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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Can someone answer a question? Truth in lending the mortgage broker sent us was for 30 year fixed. Sent it back, at closing adjustable. Is there any way we can sue under predatory lending?

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This is a predatory lending question and this is a mortgage service fraud forum. Mortgae service fraud is were payents that have been made on time are posted as late or not accepted or the servicer otherwise makes it difficult to pay the mortgage and engages in prctices such as bogus fees and added high cost forced placed insurance.

Sounds like switch and bait which can be illegal but is hard to prove.

Send me an E-mail and I'll try to answer the question off the forum.

I would do an internet search on predatory lending and try to get consumer attorney with a record of winning predatory lending cases and contact your attorney general and regulatory agencies.

Predatory lending has much to do with the sub-prime crises so you have a wondow of opportunity where this is a major concern to many people right now the medai and legislation espaeciually with the Presidential primaries comming up.


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If closing took place within the last three days you've got the mandatory right of rescission. I believe (someone correct me) that TILA also provides for a three year right of rescission dependent upon certain criteria.
 
Definitely start studying, but do it quietly and don't let any more personal info loose on the web than necessary - especially on this board as it is monitored frequently by the industry.

 

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Nye Lavalle
Rescission can also be argued as a defense to foreclosure or in bankruptcy after 3 years and used for recoupment
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New regulations require, if the loan terms change prior to closing from initial RESPAS that do not favor you, you must sign new ones and can not close for 3 days.

Did you sign new RESPAS 3 days prior to close?

If you did not he probably forged them.  Call him first and complain, then call the lender direct.

If it has not been 3 days also send a rescission notice, but I am sure you can get out of it if it has been less than 30 days too.

If you did not sign new respas for an ARM prior to closing I would say their is an 80% chance he committed fraud
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