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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Thought you might like to see how battered the stock market for mortgage related company stocks are today. This is what will get things changed.

Company                 52-Week High         Today


Bear Stearns                 $172.61                 $96.11
Fannie Mae                 70.57                 48.74
WAMU                         46.38                 19.72
Citigroup                 57.00                 33.38
Merrill Lynch         98.68                 53.64
MGIC                         70.10                 19.23
PMI                         51.46                 10.71
Radian                 67.35                 9.06
Countrywide                 45.26                 13.62
IndyMac                 48.14                 10.41
AMBAC                 96.10                 24.44
Morgan Stanley         75.50                 50.08
Lehman Bros         86.18                 55.55
Freddie Mac                 71.92                 44.75

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Thanks for posting these Nye, the wolfs are gathering, I'm hearing MGIC is going to have some bad news announcements soon!   The Litton Loan sale is tough going for Radian and MGIC.  CBASS is living on borrowed time now.
 
 
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   Couldn't have happened to a nicer class of SC**BAGS...!!!
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Ed Cage

Great subject and post Nye!

 

Citi Residential may be in even more desperate trouble than their 41% drop indicates.. They just hired well known infamous fraud criminal James Brantley who was in no small part responsible for the collapse of both Ameriquest and AMC Mortgage.  The infamous Brantley is a ruthless criminal and liar who cheated thousands of customers and even their own investors. I talked with him in person last week and told him I was surprised Citi hired him as their new top crook.  He's a buffer of insulation between the President of Citi Residential.  He's capable of any mortgage fraud scam you can name and his actually created hundreds of new illicit methods to cheat their customers. He officially confirmed to me that both Ameriquest and AMC were completely "out of business."

 

I told Brantley he would be going to the penitentiary this time if he had ever been convicted of mortgage fraud or a felony before.  I then asked him directly if he had a criminal record.  He declined to answer.

 

The fact that Citi hired a well known professional scamster for a position that high is something Citi will have to explain to their stock holders when Brantley leads Citi Residential into financial collapse (It is inevitable.) due to an avalanche of criminal investigations and fraud.  That's Brantley's infamous record at AMC/Ameriquest. Crime, Cheating, and Collapse. I told Brantley I could not file my 2005 taxes because my 1098 from AMC reflected that I paid $1,000 more interest than I really did. Although this would clearly help me, it’s one of the many nutty things that happen when a principal payment is incorrectly credited to interest.

 

The stockholders will be out in the street with torches when they discover Citi’s method of turning red ink into black ink was to hire an arch mortgage fraud criminal.

 

          *****************

          A better bottom line at
Citi Residential through criminal fraud
          is the new Citi motto.

          ****************

 

Ed Cage

1804 Cross Bend

Plano Texas 75023

972-596-4363

ecagetx@tx.rr.com


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