A Year Ago, A Storm of Allegations And Reports Highlighting Robo-Signing And Foreclosure Fraud Swept Across America Causing Major Banks To Halt Foreclosures Nationwide While Congressional, State, And Federal Investigations Were Launched. A Year Later, While Investigations Are Still Ongoing, Regulators Have Failed To Correct The Underlying Issues Behind Foreclosure Fraud And Robo-Signing. The Overwhelming Evidence Presented In This Paper Is That Not Only Were American Homeowners And Borrowers Defrauded In The World’s Greatest Financial Scam, But American’s Wealth And Security Were Placed At Risk. To Date, There Has Been Only One Criminal Conviction Of An Executive Of A Major Mortgage Company And Other Criminal Convictions Have Been Halted. Still, As Shown In This Paper, Foreclosure Fraud And Robo-Signing Continue While Some Courts Address The Issue And Others Ignore The Ramifications Of This Massive Fraud. What Is Now Known Is That These Scams Were Not Unique, But Industry-Wide. The Mortgage-Backed Securities Turned Out To Be Non-Mortgage & Note Backed Empty Trusts. To Conceal This Massive Ponzi Scheme Perpetuated Against Americans, The Nation’s Mortgage Industry Continues To Manufacture, Fabricate, & Destroy Evidence, Despite The Inherent Risks And Ramifications Since Over 90% of Borrowers Don’t Challenge Their Foreclosures.
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.
By Diane C. Lade, Sun Sentinel
6:13 p.m. EST, February 14, 2011
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.
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.
For those who may not know both David J. Stern and Cheryl Samons both were former employees of Shapiro & Fishman prior to Mr. Stern and Mrs. Samons departing from Shapiro & Fishman…“thats all“. <grin>————————–>
180 PAGES!
PROTECTIVE ORDER? Lender Processing Services? Specialized Loan Servicing? American Home Mortgage Servicing? DEPOS? SUBPOENAS?
DISMISSAL WITH PREJUDICE!
Florida Rules of Civil Procedure
1.420 Dismissal of Actions
(a) Voluntary Dismissal.
(1) By Parties. Except in actions in which property has been seized or is in the custody of the court, an action may be dismissed by plaintiff without order of court
(B) by filing a stipulation of dismissal signed by all parties who have appeared in the action. Unless otherwise stated in the notice or stipulation, the dismissal is without prejudice, except that a notice of dismissal operates as an adjudication on the merits when served by a plaintiff who has once dismissed in any court an action based on or including the same claim.
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