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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Tom_SRQ

they have found it with a ghoulish scheme gambling on death, by repackaging life insurance policies sold for a fraction of their worth by sick and desperate elderly people. Once people die, the investors make money. And it’s much more profitable if you die sooner rather than later please.

The concept of so-called securitized-viaticals is not new, but what’s different now, is the scope and large-scale bundling of the securitized life settlements into bonds.

 

Wall Street is scooping up the policies from the life settlement companies and repackaging them into securitized bonds, with the seal of approval of a Triple-A rating from a bond-rating agency to attract investors.

 

Sound familiar?

Meet the new boss

Same as the old boss..............

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Tom_SRQ

WOOPS heres the LINK

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Sara
Oh yeah, I have heard of this happening with people who work for companies in the financial industry.  The company takes out a policy and has the employee sign the paperwork.  The catch is that the company is the beneficiary

I guess it was just a matter of time...

S
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    America's life and health insurers: Never have so few, done so little, to profit so much, in the history of world financial swindles.
    Our leaders allow them to "cherry pick" the low risk people while leaving the sick,the old and poor for the taxpayers to insure, ie thru Medicaid and Medicare. This is the real reason the latter programs are going broke.
    Meanwhile, those of us lucky enough to qualify for private insurance, both health wise and financially, never know if we'll be covered if we ever  get
sick or injured. The policies are written in such a way that no two lawyers
can agree on what is covered, and it's done that way on purpose, so they
can deny claims when it suits them.
    The health insurance swindle is every bit as bad as the "subprime" swindel
but it gets very little media attention. This is something all Americans need
to look into so that Mr. Obama can get the job done and provide affordable
health insurance to all Americans. This would certainly lower the foreclosure
rate and free up money to balance the federal budget, in spite of what the
"mug-wump" know nothing Republican liars would like us to believe!
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Janet
I guess I'm one those that has been around the block a few times, but what you describe is an old dance in an old pair of shoes.


It is also done with cars and these types of policies have been imposed on homeowners since lending began.

For a family, that say a father is killed, it provides security becuase the loan is paid off by the insurer.

If your car is totaled in an accident, the lender is assured repayment.

So the only one on the short end of the stick is the insurer.



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    Your defense  of the "poor" old insurance companies and the wonderful
things they've been doing for America all these years, kind of surprises me.
    Up until recently, I considered myself to be a Republican in that I favored
small government, balanced budgets, and low taxes. However, big government is not the only threat to liberty we face, as the Wall Street boondoggle has shown. Big corporations can be just as tyrannical and unjust as big government, even more so because they are accountable to no one, not even the stockholders. Witness the exhorbitant salaries and bonuses they pay their executives and CEOs.
     Our national defense depends upon having a healthy population which
can be called upon for national service in a time of emergency. Right now,
our population is no where near as fit and healthy as it should be. Witness
all the obesity and diabetes Americans suffer from because of an overly rich diet in animal products and too few vegetables and fruits in the diet. Doctors and nurses not only treat people, they educate people in order to prevent disease. Right now we have a shortage of these personnel because for generations, the AMA has been creating a shortage of doctors and nurses to
keep the price of health care high. They also control the health insurance companies which are run purely to maximize profits, not to keep Americans healthy. All this needs to change, and I believe Mr. Obama is the man to get the job done. True Republicans should support his efforts and get out of the way . I've heard enough from the "mugwumps", it's time for the Roosevelt
Progressives to step forward, otherwise we'll have to resurrect the old Federalist Party to speak for us.(Mitt Romney, are you listening?)
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Anonymous
Hebrews 4:13
And there  is not a creation that is not manifest ot a sight, but all things are naked and openly exposed to the eyes of him with whom we have an accounting.

They may think they are not accountable to anyone but the one that they have an accounting to is far more powerful than any man on earth.
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