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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I can only interpret this as a defense against a borrower who manages to have an audit made on their loan.  These guys can say our audit is better then yours because we have this here letter from a lawyer and our lawyer is better then your forensic guy.

 

http://biz.yahoo.com/bw/081210/20081210006167.html

    

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I read the various press releases from this company.  I have two takes on what I read.

The first is that the company is just another chain of organizations feeding at the trough of mortgage fraud.  There was such a dearth of failed due diligence the last decade in the origination, sale and securitization of mortgages that trillions of dollars worth of notes are toxic.  The company claims it is a neutral source of information.  On more than one place on their web site they claim to audit loans for homeowners.  I was more inclined to believe from further reading they are a shill to cover the asses of the lenders and large financial institutions.

The second is if this company claims to be a neutral party they WILL have to take on homeowner audits and show that there analyses are neutral and not slanted towards the lender.  If a large proportion of audits don't show what we already know, fraud, over a very short time their audits will become worthless.  Just because a local attorney allows his signature to be used on a cover letter means nothing.  I could shred such an averment in about 5 minutes of questioning the local attorney before the Court.  The audit company is going to run into landmines trying to issue an audit that later fails simple credibility tests.  A few failed audits before the trier-of-fact or failure to get past a Motion in Limine (a motion to exclude the audit as evidence) will be the doom of this audit firm.

Finally, follow the money trail.  The audit company will undoubtedly be subjected to discovery.  I would want to know if the company gets a single DIME of any lender consortiums, etc.

Ken
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There is an even simpler analogy – Sorry, sir, the toaster can’t possible be defective because the Good Housekeeping Seal of Approval is printed right there on the box.

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Interesting comment.  I wonder if this is like U/L or one of the Green labels big corporations have scrambled to put on their products.

Maybe this guy is trying to create a brand label for mortgages.  Something like this:  "Mister/Miss Consumer, THIS line on your disclosure is for the Good Mortgage Seal of Approval from the Dewey, Cheatam and Howe loan audit service.  The $ 1,000.00 went towards a forensic analysis to prove that OUR loan to you meets various standards that we are unwilling or unable to articulate."

If audit firms are headed down this road it makes we want to go to law school just so I can eventually eat from the trough of malpractice and negligence claims.


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Lawyer's don't even take the time to become familiar your legal case FILE/FOLDER, in order to represent you according the legal codes.

They certainly CAN NOT crunch numbers 2 + 2 =

Lawyer's signing forensic accounting audit's is out of their expertise.  They better go get Certified Accounting credentials.

They either have to be a CPA or a LAWYER. 

This organization, is only setting up another fall for mortgagors.

They are setting up another tactic to help the lenders, services, & all named in the first article on this thread, NOT THE HOMEOWNER.

THE HOMEOWNER can't afford a Certified Forensic Audit, so they going to use lawyers to seal their case in favor of the criminals.

My Opinion!

I have worked with many lawyers in Florida and Louisiana, they just can't get organized!

Gene




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    All these academic discussions are interesting, but the bottom line is
DEFLATION, prices are not going up, they're going down! So if you're on
the verge of foreclosure, with no equity in the property, just give it up
and move into a different foreclosure and occupy it by "adverse possession".
    Be sure to study the law in your area on "adverse foreclosure" and
research the title of the property you are interested in. Get the electric
and water turned on in your name and move your id to the new property
so that on "moving day" you have all your "ducks in a row"! If you stay
there for seven years and pay all the property taxes, you can get the
deed to the property! Take care of the property and obey all the rules.
( It pays to set aside some bail money for the unlikely prospect of a
cop arresting you for "trespass"). If this happens, don't resist, just go
politely, bail out, and try to get out as soon as possible so you can prevent
anyone else from "squatting" while you're taking care of business! Panics
and deflation happen, history and law tell us what we need to do to survive!
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