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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While looking to see what happened in June Reyno's court appearance, look what I found:
San Diego News

18 Charged In Foreclosure Scam

POSTED: 2:30 pm PDT June 15, 2009
UPDATED: 2:38 pm PDT June 15, 2009

An indictment was unsealed today charging 18 people in a scam in which homeowners were falsely told that "land patents" would protect their properties from foreclosure.

Six of the defendants -- Larry Smith, Maria Candida Capa, Margarita Gaviola, Jessica Refuerzo, Julita Whittingham and Edgardo Orcino -- were already charged in a criminal complaint with conspiracy to commit grand theft, grand theft and conspiracy to do a deceitful practice while acting as a mortgage foreclosure consultant.

The defendants are also charged with allegation that the amount of money lost in the mortgage foreclosure scam exceeded $200,000.

Smith, Capa, Gaviola, Refuerzo, Whittingham and Orcino pleaded not guilty today at their Superior Court arraignment. They will be back in court July 20 for a status conference.

Arrest warrants have gone out for the remaining 12 defendants named in the indictment, said Deputy District Attorney Marlene Coyne.

They face similar charges to the original six defendants, Coyne said.

More than 20 alleged victims have come forward saying they lost tens of thousands of dollars in the real estate scam in 2007 and 2008.

Prosecutors allege the defendants sold the bogus "land patents" to homeowners, claiming the victims could pay only 10 percent of their mortgage payment each month and could force lenders to "re-contract" the loan amounts.

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The Equitable One
I posted earlier in another thread in re how easily people are fooled by those skilled at such. This sounds like an example of such.
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4 Justice Now
It's always so terribly interesting to see the contrast regarding the level of vigor used in pursuing and prosecuting those criminals who do not have any of the typical special friends in positions of power compared to all the name brand fraudsters that do. The ones who that are always able to just skate away, so very gleefully, as if it's just another day in Fraudsville USA.

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The Equitable One

As long as most citizens allow it to happen, it will.

People that are awake in their heads in terms of what is going on, as are some to many of the folks posting here and other similar sites, are really in the minority.

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Very true 4J. They pluck these people with no backing so they can stand out on the balcony and wave papers saying see...we are doing our job...look, bad guys...

Unfortunately we here on the boards know it's just a circus smoke screen to keep peoples minds off the real predators. Sad sad sad.

And also very true TEO. It's just too bad more people will not open their eyes. They are all eyes wide shut denying things that we discuss could actually take place here in our country. Soo diluted.
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