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Breaking News: Ethics Complaint Against “Foreclosure King” David J. Stern Dropped

Breaking News: Ethics Complaint Against “Foreclosure King” David J. Stern Dropped


Just breaking from Daily Business Review

The Bar alleged in a complaint that Stern willfully ignored a request in February by the 5th DCA to produce documents in a lawsuit between SunTrust Bank and Mortgage Electronic Registration Systems. Stern had been listed as counsel for SunTrust.

Funny thing because FHFA and other have found this firm to be the highlight of their investigations.

[All posts related to Law Offices of David J. Stern]

 

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Banks Took $6B in Reinsurance Kickbacks, Investigators Say

Banks Took $6B in Reinsurance Kickbacks, Investigators Say


This is a must read. There is no end to this mess. ENJOY!

American Banker-

Many of the country’s largest banks received $6 billion in kickbacks from mortgage insurers over the course of a decade, according to a previously undisclosed investigation by the Inspector General of the Department of Housing and Urban Development.

The allegations, since referred to the Department of Justice, stem from lenders’ demand that insurers cut them in on the lucrative business of insuring the mortgages they produced during the housing boom.

In exchange for the their business, companies such as Citigroup Inc, Wells Fargo & Co, SunTrust Banks Inc. and Countrywide allegedly required reinsurance partnerships on generous terms that violated the Real Estate Settlement Procedures Act, a 1974 law prohibiting abusive home sales practices.

[AMERICAN BANKER]

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The Florida Bar v. David J. Stern | re: MERS v. SunTrust Bank et al

The Florida Bar v. David J. Stern | re: MERS v. SunTrust Bank et al


This isn’t the first time. For the first from 2002 go to THE FLORIDA BAR vs. DAVID J. STERN

IN THE SUPREME COURT OF FLORIDA

THE FLORIDA BAR,

Complainant,

v.

DAVID JAMES STERN,

Respondent.
——————–~/

Excerpt:

By the conduct set forth above, respondent violated the following R. Regulating Fla. Bar:

A. Rule 3-4.2 [Violation of the Rules of Professional Conduct as adopted by the rules governing The Florida Bar is a cause for discipline.];

B. Rule 4-3.4(c) [A lawyer shall not knowingly disobey an obligation
under the rules of a tribunal except for an open refusal based on an assertion that no valid obligation exists.]; and

C. Rule 4-8.4(a) [A lawyer shall not violate or attempt to violate the Rules of Professional Conduct, knowingly assist or induce another to do so, or do so through the acts of another.].

[ipaper docId=58116492 access_key=key-1512nbaydf7k0m6o3f47 height=600 width=600 /]

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The Law Offices of David J. Stern, P.A. v. SunTrust Mortgage, Inc.

The Law Offices of David J. Stern, P.A. v. SunTrust Mortgage, Inc.


Case Number: 0:2011cv60901
Filed: April 26, 2011
Court: Florida Southern District Court
Office: Fort Lauderdale Office
Nature of Suit: Contract – Other Contract
Cause: 28:1332 Diversity-Breach of Contract
Jury Demanded By: None

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Foreclosure Fraud: The homeowner nightmares continue

Foreclosure Fraud: The homeowner nightmares continue


Reading between the lines of settlement proposals, the states attorneys general aren’t speaking the same language as the big banks. And struggling homeowners are paying the price.

By Abigail Field, contributor

FORTUNE — Over the past several months regulators have finally noticed what consumer attorneys have been saying for years: the big banks have routinely committed fraud in their foreclosure filings and their records of how much people owe are too often wrong. And the mortgage modification process, which was meant to help homeowners, has been exposed as an abject failure.

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Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance

Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance


Keller Rohrback’s investigation focuses on alleged abuses by Bank of America and JPMorgan Chase, among others, such as: failing to pay for hazard insurance out of the borrower’s escrow funds, charging homeowners for unnecessary insurance, backdating policies providing coverage retroactively, utilizing their own subsidiaries to provide the hazard insurance, and purchasing policies from companies who share fees or profits with the servicers—often without disclosing this information to the borrower. Keller Rohrback is also investigating the force-placed insurance practices of the following mortgage loan servicers:

Aurora Loan Services IndyMac Mortgage Services
Downey Savings & Loan Litton Loan Servicing LP
EMC Mortgage Corp. Nationstar Mortgage LLC
Financial Freedom PennyMac
GMAC Mortgage, Inc. Saxon
HSBC SunTrust Mortgage, Inc.

Source: Keller Rohrback L.L.P.

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HuffPO | One Of World’s Largest Banks Warns Of Punishment For Improper Foreclosure Practices In U.S.

HuffPO | One Of World’s Largest Banks Warns Of Punishment For Improper Foreclosure Practices In U.S.


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HSBC North America Holdings, the nation’s ninth-largest bank by assets, warned investors Monday of impending fines after receiving notice from federal bank regulators admonishing the lender for improper foreclosure practices.

The bank is the latest in a string of large financial companies that have used recent securities filings to prep investors for fines and a significant increase in costs associated with processing mortgages and repossessing homes, after being cited by regulators for deficient and sometimes illegal operations. On Friday, Ally Financial, Wells Fargo & Co., and SunTrust Banks — three of the nation’s 10 largest handlers of home mortgages — said in regulatory documents that they expect to be sanctioned by the U.S. government for their foreclosure practices.

The penalties follow months-long criminal and civil probes by federal and state regulators into lenders’ mortgage practices. Officials said they found significant shortcomings and violations of various state laws. A “small number” of foreclosures should not have occurred, John Walsh, the interim head of the Office of the Comptroller of the Currency, the federal regulator of national banks, told a Senate committee earlier this month after his agency surveyed less than 3,000 out of millions of loan files.

Continue reading… HuffingtonPost

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SunTrust finds problems in foreclosures

SunTrust finds problems in foreclosures


Fri Feb 25, 2011 1:14pm EST

* SunTrust to refile documents in 4,000 cases

* SunTrust expects costs to increase ‘modestly’

* Bank may revise processes, leading to higher costs

* Shares up 3.1 percent (Adds byline, details on foreclosure case refilings; rewrites paragraphs 1-4; updates share price)

By Joe Rauch

CHARLOTTE, N.C., Feb 25 (Reuters) – SunTrust Banks Inc (STI.N) is refiling documents in 4,000 foreclosure cases after an internal review found problems with the bank’s home repossessions.

The Atlanta-based bank said in its 2010 annual report filed with U.S. securities regulators on Friday that some foreclosure affidavits were signed by employees who did not directly review documents to ensure accuracy and instead relied on the work of others.

SunTrust said it is refiling the documents and expects to have the process substantially completed by the end of first quarter 2011.

The process, dubbed “robo-signing” by critics, forced some of the largest U.S. mortgage lenders to halt foreclosures last Fall amid a firestorm of public criticism.

Continue reading…REUTERS

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Judge holds bankers in contempt, threatens jail

Judge holds bankers in contempt, threatens jail


Jose Pagliery Daily Business Review January 13, 2011

Representatives from six major banks that skipped a hearing in a Miami condo association receivership case could face the wrath of Miami-Dade Circuit Judge Jennifer Bailey today if they fail to show up a second time.

The judge already has declared lenders that own or are foreclosing on units at Bird Grove Condo are on the hook for $105,999 in expenses for the court-appointed receiver for the association. She also held the six in contempt of court.

Bailey last month granted a request by the receiver, Miami attorney Lisa Lehner, to be paid for pulling the building — an asset for the foreclosing banks — back from the brink of condemnation.

When Lehner was appointed in March, garbage hadn’t been collected for weeks, electricity was about to be cut off, the building had no insurance, and an elevator was broken. She turned it around in months.

“They have property and collateral that if I walk away from turn into nothing,” Lehner said. “Here I am, sitting as their property manager, working for free after practicing law for 28 years. It’s just not fair.”

Lehner’s demand for $5,579 in expenses per unit went uncontested at a Dec. 1 show cause hearing where Bank of America was the only lender to send a representative. Missing were Flagstar Bank, GMAC, PNC Bank, SunTrust Bank, U.S. Bank and Wells Fargo.

In November, banks owned two units and were foreclosing on another 17 units in the 39-unit building at 2734 Bird Ave. between a gas station and a gallery. A one-bedroom, one-bath unit is listed for sale for $50,000. Bank of America filed nine foreclosure cases, followed by GMAC with five.

The six lenders were ordered to send non-attorney representatives to today’s hearing, when Bailey will discuss whether the banks also should be required to pay the receiver’s upcoming maintenance fees. Bailey’s order threatened to have bankers arrested if they didn’t show, and she warned, “You may be held in jail up to 48 hours before a hearing is held.”


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[NYSC] NY JUDGE DENIES 42 FORECLOSURE CASES “HAMP, AFFIDAVIT” ISSUES

[NYSC] NY JUDGE DENIES 42 FORECLOSURE CASES “HAMP, AFFIDAVIT” ISSUES


EXCERPT:

In submitting any future orders of reference said application shall include an affidavit from plaintiff indicating whether this loan is subject to a H.A.M.P. review and whether plaintiff is or is not prevented from proceeding with the instant foreclosure by reason of any applicable federal H.A.M.P. directives.

Read each below as some are worded differently…

[ipaper docId=45801709 access_key=key-1bx4piyyyebnoga2vmrr height=600 width=600 /]

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When Robosigners Attack!

When Robosigners Attack!


The Big Picture

By Barry Ritholtz – December 11th, 2010, 8:08AM

Sometimes, the best defense is a good offense.

That seems to be the approach that notorious robo-signing firm Nationwide Title Clearing has taken in responding to some of its critics.

If you are unfamiliar with their name, you might recall earlier this Fall when depositions of several Nationwide robo-signers employees went viral on YouTube (We mentioned these here and here).

This, amongst other perceived sleights has upset Nationwide Title, who has sued a St. Petersburg foreclosure defense lawyer, Matthew Weidner, for alleged libel and slander.

This is likely to be a terrible, terrible idea.

For those of you who are not attorneys, I need to point out a few things out about Libel and Slander laws in the United States. These are Constitutional issues, as the First Amendment protects speech, opinion, arguments, viewpoints, etc. In these cases, (capital “T”) Truth is an absolute defense. So if any defendant can demonstrate that the damaging statements were indeed, accurate, they win.

This case turns on the bizarre claim that the term robo-signer so libels the plaintiffs that they are entitled to damages. Given that Truth is a defense, the defendant will prevail if they can demonstrate Nationwide’s approach was robotic. Not literally machines doing the work, but any showing of assembly line manufacturing, for profit, of a streamlined document production that failed to review the documents, evaluate them, analyze the contents should qualify.

Here’s where things get very very interesting: In civil litigation, the discovery process provides lots of opportunities for a defendant to gather information related to the accusations to prove they are true. This is a very broad standard, and it means nearly anything relevant is fair game. Depositions of senior executives, the firm’s accounting and records, balance sheets, low level employees are all legitimate aspects of pre-trial discovery.

Why any private firm would subject themselves to this degree of scrutiny is quite baffling to me.


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FL Judge Orders “YouTube Depositions” From Nationwide Title Clearing Taken Down, ACLU Strikes Back!

FL Judge Orders “YouTube Depositions” From Nationwide Title Clearing Taken Down, ACLU Strikes Back!


Links will return pending ACLU’s victory…

NATIONWIDE TITLE CLEARING VIDEO DEPOSITIONS

VIDEO DEPOSITION OF NATIONWIDE TITLE CLEARING BRYAN BLY

SFF EXCLUSIVE: VIDEO DEPOSITION OF NATIONWIDE TITLE CRYSTAL MOORE

VIDEO DEPOSITION OF NATIONWIDE TITLE CLEARING DHURATA DOKO

And FULL DEPOSITION TRANSCRIPT OF NATIONWIDE TITLE CLEARING ERICA LANCE BRYAN BLY

Continue below to ACLU’s reply below…

According to a Certification filed by NTC’s counsel, on November 17, 2010, the trial court contacted via e-mail and requested that a one-hour hearing be set on Friday, November 19th, to hear the pending motions. App. Tab 10. NTC’s counsel learned that Mr. Forrest was traveling outside of the country and would not return until the following Monday, November 22nd. Id. As NTC’s counsel explained: …

[ipaper docId=45040126 access_key=key-12ouatg25xpw8qk1ja9k height=600 width=600 /]

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BRYAN BLY: NATIONWIDE TITLE CLEARING By Lynn Szymoniak, Esq.

BRYAN BLY: NATIONWIDE TITLE CLEARING By Lynn Szymoniak, Esq.


Mortgage Fraud

Bryan Bly
Nationwide Title Clearing

Action Date: November 8, 2010
Location: Palm Harbor, FL

The video-taped depositions of employees of Nationwide Title Clearing in Palm Harbor, Florida, were made available on the website Stop Foreclosure Fraud.

The deposition of Bryan Bly is particularly startling and straightforward. Bryan Bly signed documents and witnessed or notarized other documents. Bly testified that he did not witness the signatures he notarized. Bly signed in batches of 200. Bly signed approximately 5,000 mortgage assignments each day. Bly also signed as an officer of many lenders. Bly signed as an officer of over 20 banks and mortgage companies. His supervisors told him there were corporate resolutions authorizing him to sign using these titles. Bly had no knowledge of the information on the documents. Bly did not know what was meant by a mortgage assignment or an attorney-in-fact although he signed mortgage assignments as an officer of Citi Financial as attorney-in-fact for Argent Mortgage. He did not verify any information other than to make sure co-employees had signed their names so there were no blank lines on the documents. He has done this work for approximately 10 years.

One of the titles not discussed in the deposition, but used on tens of thousands of mortgage assignments signed by Bly was Attorney-In-Fact, Federal Deposit Insurance Corporation, as Receiver for IndyMac Federal Bank FSB, successor to IndyMac Mortgage Holdings, Inc. Bly continued to sign as Attorney-In-Fact for the FDIC as recently as June 25, 2010. A copy of an assignment signed by Bly as Attorney-In-Fact for the FDIC is available in the “Pleadings” section of Fraud Digest.


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FULL DEPOSITION OF WELLS FARGO HERMAN JOHN KENNERTY

FULL DEPOSITION OF WELLS FARGO HERMAN JOHN KENNERTY


Hat tip to Brian Davis for this deposition below.

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.

[ipaper docId=38977273 access_key=key-rgquasqbys0hxg420t8 height=600 width=600 /]

RELATED:

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


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Posted in assignment of mortgage, foreclosure, foreclosure fraud, herman john kennerty, MERS, MERSCORP, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., wells fargoComments (1)

FL 4th DCA To Review Controversial Switch of Lender Plaintiff, Borrowers Seek To QUASH Judge Sasser ‘Confidential’ Order

FL 4th DCA To Review Controversial Switch of Lender Plaintiff, Borrowers Seek To QUASH Judge Sasser ‘Confidential’ Order


Remember Judge Meenu Sasser? Recently in the Palm Beach Post she said, “I haven’t seen any widespread problem,”…referring to fraudulent foreclosure documents.

The Bender’s should take a look at this similar case…“Cat Out Of the Bag” (Trade Secrets) in CAPITAL ONE, NA v. Forbes, Fla: Dist. Court of Appeal, 2nd Dist. 2010

Foreclosure Crisis

4th DCA to review controversial switch of lender plaintiff

September 22, 2010 By: Polyana da Costa

arret Bender and his wife Gina started a court battle more than a year ago against SunTrust Mortgage, which wanted to foreclose on their Delray Beach house to recoup a $4 million mortgage.

The Benders asked the 4th District Court of Appeal to intervene last week after they came across what many foreclosure defense attorneys call growing and serious problems in South Florida courts — plaintiff substitutions and the increasing use of confidentiality in foreclosures against a backdrop of the muddled world of securitized mortgages.

Lender-plaintiffs have often lacked the documentation to prove they are the actual owner of the mortgage in question. Many loans in foreclosure have been sold in securitized packages numerous times and tracking ownership can be complicated. Critics say judges, overwhelmed by the volume of pending foreclosures cases, have overlooked the critical issue to move cases more quickly, taking away the homeowners’ right of due process.

The Benders filed a petition to quash an order by Palm Beach Circuit Judge Meenu Sasser granting a motion by SunTrust to keep confidential the documents related to the transfer and sale of the Benders’ mortgage. In the petition, the couple also criticized the order that allowed SunTrust to name a new plaintiff to replace itself in the foreclosure action. The order granting confidentiality was decided without a hearing and failed to identify the grounds for making the court records confidential, Fort Lauderdale appellate attorney Laura Watson claims in the petition she filed on behalf of the Benders. Watson did not return a call seeking comment by deadline.

Sasser ordered the documents related to the purchase and servicing of the mortgage be made available to attorneys representing the Benders but otherwise remain confidential. SunTrust claimed in its motion for confidentiality that the documents contained “proprietary commercial information.”

Florida International University law professor Howard Wasserman said the ruling seems unusual since no hearing was held on the confidentiality motion and the justification for granting confidentiality isn’t detailed in the order.

“Ideally, there would be an opportunity for the defense to respond, and you have to have good reason why the records should be confidential,” he said.

Continue reading…DAILY BUSINESS REVIEW

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Posted in assignment of mortgage, concealment, conflict of interest, conspiracy, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, investigation, Judge Meenu Sasser, mortgageComments (1)

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

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.

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Posted in chain in title, conflict of interest, conspiracy, CONTROL FRAUD, deed of trust, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, fraud digest, herman john kennerty, investigation, Lynn Szymoniak ESQ, MERS, MERSCORP, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Notary, note, robo signer, servicers, trustee, Trusts, Wall StreetComments (3)

Homeowner fights foreclosure in lawsuit claiming documents are fraudulent

Homeowner fights foreclosure in lawsuit claiming documents are fraudulent


Marcia Heroux Pounds, Sun Sentinel
August 20, 2010
After months of wrangling with CitiMortgage, Dennis and Joyce Brown got fed up and hired an attorney to fight CitiMortgage’s foreclosure on their Lauderdale Lakes home. The Browns claim they are victims of fabricated documents used to foreclose after CitiMortgage failed to credit them for mortgage payments.

“They ran my blood pressure up so bad,” said Dennis Brown, who hired Fort Lauderdale lawyer Kenneth Eric Trent to fight the foreclosure.

CitiMortgage and its lawyers, David Stern Law Offices, voluntarily withdrew the case against the Browns in Broward County Circuit Court on June 16. But the Browns can’t rest easy. Recently, they’ve received new foreclosure letters from another lawyer representing CitiMortgage.

The Browns’ story is just one example of foreclosures resulting from allegedly fraudulent mortgage assignments and other tactics that “eliminate due process for the homeowner,” Trent said.

He also is suing Stern and his Plantation law firm in federal court in a separate foreclosure case with similar allegations.

In that lawsuit, on behalf of Oakland Park homeowner Ignacio Damian Figueroa, Trent contends that Stern and a mortgage registration firm generated fraudulent mortgage documents that are intentionally ambiguous to cloud the real ownership of the Figueroa’s mortgage note.

The foreclosure practices of Stern and two other law firms are under investigation by the Florida Attorney General’s Office. The attorney general recently requested records going back to Jan. 1, 2008, from Stern as well as The Law Offices of Marshall C. Watson, P.A., and Shapiro & Fishman, LLP.

Thousands of Florida homeowners may have lost their homes as a result of improper actions by the firms under investigation. In announcing the probe, Attorney General Bill McCollum, a Republican who is a running for governor, said the law firms may have presented fabricated documents in court to speed the foreclosure process and obtain judgments against homeowners.

Jeffrey Tew, a Miami attorney who represents Stern’s firm, said while the attorney general may have received complaints, there “will not be evidence of fraud.” Due to the large volume of foreclosures, there may have been clerical mistakes, he said. “In past two to three years, the Stern law firm has processed probably 100,000 foreclosures.”

But he disputes that Stern’s law firm fabricated any documents. “I haven’t seen any example where a bank didn’t have a mortgage in default,” Tew said.

Stern represents well known mortgage lenders including Bank of America, Chase, CitiMortgage, Inc., Fannie Mae, Freddie Mac, HSBC, SunTrust, and Wells Fargo. These lenders also are the shareholders of Mortgage Electronic Registration Systems (MERS).

MERS is at the heart of the matter for Trent and other lawyers trying to stop what they view as illegal foreclosures in the nation.

The mortgage registry was created by lenders in the early 1990s to track home loans, including those repackaged as securities and sold to investors. When such loans were in foreclosure, MERS – not the original lender — was often the entity foreclosing. Some lawyers have successfully fought foreclosures by contending that MERS doesn’t own the note, or the borrower’s obligation to repay.

University of Utah law professor Christopher Peterson said MERS mortgage processing system goes against long-standing principles of property law in assigning rights to a note or mortgage. He said the “owner” of a mortgage can’t be the same as the “agent” representing the homeowner, for example.

Yet MERS records “false documents” with names of people who are not executives of the registry system, but often paralegals and clerks of law firms, he said. “It’s an extremely controversial and arguably fraudlent practice,” Peterson said.

Merscorp spokeswoman Karmela Lejarde declined to comment on the criticism of MERS or Trent’s lawsuit, citing company policy not to comment on pending lititgation.

Tew, who represents Stern’s Law Offices, called Trent’s lawsuit “fiction.” He points to Florida’s 5th District Court of Appeal that ruled in July against a homeowner who tried to fight foreclosure on the basis that MERS didn’t own the note or mortgage.

For the Browns’, foreclosure troubles began with not getting credit for their payments from CitiMortgage, their mortgage servicer.

The couple says they couldn’t clear it up with the lender. “They were claiming I was behind in payment, but I was paying every month,” said Brown, a carpenter who works for the Broward County School System and whose three children and four grandchildren also live in his Lauderdale Lakes home.

They stopped paying on their mortgage in late 2007 and sought legal help.

Another issue in Browns’ case is the signature on the assignment of Brown’s mortgage, giving rights to CitiMortgage, Trent said. The signature is by Cheryl Samons, who is identified as “assistant secretary of Merscorp.” In reality, Samons is an employee of Stern’s law office.

Tew confirmed Samons’ employment by Stern, but said “it’s very common for companies to appoint a registered agent. That process is absolutely legal and normal.”

But Trent contends that mortgage assignments need to be made on personal knowledge, not hearsay, to be admissible in court.

The Browns could be facing another foreclosure action, but Trent said he is confident he can fight it again. “They don’t have the basis to foreclose,” he said.

CitiMortgage spokesman Mark Rodgers said privacy restrictions prevent the financial institution from discussing a customer’s foreclosure action. But Rodgers said procedures may resume in cases “where, despite our best efforts, we have been unable to arrive at a satisfactory resolution acceptable to all the parties involved.”

Tew said foreclosure defense lawyers are portraying homeowners who have defaulted on their mortgages as helpless victims. “Everyone is sympathetic, including us, for the homeowner who can’t pay his mortgage. But it’s not fair to paint the banks and law firms that represent them as wearing the black hats.”

Marcia Heroux Pounds can be reached at mpounds@sunsentinel.com or 561-243-6650.

Browns’ Assignment of Mortgage & Vol. Dismissal below:

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

_________________

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

_________________

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

_________________

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

In accordance with Title 17 U.S.C. Section 107, any copyrighted work in this message is distributed under fair use without profit or payment for non-profit research and educational purposes only. GRG [Ref. http://www.law.cornell.edu/uscode/17/107.shtml]

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Posted in Christopher Peterson, citimortgage, class action, concealment, conspiracy, CONTROL FRAUD, corruption, fannie mae, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, Freddie Mac, Law Offices Of David J. Stern P.A., law offices of Marshall C. Watson pa, MERS, MERSCORP, mortgage, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Mortgage Foreclosure Fraud, non disclosure, Notary, notary fraud, note, RICO, shapiro & fishman pa, STOP FORECLOSURE FRAUDComments (1)

Move Your Money…

Move Your Money…


Move your money to a community bank or a credit union…watch the videos.

[youtube=http://www.youtube.com/watch?v=Icqrx0OimSs]

[youtube=http://www.youtube.com/watch?v=8AmfNft0Eow]

Here is Arianna Huffington: Move Your Money: A New Year’s Resolution

Go HERE to see where to go to move your money in your area

Posted in bank of america, bear stearns, chase, citi, concealment, conspiracy, corruption, FED FRAUD, geithner, indymac, jpmorgan chase, Mortgage Foreclosure Fraud, onewest, wachovia, washington mutual, wells fargoComments (0)


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

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