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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In going through all of my 1098 statement since there is only one lender that is not on the list of fraudsters, all of the others are. To make it even more interesting is that when I signed mortgage docs with these people, the docs were only four pages long. I thought that was odd, they stated that the government changed things so consumers could understand the paper work. I accepted that. No truth in lending statement. These refi was to get out of a loan with one of the biggest fraudsters.
My friend keeps bringing up the terms shell company and front organization. Does this mean anything to any of you?
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The Equitable One
No TILD. Hmm. Solid grounds for all kinds of suits.
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9

this paper work is from years ago, but I do think this set the stage for what is happening to me today.

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Philip S.

were the docs signed in 2005? you are correct you probably fell on financial hardship where some broker with a private investor  came in & gave you a loan they defined as a private hard money loan, outrages closing fees no truth in lendeing & then the broker that got you into that loan gets you into another(probably the one ur in now) after only a year of the previous financing , which contained a hidden prepayment penalty.... sound familiar? 

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9

these docs were signed in 1998. I trusted too much. Yes everything does sound very right on.

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9

I did forget to mention that this house was in foreclosure when I purchased it.

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9

I do hope information that has been given by me has shed light on this god awful situation that has been put on our plates. we the people did not ask for any of this and i am in this until it is put to rest.

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The whole main point behind these foreclosures is a money laundering scam through a shell corp type arrangement. Andrew Fastow originated the scam while at Continental Illinois. Crooks like Roland Arnall who mass produced the loans and Larry Litton who used servicers to launder the assets created though the foreclosures worked hand in hand with Wall street investment like Goldman and major comercial banks such as Bank of America.

Here is the basic way the scam works. A loan is written that is intended to fail and it's converted into securities and/or placed in pooling and servicing agreement and the loan backs highly leveraged financial instruments known generally as derrivatives. multiple title claims are created or credit default swaps (like mortgage insurance)
are taken out on the loans. The loans created leveraged assets for Wall street or title claims for insurance policies. The loans are then foreclosed creating even more title claims though trustee relationships and purchasers. the whole point is that the loan can be used as a security or as an insurance backed asset of course to make more money as many title claims are created as possible.

Foreclosing on a property is similar in principle to taking out insurance on your neigbors home and burning it down. creating securities based on mortgages is similar to running as Ponzi scheme and multiplying the assets by gambling the big difference is this system is run through the government banks and insurance companies.

A shell company scam is created for the purpose of off the books assets often with other peoples money. Another use is high level law enforcement/Cia front organizations such as an oil company that doesn't really exist or has a different or additonal function that stated. The basic point is to hide activites and/or create an illusion.


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