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
srsd
Has anyone checked on how the title companies will be involved in the lawsuits that are happening?
In my case, my minor son`s name is on our property and we didn`t know it ourselves until we tried to sell our house and payoff the mortgage.  It looks like a title copmpany would have found something like that. It was on the second line when we went to check and make sure.
The only way we found out is when we went to close on the sell and the lawyer stopped everything.
Quote 0 0
Stephen

Title companies are part of the conspiracy.  They're selected by the broker whose commission depends on the loan going through.

Quote 0 0
Steven,

I've only been a Realtor in states that use lawyers to represent buyers and sellers at closings.  In this instance, it's the buyer's lawyer who selects title company and generally it is one they have worked with frequently.  Many lawyers do their own title searches or farm out to local title searchers.  In the course of my work I do a lot of land records research and I always see local attorneys running title searches when I am there.  They send their reports out to title insurance companies if a policy is needed. 

I do know that in some states Realtors do the whole process from purchase and sale agreement through closing.  Personally I see that as one huge conflict of interest. 

Over the past several years I have spoken to many Realtors on MSF, most recently giving tutorial to my current firm.  I have to tell you, in ALL cases the Realtors I spoke to were like......Wha?  Huh?  and had no clue about MSF.  Bear in mind, this is a sampling from just one small area of the country.

It disgusts me that NAR with its huge DC lobby has not taken a strong stand on MSF.  NAR has spent the past several years fighting to keep the banks out of the real estate business, but guess what NAR?  The banks are coming in through your back door!
Quote 0 0
Moose
What everyone seems to not see is that from the real estate industy's standpoint, every foreclosure is another potential sale.

The incestuous relationships between servicers and their cadre of real estate agents to move certain properties won't be uncovered.

Moose


Quote 0 0
Moose,

Most servicer websites recruit Brokers for sales and BPO's, also contractors for repair work.  It's very blatant. At EMC website you can click on OTHER BUSINESS PARTNERS to see how it works. 

The general thinking I've heard among Realtors is that if they sign up to do  BPO's, that will lead to REO listing$.  I don't see it so much as an incestuous relationship but more like members of my profession who have no moral compass and conveniently blind to the ultimate impact of their deed$ upon homeowner victims.  
Quote 0 0
What's Up Doc?

you might want to ask the title co, for a full copy of your closing doc's.

Quote 0 0
srsd

Are they part of the lawsuits going on or are they totally seperate?

Quote 0 0

Did someone say "exposure"? Try checking out the BPO/REO/Foreclosure section at Agents Online for awhile. Just make sure you have either a strong stomach or a bucket nearby...

Quote 0 0

THE TITLE CO AMERIQUEST USED IN MY CLOSING IS IN OUR LAWSUIT.

Quote 0 0

The name of the title company that did the closing on my mortgage was, ''Mortgage Information Services'' or MIS.

They/MIS did a few mortgages in my small town, and some of the same people that worked for ameriquest in the Jacksonville Florida office are on on deeds in my area.

The Brokers names were Richard Dunn and Maria Kennedy, The Branch manager name was, Mr. Anderson. I think he worked for Greenpoint before he worked for ameriquest. I bet he is involved in the Bait & Switch!

The title company is under RESPA rules the same as the Mortgage company.






 

Quote 0 0
Write a reply...