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
h gosh
I believe the best laugh is the quote from Ocwen when asked about the waiver of legal rights clause in their modifications:
Some advocates were particularly surprised to find that Ocwen had used the waivers, considering the servicer has been leading the industry in doing loan modifications. But Paul Koches, general counsel for Ocwen, said his company was just as surprised, and called their inclusion a mistake.

The waivers had been “fairly standard practice” in loan agreements for years, he said. But in late 2008, after meeting with representatives of the National Community Reinvestment Coalition and hearing concerns about the waivers, Ocwen agreed to remove them from all loan modification agreements.

The company assumed all the waivers were gone, until Thompson’s testimony showed otherwise. Ocwen then realized one of its old forms still included the waiver. Ocwen is working to fix the form. Only a handful of borrowers were affected, and they’ll be assured the waivers won’t be enforced, Koches said.

Loan Servicers Work the Fine Print in Obama Foreclosure Plan

A Year After Calls for Reform, Borrowers Still Forced to Waive Legal Rights for Loan Modifications

Even as the Obama administration presses the lending industry to get more mortgage loans modified, the practice of forcing borrowers to sign away their legal rights in order to get their loans reworked is a tactic that some servicers just won’t give up on.

Waivers requiring borrowers to give up any legal claims related to their mortgages, even in cases where they might be victims of predatory lending, are showing up sporadically in loan modification agreements under the Obama administration’s Making Home Affordable plan, consumer attorneys say. They were stunned to find the legal waivers still being used, despite more than a year of efforts – including calls from lawmakers – to get rid of them.

The entire article can be found here:

Quote 0 0
Paul Koches is "surprised"??? Really?

Koches has been Ocwen the Honest's legal counsel for years, but he is continually being blindsided by these "surprises". Evidently, Koches is just a mouthpiece for the Ocwen Mob and NEVER dirties his own fingers looking at Ocwen's own legal templates to check them for, well, "legality".

Koches never knows why "Ocwen the Honest" is getting sued every single day and says all those suits are "without merit". Does he read the suits or is that the mouthpiece script that he is given? Inquiring minds want to know. It is a pure wonder that he has not fired the entire legal team for these "mistakes" and "oversights", isn't it?

Wonder if he got rid of the putz that tried to sue MERS...oh, wait, I believe that some of those those papers had Koches own name on them. I suppose he was "surprised" that the MERS suit was "without merit" and had to be withdrawn to avoid any more embarrassment for Ocwen the Honest, as well.

Arkygirl is NOT surprised at all. More of the same ol' servicer lies.

The servicers have used this "honest mistake" ploy for years to cover up their frauds. "But your honor, it was (A) a mistake, (B) an oversight, or (C) a computer glitch." Take your pick. Sometimes they use variations of A, B, AND C in the same pleadings.

How many years has this been going on now? Didn't Fairbanks use the "honest mistake" excuses back when dinosaurs roamed the earth? They are still getting away with it, too. When will Congress open their eyes and acknowledge that these are NOT mistakes but a sustained and systemic pattern of abuse that can be traced back to the Mesozoic Era? Anyone making this many mistakes should be swooped up and locked up as a menace to themselves and society at large!

Just how dumb do they think we are??

Quote 0 0
Write a reply...