Right in Front of Our Eyes: Black Knight and U.S. Bank

Anyone who knows about foreclosure litigation and securitization of residential debt knows that the only way the banks could succeed is if they had a central repository and central command center from which all documents were fabricated and all instructions were issued.

For nearly all loans the central command was Lender Processing Systems, aided by DOCX. While DOCX is technically defunct and Loraine Brown went to jail taking one for the team, the functions of LPS remained the same.

LPS  changed its name to Black Knight and in a PR coup transformed itself into the publisher of what is largely viewed as comprehensive data on mortgage lending and foreclosures.

Hence it went from the purveyor of false, fraudulent, forged documentation to the purveyor of data perceived as reliable and thence became a trusted source whose data is considered worthy of legal presumptions.

Systems at LPS/Black Knight include data processing on virtually all residential loans subject to claims of securitization many of which are represented by data on the MERS  Platform which is a workaround to hide separate split transfers of the debt, the note and the mortgage or deed of trust.

The systems on LPS/Black Knight are designed for the the express purpose of presenting consistent data in foreclosure claims. As such it also enables the rotation of apparent servicers, none of whom perform bookkeeping functions even if some of them interact with borrowers as if they were actually the servicers.

The rotation of servicers comes with the false representation and illusion of boarding in which the process is falsely represented as meaning that the new servicer inspected, audited, reviewed and input the data into their own system. None of that occurred. Instead the new servicer merely gained access to the same LPS system as the last servicer with a new login and password.

All evidence shows that the functions for fabricated, forging and robosigning documents continue to be performed under the direction of LPS/Black Knight which receives all instructions from various investment banks who have each started their own securitization scheme masking apparent trades in the secondary market for loans and trades in the shadow banking market where “private contracts” are regularly traded without any securities regulation.

Far from dropping their connection with LPS/DOCX the major banks have completely embraced this central repository of all loan data, all of which is subject to manual and algorithmic manipulation to suit the needs of the banks; thus they produce a report that creates the illusion of credibility, reliability and even independence even though none of those things are true.

So now U.S. Bank is further embracing LPS/Black Knight technology in the form of “Empower” for loan originations. U.S. bank is of course the major player whose name is used in foreclosures despite the fact that it has no interest in the loans and does not receive one cent from foreclosure sales of property. It merely receives a royalty for the use of its name as part of a fictitious name of a nonexistent trust which is falsely represented to have engaged in a transaction in which the trust acquired the debt, note and mortgage on multiple loans.

This deal furthers the PR myth. It strengthens Black Knight as having the attributes of a legitimate player when in fact it is a central figure in the greatest economic crime in human history.

see https://www.prnewswire.com/news-releases/us-bank-expands-relationship-with-black-knight-to-correspondent-and-hfa-lending-channels-on-empower-loan-origination-system-300859760.html

US Bank will implement the Empower LOS to manage loans purchased via its correspondent and HFA lending channels. The bank already uses Black Knight’s MSP servicing solution which integrates with the LOS; and its artificial intelligent virtual assistant AIVA.

“Aligning with Black Knight’s Empower for our Correspondent and HFA business serves our forward-looking vision of providing innovative capabilities that advance the lending process and provide a better client experience,” said Tom Wind, executive vice president, US Bank. “Expanding our enterprise relationship with Black Knight allows us to enhance our digital capabilities and customer experience throughout the entire homeownership cycle.”


8 Responses

  1. Has anyone heard of Meridian Asset Services in St Petersburg, FL?

  2. the only way the banks could succeed because they have judges on their payroll

  3. Servicer Expense Reimbursement – Fannie Mae
    Sep 26, 2018 – LoanSphere Invoicing™ (formerly Black Knight Invoice Management tool) allows Fannie Mae servicers to submit qualified expenses associated with Fannie Mae loans for reimbursement.

    Reproducing Fannie Mae Legal Documents
    Users may reproduce any of the mortgage documents under the user’s company name or logo (or without an identifying company name or logo), but the text should NOT be altered

    All of the security instruments, notes, riders & addenda, and special-purpose documents that should be used in connection with regularly amortizing one- to four-family conventional first mortgages that are sold to Fannie Mae are available for viewing, printing, or downloading in Microsoft® Word format.

    The mortgage documents that Fannie Mae makes available through the Web fall into one of the categories: security instruments, notes, riders & addenda, and special purpose.

    Instruments on this Page
    Notes for regularly amortizing mortgages include the Fannie Mae/Freddie Mac Uniform Fixed-Rate Notes and the Fannie Mae/Freddie Mac Uniform Adjustable-Rate Notes and other notes that Fannie Mae has developed for:

    specific ARM plans (including those for Texas Section 50(a)(6) mortgages),
    biweekly payment mortgages,
    growing-equity mortgages.
    This page provides downloadable copies of standard and negotiated instruments, provided in separate tables, including:

    Fannie Mae/Freddie Mac Uniform Instruments Fannie Mae Uniform Instruments (marked with an *)
    Standard Instruments (Summary —— English —— Spanish)
    Standard Fixed-Rate Notes .doc .pdf .doc .pdf
    Multistate Fixed-Rate Note Summary 3200 3200 3200S
    Alaska Fixed-Rate Note Summary 3202 3202 3202S
    Florida Fixed-Rate Note Summary 3210 3210 3210

    The CFPB, for example, said in its lawsuit against Ocwen that in 2014, the company’s head of servicing allegedly described REALServicing as “ridiculous” and a “train wreck.”

    The CFPB alleged that Ocwen’s system was riddled with inaccurate and incomplete information, and even when data was accurate, the system generated errors due to system failures and deficient programming.

    Now, Ocwen is moving away from REALServicing and moving to Black Knight’s LoanSphere MSP servicing system (formerly LPS & the same system used by Fannie Mae).

    The CFPB, for example, said in its lawsuit against Ocwen that in 2014, the company’s head of servicing allegedly described REALServicing as “ridiculous” and a “train wreck.”

    The CFPB alleged that Ocwen’s system was riddled with inaccurate and incomplete information, and even when data was accurate, the system generated errors due to system failures and deficient programming.

    JPMorgan Chase picks Black Knight to power its home equity …
    Apr 4, 2018 – Black Knight

    Lorraine Brown / LPS / Docx (criminally convicted) became Black Knight LoanSphere. OCWEN’s in house servicing failed so Black Knight’s LoanSphere ‘offered to help Ocwen out.’
    Fannie appoints local ‘Plaintiff’s / Mill’s’ local law firms from its “select” list. = Fannie Mae openly names Black Knight’s and its LoanSphere as the system it uses in its handbook. Fannie & Freddie are remain under U.S.Treasury Conservatorship.

    Looks like it’s our own US Treasury foreclosing on us behind the mask of some ‘bank trust’ held out to be ‘Real Party with right to foreclose’ into which huge #s of loans never made entry? (SDNY Judges Cote, Sheindlin, Friedman “Putbacks”)

    March 5, 2017 – Gary Dubin
    Foreclosure Workshop #28:

    Bank of America v. Reyes-Toledo — An Important Starting Point for Exposing

    “The Great Deception” Hiding Who Is Really Foreclosing on American Homeowners

  4. Means little if Argued as a foreclosure defense. Of course the foreclosures fictitious question is why. Of course the timing scheme is essential you still haven’t answered why you’re not properly characterizing the transactions once again are jumping around with old press releases you’re failing to link the smoking gun. This whole system the instrumentalities devices artifices scheme the platform….was designed for a purpose specific purpose with US Bank and I Bank of New York and Deutsche Bank involved what was that purpose.

  5. Javagold- I would request in writing an explanation of what their numbers represent, prior to reverting to BOA s numbers. And keep asking them, in writing, working your question a little differently each time you write.
    You never know who is going to answer your letter each time and what they will say, but it’s always worth a try.

  6. […] Source: Right in Front of Our Eyes: Black Knight and U.S. Bank […]

  7. I need to find out and understand how Specialized Loan Servicing who became my Debt collector servicer after assignment of mortgage from BOA NA (even though It was originally BAC Home Loans.)

    So if the above article is correct. How did SLS get completely different monthly balances when account transferred to them. For 6 months. June – December. They sent a lower balance (and correct). Then magically. They sent a statement in January with the June-December monthly figures post dated back to the BOA higher monthly (and wrong balance). And pretend they didn’t just send 6 Monthly statements with totally different figures. And now are trying to fraudclose with the higher/incorrect figures.

  8. Right on!! Neil.

    In effect, all servicers have relied upon the input of LPS/Black Knight’s system. And, servicers cannot fix that — even if they wanted to.

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