Unveiling the Deceptive Nature of Loan Modifications: How FRAUD STOPPERS Can Help Homeowners Safeguard Their Rights

The article titled “Modifications Are Part of the Big Lie: Don’t send that application for modification if you don’t want to waive important rights” by Neil Garfield sheds light on the deceptive nature of loan modifications in the foreclosure process. The author highlights the risks and hidden consequences that homeowners may face when applying for loan modifications.

According to Garfield, filing an application for modification effectively waives important rights and exposes homeowners to undisclosed securities schemes. The application allows the unauthorized agent/servicer, such as New Rez aka PHH aka Ocwen, to act as if they have the authority to modify the loan, even though they lack such authority. It also transforms the original loan agreement into a new arrangement, making the unauthorized agent/servicer the virtual creditor while the homeowner relinquishes the right to contest their standing to administer, collect, and enforce the note and mortgage.

The article emphasizes that signing the modification application creates a legal presumption of validity for the document and all its contents, reinforcing the concealed nature of the underlying transaction in which the note and mortgage were executed and delivered. Additionally, it exposes homeowners to potential data privacy issues, as the application permits the servicer to sell and distribute personal and transaction data to third parties without adequate consent.

Garfield questions the intentions behind these modifications and points out the apparent flaws in the contractual relationships between the named plaintiff, agent/servicer, and the homeowner. The author cites a case where the judge found that the trust, trustee, and agent/servicer had no connection to the debt, note, or mortgage, further highlighting the questionable practices employed by these entities.

Amidst this context, the article introduces FRAUD STOPPERS as a potential resource to assist homeowners. It suggests that by conducting loan modification audits, FRAUD STOPPERS can help homeowners challenge the legitimacy of the underlying transactions, contest standing issues, and expose fraudulent practices. However, the specific details of how FRAUD STOPPERS’ loan modification audits can assist homeowners are not elaborated upon in the article.

In summary, Neil Garfield’s article warns homeowners about the potential risks and hidden consequences associated with loan modifications during the foreclosure process. It highlights the concealed nature of the transactions, the unauthorized authority of agent/servicers, and the waiver of important rights by homeowners. The article hints at the potential benefits of utilizing FRAUD STOPPERS and their loan modification audits to challenge these practices and protect homeowners’ rights.

If you have CYNTHIA RILEY’s “signature” on any document in your chain of title you need to read this. Same for Jess Almanza.

Posted on January 12, 2021 by Neil Garfield

MFI-Miami has a file cabinet filled with foreclosure files containing Riley’s stamp that weren’t consummated until months or years after she left Washington Mutual.

Nearly 2/3 of the Washington Mutual Promissory Notes in foreclosure contain an endorsement stamp of former Washington Mutual Vice President Cynthia Riley.

Riley was a Vice President of Washington Mutual until November of 2006 Nearly half of the Washington Mutual loans currently in foreclosure were consummated after November of 2006. Most of them contain Riley’s endorsement.

This was a big mystery until January of 2013 when Cynthia Riley sat for a deposition.

Riley admitted other people in her office used her stamp and she admitted she never stamped any mortgage notes. Riley admitted in her deposition she was hired by JPMorgan Chase in 2009.

She remained employed at JPM-Chase until some time between October of 2014 and April of 2015. Attorney Daniel Milian attempted to force JPMorgan Chase to have her sit for a deposition in the Zacharakis case. Naturally, JPMorgan Chase dragged their feet with responding to the motion for nearly 6 months. JPMorgan Chase then claimed her whereabouts were unknown.

It appears JPMorgan Chase made sure her whereabouts would remain unknown. They scrubbed the internet of any record of her connection with Washington Mutual or JPMorgan Chase.

MFI-Miami discovered JPMorgan Chase was hiding a dirty secret. They were stamping these Washington Mutual notes with the Cynthia Riley endorsement stamp between 2012 and 2014. Several MFI-Miami clients had their 2009 or 2010 Washington Mutual foreclosure cases with no endorsement stamp suddenly withdrawn. Only to have them refiled in 2013 or 2014 with endorsed notes by Cynthia Riley.

JPMorgan Chase got really sloppy. JPMorgan Chase began compulsively stamping almost every promissory note with Riley’s endorsement stamp. MFI-Miami has a file cabinet filled with foreclosure files containing Riley’s stamp that weren’t consummated until months or years after she left Washington Mutual.

JPMorgan Chase’s compulsive use of Cynthia Riley’s endorsement stamp was beginning to affect the bank’s bottom line in 2015. So what should they do?

JPM-Chase executives went into the basement storage room. They searched through old Washington Mutual boxes and randomly dusted off the endorsement stamp of another former Washington Mutual VP. This time, they picked former Vice President Jess Almanza.

Almanza served as Washington Mutual’s VP of Capital Markets/National Closing Operations until July of 2006. He soon went to work for Bank of America after leaving Washington Mutual according to his Linkedin profile.

Almanza never went to work for JPM-Chase like Cynthia Riley. It appears Almanza’s endorsement stamp was used without his consent.

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