Mortgage Fraud Daily News Update ⋅ April 19, 2022


MLO Mentor: HECM fraud and abuse | firsttuesday Journal

First Tuesday Journal

This article discusses abuse, theft, and fraud schemes related to Home Equity Conversion Mortgages (HECMs).

9 mortgage scams you need to know about – MediaFeed – MediaFeed

Full Coverage




Pingora Loan Service Letter Could Be a ScamMortgage Lendees Beware – Market Realist

Market Realist

People across the U.S. might have received a letter from Pingora Loan Services about their information being breached. Is the letter a scam?




Feds: Independence woman defrauded former employer of over $500k – Cincinnati Enquirer

Cincinnati Enquirer

Hachelle Alsip, 42, is facing two counts of wire fraud in federal … as a a loan funding representative at the Erlanger-based Victory Mortgage, …




Feds: Independence woman defrauded former employer of over $500k – Yahoo News

Yahoo News

Alsip “transferred funds between Victory Mortgage bank accounts and falsified the company’s accounting records to conceal the fraudulent nature of …




Former Forum director contests liquidators’ move to wind up companies

Mortgage Professional America

… to roll up nine entities related to the alleged fraud against Westpac. … Tesoriero also testified that a loan of about $10 million is due to …




Delaware County Launches Free FraudSleuth® Software to Help Residents Fight Property Fraud

Delaware County

FraudSleuth® is a software-based monitoring tool that alerts property owners when any document—such as a mortgage, deed, or mortgage …




Carr: Prosecution Division Secures Indictment in Cyber Fraud Case – Georgia Attorney General

Georgia Attorney General –

ATLANTA, GA – Attorney General Chris Carr today announced the indictment of Borin Khoun on one count of Theft by Taking relating to the …




New York Fraud Attorney Russ Kofman Explains the Different Types of Fraud Charges

Digital Journal

These charges include tax fraud, mail fraud, wire fraud, securities fraud, mortgage fraud, healthcare fraud, and federal bank fraud.




Home buying and selling: How to protect yourself against identity theft and fraud – What Mortgage

What Mortgage

Home buyers and sellers must submit a lot of personal information to ensure identify theft and anti-money laundering protocols are met.




3 plead guilty to wire fraud in virtual currency operation – Times Union

Times Union

(AP) — Three people have pleaded guilty to wire fraud in opening accounts at financial institutions in their names or in the names of churches to …




FBI warns public of new text message scam –

Text message scam concept with fake on screen … following: “Free Msg- (Insert financial institution name here) Bank Fraud Alert- Did You Attempt …




U.S. Secret Service cracks down on crypto fraud – YouTube


U.S. Secret Service cracks down on crypto fraud … Flat Fee Mortgage Broker: Save Thousands to 10+ Thousands of $ on your Interest and Closing …




Man arrested over alleged N6.4m visa fraud | The Guardian Nigeria News

The Guardian Nigeria News

Uwala of no fixed residential address, is facing a three-count charge of fraud, stealing and forgery, to which he pleaded not guilty.




Former Indiana casino executive pleads guilty to tax fraud – Times Union

Times Union

He entered his plea a week after his co-defendant, former state Sen. Brent Waltz, pleaded guilty to other federal charges for receiving about $40,000 …




IRB Brasil Former CFO Charged With Fraud in U.S. for Spreading False Information – MarketWatch


By Jeffrey T. Lewis SÃO PAULO–The U.S. Securities and Exchange Commission has charged a former chief financial officer of IRB Brasil with …




‘I can’t sleep’: Sarasota, Charlotte homeowners in limbo over unfinished houses

Sarasota Herald-Tribune

Construction fraud and defaults are so common in Florida there’s a special fund … in the fraud conviction of a Tampa banker and mortgage broker, …




France: EU fraud agency investigating candidate Le Pen ::


Paris prosecutors are studying a report by the European Union’s fraud agency accusing French far-right presidential candidate Marine Le Pen and …




FHA offers 40-year mortgage modification, seeks public comment to make it permanent

ABA Banking Journal – American Bankers Association

FHA added a 40-year mortgage mod option to assist borrowers who are behind on their mortgage payments and hopes to make it permanent.




Finova brings out new broker management platform – Mortgage Finance Gazette

Mortgage Finance Gazette

Finova has launched Broker ID, a data management platform to help lenders with broker onboarding and due diligence processes.




Man Found Guilty of Misusing COVID-Relief Business Loan on Personal Expenses … – MyChesCo


Sissoko was convicted of four counts of wire fraud. He is scheduled to be sentenced on July 18 and faces up to 20 years in prison for each count …




Should You Take Out a 15-Year Mortgage? Here’s What Suze Orman Thinks | Nasdaq


But when it comes to signing a mortgage, you have choices. … Tesla Stockholders Ask Judge to Silence Musk in Fraud Case Apr 18, 2022.




This Mortgage Trend Could Spell Good News for Home Buyers | Nasdaq


But while rising rates aren’t a good thing for buyers, lower mortgage … Tesla Stockholders Ask Judge to Silence Musk in Fraud Case Apr 18, 2022.




Sales Boomerang releases Q1 2022 Mortgage Market Opportunities Report | National |


The Q1 2022 report showed an increase in purchase and home-equity loan opportunities that could help lenders offset dwindling refi volume. Methodology.




Mortgage Rates Are Rising, but These Moves Could Help You Score a Lower Rate | Nasdaq


Meanwhile, lenders tend to give out mortgage rates based on risk … Tesla Stockholders Ask Judge to Silence Musk in Fraud Case Apr 18, 2022.




Buffalo Next: Why is Buffalo’s Evergreen Health snapping up primary care clinics?

Buffalo News

… didn’t just plead guilty to a felony related to mortgage fraud last week. … alleged stemmed from fraud by Morgan and others in his circle.




Fraud was so rampant in COVID relief programs that Colorado doesn’t know how much was stolen

Sterling Journal-Advocate

Colorado officials know widespread fraud siphoned off millions of … That’s just in cases where the loan recipient disclosed the age of the …




Online romance scam suspect apprehended by Halton Police – Toronto Star

Toronto Star

Halton Police have arrested a man believed to be involved in defrauding a number of people through online romance.




House prices to reach record high, shows Reallymoving data – Mortgage Finance Gazette

Mortgage Finance Gazette

The average house price in England and Wales is set to continue to rise over the next quarter to a new record high of £389712 in June 2022, …




How to reduce e-banking frauds in Nigeria, by don

The Guardian Nigeria News

… past Head of Department of Management and Accounting, Abiola Idowu, has suggested ways of reducing the upsurge in E-banking fraud in Nigeria.




AI SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages … – Benzinga


SAN FRANCISCO, April 18, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges, Inc. (NYSE:AI) investors with significant losses to submit your …




U.S. homebuilder sentiment drops to seven-month low amid surging mortgage rates | Nasdaq


“While higher mortgage rates will help to slow home price growth by … Tesla Stockholders Ask Judge to Silence Musk in Fraud Case Apr 18, 2022.




Indiana ex-casino magnate pleads guilty to tax fraud involving contributions to political …

Fox Business

Today’s mortgage rates: 30-year rates hold steady since Thursday | April 18, 2022 … Quotes displayed in real-time or delayed by at least 15 minutes.




The small print without any hidden catches | Financial Reporter

Financial Reporter

“If the value of the property decreases after the loan is taken out then the percentage that the borrower has to repay is reduced accordingly.”.




Massive $5 million reward on heads of Kinahan cartel is aimed at smashing the wall of silence

Sunday World

He is serving a four-year prison sentence for mortgage fraud. Prison: Dean Masterson Gallery 2 Prison: Dean Masterson. In another recent case, …




CHL Mortgages launches short-term let proposition | Financial Reporter

Financial Reporter

Specialist buy-to-let lender, CHL Mortgages, has entered the short-term let market with the introduction of a new five-year fixed rate product …




GDT revokes service agent Fedtax’s licence over ‘tax fraud and evasion’ | Phnom Penh Post

Phnom Penh Post

GDT revokes service agent Fedtax’s licence over ‘tax fraud and evasion’ … Chinese banks defer mortgage payments due to Covid spikes.




France: EU fraud agency investigating candidate Le Pen – WTMJ


By ANGELA CHARLTON Associated Press. PARIS (AP) — Paris prosecutors are studying a report by the European Union’s fraud agency accusing French …




Cybersecurity litigation remains growing concern facing financial institutions – Banking Exchange

Banking Exchange

… COVID and remote work has made everyone “more susceptible to potential cyber-attacks and phishing scams in the home network environment.”.




Chinese banks defer mortgage payments due to Covid spikes | Phnom Penh Post

Phnom Penh Post

Major Chinese banks have allowed clients in some cities and provinces hard-hit by Covid-19 to delay their mortgage payments to assist clients with …




Top Tech Tools Used by Cybercriminals for Fraud – AARP


Thomas had retired from a career as a mortgage officer before he decided there was easier money to be had from stealing over the web. He, too, ended …




Soaring interest rates weigh on big bank mortgage loan growth – Yahoo Finance

Yahoo Finance

The average interest rate on a 30-year fixed-rate mortgage, the most popular home loan, … France: EU fraud agency investigating candidate Le Pen.




Tech Tuesday: Building a Digital Defense Against Tech Support Fraud | News |

Today: Building a digital defense against Tech Support Fraud. … NC Blood Bank. Pacific Coast Mortgage. Pacific Coast Mortgage.




France: EU fraud agency investigating candidate Le Pen – WTMJ


PARIS (AP) — Paris prosecutors are studying a report by the European Union’s fraud agency accusing French far-right presidential candidate Marine …




CELH Investors Have Opportunity to Lead Celsius Holdings, Inc. Securities Fraud Lawsuit – Benzinga


LOS ANGELES, April 18, 2022 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) announces that investors with substantial losses have opportunity …




Majority of teachers say they can’t get mortgage approval on current salaries – Irish Examiner

Irish Examiner

A significant majority of recently qualified second-level teachers do not believe they would get mortgage approval for a home near their school.




SEC Charges Senior Executive of Brazilian Company with Fraud – Benzinga


Washington, D.C.–(Newsfile Corp. – April 18, 2022) – The Securities and Exchange Commission today announced charges against Fernando Passos, …




Tenet appoints two new regional business managers | Financial Reporter

Financial Reporter

Related topics: Mortgages. Rozi Jones … its owned advice businesses (Tenet&You and Tenet Mortgage Solutions), and Tenet Compliance Services.




France: EU fraud agency investigating candidate Le Pen –


A similar EU fraud investigation was disclosed ahead of the 2017 … Here’s what you need to know and consider when refinancing your mortgage.




Dentist Faces Theft, Wire Fraud Charges In Downers Grove: Report – Patch


Dentist Faces Theft, Wire Fraud Charges In Downers Grove: Report – Downers Grove, IL – Diane Meyer, 61, is accused of practicing dentistry and …





The Daily World

How to Spot a Scam Before You Become The Victim Of A Bad Credit Loan Fraud. Does A Lender Contact You Directly? A creditor will only contact you if …

Chapter 13 Flashcards | Quizlet – Quizlet

Full Coverage





FSA bans and fines three mortgage brokers for mortgage fraud | Practical Law – Westlaw


The FSA has published the final notices it has issued to three mortgage brokers for committing mortgage fraud and failing to act with integrity.






Foreclosure Daily News Update ⋅ April 19, 2022


Colorado Court of Appeals affirms ruling in 2019 Loveland foreclosure case, vacates order to pay

Loveland Reporter-Herald

April 18, 2022 at 8:07 p.m.. The nearly three-year-long foreclosure case of Loveland resident Martha Hummel has entered a new chapter after the …




Competitive housing market brings out the crowds over foreclosed home auctions – WNDU


The volatile market is making home-buyers turn to unusual methods in Michiana, but those buying foreclosed homes will be faced with another …

Sq –

NEW Florida’s Foreclosure & Tax Deed Auction Properties listed – BiggerPockets – BiggerPockets

Full Coverage




Appeals Court: Notice of Foreclosure Requires More Than Mail and Newspaper Publication

In May 2018, the HOA made a motion for default judgment and a decree of foreclosure. The HOA was represented at that hearing, but Hummel was not, the …

Vermont Homeowners Can Get a 60-Day Foreclosure Suspension | Nolo – Nolo

Notice of Foreclosure Sale Under Power (GA) | Practical Law – Westlaw – Westlaw

Michigan Legislature – Section 565.451a – Michigan Legislature

Full Coverage




Foreclosure And Short Sale – What Are The Consequences You Should Be Aware Of On …


The housing market landed with a resounding thud in 2009 and the USA saw a rapid increase in foreclosures which in turn led to many financial …

Nonjudicial Foreclosure Process in Los Angeles County – Total Lender Solutions – Total Lender Solutions

Judicial Foreclosure Flowchart (VA) | Practical Law – Practical Law – Thomson Reuters

Foreclosure Moratorium Extension in the District of Columbia | Nolo – Nolo

Full Coverage




Tory Lanez’s $1.2 Million Foreclosure Lawsuit Dismissed – Hollywood Unlocked

Hollywood Unlocked

Tory Lanez Reportedly Sued For Foreclosure, Allegedly Owes Over $1 Million For Miami Condo. Tory Lanez Has One Less Thing.




Wisconsin just took a huge step in protecting private property | Pacific Legal Foundation

Pacific Legal Foundation

… from taking more than they are owed in property tax foreclosure sales. … Elmer and Hellen Ritter had their Wisconsin property foreclosed for …

Call Center – Legal Services Alabama | Housing – Foreclosure | – Alabama Legal Help

Full Coverage




California mortgage relief program provides second chance in delinquency | firsttuesday Journal

First Tuesday Journal

Likewise, real estate investors circling for fresh foreclosure inventory will be disappointed to learn foreclosures from delinquent owners won’t meet …




Federal judge finds no improper influence on case from colleague’s financial conflict | Courts

Colorado Politics

Obduskey alleged the defendants violated the the Fair Debt Collection Practices Act while carrying out foreclosure proceedings on his home.




AL 10304 | Legal Announcements |

The Wetumpka Herald

PUBLIC NOTICE NOTICE OF FORECLOSURE SALE Default having been made in the payment of the indebtedness secured by that certain mortgage executed by …




Detroit Still Hasn’t Paid Wrongly Foreclosed Black Homeowners – The Root

The Root

The Detroit News reported that a third of Detroit homes were foreclosed on between 2008 and 2020 and for much of that time, thousands of …




Calif. Supreme Court Confirms Negligence Claims Against Loan Servicer Not Actionable – Lexology


Shortly thereafter, Lender canceled the foreclosure sale. In March 2010, Lender sent Borrower two identical letters, one for each loan, which informed …

The Phases of Foreclosure: What to Expect – The Schrader Group – The Schrader Group

Deficiency Judgment | Practical Law – Westlaw – Westlaw

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

Full Coverage




POLL: Is the area where you practice real estate experiencing a housing shortage?

First Tuesday Journal

Related Posts · May a property owner pursue the county for recording allegedly fraudulent foreclosure documents and enforcing a court-ordered eviction?




How to Get Insurance to Pay for a Client’s Litigation Defense | Schlam Stone & Dolan LLP – JD Supra

JD Supra

… One-Action Rule Does Not Bar Simultaneous U.C.C. Foreclosure and Action to Foreclose on Mortgage and Recover Deficiency Judgment from …




Free Legal Advice Being Offered By Nassau Co. Bar Association: ICYMI | Mineola, NY Patch


The Nassau County Bar Association will be offering free legal guidance related to tax, immigration, mortgage foreclosure, and more.

Mortgage Foreclosure – Housing and Shelter | – Your Online Guide to … –

Full Coverage




Truck sales site in Miami Allapattah sold for development – South Florida Business Journal

The Business Journals

Cesar Carasa of One Stop Realty represented the seller in the deal. The property last traded in 2016, when it was seized following a foreclosure …




Fla. Attorney Gets 2-Year Ban For Work With Nonlawyers – Law360


… stemming from her work with nonlawyers through several entities that provided legal advice on foreclosure defense and timeshare divestiture cases.

Top 10 Best Foreclosure Defense Cases in Walnut Creek, CA – April 2022 – Yelp – Yelp


Full Coverage




MLO Mentor: HECM fraud and abuse | firsttuesday Journal

First Tuesday Journal

Scammers in equity theft schemes identified foreclosed, distressed or abandoned properties (or buyers) using information contained within county deed …




Lawsuits filed: April 4-8, 2022 | Public record |

Longview News-Journal

Linda Winn and Henry B. Winn, foreclosure of lien. 2022-520-CCL2 State of Texas v. Jimmy Paul McMahon and Melanie McMahon, condemnation.




Ask Amy: I’m married but can’t get over my first love – The Washington Post

The Washington Post

Then, my father’s once-successful business went under and our house was foreclosed. We were forced to move. Brian wrote me a letter when I moved about …




Rom-com might not have happy ending

We shared our first sexual experience together. Then, my father’s once-successful business went under and our house was foreclosed. We were forced to …




Clark County Common Pleas Court cases – Springfield News-Sun

Clark County Common Pleas Court cases

… Macey D. Castiaux, State of Ohio Department of Taxation, United States Of America Secretary Of Housing And Urban Development, foreclosure.




A Look at Parcel Boundary Data for the Insurance Industry

ATTOM Data Solutions

Data · Property Data · Foreclosure Data · Ownership Data · Real Estate Listings · Transactions/Mortgage · Real Estate Valuation · Boundaries …




John Medina Founder of John Medina Buys Houses Interviewed on Influential … – Digital Journal

Digital Journal

Even if a home is in foreclosure or facing foreclosure, they can help stop it. Listen to the interview on the Business Innovators Radio Network …




JMH Development to move forward with Miami Beach condo after lawsuit dismissed

The Business Journals

Both the foreclosure and the other Miami-Dade lawsuit were stayed for the case in New York to be resolved first. On April 8, New York State Supreme …




Linn County deputies arrest man in fatal crash near Scio | News |


Oregon extends foreclosure moratorium as COVID cases increase. Updated Jan 12, 2022. Eugene Emeralds, Lane County move ahead with plans for …




‘Institutionalized racism of the past’: Discriminatory housing practices resound in south Phoenix today


But the area, which saw some of the highest foreclosure rates during the … In Arizona, which led the nation for foreclosures during much of the …




Richmond group opens $8M RV park and marina in Charles City

Richmond BizSense

… Garland and Pushkal Basavaraj, acquired the 18-acre property at 9100 Wilcox Neck Road in June 2019 at a foreclosure auction for $1.26 million.




No Accused Can Be Subjected To Unending Detention: Supreme Court –

… that his right to get bail would now stand foreclosed if it is … to be construed as an indefinite foreclosure of his right to seek bail.




Sean Naso sues Michael Jessen over small dog bite, files for divorce from Sarah, more – Starcasm


In addition to going through a divorce and foreclosure, Michael reveals that he is now being sued by Sean Naso after Michael’s small Lhasa Apso …




ADIEU LACAN Sets VOD Releases Date – Broadway World

Broadway World

… Frank Langella and Elliott Gould), Foreclosure (starring Michael Imperioli) and A Hole In One (starring Michelle Williams and Meatloaf).




IDSPUB#0176175 NOTICE OF TRUSTEES | Legal Announcements |


The default(s) for which this foreclosure is made is/are as follows: … the Notice of Foreclosure provided to the Borrower(s) and Grantor(s).

Residential Foreclosures (Power of Sale) (MD) | Practical Law – Westlaw – Westlaw

Notice of Foreclosure Sale (TX) | Practical Law – Westlaw – Westlaw

Full Coverage




No pain, no gain? When exercising through injury could make it worse | |

The Wetumpka Herald





No Accused Can Be Subjected To Unending Detention Pending Trial : Supreme Court – Live Law

Live Law

… expressed by Mishra’s lawyer that the cancellation of bail will be construed as an indefinite foreclosure of his right to seek bail.




Market Mover: First United (FUNC) Up at Midday April 18 | Equities News

… purposes of holding, servicing and disposing of the real estate that the Bank acquires through foreclosure or by deed in lieu of foreclosure.




Is Another Housing Bubble Brewing in the U.S. Real Estate Market? –

Lenders were no longer making bad mortgages that could trigger another foreclosure crisis. And this time around, a housing shortage that has …

Cheap Homes In Panama City Fl –

Full Coverage




Supreme Court – Lakhimpur Kheri case: No accused can be subjected to unending detention: SC

Telegraph India

… get bail would now stand foreclosed if it is cancelled by top court. … be construed as an indefinite foreclosure of his right to seek bail.




Two Rivers City Council to Discuss Traffic and Staffing This Evening | Seehafer News

Seehafer News

… enter a closed session to discuss matters pertaining to a legal judgment obtained by the City, related to the Paragon property foreclosure.




National Health Investors (NHI) Announces $240M Share Buyback, Provides 2022 Net …

2 Loss on Holiday lease foreclosure related to working capital deficit. NHI’s 2022 annual guidance includes the following assumptions:.




Maverick targets Brooklyn landlord Yoel Goldman – The Real Deal

The Real Deal

… lender Maverick seeks foreclosure sale on historic East Village theater … apartment portfolio and became entangled in a foreclosure battle.





The Marshal and the Fatal Foreclosure – Fantastic Fiction

Fantastic Fiction

The Marshal and the Fatal Foreclosure (Nelson Lane Frontier Mystery, book 4) by C M Wendelboe – book cover, description, publication history.




How to watch and stream Foreclosure – 2022 on Roku


Foreclosure, a thriller movie starring Branscombe Richmond, Anthony Starke, and Barry Pearl is available to stream now.




Forced to Move By Foreclosure in Memphis – Darrell Castle & Associates

Darrell Castle & Associates

Some people facing foreclosure deal with suicidal thoughts. (If you or anyone you know is struggling with serious mental health crisis, help is …




Nick Thompson Bankruptcy Foreclosure Defense (Lawyer) – Jefferson County, Kentucky


Address of Nick Thompson Bankruptcy Foreclosure Defense is 800 Stone Creek Pkwy #6, Louisville, KY 40223, USA. Nick Thompson Bankruptcy Foreclosure …




Foreclosure Investment Property Homes & Houses for Sale In Pennsylvania

Somerset County Library System – OverDrive

Foreclosure Investment Property Homes & Houses for Sale In Pennsylvania. How to Get PA Foreclosed Houses, Sheriff Sales & Real Estate Investing …




Avoid Foreclosure Raleigh (Real estate agency) – Wake County, North Carolina – Helpmecovid


Address of Avoid Foreclosure Raleigh is Persimmon Ridge Dr, Raleigh, NC 27604, USA. Avoid Foreclosure Raleigh has quite many listed places around it …




tax foreclosures online Bids, RFP & Government Contracts – InstantMarkets


Also search for tax foreclosures online Contract Awards, RFIs, RFQs, … for properties in the Shawnee County Judicial Tax Foreclosure Sale.




Me. Stat. tit. 38 § 1257 – Casetext


Read Section 1257 – [Repealed] Waiver of sewer district lien foreclosure (REPEALED), Me. Stat. tit. 38 § 1257, see flags on bad law, …




RS 9:4422 – Obligations secured by mortgages or privileges; signatures and writings …

Justia US Law

The following shall apply when foreclosure by executory process is instituted by the transferee, assignee, or pledgee of any promissory note, …




Foreclosure Investing For Dummies, Book by Joseph Kraynak (Paperback) – Chapters Indigo

Chapters Indigo

Check out Foreclosure Investing For Dummies, which will get you started buying foreclosed properties to turn into your own income property!






DATE ELIGIBLE FOR FORECLOSURE: 4/1/2023. This is not for the deed of the property. If you have found my process simple and helpful, …




AAA Foreclosure Resource (Real estate agency) – Spalding County, Georgia – Helpmecovid


Address of AAA Foreclosure Resource is 824 S Hill St #306, Griffin, GA 30224, USA. AAA Foreclosure Resource has quite many listed places around it and …






FRAUD STOPPERS Daily News Update ⋅ April 19, 2022


NYPD: Group Zip-Ties, Duck-Tapes Victims During Home Invasion, Escape With Safe

NBC New York

NYPD Crime Stoppers say these are the individuals who were involved in the Bronx home … Promoted By New York Alliance Against Insurance Fraud …




NYPD: NYC Man Sought for Rape of Twin Toddlers in PA, Assault on Cops in Manhattan

NBC New York

… to call the NYPD’s Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782). … Fraud: The Crime You Pay For …




N.B. RCMP warn businesses in Greater Moncton area of credit card fraud following 2 incidents

CTV News Atlantic

Anyone with information about the incidents is asked to contact the Codiac Regional RCMP at 506-857-2400 or Crime Stoppers at 1-800-222-TIPS (8477).




Charges laid in fraudulent home-security business scam – City of Calgary Newsroom

City of Calgary Newsroom

Charges laid in fraudulent home-security business scam … Tips can also be left anonymously by contacting Crime Stoppers using any of the …




Two Shot in Northwest Baltimore – Shore News Network

Shore News Network

… please call Northwest District detectives at 410-396-2466 or Metro Crime Stoppers at 1-866-7Lockup. … Buffalo Man Convicted of Welfare Fraud.





Who Owns Your Mortgage Note?

Have you ever asked who owns your mortgage note? A better question to ask is, “If I paid off my mortgage loan tomorrow, would I get clear and equitable title to my real property?” If your mortgage loan contract was converted into a mortgage backed security and sold to an investment trust on Wall Street you might not!

If you are thinking of applying for a loan modification, or refinancing through the Home Affordable Refinance Program (HARP), Home Affordable Modification Program (HAMP), or other program(s) under the Making Home Affordable (MHA) initiative there are a few things to consider.

First, remember that the entity who claims to own your mortgage loan is not automatically the same entity that may be servicing your mortgage loan. A loan servicer is a debt collections company that sends you mortgage statements, takes your payments each month, and if you have an escrow account, pays your homeowner’s insurance and property tax bills. But who really owns your mortgage loan?

If you want to find out here are a few things you can do:

  • Ask the servicer. Your loan servicer is legally obligated to tell you the name, address, and telephone number of the owner of your loan as shown in their records. It’s a good idea to ask them in writing officially with a “Qualified Written Request” via certified mail while keeping a log of your communications. The name of your servicer should be on your mortgage statement, but you can also use the MERS link below.
  • Original lender. Your loan may have never been sold, and still kept as a “portfolio loan” with the original lender. That’s the way loans used to be done!
  • Fannie Mae. In reality, many loans are sold to FNMA aka “Fannie Mae”. See Fannie Mae loan lookup tool.
  • Freddie Mac. Similar story with Federal Home Loan Mortgage Corporation (FHLMC) aka “Freddie Mac”. See Freddie Mac loan lookup tool.
  • Mortgage Electronic Registration Systems, Inc. (MERS) is a big online registry designed to replace the costly process of publicly recording mortgage ownership at the local government level with a private electronic version that allows the swapping of mortgages with no friction at all. MERS tracks both the servicing rights and ownership of mortgage loans in the United States, although the accuracy has been called into question. See MERS ServiceID lookup tool. You can also call them at 888-679-6377 FREE.
  • Search the Securities and Exchange Commission (SEC) for the alleged trust that claims they are the owner of your mortgage loan:
  • Register for a Free Mortgage Fraud Analysis and Securitization Search. Complete our Mortgage Fraud Analysis form and we will conduct a free securitization check to see if your mortgage loan contract was converted into a mortgage backed security and who really owns your note. If your loan was securitized than you may have legal standing to sue your lender, or current loan servicer, for mortgage fraud and quiet title. Find out more by completing our Mortgage Fraud Analysis form or call us at 773-877-3655 and we will help you get the facts and evidence you need to get the legal remedy you deserve.

Cases like the Glaski v. Bank of America and Jesinoski v. Countrywide Home Loans may have provided hope for homeowners who were victims of mortgage and foreclosure fraud. But they did not strike at the heart of the real problem behind the securitization of millions of mortgage loans.

The Glaski decision states that if some entity wants to collect on a debt they must first legally own that debt. Furthermore, if that entity is claiming ownership by way of an Assignment, it must prove that Assignment is legally valid.

The Jesinoski case addressed a borrower’s right to rescind, or cancel, their mortgage loan contract under the Truth in Lending Act (TILA) by only providing written notice to the lender, without filing suit. A loan is rescinded at the time the rescission letter is mailed. If the lender wants to refute or fight the rescission they must file an action to do so, and they have limited time to do so.

If your mortgage was securitized (the practice of pooling mortgages and selling their related cash flows to third party investors as securities) then it was part of a table funded transaction. In a table funded transaction the borrower named on the note is NOT in debt to the lender (“Pretender Lender”) because they signed the note in the capacity of an Accommodation Party, or co-signer for the purpose of incurring liability on the instrument without being a direct beneficiary of the value given for the instrument!

The broker, or originator, of the loan is pretending to loan money to the alleged “Borrower“, but in reality they trick the alleged “Borrower” into co-signing on a note that is pledged as collateral on a warehouse line of credit with the funding bank.

It is illegal for banks to loan credit, they can only loan money!

But if the Pretender Lender is not the entity putting up the funds, then there is no underlining indebtedness between the alleged “Borrower” and the originator who is named on the note. And if there is no underlining indebtedness between the parties named on the note, then the mortgage (or deed of trust) vaporizes into nothingness, and is legally unenforceable as a matter of law.

If your mortgage loan contract was part of a table funded transaction and converted into a mortgage backed security that was sold to an investment vehicle, or trust, on Wall Street, then you may have legal standing to rescind your mortgage loan contract, and sue your “Pretender Lender” for Special Damages equal to triple the original amount of your note, plus clear and equitable title to your home!

Fraud Stoppers is part of a National Private Members Association that provides back office litigation support to law firms, foreclosure defense advocacy groups, and pro se litigants nationwide. Our Private Members Association can help you sue your lender for mortgage fraud, with or without an attorney.

Then after our free mortgage fraud analysis is done, we can scheduled a free potential cause of action consultation to discuss your loan and lawsuit in detail and help you get started filing your state and federal lawsuit for the remedy that the law entitles you to, and that you deserve!

You can save 60% to 70% in legal fees when you get your lawsuit started yourself, Pro Se, (without an attorney), and then bring in a local attorney to help you at trial, where you need them the most! This way you can get the best of both worlds: Save money in legal fees, and get the professional help you need at the same time!

FRAUD STOPPERS Private Members Association (PMA) has a PROVEN WAY to help you save time and money, and increase your odds of success, suing the banks for mortgage and foreclosure fraud.

Our primary focus is helping you get clear and marketable title to your property by arguing that the actions of the banks have made the security provisions of the mortgage/deed of trust unenforceable as a matter of law.

Notice of Default and Paragraph 22 of the Standard Mortgage


Some think that there has been a dry spell for wins of homeowners beating the big banks. However the decision below shows otherwise and is very important for a couple of reasons. First it gives us more of a confirmed road map of how to make defenses in certain cases that have facts similar to this case…i.e. violations of Paragraph 22 of the mortgage, in regards to a notice of default (NOD), which we knew about but this decision emphasizes the importance of this type of defense. But also important…..Judge Gantz is back in full swing helping borrowers fight against illegal foreclosures. You will recall that he wrote the Freemont decisionIbanez, and others…but then he seemed to have lost some momentum. However, with this decision, Judge Gantz is back in full stride protecting us from the criminal banks and their illegal foreclosure practices.





NOTICE:  All slip opinions and orders are subject to formal revision and are superseded by the advance sheets and bound volumes of the Official Reports.  If you find a typographical error or other formal error, please notify the Reporter of Decisions, Supreme Judicial Court, John Adams Courthouse, 1 Pemberton Square, Suite 2500, Boston, MA, 02108-1750; (617) 557-1030; [email protected] SJC-12139



FEDERAL NATIONAL MORTGAGE ASSOCIATION  vs. ELVITRIA M. MARROQUIN & others.1 Essex.     January 9, 2017. – May 11, 2017. Present:  Gants, C.J., Lenk, Hines, Gaziano, Lowy, & Budd, JJ. Mortgage, Foreclosure, Real estate.  Real Property, Mortgage, Sale. Notice, Foreclosure of mortgage. Summary process.  Complaint filed in the Northeast Division of the Housing Court Department on June 18, 2012. The case was heard by David D. Kerman, J., on motions for summary judgment. The Supreme Judicial Court granted an application for direct appellate review. Cody J. Cocanig for the plaintiff. Dayne Lee (Eloise P. Lawrence also present) for Elvitria M. Marroquin. Joshua T. Gutierrez, Daniel D. Bahls, & Andrew S. Webman, for Lewis R. Fleischner & another, amici curiae, submitted a brief.

1 Julio E. Vasquez and Christopher Vasquez. GANTS, C.J.  In Pinti v. Emigrant Mtge. Co., 472 Mass. 226, 227, 232 (2015), we held that a foreclosure by statutory power of sale pursuant to G. L. c. 183, § 21, and G. L. c. 244, §§ 11- 17C, is invalid unless the notice of default strictly complies with paragraph 22 of the standard mortgage, which informs the mortgagor of, among other things, the action required to cure the default, and the right of the mortgagor to bring a court action to challenge the existence of a default or to present any defense to acceleration and foreclosure.

We applied this holding to the parties in Pinti but concluded that our decision “should be given prospective effect only.”  Id. at 243.  We therefore declared that the decision “will apply to mortgage foreclosure sales of properties that are the subject of a mortgage containing paragraph 22 or its equivalent and for which the notice of default required by paragraph 22 is sent after the date of this opinion,” which was issued on July 17, 2015.Id. We did not reach the question whether our holding should be applied to any case pending in the trial court or on appeal. Id. at 243 n.25.

We reach that question here, and conclude that the Pinti decision applies in any case where the issue was timely and fairly asserted in the trial court or on appeal before July 17, 2015.  Because we conclude that the defendants timely and fairly raised this issue in the Housing Court before that date, and because the notice of default did not strictly comply with the requirements in paragraph 22 of the mortgage, we affirm the judge’s ruling declaring the foreclosure sale void.

Background.  In December, 2005, the defendants2 secured a mortgage loan in the amount of $312,000 from American Mortgage Express Corporation (American Mortgage) and, as security for the loan, granted a mortgage on their home to Mortgage Electronic Registration Systems, Inc. (MERS), which American Mortgage had designated as the mortgagee in a nominee capacity. MERS subsequently assigned the mortgage to Bank of America, N.A. (Bank of America), as successor by merger to BAC Home Loans Servicing, LP, formerly known as Countrywide Home Loans Servicing, LP. After the defendants failed to make their mortgage payments, the loan servicer, Countrywide Home Loans Servicing, LP, on October 17, 2008, mailed the defendants a notice of intention to foreclose (notice of default). The notice informed the defendants that they were in default and set forth the amount due to cure the default. The notice warned in relevant part:

2 The mortgage loan was secured by the defendants Elvitria M. Marroquin and Julio E. Vasquez. The limited record before us suggests that Christopher Vasquez is Marroquin’s son, and that a motion filed by the Federal National Mortgage Association to amend the summons and complaint to include him was granted by the Housing Court judge. For convenience, we refer to “the defendants” throughout this opinion.

“If the default is not cured on or before January 15, 2009, the mortgage payments will be accelerated with the full amount remaining accelerated and becoming due and payable in full, and foreclosure proceedings will be initiated at that time. As such, the failure to cure the default may result in the foreclosure and sale of your property. . . . You may, if required by law or your loan documents, have the right to cure the default after the acceleration of the mortgage payments and prior to the foreclosure sale of your property if all amounts past due are paid within the time permitted by law. . . .Further, you may have the right to bring a court action to assert the non-existence of a default or any other defense you may have to acceleration and foreclosure.”

The defendants did not cure the default, and in March, 2012, Bank of America gave notice and conducted a foreclosure sale by public auction of the mortgaged home.       Bank of America was the high bidder at the foreclosure auction and subsequently assigned its winning bid to the Federal National Mortgage Association (Fannie Mae or plaintiff), which properly recorded the foreclosure deed conveying title of the property in May, 2012.    On June 18, 2012, Fannie Mae initiated a summary process action in the Housing Court to evict the defendants from the property.  On June 19, 2012, the defendants, representing themselves but assisted by counsel, filed an answer in which, by checking a box, they proffered as a defense to the eviction that “[t]he plaintiff’s case should be dismissed because it does not have proper title to the property and therefore does not have standing to bring this action and/or cannot prove a superior right to possession of the premises.”

For reasons not apparent from the record, Fannie Mae did not move for summary judgment until June, 2015, where, among other arguments, it contended that Bank of America had complied with the terms of the mortgage in exercising the power of sale, and specifically asserted that the notice of default had complied with paragraph 22 of the mortgage.3 On September 23, 2015, the defendants filed a cross motion for summary judgment in which they argued that the notice of default failed to strictly comply with the terms of paragraph 22 of the mortgage and that the defendants should be entitled to the benefit of our decision in Pinti even though the notice of default was sent well before the issuance of that opinion. In October, 2015, the judge granted the defendants’ cross motion for summary judgment and denied the plaintiff’s motion.

3 Paragraph 22 of the mortgage provides that in the event the borrower commits a breach of any term of the mortgage, prior to acceleration of the loan the lender must notify the borrower of “(a) the default; (b) the action required to cure the default; (c) a date, not less than [thirty] days from the date the notice is given to [the defendants], by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by [the mortgage].”

Paragraph 22 further provides that such notice must inform the borrower “of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of the borrower to acceleration and sale.”   It also declares that, if the default is not timely cured, the lender “may invoke the statutory power of sale.”

The judge found that the issue in Pinti had been “timely and fairly raised,” and concluded that our decision in Pinti should apply to all cases similarly situated that were pending in the trial court or on appeal where the issue had been timely and fairly raised before July 17, 2015.   The judge also concluded that the notice of default failed to strictly comply with the requirement in paragraph 22 of the mortgage that the notice shall inform the borrower “of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of the borrower to acceleration and sale.”The judge found that, by stating, “You may, if required by law or your loan documents, have the right to cure the default after the acceleration of the mortgage payments and prior to the foreclosure sale of your property . . . ,” and “you may have the right to bring a court action to assert the non-existence of a default or any other defense you may have to acceleration and foreclosure” (emphasis added), the notice “significantly, and inexcusably, differed from, watered. . . down, and overshadowed the notice that was contractually and legally required by the mortgage.”   He added that “there was no excuse for the difference in language “and that it was impossible to imagine any purpose for drafting a notice that failed to track the language of the mortgage “unless, of course, the purpose was to discourage [b]orrowers from asserting their rights.”4 After the judge issued his decision, the Appeals Court held in Aurora Loan Servs., LLC v. Murphy, 88 Mass. App. Ct. 726, 727

(2015), that the Pinti decision applies to cases pending on appeal where the claim that the notice of default failed to strictly comply with the notice provisions in the mortgage had been “raised and preserved” before the issuance of the decision. Although the issue was not before it, the Appeals Court declared that “the Pinti rule” did not extend to cases pending in the trial court.  Id. at 732.  Relying on this dictum, the plaintiff moved to vacate the judgment under Mass. R. Civ. P. 60 (b), 365 Mass. 828 (1974). The judge denied the motion, and the plaintiff appealed.  We allowed the defendants’ application for direct appellate review. Discussion.  1.  Application of the Pinti decision to pending cases.  Our decision in Pinti was grounded in the requirement in G. L. c. 183, § 21, that, before a mortgagee may

4 The judge analogized the warning in the notice of default to a Miranda warning that informed a suspect before interrogation: “You [may] have the right to remain silent.  If you give up the right [and if you have that right], anything you say or do [may] can and will be used against you in a court of law. You [may] have the right to an attorney. If you cannot afford an attorney [and if you have that right], one [may] will be appointed for you. Do you understand these rights as they have been read to you?”

exercise the power of sale in a foreclosure, it must “first comply[] with the terms of the mortgage and with the statutes relating to the foreclosure of mortgages by the exercise of a power of sale.”Because the power of sale is a “substantial power” that permits a mortgagee to foreclose without judicial oversight, we followed the traditional and familiar rule that “‘one who sells under a power [of sale] must follow strictly its terms’; the failure to do so results in ‘no valid execution of the power, and the sale is wholly void.’” Pinti, 472 Mass. at 232-233, quoting U.S. Bank Nat’l Ass’n v. Ibanez, 458 Mass. 637, 646 (2011).  See Pryor v. Baker, 133 Mass. 459, 460 (1882) (“The exercise of a power to sell by a mortgagee is always carefully watched, and is to be exercised with careful regard to the interests of the mortgagor”).

Although it had long been established in law that the failure to strictly comply with the terms of a mortgage renders void an otherwise valid foreclosure sale, we gave our decision “prospective effect only, because the failure of a mortgagee to provide the mortgagor with the notice of default required by the mortgage is not a matter of record and, therefore, where there is a foreclosure sale in a title chain, ascertaining whether clear record title exists may not be possible.” Pinti, 472 Mass. at 243.  Our concern was that a third party who purchases property that had once been sold at a foreclosure auction would not, through a title search, be able to determine whether the notice of default strictly complied with the terms of the mortgage. It would therefore be nearly impossible to eliminate the risk that the foreclosure sale would later be declared void and that the title would be returned to the foreclosed property owner. See id. We presumed that, after our decision in Pinti, mortgagees “as a general matter” would address this uncertainty by executing and recording “an affidavit of compliance with the notice provisions of paragraph 22 that includes a copy of the notice that was sent to the mortgagor pursuant to that paragraph.” Id. at 244.

However, we applied our ruling to the parties in Pintiid. at 243, citing Eaton v. Federal Nat’l Mtge. Ass’n, 462 Mass. 569, 589 (2012), and deferred the question whether our holding “should be applied to any other class of cases pending on appeal.”    Id. at 243 n.25. In Galiastro v. Mortgage Elec. Registration Sys., Inc., 467 Mass. 160, 167-170 (2014), we addressed that same issue in a closely parallel context.     In Eaton, 462 Mass. at 571, we declared that a foreclosure by power of sale is invalid unless a foreclosing party holds the mortgage and also either holds the underlying note or acts on behalf of the note holder.

We applied this rule to the parties in Eaton, but otherwise gave the ruling prospective effect only.  Id.  In Galiastrosupra at 168, we extended the benefit of our decision in Eaton to litigants who had preserved this issue and whose cases were pending on appeal at the time that Eaton was decided. We declared that “[w]here multiple cases await appellate review on precisely the same question, it is inequitable for the case chosen as a vehicle to announce the court’s holding to be singled out as the ‘chance beneficiary’ of an otherwise prospective rule.”   Galiastrosupra at 167-168, citing United States v. Johnson, 457 U.S. 537, 555 n.16 (1982), and Commonwealth v. Pring-Wilson, 448 Mass. 718, 736 (2007).

Limiting the application of prospective rulings to such a “chance beneficiary” would mean that something as arbitrary as the speed at which a case is litigated might determine its outcome, as only the first case raising this issue to reach the Supreme Judicial Court would get the benefit of the ruling. It would also greatly diminish the “incentive to bring challenges to existing precedent” by depriving similarly situated litigants “of the benefit for the work and expense involved in challenging the old rule.”    Galiastrosupra at 169, quoting Powers Wilkinson, 399 Mass. 650, 664 (1987).

The same principles underlying our decision in Galiastro to extend the Eaton rule to cases pending on appeal cause us to extend the Pinti rule to cases pending in the trial court where the Pinti issue was timely and fairly raised before we issued our decision in Pinti.  In such cases, the homeowner-mortgagors are similarly situated to the plaintiffs in Pinti, because they presented the same arguments in the trial court that the Pinti plaintiffs presented to this court on appeal.  All that distinguishes the homeowners in Pinti from the homeowners in this case is the pace of the litigation.  The summary process complaint in this case was first filed in June, 2012; the complaint in Pinti seeking a judgment declaring that the foreclosure sale was void was filed in January, 2013.  If this case had proceeded to judgment more promptly in the Housing Court, this appeal, rather than Pinti, might have been the one that established the so-called Pinti rule.5

Having so ruled, we now consider whether the homeowner defendants in this case timely and fairly raised a Pinti defense before the issuance of our Pinti decision.  The judge found that they had, and we conclude that he was not clearly erroneous in so finding. We recognize that the defendants did not specifically allege that the mortgagee’s notice of default failed to strictly comply with the terms of paragraph 22 of the mortgage until they filed their cross motion for summary judgment on September 23,

5 We recognize that this ruling will increase the impact our Pinti decision may have on the validity of titles, but we expect the increase to be modest and that it will simply be part of the inherent “unevenness [that] is an inevitable consequence of any change in doctrine.” Galiastro v. Mortgage Elec. Registration Sys., Inc., 467 Mass. 160, 170 (2014), quoting Johnson Controls, Inc. v. Bowes, 381 Mass. 278, 283 n.4 (1980).

2015, more than two months after the issuance of our opinion in Pinti.  But more than three years before that opinion, in June, 2012, they filed an answer as self-represented litigants where they checked the box proffering as a defense to the eviction that the plaintiff did not have “superior right to possession of the premises.”6 We need not consider whether the assertion of this affirmative defense alone was sufficient to give fair notice of a Pinti defense, because it is apparent from the plaintiff’s memorandum in support of its motion for summary judgment, which was filed one month before the issuance of our Pinti decision, that the plaintiff recognized that the defendants had alleged that the notice of default failed to comply with the terms of paragraph 22 of the mortgage. In that memorandum, the plaintiff argued that it had complied with the requirements of paragraph 22 and that it would be “irrational and fundamentally unfair” to declare the foreclosure proceeding void because of the purported minor differences between the language of the notice of default and that of the mortgage.

6 The full text of the defense, marked box no. 67 on the answer, states:”The plaintiff’s case should be dismissed because it does not have proper title to the property and therefore does not have standing to bring this action and/or cannot prove a superior right to possession of the premises. Wayne Inv. Corp. v. Abbott, 350 Mass. 775 (1966) (title defects can be raised as defense in summary process); G. L.239, § 1 (summary process available to plaintiff only if foreclosure carried out according to law).

“Where the plaintiff recognized that the defendants had raised the Pinti issue as a defense before our Pinti decision, the judge did not err in finding that the defendants fairly and timely raised the issue and therefore were entitled to the benefit of the Pinti decision.

Obligation of strict compliance. Having determined that the defendants are entitled to the benefit of our holding in Pinti, we must now address whether the notice of default strictly complied with paragraph 22 of the mortgage. It did not. Once a borrower has defaulted on a mortgage, G. L. c. 183, 21, authorizes the mortgagee to foreclose and sell the premises, provided it “first compl[ies] with the terms of the mortgage and with the statutes relating to the foreclosure of mortgages by the exercise of the power of sale.” Pinti, 472 Mass. at 232, quoting G. L. c. 183, § 21.  As we explained in Pintisupra at 236, “the ‘terms of the mortgage’ with which strict compliance is required — both as a matter of common law under this court’s decisions and under § 21 — include not only the provisions in paragraph 22 relating to the foreclosure sale itself, but also the provisions requiring and prescribing the preforeclosure notice of default” (footnote omitted). See Foster, Hall & Adams Co. v. Sayles, 213 Mass. 319, 322-324 (1913).

The notice of default in this case communicated much of what paragraph 22 requires but fell short in several crucial respects.  Paragraph 22 requires that the notice “inform [the borrower] of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of [the borrower] to acceleration of sale.” Despite this language in the plaintiff’s own uniform mortgage instrument, the notice declared that the borrower “may, if required by law or [the borrower’s] loan documents, have the right to cure the default after the acceleration of the mortgage payments and prior to the foreclosure sale of [the borrower’s] property if all amounts past due are paid within the time permitted by law” (emphasis added). Similarly, the notice declared that the borrower “may have the right to bring a court action to assert the non-existence of a default or any other defense [the borrower] may have” (emphasis added).

We agree with the judge that this language in the notice “significantly, and inexcusably, differed from” the language in paragraph 22 of the mortgage, and “watered . . . down” the rights provided in that paragraph to the mortgagor homeowner. The phrase, “you may, if required by law or your loan documents, have the right to cure the default after acceleration,” suggests that the right to cure and reinstate is not available to every mortgagor, and that any such right is contingent upon the law or the provisions of other loan documents.  But paragraph 19 of the mortgage specifically grants a mortgagor the right to reinstatement after acceleration, and sets forth the steps required to do so.This phrase instead suggests that the homeowner may need to perform legal research and analysis to discern whether the right to cure and reinstate is available.

Similarly, rather than unequivocally inform the borrower of the right to bring a court action to attempt to prevent a foreclosure by asserting that there was no default or by invoking another defense, the notice of default stated that the borrower may have the right to bring such an action. Here, too, the implication is that the right is merely conditional, without specifying the conditions, and that the mortgagor may not have the right to file an action in court.

The defendant contends that it accurately informed borrowers that they “may have” the right to bring a court action because they would have no such right if their court action lacked a good faith basis. But neither paragraph 22 of the mortgage nor the notice identified a bad faith exception to this right and we cannot reasonably infer that a borrower would understand that the “may have” language referenced such an exception.7

7 Because we find that the notice of default was not in strict compliance with paragraph 22, we need not address the We agree with the judge that, because the Pinti decision applies to this case and because the notice of default did not strictly comply with the requirements of paragraph 22 of the mortgage, the foreclosure sale is void.

Conclusion.  The allowance of the defendants’ cross motion for summary judgment, as well as the denials of the plaintiff’s motions for summary judgment and for relief from judgment, are affirmed.

So ordered.

defendants’ contention that the plaintiff waived its argument that the notice was in strict compliance when it conceded that it was only in substantial compliance in the memorandum in support of its motion for summary judgment and at the hearing in the Housing Court.

Facts About Bad Mortgage Loans

How significant a risk is noncompliance with consumer protection laws?

The mortgage industry is struggling to comply with consumer protection laws. A remarkable report published by the FDIC Office of the Inspector General reveals that during 2005 (which was the peak year of the mortgage boom measured by number of loans originated), 83% of federally supervised banks that made loans were cited for patterns of "significant compliance violations." The percentage was presumably higher for state-licensed, non-depository lenders who were responsible for originating 52% of subprime mortgages and are subject to a much broader patchwork of state regulation. Violations of consumer protection laws can result in rescission (effectively canceling the loan), defense against foreclosure, fines, penalties and (both civil and criminal) damages that can exceed the original principal balance of the loan.

You may download the report (Report Number 06-024) from the FDIC website. There are also additional reputational risks associated with charges of predatory and discriminatory lending. Investors - including anyone in the chain of title for whole loans and the securitization trust for securities - can be liable, even though the violator waste broker or originating lender. In other words, the investor can be held liable and suffer damages for actions outside its control and for which had no knowledge. What consumer protection laws does FRAUD STOPPERS PMA cover and how are these compliance requirements applied to a mortgage loan?

FRAUD STOPPERS PMA provides a comprehensive analyzes of electronic loan data to determine whether a mortgage transaction complies with over 300 federal and state consumer protection laws related to mortgage lending. Specifically, FRAUD STOPPERS PMA automated mortgage compliance audits reviews mortgage loans for compliance with the following consumer credit issues: truth-in-lending disclosures, usury, predatory lending, impermissible fees, interest rate accrual restrictions (such as negative amortization and balloons payments) and prepayment penalty enforceability.

It is important to understand that any number of laws may apply to a particular mortgage transaction. Knowing which laws apply is not a simple task, since it depends on how the lender is licensed or chartered. Licensed lenders operate under the licensing authorities of the various states with which they do business. Most states have multiple licenses granting lenders the authority to make loans. Each such license imposes different substantive requirements governing loan terms. For instance, certain licenses allow subordinate lien loans while others govern loans with higher interest rates.

In some states, more than one license may authorize lenders to make the same loan, although subtle differences in the consumer protection requirements apply to the loan terms. FRAUD STOPPERS PMA determines if lenders and brokers are properly licensed (and in good standing) or exempt, and then applies the correct laws based on that licensing status. It does this by leveraging its proprietary nationwide licensing database, described in the License Verification and Monitoring section of this site.

Chartered financial institutions—such as state and national banks and federal savings banks—are subject to different regulatory requirements. For instance, most chartered institutions “export” interest rates from their home state to the target state in which the loan is made. This results in a complex synthesis of both the home state’s and target state’s consumer protection laws —an analysis that is difficult to perform efficiently without automation. Likewise, chartered institutions may in certain cases preempt states laws and in other instances must observe them. Again, FRAUD STOPPERS PMA bases its reviews on how an institution is chartered and what permissible regulatory elections it is making.

Once the lender’s license or charter authority is known, as well as its elections, the review must consider the specific transaction terms—such as the APR, interest rate, loan balance, lien position, occupancy type, etc.—to determine which out of the several laws that might apply to the lender govern a particular mortgage loan. No other automated compliance solution provides this degree of detail and precision to its analysis, and this is the reason no other provider equals FRAUD STOPPERS PMA in quality.



Scope of the FRAUD STOPPERS Bloomberg Securitization Audit

FRAUD STOPPERS Evaluation for Violations of “RESPA” The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. It requires lenders to give a good faith estimate (GFE) of all closing costs that borrowers must pay. It was designed to help borrowers from being forced to pay “hidden fees” at closing. Typical violations of RESPA include (1) Statutory Damages, (2) Attorney’s fees, and in many cases (3) Treble Damages [i.e., 3 times the amount.]

FRAUD STOPPERS Evaluation for Violations of “TILA” The Truth in Lending Act (TILA) requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate, and the number, amount, and due dates of all payments necessary to repay the loan. The TILA also requires additional disclosures and places many restrictions on mortgages. The most often sought remedy under TILA is rescission of the loan.

FRAUD STOPPERS Evaluation for Violations of “FCRA” The Fair Credit Reporting Act (FCRA) was designed to prevent inaccurate or obsolete information from entering or remaining on a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining, and disseminating information. Commons remedies for violating FCRA are (1) statutory damages and (2) Attorney fees

FRAUD STOPPERS Evaluation for Violations of “ECOA” The Equal Credit Opportunity Act (ECOA) was designed to ensure that all qualified people have access to credit and prohibits discrimination based on sex, marital status, age, race, national origin, or public assistance benefits received.

FRAUD STOPPERS Evaluation for Violations of “HOEPA” Home Ownership Equity Protection Act state and local high costs. Federal (HOEPA), state and local high-cost thresholds.

FRAUD STOPPERS compares the loan data collected during a forensic loan audit to the calculated high-cost thresholds as defined by the Home Ownership and Equity Protection Act (HOEPA) and applicable state and local jurisdictions.

FRAUD STOPPERS Evaluation for Violations of “Underwriting Standards” The purpose of an underwriter is to determine whether the borrowers can qualify for a loan and if the borrowers can repay the loan. This determination of the ability to repay a loan is based upon employment and income in large measure, which is proved by getting pay stubs, 1040’s, W-2’s and a Verification of Employment and Income on the borrowers.

If an underwriter has evaluated the loan properly, then there should be no question of the ability of the borrower to repay the loan. Debt ratios will have been evaluated, credit reviewed, and a proper determination of risk made in relation to the loan amount. Approvals and denials would be made based upon a realistic likelihood of repayment.

The terms “abusive lending” or “predatory lending” are most frequently defined by reference to a variety of lending practices. Although it is generally necessary to consider the totality of the circumstances to assess whether a loan is predatory, a fundamental characteristic of predatory lending is the aggressive marketing of credit to prospective borrowers who simply cannot afford the credit on the terms being offered. While such disregard of basic principles of loan underwriting lies at the heart of predatory lending, a variety of other practices may also accompany the marketing of such credit.


Targeting inappropriate or excessively expensive credit products to older borrowers, or to persons who are not financially sophisticated or who may be otherwise vulnerable to abusive practices, and to persons who could qualify for mainstream credit products and terms

Loan Flipping & Equity Stripping

Repeated refinancing of borrowers into loans that have no tangible benefit to the borrower. Can be the same lender or different ones. Loans and refinances whereby equity is removed from the home through repeated refinances, consolidation of short-term debt into long term debt, negative amortization, or interest only loans whereby payments are not reducing principle, high fees and interest rates. Eventually, borrower cannot refinance due to lack of equity.

High Debt Ratios

This is the practice of approving loans with high debt ratios, usually50% or more, without determining the true ability of the borrower to repay the loan. Can often be seen with Prime borrowers approved through the Automated Underwriting Systems.

High Loan to Value loans

Loans offered to a borrower having little or no equity in the home. Usually, adjustable-rate mortgages that the borrower will not be able to refinance out of when the rate adjusts due to lack of equity.

Fraudulently Caused to Execute Loan Documents

Adjustable-rate mortgage loan was an inter-temporal transaction on which Plaintiffs had only qualified at the initial teaser fixed rate and could not qualify for the loan once the interest rate terms change.

Deception, Fraud, Unconscionable

Is marketed in a way that fails to fully disclose all material terms. Includes any terms or provisions which are unfair, fraudulent, or unconscionable. Is marketed in whole or in part based on fraud, exaggeration, misrepresentation, or the concealment of a material fact. Includes interest only loans, adjustable-rate loans, negative amortization and HOEPA loans.

Stated or No Income/No Assets

Is based on a loan application that is inappropriate for the borrower. For instance, the use of a stated-income loan application from an employed individual who has or can obtain pay stubs, W-2 forms and tax returns.

Lack of Due Diligence in Underwriting

Is underwritten without due diligence by the party originating the loan. No realistic means test for determining the ability to repay the loan. Lack of documentation of income or assets, job verification. Usually with Stated Income or No documentation loans but can apply to full documentation loans.

Inappropriate Loan Programs

Is materially more expensive in terms of fees, charges and/or interest rates than alternative financing for which the borrower qualifies. Can include prime borrowers who are placed into subprime loans, negative or interest only loans. Loan terms whereby the borrower can never realistically repay the loan.

All claims and defenses the borrower may have against the mortgage lender, mortgage broker, or other party involved in the loan transaction.

FRAUD STOPPERS Evaluates Each File for Violations of “Common Law Principles”


Material facts include the terms of the loan, whether there is a prepayment penalty, or any other information which a reasonable borrower would want to know before accepting the loan. Did the broker or loan officer or anyone working for the broker or loan officer fail to disclose any material facts to the borrower?


Were any representations, statements, or comments, written or made by the loan officer, broker, notary or anyone else who contradicted the terms of the documents?


When a mortgage professional makes errors which a reasonably diligent mortgage professional would not have made, he or she may have made a negligent misrepresentation.


The note and its attachments are a contract. The broker must follow all the terms of the contract such as the way the interest is calculated, and the penalties it assesses. Were there any terms in the contract which the lender failed to follow?


And many, many, more…….

This is a court ready trial evidence audit & expert witness affidavit that you and your attorney can use to win your case. 


 Breaking News - What the Bank Does Not Want You to Know:

CONFIDENTIAL SETTLEMENT AFTER ORDER ON JUDGMENT inFlorida - CFLA Client Gets Huge Damage Award against JPMCB and WellsFargo for multiple fraudulent misrepresentations in loan documents and bylender[s] to homeowner[s]. The following is an exert from the Court's Orderin Florida. This case has reached CONFIDENTIAL SETTLEMENT andtherefore some information is redacted:

"Defendants JPMCB and Wells Fargo were involved in fraudulent recordeddocuments in violation of 15 USC §1611, and is entitled to damages forclouding title and to cure/Quiet Title. Plaintiffs are entitled to the reliefrequested herein to quiet title and for award of costs under FS §57.041"

Homeowner Quiets Title to Real Property in Florida Court and Liable forDamages for Fraudulently Recording Documents, Fraud, Misrepresentation


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