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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arkygirl

Feed these non-bound folks some cheese!! BIND THEM! This is the rogue's gallery of some of the worst of the worst. Let's watch this and see how it plays out in a few months....I wish Strickland a lot of luck with this bunch.


Ohio Governor Ted Strickland announced today that nine mortgage loan servicers have signed the “Compact to Help Ohioans Preserve Homeownership,” a pledge to work with the state to stem a rise in foreclosures.

“Home ownership is the very foundation of the American dream,” Strickland said. “I am very encouraged that these loan servicers have stepped forward and pledged to follow the common sense principles we outlined in our compact. These steps will reduce foreclosures in Ohio and bring stability to the families and communities affected by this crisis.”

“At the same time I would urge all Ohioans facing possible foreclosure to contact your loan servicer immediately to discuss your financial situation or call the State of Ohio’s Save the Dream Hotline. It’s a call that can help save your home,” Strickland said.

The loan servicers include Carrington, Citi, GMAC/ResCap, HSBC, Ocwen, Option One, Saxon, Select Portfolio Servicing, and Litton Loan Servicing.

All nine have pledged to take part in a large-scale loan modification effort aimed at corralling resetting adjustable rate mortgages and subprime mortgages.

The companies have agreed to make good faith attempts to contact at-risk homeowners, to create incentives for staff to counsel borrowers and modify loans, and to report all progress to the Ohio Department of Commerce.

The servicers will also enter into a non-binding agreement with the state for a defined period of time, with the agreements currently extended until June 30, 2009.

Ohio has been hit hard by the ongoing housing crisis, consistently having a place in the top ten in terms of total foreclosure filings and foreclosure rate, according to RealtyTrac data.

http://www.thetruthaboutmortgage.com/nine-mortgage-servicers-sign-pact-to-help-ohio-homeowners/

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Ed

Details:

http://loansharks.blogspot.com/2008/04/ohio-is-doomed.html



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Ted,
They don't care, period.
They just change their names when they get busted.

The deal between Ohio and the mortgage service companies is non-binding but Governor Ted Strickland says that will not be a problem. 

"These companies highly value their honor and good name and they will not break this deal with Ohio because it will hurt their standing in the marketplace if they do," the governor said.

source
http://www.myfoxcleveland.com/myfox/pages/News/Detail?contentId=6243916&version=1&locale=EN-US&layoutCode=TSTY&pageId=3.2.1
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Moose

Ann Holden wrote:
"These companies highly value their honor and good name and they will not break this deal with Ohio because it will hurt their standing in the marketplace if they do," the governor said.


I have news for the Governor - these companies don't have standing in the marketplace because consumers/borrowers have no choice. The more ruthless they are the better their real customers (investors and their trustees) and their stockholders like it.

Moose

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arkygirl
This sounds like more political grist for the media mill. Noise without meaning.

It seems apparent that Strickland has no idea what mortgage servicers do, what their place in the food chain is, and has no knowledge of those pesky contracts servicers make with the trusts. Servicers work for the investors, NOT the borrower. Servicers have no real legal standing to do any modifications without the blessing of the investors. "Servicers" are not lenders. "Servicers" don't enter into contracts with borrowers. "Servicers" don't hold or own the original note in most cases.

Borrowers are not "customers', they are "hostages against their will". There is no free marketplace choice by consumers.

There is a hilariously short term limit on this. So in one year (post election, I presume) the servicers who have been stonewalling the process will return to their usual habits with renewed fury.

Meanwhile, various "counseling" agencies will clean up. How, pray tell, does one "counsel" a person who can produce a  perfect record of all payments made and is in foreclosure anyway? What could you say to them? "Gee, you did everything right but are going to lose your home anyway. Sorry."?

The system is rotten from top to bottom and yet they keep trying to slap a butterfly bandage on this sucking chest wound. Does anyone in government even understand how this mortgage system works? It needs to be razed completely. NO ONE should be allowed to speculate and gamble on another person's most valuable asset, their own home. Let them gamble and speculate away their own assets but leave mine alone!

This artificial construction has dealt a huge blow to anything called "property rights" in America. It is getting to the point that no one really knows who owns anything anymore. Chain of title is defunct. Cities and counties are groping in the dark, trying to figure out who to bill for maintenance fees. Doesn't Strickland know this? If not, why doesn't he know it? "Someone" owns half of Cleveland from what I understand but no one really knows who that owner is.

It has also dealt a huge blow to our legal system. For years entities that have no real interest in properties have been allowed to foreclose on those properties. At one time I thought that was illegal, but it seems as though anything goes nowadays. I really like my neighbor's house; maybe I should foreclose on it simply because I see it every day as I drive home and I would like to have it for my own. Near as I can tell, that desire to own my neighbor's place means that I have "an interest" in it.

And where in the wide blue world is Marc Dann? HE seemed to get it.


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Awww, but good ole Ted works his tail off here in oHIo, don't ya know?

People won't be putting their hands on alcoholic beverages at the state fair or on dancers at Ohio's strip clubs, Gov. Ted Strickland decided...

Supporters say it will reduce crime. Angelina Spencer, executive director of the National Association of Club Executives, said her group of adult-business owners will sue to stop the bill. She said courts long have recognized that exotic dance is a protected form of expression.

"This bill is so extreme that it could make handshakes and pats on the back illegal," Spencer said in a statement. "We're going to court and we're going to win."

source
http://www.dispatch.com/live/content/local_news/stories/2007/05/23/leg23.ART_ART_05-23-07_A1_UM6Q1EB.html?type=rss&cat=21

What a guy!

=

Marc Dann's BUSY here in oHIo...
http://www.columbusdispatch.com/live/content/local_news/stories/2008/04/06/HARASSED.ART_ART_04-06-08_B1_6V9RI8H.html?sid=101

http://www.buckeyestateblog.com/

However, they do have the minutes of the state’s Foreclosure Prevention Task Force — which makes it convenient to look at the attendance roster and learn that mortgage servicer Larry Litton, who the PD says “sat on the governor’s foreclosure task force this year” and “told Zurz the compact would be burdensome”, was marked “absent” for all three of the Task Force’s meetings.

source
http://www.callahansclevelanddiary.com/?p=408

Larry DID meet with good ole Ted to talk about payday lending though...

In a recent private meeting with some of the largest mortgage lenders operating in the state, Gov. Ted Strickland asked one of the participants, Larry Litton, why Ohio suffered from some of the highest foreclosure rates in the country?
``He (Litton) did respond that payday lending was out of control,''

source
http://www.freerepublic.com/focus/f-news/1836571/posts

These two, "Hairless, useless nuts" (buckeyes by the way) are just too damned busy with IMPORTANT (mentioned above) issues to be bothered with helping Ohio homeowners STAY in their homes.




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Ohio Governor strikes a deal with TERRORIST LARRY LITTON, wow! Wonder who's golf course, or ranch this was done on?

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arkygirl
Gary, the deal with Litton was probably sealed in a strip club. Then Ted may have realized in a fit of conscience what a stupid thing he had done with this agreement and realized that he had been distracted by all the shiny sequins on the pasties. His solution is to save all the citizens of Ohio from themselves by ensuring that no sorry backroom deals would ever be made in a strip joint again. It might be called "coercion of boobs by boobs", lol.

Litton is worried about payday lending?? Hmmm, what does he call that extortion racket he runs? With all the fees and other bogus garbage added, Litton is probably extorting just as much interest as any payday lender. And, just like payday lenders they don't call it interest, they call it fees. Payday lending sounds like something dreamed up by a mortgage servicer.

But will a payday lender take your home?? Litton Loan Servicing will. How dare Larry Litton take some kind of high moral stance when it seems certain that he has no morals or conscience himself?!! He will throw you, your children and your belongings in the street in a heartbeat.

Arkansas AG Dustin McDaniel just sent a Cease and Desist letter to all the payday lending racketeers in the state with this caveat: "In addition, I hereby demand you void any and all current and past-due obligations of your borrowers, and refrain from any collection activities related to these payday loans," McDaniel wrote.

Over half will leave willingly, knowing that the game is over. The rest will be restructured to cease breaking state usury laws or be prosecuted. Problem solved. Strickland needs to get a clue. If he wanted to rid his state of predators he could easily do it by insisting that laws be followed. Someone has shone their sequins in his eyes, I guess. Anyone know who contributed to Strickland's campaign???

If only it was just as easy to rid ourselves of servicing racketeers!

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NO GAMING IN OHIO BUT...

We are fortunate to have a gov who likes KENO?

Who'da thunk it?

OUR VIEW: Ohio governor's push for Keno to plug gap in budget not prudent
Like antlers on a dog, Gov. Ted Strickland's plan to allow video Keno gambling in bars to help close the state's budget gap is a stunning oddity.

As if Strickland was trying to whisper it, the Keno part of his plan came in the very last sentence of a very long and detailed list of ''budget recalibration'' measures announced throughout state government yesterday.

That one sentence reads, ''The Ohio Lottery Commission will achieve its budget target by enhancing lottery revenues through refreshing game products and adding games, such as Keno and other monitor games limited to age and time controlled settings, such as bars and other similar venues.''

Ohioans twice have voted down casino gambling statewide, and the state most recently banned gaming devices such as Tic Tac Fruit after they sprang up throughout the state.

Strickland's office tried to spin state-blessed Keno as being quite different in nature from state banned Tic Tac Fruit, citing the ''age and time controlled settings'' mentioned in the news release. But no less a critic than former Ohio governor and current Sen. George Voinovich wasn't buying it. Voinovich urged state lawmakers to block the Keno plan, saying, ''This is in no way an expansion of the lottery ... This would be a foot in the door for full-blown gambling ...''

We're not opposed to gambling, nor to casinos in Ohio. We argued in favor of the two casino plans that were defeated in statewide votes more than a decade ago. A casino would have been good for Lorain.

But the introduction of state-run Keno machines ''and other monitor games'' in watering holes all over the state is such a giant leap beyond the current scope of the state lottery it would seem to warrant discussion and decision in the state legislature, if not a vote of the people, in light of how Ohio's citizens have spoken at the polls in the past

Strickland sees Keno generating an extra $73 million in fiscal 2009 and allowing him to protect his tuition freeze for public universities, a tax break for senior citizens and expansion of state health care for children.

The latter three items are worthy reforms and deserve to be spared from the budget-cutting ax, but something as controversial and likely to be challenged as Keno is not the way to save them.

Strickland's sudden attempt to shuffle Keno into the state's deck of gambling revenue could result in a drawn-out political and legal brawl over gambling that would backfire and fail to yield any revenue.

Action is needed quickly to avert the budget deficit estimated to reach anywhere from $733 million to $1.9 billion by June 2009. More-conventional, less-controversial solutions should come ahead of Keno.

For example, a state report due out shortly says Ohio could save at least $50 million by June 2009 simply by returning to a centralized state government purchasing system that would command better prices on everything from pens and paper to vehicles and furniture for state offices and even food for schools and prisons.

The purchasing consolidation sounds a lot more do-able and certain to help the state budget in a timely manner than the Keno caper.

Maybe video Keno deserves a place in Ohio's state lottery mix in the future, but introducing it now, in this surprise high-stakes fashion, is not the way to do it.

The governor should set Keno aside and concentrate on other ways to solve Ohio's budget problem that are a time-proven sure bet.
 
source
http://www.zwire.com/site/news.cfm?newsid=19253699&BRD=1699&PAG=461&dept_id=46368&rfi=6
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arkygirl
Has anyone checked to see if Strickland has multiple personality disorder? "Spin", indeed. Like Linda Blair's head in "The Exorcist"! Ban the devices and then endorse them?

Maybe he thinks bar patrons will be distracted by the electronic gambling devices and less inclined to look at the shiny shaky sequins......

Who manufactures these machines? What company will be placing them in the various locations? Campaign contributors?

This stinks worse than ten day old fish.

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