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Tag Archive | "files"

FANNIE MAE: Authorization for File Transfers from the Baum Law Firm

FANNIE MAE: Authorization for File Transfers from the Baum Law Firm


Effective immediately, servicers are authorized to transfer any Fannie Mae foreclosure or bankruptcy matters in New York from Steven J. Baum, P.C., to any other Retained Attorney Network firms in the State of New York, a listing of which is posted on eFannieMae.com.

[ipaper docId=73952804 access_key=key-29xzzyberswyxcgijtio height=600 width=600 /]

 

 

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After 16 years with “Foreclosure King” employee laid off via e-mail, no vacation pay

After 16 years with “Foreclosure King” employee laid off via e-mail, no vacation pay


REWIND: Why is she complaining, after all didn’t she get her expenses paid and get a new BMW SUV fully paid by Law Offices of David J. Stern?

Excerpt from Depo of Kelly Scott-

8 Q. And what was said about Cheryl’s bills being paid for
9 the Law Offices of David Stern?

10 A. That he’s always done it. David Stern has always
11 paid for Cheryl’s expenses.
12 Q. Personal expenses?
13 A. Yes.
14 Q. Do you know if he — Well was there rumor — Was
15 there talk, rather, that he paid — that he bought her car?

16 A. No, that’s confirmed. He did buy her a car. I
17 acknowledge that.

18 Q. He did buy her a car?
19 A. Yes.
20 Q. What kind of car did he buy her?
21 A. It was a BMW SUV.

<SNIP>

Q. Anything that –
4 A. Is it like personal or business or –
5 Q. Personal? Business? Anything at all?
6 A. Personal? The only thing that I was aware of that
7 took place there were the perks that certain employees received
8 from David Stern. If they were either dating him or they were
9 good friends with him, that they would basically do certain
10 things for him for certain files, in the sense of like David
11 Vargas. He would have certain perks from David Stern, like a
12 house, a car, cell phone paid all by David Stern.
13 And that’s all I know.

14 Q. Okay. So do you know of any other perks besides what
15 you said that Cheryl Salmons got? A car you said, for sure.
16 And her personal bills paid.

17 A. Yes. And cell phone.
18 Q. And probably her mortgage?
19 A. Yes. And vacations and gifts, jewelry.
20 Q. Who else would received gifts and jewelry or cars or
21 homes?
22 A. His girlfriend and David Vargas.
23 Q. Who’s his girlfriend?
24 A. At the time it was Christina Dell’Aguila

Palm Beach Post-

A new deposition of Cheryl Samons, the once second-in-command of the Law Offices of David J. Stern, reveals the chaos that occurred last fall as the Florida attorney general’s investigation was announced, the robo-signing scandal broke and the largest foreclosure law firm in Florida began to implode.

The deposition, linked to on a foreclosure blog by defense attorney Michael Alex Wasylik, was taken in a class-action lawsuit filed by former Stern attorneys who allege they were terminated without the 60 days notice required by federal law and under the Worker Adjustment and Retraining Notification Act.

Samons was singled out last fall for her role in signing thousands of foreclosure documents that she had no personal knowledge of and for allegedly having her signature forged by employees who were pushed to speed the processing of foreclosure cases.

[PALM BEACH POST]

[ipaper docId=66821723 access_key=key-1qrsxlrf5s5wmy5xsloy height=600 width=600 /]

 

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Re-Wind | Judges to weigh mortgage document destruction

Re-Wind | Judges to weigh mortgage document destruction


Any follow up to this story from back in January 2011?

By Scot J. Paltrow

WASHINGTON | Sun Jan 23, 2011 2:50pm EST

WASHINGTON (Reuters) – Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes or original loan documents.

The requests, by trustees liquidating Mortgage Lenders Network USA and American Home Mortgage, come despite intense concerns that paperwork critical to foreclosures and securitized investments may be lost.

A series of recent court rulings have increased the importance of original loan documents, holding that they are essential for investors to prove ownership of mortgages and to have the right to foreclose.

In the Mortgage Lenders case, the U.S. Attorney in Delaware has formally objected to the requested destruction because loss of the records “threatens to impair federal law enforcement efforts.”

The former subprime lender shut down in February 2007. In a January 6, 2010, motion, Neil Luria, the liquidating trustee, asked Bankruptcy Judge Peter J. Walsh for permission to destroy nearly 18,000 boxes of records now warehoused by document storage company Iron Mountain Inc.

Luria stated that destruction is necessary to eliminate $16,000 per month in storage costs as he disposes of the last assets of the bankrupt company.

In the American Home Mortgage case, the liquidating trustee, Steven Sass, has asked Bankruptcy Judge Christopher Sontchi to approve destruction of 4,100 boxes of loan documents stored in a dank parking garage beneath the company’s former headquarters in Melville, Long Island.

[REUTERS]

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THE END | Two States Ask if Paperwork in Mortgage Bundling Was Complete

THE END | Two States Ask if Paperwork in Mortgage Bundling Was Complete


CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

NYTimes Gretchen Morgenson-

Opening a new line of inquiry into the problems that have beset the mortgage loan process, two state attorneys general are investigating Wall Street’s bundling of these loans into securities to determine whether they were properly documented and valid.

The investigation is being led by Eric T. Schneiderman, the attorney general of New York, who has teamed with Joseph R. Biden III, his counterpart from Delaware. Their effort centers on the back end of the mortgage assembly lines — where big banks serve as trustees overseeing the securities for investors — according to two people briefed on the inquiry but who were not authorized to speak publicly about it.

continue reading [NYTimes]

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Magistrate Bucha Removed From Foreclosure Cases By Judge O’Donnell After Fraud Investigation By Prosecutor Mason

Magistrate Bucha Removed From Foreclosure Cases By Judge O’Donnell After Fraud Investigation By Prosecutor Mason


The Kathy Wray Coleman Online News Blog-

To perpetuate the alleged fraud lawyers for Chase Mortgage Company, namely Bricker and Eckler and Lerner, Sampson and Rothfuss, are falsifying notices of foreclosure sale to Bucha, O’Donnell and Reid and leaving off the name of Chase Mortgage Company because they know it no longer exist, and this is after the mortgage company lawyers file a second suit before Cuyahoga Judge Carolyn Friedland who goes along with it but dismissed the second suit in a particular case after grassroots activists complained, and after Cuyahoga County Clerk of Courts Gerald Fuerst allegedly harassed the homeowner with numerous summons of the illegal second suit, and deputy sheriffs sent to harass her at her home to deliver them.

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HW | JPMorgan must pay $4 million to get foreclosure docs from Ben-Ezra

HW | JPMorgan must pay $4 million to get foreclosure docs from Ben-Ezra


According to Housing Wire [link]

JPMorgan Chase must pay a $4 million surety bond to expedite the transfer of foreclosure cases still under the umbrella of foreclosure law firm Ben-Ezra & Katz.

The U.S. District Court for the Southern District of Florida made that ruling after JPMorgan Chase Bank sued Ben-Ezra, alleging the firm is delaying the return of foreclosure documents that represent $400 million in financial transactions. JPMorgan requested the documents after terminating an agreement with Ben-Ezra to handle its foreclosures.


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JPMorgan Chase Sues Florida Foreclosure Law Firm BEN-EZRA & KATZ Over Files

JPMorgan Chase Sues Florida Foreclosure Law Firm BEN-EZRA & KATZ Over Files


March 28 (Bloomberg) — JPMorgan Chase & Co. sued the Florida law firm of Ben-Ezra & Katz to force it to return files of foreclosure cases in which the firm represented the bank.

JPMorgan said in a complaint filed March 25 in federal court in Miami that the files include thousands of original promissory notes, mortgages and other documents that “evidence and secure” loans worth more than $400 million. The New York- based bank seeks a court order forcing Ben-Ezra to return the files and unspecified damages.

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PBPOST | Freddie Mac takes foreclosure files from Fort Lauderdale-based Marshall C. Watson law firm

PBPOST | Freddie Mac takes foreclosure files from Fort Lauderdale-based Marshall C. Watson law firm


by Kim Miller

Federal mortgage backer Freddie Mac is taking its foreclosure cases from the Fort Lauderdale-based Marshall C. Watson law firm, one of eight Florida firms facing state scrutiny for its handling of home repossessions.

Brad German, a spokesman for Freddie Mac, confirmed the removal of the cases this morning, but did not say why Watson will no longer be used.

“Going forward our servicers will be directing business to other counsel,” German said.

In a statement, the Marshall C. Watson law firm said the parting was a mutual decision made by both sides.

“Freddie Mac and our firm mutually decided to part ways,” that statement said. “The Freddie Mac portfolio was only a small portion of the firm’s business, representing less than ten percent. Our firm will continue to work with Freddie Mac to ensure the transition of files is expedited and smooth. We are operating as normal with respect to all other clients and as always remain focused on providing superior service.”

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Foreclosure law firm lays off nearly half of its staff, after losing Fannie Mae

Foreclosure law firm lays off nearly half of its staff, after losing Fannie Mae


Now this is not cool. Last time there was a lot of hate going around from employees of the first  Mill that Fannie let go. These employees should not be at all surprised as they saw this coming. Not only are these employers jeopardizing their business but the jobs of their staff.

A Hollywood law firm that processes thousands of foreclosures for major lenders laid off almost half of its 568 employees Monday, days after the government-owned mortgage giant Fannie Mae pulled its files from the practice.

Ben-Ezra & Katz, in a memo released by a company spokesman, said the firm was “forced to take this action after Fannie Mae surprisingly terminated its relationship with the firm.” In a notice sent five days ago, Fannie Mae officials said all exisiting foreclosures, mediations and bankruptcies needed to be transferred to other loan servicers by Tuesday, citing “document execution” issues.

Ben-Ezra officials issued a statement last week, saying the question was whether correct original documents were attached to each foreclosure filing. The law firm said it already had notified Fannie of the “technical paperwork issues” and had created a plan to mediate them, but the mortgage backer suddenly decided to cut ties.

It’s unknown how many foreclosures are involved. Statewide, Ben-Ezra & Katz has handled at least 18,000 cases, according to Legalprise, a West Palm Beach data analysis firm.

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PB POST | Fannie Mae fires second South Florida law firm

PB POST | Fannie Mae fires second South Florida law firm


By Kimberly Miller Palm Beach Post Staff Writer
Updated: 7:18 p.m. Thursday, Feb. 10, 2011
Posted: 7:07 p.m. Thursday, Feb. 10, 2011

Federal mortgage giant Fannie Mae has cut ties with a second South Florida law firm handling its foreclosure cases, requiring an immediate transfer of those files to other attorneys and likely causing more turmoil in the state’s foreclosure courts.

The termination of its relationship with the Fort Lauderdale firm of Ben-Ezra & Katz, P.A. was announced today in a notice to loan servicers. The notice says payments to the firm should be stopped immediately and gives servicers a Feb. 15 deadline to find new firms to handle the Ben-Ezra & Katz files.

“Fannie Mae has become aware of certain document execution issues at the Ben-Ezra law firm regarding its processing of foreclosure cases on our behalf,” said Fannie Mae spokeswoman Amy Bonitatibus.

“It is our expectation that law firms will handle matters in strict compliance with proper procedures, ethical codes of conduct and legal requirements.”

Ben-Ezra & Katz has represented banks in 508 Palm Beach County foreclosure cases in the past two years where the homes were ordered to auction.

Here is a sample…

[ipaper docId=37307888 access_key=key-19vf8lmd51tu4q81fb22 height=600 width=600 /]

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US judge temporarily delays loan document shredding

US judge temporarily delays loan document shredding


Mon Jan 24, 2011 1:57pm EST

* Two defunct lenders seeking to destroy boxes of records

* One judge temporarily blocks document destruction

* In separate hearing, destruction partially allowed

* Rulings come amid wide concerns of missing loan docs

By Scot J. Paltrow

WILMINGTON, Del., Jan 24 (Reuters) – A U.S. bankruptcy judge temporarily blocked bankrupt subprime lender Mortgage Lenders Network USA from destroying 18,000 boxes of original loan files after federal prosecutors said documents in them may be needed as evidence in more than 50 criminal investigations.

In a hearing Monday before U.S. Bankruptcy Judge Peter J. Walsh, a representative from the Delaware U.S. Attorneys’ Office said she did not know details of any of the investigations.

But she said prosecutors and FBI offices around the country had requested time to access to the boxes and assess whether the contents contain needed evidence before the judge permits any destruction.

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Judges to weigh mortgage document destruction

Judges to weigh mortgage document destruction


By Scot J. Paltrow

WASHINGTON | Sun Jan 23, 2011 2:50pm EST

WASHINGTON (Reuters) – Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes or original loan documents.

The requests, by trustees liquidating Mortgage Lenders Network USA and American Home Mortgage, come despite intense concerns that paperwork critical to foreclosures and securitized investments may be lost.

A series of recent court rulings have increased the importance of original loan documents, holding that they are essential for investors to prove ownership of mortgages and to have the right to foreclose.

In the Mortgage Lenders case, the U.S. Attorney in Delaware has formally objected to the requested destruction because loss of the records “threatens to impair federal law enforcement efforts.”

The former subprime lender shut down in February 2007. In a January 6, 2010, motion, Neil Luria, the liquidating trustee, asked Bankruptcy Judge Peter J. Walsh for permission to destroy nearly 18,000 boxes of records now warehoused by document storage company Iron Mountain Inc.

Luria stated that destruction is necessary to eliminate $16,000 per month in storage costs as he disposes of the last assets of the bankrupt company.

In the American Home Mortgage case, the liquidating trustee, Steven Sass, has asked Bankruptcy Judge Christopher Sontchi to approve destruction of 4,100 boxes of loan documents stored in a dank parking garage beneath the company’s former headquarters in Melville, Long Island.


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Files Going, Going…

Files Going, Going…


So lets recap a few important events that happened in the past and just recently:

9/4 FL AG confident there is a great deal of fraud

Thousands of final judgments of foreclosure against Florida homeowners may have been the result of the allegedly improper actions of these law firms,” said Mr. McCollum in an interview. “We’ve had so many complaints that I am confident there is a great deal of fraud here.

10/18 Moving Files via 18 Wheeler (Deposition of Kelly Scott)

18 A. The only concern was that they were moving files out
19 of the office into a different office and that Eighteen Inch
20 Freight, I think, was picking them up. Something like that.
21 Trailer freight, something like that.

22 Q. Do you know where –
23 MS. CLARKSON: Eighteen wheeler?
24 THE WITNESS: Yeah, eighteen wheeler.

25 BY MS. EDWARDS: 1 Q. Do you know where they were moving them?
2 A. Supposedly they were being moved to Orlando’s office.
3 Q. And do you know why they would do that?
4 A. No.
5 Q. Do you know how long ago this was going on?
6 A. I think a month and a half ago.
7 Q. What kind of office is Orlando?
8 A. David Stern has another law office in Orlando,
9 Florida.

11/2 Fannie and Freddie “remove” files from a Foreclosure Firm

Fannie and Freddie said they will move those files to other law firms in the state but that they hadn’t yet identified where they would be redistributed. The firms said they had notified Florida’s attorney general about the decision to remove the files and that the Stern firm had cooperated with the action.

Freddie’s spokeswoman said an internal review raised “concerns about some of the practices at the Stern firm.”

11/4 Law Firm announces cut backs

The terminations come two days after mortgage giants Fannie Mae and Freddie Mac severed ties with the firm. “There’s been a substantial reduction in staff, it started happening over the past few weeks and many employees received notice today,” said Jeffrey Tew, a lawyer representing the Stern firm

11/4 Document and Shredding Service

Same day an employee for a document management and shredding company was unloading hundreds of empty boxes from a truck and carting them into the office complex where this Law Firm is located

So exactly who is keeping track of documents going, going and gone?

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Wells Fargo drops the Law Offices of David J. Stern

Wells Fargo drops the Law Offices of David J. Stern


Last week Freddie and Fannie announced the termination of their relationship and removing files from the Law Offices of David J. Stern, now comes Wells Fargo following both Freddie and Fannie.

Freddie’s spokeswoman said an internal review raised “concerns about some of the practices at the Stern firm.”

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© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN

FANNIE, FREDDIE ENDS RELATIONSHIP WITH FLORIDA LAW OFFICES OF DAVID J. STERN


Fannie, Freddie Take Loan Files From Florida Law Firm

Fannie Mae and Freddie Mac have terminated their relationships with a top Florida foreclosure law firm and began taking possession of loan files on Monday afternoon from the firm, which processes evictions on behalf of the mortgage-finance giants.

Fannie and Freddie had previously suspended all foreclosures that had been referred to the law offices of David J. Stern in Plantation, Fla., a suburb of Fort Lauderdale.

Freddie Mac took the rare step of removing loan files after an internal review raised “concerns about some of the practices at the Stern firm,” a Freddie spokeswoman said.

“We have begun taking possessions of all files on Freddie Mac mortgages simply to protect our interest in those loans as well as those of the borrowers,” the Freddie spokeswoman said. A Fannie spokeswoman declined to elaborate.

Fannie and Freddie said they will move those files to other law firms in the state but that they hadn’t yet identified where they would be redistributed. The firms said they had notified Florida’s attorney general about the decision to remove the files and that the Stern firm had cooperated with the action.

A lawyer for Mr. Stern didn’t immediately respond to inquiries.

[ipaper docId=41000776 access_key=key-1b0z3b528d2hjxuaoh60 height=600 width=600 /]

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Full Deposition Transcript of Jessica Cabrera Law Offices of Marshall C. Watson

Full Deposition Transcript of Jessica Cabrera Law Offices of Marshall C. Watson


Make sure to catch the exhibits in the deposition towards the very end.

Will do excerpts when I have a chance.

[ipaper docId=39632683 access_key=key-g4rsv1f15iz3h6fw9pf height=600 width=600 /]

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MOVING FILES VIA “18” WHEELER?? GIFTS?? Full Deposition Transcript of Kelly Scott of Law Offices of David J. Stern

MOVING FILES VIA “18” WHEELER?? GIFTS?? Full Deposition Transcript of Kelly Scott of Law Offices of David J. Stern


Side note…DJSP recently signed what may be the largest lease in Orlando this year. They plan to open a 12,870-square-foot in Highwoods Properties’ Landmark Center Two, near Lake Eola.

8 Q. And what was said about Cheryl’s bills being paid for
9 the Law Offices of David Stern?

10 A. That he’s always done it. David Stern has always
11 paid for Cheryl’s expenses.
12 Q. Personal expenses?
13 A. Yes.
14 Q. Do you know if he — Well was there rumor — Was
15 there talk, rather, that he paid — that he bought her car?

16 A. No, that’s confirmed. He did buy her a car. I
17 acknowledge that.

18 Q. He did buy her a car?
19 A. Yes.
20 Q. What kind of car did he buy her?
21 A. It was a BMW SUV.

<SNIP>

Q. Anything that —
4 A. Is it like personal or business or —
5 Q. Personal? Business? Anything at all?
6 A. Personal? The only thing that I was aware of that
7 took place there were the perks that certain employees received
8 from David Stern. If they were either dating him or they were
9 good friends with him, that they would basically do certain
10 things for him for certain files, in the sense of like David
11 Vargas. He would have certain perks from David Stern, like a
12 house, a car, cell phone paid all by David Stern.
13 And that’s all I know.

14 Q. Okay. So do you know of any other perks besides what
15 you said that Cheryl Salmons got? A car you said, for sure.
16 And her personal bills paid.

17 A. Yes. And cell phone.
18 Q. And probably her mortgage?
19 A. Yes. And vacations and gifts, jewelry.
20 Q. Who else would received gifts and jewelry or cars or
21 homes?
22 A. His girlfriend and David Vargas.
23 Q. Who’s his girlfriend?
24 A. At the time it was Christina Dell’Aguila

<SNIP>

8 Q. You have friends that still work at the office?
9 A. Yes.
10 Q. Doing what?
11 A. Foreclosure paralegals, docket return clerks.
12 Q. And what are they telling you?
13 A. That they’re very scared. That’s it.
14 Q. That your friends are scared?
15 A. Yeah, that my friends are scared.
16 Q. Did they say anything about what’s going on with
17 Stern or Cheryl Salmons or anybody else?
18 A. The only concern was that they were moving files out
19 of the office into a different office and that Eighteen Inch
20 Freight, I think, was picking them up. Something like that.
21 Trailer freight, something like that.

22 Q. Do you know where –
23 MS. CLARKSON: Eighteen wheeler?
24 THE WITNESS: Yeah, eighteen wheeler.

25 BY MS. EDWARDS:

1 Q. Do you know where they were moving them?
2 A. Supposedly they were being moved to Orlando’s office.
3 Q. And do you know why they would do that?
4 A. No.
5 Q. Do you know how long ago this was going on?
6 A. I think a month and a half ago.
7 Q. What kind of office is Orlando?
8 A. David Stern has another law office in Orlando,
9 Florida.

10 Q. What office is that?
11 A. I don’t know.
12 Q. And was it connected with the office here in Broward
13 County?
14 A. Yes.
15 Q. And do you know which — what the office is there or
16 what the location is?
17 A. No, I just know it’s another law office for David
18 Stern that he’s opened for foreclosures in Orlando.
19 Q. And did he just open it a month and a half ago?
20 A. No. He opened it, I think it was either sometime at
21 the beginning of this year or the end of last year. I can’t
22 remember.
23 Q. 2010?
24 A. Yeah.
25 Q. Or December 2009?

[ipaper docId=39604910 access_key=key-12u7vh26rf7970c9xnte height=600 width=600 /]

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Fannie Mae’s Announcing Miscellaneous Servicing Policy Changes

Fannie Mae’s Announcing Miscellaneous Servicing Policy Changes


Highlights:

Retirement of HomeSaver Advance
Servicing Guide, Part VII, Section 609: HomeSaver Advance

Technology Usage and Electronic Invoice Submission Charges to Attorneys and Trustees
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Prohibition Against Servicer-Specified Vendors for Fannie Mae Referrals
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Prohibition on Outsourcing Fees, Referral Fees, Packaging Fees, and Similar Fees
Servicing Guide, Part VII, Section 501.03: Allowable Attorney Fees, and Part VIII, Section 104.04: Attorney (or Trustee) Fees

Attorney or Trustee File Transfers
Servicing Guide, Part VII, Section 501: Selection of Bankruptcy Attorneys and Avoiding Delays in Case Processing, and Part VIII, Section 104: Referral to Foreclosure Attorney/Trustee

New Documentation Aging Requirements Established for Loss Mitigation Options
Servicing Guide, Part VII, Section 601.01: Requesting Preliminary Financial Information

Mandatory Nature of Retained Attorney Network
Servicing Guide, Part VII, Section 501.01: Fannie Mae-Retained Attorneys, and Part VIII, Section 104.01: Fannie Mae-Retained Attorneys

Deeds-in-Lieu of Foreclosure
Servicing Guide, Part VII, Section 606: Deeds-in-Lieu of Foreclosure

Clarification Regarding Foreclosure Actions in the Name of Mortgage Electronic Registration System (MERS)

Monitoring Pooled from Portfolio (PFP) Mortgage Loans

Announcement 08-31, Fannie Mae 2009 Single-Family Master Trust Agreement, the Amended and Restated 2007 Single-Family Master Trust Agreement, and Certain Servicing Clarifications and Changes, Including Expanded Loss Mitigation Flexibility, and Announcement 07-03R, Reissuance of the Instructions for the Fannie Mae Single-Family MBS Master Trust Agreement

Servicer Responsibilities for Non-Escrow Mortgage Loans
Servicing Guide, Part III, Section 103: Escrow Deposit Accounts

Audit Confirmation Request Process Changes
Servicing Guide, Part X, Section 106: Audit Confirmations

[ipaper docId=35369764 access_key=key-hwlb9q7zv7ait78hgtk height=600 width=600 /]

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