Mortgage Fraud Daily News Update ⋅ April 14, 2022
Robert Morgan surrenders $16.3 million to feds to settle mortgage fraud case - Buffalo News Buffalo News Robert C. Morgan didn’t just plead guilty to a felony related to mortgage fraud this week. The developer and landlord also signed papers … Robert Morgan pleads guilty to felony to end massive mortgage fraud case | Flipboard - Flipboard Full Coverage
Fake CPA who bought a new home using money he got through federal Covid-19 relief … CNN He pleaded guilty to federal fraud and money laundering charges last year in connection with a scheme in which he filed a litany of phony loan … Arizona man in $3.5M pandemic mortgage fraud case will get 4 years - Investidollar - Investidollar - Full Coverage
St. Louis man sentenced in coronavirus aid fraud scheme - Times Union Times Union He also was paid a fee for helping other people file 23 fraudulent loan applications for the aid money. Williams received the loans despite having …
Former Bank Employee Admits Role in Fraud Scheme | USAO-CT | Department of Justice Department of Justice Between late 2018 and early 2020, as a mortgage development officer at Santander Bank, Fitzgerald-Williams searched bank records for older …
Brett Favre Scandal: Alleged $8 Million Welfare Scam, Explained - Forbes Forbes Former Green Bay Packers Quarterback and Hall of Famer Brett Favre has been accused of using his “special access” to former Mississippi Gov.
Mortgage application defects shrank in 3Q last year National Mortgage News Critical defects on mortgage applications submitted in the third quarter last … National Mortgage News Logo … Originations Fraud Underwriting.
Former executive gets prison for $1 billion solar fraud - Times Union Times Union SACRAMENTO, Calif. (AP) —. A former energy executive in California who took part in $1 billion solar power fraud that bilked Warren Buffett’s …
Global Mortgage Application Fraud Market Size, Analytical Overview, Growth Factors … Political Beef The Mortgage Application Fraud market report offers a deep dive assessment of the major trends influencing the expansion trajectory of Mortgage …
Attorney General Bonta Highlights California Mortgage Relief Program, Urges Struggling … California Department of Justice - CA.gov The program will cover past due mortgage payments or reverse mortgage … If you believe you have been the victim of fraud related to the … Beware of these reverse mortgage scams - Archyworldys - Archyworldys Full Coverage
South Dakota Enacts Provisions Regarding Mortgage Lender Remote Employees - JD Supra JD Supra The Governor recently signed into law certain provisions for remote employees of South Dakota mortgage lender, mortgage brokerage, …
Watch Out For These 4 Bitcoin Scams - Forbes Forbes When it comes to Bitcoin fraud, the strengths of cryptocurrency are … Mortgage Interest Rates Forecast: Will Rates Continue To Rise In 2022?
Edwin and Lorraine McLaren ran legal bill of almost £1.5million | The Gazette The Gazette … in a mortgage scam ran up a legal aid bill of almost £1.5million, … Edwin McLaren and his wife Lorraine were both convicted of fraud after a …
Calif. Mortgage Relief Program Offers $80K Maximum: Webinar Offers Details - Times of San Diego Times of San Diego The program will help homeowners make past-due housing payments — to a maximum of $80000 per household — by making a one-time direct payment to …
Feds: Former CT bank employee pleads guilty in fraud scheme - Middletown Press Middletown Press He pleaded guilty to conspiracy to commit bank fraud. … working as mortgage development officer at a Santander Bank branch, prosecutors said.
Mark Meadows Removed From North Carolina Voter Registration Amid Election Fraud Investigation Forbes North Carolina investigators are probing allegations the former White House chief of staff registered to vote at a mobile home he never owned in …
CFPB Changes To In-House Proceedings Stoke Industry Alarm - Law360 Law360 … Bankers Association, Mortgage Bankers Association and U.S. Chamber of Commerce. … 4Trade Financier Gets 12 Years For $129M Loan Fraud …
City of New York to Stop Business with Wells Fargo over Discrimination Reports - Banking Exchange Banking Exchange … Banking Software Market to Grow by $3B by 2025, Research Finds · Six Former Bank Employees Banned over Covid Loan Fraud · back to top …
City of New York to Stop Business with Wells Fargo over Discrimination Reports - Banking Exchange Banking Exchange … Banking Software Market to Grow by $3B by 2025, Research Finds · Six Former Bank Employees Banned over Covid Loan Fraud. Now Rs 1,245 crore mortgage fraud from IDBI Financial institution - Real Media Point - Real Media Point Full Coverage
Attorney General Bonta Highlights California Mortgage Relief Program, Urges Struggling … Sierra Sun Times If you believe you have been the victim of fraud related to the California Mortgage Relief Program, please report it to the Attorney General’s …
MBA Lowers Mortgage Outlook Through 2023 | Credit Union Times Credit Union Times MBA chief economist Mike Fratantoni said mortgage rates have risen by more than 1.5 … Feds Accuse Auto Dealer of Credit Union Car Loan Fraud.
Former executive gets prison for $1 billion solar fraud - KTAR.com KTAR News … Barrett Financial Group. Here’s what you need to know and consider when refinancing your mortgage.
Med associations sue over ‘No Surprises’ billing law | RochesterFirst RochesterFirst Developer Bob Morgan pleads guilty to mortgage fraud · Emergency crews on scene of serious fire in Ogden · New York State budget offers property …
Penfield boys lacrosse wins back-and-forth affair | RochesterFirst RochesterFirst Developer Bob Morgan pleads guilty to mortgage fraud · Man injured after shooting on Exchange St. in Rochester …
Former Thousand Oaks man arrested on fraud charges | Pacific Coast Business Times Pacific Coast Business Times Former Thousand Oaks man arrested on fraud charges. Share. IN THIS ARTICLE … PennyMac lays off workers as mortgage boom fades. Popular articles.
RBB President and CEO Resigns After Internal Investigation - Banking Exchange Banking Exchange … for meeting and exceeding our customers’ high standards for satisfying their loan, deposit, banking services, and other financial needs.
US long-term mortgage rates rise; 30-year loan reaches 5% - San Antonio Express-News San Antonio Express-News A herd of Red Sheep are seen in 2016 at the White Cross Ranch in Kerr · Couple sue broker for fraud over sale of Hill Country ranch · Gregg Popovich …
Civics class, community service for voting fraud suspects - Cleveland 19 News Cleveland 19 News Civics class, community service for voting fraud suspects … 19 Investigates helps Lorain County woman who says her mortgage company used her …
Civics class, community service for voting fraud suspects - Times Union Times Union THE VILLAGES, Fla. (AP) — Two men from a sprawling retirement community in Florida will…
Georgia Gov. Kemp signs bill easing gun laws amid primary | RochesterFirst RochesterFirst Rochester developer Bob Morgan pleads guilty to mortgage … New York State budget offers property tax rebate · Emergency crews on scene of serious …
Court reopens $1.32m fraud case against Kano APC guber aspirant - The Guardian Nigeria News The Guardian Nigeria News Court of Appeal sitting in Kano State, yesterday, set aside the judgment of the Federal High Court, which discharged and acquitted.
Silicon Valley couple to be sentenced in college bribes scam - Times Union Times Union … both abruptly pleaded guilty in January — six weeks before they were to go on trial — to money laundering and mail fraud conspiracy charges.
More than $2.6M lost to cryptocurrency frauds in less than four months: RCMP - CTV News CTV News Yellen calls for crypto regulation to reduce risks, fraud … does the interest rate hike mean for Canadians looking for mortgage adjustments?
Big bank profits decline as deal-making, mortgages slow - San Antonio Express-News San Antonio Express-News A herd of Red Sheep are seen in 2016 at the White Cross Ranch in Kerr · Couple sue broker for fraud over sale of Hill Country ranch · San Antonio …
Gen Z scams rise, a problem for their banks | American Banker American Banker The Buffalo, New York, bank is tweaking its loan mix and reducing some deposits in interest-bearing accounts. It says the moves should boost its net …
Woman hospitalized after Cedarwood Terrace shooting, homes struck by gunfire | RochesterFirst RochesterFirst Trending Stories · New York Lt. Gov. Benjamin arrested · Developer Bob Morgan pleads guilty to mortgage fraud · Rochester high school student wanted for …
March sees drop in remortgage instructions - Mortgage Finance Gazette Mortgage Finance Gazette The survey by the conveyancing firm says 46% of borrowers increased their loan sizes in March, with average monthly payments lifting by £224.
Prices jumping from shelf to register: Experts talk inflation, supply chain | RochesterFirst RochesterFirst Developer Bob Morgan pleads guilty to mortgage fraud · Syracuse man goes on night crime spree · China used ‘Real Housewives’ star, …
Ecology names new chief exec as Paul Ellis steps down - Mortgage Finance Gazette Mortgage Finance Gazette Ecology Building Society has appointed Gareth Griffiths as its new chief executive, succeeding Paul Ellis, who is stepping down after more than 40 …
Douglasville Mother, Son Convicted For Fraud, Identity Theft: DOJ - Patch Patch Douglasville Mother, Son Convicted For Fraud, Identity Theft: DOJ - Douglasville, GA - When small-town police saw a Douglasville woman shuttling …
UK house prices increase 10.9% from February 2021 - Mortgage Finance Gazette Mortgage Finance Gazette Between January and February 2022, UK transactions increased by 4.4% on a seasonally adjusted basis. SPF Private Clients managing director of mortgage …
3 Charged In Shoplifting, Credit Card Fraud After Brick Arrests - Patch Patch 3 Charged In Shoplifting, Credit Card Fraud After Brick Arrests - Brick, NJ - Police say 3 men stole credit cards, used them to buy gift cards …
Wells Fargo profit beats as lower costs blunt hit from weak mortgage lending - Yahoo Finance Yahoo Finance Mortgage loans, however, fell 33% from a year ago on lower originations as the Federal Reserve raised interest rates to tame soaring inflation.
Long-term mortgage rate reaches 5% - Orange County Register Orange County Register | UPDATED: April 14, 2022 at 9:40 a.m.. Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for …
Enterprise Security Concerns Drive Global Demand for Fraud Detection … - Yahoo Finance Yahoo Finance Frost & Sullivan’s recent analysis finds that enterprises’ increasing need to detect and prevent fraudulent activities on the internet is …
Former executive gets prison for $1 billion solar fraud | Miami Herald Miami Herald A former energy executive in California who took part in $1 billion solar power fraud that bilked Warren Buffett’s company and many others has …
Mortgage demand lifts despite spike in living costs: BoE Mortgage Finance Gazette Demand for secured lending for house purchases lifted in the first quarter of the year and is expected to jump over the next three months, … CBI books textile main S Kumars in Rs 1,245 crore mortgage fraud case - - instagramvideodownloadonline.in CBI books textile main S Kumars in Rs 1,245 crore mortgage fraud case - East Tip - East Tip Full Coverage
Good Morning, Buffalo: Hochul ‘honeymoon’ crashes following lieutenant governor’s resignation Buffalo News Robert Morgan pleads guilty to felony to end mortgage fraud case: The developer was 60 when the news broke in 2017 that federal agents were …
Civics class, community service for voting fraud suspects - KTAR.com KTAR News Civics class, community service for voting fraud suspects … Here’s what you need to know and consider when refinancing your mortgage.
Feds Charge Cupertino Pair With Visa Fraud - SFGATE SFGATE By Bay City News. Two executives in a Santa Clara County tech company were charged with visa fraud Tuesday in federal court in San Jose.
Civil servants charged more than $600K in personal spending on NL government credit cards - CBC CBC A fraud expert in Ontario says not contacting the police sends the wrong message to the rest of the public work force.
“How can we commit mortgage fraud “ asks this highly qualified buyer : r/REBubble - Reddit Reddit Here is the text for when deletes his message. ——-. Buying our first houses. Hello, me and my wife are looking at buying our first house/apartment …
CBI books textiles main S Kumars in Rs 1245 crore mortgage fraud, Retail Information, ET Retail News Nation India 229 Covid-19 CBI books textiles major S Kumars in Rs 1,245 crore loan fraud The CBI has booked textiles main S Kumars Nationwide Restricted (SKNL) and 14 …
CBI books textile main S Kumars in Rs 1,245 crore mortgage fraud case - The Alike The Alike The CBI has booked textiles main S Kumars Nationwide Limited (SKNL) and 14 others together with its promoters and administrators for an alleged …
The growing threat of phishing attacks on the mortgage industry | #emailsecurity | #ransomware NATIONAL CYBER SECURITY NEWS TODAY Loan officers and mortgage executives alike continue to click on links in … Adam Chaudhary, president at FundingShield, a fraud preventions …
CBI books textile main S Kumars in Rs 1,245 crore mortgage fraud case - The Tech Agents The Tech Agents CBI books textile main S Kumars in Rs 1,245 crore mortgage fraud case. April 13, 2022 by thetechagents_aowv6d. The CBI has booked textiles main S …
Seattle Times: «Arizona man in $3.5M pandemic loan fraud case gets 4 years» - Related news Newstral.com An Arizona man faces four years in prison after pleading guilty to falsely claiming non-existent employees and business revenues when applying for …
Foreclosure Daily News Update ⋅ April 14, 2022
Has Your Home Gone Through Foreclosure? Get It Right With the IRS Before Tax Season Ends The Motley Fool The Internal Revenue Service treats foreclosure like any other property sale. If you’re personally liable for any part of the mortgage debt that’s …
South Florida mall up for auction after owner loses foreclosure judgment - The Business Journals The Business Journals The Broward Mall in Plantation is slated for auction after its owner lost a $101.4 million foreclosure judgment. They Faced Foreclosure Not From Their Mortgage Lender, but From Their HOA - Omaha Daily Record Real Estate Archives - Dolan Connly, PC - Dolan Connly, PC Full Coverage
Tips for buying a foreclosed property - Real Estate Real Estate - Boston.com A foreclosed house with a red foreclosure stamp running along the top of the picture. For those who are up to the challenge, buying a foreclosed … Foreclosures on lake norman nc. Hide 55+ Community. LOT 44 Little Fork Cove Rd, Denver, NC … - chelagrotehnika.ru Jim - ingertelsa.com Homes for sale marshall county tn. TOP COMMERCIAL REAL ESTATE MARKETS. Find rural land … - 3S Group Full Coverage
FORECLOSURE - Sundance Times Sundance Times FORECLOSURE SALE NOTICE … THEREFORE Cascade Funding Mortgage Trust HB3, as the Mortgagee, will have the Mortgage foreclosed as by law provided … First - Collin County Foreclosure Notices - Collin County Foreclosure Notices Full Coverage
Seniors forced to move after personal care facility foreclosure - 11Alive.com 11Alive.com Hollander Senior Living was given until the end of April to vacate property due to foreclosure, however the notice caught many residents by …
Joe Sitt loses West Side retail space to foreclosure - The Real Deal The Real Deal Joe Sitt’s Thor Equities lost a Row NYC Hotel retail condo to lender Paramount Group, eight years after paying $64 million for it.
MORTGAGE FORECLOSURE SALE | Public Notices | therandolphleader.com Randolph Leader MORTGAGE FORECLOSURE SALE. Default having been made in the payment of the indebtedness secured by that certain mortgage executed by James A.
Suburban Cincinnati movie theater to be auctioned following foreclosure | WKRC - Local 12 Local 12 CINCINNATI (Cincinnati Business Courier) - A suburban Cincinnati movie theater is on the auction block after a foreclosure complaint in Hamilton …
19-111567 NOTICE OF MORTGAGE FORECLOSURE - Bemidji Pioneer The Bemidji Pioneer 19-111567 NOTICE OF MORTGAGE FORECLOSURE SALE THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED … NOTICE OF FORECLOSURE OF RIGHT OF REDEMPTION STATE OF GEORGIA COUNTY … - Douglas County Sentinel Full Coverage
Notice of Mortgage Foreclosure - Dennis Fussell | Legals | auburnvillager.com Auburn Villager NOTICE OF MORTGAGE FORECLOSURE. IN THE STATE OF ALABAMA, COUNTY OF LEE. DEFAULT having been made in the terms of that certain mortgage dated the …
Myrtle Beach-area mall accused of defaulting on $12.5 million loan, faces foreclosure Post and Courier A shopping mall located halfway between Myrtle Beach and North Myrtle Beach faces foreclosure after alleging defaulting on a $12.5 million …
Blue Ash’s Envision Cinemas on auction block following foreclosure - Cincinnati Business Courier The Business Journals A suburban Cincinnati movie theater is on the auction block after a foreclosure complaint in Hamilton County Common Pleas Court.
Walton County seniors forced to move after personal care facility foreclosure - YouTube YouTube Walton County seniors forced to move after personal care facility foreclosure … Residents at Hollander Senior Living Monroe with little notice. Show …
Upper West Side Townhouse to be Sold at Foreclosure Auction on April 27th prweb.com New York, NY (PRWEB) April 14, 2022 — A public foreclosure auction sale of an entire townhouse on the upper west side of Manhattan will take …
IRS can seize, sell homesteads despite state law exemption - El Paso Times El Paso Times Foreclosure of federal tax lien. When you owe taxes, the IRS will normally file a federal tax lien in the county of your residence. This lien is much … Magistrate Recommends Summary Judgment for Taxes, Lien Foreclosure - Tax Notes - Tax Notes Full Coverage
Derricos Face Foreclosure While Flipping Bill For High-End Vow Renewal? - TV Shows Ace TV Shows Ace In case you missed it, in October, the bank foreclosed on Deon and Karen Derrico’s home. The house is located in North Las Vegas, Nevada.
Fowler’s Avert Home Foreclosure | Totally INSPIRED Media INC | NewsBreak Original NewsBreak Original Great news, Brandon Fowler and his wife, Anna have found a lending institution to restructure their loan to save their home from foreclosure.
Legal Notices, April 14, 2022 - Selma Sun Selma Sun NOTICE OF FORECLOSURE SALE Default having been made in the payment of the indebtedness secured by that certain mortgage executed by Joseph Dylan … Foreclosure Notices - 1528 Balboa Ln Allen, TX 75002 - Collin County - Collin County Foreclosure Notices Stopping A Home Foreclosure In South Florida - Gary Handin - Gary Handin Full Coverage
Trio Busted in Cambria Heights Home Foreclosure Scam | The Forum Newsgroup The Forum Newsgroup Three men and their company have been indicted for their roles in a Cambria Heights home foreclosure scam, Queens District Attorney Melinda Katz …
Take Charge America Offers Arizona Residents Free Rent & Mortgage Counseling … - Business Wire Business Wire Arizonans facing foreclosure, eviction or struggling to pay their mortgage or rent can receive one-on-one housing counseling services from …
Hancock Circuit Court - The Daily Reporter - Greenfield Indiana The Daily Reporter PNC Bank, National ASsociation v. Sara Longworth, State of Indiana, mortgage foreclosure. April 7. Case in regards to the estate of James D. Woodcock.
In the courts: | News, Sports, Jobs - The Review In the courts: | News, Sports, Jobs - The Review David and Katrina Moore, et al., foreclosure sought for alleged delinquent taxes for property on Walnut Street, Rogers. County Treasurer vs.
Connecticut Public Notices - Norwich Bulletin Norwich Bulletin 176 Grove Avenue Groton LEGAL NOTICE FORECLOSURE AUCTION SALE Docket Number KNL-CV- 19-6039875-S DITECH FINANCIAL LLC vs. PENROSE, SR., JOSEPH A., …
DAILY LOG 4-13-22 | News | tahlequahdailypress.com Tahlequah Daily Press Bank of New York Mellon FKA TH v. Robert Randall Teague, Ronda Jean Teague and occupants of the premises - foreclosure. Small Claims. Sarah Thomas v.
Clark County Common Pleas Court cases - Springfield News Sun Clark County Common Pleas Court cases Clark County Treasurer, State of Ohio Department of Taxation, Don Quesenberry, Mary Quensenberry, Mary E. Quesenberry, foreclosure.
Williams County Courthouse, April 14, 2022 - The Crescent-News The Crescent-News Foreclosure. PennyMac Loan Services, LLC, Westlake Village, Calif., vs. Yoland Scott and unknown spouse, Montpelier; James Fuller, Dundee, …
Notice of Foreclosure… | Legals | douglas-budget.com Douglas Budget FORECLOSURE SALE NOTICE … as Trustee of the LB-Cabana Series IV Trust, as the Mortgagee, will have the Mortgage foreclosed as by law provided by … COMBINED NOTICE – PUBLICATION CRS §38-38-103 FORECLOSURE SALE NO. | Legal Services - Delta County Independent NOTICE OF FORECLOSURE OF RIGHT OF REDEMPTION STATE OF GEORGIA COUNTY … - Douglas County Sentinel Full Coverage
Baltimore City Launches Mortgage Assistance Program - Conduit Street Conduit Street - Maryland Association of Counties … to the COVID-19 pandemic whose homes are at risk of foreclosure. … who have faced similar economic hardship and may be facing foreclosure.”.
Eclectic pharmacy burglarized | News | thewetumpkaherald.com The Wetumpka Herald PUBLIC NOTICE NOTICE OF FORECLOSURE SALE Default having b… Wetumpka, AL.
River Valley Mall’s future unknown after sheriff’s sale withdrawn - Lancaster Eagle-Gazette Lancaster Eagle-Gazette A court ruled in January the mall could be foreclosed on. … the sale of all real estate subject to foreclosure on the “Official Public Sheriff’s …
Donations sought for Elmore County Disaster Relief Fund | News | thewetumpkaherald.com The Wetumpka Herald PUBLIC NOTICE MORTGAGE FORECLOSURE SALE. Default having b… Legal. AL 10304. PUBLIC NOTICE NOTICE OF FORECLOSURE SALE Default having b…
Public Notices - Columbia Star Columbia Star To be considered for any available Foreclosure Intervention, you may communicate with and otherwise deal with the Plaintiff through its law firm, … Residential Foreclosure Checklist (Statutory Power of Sale and Foreclosure by Entry) (MA) - Westlaw - Westlaw Full Coverage
Vacant homes and New York’s future - NY Daily News NY Daily News … since the foreclosure crisis in the wake of the Great Recession. … and secure while they complete the foreclosure process, or face fines.
Wash. Property Receiver Can’t Dodge Excise Tax, Dept. Says - Law360 Law360 A Washington taxpayer who was appointed the receiver of a foreclosed property … through an order of sale made by a judicial foreclosure action.
New Mexico swears in Shannon Bacon as chief justice - Times Union Times Union And she is active in efforts to improve eviction and foreclosure programs and reform the state’s guardianship and conservatorship.
Disbarred Atty Asks 9th Circ. To Scrap Calif. Bar’s $2M Bill - Law360 Law360 A bankrupt attorney who was disbarred for participating in a foreclosure rescue scam urged the Ninth Circuit Tuesday to find that he’s not …
Master’s Sales - Columbia Star Columbia Star … defaulting bidder(s) NOTICE: The foreclosure deed is not a warranty deed. … an independent title search prior to the foreclosure sale date.
Finally, Detroit’s Packard Plant Has Date with the Wrecking Ball - Autoweek Autoweek All 40 parcels of land are facing foreclosure, but a city attorney tells Autoweek that Palazuelo paid about $100,000 to redeem six of the 40 …
Austin office space is hot - The Real Deal The Real Deal Austin investor Nate Paul sues lender to stop foreclosure on office complex · Inside Austin’s luxury market · Carr signs on for Austin office …
COMPLETION | Legal Announcements | thewetumpkaherald.com The Wetumpka Herald PUBLIC NOTICE MORTGAGE FORECLOSURE SALE. Default having b…
New Mexico swears in Shannon Bacon as chief justice - The Middletown Press The Middletown Press And she is active in efforts to improve eviction and foreclosure programs and reform the state’s guardianship and conservatorship. Most Popular.
Myrtle Beach Mall facing lawsuits, unpaid property tax bills as redevelopment stalls Myrtle Beach Sun News Court filings show the mall has been battling breach of contract and foreclosure claims since 2021 for failing to repay insurance deductibles and …
2022 End of Session Wrap-Up: Housing and Community Development - Conduit Street Conduit Street - Maryland Association of Counties … that bolsters the efforts of local governments to address public and affordable housing, bight, foreclosure, and community development.
If an owner bought a condo at auction, can they rent it without the HOA’s approval? - Sun Sentinel Sun Sentinel Q: Our condominium has a foreclosed unit that was sold at auction. … If an apartment is bought through a foreclosure, can the purchaser rent the …
Split Oak verdict nears for controversial highway proposal - Orlando Sentinel Orlando Sentinel Deputy with credit card debt, foreclosure notice on home arrested. Advertisement. Advertisement. Transportation · News …
Fitch Upgrades FCI Lender Services, Inc. U.S. RMBS Servicer Rating - Fitch Ratings Fitch Ratings FCI is a California corporation founded in 1982 as Foreclosure Consultants, Inc., offering California foreclosure processing and loan servicing to …
UCF AD Terry Mohajir: Knights still working on exit from AAC - Orlando Sentinel Orlando Sentinel Deputy with credit card debt, foreclosure notice on home arrested. Advertisement. Advertisement. UCF Knights · Sports …
2 dead in Tuesday crash on Highway 17 Bypass in Myrtle Beach | WBTW WBTW What People Are Reading on wbtw.com · Docs: Myrtle Beach Mall faces foreclosure, owes taxes · Painter’s Homemade Ice Cream owners sue franchisee · 2 dead …
Warm weather continues through mid week | WBTW WBTW Docs: Myrtle Beach Mall faces foreclosure, owes taxes … Docs: Myrtle Beach Mall faces foreclosure, owes taxes …
Elon University / Today at Elon / Maya Eaglin ’19 earns national Gracie Award Elon University One such story – the sale of 272 slaves to save Georgetown University from foreclosure in 1838 – proved to be deeply personal for the Elon …
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Lim Bances Group, #1 Foreclosure Team - Facebook Facebook Lim Bances Group, #1 Foreclosure Team, Westfield, New Jersey. 632 likes · 14 talking about this · 156 were here. CEO of Lim Bances Group Empire …
Let Us Help Your Pre-foreclosure Situation - real estate - by owner… - craigslist craigslist Pre-foreclosure is a hard situation to deal with. You probably don’t know what to do or who to turn to in a hard time like this.
FRAUD STOPPERS Daily News Update ⋅ April 14, 2022
Deputies: Midlothian man wanted in connection to construction fraud in Hanover - NBC12 NBC12 Anyone with information is asked to call Crime Stoppers at 804-780-1000.
Civics class, community service for voting fraud suspects - WOWT WOWT Charles Barnes and Jay Ketcik, both from The Villages area, must perform 50 hours of community service each and get a grade of C or better in the …
Smoke Grenades at NYC Airfield Were Set Off by Teens, Not Subway Shooter: Sources NBC New York Police said a Crime Stoppers tip on Wednesday helped nab the alleged shooter — and law … Promoted By New York Alliance Against Insurance Fraud …
Feed the Force: South Central Kentucky Crime Stoppers hold fundraiser - News 40 - WNKY WNKY The South Central Kentucky Crime Stoppers held their second annual Feed … 41322 Pkg Tax Returns Stolen Social Security Number Tax Fraud Crime …
Crime Stoppers: Police hoping to identify individuals who robbed east Charlotte … - WBTV WBTV Crime Stoppers: Police hoping to identify individuals who robbed east … garnishes tax refund of woman who warned about unemployment fraud.
Mequon woman accused in scheme to defraud Hmong investors - CBS 58 CBS 58 Her husband, Chao Yang, 47, is charged as a secondary defendant for improperly receiving proceeds of the fraud. Investigators say the scheme …
What is the NYPD Crime Stoppers hotline? | News | albanyherald.com Albany Herald Crime Stoppers lists violent crimes that the NYPD is seeking tips for on its “Wanted Page,” which provides information including video, pictures, an …
Stealing and fraud, Gympie - Queensland Police News Queensland Police News Report crime information anonymously via Crime Stoppers. Call 1800 333 000 or report online at www.crimestoppersqld.com.au. Quote this reference …
Trump’s former chief of staff investigated for voter fraud | National | brenhambanner.com Brenham Banner-Press Chairman of Brenham Washington County Crime Stoppers held overnight in contempt of court for not releasing confidential tip information. brenhambanner …
Theft from LCBO | Crime Stoppers of Sault Ste Marie & Algoma District - YouTube YouTube Theft from the LCBOCrime Stoppers and the Sault Ste. Marie Police Service is requesting your assistance in identifying a suspect involved in …
Stealing and fraud at Gympie - The National Tribune Australia The National Tribune Australia Report crime information anonymously via Crime Stoppers. Call 1800 333 000 or report online at www.crimestoppersqld.com.au. Source.

 

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: https://fraudstoppers.org/how-to-search-the-sec-for-a-securitized-trust
• 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.

What is MERS?

What is MERS? MERS is the Mortgage Electronic Registration System and it is an electronic database that holds digitized mortgage loan documents. You can search the MERS Database here: The MERS Servicer ID to identify the servicer associated with a mortgage loan registered on the MERS System.

 

Bankers Association testified to THE FLORIDA SUPREME COURT (in CASE NO.: 09-1460) that the physical loan documents were deliberately destroyed to avoid any confusion upon their conversion to electronic files. CASE 09-1460 COMMENTS OF THE FLORIDA BANKERS ASSOCIATION

 

In other words, the Banksters deliberately destroyed the wet ink signature loan documents for millions of mortgages in MERS the Mortgage Electronic Registration System.

A Few Facts about MERS

1. Mortgage Electronic Registration Systems (MERS) is incorporated within the State of Delaware.
2. Mortgage Electronic Registration Systems (MERS) was first incorporated in Delaware in 1999.
3. The total number of shares of common stock authorized by MERS’ articles of incorporation is 1,000.
4. The total number of shares of Mortgage Electronic Registration Systems (MERS) common stock actually issued is 1,000.
5. Mortgage Electronic Registration Systems (MERS) is a wholly owned subsidiary of MERSCorp, Inc.
6. MERS’ principal place of business at 1595 Spring Hill Road, Suite 310, Vienna, Virginia 22182
7. MERS’ national data center is located in Plano, Texas.
8. MERS’ serves as a “nominee” of mortgages and deeds of trust recorded in all fifty states.
9. Over 50 million loans have been registered on the Mortgage Electronic Registration Systems (MERS) system. (UPDATE 9/11/2011: 70 MILLION American Mortgages)
10. MERS’ federal tax identification number is “541927784”.
11. Mortgage Electronic Registration Systems (MERS) does not take applications for, underwrite or negotiate mortgage loans.
12. Mortgage Electronic Registration Systems (MERS) does not make or originate mortgage loans to consumers.
13. Mortgage Electronic Registration Systems (MERS) does not extend any credit to consumers.
14. Mortgage Electronic Registration Systems (MERS) has no role in the origination or original funding of the mortgages or deeds of trust for which it serves as “nominee”.
15. Mortgage Electronic Registration Systems (MERS) does not service mortgage loans.
16. Mortgage Electronic Registration Systems (MERS) does not sell mortgage loans.
17. Mortgage Electronic Registration Systems (MERS) is not an investor who acquires mortgage loans on the secondary market.
18. Mortgage Electronic Registration Systems (MERS) does not ever receive or process mortgage applications.
19. Mortgage Electronic Registration Systems (MERS) simply holds mortgage liens in a nominee capacity and through its electronic registry, tracks changes in the ownership of mortgage loans and servicing rights related thereto.
20. MERS© System is not a vehicle for creating or transferring beneficial interests in mortgage loans.
21. Mortgage Electronic Registration Systems (MERS) is not named as a beneficiary of the alleged promissory note.
22. Mortgage Electronic Registration Systems (MERS) is never the owner of the promissory note for which it seeks foreclosure.
23. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the promissory note underlying the security instrument for which it serves as “nominee”.
24. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the loan instrument underlying the security instrument for which it serves as “nominee”
25. Mortgage Electronic Registration Systems (MERS) has no legal or beneficial interest in the mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
26. Mortgage Electronic Registration Systems (MERS) has no interest at all in the promissory note evidencing the mortgage indebtedness.
27. Mortgage Electronic Registration Systems (MERS)is not a party to the alleged mortgage indebtedness underlying the security instrument for which it serves as “nominee”.
28. Mortgage Electronic Registration Systems (MERS) has no financial or other interest in whether or not a mortgage loan is repaid.
29. Mortgage Electronic Registration Systems (MERS) is not the owner of the promissory note secured by the mortgage and has no rights to the payments made by the debtor on such promissory note.
30. Mortgage Electronic Registration Systems (MERS) does not make or acquire promissory notes or debt instruments of any nature and therefore cannot be said to be acquiring mortgage loans.
31. Mortgage Electronic Registration Systems (MERS) has no interest in the notes secured by mortgages or the mortgage servicing rights related thereto.
32. Mortgage Electronic Registration Systems (MERS) does not acquire any interest (legal or beneficial) in the loan instrument (i.e., the promissory note or other debt instrument).
33. Mortgage Electronic Registration Systems (MERS) has no rights whatsoever to any payments made on account of such mortgage loans, to any servicing rights related to such mortgage loans, or to any mortgaged properties securing such mortgage loans.
34. The note owner appoints MERS to be its agent to only hold the mortgage lien interest, not to hold any interest in the note.
35. Mortgage Electronic Registration Systems (MERS) does not hold any interest (legal or beneficial) in the promissory notes that are secured by such mortgages or in any servicing rights associated with the mortgage loan.
36. The debtor on the note owes no obligation to MERS and does not pay Mortgage Electronic Registration Systems (MERS)on the note.
37. Mortgage Electronic Registration Systems (MERS) is not entitled to receive any of the payments associated with the alleged mortgage indebtedness.
38. Mortgage Electronic Registration Systems (MERS) is not entitled to receive any of the interest revenue associated with mortgage indebtedness for which it serves as “nominee”.
39. Interest revenue related to the mortgage indebtedness for which Mortgage Electronic Registration Systems (MERS) serves as “nominee” is never reflected within MERS’ bookkeeping or accounting records nor does such interest influence MERS’ earnings.
40. Mortgage indebtedness for which Mortgage Electronic Registration Systems (MERS) serves as the serves as “nominee” is not reflected as an asset on MERS’ financial statements.
41. Failure to collect the outstanding balance of a mortgage loan will not result in an accounting loss by Mortgage Electronic Registration Systems (MERS).
42. When a foreclosure is completed, MERS never actually retains or enjoys the use of any of the proceeds from a sale of the foreclosed property, but rather would remit such proceeds to the true party at interest.
43. Mortgage Electronic Registration Systems (MERS) is not actually at risk as to the payment or nonpayment of the mortgages or deeds of trust for which it serves as “nominee”.
44. Mortgage Electronic Registration Systems (MERS) has no pecuniary interest in the promissory notes or the mortgage indebtedness for which it serves as “nominee”.
45. Mortgage Electronic Registration Systems (MERS) is not personally aggrieved by any alleged default of a promissory note for which it serves as “nominee”.
46. There exists no real controversy between MERS and any mortgagor alleged to be in default.
47. Mortgage Electronic Registration Systems (MERS) has never suffered any injury by arising out of any alleged default of a promissory note for which it serves as “nominee”.
48. Mortgage Electronic Registration Systems (MERS) holds the mortgage lien as nominee for the owner of the promissory note.
49. Mortgage Electronic Registration Systems (MERS), in a nominee capacity for lenders, merely acquires legal title to the security instrument (i.e., the deed of trust or mortgage that secures the loan).
50. Mortgage Electronic Registration Systems (MERS) simply holds legal title to mortgages and deeds of trust as a nominee for the owner of the promissory note.
51. Mortgage Electronic Registration Systems (MERS) immobilizes the mortgage lien while transfers of the promissory notes and servicing rights continue to occur.
52. The investor continues to own and hold the promissory note, but under the MERS® System, the servicing entity only holds contractual servicing rights and MERS holds legal title to the mortgage as nominee for the benefit of the investor (or owner and holder of the note) and not for itself.
53. In effect, the mortgage lien becomes immobilized by Mortgage Electronic Registration Systems (MERS) continuing to hold the mortgage lien when the note is sold from one investor to another via an endorsement and delivery of the note or the transfer of servicing rights from one Mortgage Electronic Registration Systems (MERS) member to another Mortgage Electronic Registration Systems (MERS) member via a purchase and sale agreement which is a non-recordable contract right.
54. Legal title to the mortgage or deed of trust remains in MERS after such transfers and is tracked by Mortgage Electronic Registration Systems (MERS) in its electronic registry.
55. Mortgage Electronic Registration Systems (MERS) holds legal title to the mortgage for the benefit of the owner of the note.
56. The beneficial interest in the mortgage (or person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note and/or servicing rights thereunder.
57. Mortgage Electronic Registration Systems (MERS) has no interest at all in the promissory note evidencing the mortgage loan.
58. Mortgage Electronic Registration Systems (MERS) does not acquire an interest in promissory notes or debt instruments of any nature.
59. The beneficial interest in the mortgage (or the person or entity whose interest is secured by the mortgage) runs to the owner and holder of the promissory note (NOT MERS).

MERS as Holder

60. Mortgage Electronic Registration Systems (MERS) is never the holder of a promissory note in the ordinary course of business.
61. Mortgage Electronic Registration Systems (MERS) is not a custodian of promissory notes underlying the security instrument for which it serves as “nominee”.
62. Mortgage Electronic Registration Systems (MERS) does not even maintain copies of promissory notes underlying the security instrument for which it serves as “nominee”.
63. Sometimes when an investor or servicer desires to foreclose, the servicer obtains the promissory note from the custodian holding the note on behalf of the mortgage investor and places that note in the hands of a servicer employee who has been appointed as an officer (vice president and assistant secretary) of MERS by corporate resolution.
64. When a promissory note is placed in the hands of a servicer employee who is also an Mortgage Electronic Registration Systems (MERS) officer, Mortgage Electronic Registration Systems (MERS) asserts that this transfer of custody into the hands of this nominal officer (without any transfer of ownership or beneficial interest) renders Mortgage Electronic Registration Systems (MERS) the holder.
65. No consideration or compensation is exchanged between the owner of the promissory note and Mortgage Electronic Registration Systems (MERS) in consideration of this transfer in custody.
66. Even when the promissory note is physically placed in the hands of the servicer’s employee who is a nominal Mortgage Electronic Registration Systems (MERS) officer, Mortgage Electronic Registration Systems (MERS) has no actual authority to control the foreclosure or the legal actions undertaken in its name.
67. Mortgage Electronic Registration Systems (MERS) will never willingly reveal the identity of the owner of the promissory note unless ordered to do so by the court.
68. Mortgage Electronic Registration Systems (MERS) will never willingly reveal the identity of the prior holders of the promissory note unless ordered to do so by the court.
69. Since the transfer in custody of the promissory note is not for consideration, this transfer of custody is not reflected in any contemporaneous accounting records.
70. Mortgage Electronic Registration Systems (MERS)is never a holder in due course when the transfer of custody occurs after default.
71. Mortgage Electronic Registration Systems (MERS) is never the holder when the promissory note is shown to be lost or stolen.

MERS’ Role in Mortgage Servicing

72. Mortgage Electronic Registration Systems (MERS) does not service mortgage loans.
73. Mortgage Electronic Registration Systems (MERS) is not the owner of the servicing rights relating to the mortgage loan and Mortgage Electronic Registration Systems (MERS) does not service loans.
74. Mortgage Electronic Registration Systems (MERS) does not collect mortgage payments.
75. Mortgage Electronic Registration Systems (MERS) does not hold escrows for taxes and insurance.
76. Mortgage Electronic Registration Systems (MERS) does not provide any servicing functions on mortgage loans, whatsoever.
77. Those rights are typically held by the servicer of the loan, who may or may not also be the holder of the note.

MERS’ Rights To Control the Foreclosure

78. Mortgage Electronic Registration Systems (MERS) must all times comply with the instructions of the holder of the mortgage loan promissory notes.
79. Mortgage Electronic Registration Systems (MERS) only acts when directed to by its members and for the sole benefit of the owners and holders of the promissory notes secured by the mortgage instruments naming Mortgage Electronic Registration Systems (MERS) as nominee owner.
80. MERS’ members employ and pay the attorneys bringing foreclosure actions in MERS’ name.

MERS’ Access To or Control over Records or Documents

81. Mortgage Electronic Registration Systems (MERS) has never maintained archival copies of any mortgage application for which it serves as “nominee”.
82. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not maintain physical possession or custody of promissory notes, deeds of trust or other mortgage security instruments on behalf of its principals.
83. MERS as a corporation has no archive or repository of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
84. Mortgage Electronic Registration Systems (MERS) as a corporation is not a custodian of the promissory notes secured by deeds of trust or other mortgage security instruments for which it serves as nominee.
85. Mortgage Electronic Registration Systems (MERS) as a corporation has no archive or repository of the deeds of trust or other mortgage security instruments for which it serves as nominee.
86. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not routinely receive or archive copies of the promissory notes secured by the mortgage security instruments for which it serves as nominee.
87. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not routinely receive or archive copies of the mortgage security instruments for which it serves as nominee.
88. Copies of the instruments attached to MERS’ petitions or complaints so not come from MERS’ corporate files or archives.
89. In its regular course of business, Mortgage Electronic Registration Systems (MERS) as a corporation does not input the promissory note or mortgage security instrument ownership registration data for new mortgages for which it serves as nominee, but rather the registration information for such mortgages are entered by the “member” mortgage lenders, investors and/or servicers originating, purchasing, and/or selling such mortgages or mortgage servicing rights.
90. Mortgage Electronic Registration Systems (MERS) does not maintain a central corporate archive of demands, notices, claims, appointments, releases, assignments, or other files, documents and/or communications relating to collections efforts undertaken by Mortgage Electronic Registration Systems (MERS) officers appointed by corporate resolution and acting under its authority.

Management and Supervision

91. In preparing affidavits and certifications, officers of Mortgage Electronic Registration Systems (MERS), including Vice Presidents and Assistant Secretaries, making representations under MERS’ authority and on MERS’ behalf, are not primarily relying upon books of account, documents, records or files within MERS’ corporate supervision, custody or control.
92. Officers of Mortgage Electronic Registration Systems (MERS) preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf, do not routinely furnish copies of these affidavits or certifications to MERS for corporate retention or archival.
93. Officers of Mortgage Electronic Registration Systems (MERS) preparing affidavits and certifications, including Vice Presidents and Assistant Secretaries, and otherwise making representations under MERS’ authority and on MERS’ behalf are not working under the supervision or direction of senior Mortgage Electronic Registration Systems (MERS) officers or employees, but rather are supervised by personnel employed by mortgage investors or mortgage servicers.

This should be a pretty good start for those of you faced with a foreclosure in which Mortgage Electronic Registration Systems (MERS) is falsely asserting that it is the owner of the promissory note. Whether Mortgage Electronic Registration Systems (MERS) is or was ever the holder is a FACT QUESTION which can be determined only by ascertaining the chain of custody of the promissory note. When the promissory note is lost, missing or stolen, Mortgage Electronic Registration Systems (MERS) is NOT the holder.

By William A. Roper, Jr. Excerpted from the MSFraud Forum thread “Facts about MERS / MERS Unmasked”

Is Your MERS Mortgage Status Designated Inactive?

Many homeowners find out their existing mortgage is listed as “inactive.” An inactive status can refer to the transfer of their mortgage to another loan servicer, or to a few other factors as noted below.

The difference between having an inactive or an active MERS (Mortgage Electronic Registration System) loan may determine if the property owner has any improved or worsened home equity, or a truly saleable asset.

What is MERS?

MERS functions as a centralized electronic registry of mortgages, and it was supposed to track the ownership of these mortgages, which are typically sold multiple times during the loan’s life. MERS potentially affects upwards of 70 million residential mortgage loans nationwide, and almost completely crashed the U.S. housing market by itself because of so many problems with the packages.

MERS was created by lenders and title insurance companies, so it would be easier to transfer the beneficial interests to other secondary market lenders. Yet, some mortgages ended up significantly discounted due to packaging problems, which made them inactive.

Where’s the “IOU” for the mortgage debt?

The MERS Scandal

Missing documents, notary fraud, and “robo-signing” led the way.

There was a lot of chaos involved with MERS mortgage packets, which contained no original promissory notes (the “IOU” for the mortgage debt) in these same MERS files.

Knowledgeable homeowners were able to completely stop their home foreclosures by pointing out that the foreclosing entity, such as the mortgage servicing company, didn’t have a legal right to foreclose on their homes, since they didn’t have all of their valid mortgage paperwork in their files.

These questionable ownership interests in the mortgages led to foreclosure moratoriums, court settlements, and inactive statuses.

There were a large number of allegations of notary fraud in which real or fake notaries such as “Linda Green” were allegedly part of the massive “Robo-Signing Scandal” nationwide.

It has been suggested that promissory notes, deeds of trust or mortgages, and other loan or title documents were forged, left blank, or illegally assigned to numerous mortgage investors. Since MERS was set up to become as paperless, speedy, and efficient as possible, there was not enough third party oversight to check whether these documents were valid.

Questionable Beneficial Interests

“No Note = No Debt” became the mantra for homeowners who were in the midst of their own foreclosures due to the weaker U.S. economy. Some savvy property owners were able to legally void their existing mortgage debt altogether by proving that the foreclosing mortgage company had no valid beneficial interests in the existing mortgage, and thus had to legal right to collect any payments.

Other homeowners were able to show that their MERS files had fraudulent notary signatures signed on behalf of both owners and lenders, which moved their file designations over to “inactive” as well.

Mortgage lenders that have collapsed or imploded since the official start of the Credit Crisis back in 2007, such as Countrywide, Indy Mac, Lehman Brothers, World Savings, Downey Savings, and Washington Mutual still figuratively exist by way of their asset or beneficial interest transfers to the “strawman” named MERS.

MERS may pay no taxes or employ anyone. Without the proper assignment of these MERS mortgages, these same imploded mortgage companies’ loans could have ceased to exist.

The Shadow Inventory & MERS

Instead of upwards of 60 million residential MERS mortgages becoming inactive or possibly even completely voided and worthless, many of the largest banks and mortgage service companies worked closely with the U.S. government to create the National Mortgage Settlement in early 2012. This insanely small $25 billion settlement is but a mere fraction of the potentially trillions of dollars of MERS mortgages nationwide.

The National Mortgage Settlement of 2012 and MERS Scandal were two of the primary reasons why home listings nationally dropped dramatically.

There were potentially millions of Shadow Inventory homes (mortgage payments are more than 90 days late), which may not have valid promissory notes, or other mortgage or title instruments or documents, in the files. The lack of listed home inventory led to a rapid increase of home prices between 2011 and 2013 (also partly due to the record low mortgage rates).

The “Inactive” MERS Designation

An inactive MERS designation may relate to the loan having been refinanced or paid off, discounted, or completely voided due to the invalid mortgage documents in the file. Or, the mortgage loan was assigned out of the MERS system to a completely new mortgage servicing company.

A property owner with a MERS mortgage can find the status of their loan by searching for their 18-digit Mortgage Identification Number (MERS MIN). Then, the same person may search online for the MERS Servicer ID system in order to check the status of their mortgage.

Before attempting to pay off a MERS loan, it’s very important to find out if all of the mortgage payments have been properly applied to the account. The vast majority of MERS mortgages have been assigned to multiple mortgage investors over the years, so it is very important to check your own payment history over the years in order to determine if all of your payments have been credited to every mortgage servicing lender’s accounts.

It’s imperative that the owner pays off the correct amounts, which may mean more money back to the owner and much less money for the current mortgage loan servicer. As such, a little research and loan analysis by a property owner on their personal payment histories can save them a lot of money and headaches.

Here is some additional information on MERS:

• MERS Is Dead
• MERS Admits NO Interest in Mortgage and No Loss on Default

• New York’s U.S. Bankruptcy Court Rules MERS’s Business Model Is Illegal

• Consent Order for MERSCORP and Mortgage Electronic Registration Systems, Inc. (MERS)

 

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!

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

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”

CONSTRUCTIVE FRAUD

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?

FRAUD AND NEGLIGENT MISREPRESENTATION

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?

NEGLIGENT MISREPRESENTATION

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.

BREACH OF CONTRACT

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?

BREACH OF FIDUCIARY DUTY

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.

GET YOUR AUDIT NOW

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