Mortgage-servicer faces allegations of foreclosure fraud

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Mortgage-servicer faces allegations of foreclosure fraud

Mortgage-servicer faces allegations of foreclosure fraud

WMC Action News 5 –

A Shelby County Circuit Court lawsuit and government records revealed a pattern of fraud allegations against mortgage-servicing company Nationstar Mortgage.

The WMC Action News 5 Investigators launched an investigation of the Dallas-based mortgage-servicer after it foreclosed on the Cordova, Tennessee, home of Linda Howard. Howard and her husband had owned the home since 1998. Her attorney Kevin Snider produced records that proved Howard never missed a payment since Nationstar Mortgage started servicing her mortgage in 2011.

Also according to the records, Nationstar Mortgage suddenly started refusing her monthly payments in February of this year. From February to May, the company sent her payments back with statements posting thousands of dollars in unexplained fees like “property inspections” and “disbursement insurance.”

“I wrote them. I called them. And I got no response,” Howard said.

[WMC Action News 5]

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3 Responses to “Mortgage-servicer faces allegations of foreclosure fraud”

  1. crittermom says:

    Oh, my! Imagine the injustice! *gasp*
    NOTHING NEW HERE.

    So they think this OLD, OLD, OLD news is new?
    Where the hell have these news folks been over the past decade?
    With their heads buried in a hole? Hello?

    Chase Bank did the same thing to me, except they foreclosed on me first (while I was current on pymts), and THEN began sending future pymts back, taking my ranch of 20 years.

    Chase destroyed the records of my pymts, as they explained in a letter to my AG’s ofc, yet they were still allowed to steal my home. What?!

    I was current on pymts on a $140,000 loan.
    They ‘sold’ my home to Freddie Mac for $50,000 more than they said I owed.

    Freddie Mac then sold it immediately on the open market for only……… $65,000!!!

    That was 5 yrs ago. It was worth more than that at the time (40+ acre ranch with home, fenced, 2 wells, horse set-up, outbuildings…).

    Today it’s worth probably $400,000 or more (it’s in Colorado), just for the land.

    I contacted every govt branch & was told by EACH & EVERY ONE “Sorry we can’t help you. You may want to hire a lawyer.” (Yes, I have that in writing, too)

    Yeah, sure.
    Unless you have a really good foreclosure defense atty that costs more than you owe on your home, you will LOSE.
    But it’ll take years in court fighting before that happens. The bank is hoping you’ll die of old age before then.

    I HATE the TBTJ banks, as well as the govt that allowed this.

    Now 65 yrs old. That was my retirement, as well, since I’d put all my money into remodeling after getting approval for a B&B back in the early 90’s. I’d planned for years & tried to do everything right.

    I want my country back, & if it takes a bloody revolution by us citizens to stop this fraud, I’ll be in the front lines.
    I’ve lost all but my life already, anyway, & have suffered 5 yrs of hell trying to even survive, with no end in sight.

    It seems it’s time for more than just a ‘political revolution’.

    Hang ’em, & hang ’em high!

  2. Randall Stephens says:

    Crittermom,

    You haven’t lost all but your life. You still have your integrity! In my mind that counts for a lot. Cold comfort, at best, I expect. That and $2.23 will buy you a medium cup of coffee at Starbucks (I had to call and ask their price).

    The case of the TN woman is another example of mortgage servicing fraud. My struggle has only been about 9 years, but I know others that have much longer experience.

    One I know began in 1996, dealing with Fairbanks (since then morphing into Select Portfolio Servicing). Another began … I’m uncertain of the year, but at least by 2002 … with Litton (since morphing first into Goldman Sachs, and then into Ocwen).

    You’re right that the business model isn’t new.

    Doubtful I’ll start the fight, but if it does start I’ll join in. Maybe we’ll meet on the front line.

  3. mike says:

    I’m in the same predicament with wells Fargo .they modified our loan told not to pay for 3 months.then we paid them over 228,000 dollars in 20 months they charged late charges every month when pymts were on time forced placed insurance when we had insurance. They basically stole our 43 unit apartment building on a whole city block. This foreclosure was induced for me to lose. Had 8 attorneys and I still lost. This has been over 40 years of hard work that my parents and I have worked for and being good citizens. They just came in and basically took our business with the help of the corrupt courts. And the government just sits and does nothing but collect the fines(bribes) to do nothing to help us. How can fight this egregious crime.

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