U.S. Probes Foreclosure-Data Provider:Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork (LPS VIDEOS)

U.S. Probes Foreclosure-Data Provider:Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork (LPS VIDEOS)

U.S. Probes Foreclosure-Data Provider:Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork (LPS VIDEOS)

Keep in mind this is only on the Georgia Subsidiary “DocX” mean while back at the ranch in Minnesota much, much, much more fraud has been created see the videos below.

APRIL 3, 2010 The Wall Street Journal

U.S. Probes Foreclosure-Data Provider

Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork

By AMIR EFRATI and CARRICK MOLLENKAMP

A subsidiary of a company that is a top provider of the documentation used by banks in the foreclosure process is under investigation by federal prosecutors.

The prosecutors are “reviewing the business processes” of the subsidiary of Lender Processing Services Inc., based in Jacksonville, Fla., according to the company’s annual securities filing released in February. People familiar with the matter say the probe is criminal in nature.

Michelle Kersch, an LPS spokeswoman, said the subsidiary being investigated is Docx LLC. Docx processes and sometimes produces documents needed by banks to prove they own the mortgages. LPS’s annual report said that the processes under review have been “terminated,” and that the company has expressed its willingness to cooperate. Ms. Kersch declined to comment further on the probe.

A spokesman for the U.S. attorney’s office for the middle district of Florida, which the annual report says is handling the matter, declined to comment.

The case follows on the dismissal of numerous foreclosure cases in which judges across the U.S. have found that the materials banks had submitted to support their claims were wrong. Faulty bank paperwork has been an issue in foreclosure proceedings since the housing crisis took hold a few years ago. It is often difficult to pin down who the real owner of a mortgage is, thanks to the complexity of the mortgage market.

During the housing boom, mortgages were originated by lenders, quickly sold to Wall Street firms that bundled them into debt pools and then sold to investors as securities. The loans were supposed to change hands but the documents and contracts between borrowers and lenders often weren’t altered to show changes in ownership, judges have ruled.

That has made it hard for banks, which act on behalf of mortgage-securities investors in most foreclosure cases, to prove they own the loans in some instances.

LPS has said its software is used by banks to track the majority of U.S. residential mortgages from the time they are originated until the debt is satisfied or a borrower defaults. When a borrower defaults and a bank needs to foreclose, LPS helps process paperwork the bank uses in court.

LPS was recently referenced in a bankruptcy case involving Sylvia Nuer, a Bronx, N.Y., homeowner who had filed for protection from creditors in 2008.

Continue reading … The Wall Street Journal

[youtube=http://www.youtube.com/watch?v=hY4aRn6bWKg]

[youtube=http://www.youtube.com/watch?v=3tL8mNL4bYw]

[youtube=http://www.youtube.com/watch?v=9UbE6ryohJY]

and this is their video of the Minnesota Branch where they worry about “security”. I wonder if Christina Allen, Topako Love, Eric Tate, Laura Hescott were in this video?? Listen towards (4:41), they use “Delivery” or “Destruction“.

[youtube=http://www.youtube.com/watch?v=Ec4LpBa5nsk]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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5 Responses to “U.S. Probes Foreclosure-Data Provider:Lender Processing Services Unit Draws Inquiry Over the Steps That Led to Faulty Bank Paperwork (LPS VIDEOS)”

  1. Rayar Johnson says:

    Bank Of America
    P.O. Box 961206
    Fort Worth, TX 76161-0206
    RECON TRUST
    2380 Performance Drive, Richardson, TX 75082 Mail Stop: RGV-C4-450
    The Bank of New York
    One Wall Street New York, NY 10286 Phone: +1 212 495 1784
    Countrywide Home Loans P.O. Box 5170 Simi Valley, CA 93062-5170
    LANDSAFE TITLE
    6400 Legacy Dr.,
    Plano, TX 75024-3609, United States (877)572-5673
    Cpc Realty, LLC
    2401 21st Ave S Ste 200
    Nashville, TN 37212
    Account no: Bank of America 100*************
    In the NewsPaper: TS 10-**********
    All of the Mortgage Addresses above has giving me the run around to take my dream home.
    As an adoptive parent of four babies in Mississippi, we are facing Countrywide, Bank of America foreclosure. One of the downfalls includes Hurricane Katrina. My community is in shock after seeing the sell date in the paper. So, am I. My home was bought at $16,000. It is paid for. I consolidated and now it is approximately $90,000 owed. The consolidation was loans to try and make home improvements. I have not had a new vehicle in over eight years. Now rusty rims and other objects hold down the roof. When the Notary closer came to my home, she said sign here, here, and here for about one hundred times. The appraisal was before the bricks, dishwasher, molding, and more in completion that is still unfinished. I have been told half of the house sits on my land and half sits on someone else. They say the front door of the house is turned the wrong way. The roof is and gable is off in measurements. An agency approached me because they wanted it for the highway right of way. The title does not even state my name right. Sure, it has termites, unleveled walls, floors, windows, doors, and floors but it is a blueprint that took tireless hours and sacrifices. We had shady contractors who did rip us off. After, Katrina, forbearance was promised and modifications, I was told don’’t send money in.
    Thank you for getting in touch with us.
    Due to heavy interest in our home loan assistance programs, we are receiving a large volume of calls. A specialist will contact you within 3-5 days. Thank you for your patience. If you have questions, please call 1.800.720.3758.
    I was told to wait approval from investors is going to take some time. I have had an advocate since November 2009. Bank of America said that modification was been approved, yet, I receive a foreclosure notice. I was told that date would be postponed and then it appears in the paper anyway. I am so tired of empty promises from Countrywide and Bank Of America. I am dealing with Sexual Harassment from the Census, Misconduct from the Wayne County school system and much more. Are people trying to make insane?
    Mortgage promises has failed and job hunting has failed, President Obama please do not fail us. Please direct us, refer us to immediate help July 15,2010. please.
    These are some of the Government enforced programs, I ve found. I have heard of all of these programs and settlements, how does it apply to my four children having a roof over their heads.
    News for BANK OF AMERICA

    Land Safe
    FTC Settlement with Countrywide
    Countrywide
    The Concus Group
    CWABS
    Country Wide Settlement
    National Homeownership Retention Program
    Existing Commitments
    Home Retention Programs
    Affordability Equation
    Foreclosure Relief

    Program Overview
    This home retention program underscores Bank of America’’’’s commitment to provide our customers the resources and necessary help to sustain homeownership.

    Formalization of Existing Commitments
    We no longer offer “subprime,” “high cost” or “negative amortization” mortgages and have significantly

    Home Retention Programs
    We will waive prepayment penalties in connection with any payoff or refinance on certain qualifying subprime and Pay Option ARM loans owned by Bank of America or Countrywide.
    Loan Modification Program Details
    Subprime 2-, 3-, 5-, 7- and 10-Year Hybrid ARM
    Foreclosure Relief Program
    borrowers who become seriously delinquent We will offer eligible borrowers an FHA refinance under the HOPE for Homeowners Program to the extent available, as well as these additional program options based on product type:
    I was told to wait approval from investors is going to take some time. I have had an advocate since November 2009. Bank of America said that modification was been approved, yet, I receive a foreclosure notice. I was told that date would be postponed and then it appears in the paper anyway. These are some of the Government enforced programs, I ve found. How Mortgage promises has failed, job hunting has failed, President Obama please do not fail us. Please direct us refer us to immediate help please.
    20 JR Merrill RD
    Buckatunna, MS 39322
    yar41@juno.com
    Rayar Johnson

  2. LPS EMPLOYEE says:

    I WORK FOR LPS AND THERE WAS NEVER ANY FRAUD COMMITTED

  3. dinsfla says:

    Yup. Exactly what loyal David. J Stern employees also said… they got pink slips now.

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