Predatory Lenders | FORECLOSURE FRAUD | by DinSFLA

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The Monster: How a Gang of Predatory Lenders and Bankers Fleeced America, and Launched a Global Crisis

The Monster: How a Gang of Predatory Lenders and Bankers Fleeced America, and Launched a Global Crisis


By Michael Hudson

October 22, 2010 | The following is an excerpt from Michael Hudson’s THE MONSTER:  How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America – And Spawned a Global Crisis (2010, Times Books)

A few weeks after he started working at Ameriquest Mortgage, Mark Glover looked up from his cubicle and saw a coworker do something odd. The guy stood at his desk on the twenty-third floor of downtown Los Angeles’s Union Bank Building. He placed two sheets of paper against the window. Then he used the light streaming through the window to trace something from one piece of paper to another. Somebody’s signature.

Glover was new to the mortgage business. He was twenty-nine and hadn’t held a steady job in years. But he wasn’t stupid. He knew about financial sleight of hand — at that time, he had a check-fraud charge hanging over his head in the L.A. courthouse a few blocks away. Watching his coworker, Glover’s first thought was: How can I get away with that? As a loan officer at Ameriquest, Glover worked on commission. He knew the only way to earn the six-figure income Ameriquest had promised him was to come up with tricks for pushing deals through the mortgage-financing pipeline that began with Ameriquest and extended through Wall Street’s most respected investment houses.

Glover and the other twentysomethings who filled the sales force at the downtown L.A. branch worked the phones hour after hour, calling strangers and trying to talk them into refinancing their homes with high-priced “subprime” mortgages. It was 2003, subprime was on the rise, and Ameriquest was leading the way. The company’s owner, Roland Arnall, had in many ways been the founding father of subprime, the business of lending money to home owners with modest incomes or blemished credit histories. He had pioneered this risky segment of the mortgage market amid the wreckage of the savings and loan disaster and helped transform his company’s headquarters, Orange County, California, into the capital of the subprime industry. Now, with the housing market booming and Wall Street clamoring to invest in subprime, Ameriquest was growing with startling velocity.


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



Posted in STOP FORECLOSURE FRAUDComments (1)

Both Sink and McCullom knew or should have known about MERS documents

Both Sink and McCullom knew or should have known about MERS documents


DinSFLA here: I agree 100%. Where are the sirens that should be going off and a Foreclosure Moratorium? This is not the first time nor the last time we will hear of financial institutions with the help of LPS and MERS fabricating documents. .

We will not rest until we see justice and these politicians doing the job they took an oath for!

Sink, McCollum, Scott–Three the Hard Way

Some highlights to this article from the West Orlando News:

Bill McCollum is the Florida Attorney General, allegedly Florida’s top cop, and Alex Sink is Florida’s Chief Financial Officer or Florida’s chief financial crime investigator.

Well, history is the best teacher. If you want to know if Sink and McCollum will “fight” for you as Governor, let’s see how they “fought” for you as members of the Florida Cabinet.

It’s common knowledge that the State of Florida is one of America’s safest havens for predatory lenders, ponzi schemers and financial crooks. Florida was home to the Madoffs and Rothsteins, and a favorite spot for the Wells Fargos and Freemont Investment and Loan companies that swindled thousands of Floridians out of their investments and concocted illegal residential foreclosure actions.

Fight for me as Governor? I don’t think so! What financial criminals has Sink investigated? What financial criminals has McCollum prosecuted?

Don’t take my word for any of this. Read the facts for yourself. Call your little politicians and say Lucius is talking about them and see how they respond.

Both Sink and McCollum should know or should have known that financial criminals were not only robbing individual citizens, the crooks were also playing loose and free with money that the financial criminals owed local governments for transfer fees, assignment fees and other government financial transaction fees.

There is an electronic recording system devised by and for the convenience of predatory lenders and financial criminals called “MERS”. This system allows financial crooks to “document” changes in property title ownerships.

Both Sink and McCullom knew or should have known that the use of MERS to document or change titles, transfers and assignments of properties in Florida is illegal.

Why? Because use of MERS breaks the chain of title, allows criminals to get away without paying local government fees and is an explicit and factual violation of Florida Law!

Florida Statute 701.02 specifically states that “(1) An assignment of a mortgage upon real property or any interest therein, is not good or effectual in law or equity, against creditors or subsequent purchasers, for a valuable consideration, and without notice, unless the assignment is contained in a document that, in its title, indicates an assignment of mortgage and is recorded according to law.”

When Sink and McCollum got complaints from Florida citizens that claimed they were being victimized by predatory lenders and financial criminals, it seems they both ignored those complaints.

By: Lucius Gantt ALL WORLD CONSULTANTS Box 2071 Tallahassee, Florida 32316 850-222-3475

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



Posted in bogus, chain in title, conspiracy, CONTROL FRAUD, corruption, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, forgery, investigation, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Mortgage Foreclosure Fraud, notary fraud, robo signers, STOP FORECLOSURE FRAUD, trade secrets, ViolationsComments (0)


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