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
CarringtonMortgageService
   DOW JONES NEWSWIRES  

The state of Ohio has filed a lawsuit alleging Carrington Mortgage Services LLC breached its agreement to offer "reasonable" loan modifications to eligible borrowers.

Carrington spokesman ''Chris Orlando'' called the suit "meritless."

The state and Carrington entered a pact in January 2008 to resolve a dispute arising from the state's New Century Financial Corp. litigation, requiring the company to engage in "good faith" negotiations to help New Century borrowers avoid foreclosure.

Carrington acquired New Century's mortgage-servicing platform in a 2007 bankruptcy auction. New Century had been the second-largest provider of loans to high-risk borrowers, making it one of the earliest casualties when the housing bubble burst.

The complaint, filed by state Attorney General Richard Cordray and the Ohio Department of Commerce, also charges the company violated state law by providing "incompetent, inadequate and inefficient" service in connection with the servicing of Ohio mortgages. The suit seeks consumer restitution, civil penalties and damages as well as a court order requiring Carrington to improve its customer service.

"This lawsuit makes it clear that we have reached zero tolerance for this kind of behavior from loan servicers," Cordray said. "We've tried to work with them, but now we must take action. I am determined to see that mortgage servicers step up, take responsibility and start making it right with Ohioans. No more excuses."

Responding to the suit, Orlando said the company is committed to helping borrowers, having modified loans for about half of its customers.

"We regret that the Ohio Attorney General has declined our offer to continue to work constructively to help homeowners and has instead chosen to pursue meritless litigation against the company," Orlando said.

 

-By Jay Miller, Dow Jones Newswires; 212-416-2355; jay.miller@dowjones.com

Quote 0 0
arkygirl
Chris Orlando...I knew I had heard that name before. Is this same guy and is he a professional spokesperson for all skanky mortgage companies? Or just a professional apologist?

Customers accuse Ameriquest of excessive fees, altered terms

Lawsuits parallel states' allegations of deceptive sales

Ameriquest spokesman Chris Orlando said he could not comment on specific allegations. In an e-mail, he denied the company's fees are too high and said it complies with state laws governing subprime loans.

http://www.boston.com/business/articles/2005/08/03/customers_accuse_ameriquest_of_excessive_fees_altered_terms/

Former Ameriquest Workers Tell of Deception

May 14, 2007

Chris Orlando is the head of corporate communications for the company. He says Ameriquest did not admit wrongdoing.

Mr. CHRIS ORLANDO (Director, Corporate Communications, Ameriquest Mortgage Company): Ameriquest is a much different company today. Where we found mistakes, we've worked hard to fix them. We've made significant changes that protect consumers.

http://www.npr.org/templates/story/story.php?storyId=10165859

Quote 0 0
O -

Roland Arnall's buddy.

Quote 0 0
Digger

Louisiana Mortgage Company President Indicted on Bank Fraud Charges

August 4, 2009 by Bindy  
Filed under Law

William Everett Nichols, of Alexandria, Louisiana, the president and sole shareholder of First Fidelity Mortgage, Inc. was indicted and arrested on federal bank fraud charges in connection with allegedly preparing fraudulent notes by forging the signatures of buyers.

http://blog.preferredconsumer.com/law/louisiana-mortgage-company-president-indicted-on-bank-fraud-charges.html

Quote 0 0
O -

Thats good news, it's about time.

Quote 0 0
Write a reply...