SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM
REPRESENTATIONS BY COUNSEL ARE NO SUBSTITUTE FOR PROOF
SEE 52867919-In-Re-Wilson-Memorandum-Opinion-07-Apr-2011
NOTABLE QUOTES:
“The fraud perpetrated on the Court, Debtors, and trustee would be shocking if this Court had less experience concerning the conduct of mortgage servicers. One too many times, this Court has been witness to the shoddy practices and sloppy accountings of the mortgage service industry. With each revelation, one hopes that the bottom of the barrel has been reached and that the industry will self correct. Sadly, this does not appear to be reality. This case is one example of why their conduct comes at a high cost to the system and debtors.”
“The abuse begins with a title. In this case, Ms. Goebel was cloaked with the position of “Assistant Secretary,” in a purposeful attempt to convey an experience level and importance beyond her actual abilities. Ms. Goebel is an earnest young woman, but with no training or experience in banking or lending. By her own account, she has rocketed through the LPS hierarchy receiving
92 12/1/10 TT 382:5-8. 93 12/1/10 TT 382:9-384:21. 94 Id. 95 12/1/10 TT 342:25-343:10. 96 12/1/10 TT 341:5-8, 14-19.
21
Case 07-11862 Doc 304 Filed 04/07/11 Entered 04/07/11 08:07:49 Main Document Page 22 of 26
promotions at a pace of one (1) promotion per six (6) to eight (8) month period.97 Her ability to slavishly adhere to LPS’ procedures has not only been rewarded, but has assured the development of her tunnel vision. Ms. Goebel does not understand the importance of her duties, and LPS failed to provide her with the tools to question the information to which she attests.”
“It is evident that LPS blindly relied on counsel to account for the loan and all material representations. In short, the affidavit was nothing other than a farce and hardly the evidence required to support relief. The facts supporting a default are the lender’s to prove, not counsel’s. In this case the lender and LPS cloaked Ms. Goebel with a title that implied knowledge and gravity. LPS could have identified Ms. Goebel as a document execution clerk but it didn’t. The reason is evident, LPS wanted to perpetrate the illusion that she was both Option One’s employee and a person with personal and detailed knowledge of the loan. Neither was the case.“
The hearing on the Motion for Sanctions provides yet another piece to in the puzzle of loan administration. In Jones v. Wells Fargo,104 this Court discovered that a highly automated software
103 12/1/10 TT 341:5-8, 14-19; 379:4-13. 104 Jones v. Wells Fargo, 366 B.R. 584 (Bankr.E.D.La. 2007).
25
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package owned by LPS and identified as MSP administered loans for servicers and note holders but was programed to apply payments contrary to the terms of the notes and mortgages. In In re Stewart,105 additional information was acquired regarding postpetition administration under the same program, revealing errors in the methodology for fees and costs posted to a debtor’s account.”
Submitted by Nye Lavalle
First, thanks to Lisa Epstein for her dedication and forwarding this ruling to me… Next, as you each know, for years, I have documented thousands of abuses, schemes, frauds, shams etc… involved in mortgage servicing, bankruptcy, securitization, foreclosure etc… I also was the first to show the scams and schemes of Fidelity National and its off-spring such as LPS.
I reduced the banking industry’s scams and abuses into three primary areas or categories OVER 12 YEARS AGO!!!!. The three (3) major issues I have informed you all of are as follows:
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud | Tagged: personal knowledge, PROOF, representations by counsel |
[…] View the original article here Tags:Accounting, fraudulent, Improper, Judge, Practices, Sanctions, Servicer, SLAMS. This entry was posted on Friday, April 22nd, 2011 at 2:43 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a comment, or trackback from your own site. You can . « Mortgage Secrets for Investors Leave a comment Name (required) […]
Elizabeth, on April 13, 2011 at 2:58 pm said:
Come on Members let get NDex on this list I just called the OOC office they said you can name your bank and NDex if they are the ones foreclosing, with those “Products” created by Barrett, Daffin, Frappier, Tuner and Engel LLP the fax number for a complaint is 713-336-4301 if you file a complaint on line you will be assigned a number PLEASE I have a CLASS Action suit against them the more complaints the better
REPRESENTATIVE CONTACT INFORMATION
Relationship “x”
Authorization “x” Other
Name of Represenative
Congressperson First – use Washington DC Address.
You can preview your on-line complaint, copy and paste. You have to wait for a short time for the OCC to send an email assigning a Complaint #.
Send the Complaint# and copy of the complaint to your Congressperson via fax so they can request a Congressional Inquiry on your behalf.
NDEX a Dolan Co:
Subsidiaries:
Exhibit 21
SUBSIDIARIES OF DOLAN MEDIA COMPANY
Subsidiary State of Organization
American Processing Company, LLC Michigan
Arizona News Service, LLC Delaware
Cleo Company, Inc. Delaware
Counsel Press, LLC Delaware
Daily Journal of Commerce, Inc. Delaware
The Daily Record Company Maryland
Daily Reporter Publishing Company Delaware
The Detroit Legal News Publishing, LLC Michigan
Dolan APC, LLC Delaware
Dolan DLN, LLC Delaware
Dolan Finance Company Minnesota
Dolan Publishing Company Delaware
Dolan Publishing Finance Company Minnesota
Finance and Commerce, Inc. Minnesota
Idaho Business Review, Inc. Idaho
The Journal Record Publishing Company Delaware
Lawyers Weekly, Inc. Delaware
Legal Com of Delaware, Inc. Delaware
Legal Ledger, Inc. Minnesota
Long Island Business News, Inc. New York
Missouri Lawyers Media, Inc. Missouri
National Default Exchange GP, LLC Delaware
National Default Exchange LP Delaware
National Default Exchange Holdings, L.P. Delaware
National Default Exchange Management, Inc. Delaware
NDEx Technologies, LLC Texas
NDEx Title Services, LLC Texas
NDEx West, LLC Delaware
New Orleans Publishing Group, Inc. Louisiana
NOPG, L.L.C. Louisiana
THP/NDEx AIV Corp. Delaware
THP/NDEx AIV, LP Delaware
Wisconsin Publishing Company Minnesota
I had to look up NDEX.
Is this in reference to:
National Default Exchange, L.P.?
“Mr. Frappier is President of National Default Exchange (NDeX)”
————————————————————
Monday, October 5th, 2009, 10:16 am
National Default Exchange (NDeX) will enter the Florida default servicing market through an agreement to purchase the mortgage default processing services and related title business of the Jacksonville-based James Albertelli Law Firm.
NDeX is a mortgage default processing services provider in California, Texas, Michigan, Minnesota, Indiana and Georgia. It is a majority-owned subsidiary of Minneapolis-based Dolan Media Company, a provider of professional services and business information to the legal, financial and real estate sectors.
——————————–
As part of the agreement, the Albertelli firm will provide exclusive referrals of residential mortgage default and related files to NDeX for servicing. NDeX will be paid a fixed fee for each residential mortgage default and other file referred by the law firm to NDeX for servicing. The deal has an initial term of 20 years, with two 10-year automatic extensions that can be voided by either party, according to the filing. In addition, for the first two years of the deal, NDeX will exclusively provide mortgage default processing and related title services to the Albertelli firm in Florida.
In acquiring the mortgage default processing services and related title business of the Albertelli firm, 91 of the firm’s employees will become NDeX employees. James Albertelli will join NDeX as executive vice president, while still remaining managing partner of the law firm.
The deal gives NDeX a foothold in the growing default servicing market in Florida, said Dolan Media Company chairman, president and CEO James Dolan.
“We studied the Florida market for some time before deciding on this entry point,” Dolan said. “Florida is a challenging state for our sector as there’s plenty of work to do for law firms and tremendous volume growth.”
NDeX paid $7m in cash at the transaction’s closing and will pay an additional $2m in equal installments of $1m on Oct. 1, 2010 and Oct. 1, 2011, according to a filing at the Securities and Exchange Commission.
NDeX may be obligated to pay the Albertelli sellers up to an additional $9m in three annual installments of up to $3m each, based on adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the acquired servicing business during the three 12-month periods ending Sept. 30, 2010, Sept. 30, 2011 and Sept. 30, 2012.
Write to Austin Kilgore.
April 15, 2011 7:18 PM ET
As of September 2, 2008, National Default Exchange, L.P. was acquired by American Processing Company, LLC. National Default Exchange, L.P. provides mortgage default processing services in California, Georgia, Michigan, Indiana, and Minnesota. The company focuses on offering default processing services directly to lenders and loan services. It also provides property title services and licenses specialized software for the mortgage banking industry. The company was incorporated in 2005 and is based in Addison, Texas.
15000 Surveyor Boulevard
Addison, TX 75001
United States
Founded in 2005
Key Executives
National Default Exchange, L.P. does not have any Key Executives recorded.
businessweek.com research
Barrett Daffin Frappier Turner & Engel, LLP
15000 Surveyor Boulevard, Suite 100
Addison, Texas 75001 (Dallas Co.)
972-386-5040
“ NDeX lets lawyers and law firms do what they do best…practice law. Let us show you how you can
speed up your timeframes, increase accuracy and strengthen your ongoing
and potential client relationships.
NDeX
National Default Exchange (NDeX) provides comprehensive mortgage default processing services to law firms nationwide.
With national reach and established relationships and a targeted, state-by-state approach, NDeX provides its law firm clients with unmatched service through its proprietary, state-of-the-industry Veritas Case Management System.
With origins as the highly successful processing unit of one of the nation’s largest and most progressive law firms serving the real estate finance industry, NDeX offers an efficient, productive and time-tested approach to default processing. NDeX respects the value of relationships and understands the nuances of local knowledge and experience.
The advantages of working with NDeX include:
Support of all foreclosure-related activities, including loss mitigation.
Advanced proprietary case management software and automated electronic filing and processing systems.
Compliance with lender guidelines, case audit standards and reporting formats.
Adherence to regulatory and consumer protection laws and standards.
Established relationships with the nation’s major servicers allows you to take on new work without investing in processing infrastructure.
Adaptability to foreclosure and bankruptcy case levels in without the expense, inconvenience or disruptions associated with adjusting staff size.
IT services and support for non-legal processing staff.
NDeX’s comprehensive default processing support includes:
Foreclosure, Bankruptcy, and Eviction Processing
Referral and File Opening
Proof Of Claims
Motions
Property Sales
Billing
Conveyance Deeds
Servicer\Borrower Communication
Reaffirmation Agreements
Reporting
Reinstatement & Payoff
Loss Mitigation
Invoice Processing
Accounting Processing
Accounts Receivable Management
Accounts Payable
Cash Application
Information Technology Services
Case Management Solutions
Interfacing With Servicers and Third Party Systems
Help Desk Operations
E-Mail
Spam\Virus Prevention
Network Security
Backup and Recovery
Telephony
Continuous Improvement Processes
248-432-9000
NDeX
31440 Northwestern Hwy., Suite 300
Farmington Hills, MI 48334
A member of The Dolan Company Professional Services Division
Monday, July 28th, 2008, 12:21 pm
American Processing Company, LLC, said Monday that it had signed a definitive agreement to purchase National Default Exchange, otherwise known in the default industry as NDEx — and it’s a transaction that signals a strong shift in strategy among some of the more powerful players in the default management space.
The deal involves back-office spin-offs of two well-known creditor’s right law firms, Texas-based Barrett Daffin Frappier Turner & Engel, L.L.P. and Michigan-based Trott & Trott, P.C. Both are among the largest firms in the nation that manage foreclosures, evictions, and related legal work for their clients.
American Processing Company is tied to Trott & Trott, while NDEx is tied to Barrett Daffin et al — or, more precisely, David Trott is president of APC and managing attorney at the law firm that bears his name, while Michael Barrett is president at NDEx and managing partner at the law firm that bears his name.
Minneapolis, Minn.-based Dolan Media Co. (DM: 12.00 -0.17%) holds an 88.6 percent stake in APC, while Dallas-based private equity firm Trinity Hunt Partners owns an unknown stake in NDEx. The NDEx purchase by APC will primariy be funded by a $64 million private placement of Dolan Media common stock and by debt from the company’s credit facility, the company said on Monday.
Big business, as foreclosures surge
Although NDEx operates primarily in Texas, California and Georgia, the company has a huge footprint in the Golden State, where it provides trustee services for lenders and servicers. A license to practice law is not required to manage the mortgage default processes in California; in most other states, attorneys must oversee such matters.
“This transaction will establish APC’s footprint in the state of California, the largest and one of the most active default management markets in the United States,” said David Trott. “Our primary focus in the year ahead will be on integrating NDEx with APC and supporting the continued growth of our operations.”
APC and NDEx each use proprietary automated workflow process management systems, and Trott said the Dallas processing operations of NDEx would be maintained; over time, the best aspects of the APC and NDEx technology platforms would be combined, he said.
“The combination of APC and NDEx builds a stronger, more efficient company that is positioned to offer better service to clients,” said Michael Barrett. “Now that we will provide default services in six states, we look forward to leveraging our opportunities in technology, customer service and marketing to further drive our business.”
It’s a booming market, to be certain. The number of foreclosures nationwide is expected to surge well past one million this year, with many of those being in the six states that will be served by the combined company.
Not that the company is alone in the crowded default outsourcing space; part of the reason for the merger is likely the idea that there is strength in numbers.
Attorneys in the default space have been trying to years to put together regional and national operations to capture volume in the flat-fee default services market — a key competitor in this particular case would be the Illinios-based LOGS Network, which operates a network of attorneys offices and trustees nationwide.
Disclosure: The author held no positions in DM when this story was published; other indirect holdings may exist, as well, via mutual fund investments. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.
http://www.housingwire.com/2008/07/28/law-firm-backed-default-outsourcers-to-merge
john nice post, thx
Come on Members let get NDex on this list I just called the OOC office they said you can name your bank and NDex if they are the ones foreclosing, with those “Products” created by Barrett, Daffin, Frappier, Tuner and Engel LLP the fax number for a complaint is 713-336-4301 if you file a complaint on line you will be assigned a number PLEASE I have a CLASS Action suit against them the more complaints the better
OCC Takes Enforcement Action Against Eight Servicers for Unsafe and Unsound
Foreclosure Practices
http://www.occ.treas.gov/news-issuances/news-releases/2011/nr-occ-2011-47.html
One of the main problems with all of this is fraud on the courts. It has been going on for at least three years. Fraud on the courts is a very harmful development in our judicial system. I am very happy to see in the last few days that the judiciary is getting the picture and is doing something about it. Burmese8@yahoo.com
Too bad Aurora Loan Services LLC is not affected by all these investigations. Too bad all those hurt by Aurora, Cal Western and MERS can never be compensated for their losses. These investigations are late for those who lost their homes.
Courts routinely admit representations by counsel as substitutes for facts which must be tried.
Yet: lawyers are allowed to lie to the judge with relative impunity.
This ruling starts to restore the integrity of the Judiciary.
William P Foley CEO of Fidelity National Title and all of his past and present affilations are based on scams. Wm Foley was Chairman of LPS Docx till the fraud started to unravel and he retired to help push his fraud thru the banks and the courts
.
He is a Madoff X 10000000.
The wise man frets over matters that the simpleton takes in stride. Falling home prices is a wise mans problem.
The simpleton leads a very simple life. He wants a house to live in. He doesn’t see it as something to flip for a profit. His house is worth just as much today as it was five years ago — more if he has made any minor improvements.
The wise man obsesses over the sale value of a house he never intends to sell, wastes time on Zillow, and is more concerned with his net worth than with what he has in front of him.
Naturally, the wise man looks down on the simpleton. But equally, the simpleton looks down on the wise man. I live my life with one foot in each camp, dealing with some highly educated wise men and some simpletons. It isn’t at all clear to me that wisdom brings happiness.
Judge Magner has been coming down hard on mortgagees and law firms for quite a while already. This is a continuation of her efforts and is a well-reasoned and well-written opinion. Of course, it doesn’t help the mortgage company and law firm when the facts are as good for the borrower and trustee as these were.