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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Servicer Reported Fraudulent Performance Data
A hard-money mortgage servicer in California is accused of hiding delinquency from investors and -- in a classic Ponzi scheme -- using new investments to fund interest payments to existing investors. In all, investors are expected to lose more than $100 million.
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