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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For many of us that have visited this web site for years, all these companies were well known players in the Meltdown.
 
Well it now appears that MGIC will follow CBASS into Bankruptcy,  its stock has fallen to just above $2, and the state of Wisconsin must be reading plans to take control,
 
The failure of CBASS/Litton Loan/ and now apparently MGIC can be traced to GOLDMAN SACHS.  Its back door workings with TONY ETTINGER contributed to Goldman's profit, and the demise by targeting morgtages in Pool and Servicing Agreements serviced by Litton Loan, under the control of CBASS, and the computer system RADAR. 
 
By causing the intentional failure of mortgages within the PSA, Goldman would file insurance claims with AIG. Within weeks, Goldman would receive the "insurance" money from AIG for the defaulted mortgages. This is why AIG failed first in the meltdown, and why AIG paid Goldman over $40 Billion from  TARP money without the Treasury knowing about it... until after the transfer of funds was done.
 
Well, MGIC/RADIAN  were sucked into this scheme by none other than TONY ETTINGER who sold CBASS to them for nearly a Billion Dollars. 
 
Litton Loan filed tens of thousands of foreclosures having named BANK OF AMERICA as trustee, but in fact BOA never knew or was informed of the defaulted mortgages, or the AIG insurance claims being made through GOLDMAN SACHS.
 
 
SO WHY ISN'T MGIC and RADIAN SUING TONY ETTINGER, GOLDMAN SACHS, OR THE JUSTICE DEPARTMENT INVESTIGATING RADAR?   Do you think they know the scheme? I think they had to, but were double- crossed, through the back door with Goldman Sachs, and that's why Goldman had to buy Litton Loan; to tear down RADAR and destroy the electronic trail before they sold it to OCWEN.
 
Now its MGIC's turn to fall on their sword!
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