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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h gosh
You would think the Servicers would come up with a better excuse than "the homeowners aren't sending in their paperwork" so we can't do modifications.  We've already exposed their slight of hand with our checks, proof of insurance, etc.  You would think that by now they would have purchased fax machines that work, or at least figured out that the machine had to be plugged into an electrical outlet!!

Long-term Obama loan modifications prove elusive

Treasury department extends mortgage aid trial period by two months. But loan servicers are having trouble compiling all the needed paperwork.

               
 
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By Tami Luhby, CNNMoney.com senior writer
       
               
       
       
Homeowners in trouble are having mixed results applying for President Obama's foreclosure prevention plan. CNNMoney.com readers tell us their tribulations and triumphs trying to get their loans modified or refinanced

NEW YORK (CNNMoney.com) -- Half a million people are now in trial modifications under the Obama administration's mortgage rescue plan, but getting them permanent help is proving to be difficult.

The foreclosure prevention plan, which reduces eligible borrowers' monthly payments to no more than 31% of their pre-tax income, requires homeowners to make three on-time monthly payments before they can receive a permanent modification.

Loan servicers use the trial period to verify borrowers' income and ascertain whether they can handle the reduced payments.

But servicers say they are having a tough time collecting the necessary documents to determine whether troubled borrowers should receive permanent adjustments.

To read the entire article, go here:  http://money.cnn.com/2009/10/16/news/economy/Obama_modification_program/index.htm?postversion=2009101611

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MSFraud admin
Here is one reason why...

The investor banks are now beginning to discover that what they were told does not match reality.  Trust does not hold the Notes, the Cash, or the Foreclosed Homes!!  They are finally realizing what we have been saying for over 2 years now, that the party foreclosing does not own the note, and now, neither do the Trusts!!


http://www.msfraud.org/LAW/Lounge/DEUTSCHEBANKv.BANKOFAMERICA.pdf 
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