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.
Articles |The FORUM |Law Library |Videos | Fraudsters & Co. |File Complaints |How they STEAL |Search MSFraud |Contact Us
Way To Go
NATIONAL MORTGAGE NEWS - August 2, 2007

Moody's Downgrades Litton Servicer Ratings

Moody's Investors Service has downgraded the servicer ratings of Litton Loan Servicing LP from SQ1 to SQ2 as a primary servicer of subprime residential mortgage loans and of second-lien residential mortgage loans, and as a special servicer. Moody's also downgraded Litton's rating as a primary servicer of manufactured housing loans from SQ2-minus to SQ3, and placed its servicer-quality ratings on review for possible downgrade. The actions were based on the announcement that Litton's parent, Credit-Based Asset Servicing and Securitization LLC, is experiencing liquidity problems due to an "unprecedented amount of margin calls" from its lenders, the rating agency said. Moody's reduced the company's servicing stability from above average to below average. (For the MH rating, the servicing stability rating was reduced from average to below average.) Moody's rates servicers on a scale of SQ1 (strong) to SQ5 (weak).

Quote 0 0
CHASIN MYTAIL
Margin calls from lenders...
Pfffff.....
The lenders OWN the sevicers anyway, sheesh.
Quote 0 0
My favorite company to hate, the terrorists Larry Sr and Jr, finally be seen in a new light! Im sure they don't like it, They may have a new building or us victims may end up owning the building! Investigations, litigation, margin calls, stock falling, former employee's testifying against them, what else can go wrong for them?
 
Remember they are "Terrorists" don't feel a bit sorry for them, take everything they own through litigation!  That is the only way to make the thousands of victims whole!
Quote 0 0
Write a reply...