Foreclosure Daily Update ⋅ March 25, 2022

 
   

February Foreclosure Starts Dip Following January Spike – DSNews

DS News

Black Knight has released its “first look” at the February 2022 mortgage data finding that the national delinquency rate nearly returned to …

     
 

Black Knight: February Uptick in Early-Stage Delinquencies Drives First Increase in Past

Yahoo Finance

Logo (PRNewsfoto/Black Knight, Inc.) Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 3.36% Month-over- …

Foreclosure Prevention, Refinance, and FPM Report – 4Q2021 | Federal Housing Finance Agency – Federal Housing Finance Agency

Full Coverage

     
 

Foreclosure Purchaser Cannot Avoid the Running of Interest due to COVID-19 – Lexology

Lexology

The CSA declined both requests. Pursuant to the advertisements of sale and contracts signed at the auctions, the foreclosure purchaser agreed to pay …

     
 

Notice of Continued Mortgage Foreclosure Sale: Nadawah L. Roberts – Elba Clipper

Elba Clipper

NOTICE OF CONTINUED MORTGAGE FORECLOSURE SALE. Default having been made in the payment of the indebtedness secured by that certain mortgage …

     
 

Past-Due Loans Post 1st Increase in 9 Months In February – National Mortgage Professional

National Mortgage Professional

Foreclosure starts nationwide totaled 25,000, down 24% from January but up a staggering 541% from February 2021, Black Knight said.

     
 

Foreclosure | Alabama Mountains

Spot On Alabama

NOTICE OF MORTGAGE FORECLOSURE SALESTATE OF AlabamaCOUNTY OF DEKALB Default having been made of the terms of the loan documents.

     
 

US Urges Court To Allow Foreclosure To Get FBAR Penalties – Law360

Law360

A dead man’s Miami-area condominium should be foreclosed on and sold to satisfy his unpaid penalties for failing to report foreign bank accounts …

     
 

Mortgage delinquency rates increase after nine months

Mortgage Professional America

Foreclosure starts were at 25,000 last month, but this is still 25% below … Black Knight noted a stark 39,000 increase in active foreclosures.

     
 

Public Notices – Columbia Star

Columbia Star

FORECLOSURE INTERVENTION AND CERTIFICATION OF COMPLIANCE WITH THE CORONAVIRUS AID RELIEF AND ECONOMIC RECOVERY ACT STATE OF SOUTH CAROLINA

Summary of Foreclosure Abuse Prevention Act Proposed in the New York Legislature – Eckert Seamans

Livonia Foreclosure – Babi Legal Group, PLLC – Babi Legal Group, PLLC

Full Coverage

     
 

Courts | News, Sports, Jobs – Morning Journal

Courts | News, Sports, Jobs – Morning Journal

Common Pleas New Cases County Treasurer vs. Kathryn Brown, et al., foreclosure sought for alleged delinquent taxes for property on Clarkson Road, …

     
 

Mezzanine Lender Cannot Prevent Mortgage Lender From Foreclosing on Real Property – JD Supra

JD Supra

… agreement and the Mezzanine Lender does not aver that there is an intercreditor agreement preventing foreclosure [*3] by the Mortgage Lender.

     
 

Ask a Maritime Attorney: The boat I was contracted to do work on is being foreclosed on but I …

The Log

In our reader’s case, and in most maritime foreclosure cases, the holder of the preferred ship mortgage has priority over everyone else. There are …

     
 

How to Execute a Short Sale in Florida – Boca Raton’s Most Reliable News Source

Boca Raton Tribune

After the subprime mortgage bubble burst, more homes went into foreclosure and were sold in short sales in Florida than in any other state in the …

Foreclosure Specialist – Job at loanDepot in Plano, TX – Milwaukee Jobs – Milwaukee Jobs

Full Coverage

     
 

New report finds neighborhoods in the Bronx lead the city in missed mortgage payments | 6sqft

6sqft

Many of these areas were protected from foreclosures until the state’s … funding and supporting foreclosure prevention services in the city, …

     
 

A new proposal would offer legal representation for Detroiters facing eviction

Detroit Free Press

More:Wayne County tax foreclosure deadline: What homeowners, tenants should know. More:$243M fund to help Michiganders stay in homes will include …

     
 

New Jersey Federal Court Denies Motion for Reconsideration of Dismissal of Mortgage … – Lexology

Lexology

After Davis defaulted on her mortgage, BoA filed for foreclosure in state court in 2016, with a final judgment of foreclosure entered on May 21, …

     
 

Squatters in Bayside, bracing for foreclosures, & more – Brick Underground

Brick Underground

Owners in NYC’s predominately Black neighborhoods brace for foreclosures (The City). Tenants at NYCHA’s Surfside Gardens in Coney Island have been …

     
 

Public Notices – – Babylon Beacon

Babylon Beacon

of Foreclosure and Sale duly dated June 16, 2021 I, the undersigned Referee will sell at public auction at the. Babylon Town Hall, 200 East

CLERICUS – Foreclosure Sale List – Sumter County Clerk of Courts – Sumter County Clerk of Courts

Full Coverage

     
 

Ukrainian students ask Vermonters to support no-fly zone | | manchesterjournal.com

Manchester Journal

Pawlet seeks foreclosure of Daniel Banyai’s Slate Ridge property, new contempt order (copy) · $15M four-story downtown building wins Bennington …

     
 

previously as well as your house plummeted into land foreclosures. Back as far as – Adotas

Adotas

There’s a lot of types money advance services. To understand precisely what is a hard money lender, it is wise to know what a difficult cash loan …

How a Couple Made $120,000 on NFTs and Saved Their Home from Foreclosure – NFT Now – NFT Now

Full Coverage

     
 

Entrepreneur Catherine Steele helped build a business empire in Atlantic Canada

The Globe and Mail

She purchased, refurbished and then sold three houses in Dartmouth that were in foreclosure. When her husband was posted to command the Canadian …

     
 

State lawmakers advance $4.7B infrastructure spending compromise – MiBiz

MiBiz

… and $121.4 million to a homeowner assistance fund for people facing mortgage defaults, delinquencies or foreclosure on their home.

     
 

Black Knight : First Look at February 2022 Mortgage Data | MarketScreener

MarketScreener

*Non-current totals combine foreclosures and delinquencies as a percent … except foreclosure starts, which are rounded to the nearest hundred.

     
 

Liberia: Cephus on ‘Fishing Expedition’? – Liberian Observer

Liberian Observer

Interestingly, for Global Bank, the situation is different, because, the bank, on February 17, 2022 filed a lawsuit, a petition for Foreclosure of …

     
 

Teens’ car shot at in Bayside; one, 19, hit | Queenswide | qchron.com

Queens Chronicle

His office told the Chronicle that it has been working to get in contact with the bank that owns the house, which is in foreclosure.

     
 

Fitch Assigns Expected Ratings to Think Tank Residential Series 2022-1 Trust

Fitch Ratings

Sufficient Credit Enhancement Mitigates Expected ‘AAAsf’ Losses (Positive): The ‘AAAsf’ weighted-average foreclosure frequency (WAFF) of 15.7% is …

     
 

North Omaha and South Omaha win $150 million housing appropriation | Govt-and-politics

Beatrice Daily Sun

The rate of foreclosures increased significantly year-over-year … Homeowners who were unable to make the payments on their mortgage loans were …

     
 

State Creates Website to Help Ukrainian Refugees, Supporters | Huntington, NY Local News

Huntington Now

State Program to Aid Homeowners Facing Foreclosure. Gov. Kathy Hochul announced Monday that New York has won federal approval of a program that …

     
 

The Docket: Real estate lawsuit roundup for 3.24.22 – BusinessDen

BusinessDen

Filing of a petition to substitute a bond for a mechanic’s lien foreclosure for The Emily Griffith Opportunity School Urban Redevelopment Plan, …

     
 

2022 Women in Business Awards: Sonja Ebron – Courtroom5 – Triangle Business Journal

The Business Journals

We are seeing more debt collection, foreclosure, and bankruptcy cases and changing our processes to meet that demand.

     
 

Westborough Prepares To Market Vacant Theater Property – Patch

Patch

The town took possession of the property in January after a tax foreclosure. The Select Board is in the process of writing a request for proposals …

     
 

Jammu and Kashmir seeks CBI probe into graft claims in award of 2 contracts – Times of India

Times of India

However, after Malik ordered foreclosure of the deal due to suspected wrongdoings, it was found that Clause 17 of the agreement between the …

     
 

Keyroo Launches New Service in the Dallas, TX Area that Buys Houses for Cash – Digital Journal

Digital Journal

From people who are dealing with financial difficulties and are being threatened with foreclosure and those who have a vacant property that they …

Residential Condominium (A3) (2) – Collin County Foreclosure Notices – Collin County Foreclosure Notices

Full Coverage

     
 

Gas leak leaves Sandy Springs roadway ‘completely shut down’ – YouTube

YouTube

Foreclosure fees has local judge steaming mad. ABC Action News. ABC Action News. •. 3.4M views 11 years ago · Belarus: Undercover in Europe’s last …

     
 

5 Best Consumer Protection Attorneys in Miami, FL

Kev’s Best

Jacobs Legal is the law firm you need for Miami consumer protection & foreclosure defense & personal injury. To say the least, being threatened with …

     
 

Behind morning traffic snarl, a sad saga: Another move in Winston-Salem’s yearslong fight …

Winston-Salem Journal

Evictions and foreclosures happen all the time. Violations notices mailed to property … That didn’t work, and the lender started foreclosure.

     
 

What Is The Purpose Of Forbearance? – South Florida Reporter

South Florida Reporter

For some people who are struggling financially, this can mean the difference between making loan payments and falling into foreclosure or default.

How Foreclosure Impacts Credit Scores | Capital One – Capital One

Full Coverage

     
 
WEB  

Foreclosure – Sale & Sold Lists – Passaic County Sheriff s Office

Passaic County Sheriff s Office

While every effort is made to ensure that foreclosure listings are accurate and timely, the Passaic County Sheriff’s Office does not warrant or …

     
 

State of Vermont Notice of Foreclosure Sale Docket No 11 1 21 Lecv | Legal Announcements

Vermont Community Newspaper Group

Details for State of Vermont Notice of Foreclosure Sale Docket No 11 1 21 Lecv. Updated 7 min ago. Categories. Legal. ×. Post a comment as.

     
 

2015-2016 Legislative Sessions – Statute | Kansas State Legislature

Statute | Kansas State Legislature

Refund of purchase money, taxes and charges when foreclosure sale adjudged to be invalid; interest; quitclaim deed. If after the sale of real …

     
 

Garbage Removal & Foreclosure Cleanouts in Kingston, MA

Waste Away Junk Removal LLC

Home Foreclosure Cleanouts. Foreclosure Cleanout Services in Kingston, MA Depending on the state of the property, home foreclosures can be a …

     
 

 

 

Mortgage Fraud Daily Update ⋅ March 25, 2022

 
   

Mortgage fraudsters sentenced, indicted in California and Florida

Mortgage Professional America

A ringleader and his brother-in-law have been indicted for their participation in a multi-state scheme involving mortgage fraud, credit repair and …

California ringleader charged in multi-layered fraud scheme | Internal Revenue Service – Internal Revenue Service

Full Coverage

     
 

DOJ Aggressively Targeting PPP Loan Recipients for Fraud: What Businesses Need to Know

National Law Review

How will PPP Loan Fraud Enforcement Under FIRREA Work? The government is also utilizing FIRREA in response to fraudulent conduct related to PPP loans.

     
 

Trial date planned for Suisun City woman, 52, charged in massive fraud schemes

The Vacaville Reporter

… consultant fraud; one count of grand theft; one count of passing a false check in the amount of $500,000; and one count of mortgage fraud.

     
 

Former HP Planning Manager from Fremont, California Pleads Guilty to Over $5 Million in …

Sierra Sun Times

Former HP Planning Manager from Fremont, California Pleads Guilty to Over $5 Million in Wire Fraud Scheme, Many Luxury Items Forfeited in Plea …

     
 

Pa. Atty Gets 3 years For Forging Parents’ Mortgage Note – Law360

Law360

Jurors convicted Sater, a former personal injury lawyer, in November 2020 of bank fraud and aggravated identity theft for the forged mortgage …

     
 

5 Tips For Protecting Yourself From Tax Scams – Forbes Advisor

Forbes

Three things in life are certain: Death, taxes and tax scams. From text messages claiming to be from the IRS to phone messages threatening you …

     
 

Phoenix man accused of identity theft, fraud for embezzling from nonprofit – KTAR.com

KTAR News

Casa Grande woman who won Arizona lottery charged with fraud, theft … Here’s what you need to know and consider when refinancing your mortgage.

     
 

California Supreme Court Weighs In On Negligence Claims Related To Mortgage Loan Modifications

Mondaq

For several years, courts interpreted that rule to include loan … Officers, Directors, Employees Are Personally Liable For Fraud In Which They …

     
 

Beleaguered house hunters are now watching mortgage rates spike, too – NBC News

NBC News

Homebuyers looking for property in this competitive housing market have to consider mortgage interest rates that have nowhere to go but up.

     
 

Moody’s affirms A1 (sf) rating of Mortgage Beneficial Interests A issued by Bora Chiara V

Yahoo Finance

The A1 (sf) rating on the Mortgage Beneficial Interests A is based on … including but not limited to by any negligence (but excluding fraud, …

Data & Analytics Blog – First American Data & Analytics

Full Coverage

     
 

Court sentences Michael Jackson to prison for fraud | The Guardian Nigeria News

The Guardian Nigeria News

The Federal High Court in Ikoyi, Lagos, has sent one Michael Jackson to three months in prison for internet fraud. According to the Economic and …

     
 

‘Hang up immediately’: Toronto police issue alert about phone scam involving man …

Toronto Star

Toronto police have issued a warning about a phone scam where the caller … Chinese law firms reportedly targeted in $10M mortgage fraud scam …

     
 

Seconds activity continues to grow amongst prime borrowers | Financial Reporter

Financial Reporter

For those borrowers specifically using a second charge mortgage for debt consolidation purposes, the average loan amount has increased again to £ …

     
 

Tax Fraud Blotter: Another one rides the prison bus | Accounting Today

Accounting Today

San Tan Valley, Arizona: Former state legislator and justice of the peace Keith Allan Bee, 56, has been sentenced to six months in prison for filing a …

     
 

Prime second charge borrower numbers inch up – Mortgage Finance Gazette

Mortgage Finance Gazette

For borrowers specifically using a second-charge mortgage for debt consolidation purposes, the average loan amount rose again to £22,184, with an …

     
 

LiveMore appoints sales director in senior team expansion | Financial Reporter

Financial Reporter

Jon Sturgess joins the team as sales director, with over 25 years of experience in specialist lending within mortgages and second charge lending.

     
 

Stonebridge says mortgage applications jumped by 19% in 2021

Mortgage Finance Gazette

She added that so far this year application lending volumes are up by 26% with February being a record month for the network, with £1.35bn of mortgage …

     
 

YBS improves criteria for individual landlords | Financial Reporter

Financial Reporter

YBS Commercial Mortgages is changing the criteria on its buy-to-let product to make it accessible to more landlords who are borrowing in their own …

     
 

Olympic Gold Medalist Cindy Brown, OLY and Harvard Law School Grad, Entertainment …

Benzinga

Brown lost all her estimated $2.5 million in net worth and her home to mortgage fraud and identity theft, became homeless, and lived in her car.

     
 

Moody’s assigns definitive ratings to SAIC-GMAC’s second auto loan ABS transaction for 2022

Yahoo Finance

Rongteng 2022-2 Retail Auto Mortgage Loan Securitization — Moody’s … including but not limited to by any negligence (but excluding fraud, …

     
 

Mortgage rates surge to 3-year high following Fed hike

National Mortgage News

Mortgage rates accelerated following last week’s Federal Reserve meeting, … Rise in wire fraud partially attributed to exhausted home buyers.

     
 

Moody’s affirms four and downgrades one class of CSAIL 2015-C2 – Yahoo Finance

Yahoo Finance

CSAIL 2015-C2 Commercial Mortgage Trust — Moody’s affirms four and … including but not limited to by any negligence (but excluding fraud, …

     
 

Courtland Woman Pleads Guilty to Theft, Fraud Charges | KDUZ

KDUZ

As part of the agreement, four counts of felony transaction card fraud filed in June 2021 against Angela L. Voges were dismissed.

     
 

MBA Finds Mortgage Burden at Record High | Credit Union Times

Credit Union Times

“Together with increased loan application amounts, a mortgage applicant’s median principal and interest payment in February jumped $127 from January …

     
 

New Jersey Federal Court Denies Motion for Reconsideration of Dismissal of Mortgage … – Lexology

Lexology

Plaintiff Kim Davis (“Davis”) executed a mortgage on property in … The Court rejected Davis’s mistake and fraud contentions, noting that her …

     
 

Long-term US mortgage rates up to 4.42%, highest since 2019 – Connecticut Post

Connecticut Post

Mortgage buyer Freddie Mac reports, Thursday, March 17, 2022, … It’s the crime CT lawyers say ‘fits almost all transactions’: wire fraud …

     
 

Long-term US mortgage rates up to 4.42%, highest since 2019 – Stamford Advocate

Stamford Advocate

Feds: Stamford traders of global firm tied to fraud schemes … Mortgage buyer Freddie Mac reports, Thursday, March 17, 2022, that the average …

     
 

2 plead guilty in ride-hailing fake driver account scheme – Times Union

Times Union

The scheme also employed the use of automated bots and GPS spoofing technology to increase the income earned from the fraudulent accounts, prosecutors …

     
 

Frosties NFT Creators Charged With ‘Rug Pull’ Investor Fraud – BNN Bloomberg

BNN

Federal prosecutors in New York on Thursday charged Ethan Nguyen and Andrew Llacuna with wire fraud and conspiracy to commit money laundering.

     
 

Declining mortgage affordability quantified in new index

National Mortgage News

It measures the borrower’s mortgage-payment-to-income ratio and a higher … Rise in wire fraud partially attributed to exhausted home buyers.

     
 

A quarter of new home loans are high risk: What you’ve missed | Money magazine

Money magazine

One in five new mortgages high risk, and Australia tops global property price … This growth was driven by higher rates of card fraud and scams.

     
 

Ex-HP executive pleads guilty to $5 million credit card fraud scheme – Silicon Valley

Silicon Valley

Just 13 weeks ago the Freddie Mac average hit its recent low of 3.05%. Bubble watch: Mortgage-rate spike is the worst since 1980.

     
 

11th Circuit: ‘Unavailable’ info does not mean ‘unobtainable’ | News by Edition

RESPA News

… provide a breakdown of all charges and credits applied to her mortgage account, … Disbarred attorney sentenced for bankruptcy, wire fraud …

     
 

New Home Sales Tumble Again As Mortgage Rates Crimp Affordability – InsuranceNewsNet

InsuranceNewsNet

Mortgage rates have been on the rise as the Federal Reserve begins reversing the easy-money policies it implemented about two years ago at the …

     
 

MP probes HMRC on tax charges to pension scam victims – FTAdviser.com

FT Adviser

Stephen Timms MP and chairperson of the Work and Pensions committee has written to HM Treasury asking for clarity on the tax treatment of pension …

     
 

KARE 11 Investigates: Allegations of fraud in meals program for kids – YouTube

YouTube

KARE 11 Investigates: Allegations of fraud in meals program for kids … WILL FLOOD DEALER LOTS – BUILD MENTAL TOUGHNESS NOW – MORTGAGE CRISIS.

     
 

Couple buys overseas condo after swindling millions from Medicare, COVID funds, feds say

The Fresno Bee

… of dollars in two separate fraud schemes taking advantage of Medicare, … revenue information and employee counts for the loan applications.

     
 

Mortgage rates soar to highest level in over three years, putting more pressure on home buyers

MarketWatch

Rising mortgage rates will put more pressure on the budgets of families … $1.3 million from Amazon in elaborate fake sale-and-refund fraud.

     
 

Rising Interest Rates Will Shift Housing’s Foundations – WSJ

Wall Street Journal

Rising interest rates will stagger the housing market. Don’t expect it to go down for the count, though. Mortgage rates have been very low for a very …

     
 

HOW TO GET A LOAN WITH BAD CREDIT | BEST PERSONAL LOANS ONLINE … – Forks Forum

Forks Forum

How to Spot a Scam Before You Become The Victim Of A Bad Credit Loan Fraud. Does A Lender Contact You Directly? Just applied?

     
 

Mortgage rates are likely to push toward 5% before the end of the year’: Rates soar … – MarketWatch

MarketWatch

Rising mortgage rates will put more pressure on the budgets of families … $1.3 million from Amazon in elaborate fake sale-and-refund fraud …

     
 

Mumbai: Retired navyman loses ₹1.8 lakh to Google listing fraud while ordering alcohol in Khar

Free Press Journal

1% Metro cess on sale, gift and mortgage documents executed from April 1, 2022 in Mumbai, Thane,.

     
 

San Marcos Man Among 4 Charged In Investment Fraud Scheme – Patch

Patch

The men are each charged with wire fraud, conspiracy to commit wire fraud and conspiracy to commit money laundering. Find out what’s happening in San …

     
 

BBB Study: Cryptocurrency is ripe for fraud and financial loss | News Events Opinion More

The Independent | St George Utah News

Scams – Many have heard of Bitcoin, developed in 2009, which remains the most … as well as fraudulent online sales, advance fee loan scams, …

     
 

Cryptocurrency is ripe for fraud and financial loss – Crypto News BTC

Crypto News BTC

leads to dramatic improve in fraud and monetary losses … cost technique in fraudulent on-line gross sales, advance charge mortgage scams,

     
 
WEB  

Man Wanted by Toronto Police for Mortgage Fraud May Be in B.C. | BCFSA

BCFSA

Yuansen Fu, 23, was issued a Canada-wide warrant for arrest by the Toronto Police Service for allegedly committing mortgage fraud, creating false …

     
 

Cbi Books Metropolis Agency For Mortgage Fraud Over Financial institution Criticism

The Times Of Truth

The corporate gave safety for the mortgage by hypothecation of labor in progress, receivables and collateral safety of a bit of land mortgaged by …

     
 

 

Stop Foreclosure, Sue for Breach of Contract 

Now is the perfect time to stand up for your legal rights and sue for beach of contract, mortgage fraud, and foreclosure fraud because the legal tide is beginning to turn, and homeowners are starting to win! In 2016 the California Supreme Court ruled in Yvanova v. New Century Mortgage Corporation (Case No. S218973, Cal. Sup. Ct. February 18, 2016) that homeowners have legal standing to challenge an assignment of the mortgage loan contract in an action for wrongful foreclosure on the grounds that the assignment(s) is/are void. Obviously if the court had ruled differently, the banks would have had carte blanche to forge mortgage assignments with wild abandon. In fact, without a system of endorsements and assignments it would be impossible to determine who has a legitimate interest in the property!

In THE PAPER CHASE: SECURITIZATION, FORECLOSURE, AND THE UNCERTAINTY OF MORTGAGE TITLE ADAM J. LEVITIN writes “the mortgage foreclosure crisis raises legal questions as important as its economic impact. Questions that were straightforward and uncontroversial a generation ago today threaten the stability of a $13 trillion mortgage market: Who has standing to foreclose? If a foreclosure was done improperly, what is the effect? And what is the proper legal method for transferring mortgages? These questions implicate the clarity of title for property nationwide and pose a too- big-to-fail problem for the courts.

The legal confusion stems from the existence of competing systems for establishing title to mortgages and transferring those rights. Historically, mortgage title was established and transferred through the “public demonstration” regimes of UCC Article 3 and land recordation systems. This arrangement worked satisfactorily when mortgages were rarely transferred. Mortgage finance, however, shifted to securitization, which involves repeated bulk transfers of mortgages.

Like many other cases, current trial court decisions are getting reversed because the courts are waking up to the reality of the rule of law. What they have been following is an off the books rule of “anything but a free house.” However a recent Yale Law Review Article eviscerates the assumptions of a free house for the homeowners and destroys the myth that somehow that policy has saved the nation. You can read the Yale Law Review article “In Defense of “Free Houses” for more information on this tide change.

To facilitate securitization, deal architects developed alternative “contracting” regimes for mortgage title: UCC Article 9 and MERS, a private mortgage registry. These new regimes reduced the cost of securitization by dispensing with demonstrative formalities, but at the expense of reduced clarity of title, which raised the costs of mortgage enforcement. This trade-off benefited the securitization industry at the expense of securitization investors because it became apparent only subsequently with the rise in mortgage foreclosures. The harm, however, has not been limited to securitization investors. Clouded mortgage title has significant negative externalities on the economy as a whole.

If your loan contains fraud or it was securitized then your lender may have breached your mortgage loan contract, and therefore your mortgage loan contract could be legally challenged in a court of law. If your mortgage loan contract is declared legally void, then any assignments of the mortgage loan contract, or subsequent assignments, could also be declared legally void.

Securitization is the process of taking an asset and transforming them into a security. A typical example of securitization is a mortgage-backed security (MBS), which is a type of asset-backed security that is secured by a collection of mortgages. Keep in mind that it is perfectly legal for banks to create mortgage-backed securities (MBS’s); however there are significant legal ramifications that will either harm you, or benefit you, depending on what actions you take in response to the fact that your mortgage or deed of trust is legally void resulting in your property, in reality, being unsecured, just like a unsecured credit card debt. What’s in your wallet?

This is why we recommend that you take immediate action and sue for the remedy the law entitles you to, and that you deserve. Treble damages and clear and free title to your home. Not sure if your loan contains mortgage fraud or if it was securitized, no problem, we will do a free mortgage fraud analysis and free Bloomberg securitization search for you.

Many of the programs that had modest success in the early days have fallen into disfavor as banks have enacted strategies to counter their progress. The banks are not going to go down without a serious fight. They have a large arsenal of tools to use, and the legal muscle to keep the industry off balance. This is not a static game. The reason that banks have been successful, for the most part, in protecting the large number of mortgages that were securitized is that there is an intricate web of legal theories that they hide behind to justify what they have done. In effect, they have created a shell game where the ball seems to move around in defiance of the laws of physics.

The banks are relying on a complex interaction between UCC 3 commercial paper law, UCC 9 securitization law, bailment law, agency law and local laws of the jurisdiction where the property is located. They would have us believe that what they have been doing since the 1970’s is perfectly legitimate. Many lawyers who have challenged the banks have gotten close to exposing the scheme only to find that judges retreat away from the complexity of the legal theories involved and fall back on procedural barriers under the auspices of protecting the equitable interests of the banks and their agents.

FRAUD STOPPERS Foreclosure Defense Program has moved the bar forward in many substantial ways:

  • Our Private Administrative process is a targeted approach to Informal Discovery:
  • 3-501. PRESENTMENT or States equivalent
  • Mortgage Error Resolution/Request for Information: If you believe there is an error on your mortgage loan statement or you’d like to request information related to your mortgage loan servicing, you must exercise certain rights under Federal law related to resolving errors and requesting information about your mortgage loan. If you think your credit report, bill or your mortgage loan account contains an error, or if you need more information about your mortgage loan, you send a written letter concerning your error and/or request.
  • Cutting edge mortgage fraud examination and court ready lawsuits and trial ready evidence to win your case
  • Nationwide foreclosure defense attorneys and Pro Se litigation education and support products and services

Subsection of Presentment (example Covenant 8 of UCC3 Note) shows NOTE and under paragraph 1 states: “BORROWER’S PROMISE TO PAY: In return for a loan that I have received, I promise to pay….

MULTI STATE FIXED RATE NOTE–Single Family–Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3200 1/01 (page 1 of 3 pages) Covenant:

  1. WAIVERS

I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. “Presentment” means the right to require the Note Holder to demand payment of amounts due. “Notice of Dishonor” means the right to require the Note Holder to give notice to other persons that amounts due have not been paid.

  • 15 U.S. Code § 1692g – Validation of debts

Often a debt collector cannot validate a debt and therefore cannot legally enforce collections.

  • Truth In Lending Act (TILA RESCISSION) codified in 12 CFR Part 226 (Regulation Z); particularly§ 226.34 Prohibited acts and §226.32 sub-paragraph (ii) et seq. predatory lending practices

A mortgage loan covered by the Truth in Lending Act may be rescinded by mailing a Rescission Letter to the purported lender, forcing the purported lender/creditor to oppose that rescission with a lawsuit within 20 days or lose all opposition rights.

  • The primary focus of the legal aspect of our program revolves around taking the theories and best practices that have been most successful around the country and make refinements.

“Here, the specific defect alleged is that the attempted transfers were made after the closing date of the securitized trust holding the pooled mortgages and therefore the transfers were ineffective.

  • Our program seeks to avoid getting mired in the complexity of the various areas of law involved, instead focusing on a simple, focused approach that makes it harder for judges to avoid the strength of our core arguments.
  • The PMA trustees and executive team have a diverse set of skills and significant experience in the core areas that will improve the success factors for our operations.

We have spent an exhaustive amount of time analyzing all of the cases that have been successful in resolving mortgage securitization problems. We have designed our legal information litigation strategy to hit the banks hard and fast where they are most vulnerable.

Our primary focus is on getting clear and marketable title to the property by arguing that the actions of the banks have made the security provisions of the mortgage/deed of trust unenforceable.

Instead of fighting the foreclosure itself head-on, we argue that none of the banks or their agents has the right to enforce the foreclosure provisions of the Mortgage/Deed of Trust. In effect, if none of the banks have standing to enforce the foreclosure provision, we are entitled AS A MATTER OF LAW to a declaratory judgment of Breach of Contract (Security Agreement) that is res judicata, i.e., a permanent ban on foreclosure.

The Stand & Fight Program is a complete program that provides you with everything you need:

  • Administrated Process
  • Court Ready Chain of Title Investigation and Signed Affidavit
  • Complaint along with all exhibits
  • Legal Research
  • Legal Briefs
  • Motions
  • Answers
  • Interrogatories
  • Depositions
  • Case Management for Local Civil Rules of Procedures
  • Training and Support

Take action right now and get the FACTS and HELP that you need to gain the legal remedy that the law entitles you to, and that you deserve!

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For information on foreclosure defense call us at 800-459-1215. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.

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Chicago, IL 60602

Email

info@fraudstoppers.org

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Mon: 10am - 5pm
Tue: 10am - 5pm
Wed: 10am - 5pm
Thur: 10am - 5pm
Fri: 10am - 5pm
Sat: Closed
Sun: Closed

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THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. FRAUD STOPPERS is a Private Members Association PMA. FRAUD STOPPERS PMA is NOT a law firm, non-profit organization, or government agency.  FRAUD STOPPERS PMA does not operate in the public sector. Although this website is visible to the public  FRAUD STOPPERS PMA does not intend for any information contained in this website to be considered as legal advise.

The information about Foreclosure law and other legal information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.  Information on this website may not constitute the most up-to-date legal or other information.  This website contains links to other third-party websites.  Such links are only for the convenience of the reader, user or browser; FRAUD STOPPERS and its members do not recommend or endorse the contents of the third-party sites.

Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter.  No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction.  Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation.  Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client relationship between the reader, user, or browser and website authors, contributors, contributing law firms, or committee members and their respective employers. This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances.

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