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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Dose anyone in the forum know anything about this or is this just people trying to make money.


http://www.articlealley.com/article_1781560_2.html
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Moose
Smurf wrote:

Dose anyone in the forum know anything about this or is this just people trying to make money.


http://www.articlealley.com/article_1781560_2.html


It's "selling" what amounts to be snake oil - do it yourself using their documents with no guarantee it will work and lots of "get your home back free and clear" claims without a shred of proof.

The silliest one is the 90-day free and clear claim for a package of documents at $1,495.00.

The dead giveaway that it's just another mortgage-elimination scam is in this paragraph:

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6.  The law prescribes specific time frames (max 60 business days) during which your Lender must respond to the affidavit. A lack of response or insufficient response is legally considered no response at all, and allows you to move forward with the remedies of revoking the Promissory Note and re-conveying the Deed of Trust/Mortgage Deed back from the bank into your sole possession. At this time, no Lender has ever provided a legally satisfactory response to the affidavit, as doing so would require them to admit to the instances of violations or fraud in your loan transaction, and may result in an audit of their practices by the regulatory bodies you involved in this process. Preferring not to have to open their books to any regulatory bodies, and knowing that there is a 95%+ likelihood that they committed violations and/or fraud during the issuance of so many of their residential real estate loans, the Lender chooses the lesser of two evils, which is to allow you to exercise your legal remedies. The loss of the value of your home is of little consequence to them.


This BS has been tried for years and usually comes under the guise of something referred to as "affidavit of truth," relying on a completely fallacious theory that no response to the absurd list of questions means the "bank" as acquiesced and no longer has legal standing to enforce the mortgage.

It was one of the key features of the Dorean Group scam and just never completely dies off - because desperate people are willing to give these scam artists money.

As for their lower-cost offerings - there are plenty of free sources of QWR letters on the 'net.

Moose

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I agree with Moose!! If it sounds to good to be.... here is a great QWR that I came across!!

                                                Here's a letter my attorney gave which is what you use to derail mortgage servicers. You send this letter certified to your servicer and then wait. As he told me 90% of the time the servicer will not reply because if they do it will show all the hidden fees, charges and interest they have illegally applied to your account and which get hidden in your payoff amount or simply get overlooked with time.

This letter, if they fail to reply and later try to foreclose on you, creates a defense and countersuit for RESPA violations. You don't go after them for failing to respond...well you could...but its really something you keep in your back pocket for when you need it.

This letter is a “qualified written request” under the Federal Servicer Act, which is a part of the Real Estate Settlement Procedures Act, 12 U.S.C. 2605(e). This request is made on the above referenced account. Specifically, I am requesting the following information:

1. A complete and itemized statement of the loan history from the date of the loan to the date of this letter including, but not limited to, all receipts by way of payment or otherwise and all charges to the loan in whatever form. This history should include the date of each and every debit and credit to any account related to this loan, the nature and purpose of each such debit and credit, and the name and address of the payee of any type of disbursement related to this account.

2. A complete and itemized statement of all advances or charges against this loan for any purpose that are not reflected on the loan history transaction statement provided in answer to question #1.

3. A complete and itemized statement of the escrow account of the loan, if any, from the date of the loan to the date of this letter, including, but not limited to, any receipts or disbursements with respect to real estate property taxes, fire or hazard insurance, flood insurance, mortgage insurance, credit insurance, or any other insurance product.

4. Have you purchased and charged to the account any Vendor’s Single Interest Insurance?

5. A complete and itemized statement from the date of the loan to the date of this letter of any forced-placed insurance and expenses related thereto, related in any way to this loan.

6. A complete and itemized statement from the date of the loan to the date of this letter of any suspense account entries and/or any corporate advance entries related in any way to this loan.

7. A complete and itemized statement from the date of the loan to the date of this letter of any property inspection fees, property preservation fees, broker opinion fees, appraisal fees, bankruptcy monitoring fees, or other similar fees or expenses related in any way to this loan.

8. Identify the provision under the Deed of Trust and/or note that authorizes charging each and every such fee against the loan.

9. Please attach copies of all property inspection reports and appraisals.

10. A complete and itemized statement of any and all post-petition arrears including each month in which the default occurred, and the amount of each monthly default.

11. A complete and itemized statement of any late charges to this loan from the date of this loan to the date of this letter.

12. The amount, if applicable, of any “satisfaction fees.”

13. A complete and itemized statement from the date of the loan to the date of this letter of any fees incurred to modify, extend, or amend the loan or to defer any payment due under the terms of the loan.

14. The current amount needed to pay-off the loan in full.

15. A full and complete comprehensible definitional dictionary of all transaction codes and other similar terms used in the statements requested above.

16. A complete and itemized statement of any funds deposited in any post-petition suspension account(s) or corporate advance account(s), including, but not limited to, the balance in any such account or accounts and the nature, source and date of any and all funds deposited in such account or accounts.

17. A complete and itemized statement from the date of this loan to the date of this letter of the amount, payment date, purpose and recipient of all foreclosure expenses, NSF check charges, legal fees, attorney fees, professional fees and other expenses and costs that have been charged against or assessed to this mortgage.

18. A complete and itemized statement of the amount, payment date, purpose and recipient of all fees for the preparation and filing of the original proof of claim, any amended proofs of claim, or any supplemental proofs of claim related to this mortgage.

19. The full name, address and phone number of the current holder of this debt including the name, address and phone number of any trustee or other fiduciary. This request is being made pursuant to Section 1641(f)(2) of the Truth In Lending Act, which requires the servicer to identify the holder of the debt.

20. The name, address and phone number of any master servicers, servicers, sub-servicers, contingency servicers, back-up servicers or special servicers for the underlying mortgage debt.

21. A copy of any mortgage Pooling and Servicing Agreement and all Disclosure Statements provided to any Investors with respect to any mortgage-backed security trust or other special purpose vehicle related to the said Agreement and any and all Amendments and Supplements thereto.

22. If a copy of the Pooling and Servicing Agreement has been filed with the SEC, provide a copy of SEC Form 8k and the Prospectus Supplement, SEC Form 424b5.

23. The name, address and phone number of any Trustee under any pooling or servicing agreement related to this loan.

24. A copy of the Prospectus offered to investors in the trust.

25. Copies of all servicing, master servicing, sub-servicing, contingency servicing, special servicing, or back-up servicing agreements with respect to this account.

26. All written loss-mitigation rules and work-out procedures related to any defaults regarding this loan and similar loans.

27. The procedural manual used with respect to the servicing or sub-servicing of this loan.

28. A summary of all fixed or standard legal fees approved for any form of legal services rendered in connection with this account.

29. Is this loan subject to any Electronic Tracking Agreement? If the answer is yes, then state the full name and address of the Electronic Agent and the full name and address of the Mortgage Electronic Registration System.

30. Is the servicing of this loan provided pursuant to any type of mortgage electronic registration system? If the answer is yes, then attach a copy of the mortgage electronic registration system procedures manual.

31. A copy of the LSAMS Transaction History Report for the mortgage loan account, with a detailed description of all fee codes.

32. Is this a MERS Designated Mortgage Loan? If the answer is yes, then identify the electronic agent and the type of mortgage electronic system used by the agent.

33. Is this mortgage part of a Mortgage Warehouse Loan? If so, then state the full name and address of the Lender and attach a copy of the Warehouse Loan Agreement.

34. Upon any default or notice of default, state whether or not the Mortgage Warehouse Lender has the right to override any servicers or sub-servicers and provide instructions directly to the Electronic Agent? If the answer is yes, then specifically identify the legal basis for such authority.

35. Is this mortgage part of a Whole Loan Sale Agreement? If the answer is yes, then state the name and address of the Purchaser, the Custodian, the Trustee, the Electronic Agent and any Servicer or Sub-Servicers.

        You should be advised that you must acknowledge receipt of this qualified written request within 20 business days, pursuant to 12 U.S.C. Section 2605(e)(1)(A) and Reg. X Section 3500.21(e)(1).

        You should also be advised that I will seek the recovery of damages, costs, and reasonable legal fees for each failure to comply with the questions and requests herein. I also reserve the right to seek statutory damages for each violation of any part of Section 2605 of Title 12 of the United States Code.
*Also note that mortgage servicers are required to fully answer all these questions within 60 days from the date they receive this letter in addition to acknowledging receipt of your request in the first 20 days. During that time they are forbidden to report late-pays to the bureaus as well.                
                                                                                                                       
                               
                                                       


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Sandy
The Dodd-Frank Act shortened the response time for the lender and increased damages for failure to comply.

http://www.usfn.org/AM/Template.cfm?Section=USFN_E_Update&Template=/CM/HTMLDisplay.cfm&ContentID=16355





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William A. Roper, Jr.
I totally concur with Moose's thoughtful and articulate reply.  I would also add the common sense rule with which to measure almost any such offering:  "If it sounds too good to be true, it probably is."
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ok thank you

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Source: Keller Rohrback L.L.P.

Keller Rohrback L.L.P. Announces Class Action Complaint Filed Against EMC Mortgage Corp. and The Bear Stearns Companies LLC

SEATTLE, Jan. 10, 2011 (GLOBE NEWSWIRE) -- Attorney Advertising. Keller Rohrback L.L.P. (http://www.krclassaction.com) announces that a class action has been filed in the United States District Court for the Eastern District of Washington on behalf of all mortgagors in the State of Washington whose home mortgage loans are serviced by EMC Mortgage Corporation and who (a) have attempted to obtain modifications of their loan terms from EMC; and (b) have made payments pursuant to a "Repayment Agreement," a Home Affordable Modification Program ("HAMP") trial modification plan, or any other temporary modification plan.

The complaint alleges, among other things, that the Defendants: engaged in bad faith as to home mortgage loan modification negotiations; led mortgagors to reasonably believe and rely on Defendants' representations that they would permanently modify their mortgage loans upon successful completion of "Repayment Agreements" or other trial programs; charged unreasonable, unlawful, or excessive fees; failed to properly disclose and/or concealed fees and other charges; failed to provide to mortgagors a proper or comprehensible accounting of fees, payments, credits, arrearages, and amounts owed; improperly or under-applied mortgage payments to accounts; and breached "Repayment Agreements" or other trial modification program contracts or promises. The complaint has been filed pursuant to the Washington Consumer Protection Act and contains additional claims for breach of contract, breach of the duty of good faith and fair dealing, promissory estoppel, and unjust enrichment.

Keller Rohrback is also investigating the following mortgage loan servicers regarding mortgage loan modifications in Washington and elsewhere:

  • American Home Mortgage Servicing, Inc.
  • Aurora Loan Services, LLC
  • Citimortgage, Inc.
  • GMAC Mortgage, Inc.
  • JPMorgan Chase Bank NA
  • Litton Loan Servicing LP
  • Nationstar Mortgage LLC
  • OneWest Bank
  • SunTrust Mortgage, Inc.

If your home mortgage loan is serviced by EMC Mortgage Corporation or any of the above-listed servicers and you have questions regarding these matters, please contact paralegal Nick Wallace or attorneys Gretchen Obrist or Lynn Sarko at 800.776.6044 or via email at info@kellerrohrback.com.

Keller Rohrback, with offices in Seattle, Phoenix, Santa Barbara and New York, is committed to helping individuals protect their investments.  Keller Rohrback has successfully provided class action representation for over a decade.  Its litigators have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

Attorney Advertising.  Prior Results Do Not Guarantee A Similar Outcome.

CONTACT: Keller Rohrback L.L.P.         Nick Wallace, Paralegal         (800) 776-6044         info@kellerrohrback.com         http://www.krclassaction.com



http://www.globenewswire.com/newsroom/news.html?d=210820

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