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
Over the past year I have been hearing a handful of stories about how some Wall Street firms are mishandling the servicing of loans they purchase in the secondary market. Here's what one executive said the other day in regard to a Wall Street firm: "We would service a loan for 60 days and collect all payments on time. When the Wall Street firm took over servicing, the loan went to hell. We found that they were late setting the loan up for servicing (creating a delinquent event) or they serviced by predictive dialer at the same time of day for 60 days, never having a phone pick up. We would call the alternate customer phone number and get responses and payments immediately"...

source
http://data.nationalmortgagenews.com/columns/hearing/
Quote 0 0
Ohio

Ann Holden wrote:
... or they serviced by predictive dialer at the same time of day for 60 days, never having a phone pick up. We would call the alternate customer phone number and get responses and payments immediately"...


True. Our servicing log shows these auto dialed calls...hundreds of them. 
Quote 0 0
Ann,
 
Hope your doing well... This doesn't surprise me at all...It's more of a mess than just this...The things I could tell people would probably make your heads spin even more...
 
Have a Great Blessed Day!
Quote 0 0
Write a reply...