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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Implode-O-Meter staff

Scam Alert: Loan Servicer Takeovers

In this environment of mortgage finance turbulence, consumer advocates warn of the reappearance of an old scam whereby a third party comes along and claims to be the new servicer of your mortgage loan. They then begin collecting your mortgage payments (as many as possible until discovered).

This is an insidious scam because many people's mortgages will indeed change servicers, and on the surface they all look similar.

Here's how to fight it: By law, when your loan is sold, both the current lender and the new lender must notify you in writing. If you get the notice, call your current lender (using a number on your mortgage coupon or older paperwork—don't trust the number on the new letter) and ask if your loan was sold. If you just send the payment without checking, you may quickly be out of a large sum of money.

Stay safe and stay solvent!

—The Mortgage Lender Implode-O-Meter staff


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It's nice to see they added this forum to >The Mortgage Lender Implode-O-Meter web site. TY
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Judge Franklin R. Taft

The Mortgage Lender Implode-O-Meter News Pick-ups: Judge Franklin R. Taft Denies Ml-Implode Motion To Strike via Anti-SLAPP

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American Home Will Close as Loan Demand Collapses (Update1)
Bloomberg - 15 hours ago
``The next announcement will be the liquidation of the company's assets or some type of sale of the origination and servicing platform,'' Miller wrote in a note to investors. ``We do not believe the common shareholders will have any recovery.

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Thanks for thinking of us over here Aaron.

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