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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Something else for Ameriquest victims to worry about....

Sensitive Personal Info In The Trash

DeKalb police have found boxes of sensitive information from a mortgage company carelessly tossed in the trash.

The mortgage company - Ameriquest -- may ring a bell. It closed up shop in Georgia nearly two years ago amid allegations of predatory lending.

So why, now, are hundreds of customers' personal files showing up in a very public place? It is the last place one would expect to find hundreds of confidential mortgage files -- in a dumpster behind a DeKalb County apartment complex.

"They basically contain mortgage applications from Ameriquest customers," said DeKalb Deputy Police Chief Mike Burrows.

Boxes and boxes of tax returns, credit histories and social security numbers. Strange, considering Ameriquest stopped doing business in Georgia nearly two years ago amid allegations of predatory lending.

"We're just trying to find who put them there, why, and have any of the files have been compromised," Burrows said.

"I'm furious, I'm angry, I'm hurt," said former Ameriquest customer Tonya Brown. Brown is part of a class action suit, and she said that this only adds insult to injury.

"Who could be that irresponsible? Who? And I really hope that person; I want to ask how could you be that irresponsible," she said.

DeKalb County investigators still have a number of boxes to go through, but they estimate they've got sensitive information on at least 1,200 people. Brown said she is praying she is not one of them.

"Just the thought of having your information out there is frightening. It's scary," Brown said.

Under federal privacy laws, companies are required to protect the personal information of their clients, both past and present. According to police, there is a local law firm handling this particular case for Ameriquest.

No one returned calls from 11Alive News on Thursday.
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Where do you get them tinfoil hats from? /\
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Arnalls living trust

SEC Info - Roland & Dawn Arnall Living Trust - SC 13G - Education Lending Group Inc - On 4/22/03

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Me2, I don't think we need those hats anymore.

When we all began "connecting the dots" and advancing the theory that all these entities were connected...lenders with servicers, servicers with other servicers, speculation that servicers were abusing borrower information, Wall Street involvement up to the eyeballs and Fed involvement up to the armpits, many people came here and called us "crazy conspiracy theorists" and claimed that "the laws" would prevent any of this from happening.

"The laws" did not work and fraud is, and was, rampant in the industry. Investigations are taking place in Congress, the SEC and the IRS are looking at some of these companies and the fraud is unwinding faster than the spring in a cheap Chinese watch.

I threw my hat away a few days ago. But what in the world has "someone" been doing with those files for TWO years? Can't the thieving Ameriquest jackasses afford a shredder?

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Awwww Arkygirl, that is a great question!

Why would they shred something of VALUE to them?

Perhaps the information is still making them big bucks on someone's bogus books?

Just a thought...

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The info will probably show up as write-offs for Ocwen, Litton, Countrywide and others. Or show up as profitable loans, depending on the current need for these companies.

I would wager a nickel that the info was "shared" with someone. Shoot, I'll raise it to a dime. But it was still pretty stupid not to shred it when they were done with it.....if they had done that no one would be the wiser. Now it is actionable and credit reports will be locked down. I never thought the crooked ones were very smart; it is just that the government is very, very stupid.

Look how long some of us have been discussing this, all the ins and outs, including how they were doing the scam. Now we have all these "educated" regulators acting like someone just threw a firecracker under their butts running around screaming "the sky is falling". Morons!

Wonder how Bubba Arnall is faring in the Netherlands.

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I hope he has nightmares and can't sleep a wink for the rest of his life... There are a lot of people that he and his company have hurt.
 Ornage jump suit would be nice to see.
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Ooop's My fingers don't spell as good as my brain does, Orange
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