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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Sara

Oh doesn't this story just give you a "feel good" creepy pit in your stomach!  Now our lovely servicers and bankers have another reason to justify foreclosures.  They are licking their chops on this lucrative idea...yum, yum, yum...



 

FEMA May Use Foreclosed Homes As Shelters

Agency Explores Placing Storm Victims In Bank-Owned Houses If Other Options Are Full

  • Play CBS Video Video Hurricane Season Blows In

    As residents of Galveston, Texas recall last year's storm devastation, FEMA is warning coastal areas to be prepared for the incoming hurricane season. Dave Price reports.

    • FEMA would likely contact banks, other mortgage holders and their representatives to compile a list of available homes when a weather disaster strikes. Photo

      FEMA would likely contact banks, other mortgage holders and their representatives to compile a list of available homes when a weather disaster strikes.  (Getty Images/Joe Raedle)

    • Blog Primary Source

      Armen Keteyian and his investigative team keep you informed daily on their blog.

    (AP)  The federal government is exploring how to put Florida hurricane evacuees in foreclosed homes if a Katrina-like storm devastates the region and shelters, hotels and other housing options are full.

    Officials told The Associated Press on Tuesday that it is an effort to find some benefit in the foreclosure crisis and keep people close to their homes and communities instead of scattering them around the country, which happened when Hurricane Katrina devastated New Orleans and other parts of coastal Louisiana and Mississippi almost four years ago. Thousands of victims who lost their homes in the storm moved to Houston, Atlanta and other cities, and many never returned.

    New Orleans has been slow to recover, partly because of the lost population.

    "When you have a diaspora that leaves the state it's very hard to get those guys back. You really want to prevent them from leaving the state," said Jeff Bryant, the Federal Emergency Management Agency's federal coordinating officer for Florida. "We want to keep them in their same local community."

    The idea is still being developed, but FEMA would likely contact banks, other mortgage holders and their representatives to compile a list of available homes. The evacuees would then be assigned homes close to their own and FEMA would use a contractor, acting as its agent, to pay rent directly to whoever owns the home, said Jon Arno, FEMA's individual assistance branch director for Florida. His duties include finding temporary housing for disaster victims.

    If the idea works in Florida, it could serve as a model nationally.

    In April, there were 278,287 homes in some stage of foreclosure in Florida, according to RealtyTrac.

    Images of Katrina refugees, from the lines to get on buses at New Orleans' Superdome to the numerous cots at Houston's Astrodome, are seared into memory. When the evacuees made their way out of the Gulf Coast region, many boarded buses and planes without knowing their destination. Many of them were separated from immediate family with no way of finding them.

    Bryant said the plan will probably only be implemented in a "large catastrophic event," anywhere the housing situation was devastated and only as a last resort.

    "But a large disaster, everything has to be on the table, including foreclosed homes," said Ruben Almaguer, the new interim director of the state's Division of Emergency Management.

    Angelo Edwards, a Katrina victim who just returned to New Orleans from Houston three months ago, likes the idea.

    "It provides income to the bank, the person who holds the deed ... It's taking some of that inventory out of the market," he said. "With this program they could keep that family unit together."

    Edwards said he would have rather stayed closer to New Orleans when he evacuated.

    "Families dispersed across country and couldn't get back," he said.

    Quote 0 0
    I can see the headlines now:

    New Orleans - Saturday June 13, 2009 - The law firm of Humpem, Dumpem and Screwem announced today a strategic alliance with the Federal Emergency Management Agency, Bank of America, HOMEQ Services, Litton Loan and other loan servicers to accelerate the rate of foreclosures as a prelude to the upcoming hurricane season.

    "We gotta get them chiseling homeowners out of the homes real quick", said Humpem partner Johnny Wadd Esq.  "There are ten of thousands of potentially needy storm victims just waiting for a free home who may have that need for months, if not years or even a decade".

    FEMA announced they would place limits on the amount of reimbursement allowed for rental of foreclosed homes.  "The government will be well protected", according to Mr. Ima Dork.  "We don't want the taxpayers to be taken advantage of - no one will make more than they deserve".  FEMA Inspector General Ms. Tanya Holder-Madoff-Wilson-Theobold insured that the Constitution would be waved by President Obama to insure rapid emptying of homes.

    In a seperate announcement the Tampa Bay homeless shelter put out a calls for donations expecting a crush of families displaced by foreclosures.
    Quote 0 0
    Excellent anology Ken, with your usual flair

    Sad thing is it wouldn't be all that surprising at this point. I'm surprised there aren't more earthquakes with the 230+ years of our forefathers rolling over in their graves.

    This country is truely in a sad state of affairs...
    Quote 0 0
    Oh Ken, I couldn't help but laugh at your amusing tale of the FEMA nightmare to come!

     Sara


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    Headline - Washington DC January 29, 2013

    President Sarah Palin announced today the appointment of a Special Presecutor to look into the FEMA scandal that erupted out of the 2009 hurricane season and the $ 49 billion dollar fraudulent payments to loan servicers.

    "FEMA really messed up this time", said Palin Chief of Staff Jeb Bush.  "FEMA decided they could simply write checks, steal homes, squander taxpayer cash on former President Obama's watch".

    Palin told Congress today that she wanted to see former President Obama indicted for his complicity in the Foreclosure Hurricane fraud.  Unfortunately Obama resigned five days before Palin was to be sworn in.  President Biden immediately pardoned Mr. Obama as well as the entire FEMA organization and every servicer that took cash from FEMA.

    President Palin promises that 'something will be done I just don't know what".

    In a seperate news release the Tampa Bay Homeless Shelter announced that the last of the dead have been cremated from the cholera epidemic that swept through the tens of thousands of homeless families FEMA kicked from their homes.

    In financial news ACORN and its construction division announce record profits from the remodeling and sale of foreclosed homes.  ACORN, traded on the Zambian exchange is up 3 dollars on trading of 5 million shares at the close.

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    The Equitable One
    Ken,

    I realize your "predictions" aren't intended to be taken seriously (and I do appreciate your humor), but I feel compelled to point out that many to most of the events and circumstances of today were predicted by folks in the past and they were blown off and laughed at.

    The unlikely, the improbably, and even what we may consider as impossible, can and do come to pass sometimes.

    I'm hoping your "story" doesn't become one of those.

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    Sara
    Well, it's wonderful that FEMA wants to provide homes for disaster victims.

    What about the victims who are losing these homes right now?  Doesn't anyone care about what is happening to these families who are being put out on the streets?  I mean, there are people who are raising their children under bridges and in the drainage pipes under Las Vegas.  Aren't these people considered victims too?

    And why keep handing the financial institutions more money when they are giving perks to those who had poor performance records!

    Sara
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