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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Maurice
Admittedly, the efforts of the site administrator to remove the abusive ads by The Foreclosure Law Center seem to finally have resulted in the exclusion of the banner ads promoting this scam:

The Foreclosure Law Center
http://ssgoldstar.websitetoolbox.com/post/The-Foreclosure-Law-Center-6039326

(Adam was right that these ads persisted for some time after the site administrator indicated that they were being taken down.)

But in place of these ads are a variety of other ads promoting other purported mortgage help that are transparently simply other debt elimination scams and/or loan modification scams.

For example, featured prominently are ads by Mortgage Audits Online, Inc., the vehicle used by promoter/huckster John B. NORTHRUP (alias John B. MORLEY) to sell useless "forensic loan audits":

Mortgage Audits Online, Inc.
http://www.mortgageauditsonline.com/

This enterprise, purportedly operated from 100 Rialto Place, Suite 700, Melbourne, FL 32901, is simply the latest questionable venture of John B. NORTHRUP and Shannon A. NORTHRUP (alias Shannon McWILLIAMS) of Palm Bay, Florida.

See also:

http://www.facebook.com/pages/Mortgage-Audits-Online/332511560168096
http://jsnorthrup.wordpress.com/

These forensic loan audits are well known to be a means of defrauding distressed borrowers:

http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm
http://www.dailyfinance.com/2011/09/26/homeowners-beware-mortgage-mod-scammers-are-selling-an-audit-to/

Of course, Mr. NORTHRUP has also left dissatisfied customers in his wake:

http://www.ripoffreport.com/loan-modification/mortgage-audits-onli/mortgage-audits-online-mortga-dd1c4.htm

http://www.scaminformer.com/scam-report/mortgage-audits-online-mortgage-audits-online-mortgage-online-scam-melbourne-c48057.html

*

It is little wonder that Mr. NORTHRUP is using the forensic loan audit scam to fleece borrowers. Be sure to check out his prior career as a subprime loan promoter with his enterprise MNA Mortgage Company (Florida).
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Lee
Thank you for posting this, Maurice! I was also getting ads promoting the Quiet Title scams being peddled by this outfit.
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f
It is encouraging to see reports that the Federal Trade Commission is finally beginning to become more aggressive in enforcement actions against the Forensic Loan Audit scams:

http://ftc.gov/opa/2012/10/phonymortgage.shtm
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f
It has been previously noted in other threads that ALL loan securitization audits are also scams:

http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt177.shtm
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Adam
I am also getting the ads cited by Maurice from the scam outfit MortgageAuditsOnline. It is unclear why these have not been banned.
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Legal
PLEASE TAKE NOTICE OF THE FOLLOWING DISCLAIMER: Mortgage Audits Online is exclusively a Business-To-Business service provider. Our service is provided to licensed businesses only. We do not assist homeowners/borrowers in foreclosure.

http://www.mortgageauditsonline.com/faq
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Sam
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PLEASE TAKE NOTICE OF THE FOLLOWING DISCLAIMER: Mortgage Audits Online is exclusively a Business-To-Business service provider. Our service is provided to licensed businesses only. We do not assist homeowners/borrowers in foreclosure.

http://www.mortgageauditsonline.com/faq

Yes, Maurice is totally out of line about this. It is OK to defraud distressed borrowers, as long as the payments are laundered through a licensed attorney.

Borrowers should take care to employ a lawyer who will in turn employ the scam artist to engage the forensic loan audit, adding a markup. This way, the borrowers can be more effectively defrauded while the swindlers enjoy some limited immunity against being charged under statutes prohibiting up front fees in loan modification scams.

This makes defrauding distressed borrowers less reprehensible and more socially acceptable! Maurice owes this firm an apology!
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Texas
In response to Sam request for apology. I personally visited the website noted and reviewed the sample analysis. If this analysis is an example of what is offered, then no apology should be tendered.
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t
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PLEASE TAKE NOTICE OF THE FOLLOWING DISCLAIMER: Mortgage Audits Online is exclusively a Business-To-Business service provider. Our service is provided to licensed businesses only. We do not assist homeowners/borrowers in foreclosure.

http://www.mortgageauditsonline.com/faq

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PLEASE TAKE NOTICE OF THE FOLLOWING DISCLAIMER: Mortgage Audits Online is exclusively a Business-To-Business service provider. Our service is provided to licensed businesses only. We do not assist homeowners/borrowers in foreclosure.

http://www.mortgageauditsonline.com/faq


Yes, Maurice is totally out of line about this. It is OK to defraud distressed borrowers, as long as the payments are laundered through a licensed attorney.

Borrowers should take care to employ a lawyer who will in turn employ the scam artist to engage the forensic loan audit, adding a markup. This way, the borrowers can be more effectively defrauded while the swindlers enjoy some limited immunity against being charged under statutes prohibiting up front fees in loan modification scams.

This makes defrauding distressed borrowers less reprehensible and more socially acceptable! Maurice owes this firm an apology!


Are posts by Legal and Sam on the level?? Do these guys really believe that it is OK for these scam artists to defraud distressed borrowers as long as they use crooked lawyers as intermediaries in the transaction.

Surely Legal and Sam made these posts in jest!

Any attorney actually engaging this firm and charging clients for its fraudulent reports ought to be the subject of a bar complaint!
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