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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arkygirl
This is "sort of off topic". I believe that this scenario has played out in more companies than just Countrywide and I anxiously await the out of work whistle blowers to come forward and spill it.

Ex- Countrywide Employee Reveals a Secret Ingredient in Mr. Mozilo's Original Toxic Loan Recipe

It does not take a scientist to figure out that there is something very fishy going on with the lending giant of the sea and the smell is starting to stench up my blog. BIG TIME!

I am hearing it from all sides of the toxic loan spectrum. The struggling borrower that is losing their home as a result of an exploding adjustable rate mortgage with Countrywide and then from the homeowners looking for a no costs refinance and the BS answer they come back with when they ask for a simple good faith estimate.

The most disturbing stories I hear are from the insiders. The ex-Countrywide employees that give us a behind the scenes look of what really was going on behind closed doors. Ex-managers and ex-loan officers who want America to know what Mr. Mozillo was cooking in his top secret kitchen. 

These are the accurate portrayals of the sneaky secrets and down right dirty business practices that helped propel CW to be the #1 lender in the country. I am just sharing these secrets with the American people because they need to be heard. 

So, please do not shoot the messenger Mr. Mozilo.

Take for instance this story that was sent to me over the weekend. I suspect this must have went on quite a bit.

You can read the rest here, but it is not for the weak-stomached or weak of heart.
http://loanworkout.org/2007/11/12/ex-countyriwde-employee-reveals-a-secret-ingredient-in-mr-mozillos-original-toxic-loan-recipe.aspx


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