MERS’ Owners Offer Bogus Title Certification

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WE’VE GOT THEM ON THE RUN

Banks and servicers  concede that title is probably not going their way in the courts

Editor’s Notes:  

SECURITIZATION SCAM REACHES NEW HIEGHTS IN DOCUMENT FABRICATION

In a bold move to head off obviously correct arguments about the lack of authenticity of title or authority to pursue fake foreclosures, the banks and services and title companies have come up with a new product: A Title Guarantee Certificate and Policy, that on its face will get Judges, lawyers and even homeowners thinking they were wrong to challenge the chain of ownership and that the foreclosure is legitimate. This gives cover to the investment bank who can now pitch bad loans over the fence onto investors who were explicitly and expressly protected from risks associated with bad or shaky loans.

Taken straight out of the pages of the con man’s playbook, the banks and servicers have come up with another fabricated piece of paper to waive in front of ignorant judges to prove that the chain of title “is what it is.” This ignores the basic rule of evidence that while the title  report and policy may be admitted into evidence they are not admitted (if the lawyer does his job) as to what is contained in them — nor, more importantly are they proof of title. But the newly minted “Foreclosure Title Guuarantee Certificate and Policy” issued by 1st American title is probably going to shift the burden of persasion over to the borrower at least temporarily. The only remedy for the homeowner is to file for discovery an convince the judge that you are entitled to full, complete, and accurate answers.

Here is the scam once used extensively with Lloyd’s of London. I had a client whose business was conning people out of their money but he stuck with large institutions and people with enough wealth they could afford to lose some money. He borrows several bars of lead made up in the shape of platinum bars. He buys a Lloyd’s certificate for a fee and his indemnification of Lloyd’s that neither he, nor anyone through him or even as co-beneficiary of the insurance policy will make a claim and if they do, he will pay for the defense and pay the damage award.

At the same time he has already sold the lead to someone else under an arrangement whereby he maintains the lead bars in the vault for safe-keeping. So like the rating companies and appraisers, Lloyd’s issues the policies, collects the fee, gets the signature of the buyer of the policy that no claims will be made, and Lloyd’s retreats into the background. So if Lloyd’s wants good faith money on deposit, this only re duces the “profit” or reward from the scam but ti doesn’t eliminate it. At worst one scam will pay for the other.

The lead/iron bars are put into a high security vault with the Lloyd’s of London certificate, appearing to authenticate the bars as platinum and insuring them for millions of dollars. My client goes out and buys 3 Sheraton hotels in Houston using the “platinum” as collateral. He drains the hotels dry in three or four months, holds onto them another month or two and then gives the hotels back to the previous owners in lieu of foreclosure.

When the hapless former owners go to the vault and collect the collateral  they bring it to a professional who states that it is not platinum it is lead and pretty rough lead at that looking nothing like platinum. So then they go to Lloyd’s who confirmed the issuance of the certificate and policy of insurance who informs them that the policy no longer covers the loss because of a breach of the indemnification.

This is what the banks, service companies and title companies who own MERS are suddenly coming up with and it is advertised that this special certificate and title insurance policy can be procured at the beginning or in the middle of a foreclosure. No such insurance product ever existed before and none will exist for very long now, but it might be enough to convince judges and demoralize homeowner and their attorneys to get another few hundred thousand foreclosures through the system.

What lawyer should do in practice is to demand to see the entire transaction and correspondence file. The title company will be forced to reveal the separate declaration in which the promise is made  not to ever make a claim and that if there is one, the bank or servicer “indemnifies” the ttile company and holds the title company harmless from any potential payment of any potential claim, although the payment will appear to look like it came from the title carrier. If they don’t show it, then they really are on the hook for the moneny suppoedly guaranteed in the policy.

This is the same story as the fake securitization of badly originated loans in which the paperwork from the very start was wrong and the parties who loaned and borrowed money wer left with no documents setting forth the terms of repayment — except the documentation contained in the PSA that establishes co-obligors and guarantors of payment.

Thus the newest document from the fake securitizers is another official looking instrument that effectively disposes of the issue of title — unless it is tested in court. The carrier dare not withhold the declaration that they can’t be responsible for payment without becoming responsible for payment bringing their exposure up from zero to hundreds of thousand of dollars on each transaction.

DO NOT ACCEPT TITLE POLICIES WITHOUT ASSURANCES THAT THEY WILL PAY AND THAT NO OTHER AGREEMENT EXISTS IN WHICH THE TITLE COMPANY IS PROTECTED FROM PAYING. ATTORNEYS SOULD BE ALERT FOR THIS IS A DEFINITE AREA OF POTENTIAL MALPRACTICE THAT IS MOST CERTAINLY GOING TO HIT OUR SHORES. HOMEOWNERS SHOULD MAKE CERTAIN THEY HIRE A LICENSED ATTORNEY WITH PLENTY OF EXPERIENCE IN NEGOTIATING THE TERMS OF THE TITLE COMMITMENT AND TITLE POLICY.

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45 Responses

  1. […] MERS’ Owners Offer Bogus Title Certification (livinglies.wordpress.com) […]

  2. […] Read more… Posted in Banks, MERS, News Around The Country, States « The Lies They’re Telling US to Make Us Stupid (Again) CAR- California Assn. of Realtors Tries to Kill Homeowners Bill of Right » You can leave a response, or trackback from your own site. […]

  3. If you want to win you have to fight the fight where it originated, in Manhattan. No other state should be allowed to decide NY law nor should you. The securitization occurred in NYC so this is where all the evidence actually resides as well as the witnesses and judges who know NY law. This fight is an administrative procedure there and is cheaper than you trying to hire a local attorney and waste your life chasing your tail.

  4. July 2011: Top 10 Lawsuits Impacting the Title Industry
    http://www.alta.org/publications/titlenews/11/Volume90_Issue07.pdf

    Chicago-based Attorneys’ Title Guaranty …. Without any delays factored in, a Morgan Stanley report predicts the new ….. and policies for the convenience of … MERS. Members of Title Counsel providing the summaries include. Marjorie Bardwell, Fidelity National …… through July 1, 2012, on … Certification Data Report

  5. Please fix the spelling errors in the “Editor’s Notes”.

  6. Even true TITLE INSURANCE is bogus, fraud & scam according to links at top of page: http://kareemsalessi.wordpress.com/foreclosure-crimes/

  7. @Lastof the Mohicans

    Thanks—I kind of liken it to when families fight…usually stress builds up and you let it out a little bit even though it may get a little ugly…and then you vow to do better…that’s what it feels like to me, anyway…I personally am not a hater—but I do get a little too emotional sometimes…to me, here on LL we are kind of like a typical fairly disfunctional family…sorry ’bout that.

  8. Nora C
    do i know you. funny, we need this

  9. @enraged, @tnharry, @carie, @sean park;

    In any war, the first line in any offensive of strategic fighting, is to turn your allies against each other. The criminals are winning because you prefer to throw grenades at each other. Do us all a favor and pack it in and raise your white flag…Because you are doing no one here or for that matter anyone anywhere, any good, by fighting amongst yourselves…Sincerely.

  10. @Carie
    I have something similar; CRS. I also have Systemic Scleroderma which causes brain fog. I drink 20 Mule Team Borax and that helps. The CRS is age-related tho. I just Can’t Remember Shit anymore. I learned about the Borax rememdy on earthclinic.com on Dr.Ted’s thread. I got well on it! Now if the white vans would just stop hitting me with those EMFs…
    BTW, 20 Mule Team is almost pure Borax, or Sodium Borate Decahydrate. (not to be confused with Boric Acid which is toxic!) If you really do have brain fog, joint stiffness and pain, trouble making decisions, cold hands or feet, salt cravings, dry eyes, back pain, etc., you have symptoms of Mycoplasm infection. Borax kills them without any side effects whatsoever. Prescription drugs almost killed me so I had no choice but to try a natural cure. Look up mycoplasm. Scary shit the government made in a lab as a bio-weapon during cold war.

  11. And, tn—sorry about the multiple questions—I’m dealing with a condition which effects my memory—seriously—so thanks for your patience.

  12. @tnharry

    Thank you for your response. I know what I’m going to do now…wish me luck.

  13. enraged, on June 29, 2012 at 6:46 am said:
    @Carie,
    Also… action speaks louder than words. Action has been lacking on your end. Nothing to teach there.

    You have NO IDEA what my life is and the actions I have taken in my own life and what I have been through on a personal level. So please stop judging me and acting like a know-it-all…it’s getting really old. And yes, I DO believe in justice, and I really don’t care about your opinion of whether I do or not—I know the truth.

  14. I agree Nancy – I’m not seeing anything of substance in the article about these “new” policies. And what do they have to do with MERS?

  15. HOW DOES MERS ISSUE TITLE GUARANTY CERTIFICATES?

  16. I know tnharry and he helps others and understands being cluster-exchanged – do you?

    Without money and lawyers with fuzzy ones – no body gonna win! WHY?

    CONGRESS said this is allowed to be ‘Cluster-Exchanged’ and yes it means what your thinking too. My question why a lawyer who purports to be helping consumers continues to ignore DaTruth and trains lawyers how to tip toe thru the tulips.

  17. @carie – you’ve asked and i’ve answered multiple times. those people should file suit asking to set aside the sale based upon wrongful foreclosure and other variations on the theme. your attempts to overgeneralize this don’t work as each case has its own specific issues that require slight changes. you know what doesn’t work. the short answer here though is just do something. file a complaint. if it requires tweaking, amend the complaint. bankruptcy can be a good place to start as it can take the immediate pressure off and provides a good venue to argue several of the key points. the nonsense about “there were no loans” or “pretender lenders” just doesn’t get off the ground

  18. One thing we can do is fight our foreclosures to the best of our ability. It’s a coin toss in the courts system, because it’s corrupted and compromised, just the way the banks want it. I don’t think anyone can refute the fact that good attorneys are few and far between, and that they are very expensive, and we’re all broke because the corporations that run this country prefer to hire cheap foreign labor rather than us. There are other ways to fight, though.
    Instead of fighting with tnhairy in the forum, spend some time studying the statutes in your state, learning the rules of civil procedure and buy yourself a copy of Jurisdictionary. Make all the fun you want of it, you will still learn things that can prevent you prevent yourself from being mowed down by crooks in court. Things like the fact that lawyers can’t testify, and anything they say is hearsay.
    What it boils down to is that you either have the spirit to challenge what is clearly fraud and theft, or you allow yourself to be intimidated by liars, and then robbed of what is rightfully yours by the same bad actors. This is why the whole foreclosure crisis has gotten so far. We aren’t going to put anybody in jail until we march on our rotten damn government and put an end to this, and that takes balls to be crude. It takes money to travel and money to organize and money to live. Finally taking a stand is where the weakness lies. We scramble on a day to day basis to provide food and shelter for our families because the foe has engineered this life to exhaust and distract us from the reality that they stole everything loose, and now they are taking the things that are nailed down–our homes. Get mad at your thieving government, not tnhairy. They want us to fight amongst ourselves. “Be a good slave and watch Big Brother on TV!” they say. If you want to beat the bank, get rid of the court corruption, and rid yourself of our horrible system of government, you better be able to work with the rest of us. There’s safety in numbers. I’ll be in front of you to take the first bullet, because I’m that determined to get justice. I think you’re willing to work to get America back exactly as you say. So you gotta grow a pair and take them on, and join ranks. I’m done here.

  19. @Carie,

    Also… action speaks louder than words. Action has been lacking on your end. Nothing to teach there.

  20. @Carie,

    Justice for all is a great motive. It simply isn’t yours. Grow up.

  21. @Nancy Drewe

    Thank you for your answer.

  22. Excuse me? My motives? You don’t think justice for all is a good motive? Wow.

  23. @Carie,

    No. I think you are misrepresenting your motives.

  24. That review is more BS. It says you have to say yes you owe the debt. I don’t want to say that.
    Honest? Weird thing to say—why would I not be honest? I just don’t think we should ignore the people who have already had their homes stolen. I guess you don’t agree.

  25. @Carie,

    I’m sorry but i don’t buy it. The best way to help people is to fight, succeed and show them how it’s done. Or to fight, lose and explain why and what not to do. All you can teach at this juncture is something people already know full well: if you don’t fight in court, you don’t have a prayer. That’s what 95% of all the foreclosed people have done so far and that’s why the banks have been so successful at taking away houses. And since you don’t seem to have filed for a review with OCC, you can’t even help anyone with that.

    Are you really being honest…?

  26. @enraged

    Sorry, I’m SO done with coulda woulda shoulda…like I keep saying—we need to know what people—NOT ME EXCLUSIVELY—can possibly do AFTER they were kicked out…These servicers and foreclosure mills NEED TO BE SUED by people who have been kicked out—I know other people who have been foreclosed on, ok? I want to help them if I can…but I’m not a lawyer. I just can’t believe that any lawyers reading this site have absolutely no idea what these people can sue for.

  27. @tnharry

    Trolling? That’s a good one. You still didn’t address what I said…the people who have been foreclosed on—illegally—must have options after the fact as far as lawsuits—why can’t you think of something in that regard? Stop harping on what I did or didn’t do for whatever reason—the point is people need help fighting these ass—-s who stole their homes—just pretend like I’m not involved if that will make you feel better…but do you have any compassion at all for the people who don’t know what hit them? Or who didn’t understand what was happening at the time, but now they do understand and are living in a motel (or a tent) and want some kind of justice? Are they done and over with? You’re a lawyer—I’m sure you could come up with something…if you cared at all about that part of the “story”…If I was a lawyer I would be working my a** off trying to help people with this crap…even the ones who were kicked to the curb before they knew what hit them. These are unprecedented times and situations—we need some courageous lawyers willing to do the right thing.

  28. @Tn,

    With all due respect, it is very difficult to find an attorney in CA. That too is well documented. In fact, Mandelman just posted something written by a CA foreclosure defense attorney who explains exactly what she risks when she steps in to offer her help. Attorneys’ licenses are on the line. You wouldn’t want to deal with it.

    @Carie,

    Fear of danger has never excluded danger. At the very least, BK would have been an option that you flat out refused under all kinds of pretexts, one of them being that you had “better” options. Your problems is that you exercised none of them ion a timely fashion (meaning when it would have been the most effective). Have you at least filed with the OCC to obtain a review? It is free, you don’t sign your rights away and you never know what could come out of it. And even if they turned you down, this is one option you would have exercised. The longer you wait to assert your claim(s) and the less likely you are to prevail. Common sense. You already compromised tremendously your chances the day you left the house without a fight (sending QWRs doesn’t qualify). You’ve been out now a few months and you are still reheating the same old noodles rather than grab the bull by the horn. You need to act… yesterday!

  29. TNHARRY: A PETTIFOGGER WITH A DEGREE IN ENGLISH… OBVIOUSLY GETTING TO YOU… DONE…

  30. very impressive that you both found your caps lock key and failed to respond to anything substantive in that rant. kudos sir indeed.

  31. TNHARRY: YOU’RE IN YOUR OWN SMALL WORLD WITH THE 1500 PEOPLE FROM NEW YORK AND CONNECTICUT. I KNOW WHAT I’M TALKING ABOUT. NOT HERE TO DEBATE , BUT YOU OBVIOUSLY CAN SLEEP AT NIGHT WHICH PROVES YOU HAVE NO SOUL. YOU’RE GOING TO A DIFFERENT PLACE THAN ME!!

  32. @carie- “Obviously, you don’t care about those people.” that’s not true at all. in fact, i and others gave you a good bit of advice and options, despite “not caring about people”. you’ve demonstrated that you aren’t or weren’t willing to follow through, so your comments are a bit of a waste of time and lean as much toward trolling as I’ve often been accused of

  33. @sean park – whatever. i would suggest figuring out what you’re talking about first before commenting like that. carie’s plight is pretty well documented on this site. when you are aware of your claims and/or defenses and allow them to pass you by, whether you couldn’t afford an atty or not, you run the very real risk of losing the opportunity to litigate those issues.

  34. Carrie –

    You have to have evidence of the harms – wrongs.

    The law has to offer a remedy for those specific harms. Then you have to make sure you file as Plaintiff, in accordance with the rules of the court, right venue, statute of limitations, state a claim, etc. The court must have jurisdiction over the subject matter. Very specific. And you can’t be your own expert. Costs a lot of money! Can’t get attoreney’s to go after attorneys or banks for they need to pay their mortgages!

  35. Title Guaranty Division

    The Iowa Legislature created Title Guaranty to provide guarantees of Iowa real property titles, facilitate mortgage lenders’ participation in the secondary market and to help assure the integrity of Iowa’s land-title system. As a division of the Iowa Finance Authority, Title Guaranty is totally self-supporting. All revenue in excess of operation expenses goes toward home ownership programs for first-time homebuyers. Title Guaranty’s profits are re-invested in the state of Iowa.

    Title Guaranty offers Commitments, Certificates, and Endorsements that provide low cost title protection for real estate located in Iowa. Title Guaranty issues coverage based on an abstract and attorney title opinion. Once a participating abstractor prepares an abstract, a participating attorney reviews and then issues a title opinion or Title Guaranty Commitment. All Title Guaranty Commitments, Certificates and Endorsements are issued using the industry standard ALTA forms. For a residential transaction, coverage up to $500,000 is just $110 and an additional $1 per thousand over $500,000. Most common endorsements are offered at no charge. For a non-purchase residential transaction such as a refinance or second mortgage, the premium is just $90 for coverage up to $500,000. As of April 1, 2007, Title Guaranty provides FREE Owner’s Coverage when issued in conjunction with Lender’s Coverage. For more information on rates, click on Forms and Documents. Once the transaction is complete and new mortgage documents are recorded, the abstract is updated. Then, either the participant or Title Guaranty will issue the Certificate.
    Title Guaranty Division

    The Iowa Legislature created Title Guaranty to provide guarantees of Iowa real property titles, facilitate mortgage lenders’ participation in the secondary market and to help assure the integrity of Iowa’s land-title system. As a division of the Iowa Finance Authority, Title Guaranty is totally self-supporting. All revenue in excess of operation expenses goes toward home ownership programs for first-time homebuyers. Title Guaranty’s profits are re-invested in the state of Iowa.

    Title Guaranty offers Commitments, Certificates, and Endorsements that provide low cost title protection for real estate located in Iowa. Title Guaranty issues coverage based on an abstract and attorney title opinion. Once a participating abstractor prepares an abstract, a participating attorney reviews and then issues a title opinion or Title Guaranty Commitment. All Title Guaranty Commitments, Certificates and Endorsements are issued using the industry standard ALTA forms. For a residential transaction, coverage up to $500,000 is just $110 and an additional $1 per thousand over $500,000. Most common endorsements are offered at no charge. For a non-purchase residential transaction such as a refinance or second mortgage, the premium is just $90 for coverage up to $500,000. As of April 1, 2007, Title Guaranty provides FREE Owner’s Coverage when issued in conjunction with Lender’s Coverage. For more information on rates, click on Forms and Documents. Once the transaction is complete and new mortgage documents are recorded, the abstract is updated. Then, either the participant or Title Guaranty will issue the Certificate.

    Iowa Financing Authority (c) 1997-2011

    Many of Title Guaranty’s participating abstractors provide a full range of closing services. Select the County below to identify a participant providing services in that location, or just select the services desired and you will see a list of all abstractors providing those services throughout the state.

    Charles W. Hendricks
    WEST DES MOINES
    (515) 440-1782

    * Des Moines County Abstract
    BURLINGTON
    (319) 754-6233

    Michael L. Gorsline
    DAVENPORT
    (563) 324-0441

    * Indicates maintenance of a title plant

    Innovative Partnership Between Iowa Finance Authority and FHLB Des Moines First in the Country

    November 30, 2011

    DES MOINES – The Iowa Finance Authority and Federal Home Loan Bank of Des Moines today announced a partnership that has made up to $50 million in variable rate index bonds available for low-interest permanent financing to qualified affordable multifamily properties throughout Iowa. This innovative financing partnership is the first of its kind involving a housing finance agency in the country.

    “The Iowa Finance Authority takes great pride in looking for new ways to make and keep affordable housing projects attainable for property owners, as they are a vital partner in fulfilling our mission to provide affordable housing for Iowans,” said Iowa Finance Authority Executive Director Dave Jamison. “We value this innovative partnership with the Federal Home Loan Bank of Des Moines, which is truly a public/private partnership that works and allows us to offer yet another option for affordable financing, $11.5 million of which has already been used to refinance two affordable housing projects, which will ultimately help to sustain affordable housing for hundreds of Iowans for many years to come.”

    FHLB Des Moines provides member financial institutions and state housing finance agencies with funding and liquidity to support housing finance and community development. “FHLB Des Moines partnership with Iowa Finance Authority supports the creation of new properties or the enhancement of existing ones, all while keeping them affordable for Iowa families,” said Mike Wilson, chief business office and executive vice president, FHLB Des Moines. “The Bank is committed to finding innovative ways to make resources available to support families and communities and effectively maximize the number of affordable housing units across our district.”

    The index bonds offered through this partnership provides the Iowa Finance Authority with a competitive, long- term funding source without the risks associated with traditional variable rate demand obligations because costs are lower and there are no liquidity or remarketing counterparties involved. Index bonds in other municipal sectors typically have maturities of three to five years; these bonds can be issued up to 30 years which aligns well with the financing terms of many affordable multifamily projects. The interest rate floats at a spread over one month LIBOR and is hedged with an interest rate cap or fixed rate swap. Moody’s Investor Service has rated the program Aa3.

    For More Information:

    Megan Feld
    FHLB Des Moines
    515.281.1159
    mfeld@fhlbdm,com

    Ashley Jared
    Iowa Finance Authority
    515.725.4934
    ashley.jared@iowa.gov

  36. tnharry: go to h..e… double hockey sticks….You have NO SOUL!!

  37. @tnharry

    I already told you I couldn’t find a good lawyer in time.
    There has to be options for people already (illegally) kicked out of their homes.
    I am trying to find out lawsuit options for EVERYONE “post foreclosure”, not just me.
    Obviously, you don’t care about those people.

  38. @carie – why do you ask the same question everyday lately? you claim to have had all this evidence that they couldn’t legally foreclose, but you sat by and let them do it. you have some serious issues of waiver and estoppel now. old legal maxim comes to mind : “equity protects those who protect themselves” and “equity aids the vigilant, not those who sit on their rights.”

  39. Nancy Drewe, on June 28, 2012 at 8:56 am said:
    …wake up – real estate is not securitized. Mortgage Investment and Deed of Trust Investements are agreements not loans that collateral will be held by a third party. Collateral acceptable to FED. FEE SIMPLE….
    Nancy Drewe, on June 28, 2012 at 8:53 am said:
    Wake Up! Money goes to Servicer

    Question @ Nancy (please don’t bite my head off):

    How do we sue after the fact? I mean, I have tons of stuff in writing from the servicer/debt collector and the foreclosure mill/debt collector—signed by them—with all kinds of blatant lies—which they based the foreclosure on…With all the information we know about the truth of what went on—how do we sue after the fact? I know, I know—“get an attorney”…but the ones I have talked to so far are clueless…

  40. Why isn’t Wikileaks publishing banks e-mails…? That would probably sway a lot of people in favor of the victims.

  41. @ Enraged, I sure hope to see some attorneys with some guts to step up and go after other attorneys. Especially those hired to represent the buyers at closing and those who took advantage of homeowners that were trying to do the right thing in the intrest of all involved like you.

  42. “MERS’ Owners Offer Bogus Title Certification.” Can we have their names? So far, MERS is ONLY a computer program./ Ever found out who “owns” the damn thing?

    “ATTORNEYS SOULD BE ALERT FOR THIS IS A DEFINITE AREA OF POTENTIAL MALPRACTICE THAT IS MOST CERTAINLY GOING TO HIT OUR SHORES.” And not a minute too soon either. I, for one, was screwed by 2 attorneys to the tune of $6,000. The first one was for my Chapter 13. The plan was never approved… because the attorney did nothing. I burshed it off on the account of “experience”. $2,500 lost. Life goes on.

    The second one was for a mod. I hired that firm in September. They did nothing and… right before Christmas, i got a letter (as did all the clients) stating that, due to their expenses which had skyrocketed, they had to close shop. I never saw my $3,500 back. I complained to everything and everyone: Bar Assoc., AG, BBB, you name it. I got one letter and one phone call in return. Since then (that was 2 years ago), not a word. The AG has been replaced, the Bar did nothing. Out of $6,000. Again, expensive lesson I could have done without.

    What goes around comes around. They will get theirs, one way or the other. All I’m waiting for is to see attorneys suing attorneys. Sharks going for the kill among themselves. it will happen. And then, drastics measures will be implemented to remove attorneys from politics, corporations, government and pretty much society as a whole. Just a question of time.

  43. But Neil,… they have been doing this on the refinances for awhile. They Offer unsuspecting homeowners a no cost refi with a lower rate just to get that new title policy and liability waivers for the new lender. These homeowners do not have a clue they signed up for a lawsuit. You betcha the second party behind the curtain will be insolvent before the mass lawsuits hit.

  44. so if we count of the frauds= libor fraud, origination fraud, appraisal fraud, securitization fraud, servicing fraud, foreclosure fraud, notary fraud, document fraud, hamp fraud, title fraud….what else? I know I missed a few and it is the BORROWERS who are deadbeats who MISLED them?

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