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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Massive foreclosure fraud's scope revealed by transcripts

Reported by: Marissa Mike

Reported by: Phillip Moyer
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Updated: 12/09 8:16 am
LAS VEGAS (KSNV MyNews3) -- The massive robo-signing scandal that throws into question tens of thousands of Las Vegas foreclosures is unfolding. Newly-released transcripts from last month's Grand Jury hearing shed light on how the foreclosure fraud went down.

The transcripts include last month's testimonies from investigators, homeowners, temp workers and four notaries.

The workers, who were employed at Lender Processing Services (LPS) under Gary Trafford and Geraldine Sheppard, admitted to forging signatures on tens of thousands of notices of default.

Most blamed fear of unemployment for their decision to forge signatures and break the law. One notary said she needed to keep her job while getting through graduate school, another said he had a family to support.


Trafford and Sheppard are accused of running the scam by advising their employees to forge signatures on notices of default between 2005 and 2008. Those documents got the ball rolling on many Las Vegas foreclosures.

Read more at http://www.mynews3.com/content/news/story/Massive-foreclosure-frauds-scope-revealed-by/Jj-a3x51MkiKX0oSstzSUQ.cspx
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