Using Securitization Audits As An Effective Tool For Foreclosure Defense

By now, most homeowners in foreclosure proceedings were suddenly realizing that most loans originated in between 2000 and 2010 were securitized without the borrower’s knowledge. This means the lenders pooled the mortgage with thousands of others and sold these pooled loans to investors immediately or very shortly after loan origination. They were paid in full but retained loan “servicing”, the day to day loan administration operations, for which they now received between $25 and $45 per year for each $1,000 of loan value. This may have been on top of a profit in the sale. On a $400,000 loan the servicer’s financial interest is now only $10,000, not the $400,000 they are trying to foreclose on.

What’s more, in the process of investors purchasing the loan, the originating lender had to guarantee that all transfers were as laid out in pooling and servicing agreements which are on file with…

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BOA workers were ‘told to lie’ to its customers about mortgage modification program

What’s your take on this situation?

The Secular Jurist

Ex-Bank of America mortgage workers were 'told to lie'

Former Bank of America employees say in court documents that the bank routinely lies to customers about their mortgages, and denies their requests for modifications without even looking at the paperwork.

In sworn affidavits, four former employees, for example, describe policies in place at the bank that they say are designed to subvert the Home Affordable Modification Program (HAMP), 2009 government-sponsored initiative that was designed to keep distressed homeowners above water during the depths of the housing crisis.

The affidavits are part of multiple court cases against the bank brought by homeowners who say they were unfairly foreclosed upon. One case is underway in the U.S. District Court of Massachusetts, before Judge Rya W. Zobel. A movement is underway to unite the cases under a single class-action lawsuit.

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Avoiding Travel Scams

Hi Friends..
Please be aware while enjoying your vacations.. Folks are watching for the “touristy” type.
Offers such as taxi drivers taking you to the better areas to shop for discounted excursions, discounted jewelers, timeshare purchases.

Discover the World with Arrangements Abroad

A recent New York Observer column shows that even a savvy traveler can fall prey to a clever travel scam. While in Beijing, writer Charlie Schroeder meets a friendly woman who wants to practice her English. Eventually, she suggests going to a tea shop. To Charlie’s shock, the bill, which the woman is willing to split, is hundreds of dollars.

Taxi cabThe so-called “Beijing tea shop scam” is one of several tourist scams that are common in China’s capital. Similar cons involve art galleries and karaoke bars. Other rip-offs to watch out for in Beijing include a “fake” Great Wall trip and unlicensed tour guides.  (Check out a full list at:

Of course, travel scams aren’t limited to China. Lonely Planet and The Economic Times have published lists of tricks that are seen around the world. These range from taxi drivers taking tourists to stores offering “deals” on items such…

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Hi friends…
Digital media is the key to an old fashioned fraud scheme…Remember when cash ruled? Maybe we need to revisit paying for cash..At the pump your gas is usually 10 cents cheaper..!

Consumer Blog

Card frauds are on the rise. Find out how to keep your plastic money safe and what to do if you are a victim of identity theft.

Who is your greatest financial foe? The corrupt agent, the con artist or a complacent you? Surprised to see yourself in the list? Don’t be. The truth is that sometimes our own ignorance or negligence leaves a door ajar to our financial lives, an opportunity that a hacker or fraudster is lying in wait to get through to raid us. One of the most susceptible instruments is credit cards and the way we use them.

We flaunt them in the open, swipe them on sundry shopping portals and post personal details as status messages on social networks. If you’re wearing a sceptical expression after reading the last one, wipe it away. Hackers can use personal data to impersonate you at a bank or…

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‘Grandparent scam’ continues to bilk savings of seniors across Canada and U.S.

Hi Friends! People have no shame!
Fraudsters pretending they are the grandchildren duping seniors out of their money!!

The scam begins innocently enough. “Hi, grandma,” the voice on the other end might say.

Those who fall for it could be out hundreds, if not thousands, of dollars within hours.

Though the “grandparent scam” has been around for years, seniors continue to get duped into sending money to people purporting to be their grandchildren in dire straits. It’s prompted a slew of warnings in recent months from Canadian police.

American officials have gone so far as to single out Quebec as a major source of the phone scams, warning people on a U.S. government website to be wary of calls coming from the province.

Just this week, a Montreal man pleaded guilty in Los Angeles to his involvement in a Quebec-based “boiler room” operation that prosecutors say victimized more than 250 people in Southern California and netted as much as a million dollars.

“They’re nasty, ruthless people,” said Daniel Williams…

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Inmates, Dead On Welfare

This is why it is vital that government agencies share information and have the platforms to do so.
How are inmates and the deceased capitalizing on welfare systems in NJ and Mass?! In May, I attended a government fraud conference in VA and this was one point of one speaker… the lack and reluctance of data sharing among government agencies…It cannot be THAT much “red tape!”

Call Me Stormy

Separate audits in Massachusetts and New Jersey show prisoners and people reported dead on the welfare rolls.

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