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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William A. Roper, Jr. Show full post »
bobbief
Right now it seems the banks are winning.   In truth, they are on the path of
destruction, and they are taking us with them.


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Kathleen

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So what did the Baker Hostetler report cost I wonder? One-hundred dollars per page, plus expenses? So they spent 200-grand thinking they’d like the findings, that it would be money well spent, and in the end they could tell everyone on the corner – go back into your houses, it’s over, there’s nothing happening here! What I’d like to know is who said “Quick, hide this damn thing”. And they did for nearly eight-years then some nosy reporter gets her hands on it. So when does this nosy reporter receive her IRE for Investigative Reporting and The Edward R. Murrow Award? Soon I hope.
 

 

One hundred per page seems a little on the light side.  Baker & Hostetler probably charges $500 per hour.  At least the two named attorneys worked on the report.

 

Just reading Nye's e-mails probably cost them $10,000 to $50,000.  The Florida MERS cases involved some very long transcripts.

 

The report makes it clear that the law firm also interviewed Fannie Mae personnel.

 

I would guess that the report cost two to five times the figure you suggest.

 

This would be a good question for some Congressperson to ask FHFA at a Congressional oversight hearing.

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angelicaB
Underwater Mortgage is a home purchase loan with a higher balance than the free-market value of the home. This situation prevents the homeowner from selling the home unless s/he has cash to pay the loss out of pocket. Everyone who owns a mortgage that is guaranteed by Freddie Mac or Fannie Mae is basically at a complete loss if they are underwater. Only a select group of individuals are getting their principals lowered under the “robo signing” settlement. Underwater Freddie or Fannie backed mortgage owners left to drown. It is a great problem for the homeowners and Fannie and Freddie are not in a position to do anything about them financially. That accounts for 22.8 percent of mortgaged homes in America.
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