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
Blossom
Loan servicers face fire
Boston Globe, Posted by Binyamin Appelbaum February 21, 2008

The role of mortgage servicers -- companies that collect payments from borrowers -- is starting to receive more attention. These companies don't make loans, and they don't own properties, but they generally are responsible for deciding who will be foreclosed, and for reselling foreclosed properties.

Maryland has just become the second state, after California, to require loan servicers to provide the state with lists of home owners who may face foreclosure. The emergency regulation is intended to help the state contact those borrowers before they fall so far behind on payments they can't be helped.

The state also announced an investigation of Ocwen Financial, one of the largest servicing companies. Ocwen has been in the news in Boston as it attempts to evict a woman from a Dorchester home.

Mayor Thomas Menino has also singled out servicers as the group most crucial to the city's efforts to prevent foreclosures. The mayor has said some companies are working with the city while others are not.

Meanwhile, as you've probably seen, local foreclosures keep piling up.
                                   

MD Governor Introduces Servicer Regulations

Mortgage Servicing Companies Stiffing Maryland Governor On Call ... For Foreclosure Summit?

Quote 0 0
srsd

What are the cities going to do with all of the displaced people and what are the companies going to do with all of the houses they have stolen?? I know a lot of the houses are still sitting empty in our town that was on the market last year.

Quote 0 0
Write a reply...