BOFA-Aurora Appraisal Fraud $1.8Million Lawsuit Filed in New York for One Homeowner

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Use this form under the heading “Best Practices” — Excellent in every respect. Hats off to Ivan Young of the Young Law Group in Bohemia, New York. I say the Defendants have a collective exposure of several million dollars. If I can find one lawyer that writes a complaint for identity theft on a client like this, we will have completed our forms library. They never could have done this without falsely inflated appraisals, falsely inflated ratings and without stealing the identity of credit worthy borrowers.

Appraisal Fraud Newby- Complaint 12302011

Talk about a lawyer who gets it!! These lawyers all get it and they are after the the biggest players, weaving together the fraud and the participants in the fraud in an artful way that will in my opinion easily get past a motion to dismiss. My only regret is that these lawyers are so good at  pleading and most likely so good at discovery that the case will settle before we get much more out of this case. I am fairly certain that these lawyers were probably threatened with all sorts of consequences if they file the suit. This lawsuit says “Bring it on!”

Here are the things I like about this lawsuit:

  1. It puts appraisal fraud front and center in the complaint. Nothing timid about this.
  2. The Defendants include everyone in the securitization chain including, counter-intuitively but factually correct, the Aurora Lehman Nexus with BOA and Countrywide.
  3. The point is that but for the appraisal fraud none of these players would have played the game at all, and this is clear from the complaint.
  4. BOA “expected or should reasonably have expected its acts and business activities to have consequences within the State of New York, County of Nassau.”
  5. Paragraph 7 correctly states the interrelationship between BOA and the CW companies.
  6. Nailing the appraiser for failing to register in the State to do business. Could lead to blocking the appraiser from filing any defense.
  7. Names the individual appraisers as Defendants — the only way to have someone on the hook who can flip on the other defendants and admit the wrongdoing.
  8. The lawyer figured out the relationships between the different appraisers and appraisal companies before he filed the suit. So when they come in trying to play the shell game they will end up with dirt all over themselves.
  9. The lawyer figured out the interrelationships between the appraiser, the title agents, the title agent etc. before he filed the suit.
  10. The lawyer nails the facts on appraisal fraud. Then traces step by step how the value was inflated.
  11. The allegations weave in violations of TILA and RESPA seamlessly so that the facts speak for themselves without interpretation required.
  12. The clear language of the complaint details the manner in which the Plaintiff was duped and the manner in which the plaintiff was financially damaged in money and credit standing.
  13. “Countrywide fully knew that the loan was based upon a completely bogus appraised value” and “immediately sold, transferred or assigned Plaintiff’s’ first mortgage to Aurora Bank, F.S>B. a/k/a Aurora MSF Lehman.”
  14. RICO, instead of looking like it is out of the blue or a stretch, is an obvious next step, and the lawyer takes it with ease.
  15. READ THE REST YOURSELVES. REMEMBER THIS IS ONE CASE AND NOT ALL CASES ARE THE SAME AND NOT ALL STATES ARE THE SAME. CONSULT WITH A LAWYER!

18 Responses

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  3. Thank you Rob. Thank you for your tireless work and all those pushing back on Chase. The biggest fraud of all will be shown to come from that source.

    Anyone – I found this discussion about pledged wamu loans and the federal home loan bank interesting…in the context of the discussions on this site if a loan was sold to a trust and paid in full ABCD (even though not) and a trust now owns it how can it be pledged to anyone?

    Admit I don’t understand pledged but hasn’t it come to light that most if not all WAMU loans were securitized? The P and A means nothing.

    http://victoryoverchase.blogspot.com/2012/01/what-about-wamu-pledged-loans-federal.html

  4. Wow.Thats what im talken about Cuz!

  5. WHY JP MORGAN CHASE IS THE UNLIKELY OWNER OF WAMU’s HOME LOANS? “WAMU’s Gory Autopsy: A Disturbing Crime Scene.”

    NEW LINK: http://www.nationalwamuhomeownerssupportgroup.com/Home_Page.html

    I was wondering if you guys can change the old link for the NWHSG on this site to the new link above. We have finally uncovered the bombshell smoking gun. (More on that to follow…) WE now have to reassemble our group and finish the job we started.

    The old WAMU group site (I and Jeff B. used to own…) is officially hijacked. I think that even “3doggranny” has no control over it any more. (I have sent this information by email to her as well, to be public and fair, to facilitate constructive and meaningful re-coordination of our national general membership to finish what we started 3 years ago.) I am asking the site owners here to disengage the link to your websites and add the NEW one as shared above as the legitimate OFFICIAL site link for all WAMU homeowners . Afterall, I am the original, ligitimate founder of this group. The truth is, she is focused on their 32 member law suit with Jeff Barnes, as she should be. We wish them the best of luck and good hunting against JPMC. (….The enemies of our enemies are our friends.)

    Yet, not one single national call, or any other on-going National initiative was ever performed in my “absence.” I shared the keys with her and we all have seen where that led. We are now going to re-vamp our national calls again and finish our mission. I ask for your help in this matter. The general membership (outside of their lawsuit) will back me on this.

    NING, the old website company, is owned by Glam Media. Glam Media had an executive in Palo Alto CA, by the name of Robert Tas. He now works for… JPMorgan Chase in San Francisco. Go figure??? It makes sense JPMC doesn’t like our old site. Raised too many uncomfortable questions??? (Can’t wait to see what happens to my new website linked above….)

    http://www.lead411.com/Robert_Tas_6686166.html

    (glam exec) “For Glam Media, Inc email addresses with the @glammedia.com format as well as facebook info, twitter, linkedin data, as well as biography data for Robert Tas, you may check in Glam Media, Inc’s Lead411 profile. Robert Tas is currently the Senior Vice President GlamAdapt Platform for Glam Media, Inc” > http://www.yatedo.com/p/Robert+Tas/normal/0861785e518c3d795faa0a04d

    (JPMC exec) Robert Tas – > Managing Director at JP Morgan Chase & Co. – San Francisco Bay General Summary Locality : San Francisco Bay Professional Experience > 2011 – Present – Managing Director – JP Morgan Chase & Co. Financial Services Digital Marketing & e-Commerce 2010 – 2011 SVP Glam Adapt Platform – Glam Media > > How many Robert Tas’s are their in San Francisco/Palo Alto in the upper managment tech field?? What are the odds???

    GLAM OWNS NING! Sorry, I just don’t trust JPMC very much, especially over a pile of MILLIONS to TRILLIONS(?) of dollars???

    Part 2 of the WAMU’s Gory Autopsy will show the FINAL PROOF, that JPMorgan Chase, WAMU and the FDIC are “suspect” in 10,000’s of wrongful WAMU foreclosures. We cracked the code – the proverbial smoking gun – the evidence. I will leave that BOMB-SHELL to Bill Paatalo of BPIA to drop in the next few days. He has assumed responsibility for that as it part of his own WAMU case. He will be publishing it then. The information we have, we believe, will need to get into the hands of EVERY WAMU HOMEOWNER and their QUALIFIED ATTORNEYS. THIS IS THE GAME CHANGER. THIS IS IT! IT IS GAME-OVER!

    The National WAMU Homeowners Support Group and its members deserve to see this information published across the news outlets across the country before JPMorgan Chase can find a way to “clean up” the mess – with government help???

    2012 is the year of redemption and vindication for the 10,000’s of (potentially? lol’s) defrauded Wamu homeowners. This ends NOW! WE are now ready to finish what we started.

    -Rob

  6. I would love for a law firm to handle my situation! Cant find anyone in Augusta, Georgia willing or strong enough to take them on. I think they did everything illegally in taking my home. Sad part about it was they sent me a letter asking for more information to complete my modification…..THREE WEEKS AFTER THEY TOOK OUR HOME!! Idiots didnt even know they took our home. I have no money since savings and 401K were drained to try and save our home. Maybe thats why no one wants to help. But I guess I could understand because if they cant win the case , they get no money either. Please keep us in mind if there is anyone our there. I have faxes, next day air, emails, etc. for 13 months of contact.

  7. Neil attached a copy of the complaint above. Below is the link:

    http://livinglies.files.wordpress.com/2012/01/appraisal-fraud-newby-complaint-12302011.pdf

    ENJOY

  8. i would like to see the actual complaint to look it over for future use to save home in federal court, can this be furnished to me? does any one have a copy in length. my email is waderobert65@yahoo.com. bob

  9. […] Appraisal Fraud Newby- Complaint 12302011 […]

  10. WEDNESDAY, JANUARY 11, 2012

    KingCast and Mortgage Movies say: Recall Scott Walker for protecting fraudulent foreclosure by the banksters at Union Federal and Anchor Bank.

    http://mortgagemovies.blogspot.com/2012/01/kingcast-and-mortgage-movies-say-recall.html
    Caught on video: Recall Scott Walker for protecting foreclosure fraud.

    video: http://www.youtube.com/watch?v=hxeoH66ruqo

  11. WEDNESDAY, JANUARY 11, 2012

    KingCast and Mortgage Movies say: Recall Wisconsin Governor Scott Walker for protecting fraudulent foreclosure by the banksters at Union Federal and Anchor Bank.

    http://mortgagemovies.blogspot.com/2012/01/kingcast-and-mortgage-movies-say-recall.html

    Caught on video: Recall Scott Walker for protecting foreclosure fraud.

    As a former AAG and licensed title insurance producer myself, I can’t wait to debut this 14-minute short film in the late afternoon. It is exporting to the computer now at 12p EST and I will need to find some good broadband here in Harrisburg, PA where I am following a disturbing domestic violence case that is part of a much larger picture of abuse including the Penn State molestation debacle and today’s story on a series of women who have either been hurt or killed by jackass men who give the rest of us a bad name. Anyway, wait until you see how Scott Walker’s staff attorney Brian Hagedorn gave us the brush off, he didn’t even accept ANY of Mr. Paul’s written paperwork while trying to pretend that His Excellency had no authority to issue a Executive Order or to in any way investigate the matter. Hagedorn also thinks that same-sex couples should not have hospital visitation rights. From the new movie you can also see that Walker and Hagedorn hate women and minorities, so there’s fun for everyone with these two, Katy bar the door!
    [video: http://www.youtube.com/watch?v=hxeoH66ruqo%5D

  12. I think we’d have to see the filings to know whether or not the trade name deal is accurate here. IMHO, CW would have been legal to write this loan as Countrywide Home Loans d/b/a America’s Wholesale Lender, but NOT simply as America’s Wholesale Lender.

    I’ve read Pagano and Silberstein, and at least that’s my interpretation, as I’ve seen where CW originated under both of these names.

    A note of interest, I have a case somewhere where AWL assigned the mortgage to CW d/b/a AWL. That could come back to bite CW in the keester.

  13. Many years ago I remember an appraiser hired to do a personal
    property ask: “how much do you want it to appraise for”.

  14. Charles, the alleged facts of this case are so horrendous and so grotesque that the lack of alleging reviewers were complicit is not going to influence the outcome. I predict (as does Neil) that this case is headed for a quick settlement, probably by a write-off of the mortgages.

    One element the attorney had not quite right: they allege that Countrywide was doing business as and also known as “America’s Wholesale Lender.” That part is based on the facade that Countrywide was setting forth. Case-law sets forth that corporations cannot do mortgage lending under a so-called “trade name.” Two seminal cases in the Conn. Court of Appeals establish that principle: See Countrywide v. Pagano, and Countrywide v. Silberstein. By doing so, Countrywide was engaging in another form of Racketeering, which was unalleged in the Complaint. I think I shall write plaintiff’s counsel on that. (Note: in Pagano, the Note became unenforceable).

  15. I haven’t read the complaint yet but if not included, what is necessary is attacking the appraisal review process as part of the underwriting guidelines required as part of the qualification process. There WERE over-seers and additional layers under the employ of the originators to prevent these isues and of course, being they were hired by the originators did their bidding to get the loans through to earn their bonuses.

    I think I can recall maybe twice having a review appraiser disagree with the appraiser hired initially that was paid for by the borrower but hired by the “lender”…and then the difference was related to comparables and not enough to make a difference in getting the loans through.

    One again I’ll harp on it…the appraisers had a duty to appraise “absent undue market influence” and they failed miserably being aided and abetted by the “lender” or “originator” from the start…how this cannot be conspiracy to commit fraud and felonious is beyond me.

  16. I would like to read the rest of the complaint but it won’t open!
    I would like an explanation; what is the Aurora Lehman Nexus? I too have a dreaded loan that is serviced by ALS/ Aurora Bank/Lehman Bros.

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