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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Dimon Lil

Let Risk-Taking Financial Institutions Fail

Do not be fooled. The $700 billion (ultimately $1 trillion or more) bailout is not predominantly for mortgages and homeowners. Instead, the bailout is for mortgage-backed securities. In fact, some versions of these instruments are imaginary derivatives. These claims overlap on the same types of mortgages. Many financial institutions wrote claims over the same mortgages, and these are the majority of claims that have "gone bad."

At this point, such claims have no bearing on the mortgage or housing crisis; they have bearing only on the holders of these securities themselves. These are ridiculously risky claims with little value for society. It is as if many financial institutions sold "earthquake insurance" on the same house: when the quake hits, all these claims become close to worthless — but the claims are simply bets disconnected from reality.

Follow the money. Average Joes and Janes are not the holders of the other side of complicated, over-the-counter derivatives contracts. Rather, hedge funds are the main holders. The bailout will involve a transfer of wealth — from the American people to financial institutions engaging in reckless speculation — that will be the greatest in history.

http://www.time.com/time/business/article/0,8599,1845209,00.html

Main Street Turns Against Wall Street

"Washington hath no fury like Middle America scorned"

http://money.cnn.com/2008/09/26/news/economy/easton_backlash.fortune/index.htm
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Your absolutely right, the crisis was caused because the mortgages back highly leveraged  securities. It's a conflict of interest for Paulson of Goldman Sachs to use taxpayer funds to bailout out the leveraged side of the debt that was created using our mortgages as backing in the first place. Bush and McCain are backed by the same lending criminals, so it's conflict of interest for them to be involved in the economic meltdown.

Paulson is from Barrington Illinois the place of my unlawful foreclosure. I went to Private school with several people from Barrington and Barrington hills and my father owns several residences in Barrington. There are many hard working people in Barrington who became successful though hard work and savings I have friend who is a handyman and plows snow and he saved up cash and bought a lot in Barrington Hills for $50,000 in the late fifties or early 60"s so inflation adjusted that would be about a half million and he got good deals on labor and materials from people in the business and now he has a residence that would put many movie stars estates to shame. I have friends who were inventors and suppliers to industry who actually earned their money fair and square, but Barrington is an old Mafia hangout and there still are many crooks there such as my father, and of course Paulson is from there.


I can tell you first hand that these financial crooks from this area think of the underclass as cattle to be used abused and led around by the ring in their nose.

I intend to fully prosecute my own family's involvement in lending and politcal crimes. We can't allow our entire country to go down the drain because we protect our own pet interests. By pet interests, I didn't mean defending our homes and property rights and right to due process because if all the victims had fought tooth and nail then we would not be in this mess. What I meant by pet interests is abusing the system for gain.

Don't let emotions, family loyalty and risk of losing an opulent life style stop you from pursuing these treasonous violent sociopaths to the fullest extent of the law.

We need to make rational and pragmatic choices about country first and think of what kind of world future generations will inherit. The wives, friends, family members and business associates have much information about these financial criminals and they need to come forward now.

The currency act of 1792 clearly states using the treasury for personal gain at the expense of the nation's is a capital offense.

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4 justice now
Greg:

Sounds like a holiday dinner at the Collins household is certainly not the place to be for warm and loving family get together. 

I'm very glad you've had the strength to resist such temptation, too many others simply don't even try.

R,

4J
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Thanks 4J.

I can't stand these kinds of ruthless scum and I've seen what they do to there own families. I had a classmate whose father was an upper-level defense contractor and he told him about how the defense contractors paid off the politicians to use the Vietnam war as a live weapons test, including effects of biological agents including agent orange. He explained to me the Gulf of Tonkin and similar tactics to justify the war. Unfortunately he committed suicide soon after telling others at our private school. I've seen many of these ruthless scum destroy their own families in pursuit of wealth and power.

Many of the kids don't really approve of the parents lifestyle and become blue collar workers or set out to do something to make the world a better place, but some as you say can't resist the temptation. I think multi-generational wealth is great such as family businesses I hope as many families pass on success secrets and work ethics as possible as long as the source of income is lawful and honest.

I have friends I went to school with that almost certainly make some of the products we all use and that's great; they carry on the family tradition and it helps all of us and creates jobs, but I hate the family tradition of using other people's money and labor to get rich with giving little or nothing in return.
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Miss Molly
Barrington - land of where the rich are everything & the rest of you are dirt. The greedy seem to gravitate there, amonst their own. You see the scummy lawyers get off the train from the city & get into their BMW's & drive to their multimillion dollar homes.

There are more banks in Barrington than any other city/town in the county. The local city council meetings are just an extension of the bankers day.

They have a sales tax rate that is over 2% more than any other city. Their gas is always 25 cents a gallon more than any other gas station. Their property taxes are the highest in Northern Illinois.

The only reason why one would want to live there is for "reputation".

They claim the mafia rumor was from decades gone by. But the same names are there.

Their police are corrupt & fire department a political toy. unsafe workplaces just pay the fire inspector off & he doesn't even walk in the door.

Their children are taught that they are far better than anybody else.

It sounds like a perfect place for Paulson to come from.
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Hello Miss Molly

The reason I had a home in North Barrington is because I specialized in high line construction.

You are certainly right about the fire dept and police although I knew several police that actually were decent as I had considered purchasing the 7-11 at on time and was a partner in an ice manufacturing business with the owner of the 7-11 so I got to know the local police.

After Ameriquest initiated the unlawful foreclosure the police began following me around harassing me and falsely arresting me and there were unmarked cars in front of my home a someone sitting in the road in a Ford in N.Barrington is rather conspicuous as you might imagine. On time the fire dept came into my home to investigate an alleged crime they claimed I was holding someone hostage in my basement and that the people had been calling for several hours. Well the fireman told me that the police were on their way and I told them I don't want any police here because I hate them and they are criminals (referring to Lake and McHenry county police). I told the police you may not enter without a search warrant and he said yes he could due to an immediate risk to life when he got in my home he looked up at the 19ft. ceilings and said wow it must cost a lot to to live in a place like this and he was visibly angry and had a smirk on his face.

Many police officers framed me and fabricated false charges against me to prevent me from going after Ameriquest and finally resorted to just plain telling me to get out of Illinois and not to come back.

Yes many people do think they are better than everyone else and the police to not allow minorities and poor people to even drive though the town often falsely arresting or ticketing them and telling them to leave.

Property stealing scams are very common in Barrington with all sorts paternity scams, marriage scams and divorce scams. My friend dated several women who were mistresses or had gotten paternity suits against millionaires, and the scam was so well organized that women from east Europe would travel to the U.S. and meet men at the Aero Squadron in Wheeling/Deerfield and find a way to get married or pregnant and file for divorce or paternity settlement so the sharks feed on their own kind and are fed on as well. Of course the men did their fair share of cheating with younger women which explains the paternity suits to avoid a divorce settlement.

One of my friends girlfriend's had tried to pull a paternity scam both on him and the owner of Duchossis estate company and interest in Arlington park race track or course she was pregnant from someone else.

I'm not sure who the soap opera writers waste there time with scripts when they can just pick up the Barrington newspapers I guess most people would not find what is actually going on there less credible than the fictional soap opera plots.
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Miss Molly
Hi Greg-

Been awhile. I still check in on ya all now & then. I see that you are still fighting them corrupt, presently shut down, Illinois based preditory lenders who sold us into hell. For You it was Ameriquest. For Me, if you remember, it was Superior Bank. 

At least you can say that Roland is dead. I have to put up with the Pritzkers flaunting all over Chicago.

Although I do have to say that I had no problems with Superiors Servicing. They transfered accurate data to the FDIC. 9 months later, when they sold our loans to EMC, the info transfered to EMC was a mess. We were toast from that point on. The FDIC took no responsibility for the time they were in recievership & could not confirm that the numbers transfered to EMC was accurate. It's enough to make your head expode!!

I feel real bad for all those Countrywide loans & IndyMac (& all thse other banks that going under). God only knows how the FDIC will screw them over.

I sent a little note off to the FDIC after EMC settled with the FTC. I said "thanks" for turning us over to the devil & copied the FTC's charges. I'm waiting for the police to come & get me. :-)  My hubby wanted me to include an invoice with the price of the house listed in the balance due area. :-)

What's going to happen with all this bad debt that is getting purchased form these banks? Who is going to service them?  I can see this turning into a nightmare.

Well-- Keep the fight up.  
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The whole point of this bailout is to have the taxpayers buy the bad debt, transfer the criminal and civil liability. As far as the loans and servicers by the way the bill is written it look like it will be a mix of the same as we have now with continuing consolidation to big players and the government requirement serviced and loan rights. If you look though the proposals the focus is on transfering authority to the Treasury secretary and the FED chairman, along with a handful of agencies like HUD.

It seems the root of the problem is ms fraud and related financial fraud has been a free for al for transfering our assets overseas and creating a huge debt which foreign interests hold, along with control of our politicians.

That's where the public has been duped into veiwing the war on terror as a primary threat when actually many of the nations supposed the biggest threat has the biggest influence of our economy and politicians. Actually it's far more likely to have our country taken over by foreign financial interets, that's what  have been trying to tell people for quite some time and it look like this bailout package it desigend to tank our economy and allow the foreign investors to come in and buty up our homes, businesses, land resources, farms and politcal influence for cheap.

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