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
WHY is the government so insistent on remaining in bed with Ocwen?

The GAO report from the VA debacle - http://gao.gov/products/GAO-08-60 - has shown that Ocwen performed poorly and committed fraud by billing the VA for property maintenance that was never done. Yet there were no fines or restitution for Ocwen in this case. "VA's contract with Ocwen also does not include sufficient authority for the department to impose penalties for unsatisfactory performance in key areas, such as property maintenance."

Yet it is right back into the sack with the scum....Ocwen never learns and evidently the government doesn't either. How can we ever make headway when we are ruled by retards who don't learn from their past mistakes?

Ocwen to Service $4.4bn of Non-Performing Mortgages

By DIANA GOLOBAY
August 14, 2009 8:08 AM CST

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The servicing arm of Ocwen Financial Corp. (OCN: 9.4504 +0.00%) this week snatched up a servicing agreement on 24,000 non-performing mortgage loans owned by mortgage giant Freddie Mac (FRE: 1.41 -2.76%).

The interim servicing master agreement between the Ocwen Loan Servicing and Freddie, which took effect August 10, relates to single-family mortgage loans bearing an aggregate unpaid principal balance of $4.4bn, according to a company filing with the Securities and Exchange Commission (SEC) early this week. The outstanding principal balance split among 24,000 mortgages works out to an average $183,300 per loan.

Ocwen Financial made headlines elsewhere this week as it raised private capital through a public stock offering. It priced a public offering of 28m shares of common stock at $9 per share. Ocwen said it expects $239.4m in net proceeds, which it plans to use for general corporate expenses, including acquisitions and working capital.

Write to Diana Golobay.

http://www.housingwire.com/2009/08/14/ocwen-to-service-44bn-of-non-performing-mortgages/

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Gov't knows 'selective memory' can be extremely useful at times,        for example:

http://files.ots.treas.gov/93606.pdf

 

Supervisory Agreement between Ocwen & OTS - April 2004

 


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arkygirl
Well, let's not forget this golden oldie.

In 1999 the FDIC attempted to audit Ocwen....I think they gave up in sheer frustration!

http://www.fdic.gov/oig/a-rep99/99-010.pdf


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Inside CIA
Ocwen is a CIA black op
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4 Justice Now
Inside CIA:

It's been a long time since your first post on this subject. I'm really glad to see you are still with us.

I have read much more than I ever really wanted to about the fraud called Ocwen, and I am completely amazed at their longevity, among other things.

Many have criticized the CIA connection theory/belief. But there are few other real explanations other than the fact that: our government for more than twenty years has hired and retained employees in very high, complex, key positions of finance & law enforcement whom are extremely and profoundly mentally retarded.  

If they were simply corrupt and thieving employees they would have already amassed millions of dollars and likely would have retired long before now in some South American country.

Anyone else have an opinion on this one?


IMHO,


R,

4J
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They are not retarded 4J. We are the retards strapped in the little yellow bus with our sense of rights, freedom, the pursuit of happiness, and equality, while they drive the bus over every cliff they can find.

And every time we crash, they reach back and say wasn't that fun? We need money for repairs. And we give it to them so they can take us over the next cliff.

One of these days we should fake taking the little pills and wake up to the reality.
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UGH
Freddie sucks, but Ocwen swallows
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What About PennyMac?

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   Most likely Ocwen bought the loans for pennies on the dollar. If they make even a dime on the dollar, they'll be doing well. Many investors will get rich
buying these "don't wanters" on the Court House steps, so this is a chance
for the victims to get even. The laws of Kharma are still in force, one only needs to be a little patient and stay alert for the bargains. When you're down, there's only one way to go, and that's up. We need to be in the game to win it. Of course, like poker, we need a few chips to stay in the game until the cards turn in our favor. Good luck all you victims of MSF!
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