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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robotfish
I purchased my house in California in 2009 on a 30 year fixed-rate mortgage.  The loan was with Bank of America.  Two weeks ago (August 2013) I got a letter from Bank of America saying they had sold my loan to M&T Bank.

M&T Bank has sent me a statement asking for my bank account info for auto withdrawal.  They have not provided a payment book or payoff amount, or any other paperwork proving they now own the loan.

What should my next course of action be?  I have no problem paying the mortgage but would like to do my part to prevent fraud by these banks.  I also don't want to wind up in a situation where I have paid one bank but the other wants me to pay it too.
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Football 48
As per RESPA, they are required by law to verify the debt and their response must be done as per the law.
Depending upon what state you are in, if they do not respond properly, go to your AG.
Many AG's are investigating these servicers and the huge volume of transferring MSR'S. CFPB is also investigating servicers..
I would also make sure you get a full accounting of your loan...it is widely known some of these transfers are not going smoothly as software systems are not compatible and crucial information is being lost.
Do all by mail certified receipt and start building your file including any telephone communications.
It is not uncommon to have your phone calls go unanswered for the next few weeks. Then they conveniently declare default.
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Ike
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What should my next course of action be?  I have no problem paying the mortgage but would like to do my part to prevent fraud by these banks.  I also don't want to wind up in a situation where I have paid one bank but the other wants me to pay it too.

Your strategy should be the same as before the sale.

If you have substantial equity in your property and the cash flow to pay your mortgage, you should make your monthly payments.  If you are deeply underwater and owe far more than the property is worth, you should strategically default.

You should never default when you have a lot of equity in the property.  You should always default when your net borrower equity is deeply negative. 

The identity of the owner or servicer of the debt is completely irrelevant! 

Anyone who encourages you to default when you have the cash flow to make payments and significant equity in the property is a scam artist!!
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Raven
What is your definition of strategic default?
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texas
Do not answer that question...
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Raven
Texas,

You have a very dark outlook.

People come to sites like these for 'genuine' help.

I hope the moderator starts looking at your mean posts and I hope you will go else where.

BTW...it makes all the difference in the world if a lender v. a servicer collects monthly payments. As is evidenced by the lead story on this web site Szymoniak v. Ace Securities...it warns of the horrors many servicers are engaged in.

You can feel the energy you carry and others should proceed with great caution regarding your advice.
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texas
Raven, how is not making an admission become a process of being a dark outlook.

Damn right, people need to use caution in all they do.
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Raven
robot fish,

Have you considered having an attorney draft a QWR?

You can also draft one yourself.

If they refuse to answer the QWR...then you know something is wrong.

We have a very concerned AG and they allow us to copy them on all of our correspondence.
They have been extremely helpful.
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