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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NACA'S Save the Dream Event: DAY 4 - CONVERGE ON CONGRESS


Last update: 11:11 a.m. EDT July 22, 2008
WASHINGTON, July 22, 2008 /PRNewswire-USNewswire via COMTEX/ -- Hundreds of homeowners will congregate at the offices of Senate Banking and Finance Committee Chairman Senator Christopher Dodd and Senate Majority Leader Harry Reid and the offices of each of their own Senators and Representatives today, Tuesday, July 22, at 1:00 PM. for "aggressive advocacy."
The demand for NACA's solution has been huge, still packed with homeowners seeking solutions as late as 11 PM Monday night - clear evidence that NACA's services are desperately needed.
NACA has helped nearly ten thousand homeowners fashion affordable mortgage restructures that will enable them to avoid foreclosure and save their dream of homeownership. This unprecedented, five day long, mobile loan servicing operation at Washington DC's Capital Hilton Hotel.
Counselors prepare customized budgets that will ensure affordability and long-term stability. Many prominent financial institutions recognize the value of keeping homeowners in their homes rather than having them put out on the street. Some, however, are refusing to provide long-term affordable restructure solutions and need to be targeted for such predatory practices.
Homeowners will visit to demand help from a Congress that has done virtually nothing to provide relief in this mortgage crisis. The homeowners will be requesting that their legislative representatives personally call the CEOs of the banks and financial institutions that are refusing do the right and just thing. They will be asked to personally demand action. Names of some executives and institutions that have acted irresponsibly include:
 
John Stumpf
President and CEO
WELLS FARGO
Alvaro G. de Molina
CEO
GMAC
Stephen Feinberg
Founder and President
CERBERUS CAPITAL MANAGEMENT (owner of GMAC)
John J. Mack
President and CEO
MORGAN STANLEY (owner of Saxon Mortgage)
Larry B Litton, Sr.
LITTON LOAN SERVICING
Owned by Goldman Sachs
Lloyd C. Blankfein
Chairman and CEO
Goldman Sachs
 
"These executives and their companies have put tens of thousands of homeowners under unconscionable pressure" says NACA CEO Bruce Marks. "All we are asking members of Congress to do is to put their influence on the side of the victims of the subprime scandal, call these executives, and press them to do the right thing. We don't need taxpayer bailouts of irresponsible lenders. We do need fair and affordable mortgages."
SOURCE Neighborhood Assistance Corporation of America
Copyright (C) 2008 PR Newswire. All rights reserved End of Story
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NACA'S Save the Dream Event: DAY 4 - CONVERGE ON CONGRESS - MarketWatch link

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I understand the frustrated plight of those who have been victimized by mortgage fraud. But as an observer I find it almost humorous that so many posters seem to think that their posts will be taken seriously under anonymous names with no email addresses.  I happen to believe (make that know) that those with complaints for criminal fraud against mortgage bankers and servicers are on solid ground quite frequently. 
 
But until victims can muster up the courage to use a consistent name even if it is a fake and at least an email address these almost pathetic pleas for help from others will be continued to be looked upon as analygous to some nutty dog barking endlessly all night at nothing.
 
Ed Cage
1804 Cross Bend
Plano Texas 75023
972-596-4363
ecagetx@gmail.com
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I must agree with your thoughts but simply crying about the problems doesn't help anybody although it might make the next reader feel a little better knowing they aren't the only ones having problems.



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Once again, my name and email address are real.  I joined NACA in 2007, paid our fee's participated in some of their events (as part of joining).  Problem was that the mortgage consultant for NACA informed us that if they could not reach a modification that was affordable that because we proved to them that we were victims of PREDATORY AND OR MS FRAUD, that we would be approved for one of their 30 year fixed rate mortgages.  Believing all along that would be achieved the process of having one of their consultants contact Washington Mutual for a modification proved a waste of time.....to make matters worse we were then told we did not qualify for their program? Gee......it would have been nice to be told that Mr. Marks the day my wife and I took off from work (without pay) to pre qualify for your program!  FYI, the bank bought the house for $240,000 at auction (massachusetts) padlocked the door without court orders, finally evicted us and recently sold the home for $119,000.00, court documents from Harmon Law said we owed $340,000 if we wanted to keep the home. 

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