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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Massachusetts Regulators Accuse Bear Stearns of Fraud - Wall Street Journal 
By JENNIFER LEVITZ
November 14, 2007 10:38 a.m.

Massachusetts securities regulators filed a complaint accusing Bear Stearns Cos. of fraud for allegedly improperly trading with two in-house hedge funds that collapsed this summer.

Regulators in the office of Secretary of State William F. Galvin say in the administrative complaint that Bear Stearns traded mortgage-backed securities for its own account with the hedge funds without notifying the funds' independent directors in advance.

Advance disclosure of principal trades is required to make sure trades are fair for ionvestors. The failure of the two mortgage-related funds, Bear Stearns High-Grade Structured Credit Strategies Fund and High-Grade Structured Credit Enhanced Leverage Fund, cost investors $1.6 billion. Massachusetts believes it has standing on behalf of state residents invested in the funds.

Write to Jennifer Levitz at jennifer.levitz@wsj.com


 
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Joe B


One word: DUH!!

Here's the thing.... If these trades had MADE money, instead of lost, you wouldn't hear a peep from the investors. After all, its the investors who have asked the regulators to look into these trades!

If the schmoes like us had the pull that the investors in these CDO's and Hedge Funds have, MSFraud would disappear overnight!!

JB
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Sick of it

Joe,

 

I do understand this point but to be real tons of people (borrowers) have been crying out to the government for help to look into the Mortgage Servicing Fraud (mess) and nobody has paid attention. Now that the “investors” who have millions  to spend loosing their money attentions is being paid. What’s wrong with this picture? I am so sick of this.

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Nye Lavalle
its what I told you all years ago and some of you have criticized my efforts. Until investors and pension funds get wary and see they are getting screwed too, no one will listen. MOST don't care about every day or common man or woman. Especially those that are wealthy and greedy.

Why I have told some of you, I don't need this aggravation. When you throw stones at me on here, you're making one hell of a mistake!
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Oh, Boo Hoo, who really cares if you coined the phrases, or if you have spent your family's money on this fraud Nye. MANY OF US HAVE LIVED IT on the front line as well.
Get over your damned self man, and stop this crap.
WE ALL KNOW ABOUT THIS FRAUD. Do you really NEED validation?
Move on man. 
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Nye Lavalle

Anne get a life you old washed up hag!  Who do you think has been attacked more than me.  Get lost and take your loser attitude home

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srsd
I don`t know much about anything except that there is a big mess in the USA at this time.  I do think the stock markets will eventually fall and it is getting close.  The housing industry has hit bottom which will make a lot of other industries fall and the market will start to crumble. The USA can`t stand to have as many homeless people as there is about to be. The USA didn`t have a million people become homeless all at once, it was a gradual process but now there will probably be that many or more with in a very few months ...since the housing market has fallen, look for suppliers to be loosing money because there is no need to build houses when it will be years before anyone can get a mortgage. More people will be out of work because there i no building and the real estate business will start to fall.  I don`t think the worse has hit yet because a lot peoples mortgages are just now getting ready to adjust upward. It seems like everything is about to be in a downward spiral. With the holidays approaching the economy will look like it can hold its own but that is just until after the holidays. 
I agree with Nye 100%. Until the investors see what is happening, we are all screwed. 
Something big is going to happen...it is just a matter of time.
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Ed Cage
Regarding:  Mass. Complaint Names Bear Stearns
CNNMoney. comhttp://money.cnn.com/news/newsfeeds/articles/apwire/c3b9ea19bf823a3a529c4f30497c2c17.htm

Excellent post Blossom!!  In my opinion Bear Stearns is the *worst* of them all and must be stopped.  Criminal charges and a quagmire of class action litigation is a good start. Investors, borrowers, and share holders have all lost money through Bear Stearns ongoing criminal fraud.

 

And great comments by you as well Nye.

 

Thanks again to both of you.

Ed Cage

1804 Cross Bend, Plano Texas 75023

972-596-4363

ecagetx@tx.rr.com


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