What Are Zombie Second Mortgages?

The zombie mortgages that are wreaking havoc today are second mortgages. Many were originated by predatory lenders in the years leading up to the 2007 financial crisis. During that era of frenzied lending, brokers often combined first and second mortgages in a single loan transaction. Referred to as “80-20 mortgages,” the transactions typically financed 80% of the principal balance through a first mortgage and the other 20% through a second mortgage. This kept the first mortgage within a loan-to-value ratio for easy securitization. Careless underwriting and abusive terms led to early defaults on many of these mortgages.

Geoff Walsh of National Consumer Law Center (NCLC) publishes very informative article regarding foreclosure

by Neil Garfield

Almost everyone writing articles about consumer finance, mortgage loans, and servicing is now in agreement that there are viable meritorious defenses for the consumer. True, they are not obvious to the casual observer, which is part of the problem.

See NCLC Digital Library – 12 Ways to Fight Foreclosure of Zombie Second Mortgages – 2022-03-28
But the defenses available to consumers and to homeowners, in particular, are sufficient to defeat most attempts to administer, collect or enforce any alleged loan account receivable mostly because no such account exists on the books of the party named as the owner of the “note”.

• Further, there are sufficient and meritorious grounds to force repayment of money previously paid by the consumer.

• And finally, there are sufficient and meritorious grounds to claim damages for breaches of statutory duties requiring disclosure and equitable remedies for restitution arising from the consumer’s involuntary assumption of unknown risks.

What is apparent in the above links is the conflict between common law, previous statutory law, and current regulations regarding transfers of rights to unpaid loans. Common sense dictates that you should be under no duty to pay anyone other than the “lender” who gave you money unless that “lender” instructs you to pay someone else on their behalf in writing.

That instruction never comes now although it was ALWAYS required by all previous laws, rules,.. regulations, and court doctrine. Instead, agencies are continuing along the path of requiring only the transferee to give notice of a transfer of ownership of “the note” in lieu of any notice from anyone instructing the debtor consumer that the underlying obligation and been transferred to a successor lender because it was sold to that successor.

Consumers contact their State AG and the CFPB who maintain their office under charter to protect consumers who lack the resources to protect themselves. Instead of doing their jobs, the agencies and law enforcement shoves it back in the face of hapless consumers who know little or nothing about the law and who only want to pay their bills — but only to people to whom they owe money. That is not an unreasonable caveat.
So I have proposed to multiple lawyers, consumers and advocates across the country that they start suing the agencies seeking equitable (injunctive relief), specifically mandating that the agency do its job and more specifically that the CFPB and FTC do their job.

Here is my summary:
• Adm Agency has a duty as specified in its charter as passed by specific legislation.
• Specifically, CFPB was formed to investigate and resolve consumer complaints regarding lending and servicing – recognition that consumers are at a disadvantage in clarifying, confronting or contesting claims made for administration, collection, and enforcement of alleged unpaid loan account receivables.
• More specifically these agencies are required to intervene on behalf of consumers when false claims are made as to the existence, status or ownership of allegedly unpaid accounts receivable owed by the consumer.
• CFPB breached its duty by adopting rules and policies that converted its primary mission into a message carrier. The effect was to delegate back to the consumer the burden of investigational and resolution. [specify rules and policies]
• Court should enter an order that
o Finds CFPB in breach of duties of supervision, investigation and resolution
o Orders CFPB to adjust its rules and policies
o Specifically order CFPB to require confirmable proof that parties acting as presumed servicers and actually performing servicing functions with respect to the receipt, processing, and distribution of money paid by consumers
o Specifically order CFPB to require confirmable proof that parties named as claimants, DOT beneficiaries, or successor mortgagees maintain a loan account receivable (GAAP compliant) on their own accounting ledgers
o Specifically order CFPB to require confirmable proof that parties named as claimants, DOT beneficiaries, or successor mortgagees attest and acknowledge that they authorized specifically identified parties to act on their behalf for the administration, collection and enforcement of unpaid debts owed by specific consumers, borrowers or debtors.

Mortgage Fraud Daily News Update ⋅ March 29, 2022


Area broker charged in advance fee for loan scam — again | Business Observer

Business Observer

A Hendry County loan broker has been arrested for her role in an alleged fraudulent advance fee for loan scheme connected to a Fort Myers …


Fraud Detection and Prevention Global Market Report 2022 – Yahoo Finance

Yahoo Finance

Major players in the fraud detection and prevention market are IBM … other fraud type include mortgage fraud, insider fraud, and mobile fraud.


PPP enforcement turns to lenders | Consumer Finance Monitor

Consumer Finance Monitor

To date, prosecutions for PPP fraud have targeted borrowers and often involve the most brazen fraudsters. Lenders that facilitated fraudulent …


Reverse Mortgage Problems for Heirs – Investopedia


Inheriting a reverse mortgage can be complicated. … Aside from the potential for scams targeting the elderly, reverse mortgages have some …


New York Bill Could Chill Lending – National Mortgage Professional

National Mortgage Professional

Opponents of the bill say it will severely limit mortgage holders’ right … allegedly used credit repair business to obtain fraudulent mortgages.


Watchdog warning after woman lost €20,000 in cryptocurrency scam – Irish Examiner

Irish Examiner

Complaints concerning mortgages accounted for 23% of all complaints received in 2021. This includes 250 new tracker mortgage complaints during …


York Woman Pleads Guilty To Money Laundering | USAO-MDPA | Department of Justice

Department of Justice

Bixler obtained a mortgage loan for the purchase of her home by submitting multiple false statements to York Traditions Bank.


Hyderabad: CBI books firm, managing director for duping Canara Bank – Siasat.com


CBI books firm for loan fraud … trade and collateral security of mortgage of industrial plot measuring 913.63 square yards in Warangal district …


Developments in Securities Fraud Class Actions Against US Life Sciences Companies – Dechert LLP

Dechert LLP

A few plaintiff law firms were associated with about three-fourths of the filings against life sciences companies: Pomerantz LLP (27 complaints), …


How Effectiv Plans To Help Banks And Credit Unions Fight Fraud – Forbes


With the banking industry losing an estimated $19 billion a year to fraud, investing in technology that can bring those losses down is a …


Best Bad Credit Loan Companies With Guaranteed Approval – Vashon Beachcomber

Vashon Beachcomber

How to Spot a Scam Before You Become The Victim Of A Loans For Bad Credit Fraud. Will the Lender Reach Out to You Directly? Lenders only call if you …


Fraud and litigation push Florida’s home insurers into insolvency | Real Estate News – Florida Trend

Florida Trend

Previous Real Estate Updates: Home sales tumble; higher prices, mortgage rates eroding affordability · Lawmakers unable to find common ground on …


2021 HMDA Data on Mortgage Lending Now Available – MyChesCo


WASHINGTON, D.C. — The Home Mortgage Disclosure Act (HMDA) Modified Loan … CFPB Issues Policy on Contractual ‘Gag’ Clauses and Fake Review Fraud.


Robinson hired as Haysto chief commercial officer – Mortgage Finance Gazette

Mortgage Finance Gazette

… an online aggregator for mortgages to a fully-fledged online broker. … the maze of complexities to find the right mortgage, just for them!


Alleged N6bn fraud: Court reduces Mompha’s bail sum from N200m to N25m

The Guardian Nigeria News

Environment · Mortgage Finance · Real Estate · Urban Development · Saturday Magazine · Youth Magazine · Just Human · Life & Style · Love & Life …


Number of green buy-to-let deals surges to over 350 | Financial Reporter

Financial Reporter

Green product choice in the buy-to-let sector has risen to a new high of 353, according to research from Mortgages For Business.


US NHTSA reinstates billions in fines on gas-guzzling automakers – Electrek


By 2024 baby trump will be in prison for mortgage fraud and tax fraud. Tracy • 1 hour ago. Yeah, I’m not so convinced.


Foundation Home Loans appoints sales director in senior shake-up | Financial Reporter

Financial Reporter

Foundation Home Loans has announced the internal promotions of Grant Hendry and Mark Whitear. Related topics: Mortgages. Rozi Jones.


Papas’ waterfront home up for sale for $10 million – Mortgage Professional America

Mortgage Professional America

Liquidators told a recent meeting that portions of the proceeds of Forum’s alleged fraud were used to buy luxury homes and high-performance …


Best Identity Theft-Protection Services Of 2022 | Bankrate


IdentityForce, a division of TransUnion, offers an extensive monitoring system that detects fraudulent credit activity, changes of address, illegal …


Luhmann appointed to head up United Trust BTL team – Mortgage Finance Gazette

Mortgage Finance Gazette

United Trust Bank director of mortgages Buster Tolfree says: “We’ve really shaken up the specialist end of the mortgage market with our first and …


Share buyback puts NatWest back into private ownership – Mortgage Finance Gazette

Mortgage Finance Gazette

The government has sold £1.2bn worth of shares in NatWest. This brings the government ownership of NatWest from 50.6% to 48.1% – meaning the bank …


Gardai in Offaly investigating multiple incidents of ‘advance fee fraud

Offaly Express

The losses were from €1,000 to €4,000. Gardai in Tullamore say both victims thought they were dealing with legitimate loan and mortgage websites.


Construction firm involved in UAlbany project charged with fraud – Times Union

Times Union

The IG’s office said in a statement that Leroy Nelson Jr., 41, owner of JRN Construction, had a felony charge filed Monday in Albany City Court …


Helping brokers help their clients | Canadian Mortgage Professional

Mortgage Professional America

“While pursuing a policing career, I was working as a regional manager in theft/fraud for a large CDN retailer. In 2012 and 2013, the company did …


OSB Group strengthens specialist finance support team | Financial Reporter

Financial Reporter

… strengthen broker support across Precise Mortgages for bridging finance and InterBay for commercial, semi-commercial and specialist buy-to-let.


ERC makes penalty-free partial loan repayments prerequisite – Mortgage Finance Gazette

Mortgage Finance Gazette

The Equity Release Council has made penalty-free partial loan repayments a prerequisite for all equity release plans for new customers from today …


Libor transition threatens housing market and banks | National Mortgage News

National Mortgage News

Should a mortgage lender, for example, use SOFR-plus to price loans? … or investor objects to the substitution and decides to sue us for fraud?


Local Gardai investigating two incidents of “advance fee fraudscams | Offaly Independent

Offaly Independent

The loan applicant will then complete an online application and will receive a call or communication within a very short time (often minutes) …


Michael Lynn trial: Solicitor claims signature forged on loan documents without permission

Breaking News

The trial continues before Judge Martin Nolan and a jury. X. Topics. Court,; mortgages,; alleged fraud,; Michael Lynn,; Fiona McAleenan …


Lenders, are you prepared for upcoming changes from the IRS? – HousingWire


If you’re a mortgage lender, you’re undoubtedly familiar with IRS Form 4506. Introduced as a fraud prevention measure, Form 4506 is required from …


Pinsent Masons: Reports of crypto investment fraud continues to rise sharply – IFA Magazine

IFA Magazine

Hinesh Shah, Senior Associate Forensic Accountant and Financial Crime Investigator at Pinsent Masons, says: “The boom in cryptocurrency activity …


Exits of Ulster and KBC from market see ‘increase in mortgage switching’ – Irish Examiner

Irish Examiner

Remortgaging and mortgage switching grew by 57% in the past year to €194m as … Watchdog warning after woman lost €20,000 in cryptocurrency scam.


The Standard Promotes Jesse Levin to Second Vice President of Loan Origination | Business

Valdosta Daily Times

VALDOSTA — A Brooks County man was sentenced to prison Thursday after pleading guilty to wire fraud, the U.S. Department of Justice said in a …


Ombudsman offers window into world of financial folly and misery – The Irish Times

The Irish Times

Cantillon: Customer service continues to be major flaw in financial service providers · Tracker mortgages · Cryptocurrency fraud.


Huawei ‘More United’ in Face of US Pressure, Says Repatriated CFO | Investing News

US News Money

Meng was allowed to return to China in September after agreement with U.S. prosecutors to end a bank fraud case. “Over the past few years our teams …


The CFPB safeguards consumers against unfair and abusive practices by financial services …

Business Insider

The CFPB was created in the wake of the subprime mortgage crisis. … Debt collection; Fraud and scams; Money transfers; Mortgages; Payday loans …


Fraud Detection and Prevention Market Trends Statistics 2022, Worldwide Revenue Analysis

ChattTenn Sports

Deed & Mortgage Fraud Financial Services Insurance. The report intently focuses on evaluating the exact impact of COVID-19 outbreak.


Harvard Law Grad Launches Black Woman-Owned Film and Content Production Company

Chicago Defender

Brown recently filed a $53 million lawsuit alleging race, gender, LGBTQ discrimination, mortgage fraud, and identity theft after battling and …


Wells Fargo Ducks Pre-2008 Mortgage Discrimination Suit, for Now – BNN Bloomberg

BNN Bloomberg

won an early round in a lawsuit accusing the bank of running a predatory mortgage-lending scheme in the Atlanta area before the 2008 financial crisis …


CA Sri Lanka launches exclusive global credential for finance professionals to fight fraud | Daily FT

Daily FT

From left: ACFE Sri Lanka Chapter and State Mortgage and Investment Bank Chairman Dr. Udayasri Kariyawasam, CA Sri Lanka Past President Jagath …


POLL: How often are your buyers’ mortgage applications facing denials compared to last year?

First Tuesday Journal

This weeks poll inquires about mortgage applications in comparison to the year … by DRE and DFPI for conducting massive education fraud scheme …


Feds Indict Two On Multi-State Mortgage Fraud Charges – MBA Newslink

MBA Newslink – Mortgage Bankers Association

National Mortgage Professional, Mar. 25, 2022–Keith Griffin The Department of Justice indictment, according to a news release, …


Foreclosure Daily News Update ⋅ March 29, 2022


Lawmakers advance bill to help families stay in homes despite foreclosures – New Jersey Monitor

New Jersey Monitor

Sawyer is a longtime real estate agent and broker. To make foreclosed properties more affordable to people who would live there instead of investors …

House Bill 4118 (2011) – Michigan Legislature – Michigan Legislature

Foreclosed Homes For Sale In Orlando, FL – eXp Realty® – eXp Realty

Full Coverage


Deutsche Bank Sues Man Over Foreclosure Claims | Daily Report – Law.com


Pro se defendant Christopher M. Hunt removed a foreclosure lawsuit to Georgia Northern District Court on Thursday.

Millsap & Singer, LLC – msfirm.com

Wrongful Mortgage Foreclosure | hr webinar | Webinar: ID# 1040631| Live on 5/11/2022 – Payroll Training

Notice of Suit for Foreclosure by Wright-Patt Credit – Classifieds – Classifieds

Full Coverage


This Freelancer Went From Foreclosure to Financial Freedom With One Tweak in Her Business


For Shaunda Head, impending foreclosure and a car repossession led to a professional wake-up call. “I knew it was time to shift my approach and …



Cadillac News

NOTICE OF FORECLOSURE BY ADVERTISEMENT Notice is given under section 3212 of the revised judicature act of 1961, 1961 PA 236, MCL 600.3212, …


Workshop aims to help homeowners avoid property tax foreclosure – The Oakland Press

The Oakland Press

Brenda Carter will host a workshop Tuesday aimed at helping area residents avoid foreclosure. The 2-hour workshop will be livestreamed on Facebook …

Tax Foreclosures Details | City of Worcester, MA – City of Worcester

Foreclosure and Foreclosure Prevention – Catholic Social Services – Catholic Social Services

Full Coverage


New York Bill Could Chill Lending – National Mortgage Professional

National Mortgage Professional

Opponents of the bill say it will severely limit mortgage holders’ right to reach the merits of a foreclosure claim and encourages borrowers to …


After Mansion Foreclosure, the Ace Family Moves Into $50000/Month Rental House – DIRT


After their Woodland Hills mansion foreclosure, Austin and Catherine McBroom have changed their address to a lavish Tarzana rental home.


Cincinnati’s Carew Tower under contract to be sold in April, court records show

Cincinnati Enquirer

At the time of the foreclosure filing, Power owed about $9.7 million in principal payments, interest and late fees, according to court documents.


Disparities Arising from Standardized Contracts | The Regulatory Review

The Regulatory Review

Mortgages that do end in foreclosure are different from those that do not; foreclosed homes are disproportionately located in lower-income …


Op-Ed | Beyond the COVID-19 emergency: Let’s end the homelessness and eviction crises

The New York State Senate

New Yorkers are facing an unprecedented convergence of housing crises. The statewide eviction and foreclosure moratorium has expired after 22 …


Elderly Oak Harbor woman loses house in mortgage confusion | HeraldNet.com

Everett Herald

A lender foreclosed and sold the home after mistakenly assuming the occupants no longer lived there.

The 9 Most Common Mistakes in Foreclosure Cases – Loan Lawyers – Loan Lawyers

Full Coverage


Florida lawyer’s lawsuit claims Hillary Clinton sought to ‘cripple’ Donald Trump’s White House bid


Ticktin faced foreclosure on his own 3,920-square-foot Boca Raton home during that time period, but said “we worked that all out, settled the whole …


POLL: How often are your buyers’ mortgage applications facing denials compared to last year?

First Tuesday Journal

Related Posts · DBO Bulletin Digest October 2019 · Welcome to the grand (money) illusion · Word-of-the-Week: Nonjudicial foreclosure · New California law …


Public Notice No. 8138 – The Torrington Telegram

The Torrington Telegram

WHEREAS, if the foreclosure sale is set aside for any reason, … N.A., as the Mortgagee, will have the Mortgage foreclosed as by law provided by …


How convenient is it to sell a house to investors and not Realtors? – The Katy News

The Katy News

Hence, their foreclosure laws are very different. These are known as non-judicial states in the real estate circle. Thus, when you work with investors …


TRUSTEE’S SALE OF 1853 EGAN RD BIG STONE GAP, VA 24219 – Coalfield Progress

Coalfield Progress

Reference Number 20-287132. PROFESSIONAL. FORECLOSURE. CORPORATION. OF VIRGINIA Substitute Trustees. C/O LOGS LEGAL. GROUP LLP 10021 Balls Ford Road


How to obtain a personal loan at a low-interest rate? – Mid-Day


… verification charges, foreclosure fees, and a few others. … Hidden costs are mostly related to delayed EMIs or personal loan foreclosure.


Illinois Homeowner Assistance Fund to launch in April 2022 – KWQC


Mortgage issues like delinquencies, defaults, or foreclosures … With the foreclosure moratorium, those numbers came down but now we are starting …


Evers announces $8M to help Wisconsinites access civil legal services needed to recover …

CBS 58

The grant will allow WisTAF and its partner organizations to furnish civil legal aid interventions to Wisconsinites who face foreclosure, …


Wyohouses is The Most Reliable House Selling Solution in Laramie, WY – Digital Journal

Digital Journal

Foreclosure, back taxes, probate, bankruptcy, or anything else. Wyohouses will provide an all-cash deal for your house, regardless of the …


Wells Fargo Ducks Pre-2008 Mortgage Discrimination Suit, for Now – Yahoo Finance

Yahoo Finance

… loans in minority neighborhoods, and that minorities were significantly more likely to be targeted for foreclosure than White borrowers.


In the courts: | News, Sports, Jobs – The Review

In the courts: | News, Sports, Jobs – The Review

County Treasurer vs. Beverly J. Palmer, foreclosure sought for alleged delinquent taxes for property on Densmore Avenue, East Liverpool. Samantha …


Have Pasadena’s Hotel Constance Buildings Been Sold?

Pasadena Now

… the Hong Kong real estate investment firm that owned the DusitD2 Constance Pasadena — said the building was in foreclosure and the hotel in …


Potential buyer of former Longaberger basket building sues owner for breach of contract

The Newark Advocate

The 180,000-square-foot building at 1500 E. Main St., was vacated by the basket-maker in 2016 and saved from foreclosure in late 2017 when …


Fitch Takes Various Actions on UBS 2012-C1

Fitch Ratings

The loan is now 90+ days delinquent, and the special servicer is reportedly moving forward with foreclosure while negotiations with the borrower …


Florida lawyer’s lawsuit claims Hillary Clinton sought to ‘cripple’ Donald Trump’s White House bid

Palm Beach Post

Ticktin was on the cutting edge of the law.” More recently, Ticktin defended thousands of homeowners involved in foreclosure cases during the Great …


Churchill Mortgage Picks Darren Shaffer as Chief Technology Officer – MortgageOrb


After January Spike, Foreclosure Starts Drop by 24 Percent. Subscribe. Notify of. new follow-up comments, new replies to my comments.


Why are investors more preferable than realtors when selling a house? – TechBullion


Investors help during foreclosure. If your property is in foreclosure, you have limited opportunity in terms of time for selling the house and …


Capitalizing on the SFR Market – DSNews

DS News

… John H. Prins, Managing Director, CoreVest Finance; Curtis Roddy, Founder and CEO, Roddy Real Estate Group|Foreclosure Listing Service …


IDSPUB#0175951 NOTICE OF TRUSTEES | Legal Announcements | goskagit.com


The default(s) for which this foreclosure is made is/are as follows: BORROWER(S) FAILED TO MAINTAIN HAZARD INSURANCE ON THE PROPERTY (AND/OR …


IDSPUB#0175952 NOTICE OF TRUSTEES | Legal Announcements | goskagit.com


The default(s) for which this foreclosure is made is/are as follows: The Property ceases to be the principal residence of a Borrower for reasons …


Controversial YouTube family announces new festival, chance to go to their wedding

Yahoo Finance

… rocky one for the couple, with multiple lawsuits filed against them and a foreclosure threat made to the family’s $10.1 million mansion.


KBRA Credit Profile Releases KCP K-LOC Index: February 2022 | Business Wire

Business Wire

… CMBX 7), a new office K-LOC in Chicago, and revisit 135 South LaSalle (CGCMT 2015-GC31) based on a potential deed-in-lieu of foreclosure.


Extended bill to protect thousands from utility shutoffs – are you eligible? – The Sun

The Sun

Three ways homeowners can avoid foreclosure with help worth up to $80,000 each. The bill also states that the utility providers must offer a …


Wells Fargo sued over alleged modern-day redlining practices – Mortgage Professional America

Mortgage Professional America

… disparities have forced Black homeowners to pay more than non-Black homeowners, resulting in foreclosure in many cases, alleges the lawsuit.


Looking to buy a vacation rental? Navarre Beach is the No. 3 best spot in the U.S. for that

Pensacola News Journal

Why Pensacola’s hot housing market might actually be helping foreclosure rates stay low. Navarre doesn’t have many hotel options, so its tourism …


Get A Full Mix Of Gameplay With SUNNYSIDE – GameTyrant


… PlayStation 5 Players Are Getting The Full FORECLOSED Experience · Gameplay For DOCTOR WHO: THE EDGE OF REALITY Revealed Just Before Launch.


From Foreclosure to Fair Lending: Advocacy, Organizing, Occupy, and the Pursuit of Equitable Credit

Agenda Bookshop

This book informs a renewed movement for fair lending and fair housing. Leading advocates and specialists examine strategic initiatives to realize …



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.

Now You Can Unlock the Power of Justice and the Rule of Law with FRAUD STOPPERS


Are you tired of being a victim of financial fraud, seeking the justice and legal remedy you deserve? Look no further – FRAUD STOPPERS is here to empower you with the comprehensive tools and support necessary for success. With a wide range of services tailored to your needs, we are your ultimate ally in the fight against fraud.

FRAUD STOPPERS Arsenal of Solutions includes but is not limited to:

  1. Audits & Investigations: Our team of skilled professionals will meticulously analyze your case, leaving no stone unturned in uncovering the truth. We employ cutting-edge techniques and resources to expose the fraud and gather irrefutable evidence. We are the only organization (to our knowledge) that can provide you with a Full Level 4 Bloomberg Securitization Audit and all the loan level data and trust information for all Government Sponsored Loans (GSE’s) and loan placed in private trust (shipped off shores) that do not report to the Securities and Exchange Commission (SEC).
  1. Expert Witness Affidavits & Testimony: Our network of esteemed experts will provide compelling affidavits and testify on your behalf, lending credibility and authority to your case. Their specialized knowledge and experience will strengthen your position in the legal battle.
  1. Turnkey Litigation Packages: We understand that navigating the complex legal landscape can be overwhelming. That's why we offer comprehensive litigation packages, equipped with all the necessary documents and strategies to mount a strong defense against fraudsters.
  1. Professional Paralegal Support: Our dedicated paralegals are committed to assisting you every step of the way. They will guide you through the process, offer invaluable insights, and provide crucial administrative support to ensure your case is well-prepared.
  1. Nationwide Attorney Networks: We have established a vast network of highly skilled attorneys across the country who specialize in fraud cases. Rest assured, you will be connected with a trusted legal expert who is passionate about seeking justice on your behalf.
  1. Legal Education and Training: At FRAUD STOPPERS, we believe that knowledge is power. That's why we provide comprehensive legal education and training resources, empowering you to understand your rights, navigate the legal system, and make informed decisions throughout your case.
  1. Debt Settlement Negotiations: Our experienced negotiators will engage with creditors on your behalf, striving to reach favorable debt settlement agreements. We will advocate for your interests, aiming to alleviate the financial burden caused by fraud.
  1. Private Lending: If you require financial assistance to support your legal battle, our private lending options can provide the necessary funding. Our trusted lending partners offer competitive rates and flexible terms, ensuring you have the resources to fight for justice.


And much more! Save Time, Money, and Increase Your Odds of Success with FRAUD STOPPERS' Proven Products and Programs

If you're serious about getting the legal remedy you deserve, FRAUD STOPPERS has everything you need to succeed while saving time, money, and increasing your odds of success. Our comprehensive range of proven products and programs is designed to streamline the process, maximize efficiency, and deliver results.

Time is of the essence when it comes to combating fraud, and we understand the importance of expediting your case. With our expertise and resources, we can minimize delays and ensure efficient progress. By leveraging our extensive experience in fraud investigations and legal strategies, you can navigate the complexities of the legal system with confidence, saving valuable time in the process.

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Partnering with FRAUD STOPPERS significantly increases your odds of success. Our proven track record and extensive network of experienced professionals ensure that you have the best possible resources at your disposal. From expert witness testimonies to strategic litigation packages and effective debt settlement negotiations, our carefully curated products and programs have a track record of achieving favorable outcomes. With FRAUD STOPPERS by your side, you can maximize your chances of holding fraudsters accountable and obtaining the justice you deserve.

By choosing FRAUD STOPPERS, you can save time, save money, and increase your odds of success. Our proven products and programs, combined with our commitment to your cause, empower you to reclaim your future. Take the first step towards justice by completing the form below.

Remember, with FRAUD STOPPERS, you have a trusted partner dedicated to saving you time, money, and increasing your chances of success. Let us fight by your side and help you put an end to fraud once and for all.

Our commitment to your success knows no bounds. We are constantly expanding our services and partnerships to provide you with the most effective tools in the fight against fraud.

Ready to get started?

Simply complete the form below to begin your journey towards justice. Once submitted, check your email inbox or email spam folder for detailed instructions on how to move your file forward.

Remember, you don't have to face fraud alone – FRAUD STOPPERS is here to champion your cause and bring you the justice you deserve.

Join us in the battle against fraud today!

Complete the form below and then after submission, check your email inbox or spam folder for detailed instructions on how to move your file forward to get the legal remedy you seek and deserve.



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

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

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

The views expressed at, or through, this site are those of the individual authors writing in their individual capacities only – not those of their respective employers, FRAUD STOPPERS, or committee/task force as a whole.  All liability with respect to actions taken or not taken based on the contents of this site are hereby expressly disclaimed.  The content on this posting is provided “as is;” no representations are made that the content is error-free.

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