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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
arkygirl
OK, local math gurus...figure out how many seconds were devoted to studying each foreclosure action in the past week. I don't count all nine days because we all know that bankers don't work on weekends and holidays.

Aw, never mind. They probably just needed to give the doc mills time to catch up. Undoubtedly, homeless people on every street corner were hired to sign affidavits for a fixed fee....$.50 per signature or something. There is no way too much attention could have been given to 102,000 cases in such short a time.

CHARLOTTE, North Carolina | Mon Oct 18, 2010 4:02pm EDT

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp (BAC.N) said on Monday it was partially lifting a self-imposed nationwide moratorium on foreclosures.

The bank said it would lift the halt on foreclosure sales in the 23 U.S. states that require a judge's approval for foreclosure.

In the remaining 27 states, Bank of America's foreclosure halt will continue, though it projects that less than 30,000 foreclosures will be affected in those areas.

The bank said the first of  102,000 amended foreclosure affidavits will be filed on October 25 with state courts.

The largest U.S. mortgage servicer suspended foreclosure sales on October 9, to review its internal processes after a public furor erupted over reports that lenders may have failed to provide adequate documentation in the foreclosure process.

"As was the case for our judicial state review, our initial assessment findings show the basis for our foreclosure decisions is accurate," said Bank of America Home Loans spokesman Dan Frahm in a prepared statement.

(Reporting by Joe Rauch. Editing by Robert MacMillan


Quote 0 0
arkygirl
Darn, the link!!

http://www.reuters.com/article/idUSTRE69H4PF20101018

Quote 0 0
Margaret
Yes, they see that nothing is being done about this, so why stop.
Quote 0 0
Write a reply...