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MUST WATCH PBS VIDEOS ON: MERSCORP CEO, Attorney Kenneth Eric Trent, Robo Signers and CITIMORTGAGE

MUST WATCH PBS VIDEOS ON: MERSCORP CEO, Attorney Kenneth Eric Trent, Robo Signers and CITIMORTGAGE

HOMEOWNER
vs.
ROBO SIGNERS

Watch the full episode. See more Nightly Business Report.

SOURCE: PBS

Related Links:

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Take Two: *New* Full Deposition of Law Office of David J. Stern’s Cheryl Samons

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Law Offices of David J. Stern, MERS | Assignment of Mortgage NOT EXECUTED but RECORDED

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Cheryl Samons | No Signature, No Notary, 1 Witness…No Problem!

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STERN’S CHERYL SAMONS| SHANNON SMITH Assignment Of Mortgage| NOTARY FRAUD!

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



Posted in assignment of mortgage, Cheryl Samons, citimortgage, CONTROL FRAUD, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., notary fraud, robo signers1 Comment

FLORIDA AG ISSUES SUBPOENAS TO LENDER PROCESSING SERVICES (LPS) & DOCX 10-13-2010

FLORIDA AG ISSUES SUBPOENAS TO LENDER PROCESSING SERVICES (LPS) & DOCX 10-13-2010

Today the Florida Attorney General issued Subpoenas Duces Tecum’s to both Lender Processing Services Inc. and to a subsidiary DOCX. This involves employees past or present, the four foreclosure firms currently being investigated.

Both Assistant AG’s “McCollum’s Angels” June Clarkson and Theresa Edwards are doing an outstanding job!

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AG_Subpoena_DT-to-Docx_

AG_Subpoena_LPS

STATE OF FLORIDA
OFFICE OF THE ATTORNEY GENERAL
DEPARTMENT OF LEGAL AFFAIRS

______________________________________
ECONOMIC CRIMES
INVESTIGATIVE SUBPOENA DUCES TECUM

“You,” “Your” or “DOC X” as used herein means DOCX, L.L.c. and any ofthe respondents, their agents and employees or any “affiliate” of the aforementioned entities, as that term is herein defined. Your agents include but are not limited to your officers, directors, attorneys, accountants, CPA’s, advertising consultants, or advertising account representatives. Any document in the possession ofyou, your affiliates, your agents or your employees is deemed to be within your possession or control. You have the affirmative duty to contact your agents, affiliates and employees and to obtain documentation from them, if such documentation is responsive to this subpoena.

B. Unless otherwise indicated, documents to be produced pursuant to this subpoena should include all original documents prepared, sent, dated, received, in effect, or which otherwise came into existence at any time. If your “original” is a photocopy, then the photocopy would be and should be produced as the original.

C. This subpoena duces tecum calls for the production of all responsive documents in your possession, custody or control without regard to the physical location ofsaid documents.

D. “And” and “or” are used as terms of inclusion, not exclusion.

E. The documents to be produced pursuant to each request should be segregated and specifically identified to indicate clearly the particular numbered request to which they are responsIve.

F. In the event that you seek to withhold any document on the basis that is properly entitled to some privilege or limitation, please provide the following information:

1. A list identifying each document for which you believe a limitation exists;

2. The name of each author, writer, sender or initiator of such document or thing, if any;

3. The name of each recipient, addressee or party for whom such document or thing was intended, ifany;

4. The date of such document, if any, or an estimate thereof so indicated if no date appears on the document;

5. The general subject matter as described in such document, or, if no such description appears, then such other description sufficient to identify said document; and

6. The claimed grounds for withholding the document, including, but not limited to, the nature of any claimed privilege and grounds in support thereof.

G. For each request, or part thereof, which is not fully responded to pursuant to a privilege, the nature of the privilege and grounds in support thereof should be fully stated.

H. If you possess, control or have custody of no documents responsive to any of the numbered requests set forth below, state this fact in your response to said request.

1. For purposes of responding to this subpoena, the term “document” shall mean all writings or stored data or information ofany kind, in any form, including the originals and all nonidentical copies, whether different from the originals by reason of any notation(s) made on such copies or otherwise, including, without limitation: correspondence, notes, letters, telegrams, minutes, certificates, diplomas, contracts, franchise agreements and other agreements, brochures, pamphlets, forms, scripts, reports, studies, statistics, inter-office and intra-office communications, training materials, analyses, memoranda, statements, summaries, graphs, charts, tests, plans, arrangements, tabulations, bulletins, newsletters, advertisements, computer printouts, teletype, telefax, microfilm, e-mail, electronically stored data, price books and lists, invoices, receipts, inventories, regularly kept summaries or compilations of business records, notations of any type of conversations, meetings, telephone or other communications, audio and videotapes; electronic, mechanical or electrical records or representations of any kind (including without limitation tapes, cassettes, discs, magnetic tapes, hard drives and recordings to include each document translated, if necessary, through detection devices into reasonably usable form).

1. For purposes of responding to this subpoena, the term “affiliate” shall mean: a corporation, partnership, business trust, joint venture or other artificial entity which effectively controls, or is effectively controlled by you, or which is related to you as a parent or subsidiary or sibling entity. “Affiliate” shall also mean any entity in which there is a mutual identity of any officer or director. “Effectively controls” shall mean having the status of owner, investor (if 5% or more of voting stock), partner, member, officer, director, shareholder, manager, settlor, trustee, beneficiary or ultimate equitable owner as defined in Section 607.0505(11)(e), Florida Statutes.

K. The term “Florida affiliates” shall mean those of your affiliates which do business in Florida or which are licensed to do business in Florida.

L. If production of documents or other items required by this subpoena would be, in whole or in part, unduly burdensome, or if the response to an individual request for production may be aided by clarification of the request, contact the Assistant Attorney General who issued this subpoena to discuss possible amendments or modifications of the subpoena, within five (5) days of receipt ofsame.

M. Documents maintained in electronic form must be produced in their native electronic form with all metadata intact. Data must be produced in the data format in which it is typically used and maintained. Moreover, to the extent that a responsive Document has been electronically scanned (for any purpose), that Document must be produced in an Optical Character Recognition (OCR) format and an opportunity provided to review the original Document. In addition, documents that have been electronically scanned must be in black and white and should be produced in a Group IV TIFF Format (TIF image format), with a Summation format load file (dii extension). DII Coded data should be received in a (Comma-Separated Values) CSV format with a pipe (I) used for multivalue fields. Images should be single page TIFFs, meaning one TIFF file for each page of the Document, not one .tifffor each Document. Ifthere is no text for a text file, the following should be inserted in that text file: “Page Intentionally Left Blank.”

Moreover, this Subpoena requires all objective coding for the production, to the extent it exists. For electronic mail systems using Microsoft Outlook or LotusNotes, provide all responsive emails and, if applicable, email attachments and any related Documents, in their native file format (i.e., .pst for Outlook personal folder, .nsf for LotusNotes). For all other email systems, provide all responsive emails and, if applicable, email attachments and any related Documents in OCR and TIFF formats as described above.

P. The relevant time period for the present request shall be from January 1, 2006 to present unless otherwise specifically stated. YOU ARE HEREBY COMMANDED to produce at said time and place all documents, as defined above, relating to the following subjects:

1. Copies ofall “Network Agreements” between DOCX and any law firm with offices located in the State of Florida.

2. Copies of any and all underlying documentation that allows for your employee or ex-employee, Linda Green to sign documents in the following capacities:

a. Vice President of Loan Documentation, Wells Fargo Bank, N.A. successor by merger to Wells Fargo Home Mortgage, Inc.; ;

b. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for American Home Mortgage Acceptance, Inc.;

c. Vice President, American Home Mortgage Servicing as successor-in-interest to Option One Mortgage Corporation;

d. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for American Brokers Conduit;

e. Vice President & Asst. Secretary, American Home Mortgage Servicing, Inc., as servicer for Ameriquest Mortgage Corporation;

f. Vice President, Option One Mortgage Corporation;

g. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for HLB Mortgage;

h. Vice President, American Home Mortgage Servicing, Inc.;

1. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for Family Lending Services, Inc.;

J. Vice President, American Home Mortgage Servicing, Inc. as Successor -ininterest to Option One Mortgage Corporation;

k. Vice President, Argent Mortgage Company, LLC by Citi Residential Lending, Inc., attorney-in-fact;

1. . Vice President, Sand Canyon Corporation f/kJal Option One Mortgage Corporation;

m. Vice President, Amtrust Funsing (sic) Services, Inc., by American Home Mortgage Servicing, Inc., as Attorney-in -fact;

n. Vice President, Seattle Mortgage Company.

3. Copies of every document signed in any capacity by Linda Green.

4. Copies of any and all underlying documentation that allows for your employee or ex-employee, Korell Harp to sign documents in any capacity for any lender and/or servicing company.

5. Copies of any and all underlying documentation that allows for your employee or ex-employee, Jessica Ohde to sign documents in any capacity for any lender and/or servicing company.

6. Copies of any and all underlying documentation that allows for your employee or ex-employee, Pat Kingston to sign documents in any capacity for any lender and/or servicing company.

7. Copies of any and all underlying documentation that allows for your employee or ex-employee, Christina Huang to sign documents in any capacity for any lender and/or servicing company.

8. Copies of any and all underlying documentation that allows for your employee or ex-employee, Tywanna Thomas to sign documents in any capacity for any lender and/or servicing company.

9. All policy and procedure manuals and/or training materials regarding the methods and timing that DOCX uses, including without limitation relating to the drafting and/or execution of foreclosure and mortgage related documents, including but not limited to Assignments of Mortgage, Satisfactions ofMortgage and Affidavits ofany and all kind.

10. A list ofall employees, dates ofhire and termination, and their duties, including whether or not they provide any notary services for DOCX.

11. All documents in your possession regarding any contracts with Florida Default Law Group, P.L., The Law Offices of David J. Stem, P.A., Shapiro & Fishman, L.L.P. and The Law Offices of Marshall C. Watson, P.A., including contracts regarding payments to or from any of those entities.

12. Documents relating to the relationship between DOCX and NewTrac and/or NewInvoice, including but not limited to, documents relating to the types ofdocuments that are or can be generated or are requested to be generated.

13. Any price lists published in any manner to prospective customers, whether by printed or electronic means.

14. All communications between DOCX and Florida Default Law Group, P.L., The Law Offices of David J. Stem, P.A., Shapiro & Fishman, L.L.P. or The Law Offices ofMarshall C. Watson, P.A. relating to procedures, policies, instructions or performance ofthe creation, backdating, modification, amendment, or other alteration ofany real property-related transactional document or records, including assignments, satisfactions ofmortgage, affidavits, notes, allonges, or other documents filed in any court.

15. Ledgers ofall financial transactions between DOCX and Florida Default Law Group, P.L., The Law Offices of David J. Stem, P.A., Shapiro & Fishman, L.L.P. or The Law Offices of Marshall C. Watson, P .A.

16. Ledgers ofall financial transactions between DOCX and any title company, recording service, process server, or any other entity that provides payments to DOCX in connection with any services rendered in connection with any residential foreclosure.

17. Ledgers ofall financial transactions between DOCX and any title company, recording service, process server, or any other entity to whom DOCX provides payment(s) in connection with any services rendered in connection with any residential foreclosure.

WITNESS the FLORIDA OFFICE OF THE ATTORNEY GENERAL in Fort Lauderdale, Florida, this 13th day of October, 2010.

June M. Clarkson
Assistant Attorney General
Florida Bar Number: 785709
OFFICE OF THE ATTORNEY GENERAL 110 S.E. 6th Street, 10th Floor
Fort Lauderdale, Florida 33301
Telephone: 954-712-4600
Facsimile: 954-712-4658

Theresa B. Edwards
Assistant Attorney General
Florida Bar Number: 252794

NOTE: In accordance with the Americans with Disabilities Act of 1990, persons needing a special accommodation to participate in this proceeding should contact George Rudd, Assistant Attorney General at (954) 712-4600 no later than seven days prior to the proceedings. Ifhearing impaired, contact the Florida Relay Service 1-800-955-8771 (TDD); or 1-800-955-8770 (Voice), for assistance.

AUTHORITY

Florida Statute 501.206

501.206 Investigative powers of enforcing authority.(

1) If, by his own inquiry or as a result ofcomplaints, the enforcing authority has reason to believe that a person has engaged in, or is engaging in, an act or practice that violates this part, he may administer oaths and affinnations, subpoena witnesses or matter, and collect evidence. Within 5 days excluding weekends and legal holidays, after the service ofa subpoena or at any time before the return date specified therein, whichever is longer, the party served may file in the circuit court in the county in which he resides or in which he transacts business and serve upon the enforcing authority a petition for an order modifying or setting aside the subpoena. The petitioner may raise any objection or privilege which would be available under this chapter or upon service of such subpoena in a civil action. The subpoena shall infonn the party served of his rights under this subsection.

(2) If matter that the enforcing authority seeks to obtain by subpoena is located outside the state, the person subpoenaed may make it available to the enforcing authority or his representative to examine the matter at the place where it is located. The enforcing authority may designate representatives, including officials ofthe state in which the matter is located, to inspect the matter on his behalf, and he may respond to similar requests from officials ofother states.

(3) Upon failure ofa person without lawful excuse to obey a subpoena and upon reasonable notice to all persons affected, the enforcing authority may apply to the circuit court for an order compelling compliance.

(4) The enforcing authority may request that the individual who refuses to comply with a subpoena on the ground that testimony or matter may incriminate him be ordered by the court to provide the testimony or matter. Except in a prosecution for perjury, an individual who complies with a court order to provide testimony or matter after asserting a privilege against selfincrimination to which he is entitled by law shall not have the testimony or matter so provided, or evidence derived there from, received against him in any criminal investigation proceeding.

(5) Any person upon whom a subpoena is served pursuant to this section shall comply with the tenns thereof unless otherwise provided by order of the court. Any person who fails to appear with the intent to avoid, evade, or prevent compliance in whole or in part with any investigation under this part or who removes, destroys, or by any other means falsifies any documentary material in the possession, custody, or control of any person subject to any such subpoena, or knowingly conceals any relevant infonnation with the intent to avoid, evade, or prevent compliance shall be liable for a civil penalty of not more than $5,000, reasonable attorney’s fees, and costs.

Affidavit of Service Attached

RELATED LINK:

LPS 101

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



Posted in assignment of mortgage, concealment, conspiracy, CONTROL FRAUD, deed of trust, DOCX, FDLG, florida default law group, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, jeff carbiener, Lender Processing Services Inc., LPS, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Notary, notary fraud, STOP FORECLOSURE FRAUD, stopforeclosurefraud.com1 Comment

BREAKING!!!!! JPMorgan Chase DROPS MERS

BREAKING!!!!! JPMorgan Chase DROPS MERS

JPMorgan exits electronic mortgage tracking system

(AP) –

NEW YORK — JPMorgan Chase’s CEO says the bank has stopped using the electronic mortgage tracking system used by major financial institutions.

Lawyers have argued in court proceedings that the system is unable to accurately prove ownership of mortgages.

JPMorgan Chase & Co. and other banks have suspended some foreclosures following allegations of paperwork problems in thousands of cases.

JPMorgan’s CEO, Jamie Dimon, made the announcement in a conference call Wednesday to discuss the bank’s quarterly earnings.


Continue reading…ASSOCIATED PRESS


Posted in assignment of mortgage, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, jpmorgan chase, STOP FORECLOSURE FRAUD2 Comments

ATTORNEY GENERAL CUOMO EXPANDS PROBE OF NEW YORK FORECLOSURE ACTIONS

ATTORNEY GENERAL CUOMO EXPANDS PROBE OF NEW YORK FORECLOSURE ACTIONS

Demands information from Bank of America, JP Morgan Chase, Wells Fargo and GMAC Mortgage/Ally ~Calls for suspension of foreclosures by mortgage servicers engaged in “robo-signing” in New York until accuracy of court documents and integrity of process are assured

NEW YORK, NY (October 12, 2010) – Attorney General Andrew M. Cuomo today announced that he is seeking information from four major mortgage servicers – Bank of America, JP Morgan Chase, Wells Fargo and GMAC Mortgage/Ally – concerning the filing of affidavits that falsely attest the signer has personal knowledge of the facts presented in home foreclosure proceedings, a practice known as “robo-signing.”

In view of the prevalence of this practice in the industry, Cuomo also called on mortgage servicers engaged in “robo-signing” in New York to immediately suspend all foreclosure actions in the state until they correct their procedures to comply with New York law and can assure the public and the courts that integrity has been restored.

“I will not allow New Yorkers to lose their homes due to mortgage goliaths that buck the system by submitting affidavits signed without knowledge of the facts,” said Attorney General Cuomo. “Such conduct is a fraud upon our courts and a slap in the face of New Yorkers struggling to get by in this economy. My office will continue to root out these practices so homeowners receive the full protections afforded by our judicial system.”

Recent reports indicate that employees of these mortgage servicers routinely signed affidavits submitted in foreclosure proceedings without personal knowledge of the underlying facts or verification of loan file information, and without even reading the documents they signed. This practice, known as “robo-signing,” has tainted the integrity of the foreclosure process by which homeowners in New York lose their homes. Bank of America, JP Morgan Chase and GMAC Mortgage announced that they were temporarily halting pending foreclosures, while Wells Fargo has not suspended foreclosures despite the deficiencies uncovered.

Attorney General Cuomo is calling on these mortgage servicers to submit documents and information to his office concerning how foreclosure documents are prepared, verified, attested to and notarized, and how required notices are provided to New York homeowners. The letters request that the mortgage servicers stop re-filing foreclosures that had been suspended (and in Wells Fargo’s case, cease proceeding with pending foreclosures) until the Attorney General’s Office is assured that reliable and fair procedures are in place and that accurate, trustworthy documentation will be submitted to the New York courts. The letters also request that the mortgage servicers refrain from filing any new foreclosures until they can provide assurances that their procedures comply with New York law and are neither tainted nor inaccurate.

Because of the gravity of these transgressions and the high volume of foreclosures, Attorney General Cuomo is calling on all mortgage servicers engaged in “robo-signing” in New York to immediately suspend all pending foreclosure actions in the state, including evictions and foreclosure sales. Cuomo is also requesting that the mortgage servicers not file any new foreclosures until the companies correct their procedures.

Tens of thousands of New Yorkers have been devastated by the foreclosure crisis. In fact, the foreclosure rates in Nassau and Suffolk Counties rank among the ten highest in the nation. More than 60,000 New York homes are currently in foreclosure, and 130,000 New York homeowners have received pre-foreclosure notices this year after falling behind on their mortgage payments.

In addition to his office’s review of Bank of America, Chase, Wells Fargo and GMAC Mortgage/Ally, Attorney General Cuomo is working with other state attorneys general, banking regulators and other interested parties to assess the veracity of servicers’ foreclosure filings and ensure the fairness and accuracy of their processes.

Attorney General Cuomo advises New York homeowners who are facing foreclosure proceedings to do the following:

  • Contact the court to find out the status of your foreclosure proceeding.
  • Seek representation or advice from a qualified attorney. If necessary, contact your local bar association or legal services office for a referral. If you are unable to retain counsel, carefully review any documents filed thus far with the court to ensure their accuracy.
  • If you have not done so already, immediately contact your lender or servicer to discuss available alternatives to foreclosure such as a loan modification.
  • For a general description of the foreclosure process, refer to www.nyprotectyourhome.com/fc_timeline.html.
  • Consult with a government-approved housing counseling agency. To find counselors approved by the U.S. Department of Housing and Urban Development (HUD) in your local area, call 800-569-4287 or visit www.hud.gov. A list of housing counselors also can be found via the NYS Banking Department at www.banking.state.ny.us.
  • Call HOPE NOW at 1-888-995-HOPE. HOPE NOW is an alliance of housing counselors, mortgage companies, investors and other mortgage market participants that provides free foreclosure prevention assistance.
  • If you live in New York City, call 311 to schedule free foreclosure counseling sessions at the Center for New York City Neighborhoods.

New York homeowners who believe their homes were foreclosed based upon false or inaccurate documents filed in court by their lender or servicer should seek representation from an attorney. They may also file a complaint with the New York Attorney General’s Bureau of Consumer Frauds & Protection by calling 800-771-7755 or visiting www.ag.ny.gov.

The investigation, led by Special Deputy Attorney General for Consumer Frauds & Protection Joy Feigenbaum, is being handled by Special Counsel Mary Alestra, Assistant Attorney General Brian Montgomery and Deputy Bureau Chief Jeffrey Powell of the Bureau of Consumer Frauds & Protection under the direction of Executive Deputy Attorney General for Economic Justice Maria Vullo and Deputy Attorney General for Economic Justice Michael Berlin.


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



Posted in assignment of mortgage, bank of america, CONTROL FRAUD, corruption, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, GMAC, investigation, jpmorgan chase, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., rmbs, robo signers, securitization, servicers, STOP FORECLOSURE FRAUD, Supreme Court, Susan Chana Lask, Violations, washington mutual, wells fargo6 Comments

BLOOMBERG: Citigroup Stops Using Foreclosure Law Firm Under Investigation in Florida

BLOOMBERG: Citigroup Stops Using Foreclosure Law Firm Under Investigation in Florida

By Dakin Campbell and Donal Griffin – Oct 12, 2010 12:00 AM ET

Citigroup Inc. said it stopped steering foreclosure work to a Florida law firm whose court filings to support home seizures are under investigation by the state’s attorney general.

The bank, which is proceeding with seizures as some rivals stop to recheck documents, had used the Law Offices of David J. Stern PA. Florida Attorney General Bill McCollum said Aug. 10 it is examining whether Stern and two other firms filed “improper documentation” with the state’s courts to speed proceedings.

“Pending the outcome of the AG’s investigation, Citi is not referring new matters to this firm,” the New York-based bank said in an e-mailed statement. Citigroup services loans for government-sponsored entities, such as Fannie Mae and Freddie Mac. Stern “was approved by the GSEs during the time in which it was retained by Citi,” the bank said.

Lawmakers, attorneys general and consumer groups have pressed mortgage firms to follow Bank of America Corp., the biggest U.S. lender, which last week suspended all foreclosures to check whether faulty documents were used to confiscate homes. JPMorgan Chase & Co. and Ally Financial Inc.’s GMAC Mortgage unit froze seizures or evictions in Florida and 22 other states. Citigroup said last week it doesn’t plan to join them.

McCollum’s office “hasn’t made any charges or allegations of fault,” said Jeffrey Tew, an outside attorney for Plantation, Florida-based Stern, who declined to discuss its work for Citigroup. “I believe they’re a client. I can’t go into any details.”

Continue reading…BLOOMBERG

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



Posted in assignment of mortgage, CitiGroup, djsp enterprises, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, Law Offices Of David J. Stern P.A., notary fraud0 Comments

FL Attorney General Files A Motion for Rehearing to Judge’s Ruling in Shapiro & Fishman Investigation

FL Attorney General Files A Motion for Rehearing to Judge’s Ruling in Shapiro & Fishman Investigation

Attorney General McCollum I applaud you for STANDING UP for Florida!

Assistant AG’s June M. Clarkson and Theresa B. Edwards what an amazing job! Thank you.

Investigate the law suit Shapiro and Stern had against each other…You might just find missing pieces there.

The facts are the facts…crystal clear. This glass is not half full but spilling out the rim of the glass!

Attorney General Bill McCollum today filed a Motion for Rehearing on last week’s ruling by Circuit Judge Jack Cox that the Attorney General could not investigate the Shapiro & Fishman law firm for the firm’s alleged involvement in presenting fabricated documents to the courts in foreclosure actions to obtain final judgments against homeowners. The Attorney General is currently investigating four law firms, The Law Offices of Marshall C. Watson, P.A.; Shapiro & Fishman, LLP, the Law Offices of David J. Stern, P.A., and Florida Default Law Group, PL for allegedly engaging in these practices.


[ipaper docId=39125376 access_key=key-9hpgp1r3itfgcl5uvog height=600 width=600 /]

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



Posted in CONTROL FRAUD, corruption, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, Law Offices Of David J. Stern P.A., law offices of Marshall C. Watson pa, shapiro & fishman pa, STOP FORECLOSURE FRAUD, trade secrets1 Comment

What is Alter Ego Liability?

What is Alter Ego Liability?

THIS IS NOT Intended to Be Construed or Relied upon as COMPETENT LEGAL ADVICE—Readers are urged to obtain competent legal representation to review their facts. I am not an attorney and this is not legal advice. I’m trying to gather a few things in order for research…that’s all.

This is very similar to the notion of piercing the corporate veil (aside from certain technical distinctions that are being ignored for the purpose of this discussion). Owners of corporations (i.e., its shareholders) are generally not personally liable for debts, losses and liabilities of the business itself, because of limited liability. However, if those owners have acted in a way where their business is really just a shell, and not an entirely separate legal entity, a court may decide that the business is simply an alter ego, meaning the owners should be held personally liable because of their wrongful acts.

There are many things that a court will look at in determining whether alter ego liability should be applied. Typical factors include (but are not limited to) whether the company kept its own records, whether there were shares (for a corporation) or units (for an LLC) that were actually issued, whether the owners co-mingled their finances with the business entity, whether there were actually corporate directors or LLC managers running the business, how legal formalities were followed and whether the owners used the business for personal purposes. It is often a case-by-case situation, and the key here is that you should take every precaution to run your business in full compliance with the legally required formalities and use the business in a proper way in order to avoid such alter ego liability.

Uniform Fraudulent Transfer Act

Successor liability claims are often paired with alleged violations under a state law adaptation or adoption of the Uniform Fraudulent Transfer Act (“UFTA”),5such as the Delaware Uniform Fraudulent Transfer Act (“DUFTA”). Some typical factual scenarios that give rise to a successor liability claim mirror those for a claim under UFTA. For instance, a violation of DUFTA by transferring the assets of company A into company B to avoid liability, while the successor company B is a mere continuation of company A, as all of the assets were transferred, and company B retained the same management as company A, could trigger both exceptions three and four noted above as well as a fraudulent conveyance claim. See DEL. CODE ANN. tit. 6, § 1305.

DUFTA finds a fraudulent conveyance if the debtor made the transfer or incurred the obligation with “intent to hinder, delay or defraud any creditor of the debtor;” or “[w]ithout receiving a reasonably equivalent value in exchange for the transfer or obligation.” DEL. CODE ANN. tit. 6 §§ 1304(a)(2) and 1305(a); see also In re Hechinger Inc. Co. of Del., 327 B.R. 537, 551 (D. Del. 2005); China Res. Prods. (U.S.A.) v. Fayda Int’l, Inc., 856 F. Supp. 856, 863 (D. Del. 1994); In re MDIP, Inc., 332 B.R. 129, 132 (Bankr. D. Del. 2005). The debtor must also be engaged or about to engage in a business or a transaction for which the remaining assets of the debtor were “unreasonably small in relation to the business or transaction,” or intended, had a belief, or should have believed, that the debtor would “incur, debts beyond the debtor’s ability to pay as they became due.” In re MDIP, Inc., 332 B.R. at 132. If a creditor prevails on a claim under the DUFTA, the statute empowers the Court to appoint a receiver to take charge of the transferred asset or other property of the transferee. DEL. CODE ANN. tit. 6 § 1307(a).

Notably, intent under DUFTA can be found if the transfer or obligation was to an insider, if the debtor retained possession or control of the property transferred after the transfer, the transfer was of substantially all the debtor’s assets, the debtor removed or concealed assets, the debtor was insolvent or became insolvent shortly after the transfer was made or the obligation was incurred, the transfer occurred shortly before or shortly after a substantial debt was incurred, or the debtor transferred the essential assets of the business to a lienor who transferred the assets to an insider of the debtor. DEL. CODE ANN. tit. 6 § 1304(b). All of these facts, if present, would be useful in framing a successor liability claim as well.
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Sources:

http://www.quizlaw.com/business_law/what_is_alter_ego_liability.php

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LIMITATIONS TO BANKRUPTCY ALTERNATIVES: SUCCESSOR LIABILITY, THE UNIFORM FRAUDULENT TRANSFER ACT, PIERCING THE CORPORATE VEIL, AND PERSISTENT LIABILITIES.1

Rafael X. Zahralddin-Aravena2
Elliott Greenleaf, Wilmington, Delaware

ALTER EGO liability

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Related:

ALTER EGO DOCTRINE: ‘Pierce the Corporate Veil’

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



Posted in foreclosure, foreclosure fraud, foreclosures, forgery2 Comments

Statement by CEO of Mortgage Electronic Registration Systems (MERS)

Statement by CEO of Mortgage Electronic Registration Systems (MERS)

RESTON, Va. – (Business Wire) Mortgage Electronic Registration Systems (MERS) Chief Executive Officer R.K. Arnold today issued the following statement regarding the organization and clarifying certain aspects of its operations:

“MERS is one important component of the complex infrastructure of America’s housing finance system. Billions of dollars of mortgage money flow through the financial system every year. It takes many, often-unseen mechanical processes to properly get those funds into the hands of qualified homebuyers.

Technology designed to reduce paperwork has a very positive effect on families and communities. They may not see it, but these things save money and time, creating reliability and stability in the system. That’s important to keep the mortgage funds flowing to the consumers who need it.

With millions of Americans facing foreclosure, every element of the housing finance system is under tremendous strain. What we’re seeing now is that the foreclosure process itself was not designed to withstand the extraordinary volume of foreclosures that the mortgage industry and local governments must now handle.

MERS helps the mortgage finance process work better. The MERS process of tracking mortgages and holding title provides clarity, transparency and efficiency to the housing finance system. We are committed to continually ensuring that everyone who has responsibilities in the mortgage and foreclosure process follows local and state laws, as well as our own training and rules.”

Facts about MERS

(NOTE TO EDITORS: The following is attributed to MERS Communications Manager Karmela Lejarde)

FACT: Courts have ruled in favor of MERS in many lawsuits, upholding MERS legal interest as the mortgagee and the right to foreclose.

This legal right springs from two important facts:

1) MERS holds legal title to a mortgage as an agent for the owner of the loan
2) MERS can become the holder of the promissory note when the owner of the loan chooses to make MERS the holder of the note with the right to enforce if the mortgage loan goes into default.

MERS does not authorize anyone to represent it in a foreclosure unless both the mortgage and the note are in MERS possession. In some cases where courts have found against MERS, those cases have hinged on other procedural defects or improper presentation of MERS’s legal interests and rights. Citations can be found at the end of this document.*

FACT: MERS does not create a defect in the mortgage or deed of trust

Claims that MERS disrupts or creates a defect in the mortgage or deed of trust are not supported by fact or legal precedents. This is often used as a tactic by lawyers to delay or prevent the foreclosure. The mortgage lien is granted to MERS by the borrower and the seller and that is what makes MERS the mortgagee. The role of mortgagee is legal and binding and confers to MERS certain legal rights and responsibilities.

FACT: The trail of ownership does not change because of MERS

MERS does not remove, omit, or otherwise fail to report land ownership information from public records. Parties are put on notice that MERS is the mortgagee and notifications by third parties can be sent to MERS. Mortgages and deeds of trust still get recorded in the land records.

The MERS System tracks the changes in servicing rights and beneficial ownership. No legal interests are transferred on the MERS System, including servicing and ownership. In fact, MERS is the only publicly available comprehensive source for note ownership.

While this information is tracked through the MERS System, the paperwork still exists to prove actual legal transfers still occurred. No mortgage ownership documents have disappeared because loans were registered on the MERS System. These documents exist now as they have before MERS was created. The only pieces of paper that have been eliminated are assignments between servicing companies because such assignments become unnecessary when MERS holds the mortgage lien for the owner of the note.

FACT: MERS did not cause mortgage securitization

MERS was created as a means to keep better track of the mortgage servicing and beneficial rights as loans were getting bought and sold at a high rate during the late 1990s.

At the height of the housing market, low interest rates prompted some homeowners to refinance once, twice, even three times in the space of months. Banks were originating loans at more than double their usual rate. Assignments – the document that names the holder of the legal title to the lien – primarily between servicing companies, were piling up in county land record offices, awaiting recording. Many times the loans were getting refinanced before the assignments could get recorded on the old loan. The delay prevented lien releases from getting recorded in a timely manner, leaving clouds on title.

MERS was created to provide clarity, transparency and efficiency by tracking the changes in servicing rights and beneficial ownership interests. It was not created to enable faster securitization. MERS is the only publicly available source of comprehensive information for the servicing and ownership of the more than 64 million loans registered on the system. The Mortgage Identification Number (MIN), created by MERS, is similar in function to a motor vehicle VIN, which keeps track of these loans. Without MERS the current mortgage crisis would be even worse.

FACT: Lenders cannot “hide” behind MERS

MERS is the only comprehensive, publicly available source of the servicing and ownership of more than 64 million loans in the United States. If a homeowner needs to identify the servicer or investor of their loan, and it is registered in MERS, they can be helped through the MERS website or via toll-free number at 888-679-6377.

FACT: MERS fully complies with recording statutes

The purpose of recording laws is to show that a lien exists, which protects the mortgagee and any bona fide purchasers. When MERS is the mortgagee, the mortgage or deed of trust is recorded, and all recording fees are paid.

*NOTABLE LEGAL VICTORIES:

a. IN RE Mortgage Electronic Registration Systems (MERS) Litigation, a multi-district litigation case in federal court in Arizona who issued a favorable opinion, stating that “The MERS System is not fraudulent, and MERS has not committed any fraud.”

b. IN RE Tucker (9/20/2010) where a Missouri bankruptcy judge found that the language of the deed of trust clearly authorizes MERS to act on behalf of the lender in serving as the legal title holder.

c. Mortgage Electronic Registration Systems, Inc. v. Bellistri, 2010 WL 2720802 (E.D. Mo. 2010), where the court held that Bellistri’s failure to provide notice to MERS violated MERS’ constitutional due process rights.

Mortgage Electronic Registration Systems
Karmela Lejarde, 703-772-7156


Copyright © 2010 Business Wire. All rights reserved.

RELATED LINKS:

MERS 101

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NO. THERE’S NO LIFE AT MERS

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MUST READ |E-Discovery…Electronic Registration Systems WORST NIGHTMARE!

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ALTER EGO DOCTRINE: ‘Pierce the Corporate Veil’

R.K. ARNOLD Pres. & CEO Of MERS (Photo Credit) Daniel Rosenbaum for The New York Times

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Posted in assignment of mortgage, foreclosure, foreclosure mills, foreclosures, forgery, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., R.K. Arnold, robo signers, STOP FORECLOSURE FRAUD3 Comments

FORECLOSURE CRISIS by The Daily show with JON STEWART

FORECLOSURE CRISIS by The Daily show with JON STEWART

Foreclosure Crisis

The banks admit to not reading the fine print on the crappy mortgages the American taxpayers now own.

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
Foreclosure Crisis
www.thedailyshow.com

DinSFLA

Daily Show Full Episodes Political Humor Rally to Restore Sanity

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



Posted in assignment of mortgage, foreclosure, foreclosure fraud, foreclosures, forgery, robo signers, STOP FORECLOSURE FRAUD0 Comments

TAMPA TRIBUNE: TAMMIE LOU KAPUSTA DEPOSITION, AG CONFIRMS AUTHENTICITY

TAMPA TRIBUNE: TAMMIE LOU KAPUSTA DEPOSITION, AG CONFIRMS AUTHENTICITY

Fired worker says home foreclosure firm forged documents

By SHANNON BEHNKEN | The Tampa Tribune

Published: October 7, 2010

TAMPA – First, the Florida Attorney General’s Office launched an investigation into four of the state’s largest foreclosure firms, alleging made-up paperwork and forged signatures.

Then, some of the nation’s largest lenders halted home foreclosures after discovering employees had signed hundreds of thousands of documents without reading them.

Now, in a foreclosure industry bloated by the lingering effects of the housing crisis, a former employee in one of the firms under investigation describes in detail a secret system designed for speed at any cost.

Attorneys and staff members forged signatures and changed dates, casually passed around notary stamps, and notarized stacks of blank documents to be filled in later, said the employee, Tammie Lou Kapusta, in an interview with attorney general’s staff.

At the Law Offices of David J. Stern in Broward County, where Kapusta worked, long “signing tables” were set up across eight floors and employees would process 250 documents per floor each day, she said during the interview.

Continue reading…TAMPA TRIBUNE

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RELATED:

EXPLOSIVE DEPOSTION!!!! BUSTED!! DAVID J. STERN “MILL” KNEW THIS ALL ALONG…THIS FORECLOSURE FRAUD!!!

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



Posted in assignment of mortgage, Cheryl Samons, CONTROL FRAUD, foreclosure fraud, foreclosure mills, forgery, investigation, Law Offices Of David J. Stern P.A., robo signers1 Comment

Lord Have ‘MERScy’, Lenders Brace Yourselves

Lord Have ‘MERScy’, Lenders Brace Yourselves

JPMorgan, Bank of America Face `Hydra’ of State Foreclosure Investigations

By Margaret Cronin Fisk – Oct 6, 2010 12:01 AM ET

JPMorgan Chase & Co., Bank of America Corp. and Ally Financial Inc., defending allegations of fraudulent home foreclosures from customers and Congress, may face the most financial peril from investigations by state attorneys general.

Authorities in at least seven states are probing whether lenders used false documents and signatures to justify hundreds of thousands of foreclosures, and the number of these inquiries will grow, according to state officials and legal experts.

“You’re going to see a tremendous amount of activity with all the AGs in the U.S.,” Ohio Attorney General Richard Cordray said in an interview. “We have a high degree of skepticism that the corners that were cut are truly legal.”

JPMorgan, Bank of America and Ally have curtailed foreclosures or evictions in 23 states where courts have jurisdiction over home seizures.

While homeowners in those states and elsewhere must usually show damages to win a lawsuit, “attorneys general can just sue over deceptive sales practices and get penalties,” said Christopher Peterson, a University of Utah law professor who specializes in commercial and contract law.

In Ohio, penalties include fines up to $25,000 per violation, with each false affidavit or document considered a violation, according to state law enforcement officials. In Iowa, fines rise to a maximum of $40,000 for each violation.

Foreclosure Freeze

This penalty would apply to “every instance of an affidavit that was filed improperly or every time facts were attested to that weren’t true,” said Cordray. His counterpart in Connecticut, Richard Blumenthal, has called for a freeze on foreclosures and said the submissions are a “possible fraud on the court.”

Officials in Ohio and Connecticut, along with Florida, Texas, North Carolina, Iowa and Illinois, said they are investigating mortgage foreclosure practices.

Continue reading …BLOOMBERG

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



Posted in assignment of mortgage, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., STOP FORECLOSURE FRAUD3 Comments

CA CONGRESS DELEGATES SEND LETTER TO BERNAKE, HOLDER and WALSH ON FORECLOSURE FRAUD

CA CONGRESS DELEGATES SEND LETTER TO BERNAKE, HOLDER and WALSH ON FORECLOSURE FRAUD

California Democratic Congressional Delegation Urges Bank Investigations

PDF Print
 
October 5, 2010
 
Washington, D.C. – Today, California Democratic Congressional Delegation (CDCD) members sent a letter to Attorney General Holder, Federal Reserve Chair Bernanke, and Comptroller of the Currency Walsh requesting investigations into systemic wrongdoing by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures. Delegation members have received thousands of complaints from their constituents, which appear to outline a clear pattern of misconduct on the part of lenders and servicers. Recent press accounts have also reinforced the view that these institutions are routinely failing to respond in a timely manner, misplacing requested documents, and misleading both borrowers and the government about loan modifications, forbearances, and other housing related applications.  
 
“It’s clear that even after promising to work with borrowers, and receiving government incentives to do so, financial institutions are simply stringing the American people along,” noted Delegation Chair, Rep. Zoe Lofgren. “After reviewing thousands of complaints from our constituents, it appears that we aren’t dealing with isolated incidents and that a pattern of misconduct and obstruction is present.”  
 
 
 
Full Text of Letter:
 
Dear Attorney General Holder, Chairman Bernanke and Comptroller Dugan, As members of the California Democratic Congressional Delegation, we urge you and your respective agencies to investigate possible violations of law or regulations by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures.
 
Over the last few years, thousands of our constituents have reported that many financial institutions, despite good faith efforts on the part of most homeowners to work out reasonable loan modifications or simply seek forbearance of foreclosure, routinely fail to respond in a timely manner, misplace requested documents, and send mixed signals about the requirements that need to be met to avoid foreclosures. We are particularly perplexed by this apparent pattern in light of the many incentives Congress and the Obama Administration have offered to servicers and lenders to avoid foreclosures where financially viable, including subsidies and loan guarantees from taxpayers. Avoidable foreclosures end up being unnecessarily costly for homeowners, lenders and servicers, and our housing market, whose health is essential to our economic recovery.  
 
The apparent pattern reported by our constituents leads us to conclude that their problems are not just personal anecdotes anymore. Recent reports that Ally Financial (formerly GMAC) and JP Morgan may have approved thousands of unwarranted foreclosures only amplify our concerns that systemic problems exist in the ways many financial institutions have dealt with homeowners who are seeking to avoid foreclosures.  
 
who are seeking to avoid foreclosures. We are now in the third year of the worst housing crisis we have seen in decades. Far too many families in California, and across the country, continue to lose their homes. While Congress and the Obama Administration have taken steps to help mitigate the housing problem, this devastation has persisted and, in fact, worsened as the country’s unemployment rate increased. We have heard numerous stories of financial institutions being uncooperative at best or misleading and acting in bad faith at worst. These heartbreaking stories are commonplace, persisting across the state and across lenders and servicers. As you can see from the attached document, which highlights examples of casework throughout California, it appears that banks have repeatedly misled and obstructed homeowners from receiving the help Congress and the Administration have sought to provide.
 
The excuses we have heard from financial institutions are simply not credible three years into this crisis. People in our districts are hurting. We have tried to help them in the face of the many challenges they have faced in their dealings with financial institutions. It is time that banks are held accountable for their practices that have left too many homeowners without real help.
 
Sincerely,  
Zoe Lofgren 
 
 

The California Democratic Congressional Delegation consists of 34 Democratic members of the U.S. House of Representatives from California. This group outnumbers all other state House delegations – Republicans and Democrats combined.  

 [ipaper docId=38782438 access_key=key-1krlshwit8iqdv96ypqi height=600 width=600 /]

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



Posted in assignment of mortgage, congress, CONTROL FRAUD, deed of trust, DOCX, fannie mae, federal reserve board, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, Lender Processing Services Inc., LPS, MERS, MERSCORP, Moratorium, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., STOP FORECLOSURE FRAUD, stopforeclosurefraud.com, Violations, Wall Street1 Comment

VIDEO EVERYONE SHOULD WATCH: ABC NEWS ON FORECLOSURE FRAUD

VIDEO EVERYONE SHOULD WATCH: ABC NEWS ON FORECLOSURE FRAUD

Highlights:

  • State Official Moon Lights as a Robo Signer in Florida
  • Reminder to help your neighbor when in need
  • Children are confused

 

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



Posted in assignment of mortgage, CONTROL FRAUD, corruption, florida default law group, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, MERS, MERSCORP, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., notary fraud, robo signers, signatures, stopforeclosurefraud.com3 Comments

MUST WATCH VIDEO: “FREEZING FORECLOSURES” on GOOD MORNING AMERICA ABC NEWS

MUST WATCH VIDEO: “FREEZING FORECLOSURES” on GOOD MORNING AMERICA ABC NEWS

Congratulations… Tywanna Thomas makes Good Morning America. Tywanna Thomas is/was an employee of Lender Processing Services/ DOCX and these documents were executed in DOCX’s office in Alpharetta, GA.

You may see her many signatures and employers below. “It’s not just her”

“If your going to take my house away from me you better be able to prove you own my house and you have the right to take the house away” -GERRY WILLIS

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Link to the source: ABCNEWS.com
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http://abcnews.go.com/GMA/YourMoney/video/banks-freeze-faulty-foreclosures-11792395


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



Posted in assignment of mortgage, CONTROL FRAUD, DOCX, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, jeffrey stephan, Lender Processing Services Inc., LPS, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Notary, note, robo signers, Tywanna Thomas4 Comments

KENTUCKY RICO CLASS ACTION INVOLVING MERSCORP, LPS, DOCX, GMAC, DEUTSCHE BANK, US BANK et al

KENTUCKY RICO CLASS ACTION INVOLVING MERSCORP, LPS, DOCX, GMAC, DEUTSCHE BANK, US BANK et al

KABOOM!!

I have a feeling this is not the last…

[ipaper docId=38651062 access_key=key-1anw5d5ompkqlyhakwlv height=600 width=600 /]

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



Posted in assignment of mortgage, class action, deutsche bank, DOCX, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, Lender Processing Services Inc., linda green, LPS, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., RICO, robo signers, STOP FORECLOSURE FRAUD6 Comments

Max Gardner’s Rules for the Examination Of The Electronic Document Custodian

Max Gardner’s Rules for the Examination Of The Electronic Document Custodian

Written on June 22, 2010 by admin

State your full name and current position.
Provide us with your definition of a document custodian.
What is your exact job title?
What are your responsibilities?
Where are you employed?
Where does your company store original documents?
How are they stored?
If you outsource this storage, who is the outsource provider?
How do you confirm delivery to the outsource provider?
How do you retrieve original documents?
How long do you save original documents?
Do you have a written original document destruction policy?
Please explain it and produce a copy of the policy.
Do you retain images of original of all documents?
How are they retained?
Where are they retained?
How long are they retained?
What type of computer system is used for the image retention?
Do you have a Records Compliance or Management Department?
Explain how it works, who is employed there, and where it is located.
Describe all information that you store electronically.
Do you have an ESI manager?
Who, where does he or she work, what does he or she do?
What is your policy on the retention of electronically stored documents?
Do you have a written policy for ESI documents?
Do you have any automated archiving systems?
If yes, then explain how they work and how documents are achieved.
Where are the archived documents stored?
How do you save data to a file that has already been achieved?
State the name of the director or manager of your document archiving operation.
How do you store data acquired through mergers or acquisitions?
How do you retrieve historical data from the archives?
Explain the process in detail.
Do you have an organizational-wide data map or inventory of all electronically stored data?
Can you produce a copy of that map?
Do you have any litigation ready data files?
Where are they stored?
How are they created?
Who is in charge of creating these files?
Why are they created?
Is there such a file in this case?
Where is the data stored?
Do you have any electronic data stored on tapes?
Describe the data and the type of tapes?
Where are these tapes stored?
Do you maintain a disaster recovery location?
Where is it?
Do you store electronic data at this location?
How is it stored?
How long is it stored?
What types of servers are used to store the data at this location?
How long is the data stored?
Do you have a data destruction policy at the disaster location?
Please explain and produce all written protocols.
Explain how you retrieve data from the disaster location?
Explain the time and expenses involved in securing date from the disaster recovery location?
State if any data related to this case has been destroyed?
Describe the data in detail and when and under what circumstances it was destroyed.
Have you seen any notice in this case to preserve all of the ESI?
When, where and how did you see it?
Has any data related to this case been destroyed since you saw it?
Who is your Media Destruction Manager?
Where is this person located?
What are the responsibilities of this person?
Explain all of the steps your company has taken in this case to preserve ESI evidence?
Have you created a data file of ESI for this case?
When was it created?
Name all parties involved in the creation?
Where is that data filed now?
Explain all of the steps that were taken to create the ESI file for this case.
Are there any ESI that you could not find or include in the file?
If so, please explain.
If any of the data still exists, have you or anyone in your company investigated the restoration of any deleted or damaged data?
When, who did this and what did they do?
If not, then why not?
With respect to the ESI file that has been created for this case, have the documents been scrubbed for metadata?
If yes, then when, who ordered, and why?
Who was involved in the scrubbing?
Was a scrubbed metadata file created?
Who created the file and who has custody of the file?
Do you backup your data every day?
How and where is the backup data?
Who is in charge of your backup operations?
What data is backed up?
Do you back up programs and systems or just the data?
What is the difference between your backup data system and your archived data storage system?
How long is backup data retained?
What is the format for the media in the ESI file created for this case?
Did you ever stop backing up or archiving data in this case in anticipation of litigation?
If so, when, why, and who ordered such actions?
When was a litigation hold placed on the destruction of any of the ESI data related to this case?
Who issued the hold and how was it implemented?
Do you have any type of dormant document liability policy?
If so, then please explain in detail how it works?
Has any of the ESI data in this case been destroyed or deleted pursuant to a dormant document liability policy?
If so, can you identify who took such action, when it was taken, who ordered it taken, and why it was taken?
Name all parties who have access to any of the data related to this case.
Explain all security features employed by your company to prohibit the unauthorized access to any of your ESI data?
Do you keep any type of catalogue of information on tapes or other media related to historical ESI?
If so, please explain how this system works?
Where are the catalogues filed and how are they maintained?
State the names of all of the servers and the location of all such servers that contained any ESI data related to this case.
State your current policy on saving company email.
State your current archiving and backup programs with respect to email.
State all of your email format types, date ranges for retention of email, and the names of all custodians.
Please identify all types of files used by your company, the capacity of such files, the creation dates and how those dates are preserved, the modification dates and how they are recorded, and the maximum size of each file.
Does your company employ a de-duplication policy as to ESI data?
If so, please explain how it works?
Has any data in this case been subject to destruction pursuant to any such policy?
If so, identify all such ESI data.
Do any lawyers representing you in this case have access to any of your data files?
IF so, please explain the extent of such access, how it is tracked, and purpose of the same?
Have you migrated any ESI data in this case from older, disparate media sources into modern managed tools?
If so, explain in detail the older data systems, how the migration occurred, and explain the new storage media used?
Name all of the parties on the data migration team or group.
Do you have a Legal Records Management Team?
Name all of the Team members and the location?
Was the Team involved in this case?
If yes, then explain in detail the extent of their involvement.
Do you use a third-party IT vendor for ESI data capture, storage and archiving?
If so, who and how long have they been used?
Who is the on-site representative for your ESI vendor?
Does your backup vendor use DLT4, LT01 or 4MM tapes?
What type of backup software does the vendor use?
Do they use Backup Exec, NetBackup, Legato Net Worker, Trivoli Storage Manager, ArcServe, CommVault Galaxy or HP Omniback?
Describe all messaging systems used by your company.
Do you use Lotus Notes?
Do you use Novell GroupWise or any others?
How is the messaging data saved, backed up and archived?
Do you convert the messages media to any other type of media for storage?
If so, describe the media and how this is accomplished and by whom?
Explain all due diligence programs and procedures used to verify the integrity of your data?
Explain all due diligence programs and procedures used to secure and safeguard your data.
Do you maintain custody logs on the transfer of any ESI data?
What type of logs?
Who maintains and where are they located?
Do you have a “Best Practices” guide for of the operations described herein?
Can you produce it?

Source: Max Gardner Boot Camp Blog


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



Posted in bifurcate, bogus, chain in title, CONTROL FRAUD, corruption, deed of trust, deposition, foreclosure, foreclosure fraud, foreclosures, forgery, Max Gardner, mortgage, Notary, note0 Comments

WHAT LPS & THE MILLS DON’T WANT YOU TO KNOW…WHO REALLY OWNS THE NOTE!

WHAT LPS & THE MILLS DON’T WANT YOU TO KNOW…WHO REALLY OWNS THE NOTE!

Below is a document that Lender Processing Services, Inc. or it’s many subsidiaries submits by wire transmission to the foreclosure mill with instructions NOT to name the actual owner of the note on the foreclosure but in the name of the servicer!

“FORECLOSURE SHOULD BE IN THE NAME OF ”

It clearly states the names of the real parties:

  • SERVICER
  • TRUST
  • TRUSTEE/NOTE-OWNER
  • BORROWER

A foreclosure is rarely commenced under the “Real Entity.” So why do they keep this from us when they knew all along the real parties of interest? This was only discovered during an actual case or we would have never found this.

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



Posted in assignment of mortgage, chain in title, conflict of interest, CONTROL FRAUD, DOCX, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, Lender Processing Services Inc., MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., note, racketeering, RICO, scam, securitization, servicers, STOP FORECLOSURE FRAUD, stopforeclosurefraud.com, Wall Street7 Comments

MASSACHUSETTES CALLS FOR A FORECLOSURE MORATORIUM

MASSACHUSETTES CALLS FOR A FORECLOSURE MORATORIUM

Coakley begins probe, calls for foreclosure moratorium

By Herald Staff
Saturday, October 2, 2010 –

Massachusetts Attorney General Martha Coakley called on Bank of America and other major creditors to delay all foreclosure proceedings and pledged to begin her own investigation in light of recent revelations that they may not have complied with the law.

Bank of America announced Friday it was delaying foreclosures in 23 states, not including Massachusetts, as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.

“Our office has been extremely active in holding major banks and Wall Street firms accountable during this foreclosure crisis. We are concerned about the revelations that Bank of America and other major lenders have failed to properly review foreclosure documentation,” Coakley said yesterday in a statement. “Our office is now investigating this apparent failure of major creditors to follow state foreclosure law to ensure that Massachusetts homeowners are properly protected. In light of these revelations, we are asking Bank of America and other major creditors to cease foreclosure proceedings for Massachusetts homeowners until they can demonstrate that they have complied with Massachusetts law.”

Continue reading…BOSTON HERALD

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



Posted in assignment of mortgage, bank of new york, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, GMAC, MERS, MERSCORP, Moratorium, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., STOP FORECLOSURE FRAUD1 Comment

Florida Foreclosures May Soon Come to a Halt

Florida Foreclosures May Soon Come to a Halt

“They have no personal knowledge of the issue and they are supposed to. That is what these judges rely on when they issue judgments against homeowners,” said Matt Englett, KEL Law Firm.

(I-Newswire) October 2, 2010 – CENTRAL FLORIDA — Thousands of Floridians may soon be rescued from foreclosure. Last week KEL Attorneys filed a motion with the Supreme Court asking Chief Justice Canady for a stay on foreclosure cases being handled by law firms currently under investigation for document fraud.

The State Attorney General launched a formal investigation against Shapiro & Fishman, Marshall Watson and David Stern last month. Lenders hired the three big law firms, which handle 80 percent of all foreclosures in Florida, now accused of fraudulently signing documents to speed up the foreclosure process.

“They have no personal knowledge of the issue and they are supposed to. That is what these judges rely on when they issue judgments against homeowners,” said Matt Englett, KEL Law Firm.

Attorney Matt Englett has testimony from one of the people hired to just sign documentation. He describes a conference room with thousands of documents. He testified he would sign one affidavit after another, taking no more than a minute on each one.

“Time is money. The longer it takes to get the property back and sell the property, the more money they lose on that loan,” Englett said.

Englett hopes the motion will stop wrongful foreclosure it its tracks. He estimates that tens of thousands of homes may have already been wrongfully foreclosed upon, and about 80-percent of pending foreclosure actions contains fraudulent documents.

If Englett is successful, homeowners who have already lost their homes could collect thousands from their lender. And for the hundreds of others in Central Florida in the middle of foreclosure, it would buy time to save their home.

About KEL Attorneys:
Our law firm has had the honor to represent clients all over the country. We are also licensed in federal courts throughout the country and we are able to represent your case in state or federal court. In either venue, rest assured that our law firm will pursue your case aggressively and in the most cost effective manner possible.

We are not just your ordinary law firm, we operate as a full-service law firm that provides legal services nationwide and have a strong presence, with a law firm in Orlando and a law firm in Tampa. Due to size, legal expertise and handling client matters for over ten years, we can handle any legal issue or situation you may have.

Company Contact Information
KEL Attorneys
Jennifer Warriner
111 N Magnolia Ave
Suite 1600
32801
Phone : 4075131900

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



Posted in assignment of mortgage, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, Law Offices Of David J. Stern P.A., law offices of Marshall C. Watson pa, MERS, MERSCORP, Moratorium, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., shapiro & fishman pa, STOP FORECLOSURE FRAUD, Supreme Court3 Comments

Documents Show CitiMortgage and Wells Fargo Also Commit Foreclosure Fraud

Documents Show CitiMortgage and Wells Fargo Also Commit Foreclosure Fraud

More of MESCORPS “Shareholders”. Make sure you catch their “old evidence” below…and have a barf bag because this is going to make you sick!

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By ABIGAIL FIELD Posted 6:29 PM 10/01/10

Documents submitted to a court are supposed to be true as submitted. As an attorney, If I file a document with a court in which I swore I personally verified that the information contained within the document is true, and I didn’t actually do that, I’d get in real trouble. It’s simple: That’s fraud in the eyes of the court.

GMAC, JPMorgan Chase and Bank of America recently admitted that their employees routinely sign thousands of documents without verifying what they’re signing. Those documents are then submitted to courts as if the documents were true, to enable the banks to foreclose on delinquent properties. Wells Fargo and CitiMortgage told the New York Times their employees do not engage in similar practices. Yet new evidence shows they do.

Confusion at Wells Fargo
Herman John Kennerty of Wells Fargo has given a deposition describing the department he oversees for Wells Fargo. It’s a department dedicated to simply signing documents. Kennerty testified that he signs 50 to 150 documents a day, verifying only the date on each. What else might he want to verify? Well, in one document he signed, he supposedly transferred the mortgage from Washington Mutual Bank FA to Wells Fargo on July 12, 2010. But that’s impossible, since Washington Mutual Bank FA changed its name in 2004, and by any name WaMu ceased to exist in 2008, when the FDIC took it over. Making the document even less comprehensible, the debtor had declared bankruptcy a month earlier, according to Linda Tirelli, who represented the debtor. Why would Wells Fargo want a mortgage from someone in bankruptcy? Finally, Tirelli pointed out that the papers Wells Fargo filed included a different transfer of the mortgage dated three days before the debtor took out the loan. The documents are a mess, yet Kennerty signed them regardless.

Legal Nonsense at CitiMortgage

Similarly, one M. Matthews signed a number of documents that CitiMortgage has used to try to foreclose on properties. While Matthews may or may not sign hundreds of documents a day — I have not yet found a deposition in which he swears that he does — he certainly does not verify the contents of the documents he’s signing. For example, he signed a document supposedly transferring a mortgage from Lehman Brothers to Citi in 2009. It’s hard to see how that’s possible, since Lehman had already ceased to exist. When confronted with its nonsensical filing, Citigroup decided not to foreclose. Instead, it gave the homeowner a meaningful mortgage modification–$15,000 principal reduction, plus a 30 year fixed mortgage at 3%. Tirelli, who represented the debtor in that case too, notes that she sees bad documents in the vast majority of cases, and she keeps files of “robosigned” documents.

It’s true that in both the WaMu and Lehman Brothers documents, the signers were officially representing an entity called MERS and acting as the “nominee” of WaMu and the “nominee” of Lehman Brothers. But that doesn’t change the fraudulent nature of the documents as filed. MERS can’t continue to be the nominee of an entity that doesn’t exist. Moreover, MERS can’t assign something it doesn’t have, and MERS itself will admit it doesn’t own the underlying note or mortgage.

Possible Sanctions for JPMorgan Chase
Wells Fargo and CitiMortgage aren’t the only big banks to misrepresent their practices in the media; JPMorgan Chase told the New York Times that it had not withdrawn any documents in a pending case. However, Chase has in fact withdrawn robosigned documents in a case Tirelli is currently defending. Chase now faces possible sanctions in the case.

Why are the big, sophisticated banks submitting such problematic documents to the courts? The key reason is that sometimes when a bank wants to foreclose, it has to prove it actually has the right to foreclose — that it owns the note and accompanying mortgage. Unfortunately for the banks, the securitization of mortgages and the changes in property ownership documentation that accompanied it make it hard for the banks to establish clean chains of title and produce original documents. Hard, that is, in an environment where a massive number of foreclosures must be started and completed in a timely manner.

See full article from DailyFinance: http://srph.it/amvWqK

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RELATED:

HEY NY TIMES…’NO PROOF’ JEFFREY STEPHAN HAS AUTHORITY TO EXECUTE AFFIDAVIT FOR WELLS FARGO

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Homeowner fights foreclosure in lawsuit claiming documents are fraudulent


THE ACTUAL DEPOSITION IN THIS CASE CITMORTGAGE v. BROWN

DEPOSITION OF NOTARY SHANNON SMITH OF THIS CASE

[ipaper docId=34340050 access_key=key-1eb2fh5kgjs1rbxhfwhq height=600 width=600 /]

MORE ON THIS CASE & FIRM BELOW

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Take Two: *New* Full Deposition of Law Office of David J. Stern’s Cheryl Samons

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Law Offices of David J. Stern, MERS | Assignment of Mortgage NOT EXECUTED but RECORDED

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Cheryl Samons | No Signature, No Notary, 1 Witness…No Problem!

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STERN’S CHERYL SAMONS| SHANNON SMITH Assignment Of Mortgage| NOTARY FRAUD!

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MAESTRO PLEASE…AND THE WINNER OF THE “MOST JOB TITLES” CONTEST IS…

JOHN KENNERTY, a/k/a HERMAN JOHN KENNERTY

JOHN KENNERTY a/k/a Herman John Kennerty has been employed for many years in the Ft. Mill, SC offices of America’s Servicing Company, a division of Wells Fargo Bank, N.A. He signed many different job titles on mortgage-related documents, often using different titles on the same day. He often signs as an officer of MERS (“Mortgage Electronic Registration Systems, Inc.”) On many Mortgage Assignments signed by Kennerty, Wells Fargo, or the trust serviced by ASC, is shown as acquiring the mortgage weeks or even months AFTER the foreclosure action is filed.

Titles attributed to John Kennerty include the following:

Asst. Secretary, MERS, as Nominee for 1st Continental Mortgage Corp.;

Asst. Secretary, MERS, as Nominee for American Brokers Conduit;

Asst. Secretary, MERS, as Nominee for American Enterprise Bank of Florida;

Asst. Secretary, MERS, as Nominee for American Home Mortgage;

Asst. Secretary, MERS, as Nominee for Amnet Mortgage, Inc. d/b/a American Mortgage Network of Florida;

Asst. Secretary, MERS, as Nominee for Bayside Mortgage Services, Inc.;

Asst. Secretary, MERS, as Nominee for CT Mortgage, Inc.;

Asst. Secretary, MERS, as Nominee for First Magnus Financial Corporation, an Arizona Corp.;

Asst. Secretary, MERS, as Nominee for First National Bank of AZ;

Asst. Secretary, MERS, as Nominee for Fremont Investment & Loan;

Asst. Secretary, MERS, as Nominee for Group One Mortgage, Inc.;

Asst. Secretary, MERS, as Nominee for Guaranty Bank;

Asst. Secretary, MERS, as Nominee for Homebuyers Financial, LLC;

Asst. Secretary, MERS, as Nominee for IndyMac Bank, FSB, a Federally Chartered Savings Bank (in June 2010);

Asst. Secretary, MERS, as Nominee for Irwin Mortgage Corporation;

Asst. Secretary, MERS, as Nominee for Ivanhoe Financial, Inc., a Delaware Corp.;

Asst. Secretary, MERS, as Nominee for Mortgage Network, Inc.;

Asst. Secretary, MERS, as Nominee for Ohio Savings Bank;

Asst. Secretary, MERS, as Nominee for Paramount Financial, Inc.;

Asst. Secretary, MERS, as Nominee for Pinnacle Direct Funding Corp.;

Asst. Secretary, MERS, as Nominee for RBC Mortgage Company;

Asst. Secretary, MERS, as Nominee for Seacoast National Bank;

Asst. Secretary, MERS, as Nominee for Shelter Mortgage Company, LLC;

Asst. Secretary, MERS, as Nominee for Stuart Mortgage Corp.;

Asst. Secretary, MERS, as Nominee for Suntrust Mortgage;

Asst. Secretary, MERS, as Nominee for Transaland Financial Corp.;

Asst. Secretary, MERS, as Nominee for Universal American Mortgage Co., LLC;

Asst. Secretary, MERS, as Nominee for Wachovia Mortgage Corp.;

Vice President of Loan Documentation, Wells Fargo Bank, N.A.;

Vice President of Loan Documentation, Wells Fargo Bank, N.A., successor by merger to Wells Fargo Home Mortgage, Inc. f/k/a Norwest Mortgage, Inc.

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



Posted in assignment of mortgage, Beth Cottrell, bogus, chain in title, citimortgage, CONTROL FRAUD, corruption, deed of trust, erica johnson seck, Erika Herrera, fannie mae, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, herman john kennerty, investigation, linda green, LPS, Max Gardner, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., STOP FORECLOSURE FRAUD, wells fargo2 Comments

Every Attorney General Needs To Follow Connecticut AG and seek 60-day freeze on foreclosures

Every Attorney General Needs To Follow Connecticut AG and seek 60-day freeze on foreclosures

Here are excerpts to Reuters:

Connecticut AG seeks 60-day freeze on foreclosures

Fri Oct 1, 2010 12:09pm EDT

* Blumenthal says defective documents warrant freeze

* JPMorgan, Ally/GMAC being investigated

The attorney general, Richard Blumenthal, also said he is investigating JPMorgan Chase & Co (JPM.N) over its foreclosure practices. He previously said he was investigating Ally Financial Inc and its GMAC Mortgage unit.

“Banks that lured consumers into loans they couldn’t afford now seek to stampede them into foreclosure,” Blumenthal said in a statement. “This freeze should stop a foreclosure steamroller based on defective documents and enable effective remedies.”

The decisions came after borrowers’ lawyers released affidavits suggesting that some lenders’ employees are submitting documentation in foreclosure proceedings without understanding the contents.

Investigators in at least six U.S. states are examining foreclosure practices at GMAC, JPMorgan or both, and calling for such practices to be defended or halted.

Blumenthal, a Democrat, is running for the U.S. Senate. (Reporting by Jonathan Stempel in New York; editing by John Wallace)

Continue to REUTERS

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Press Release

Attorney General Asks CT Courts To Freeze Home Foreclosures 60 Days Because Of Defective Docs

October 1, 2010

Attorney General Richard Blumenthal today asked the state Judicial Department to freeze all home foreclosures for 60 days because of defective document filings and institute measures to assure the integrity of future filings.

Blumenthal made the request after a second bank, JP Morgan Chase, acknowledged filing defective foreclosure documents. Like GMAC/Ally, JP Morgan admitted that so-called “robo-signers” signed affidavits without verifying the information in them. The GMAC robo-signer said under oath that he signed 8,000 to 10,000 foreclosure affidavits a month while a robo-signer for JP Morgan testified to spending less than two minutes on each affidavit.

Blumenthal is investigating GMAC/Ally and JP Morgan, as well as whether other banks may have engaged in similar practices.

Submitting defective documents is a possible fraud upon the court, potentially undermining foreclosures and underlying mortgages.

“This freeze should stop a foreclosure steamroller based on defective documents and enable effective remedies,” Blumenthal said. “The actions of GMAC/Ally and JP Morgan are inexcusable, a possible fraud on the court undermining the integrity of the legal process and consumers’ ability to fight foreclosures. Banks that lured consumers into loans they couldn’t afford now seek to stampede them into foreclosure. We must stop this runaway foreclosure train, restoring proper procedure and property owner rights.

“The Judicial Department should take additional measures — including requiring signers to state the basis for verifying information in affidavits — to restore the integrity of foreclosure documents. This appalling practice must be stopped before it poisons the legal system and unfairly evicts families from their homes.”

Connecticut Attorney General

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



Posted in assignment of mortgage, bogus, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, MERS, MERSCORP, Moratorium, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., notary fraud, robo signers, STOP FORECLOSURE FRAUD1 Comment

CAVEAT EMPTOR |MERS Transfers May Have Cloud Homeownership With `Blighted Titles’

CAVEAT EMPTOR |MERS Transfers May Have Cloud Homeownership With `Blighted Titles’

This is what this site is about…”ClOUDED TITLES”! This quote below should have added that it was in 65 Million mortgages not in some. I hope you all read my NO. THERE’S NO LIFE AT MERS…I highly recommend it because it came the heart.


In some cases, mortgages were conveyed using the Reston, Virginia-based Mortgage Electronic Registration System, or MERS, designed to cover transfers among system members. Promissory notes also often were endorsed as payable to the bearer to avoid the need for multiple transfers. Both practices have been challenged in court.

Foreclosure Errors Cloud Homeownership With `Blighted Titles’

By Kathleen M. Howley – Oct 1, 2010 12:00 AM ET

U.S. courts are clogged with a record number of foreclosures. Next, they may be jammed with suits contesting property rights as procedural mistakes in those cases cloud titles establishing ownership.

“Defective documentation has created millions of blighted titles that will plague the nation for the next decade,” said Richard Kessler, an attorney in Sarasota, Florida, who conducted a study that found errors in about three-fourths of court filings related to home repossessions.

Attorneys general in at least six states are investigating borrowers’ claims that some of the nation’s largest home lenders and loan servicers are making misstatements in foreclosures. JPMorgan Chase & Co. is asking judges to postpone foreclosure rulings, while Ally Financial Inc. said Sept. 21 its GMAC Mortgage unit would halt evictions. The companies said employees may have completed affidavits without confirming their accuracy.

Such mistakes may allow former owners to challenge the repossession of homes long after the properties are resold, according to Kessler. Ownership questions may not arise until a home is under contract and the potential purchaser applies for title insurance or even decades later as one deed researcher catches errors overlooked by another. A so-called defective title means the person who paid for and moved into a house may not be the legal owner.

‘Nightmare Scenario’

“It’s a nightmare scenario,” said John Vogel, a professor at the Tuck School of Business at Dartmouth College in Hanover, New Hampshire. “There are lots of land mines related to title issues that may come to light long after we think we’ve solved the housing problem.”

Almost one-fourth of U.S. home sales in the second quarter involved properties in some stage of mortgage distress, RealtyTrac Inc. said yesterday. In August, lenders took possession of record 95,364 homes and issued foreclosure filings to 338,836 homeowners, or one out of every 381 U.S. households, according to the Irvine, California-based data seller.

The biggest deficiency in foreclosure suits is missing or improperly handled documents, Kessler found in his study of court filings in Florida’s Sarasota County. When home loans are granted, borrowers sign a promissory note outlining payment obligations and a separate mortgage that puts an encumbrance on the property in the lender’s name. If mortgages are resold, both documents must be properly conveyed to prevent competing claims.

Mortgage Bonds

Most of the document errors involved mortgages that had been bundled into securities sold to investors, Kessler said. At the end of the U.S. real estate boom in 2005 and 2006, about 70 percent of the $6.1 trillion in mortgage lending was packaged into bonds, according to the Securities Industry and Financial Markets Association in New York.

Continue reading…BLOOMBERG

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



Posted in assignment of mortgage, auction, Bank Owned, bloomberg, bogus, chain in title, CONTROL FRAUD, corruption, deed of trust, DOCX, Economy, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, jpmorgan chase, Lender Processing Services Inc., LPS, MERS, MERSCORP, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., note, rmbs, robo signers, securitization, servicers, stopforeclosurefraud.com, sub-prime2 Comments

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Kenneth Eric Trent, www.ForeclosureDestroyer.com

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