02/07/2012 | FORECLOSURE FRAUD | by DinSFLA

Archive | February 7th, 2012

Arizona, Michigan and Florida set to join FORECLOSURE FRAUD Deal, Michigan to Pursue Criminal Investigation into LPS’s DOCX

Arizona, Michigan and Florida set to join FORECLOSURE FRAUD Deal, Michigan to Pursue Criminal Investigation into LPS’s DOCX

AP -

Arizona, Michigan and Florida, three of the states hit hardest by the housing crisis, will join a nationwide settlement over foreclosure abuses, officials with direct knowledge say. They will join more than 40 other states in approving a deal that would benefit many Americans who lost their homes or can’t afford their mortgages.

The three states’ involvement buoys hopes that a full 50-state deal is imminent.

Formal announcements from Arizona and Florida could come within a week, according to the officials, who spoke on condition of anonymity because they weren’t authorized to discuss the settlement publicly.

Arizona Attorney General Tom Horne said he first wants to resolve a separate foreclosure-related lawsuit his state filed against Bank of America.

Florida officials say they are still in discussions. Attorney General Pam Bondi “remains engaged in the settlement discussions in order to ensure that Floridians receive their fair share in the agreement,” she said in a statement. Other officials said Florida intends to back the deal.

Michigan announced Tuesday it would join the settlement. Officials said the state would receive about $500 million in aid.

Michigan officials also said they would continue a criminal investigation into Docx, a unit of Lender Processing Services of Jacksonville, Fla. The company is accused of using fake signatures on phony foreclosure documents. Missouri filed criminal charges against the firm and its founder Friday, saying it falsified 68 notarized deeds on behalf of mortgage lenders.

[AP]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

Romney takes money from Major Michigan Foreclosure Firm Trott & Trott PC

Romney takes money from Major Michigan Foreclosure Firm Trott & Trott PC

Romney also profited from lenders foreclosing on thousands of floridians … winning support of BFF LPS and Pam Bondi.


FREEP-

A Farmington Hills law firm that represents mortgage giants Fannie Mae and Freddie Mac in foreclosure and eviction cases has contributed $200,000 to a super PAC supporting Republican Mitt Romney for president.

That super PAC, Restore Our Future, has run ads against Romney’s GOP rival Newt Gingrich, attacking his ties to Freddie Mac and accusing him of “cashing in” on the foreclosure crisis.

The Dec. 27 contribution, disclosed Tuesday in a Federal Election Commission filing, was written from the corporate account of Trott & Trott PC. A 2010 Supreme Court decision allows corporations and unions to spend unlimited amounts on independent campaigns to support or oppose federal candidates.

Managing partner David Trott is a member of Romney’s Michigan finance committee. He and his wife also contributed $7,500 to the Romney campaign, and his employees contributed more than $11,000 to Romney.

[FREEP]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD2 Comments

Obama administration to move forward with closing Fannie Mae, Freddie Mac

Obama administration to move forward with closing Fannie Mae, Freddie Mac

This is what they do, close them down after it’s too, too late and the damage is irreversible. A ponzi scheme was all it ever was at the end with MERS.

The Washington Post-

The Obama administration plans to push forward this spring with efforts to wind down government-backed housing giants Fannie Mae and Freddie Mac and attract more private funding to mortgage markets, Treasury Secretary Timothy F. Geithner said Thursday.

Geithner told reporters that administration officials have begun more intensively exploring legislative options for overhauling the nation’s housing finance system with lawmakers on Capitol Hill, as well as with academics and outside advocacy groups.

[THE WASHINGTON POST]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

California, New York, Nevada, Florida and Massachusetts are among the handful of states that haven’t signed Foreclosure Fraud deal

California, New York, Nevada, Florida and Massachusetts are among the handful of states that haven’t signed Foreclosure Fraud deal

UPDATE: FL is signing.

This is a PR stunt! Don’t buy into the Florida bit here. AG Pam Bondi was/is front and center cheer leading this touchdown and bashed states that rejected nationwide foreclosure settlement. If anything this is to make her look good meanwhile her LPS peers are getting hammered.

So why no lawsuit against LPS? FL AG’s office subpoenaed them for quite some time and 2 states have unleashed royal hell on them.

Business Week-

California, New York, Nevada, Florida and Massachusetts are among the handful of states that haven’t signed a deal with banks over foreclosure abuses, according to state officials and two people familiar with the talks.

The holdouts include some with the highest rates of foreclosures. More than 6 percent of Nevada housing units had at least one foreclosure filing in 2011, giving it the nation’s highest foreclosure rate, according to RealtyTrac. California registered the third highest rate in 2011 with one in every 31 units having at least one foreclosure filing during the year, said the firm, which tracks foreclosures.

California Attorney General Kamala Harris and New York Attorney General Eric Schneiderman, who have been some of the most outspoken in pushing for changes to the deal, were among those who hadn’t joined as of yesterday’s deadline. More than 40 states signed on to the accord, according to Iowa Attorney General Tom Miller, who is helping to lead talks with the banks.

“Adding more numbers probably improves the political dimension of the settlement from the standpoint of the attorneys general,” said Ken Scott, a Stanford University law professor. “If you can say there were only a handful of diehards that didn’t sign on, that gives you some political protection.”

[BUSINESS WEEK]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

Three strikes and You’re Out: Lender Processing Services is Zero for April

Three strikes and You’re Out: Lender Processing Services is Zero for April

Strike 1: Nevada Office of the Attorney General ANNOUNCES indictment in massive clark county robo-signing scheme, Employed by LPS

Strike 2: MO Attorney General Chris Koster announces 136-count criminal indictments related to robo-signing in mortgage industry

Who will make it Strike 3? To Be Announced

Chip Parker-

For some time, I have been exposing the fraud that is the Lender Processing Services (and mortgage servicers in general) business model.  I have discussed how it is so revered by the mortgage servicing community because it will do anything, legal or illegal, to help a mortgage servicer foreclose your home.

It’s one thing when a small-time litigator from Jacksonville, Florida makes accusations (that’s me), and then it is another thing when 60 Minutes does it.  It’s something even more when the federal regulators recognize LPS’s shenanigans, but when a federal judge confirms everything I (and many other lawyers) have been saying for years about LPS, you know LPS is in trouble.

Who is LPS?  LPS (formerly known as Fidelity National Default Solutions) is a default servicer for one out of every two mortgages in this country.  It lurks in the shadows of the mortgage industry like a hit-man for the mob, and when LPS whacks you, you never see it coming.

[BANKRUPTCY LAW NETWORK]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

DOCX | The first case in which a senior officer of a mortgage document company was charged with crimes relating to mortgage document preparation.

DOCX | The first case in which a senior officer of a mortgage document company was charged with crimes relating to mortgage document preparation.

Action Date: February 7, 2012
Location: Boone Country, MO

DocX, LLC, a mortgage document company and a subsidiary of Lender Processing Services (“LPS”) in Jacksonville, Florida, was indicted on February 6, 2012, by a grand jury in Boone County, Missouri. Lorraine O’Reilly Brown, a former Senior Vice President of Lender Processing Services, and the founder of DocX, was also indicted. This was the first case in which a senior officer of a mortgage document company was charged with crimes relating to mortgage document preparation.

Brown and DocX were each charged with 68 counts of forgery, a class C felony in Missouri and 67 counts of False Declaration, a Class B misdemeanor.

The felony charges can each carry a term of imprisonment not to exceed seven years and a fine not to exceed $5,000 or double the gain from the crime up to $20,000. The misdemeanor charges each carry a term not to exceed six months, and a fine of $500 or double the gain up to $20,000.

The case will be prosecuted by Missouri Attorney General Chris Koster. “Today’s indictment reflects our firm conviction that when you sign your name to a legal document, it matters,” Koster said. “Mass-producing fraudulent signatures on millions of real estate documents across America constitutes forgery. When you file those documents in our state, you are committing a crime under Missouri law.

The indictment focuses on Deeds of Release, documents issued by banks and mortgage companies when a homeowner/borrower successfully pays off their loan. In some states, these are also called Satisfaction of Mortgages. The documents examined by the grand jury and identified in the indictments were signed by many different people signing the name Linda Green. This practice was first exposed in a segment of 60 Minutes that aired in 2011.

Other employees of a subsidiary of Lender Processing Services were indicted in 2011 in Nevada by Attorney General Catherine Cortez Masto. These employees notarized mortgage documents that had been signed by LPS employees using false names and false job titles.

LPS has steadfastly defended these practices and even coined a term, calling the forgeries “surrogate signing.” Regarding the use of false job titles, LPS has defended this practice by saying such titles were authorized by corporate resolutions from many different banks and mortgage companies.

But while publicly defending these practices, lawyers working for LPS have been filing thousands of “corrective” mortgage assignments in county records throughout the country. In tens of thousands of cases, employees signed the name Linda Green to mortgage documents and identified Green as an officer of Mortgage Electronic Registration Systems (“MERS”) though the real Linda Green did not qualify to serve as a MERS certifying officer because she was not an officer of her actual employer.

Conferring of officer titles to non-employees via corporate resolutions was one of the many practices challenged in a civil lawsuit brought by Illinois Attorney General Lisa Madigan against another mortgage document mill, Nationwide Title Clearing, on February 2, 2012.

Employees in the DocX office signed names to mortgage documents 4,000 times a day for several years. They most often signed false names and false officer titles to mortgage satisfactions and mortgage assignments. The assignments were very often used in foreclosure cases to prove that residential mortgage-backed trusts owned the mortgages and had the right to foreclose even though the trusts had never obtained the necessary documents during the securitization process.

These practices will be a significant part of the examination to be conducted by the mortgage securitization fraud task force, announced by President Obama during the State of the Union address. The taskforce will be co-chaired by New York Attorney General Eric Schneiderman who filed a lawsuit against MERS and three major banks on February 3, 2012. The New York lawsuit was similar to the lawsuits filed by Delaware Attorney General Beau Biden on October 27, 2011 and by Massachusetts Attorney General Martha Coakley in December, 2011.

According to the lawsuit filed by Attorney General Biden, “MERS engaged and continues to engage in a range of deceptive trade practices that sow confusion among consumers, investors, and other stakeholders in the mortgage finance system, damage the integrity of Delaware’s land records, and lead to unlawful foreclosure practices.”

The DocX mortgage documents permeate the records of almost every county recorder in the country. From July 1, 2008 through December 31, 2009, 1,742 DocX mortgage assignments were filed in Palm Beach County, transferring mortgages valued at $560,239,797. Deutsche Bank National Trust Company and American Home Mortgage Servicing were two of the most frequent users of the DocX documents, but over 30 banks and mortgage companies were clients of DocX.

 

FRAUD DIGEST by Lynn E. Szymoniak, ESQ.

Image: X-Files

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

MO Attorney General Chris Koster announces 136-count criminal indictments related to robo-signing in mortgage industry

MO Attorney General Chris Koster announces 136-count criminal indictments related to robo-signing in mortgage industry

–Boone County grand jury indicts Georgia corporation and its president for practices highlighted in 60 Minutes report –

NOTE: The following items are linked below:

New York Times story from this morning: http://www.nytimes.com/2012/02/07/business/docx-faces-foreclosure-fraud-charges-in-missouri.html?_r=1&ref=business

60 Minutes news story from August 7, 2011: http://www.cbsnews.com/video/watch/?id=7375936n&tag=mncol;lst;1

Jefferson City, Mo. – Attorney General Chris Koster today announced that a Boone County grand jury has handed down 136-count indictments against DOCX, LLC and its founder and former president, Lorraine Brown, for forgery and making a false declaration related to mortgage documents processed by DOCX.

“The grand jury indictment alleges that mass-produced fraudulent signatures on notarized real estate documents constitutes forgery,” Koster said. “Today’s indictment reflects our firm conviction that when you sign your name to a legal document, it matters,” Koster said.

The forgery and false declaration counts each allege that the person whose name appears on 68 notarized deeds of release on behalf of the lender is not the person who actually signed the paperwork. The documents were then submitted to the Boone County Recorder of Deeds as though they were genuine.

Koster’s office requested the indictment, and the Attorney General’s Office will prosecute the case.

The indictments are the result of months of investigation by the Attorney General’s Office into the robo-signing scandal that injected thousands of questionable mortgage documents into the market. When the practice began to come to light, several major lenders temporarily suspended foreclosures in 2010. DOCX’s role in the robo-signing process came to national attention when 60 Minutes reported that Linda Green, an employee of DOCX, purportedly signed thousands of mortgage-related documents on behalf of several different banks and in multiple handwritings. The 68 documents on which the indictments are based were purportedly signed by Linda Green, but were allegedly signed by someone else.

Forgery is a Class C felony and False Declaration is a Class B misdemeanor. If convicted on the most serious count, Brown could face up to seven years in prison for each count. DOCX could be fined up to $10,000 for each forgery conviction and $2,000 for each false declaration conviction.

The charges against DOCX and Lorraine Brown are merely accusations and, as in all criminal cases, the defendant is innocent until or unless proved guilty in a court of law.

The Attorney General’s investigation into this practice continues.

source: http://ago.mo.gov

Scribd

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

Title Issues? Defective Paperwork? Banks Pay Homeowners to Avoid Foreclosures

Title Issues? Defective Paperwork? Banks Pay Homeowners to Avoid Foreclosures

Cecala of Inside Mortgage Finance said he wonders whether lenders are making big payments on properties with underlying title problems. Evan Berlin, managing partner of Berlin Patten, a real estate law firm in Sarasota, Florida, said representatives of a large bank told him the incentives are primarily given to borrowers when it doesn’t have the proper paperwork needed to win its foreclosure case. He declined to name the bank for publication.

Prashant Gopal-

Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe.

Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a buyer than the seller’s outstanding loan. Now banks have decided the deals are faster and less costly than foreclosures, which have slowed in response to regulatory probes of abusive practices. Banks are nudging potential sellers by pre-approving deals, streamlining the closing process, forgoing their right to pursue unpaid debt and in some cases providing large cash incentives, said Bill Fricke, senior credit officer for Moody’s Investors Service in New York.

Losses for lenders are about 15 percent lower on the sales than on foreclosures, which can take years to complete while taxes and legal, maintenance and other costs accumulate, according to Moody’s. The deals accounted for 33 percent of financially distressed transactions in November, up from 24 percent a year earlier, said CoreLogic Inc., a Santa Ana, California-based real estate information company.

Karen Farley hadn’t made a mortgage payment in a year when she got what looked like a form letter from her lender.

“You could sell your home, owe nothing more on your mortgage and get $30,000,” JPMorgan Chase & Co. (JPM) said in the Aug. 17 letter obtained by Bloomberg News.

[BLOOMBERG]

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments

INDICTMENT | State of Missouri vs DOCX, LLC a Georgia corporation

INDICTMENT | State of Missouri vs DOCX, LLC a Georgia corporation

IN THE CIRCUIT COURT OF BOONE COUNTY, MISSOURI

STATE OF MISSOURI
Plaintiff,

v.

DOCX, LLC,
a Georgia corporation
Registered Agent:
CT Corporation System
1201 Peachtree Street, NE
Atlanta, Georgia 30361
Defendant.

 

Scribd

© 2010-14 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.






Posted in STOP FORECLOSURE FRAUD0 Comments


GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Chip Parker, www.jaxlawcenter.com
RR Compliance Consulting Inc was established to provide training and support services to the Loss Mitigation Consulting Community.  There is a huge void in the market for this training since those who are truly practicing in the field have neither the time nor interest in providing this training.
Jamie Ranney, www.NantucketLaw.pro
LATEST TOP FORECLOSURE FRAUD CASES OPINIONS
Advertise your business on StopForeclosureFraud.com

Archives

Please Support Me!

All Of These Are Troll Comments