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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Nye Lavalle
http://livinglies.files.wordpress.com/2008/07/pmiocwenreport.pdf
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arkygirl
Very nice
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Great Job Nye!

Looks Good.....While I understand centering this with the parties you have there's so many more guilty of the same things its not funny. I sure wish I had a judge here in St. Louis like they seem to have up East.

But just goes to show I guess JUSTICE isn't for everyone no matter how hard you've tried to do right...

Keep up the great Work!

Kathy

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4 justice now
Nye:

Thank-you! so very much for your outstanding contribution.  

May the criminal organization once known as, "Ocwen Federal Bank", finally receive the very long over due attention it so rightfully deserves. 

R,

4J
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O -

Great Job Nye!

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thank you so much for doing this!  The truth needs to be known & you
are doing that.. I can not believe the lies & am shocked that our government
put these yo-yo's in charge of anything to do with America's veterans. Why
have we never seen any news reports? Why is this allowed to go on?! I know why...because Wall Street Fat Cats are getting much fatter on asset backed securities! What really makes me sick is that people shop around for their lenders....why shop around when that lender will just ship you off to Ocwen...because it's MERS & OCWEN who hold all the cards. Once your lender does that, you can not refinance or restructure your loan...as OCWEN is nothing but a debt collector! AND..the only way to get an english speaking person to talk to at OCWEN, is to get put into foreclosure...then the wait time is 0 minutes and the person on the other end of the line is English speaking.  It makes me sick...my loan originated with Met West, and I had no problems, until Ocwen became in charge of servicing the loan...that is when things got frustrating...  oh well, thumbs up on uncovering the slimy acts of Scott Anderson & a few others at OCWEN.
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h gosh
Excellent, as usual Nye - Thanks!!!
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Nye,

I have a question about assignments:

Is the servicer the only one that can sign an assignment? Can the attorney for the Plaintiff also sign an assignment? Is that legal? Since they are not the servicer. Since the attorney signed the assignment should they also be named on the Corporate Resolution Form?

I have been trying to find these answers for some time now.

Thanks in advance.     cmc
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The Equitable One
cmc,

My unschooled opinion is that only the signature of an agent or representative of the current owner and holder will have any effect. If the signing party has no authority to act on behalf of the current owner and holder then the assignment will have no authority.

As I said, an unschooled opinion.

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Nye Lavalle
Here's the deal!  Accept NOTHING AS TRUE OR FACT!!!  QUESTION EVERYTHING!!!!

ANYONE who signs, question their signature and get a depo and handwriting sample and analysis to determine if they signed it.  Also, see if they have authority to sign and from who?  Then, see if that entity really OWNED or HELD the note!

Examine and question EVERYTHING and NEVER stipulate or accept ANY fact, including default since someone else may have paid them off!
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Cmc,

On my case I believe they'll say that All Fund  did a close for Argent then subsequently to Ameriquest. Notice there's nothing from All Fund pay to the order of or anything to Argent. So I'm assuming they are what they call the table top funder for the lender being Argent.

Before, any servicer received your note the assignment should have been done. Their suppose to do what they call a goodbye letter from the corp selling the debt. Then a Hello letter to whom they've SOLD your debt to.  These all should be separate entities. Then the assignment is done as well.

My knowledge would leave me to believe that only a signatory named on the corp resolution would be signing an assignment. The assignment should of been done prior to being placed with an attorney to commence a 4/clsre action. Otherwise they could knowingly be assigning defaulted debt. Which is done but their hocus pocus probably means something is up.

The only way I could see something like this happening is if like maybe its a debt that was originated then quickly not paid on to where they didn't have time to do anything like this...Which would have to be like a yrs time or less I would believe.

But I'm known to be wrong...
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Nye,

There is a new entry in the Legal Lounge named More Ocwen Anderson Fraud... Is that yours? I tried writing to the admin because the link doesn't work but it hasn't been fixed yet. Does anyone have that?
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Knows About Assignments
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Post by cmc
Is the servicer the only one that can sign an assignment?  Can the attorney for the Plaintiff also sign an assignment?  Is that legal?  Since they are not the servicer.  Since the attorney signed the assignment should they also be named on the Corporate Resolution Form?


First you ask if only the servicer can sign the assignment.  You have this backward.  Usually, the servicer would LACK ANY AUTHORITY to execute an assignment UNLESS the servicer also happened to be the originating Lender.

In a typical mortgage transaction, the borrower executes a promissory note in favor of the Lender (also called the originator), as well as a mortgage or deed of trust in favor of the Lender.

The Lender (mortgage originator) then usually pledges the promissory note to a warehousing bank as collateral for a warehousing line of credit.  To this end, the Lender executes an undated indorsement, usually in blank, on the face of the promissory note and delivers this note to the institutional custodian of the warehousing lender.  The originating lender remains the owner, but the warehousing lender is the holder through its control of the promissory note held on its behalf by the institutional custodian.

Usually thirty to sixty days later, the Lender sells the promissory note to an institutional mortgage investor, sometimes washing the transaction through one or more bankruptcy remote affiliates of the seller and buyer.  This is very often done as part of a bulk transaction.  The promissory notes are then delivered from the institutional custodian of the warehousing lender (which is repaid) to the institutional custodian of the buyer (often both use the SAME custodian and this is an exercise in moving the notes from one vault to another and preparing a new custodial receipt).

The originating Lender also traditionally executed an assignment for each mortgage, suitable for recording at this time.  Use of the intermediate bankruptcy remote subsidiares makes this process more cumbersome as two or three assignments are required for each mortgage instead of one.

The servicer is an agent of the mortgage investor pursuant to a pooling and servicing agreement ("PSA").  As such, the servicer is the agent of the grantee of the assignment, NOT the agent of the grantor.  The exception would be the case when the originating Lender is also the servicer.  But in this case, the authority to execute the assignment derives NOT from the PSA, but rather from the fact that the original mortgage security instrument names the servicer as Lender in the contract.  That is the servicer acts as grantor in this instance, because it is the Lender making the grant in its own name. 

Notwithstanding, it is very common for employees of a servicer to forge an assignment which is executed by employees of a servicer which is NOT named in the original instrument.  In this instance, you have an agent of the grantee executing an instrument which purports to be the act of the grantor.

Think of it this way, cmc.  If YOU, cmc owned Blackacre, could I execute a power of attorney in favor of Nye and then have Nye execute a deed to Blackacre in MY FAVOR?  That is does my POA to Nye give him authority to execute YOUR DEED TO ME where YOU are the grantor and I am the grantee?  The very idea is preposterous!

Such an instrument is void and without any authority whatsoever.  Note that the instrument in this case would be void even IF the person executing WAS an officer of the servicer AND the servicer PROVED its authority to act on behalf of the mortgage investor.  It would be void because the mortgage investor as grantee has no authority to execute instruments on behalf of a grantor.

*  

You ask whether an attorney for a plaintiff can sign an assignment.  This depends upon several questions of fact.  First, is the plaintiff the named Lender in the mortgage or the grantee of the last assignment in the chain.  If NOT, then the plaintiff has NO AUTHORITY to execute the assignment.  The plaintiff is typically the grantee of the assignments being fabricated in support of mortgage foreclosure actions.

Second, is the attorney also either an officer of the grantor or is the attorney named as an attorney in fact under a valid power of attorney executed by the grantor.  MERS assignments are a special case beyond the scope of this discussion.

There is nothing unlawful about an attorney executing an instrument on behalf of another entity IF the attorney is either an authorized officer or holder of a valid power of attorney of the GRANTOR.

Whether a corporate resolution form is required is a matter of state law in the jurisdiction where the grantor is incorporated.  In some places, all officers must be appointed by corporate resolution.  In other places, some minor officers may be appointed by a senior officer or executive committee.  But even in such cases, there would need to be some record memorializing such appointment.  Similarly, the authority of the minor officers to sign and bind the corporation is often a matter of internal corporate governance guided by the state law of the jurisdiciton where incorporated or where headquartered.

Bear in mind that even when someone executes without proper authority, that the acts of the person lacking authority can be ratified by the corporation.

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Posted by The Equitable One
My unschooled opinion is that only the signature of an agent or representative of the current owner and holder will have any effect.  If the signing party has no authority to act on behalf of the current owner and holder then the assignment will have no authority.


This is not exactly correct.  But you are very much on the right track.

Under the common law the mortgage, deed of trust, lien or other mortgage security instrument follows the promissory note.  Accordingly, no assignment of the promissory note was actually necessary!

There ARE some jurisdictions, such as Ohio, that REQUIRE the recording of a mortgage assignment as a condition precedent to filing suit in a mortgage foreclosure action.  In these jurisdicitons, an assignment IS necessary because of the act of the legislature requiring the recording of the assignment.

If an assignment is NOT actually necessary, this begs the question as to WHY the servicers are busy forging mortgage assignments.  The answer is actually quite simple.

Ownership of the promissory note requires indorsement and delivery of the promissory note.  The servicer typically lacks any evidence of delivery of the promissory note.  The indorsement is also UNDATED.  So it does NOT serve as any conclusive proof as to the DATE of either the indorsement or the delivery.

The forged assignment is fabricated solely for use as false proof in the foreclosure action.  The REAL assignments are in the archives of the mortgage trust.

The servicers have become so brazen about these forgeries that they have completely FORGOTTEN that they are supposed to be forging assignments on behalf of the grantor rather than the grantee.  So they often get this confused.

While I believe that you ARE technically correct that an owner or holder of the promissory note has the authority to execute an assignment concurrent with that owner or holder's sale of the note (by indorsement and delivery), the fact of the matter is that title examiners and title insurance companies are concerned about chain of title.

Chain of title in terms of deeds involves proof of valid grants, in proper sequence between grantors and grantees back to the sovereign grant of the land to the original owner.  In terms of mortgages, chain of title would be a series of assignments that show that the final grantee has the authority to foreclose, assign, or release the mortgage.  A release by the last holder absent assignment would give the appearance within the deed records of lacking in authority.  A foreclosure by an entity which could not prove ownership of the promissory note and the mortgage would be problematic.

It should be noted then that a properly indorsed and delivered promissory note should usually carry with it the mortgage no matter how defective the assignment.  But breaks in the chain of title will create a cloud on the title of the property and will make title insurers nervous. 

Note that the indorsement and delivery of the promissory notes is happening out of public view.  The title insurer is giving the buyer and mortgage companyfor the buyer assurance as to the validity of title.  If it insures a title in reliance solely on assertions about ownership of the promissory note, it might have to later pay a claim if the real owner of the mortgage appeared!  The title companyneed to see a continuous chain of ownership of the mortgage through assignments.  This is another reason for the forgeries.

MERS poses a special problem due to the bi-furcation of the note and the mortgage, IF this is even LEGAL.

An assignment is executed by a grantor to a grantee and grants the rights to the mortgage.  The person executing the grant must be an individual with the authority to act on behalf of the grantor.  Again, this can be an officer or an attorney in fact.

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Posted by Nye Lavalle
Here's the deal!  Accept NOTHING AS TRUE OR FACT!!!  QUESTION EVERYTHING!!!!

ANYONE who signs, question their signature and get a depo and handwriting sample and analysis to determine if they signed it.  Also, see if they have authority to sign and from who?  Then, see if that entity really OWNED or HELD the note!

Examine and question EVERYTHING and NEVER stipulate or accept ANY fact, including default since someone else may have paid them off!

 
Nye, Well Said! 

Take Nye's suggestion and apply it using the principals I outline above.

First, ask whether the individual has the authority to act on behalf of the entity for whom the individual purports to act.  Then ask whether that entity has the authority to act on behalf of the grantor.

Sometimes the person signing is several times removed from the grantor, as in instances where an employee of Fidelity purports to be acting under a power of attorney from teh servicer, which servicer purports to act on behalf of the mortgage investor.  But when you look at the instrument, it is a grant from another unrelated entity into the mortgage investor.

In that case, even IF Fidelity had a POA and DEMONSTRATED IT IN THE RECORD, AND IF the servicer has authority pursuant to the PSA, the grant would still be void as the mortgage investor lacks ANY authority as grantee to act on behalf of the grantor!

Using The Equitable One's logic, the mortgage investor, as owner of the promissory note, could validly assign the mortgage to itself.  NO!

Follow Nye's suggestion. QUESTION EVERYTHING. Examine and THINK ABOUT what is being purported.  You will very often find obfuscation and circular fallacy in the forgeries.

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Posted by topguncrdtadvsr
Before, any servicer received your note the assignment should have been done.  Their suppose to do what they call a goodbye letter from the corp selling the debt.  Then a Hello letter to whom they've SOLD your debt to.  These all should be separate entities.  Then the assignment is done as well.


The servicer almost NEVER receives the promissory note.  It is sent overnight to an institutional custodian the day the mortgage closes or the following business day at the very latest.  The servicer has nothing whatsoever to do with the custodyof the note and is totally divorced from this.

Hello / Goodbye letters pertain to sales of servicing rights, NOT to the sale of the mortgage indebtedness.  The servicer currently has no legal obligation to advise the borrower of the sale of the mortgage indebtedness.  

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Knows About Assignments,

Whoever you are. I just want to thank you for making this so much clearer. And because of this I now know for sure that there have been forgery, lies, etc.... in my foreclosure case. It is still on going as of today. A motion to dismiss was filed due to lack of standing.

Again, "THANK YOU"
cmc
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Cmc,
 
You are allowed to be notified of whose servicing your debt. And to know who who owns your debt. Each and everytime a new servicer comes into the picture they should let you know. Each time your DEBT IS SOLD to a NEW OWNER you should be TOLD.
 
IF not there's issues...Knows about check out the Pa Case of Richard Pandolfi if you think I'm wrong.  U could actually also check out my own case now. With examining more articles the Massey Energy Case intrigues me more.
 
Because, now even though they've had two recusals its getting kicked back to court to settle up. They found this even though the judge wouldn't recuse initially...
 
The U.S. Supreme Court ruled West Virginia Supreme Court Justice Brent Benjamin, and judges in similar positions, should have recused himself from the Caperton case, because of a conflict of interest.

Which is the same thing my case was ruled as with Judge Jackson and Shaw here in St.  Louis (conflict of interest). Having found so much Fraud with these judges I'm amazed their able to be on the bench still. It all seems to be a luck of the draw dependent on who you get to answer. By the 2nd/3rd judge recusing in my case it helped. Because, the next judge is as dishonest as Schermer and has plenty of complaints like Shermer to possibly help their ousting.

If a judge can't be fair and impartial please make sure you help get them off the bench. Their actions reflect upon anyone going into that court room who may not have the knowledge we have. It is our duty to help protect them. Especially if we have a way to help them.

 Please we're not attys but we know more than some of them. Some of us know how bad their lying to people every day going to court. Its not funny.  This is just wrong for the oaths and bonds their suppose to uphold. Then the lack of honesty much less a fiduciary responibility is gone with the wind as well. They really seem to be getting by with A LOT...I wish I didn't know what I know anymore. But if anything my profession helped me more than it has most.
 
That's why there's a different profesisonal for different things...The scam artists, liars and thieves need to be gone to never harm one again...But this goes all the way to the top if you ask me...Then again maybe my recusal has as well who knows?


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I don't have a problem with who the servicer is. Litton has been since day one. The original lender has filed bankruptcy 9 months later after my closing. I know that the original lender had problems with the Wall Street Giant who funded them. That was the reason for the bankruptcy.

Now I am facing a situation as to who owns the note. I know that the Plaintiff in my case "DOES NOT". So now I want them to prove it. There is so much more that I can't put up here at this time.

Please don't anyone get me wrong... I don't want my home for nothing. I tried to negotiate with them for many,many months before the foreclosure. So my past has led me to this future. I will fight and fight.

cmc
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