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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Its no hidden secret that I am in litigation with LITTON LOAN, nor is it a secret is I have laid out the corporate and personal relationships between individuals behind Litton Loan, who have reaped HUNDREDS OF MILLIONS OF DOLLARS from Litton Loan and CBASS, former owner of Litton Loan, an MGIC/RADIAN.
 
But lets go back further, When MGIC was raking in large profits from CBASS and Litton Loan.  And ask the question?  If a CEO knows that a subsidiary company it manages is involved in "FRAUD" and does nothing, what personal culpability would he have to the investors of his public Company?  That very question is now going to found out, just as RADIAN/CBASS have been sued, apparently will be MGIC.
 
The loss's have mounted by mismanagement, nothing else, MGIC could have changed the course a long time ago when CEO Culver, became aware of the massive fraud being committed by CBASS and Litton Loan, but it appears he choose to turn his head when he became aware of it.  Individuals like me tried to warn him, meet with him, or otherwise communicate with him.  But he choose to do things differently.
 
Lets review the stock values, oh over $70 a share this year to less than $17, today! 
 
Those investors that are left, maybe holding a Bankrupt company soon.
 
Shades of Baldwin many years ago for MGIC, only this time I thinking they will not recover.  Only a huge investor I believe can now save them.
 
 
One mans opinion.
 
 
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Lets watch the spin on Wednesday Morning on the 4th quarter earnings (loss's) of MGIC. 
 
I hope someone in the conference asks about the LITTON LOAN SALE, and what earnings can be expected to MGIC stock holders from that sale!!!!! And the follow up question, the terms and conditions of the sale?
 
Old Republic may have to take a bigger bite of the apple at MGIC pretty soon.  Just to get rid of the dead wood on the board for putting this company and stock holders in such a position.
 
Oh ya, how about that IRS exposure?  How many million now?  $17 a share, I'm guessing falling to 12-13 by the end of the month.  Then MGIC being taken over or filing Chapter 11, sometime around mid year. 
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Let's watch who is going at MGIC tomorrow morning it reports its 4th quarter report, and after today, and watching the activity, it looks pretty bad for MGIC.
 
 
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