Archive for mortgage fraud

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Testimony Urging Passage of Foreclosure Moratorium Where Financial Institution Fraud Occurred

By Robert Gnaizda
No efforts by the banking industry, by the federal regulators or Secretary of the Treasury Paulson will protect the vast majority of those who live from paycheck-to paycheck from foreclosure. Hope Now’s failures are a classic example of the failure of voluntary action without the threat of effective action via either class action [...]

Popularity: 5% [?]

US Attorney - Countrywide Home Loan Employee Arrested For Selling IDs of Loan Customers

LAWFUEL - Legal Newswire - Two men were arrested today on charges related to the illegal access of computers containing personal identification information of Countrywide Home Loan customers and the illegal sale of the data, announced Salvador Hernandez, Assistant Director in Charge of the FBI in Los Angeles, and United States Attorney Thomas P. O’Brien.
Rene [...]

Popularity: 6% [?]

The person asking the questions of the borrower is the first line of defense in a system designed to prevent fraud, period.

Submitted by LoanWorkout.org Reader Rick 
You know as well as I do, the majority of people who are now underwater with their loans were all encouraged to go for it by the RE agent AND the Loan Officer. Why??? Because the RE agent and LO would get a commission for loaning out someone else’s money!
The person [...]

Popularity: 2% [?]

Your Loan Documents May be the Secret Key to Obtaining a Loan Modification

I have studied and written about the subject of loan modifications probably more than anyone in the world. My studies and writing have opened my eyes to how the loss mitigation process works and what a homeowner needs to do to get a loan modification with their lender or servicer.
What started out has just a blog to help [...]

Popularity: 7% [?]

House representatives argue that new Federal funds are needed to defend homeowners against foreclosure

Amen!
It finally looks like members of our congress finally realize that the Hope Line, AKA 995-Hope, operated by Neighborhood Works, is not a cure all for distressed homeowners.
In fact, many who call the Hope Line are in need of legal assistance. HUD trained counselors who operate these phone lines, do not have the legal savy or mortgage skills to [...]

Popularity: 1% [?]

The Consumer Continues to be Mislead and Swindled = Business as Usual in America

Consumers do not have a chance in America. This country is ran by greedy snake oil salesman who peddle their wares in just about every imagineable form of commodity and service.
The Great American Swindle has been going on for ions folks.
We are just now in the “Great American Homeowner Swindle” phase. These snake oil salesman [...]

Popularity: 6% [?]

Fighting mortgage disservice

Late-fee profits
Some say one problem is that mortgage servicers make their money from late fees and other penalties charged to borrowers.
“There’s a built-in incentive for the servicing industry to really rip people off,” contends Richard Gaudreau, a Salem attorney who specializes in consumer bankruptcy law. “If they can throw your payment into a suspense account [...]

Popularity: 1% [?]

You have to jail the source. Wall Street, then the Banks/Lenders, then the brokers and maybe some consumers

Reader Contributed - Chris the Mortgage Broker - In response to this post
I’m a broker and let me lend a little light on who should go to jail first. And yes, JacMac is right; you will be attack for your comments before the day is over. Get ready
You have to jail the source. Wall [...]

Popularity: 1% [?]

Moe is Looking for Experienced Underwriters to Assist in Mortgage Fraud and Predatory Lending Cases

The Loan Safe Advocacy Group is looking for seasoned underwriters with a minimum of 5 years or more experience to assist as a mortgage fraud investigator and in predatory lending investigations.
This unit will be operated by Moe and Poppy will be the lead fraud investigator.  
You will assist in forensic loan document, mortgage broker disclosure, appraisal and [...]

Popularity: 1% [?]

Mortgage brokers are still committing fraud & submitting bad loans = Business as usual

By Poppy (30 year mortgage industry veteran/senior underwriter) 
It has been a long, difficult and contentious day….between the Brokers, AE’s and Processors, none of whom appear to know that there are two “g’s” let alone a “t” in mortgage.  It leaves one not sure whether to be so angry as to find them all and pound some [...]

Popularity: 1% [?]

Safe Loan Modification Service

888-432-6634

M-F 8am-7pm PST

Open Saturdays 9am-3pm

Law Office of Gregory A. Paiva & Associates

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    • I can relate with this couple. I contacted WaMu in a proactive effort to get assistance during a hardship ...
      disillusionedVeteran | 3Sep08 | More
    • Did they change the terms of your loan to an arm? This is too risky
      catan785 | 13Aug08 | More
    • I am in limbo myself. Countrywide offered me a modification however the interest rate would adjust in five years. ...
      catan785 | 13Aug08 | More