAX LAW VIOLATIONS!
 
With few places to launder large amounts of cash, the Drug Lords, have found it easy to dispense of large amounts of cash through real estate! This has been a historic pattern by Cartel Members.
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Gary you need your own website for this. You're going to get this site shut down with this crap.
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The web site will be fine, the informaton is whats important.  Money laundering is a signficent problem for drug cartels, real estate has been the one of the largest means of disposing of large amounts of cash to "Clean" it.  Its a very well known practice, that continues today.
 
But of course if you have information that ANY of the above information is incorrect, in accurate, or wrong, your welcome to post it here. 
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Here is a small part of one of the articles: You can find more of the article in the Milwaukee Journal, it identifies by means of case's seized what I was talking about.
 

Waukesha man's claims of subprime lending deception spark IRS investigation

Federal law enforcement authorities are investigating a series of questionable real estate deals financed by subprime mortgages, including the case of a learning disabled Waukesha man who claims he was duped into taking out a six-figure home loan, according to individuals with knowledge of the probes.

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Oh hell here is the whole article printed, but it only tells part of the story so far.
 

Waukesha man's claims of subprime lending deception spark IRS investigation

Federal law enforcement authorities are investigating a series of questionable real estate deals financed by subprime mortgages, including the case of a learning disabled Waukesha man who claims he was duped into taking out a six-figure home loan, according to individuals with knowledge of the probes.

Criminal investigators from the Internal Revenue Service have seized records from the closed title company and mortgage brokerage involved in the 2007 purchase of a central city home by Pedro Medellin, who last year filed a $2 million racketeering suit against 19 defendants. Medellin charges that he thought he was merely filling out papers for a job as a property manager when he was actually being tricked into buying the house at 3200 N. 34th St. and taking out a $103,500 mortgage from Central States Mortgage Co.

Details of that 2007 transaction, which included key roles by two men with criminal records, was first reported in June by the Journal Sentinel.

Billy Joe Cannon, who had convictions for burglary and cocaine trafficking prior to receiving a state mortgage loan originator license, prepared the loan application for Medellin while he was working at United Lending. The state Department of Financial Institutions revoked Cannon's license as a loan originator, or mortgage broker, last year, days after the Journal Sentinel story was published.

Disclosure of law enforcement interest in Cannon and the Medellin case came Thursday during a deposition of Shannon Brazeau, who had owned Signature Title, the now-defunct Pewaukee firm that handled the closing of the Medellin deal, said Vince Bobot, an attorney for Medellin.

At the beginning of the deposition, Brazeau was asked why he didn't bring the files from the mortgage closing to the session, Bobot said.

"He said the IRS had it," Bobot said. "He said two IRS agents came to his house with a subpoena seeking records, and that he turned over what could be as many as 30 files from closings."

Bobot said the files were taken several weeks earlier and that some of the files were for closings involving Cannon, "but I got the impression that there were others files also."

Bobot also quoted Brazeau as saying a federal grand jury was looking into mortgage-related crimes.

Brazeau declined to comment Friday except to say he was not under investigation.

"I'm not giving any information on it - figure it out on your own," Brazeau said. "You obviously got this information, get the rest."

He then hung up on a reporter.

In a separate interview, Sarabjeet Singh, owner of United Lending, said he was twice contacted by agents from the IRS, who asked for copies of files involving about 20 mortgage loans that had been written by Cannon. Singh, who now runs a convenience store in Saginaw, Mich., said the agent told him that Cannon was under investigation. He said the agent said that Singh was not a subject of a probe.

"He called me and said can he have Billy's files, so I gave him Billy's files," Singh said. "Whatever I have that Billy closed, I gave it to them."

In addition to originating the loan, a company owned by Cannon received $38,197 from the loan proceeds. That payment was not mentioned in the closing documents.

Singh said he terminated Cannon last year after learning about the Medellin deal.

Cannon's attorney, Michael Chernin, said his client has not been contacted by federal authorities investigating mortgage deals.

"At this juncture I'm not aware of any federal investigation involving Mr. Cannon . . . and I'm not aware of any grand jury that convened," Chernin said. "I haven't heard from any law enforcement agency that Mr. Cannon is the target of any investigation."

But, Chernin added "it doesn't surprise me that the subprime market is being investigated."

It could not be determined how far along the investigation was, although three sources confirmed that the IRS and FBI are looking into the Medellin transaction among many other possible mortgage fraud cases.

Officials from the IRS, FBI and U.S. attorney's office all declined to comment, citing the policy of their agencies.

JSOnline.com To read the "Easy Money" series on Pedro Medellin and the nation's mortgage meltdown, go to http://www.jsonline.com/easymoney.
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4 Justice Now
To the poster who identifies him/herself as . 

Do you really wish to know what crap is? Its when you attempt to cast doubt on the words spoken by a true professional when it's quite clear you don't have the slightest idea what it is you're talking about.

Besides, I'm sure if there were any for reason for concern at all the MS Fraud Administrators would be quite capable of addressing it on their own.

R,

4J
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PB
Hey Mr  "."  

You are very ignorant of the huge fraud going on in foreclosures and bankruptcies. Wall St. didn't crash for nothing, they know the paper is toxic, there is drug cartel money in loads that bought into the securitized trusts of chopped up mortgages. If you think Gary Wait is not telling the truth you can sue him. It will make your head spin of what comes out. Hey Mr  "."  did you catch the video of the Litton Loan agent bribing a Sheriff with cash on video to work a foreclosure?

P B


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The entire scam of converting mortgages into securities was created in it's present form by Andrew Fastow while at Continental Illinois that's why Skilling of Enron hired him so he could  pull the same scam using political payoffs for protection. The whole idea is to create off the books profits. Mortgage service fraud is a giant money laundering and tax evasion scheme and it's internationally known that art, gems, and drugs are used to launder money. The drug money trail has led to higher places that mortgage crooks and it's well within the realm of possibility.

Gary has worked hard for years to bring these crooks to justice and expose them and drugs are a common avenue for laundered money, it's not an absurd allegation and we should support Gary as well as everyone with a genuine interest in pursuing ms fraud.

My own research into the financial trail has shown possible and probable connections to drug money and I have strayed away from it because of the response of people like . and applaud Gary for having the courage to pursue this path.

Instead of discrediting our own just let them collect the evidence and let the facts speak for themselves. Litton loan is a major player in financial fraud and these crooks have had no problem destroying our economy and putting millions out of work, transferring our assets overseas, and leaving millions without their homes it's absurd to think they wouldn't deal drugs or launder drug money as well. What they have done is treasonous and the most heinous crime in the nation debasing our currency. Lending criminals are the most dangerous type of criminals because they destroy a nation from the inside out and initiate civil unrest and anarchy, especially dangerous in a monetary system backed by taxpayers and faith in government rather than real assets.

It's easy to believe you don't understand this . however standing in front of freight train and believing it can't harm you will not change the outcome.

The founding fathers wrote a blueprint to escape and avoid falling back into Feudalism and their primary concern was to avoid an internal takeover through monetary manipulation and debasing the currency in fact they considered it more dangerous that military threats. It's a good idea to study history to avoid making the same mistakes that have already been made.

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I would like "." to pay particular attention to this article, I would like to comment more, but many of you know I was in Houston about ten days ago, and aware of a number of investigations going on.  Hang in thier Larry we are getting closer!!!!
 
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Curiously high returns on certificates of deposit at a Caribbean island bank operated by Houston-based Stanford International Group raised red flags that prompted some analysts to warn investors to beware.

And R. Allen Stanford, head of the Stanford Financial Group and its affiliated offshore Stanford International Bank, made no public statements Monday to reassure investors spooked by a week of revelations about ongoing regulatory and possible criminal investigations into sales of high-yield certificates of deposit.

Stanford Financial spokesman Brian Bertsch wouldn’t discuss the whereabouts of the Texas billionaire, who lives in St. Croix, U.S. Virgin Islands, or say whether Stanford would respond to depositors’ concerns about their investments.

Stanford mailed a letter to clients last week that sought to downplay the regulators’ investigations, calling their visits to six Stanford offices in the U.S. “routine examinations.”

The Securities and Exchange Commission, the FBI and the Internal Revenue Service are investigating, according to a person familiar with the probes.

While the scope of the probes is unclear, investigators are at least in part looking into the sale of the CDs issued by the bank in the island nation of Antigua and Barbuda.

The bank has drawn federal scrutiny before. In 1999 Stanford handed U.S. Drug Enforcement Administration officers a $3.1 million cashier’s check from the bank after investigators found that a major drug trafficking ring in Mexico had used the bank to stash or launder money. At the time Stanford told the Los Angeles Times that the payment “was the right thing to do morally, and it’s the legal thing to do.”

The current flurry of revelations include reports that investors have been told they can’t redeem their CDs for two months even if they mature sooner. The Wall Street Journal reported Monday that foreign depositors are flying to Antigua hoping to withdraw their money.

Bertsch said only that depositors may withdraw money “in accordance with the terms of their accounts.” He declined to specify if that meant they can withdraw time deposits only when they mature.

Atlanta lawyer James Dunlap said he has clients who have had trouble withdrawing money in Stanford CDs. Dunlap’s firm and another one in Boston have placed Internet ads looking for investors with complaints against Stanford companies.

Florida accountant Bob Parrish said that last year some Florida clients who came to him for tax preparation had a collective $500,000 in Stanford International Bank. Parrish looked into it because the offshore institution lacks federal deposit insurance that protects U.S. bank deposits.

He said he found the bank appeared to act more like a hedge fund or mutual fund than a bank. Rather than using its deposits to make loans, it was making what Parrish viewed as risky investments in fledgling U.S. ventures. But unlike a U.S. mutual fund, the bank’s annual report did not disclose its investments in securities.

“There’s no telling where the money was,” Parrish said. The clients withdrew their deposits.

Consistency a problem

L. Burke Files, president of Financial Examinations & Evaluations, a due diligence firm based in Tempe, Ariz., said he also examined the business and became concerned about the consistent rates of return, “whether the market was going up, down or sideways,” he said.

The SEC has subpoenaed information about Stanford’s U.S. brokerage operations from two former financial advisers who allege in a Harris County lawsuit that they were forced out because they didn’t want to participate in unethical or illegal business practices at the firm.

Others also have sued after leaving the firm. In a 2006 lawsuit filed in state court in Miami, Lawrence De Maria, a one-time public relations writer for Stanford, alleged he was fired for asking questions about practices at the company.

De Maria alleged among other things that a majority of deposits in the Antigua bank came from South Americans seeking to hide money and that Stanford Financial and Allen Stanford made cash payments to Antigua politicians.

Stanford lawyers argued that De Maria lacked firsthand knowledge of the company’s finances. In his deposition, De Maria acknowledged he had no solid evidence to back up some allegations. The lawsuit ended with a confidential settlement in 2007.

kristen.hays@chron.com

mary.flood@chron.com

Purva Patel contributed to this story

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