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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The Equitable One
I've been aware for some time that reductions are not much of an option, particularly when offered or arranged by mere servicers (thought this also applies to trusts and trustees). Now I've finally seen it in print in a mainstream news source - NYT.

This language appears about 3/4 of the way through:

"In any case, he said, Chase cannot rewrite most of these deals. The bank’s contractual arrangements with the investors do not allow for principal reduction."

The full article is here:

 http://www.nytimes.com/2010/04/14/business/14mortgage.html?th&emc=th
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