Christina Trowbridge | FORECLOSURE FRAUD | by DinSFLA

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By Lynn E. Szymoniak, Esq. Ed., Fraud Digest ( July 18, 2010

These are highlights from the deposition of Jeffrey B. Stephan, taken June 7, 2010, in a foreclosure case in Maine, Federal National Mortgage Association v. Nicole M. Bradbury, et al., Maine District Court, District Nine, Division of Northern Cumberland, Docket No. BRI-RE-09-65. The deposition was taken by Attorney Thomas Cox of Portland, Maine.

Jeffrey Stephan says his current title is team leader of the document execution team for GMAC. He estimates that he signs between 8,000 and 12,000 documents monthly. He supervises a team of 14 employees.

Mortgage Assignments and Affidavits in support of Summary Judgment signed by Stephan have been used by GMAC, FANNIE & FREDDIE in over 100,000 foreclosure cases.

“LPS” in the last line refers to Lender Processing Services in Jacksonville, Florida.

In a previous deposition, Stephan stated that the notaries who notarize his signature are often not actually present in the room with him when he signs documents.

Despite all of the mounting evidence and admissions, Jeffrey Stephan, Scott Anderson, Bryan Bly, Linda Green, Erica Johnson-Seck, Christina Trowbridge and the other “bank officers” employed by the companies serving the securitized
mortgage-backed trust industry will be back at their desks Monday morning, pens (or rubber stamps) in hand.

Page 16-17, Lines 17-25, 2-11

Q: What training have you received?

A: I received side-by-side training from another team leader to instruct me on how to review the documents when they are received from my staff.

Q: Who was that person?

A: That person, at the time, I believe, was a gentleman named Kenneth Ugwuadu. U-G-W-U-A-D-U. He is no longer with GMAC.

Q: How long did that training last?

A: Three days.

Q: Were there any written or printed training materials or manuals used as apart of that training?

A: No.

Page 20, Lines 19-24:

Q.: In your capacity as the team leader for the document execution team, do you have any role in the foreclosure process, other than the signing of documents?

A: No.

Page 54, Lines 12-25:

Q: When you sign a summary judgment affidavit, do you check to see if all of the exhibits are attached to it?

A: No.

Q. Does anybody in your department check to see if all the exhibits are attached to it at the time that it is presented to you for your signature?

A: No.

Q: When you sign a summary judgment affidavit, do you inspect any exhibits attached to it?

A: No.

Page 62-63, Lines 23-25, 2-6:

Q: Is it fair to say when you sign a summary judgment affidavit, you don’t know what information it contains, other than the figures that are set forth within it?

A: Other than the borrower’s name, and if I have signing authority for that entity, that is correct.

Page 69, Lines 2-20:

Q: Mr. Stephan, referring you again to the bottom line on Page 1 of Exhibit 1, it states: I have under my custody and control, the records relating to the mortgage transaction referenced below.

It’s correct, is it not, that you did not have in your custody any records of GMAC at the time that you signed a summary judgment affidavit?

A: I have the electronic record. I do not have papers.

Q: You have access to a computer, is that what you mean?

A: Yes.
(objections omitted)

Page 45, Lines 2-11:

Q: Mr. Stephan, do you recall testifying in your Florida deposition in December with regard to your employees, and you said, quote, they do not go into the system and verify that the information is accurate?

A: That is correct.

Page 41, Line 19:

Q: Do your employees have any direct communication with outside counsel?

A: Yes, through the LPS System.

Please click on Fraud Digest’s logo to read more articles like this.

Here is the Deposition Below:

Via: 4closurefraud

[ipaper docId=33129394 access_key=key-2ml8jt9qwzgk3qgg0qr0 height=600 width=600 /]

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

Posted in fraud digest, Lender Processing Services Inc., LPS, robo signer, securitization, STOP FORECLOSURE FRAUD, TrustsComments (1)

2009 Mortgage Assignments – Over a Trillion Dollars – Sure There Were…

2009 Mortgage Assignments – Over a Trillion Dollars – Sure There Were…

COMMENTS  from Lynn Szymoniak re “Linda Green” Mortgage Assignments

On June 29, 2010, Judge William C. Todd, III, entered a lengthy opinion in a NJ foreclosure action, Bank of New York as Trustee v. Michael J. Raftogianis, et al., Case No.F-7356-09, Superior Ct. of NJ, Atlantic County, in a case involving securitization, MERS and questionable mortgage assignments.  These same issues arise in hundreds of thousands of foreclosure cases.  Judge Todd found: “The original complaint in this matter was filed in February, 2009. The plaintiff identified in the complaint was not the original mortgagee. There was no meaningful attempt to comply with the provisions of R. 4:64-1(b)(10) by ‘reciting all assignments in the chain of title…The MERS assignment was not executed and recorded until after the complaint was filed.’ The plaintiff also failed to produce the Note. On page 18 of this Order, Judge Todd notes: “The assignment was executed by one Linda Green, as Vice President of MERS, as nominee for American Home Acceptance. Ms. Green’s signature was notarized.”

Several articles regarding the authority and actions of Linda Green are available on “Fraud Digest.”  In the “pleadings” section, there are examples of the many different Linda Green signatures/forgeries. Green’s “signature” appears on HUNDREDS OF THOUSANDS of mortgage assignments – as an officer of at least 20 different banks and mortgage companies.


The total mortgage loan amount on 500 “Linda Green” Mortgage Assignments is $126,956,912, or approximately $125 million for each 500 Assignments. The average output of Assignments from the Docx office in Alpharetta, Georgia in 2009 was 2,000 Assignments per day.

This would be equivalent to (4 x $125 million) or $500 million each day.  Assuming that Docx operated 5 days a week for 51 weeks (allowing for holidays), the office was open, producing Assignments, 255 days. It is likely that the Linda Green/Docx crew prepared and filed Mortgage Assignments showing One Hundred Twenty-Seven Billion, Five Hundred Million ($127,500,000,000) in mortgages were Assigned in 2009.

The offices of Lender Processing Services in Mendota Heights, Minnesota, seems likely to also have produced 2,000 Assignments each working day.

Jeffrey Stephan from the GMAC offices in Montgomery County, Pennsylvania also is likely to have produced 2,000 Assignments each day.

Bryan Bly of Nationwide Title Clearing also is likely to have produced 2,000 Mortgage Assignments each day.

Scott Anderson of Ocwen Loan Servicing in West Palm Beach, Florida, almost certainly produced an average of 2,000 Assignments a day.

Herman John Kennerty of America’s Servicing Company in Ft. Mill, South Carolina, also is likely to have produced 2,000 Assignments each day.

Erica Johnson-Seck was almost certainly producing Assignments at this same level for IndyMac.

Christina Trowbridge, Whitney Cook, and Stacy Spohn of Chase Home Finance in Franklin, Ohio likely had the same output.

Keri Selman and Renee Hertzler of BAC Home Loan Servicing (formerly Countrywide) in Texas almost certainly produced an average of 2,000 Assignments a day.

If these nine offices each produced 2,000 Assignments a day, the value of the Mortgage Assignments filed by all nine offices in 2009 was One Trillion, One Hundred Forty Seven Billion, Five Hundred Million ($1,147,500,000,000).

Most of these Assignments, of course, were not actually made in 2009.  Trusts and trustees did not rush to acquire over a trillion dollars in sub-prime mortgages in 2009.  The vast majority of these assignments were made solely for the purpose of “facilitating” foreclosures.

Each day, courts, regulators and law enforcement refuse to act on the issue of fraudulent Mortgage Assignments.  By failing to act, they choose to protect the interests of Wall Street securitizers, hedge funds, Deutsche Bank (and other foreign banks), CDO sellers and purchasers, especially Goldman Sachs and investors, particularly Chinese traders.

If homeowners had committed the equivalent crime and filed millions of fraudulent “Satisfaction of Mortgage” documents, the courts and prisons would be filled with defendants. Two systems of justice, one for Wall Street and one for Main Street,  means no justice at all.

(Note: copies of the various versions of the Green signature are in the pleadings section of

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.

Posted in CONTROL FRAUD, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, fraud digest, Lender Processing Services Inc., LPS, Lynn Szymoniak ESQ, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., robo signers, stop foreclosure fraudComments (1)

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