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Grand Jury transcripts in foreclosure fraud case released




The grand jury transcripts from the massive robo-signing scam are in. they shed light on the foreclosure fraud scandal that has thrown into question tens of thousands of Las Vegas foreclosures.

The transcripts include testimonies of investigators homeowners and notaries.

Three notaries have all been charged with notarization of the signature of a person not in their presence. a fourth was found dead the day of her sentencing hearing.

Title officers Gary Trafford and Geraldine Sheppard of Lender Processing Services are accused of running the scam by advising employees to forge signatures on default notices between 2005 and 2008.

21 Responses

  1. @Enraged

    Nancy Drew, is nothing more than a “second” name for “M. Soliman” to which NEITHER makes an ounce of sence when posting to this blog.

    Many have asked for resonable “clarification” from Nancy, but it is NEVER forth- comming nor will it ever be…’s like asking a drunk, at last call for an explaination as to “why fish have spots”.

    Nancy does nothing more than confuse…..AS INTENDED, catch my drift?

  2. The A Man,
    I agree with you on Judges and I’ve actually had the same idea about using computers (literal impartiality and no salaries/pensions).

  3. Here are both of the transcripts in one document. the second day starts around page 71

  4. I have been asking about the benefits to banks to file with the IRS notice of tax payments even though they were not paying it but the homeowner was paying his own property taxes. So the below statement from above, what exactly is it saying?

    …There’s another case in California regarding servicer-driven default, where Bank of America simply misclassified payments to make it look like the borrower was paying taxes and insurance through them (the borrower paid it on its own). This is fraud embedded into the software of the servicers, as they seek defaults and foreclosures for purely financial reasons…

  5. @Nanct Drewe,

    Can you please write in a manner that makes sense? What does your statement mean? What are you trying to get us to see? Yes, we know you get most of it but… we don’t!!! Are you here to help or to show off, damn it?

  6. @Nancy Drewe

    What about the grantors/grantees? So we look at it—then what? Just tell us—please!!!

  7. Holiday Discount for Foreclosure Defense

    Posted on December 10, 2011 by Mark Stopa

    With the holidays approaching, many families are thinking about vacations, Christmas gifts, and relaxation. The banks, though, are still thinking about foreclosures. Hence, it’s important that homeowners facing foreclosure not bury their heads in the sand merely because the holidays are approaching. If you’ve just been served, or have a hearing approaching, Santa won’t help you!

    In past years, I’ve seen that many homeowners try to put off their foreclosure woes until January. Often, they’ve said they can afford Christmas gifts or foreclosure defense, but not both. In my attempt to help homeowners have a normal Christmas and foreclosure defense, I created the Stopa Foreclosure Coupon.

    Here are the details, as recently reported on Yahoo! News.
    Mark Stopa

  8. The Next Battleground: OCCUPYOURHOMES.ORG!
    December 10th, 2011 | Author: Matthew D. Weidner, Esq.

    Our nation’s political and legal system, now owned and controlled nearly completely by the banks and institutions, are running up against a very real and formidable threat that is finally getting their attention.

    Courts have been slow to recognize the futility and inequity of throwing citizens into the street, especially with so much fraud and improper conduct coursing through our legal system. Once again, I am not a free house guy. I want families in homes, paying for insurance, paying for taxes, paying for homeowners association dues, keeping power on and preserving the home.

    If the banks want to continue foreclosures, go right ahead, but spend your time focusing on homes that are vacant or abandoned and on homes where the homeowner has not defended.

    From just a very practical perspective why don’t the banks stop fighting the small number of foreclosures that are defended and focus on ones that are abandoned?

    We don’t need legislation this year to speed up foreclosures, we need common sense. Banksters, focus on your abandoned, non-defended homes and let the bankers focus on getting reasonable payments out of homeowners.


    December 10th, 2011 | Author: Matthew D. Weidner, Esq.


  10. All missing boat focusing so much energy on robo-signed documents. Have become a distraction to all of the other data facts nobody looking for. Those harmed look back at the property records grantors/grantees attached to property, for example.

  11. Court Cases Revealing Massive Fraud in Mortgage Business
    By: David Dayen Friday December 9, 2011 11:43 am

    We have a new deadline for the 50, er, 43-state foreclosure fraud settlement. It’s not July Fourth or Labor Day or Halloween, but now Christmas. More holidays have been selected for the target settlement date than have been selected for vignette-laden films directed by Gary Marshall. But this time, Tom Miller means it!

    The deal, which Miller has been trying to negotiate since March, would release the five servicers – Ally Financial, Bank of America, Citigroup, J.P. Morgan Chase, and Wells Fargo – from legal claims on past home loan servicing and foreclosures. The deal would not prohibit individuals from suing the banks, or government prosecutors from suing banks over issues related to the packaging of home loans into mortgage-backed securities.

    In return the banks will agree to pay for what Miller calls “substantial principal reductions” for homeowners who are underwater, and agree to a set of mortgage servicing standards, interest rate reductions, and cash payments to some homeowners who’ve alrady [sic] gone through foreclosure.

    “If what I’ve described is going to happen, this is the only way that it’s going to happen,” Miller said. “The banks aren’t going to do this on their own. The Congress is not going to be able to enact standards like this. The states can’t do it either.”

    Yes, because only Tom Miller can bring the banks to heel. Look how he’s done so far!

    There actually is another entity that can force banks into fair dealing and transparency with borrowers, and even mass reductions in principal or loan modifications. That would be the courts. This is the avenue used by Catherine Cortez Masto in Nevada, after a prior deal on loan modifications with Bank of America amounted to nothing. The Nevada Attorney General sued BofA and, recognizing that banks have not even stopped the robo-signing for which Miller wants to give them a broad liability release, indicted mid-level employees for falsifying documents to county recording offices. The grand jury transcripts in that case, against Gary Trafford and Geraldine Sheppard, have been released, and they show an undeniable pattern of criminality among the document processing companies that feed foreclosures into the system. Local news in Las Vegas has a great story on this:

    The workers, who were employed at Lender Processing Services (LPS) under Gary Trafford and Geraldine Sheppard, admitted to forging signatures on tens of thousands of notices of default.

    Most blamed fear of unemployment for their decision to forge signatures and break the law. One notary said she needed to keep her job while getting through graduate school, another said he had a family to support […]

    A criminal investigator for the Nevada Attorney General’s office said that out of tens of thousands of documents from LPS that his investigation of the fraud examined, an overwhelming majority seemed suspicious.

    “It’s hard to find [a document] that you wouldn’t be suspicious of,” the investigator said, adding that legitimate documents from the company seemed to be the exception instead of the rule.

    It wasn’t just the signatures that were fraudulent. According to the investigator, some of the forged documents contained information that had not been verified by those signing them. This sometimes led to the wrongful foreclosure of houses because of the innacuracies [sic].

    “We’ve had individuals who said ‘I was never late in my payments, but yet my house has been foreclosed on,’” he said.

    It doesn’t make sense that this would be the end of the line for Masto’s investigation, especially as she just announced a partnership with Kamala Harris in California to investigate foreclosure and mortgage fraud. One of the witnesses before the grand jury testified to getting locked out of her home without being notified of a foreclosure action, the home having been sold without her knowledge, and with her belongings still inside. Many of the belongings were eventually stolen. It’s the wild west out there, and the litigation has just begun.

    In another case in a sand-state ground zero for foreclosures, Florida, the state Supreme Court resurrected a case that was actually dismissed by both parties due to a settlement, because of the implications for foreclosures throughout the state:

    The high court’s ruling came in a foreclosure filed by the Bank of New York Mellon. The defendant, Roman Pino, alleged the bank filed a forged document to deceive the court. He asked the judge to penalize the bank by denying it any right to foreclose on the mortgage.

    The judge denied his request because the bank had voluntarily dismissed the complaint. The 4th District Court of Appeal affirmed that decision but asked the Supreme Court to rule on the issue, certifying it as a “question of great public importance.”

    Pino eventually settled, but the majority on the court wants to rule in the case, which could lead to greater clarity in the law on foreclosing based on faulty documents.

    There’s another case in California regarding servicer-driven default, where Bank of America simply misclassified payments to make it look like the borrower was paying taxes and insurance through them (the borrower paid it on its own). This is fraud embedded into the software of the servicers, as they seek defaults and foreclosures for purely financial reasons.

    So Tom Miller can schedule holiday-based deadlines for settlements all he wants. These lawsuits will not stop until the banks stop the criminality. And there’s a sense that judges are finally turning the corner and seeing this fraud for what it is.

  12. Court Cases Revealing Massive Fraud in Mortgage Business

  13. INDIANAPOLIS (AP) — Indiana Attorney General Greg Zoeller is handing out $60,000 to 70 victims of foreclosure fraud.

    The money comes from the state’s new Consumer Protection Assistance Fund. Zoeller said Thursday the money will go to fraud victims who help his office file legal actions against businesses accused of predatory practices.

    Zoeller says that in the middle of the home foreclosure crisis many Hoosiers fell victim to companies offering to bail them out that instead took their money without saving their homes.

    The consumer fund was approved during the 2011 legislative session. Zoeller said it was necessary because fraud victims who win judgments against companies often do not receive compensation. He says the money should help other victims come forward.

    Posted 12/9/2011

  14. How About RoboJustice by RoboJudges. Maybe we should have judges replaced with computers.


  15. Remember———liar’s loans are not borrowers lying, but lenders putting the lie in loans…………thus the endless cover-up,

    see William Black interview below……….

  16. William Black interview

  17. How Andrew Jackson Killed the Federal Reserve

  18. @ Jan van Eck, the links are working as of 9:30 AM Eastern this Saturday morning. I know because I just blew my coffee across the office when reading the transcript where it says that notaries are in place in order to deter fraud.

    Either they’re asleep at the wheel or simply overpowered by the evil spectre.

  19. The links to the actual transcripts for both days of the Grand Jury hearings were working last night; today they come up as “Code 404 Error; not found.” Most peculiar.

    Obtaining the actual entire Transcript and posting it on a site other than SCRIBD would be most helpful. Scribd seems to be beholden to influences that remain opaque. Would seem that “someone” does not want the expert testimony before the Grand Jury to be published, lest it be referenced by Judicial Notice in other lawsuits.

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