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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Subprime Brokers Back as Dubious Loan Fixers?
  New York Times ~ Published: July 19, 2009
 
One gem from this lengthy piece:
 
Chris Mozilo, nephew of Angelo R. Mozilo, the former chief executive of Countrywide Financial — a name synonymous with the subprime disaster — recently started a new business, eModifyMyLoan. It sells software that homeowners can use to apply for loan modifications.

Chris Mozilo worked at Countrywide for 16 years. “I’m very proud of my career in mortgage lending,” he said. “We helped millions of people achieve the goal of homeownership.”


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Stephen

Read Brokeroutpost.com.  Many brokers have switched to the "Loan Mod" business.  They're even teaching courses in it.  It's nothing more than refinancing.

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