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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A NY Observer
In the case Lasalle Bank Natl. Assn. v. Ahearn, the NY Supreme Court's Appellate Division, Third Department, in an unambiguous opinion dated February 26, 2009, found that a lower court should dismiss due to lack of standing when the plaintiff lacks ownership of the promissory note at the commencement of the suit.

See: Lasalle Bank Natl. Assn. v. Ahearn, 505597, SUPREME COURT OF NEW YORK, APPELLATE DIVISION, THIRD DEPARTMENT, 2009 NY Slip Op 1388; 2009 N.Y. App. Div. LEXIS 1365, February 26, 2009, Decided, February 26, 2009, Entered.  Though this upstate case speaks for itself, it would seem to give solid appellate backing to the decisions being handed down by Justices SHACK, STARKEY, et al, in Kings County (Brooklyn), where an activist bench has essentially STALLED foreclosures due to persistent plaintiff failure to PROVE their ownership of the promissory notes and interest in the mortgage at the filing of the case.

This might be a nice appellate case to cite, especially in New York!

Forum comments are solicited and appreciated!
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A NY Observer
Here is the LINK:

http://www.courts.state.ny.us/REPORTER/3dseries/2009/2009_01388.htm

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A NY Observer

This decision was also recently published at 59 AD3d 911.

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