Wilbur Ross | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "Wilbur Ross"

COMPLAINT + EXHIBITS | American Home Mortgage Servicing Inc. Vs. Lender Processing Services Inc., DOCX

COMPLAINT + EXHIBITS | American Home Mortgage Servicing Inc. Vs. Lender Processing Services Inc., DOCX


American Home Mortgage

Servicing Inc.

v.

Lender Processing Services

Inc., DOCX, L.L.C

[ipaper docId=63851479 access_key=key-19uowkk1cinmvgl4xmqi height=600 width=600 /]

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Beyond Robosigning Forgers – The Truths Exposed in the AHMSI Suit

Beyond Robosigning Forgers – The Truths Exposed in the AHMSI Suit


Abigail C. Field-

The American Home Servicing lawsuit against consummate and prolific robosigner Lender Processing Services is a pretty good read, but if you don’t have the time, I’ve highlighted the best nuggets.

Page 1: American Home Servicing Inc. says that over 30,000 assignments of mortgage in Texas and across America are fraudulent—“improperly executed, notarized and recorded”.

Page 2: American Home renames robosigners “Special Officers” to suggest the robosigners were legitimately signing the assignments of mortgages.


[REALITY CHECK]

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



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PETITION | American Home Mortgage Servicing Inc. Vs. Lender Processing Services Inc., DOCX “Bombshell Admission of Failed Securitization Process”

PETITION | American Home Mortgage Servicing Inc. Vs. Lender Processing Services Inc., DOCX “Bombshell Admission of Failed Securitization Process”


Via NAKED CAPITALISM-

Wow, Jones Day just created a huge mess for its client and banks generally if anyone is alert enough to act on it.

The lawsuit in question is American Home Mortgage Servicing Inc. v Lender Processing Services. It hasn’t gotten all that much attention (unless you are on the LPS deathwatch beat) because to most, it looks like yet another beauty contest between Cinderella’s two ugly sisters.

[NAKED CAPITALISM]

.

Looks to me like the year was changed from 2009 to 2008 below…VERY SUSPICIOUS!

 

[ipaper docId=113924002 access_key=key-bo4zjmcs0z1kverjrx2 height=600 width=600 /]

 

 

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



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AHMSI sues LPS and DocX over robo-signing scandal

AHMSI sues LPS and DocX over robo-signing scandal


UPDATE 9/25:

PETITION | American Home Mortgage Servicing Inc. Vs. Lender Processing Services Inc., DOCX “Bombshell Admission of Failed Securitization Process”

`

Rumor has it for a bit now that all things robo-signing would see an end shortly after “Labor Day”, so now what happens to those who were unlawfully foreclosed upon? How do you justify that AHMSI knew of this for over a year to come to an unsuccessful agreement to settle with LPS?

HousingWire-

Lender Processing Services Inc. (LPS: 17.07 -2.29%) and its DocX affiliate caused American Home Mortgage Servicing Inc. to lose millions from the robo-signing of mortgage documents, a lawsuit filed Tuesday contends.

Coppell, Texas-based AHMSI filed suit in a Dallas district court against Jacksonville, Fla.-based LPS alleging more than 30,000 residential mortgages across the country were affected by  “improper execution, notarization and recording of assignments of mortgage.”

[HOUSING WIRE]

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



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Goldman to Sell Litton Loan Servicing to Ocwen Financial for $264 Million

Goldman to Sell Litton Loan Servicing to Ocwen Financial for $264 Million


Just recently it was announced that the NY Fed is probing Goldman Sachs mortgage servicing unit Litton Loan Servicing

BLOOMBERG-

Goldman Sachs Group Inc. (GS) agreed to sell Litton Loan Servicing LP to Ocwen Financial Corp. (OCN) for $263.7 million in cash, ending the New York-based bank’s 3-1/2 year experiment in processing home-loan payments.

In addition to the cash payment, which may be adjusted at closing, Ocwen will pay about $337.4 million to retire some of Litton’s debt, according to a filing by West Palm Beach, Florida-based Ocwen. The sale of Litton comes two months after Goldman Sachs wrote down the value of the mortgage-servicing business by about $200 million.


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



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Assured Guaranty Sues Deutsche Bank Over Mortgages

Assured Guaranty Sues Deutsche Bank Over Mortgages


By Shannon D. Harrington and Karen Freifeld – Oct 25, 2010 6:55 PM ET
.

A unit of Assured Guaranty Ltd. sued affiliates of Deutsche Bank AG over $312 million of mortgage- backed securities that the bond insurer guaranteed and says were “plagued by rampant fraud and misrepresentations.”

Assured Guaranty Corp. is asking a judge to force the bank to repurchase the loans, on which the insurer has already paid almost $60 million in loss claims and sees the potential for tens of millions of dollars more, according to a complaint filed today in New York state Supreme Court against DB Structured Products Inc. and ACE Securities Corp. The bond insurer, backed by billionaire Wilbur Ross, is also seeking reimbursement for the claims paid and for future losses.

“The entire pools of loans that Deutsche Bank securitized (and to a large degree originated) in the transactions are plagued by rampant fraud and misrepresentations and an abdication of sound origination and underwriting practices,” Assured said in the complaint.

Repurchases of home loans from buyers and insurers of mortgage securities originated before U.S. housing prices began to tumble in 2007 have already cost the four biggest U.S. lenders $9.8 billion, according to Credit Suisse Group AG.

Assured said more than 83 percent of 1,306 defaulted loans examined in one of the transactions, ACE’s Home Equity Loan Trust, Series 2007-SL2, breached Deutsche Bank’s representations and warranties. In the second deal, Home Equity Loan Trust, Series 2007-SL3, 86 percent of the 1,774 loans breached the agreements, Assured said.

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