Corrupt Mortgage Lender Servicing Sonnet:How Can I Screw Thee? Let Me Count The Ways

Just when you thought you'd heard it all you hear more disturbing news about high crimes and misdemeanors in the mortgage industry. I added a link to Mortgage Servicing Fraud, a web site devoted to the crimes that are committed when a lender or lender's servicer manipulates performing loans to falsely indicate a default by:

• Entering on-time payments as late, to exact illegal and unauthorized fees.
• Charging force-placed insurance when the homeowner already has full coverage.
• Falsely reporting a default to the credit bureaus when it is the servicer creating the default.
• Paying property taxes late, then charging the late penalties to the borrower.
• Paying taxes and insurance on the wrong property.
• Refusing payments to guarantee default.
• Adding thousands of dollars in unearned legal fees to create a default.
• Ignoring customer complaints and "qualified written requests".
• Arrogantly violating numerous laws and regulations.
• Coercing the homeowner into signing a forbearance agreement to strip away their legal rights.
• Falsifying records.
• Commit fraud upon the courts by stating they are the holder and owner of the Note - when in fact - they do not even own the Note.
• Intentionally cause delays to run up your legal expenses.
• Forgery.
• Apply to the trust for reimbursement after deducting the fees from the borrowers p&i payments. (Known as double dipping.)
• Rounding up ARM rates when on a downward trend.
• Not adhering to the terms of the loan documents.
• Creating additional false deficiencies through a variety of questionable practices.
• Adding miscellaneous fees to purposely create a deficiency with the borrower's next payment.
• Not applying payments to principal and interest.
• Committing perjury through flagrant misrepresentations to the courts.
• Withholding or redacting discovery evidence.
• Conjuring up events that never happened and refusing to provide documentation to support these fallacies.
• Refusing to cooperate with other lender's attempts to refinance and stop the illegal foreclosure.

Comments

[Dukes Up]

How about the mortgage company blatantly not paying the hazard insurance and when a fire made my house inhabitable-- the mortgage company did NOTHING! Later offered an amount of money that would not repair the damage. Later hired a high power attorney--spending more on the attorney's fees than the value of the home! I am seeking similar cases.

[John]

In these days of sub-prime loans and the housing market in such a downturn, many people are in danger of losing their homes. Many lenders issued adjustable loans that re-adjust periodically and many people may not have been aware of how much their payments could go up. Some of these people may now be in danger of foreclosure if they're unable to keep up with the payment increases.
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