Foreclosure Audit Reveals Pervasive Fraud

Posted by revolt | Foreclosure Audit Reveals Pervasive Fraud | Friday 24 February 2012 11:28 am

Foreclosure Audit Reveals Pervasive Fraud

02/23/2012 5:01 pm

The new $26 billion mortgage settlement agreement between state attorneys general and major banks will help make restitution to millions of homeowners defrauded and damaged by lenders. But justice requires more than compensating the past victims — we must protect Californians from future abuse, improve laws regulating foreclosure and ensure they are enforced.

While we all knew the problems in our housing markets were severe — just how severe had never been thoroughly quantified until my office in San Francisco released the results last week of an independent audit of nearly 400 foreclosures over the past three years.

The audit findings show that irregularities are not just frequent — they are pervasive.

Like just about everyone else involved in this issue, I knew there were widespread problems. But the independent audit commissioned by my office showed fully 84 percent of the foreclosure files contained at least one clear legal violation and more than 66 percent of the files contained multiple violations. Nearly 60 percent of documents were backdated in some fashion, which is significant in an environment in which documents are filed under penalty of perjury. As far as we know, this is the first comprehensive audit of foreclosure files.

Why does this matter so much? First of all, the widespread fraud in mortgage lending and documentation that led to the epidemic in foreclosures was abetted by lax legal and regulatory standards that failed to spot, stop and prevent abuse.

Here in California these lax standards are particularly damaging because lenders (and the subsequent mortgage holders who frequently acquire loans) do not need to seek a court order to force a foreclosure. With little direct court oversight, we must rely on the administrative procedures and state regulations to protect owners from fraud.

This matters because families facing foreclosures are entitled to know exactly who holds their loan and to see for certain that the foreclosure is justified. In one case, our audit showed a foreclosure initiated by a party that had no title to the property — and in a number of other cases, we found two competing claims to the title.

This new data matters to all of us because the wave of foreclosures that broke over California affected every single Californian, not just those losing their homes. The massive loss of housing value meant we lost billions in tax revenues needed to fund our schools, protect our communities and invest in our future. And the administrative and recovery costs alone are staggering — with some estimates showing that each foreclosure costs local cities up to $20,000 for each home.

And finally it matters because transparency matters. The state constitution created assessor-recorder offices like mine in every county because economic security and basic justice were advanced by creating clear and transparent property records.

Moving forward, it is clear that our laws and regulations need to be adapted to the new era in which mortgages are rapidly resold, split up and “securitized” to the point where it is actually hard to know who owns a home.

The attorneys general, led by our own Attorney General Kamala Harris, were the first to acknowledge that their hard-won settlement was only the first step in addressing the problem.

Criminal prosecutions are still a possibility. But legislative reforms are clearly required. As we take a look at these reforms, we now have hard data showing exactly how widespread the problem has become. This is not just some loans, or many loans. Our findings show the problem of fraud, muddled title or irregularities has spread in fact to nearly all loans.

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Bank Mortgage Fraud Settlement – The Deal Is Not Done, So Hold the Applause

Posted by revolt | Bank Mortgage Fraud Settlement - The Deal Is Not Done, So Hold the Applause | Sunday 12 February 2012 2:30 pm

Bank Mortgage Fraud Settlement – The Deal Is Not Done, So Hold the Applause

By GRETCHEN MORGENSON

Published: February 11, 2012

FIVE big banks finally reached a deal with government authorities last week over dubious mortgage practices and foreclosure abuses.

After months of talks, Ally Financial, Bank of America, Citibank, JPMorgan Chase and Wells Fargo agreed to pay a total of $5 billion in cash to try to remedy this fiasco. They will also help homeowners who are underwater on their mortgages by reducing the principal on their loans by a combined $17 billion over the next three years.

Borrowers who qualify will get $3 billion in refinancing arrangements. Those who were improperly foreclosed on will get a combined $1.5 billion. That probably nets out to less than $2,000 a person.

The banks crowed that this settlement would help the economy and the reputation of the mortgage industry. Michael J. Heid, president of Wells Fargo Home Mortgage, characterized the deal as “a very important step toward restoring confidence in mortgage servicing and stability in the housing market.”

But it’s hard to imagine that this one settlement will be enough to restore trust in loan servicers. Given what we know about their questionable practices — how they larded improper fees on struggling homeowners, for example, and forced people to buy home insurance at three times market rates — restoring confidence in these firms will take some doing.

There’s no doubt that the banks are happy with this deal. You would be, too, if your bill for lying to courts and end-running the law came to less than $2,000 per loan file.

As for the supposed benefits to the economy, skeptics abound. One of them is Paul Diggle, property economist at Capital Economics in London. In a report last week, he rejected the notion — espoused by both banks and government authorities — that this deal would help turn around the American housing market.

For most homeowners, it will barely move the needle. Forgiving $17 billion in principal “is a drop in the ocean,” Mr. Diggle said, “given that close to 11 million borrowers are underwater on their loans to the tune of $700 billion in total.” Doing the math, $17 billion in write-downs would be about 2.4 percent of the total negative equity weighing down borrowers across the nation now.

Yves Smith, the perspicacious founder of the Naked Capitalism Web site, was especially critical. In a post, “The Top 12 Reasons Why You Should Hate the Mortgage Settlement,” she wrote that this deal was a stealth bailout of the major banks.

Why? It will improve the value of the second liens or home equity lines of credit they own. These vast holdings — roughly $400 billion — are worthless if the first mortgages preceding them are underwater. But if the banks don’t write down the second liens alongside the first mortgages, the seconds become more valuable. A lower principal balance on the first mortgage makes the second more likely to pay.

But perhaps the largest question looming over this settlement is how it will be policed. Recent history is littered with agreements that required banks to take specific steps to make amends. All too often, the banks have skated away from their promises.

A prime example is a settlement over predatory lending that was reached by Countrywide Financial in 2008. Led by attorneys general in California and Illinois, that deal had Countrywide vowing to provide $8.4 billion in loan relief to borrowers in the form of lower interest rates and loan modifications.

It sounded good on paper. But Bank of America, Countrywide’s parent, defied many aspects of the settlement, according to Catherine Cortez Masto, Nevada’s attorney general. She sued Bank of America last summer, contending that it had raised interest rates on loan modifications even though Countrywide had promised to lower them.

Bank of America also declined to provide loan modifications to qualified homeowners as required in the deal and improperly proceeded with foreclosures while borrowers’ modification requests were pending, Ms. Masto’s suit said. Furthermore, the bank failed to meet the settlement’s 60-day requirement on granting new loan terms, allowing months — and in some cases, more than a year — to go by with no resolution, the lawsuit said.

Bank of America has disputed the allegations.

Other borrower programs also seemed promising until bank resistance stymied them. Consider the Foreclosure Mediation Program in Nevada, set up in 2009 to help resolve the mountain of delinquent and troubled loans in that state.

Under the program, banks must mediate with borrowers who request such help. But two years of statistics, through last September, show 5,771 cases where mediators found that banks had failed to participate in good faith or were not complying with other aspects of the mediation law. That is equivalent to 42 percent of all the mediations completed in the program.

Perhaps more troubling, the percentage of mediations where lenders have failed to comply has risen in the most recent six months of data.

“It’s astounding that in such a huge percentage of cases the lenders are not complying,” said Philip A. Olsen, a former Nevada Supreme Court settlement conference judge. “The banks have learned that they can thumb their noses at the program and it won’t cost them anything.”

So you have to wonder whether banks will thumb their noses at last week’s settlement, too. That makes policing compliance crucial.

That task falls to Joseph A. Smith Jr., the banking commissioner for North Carolina since 2002. Not only must he oversee the monetary relief programs in the settlement, he must also enforce extensive changes to loan-servicing practices that the deal entails.

I had hoped to ask Mr. Smith how he planned to monitor the expansive and arcane terms of the settlement and what size of army he would be deploying to ensure that the banks fulfilled their promises. But he was not available on Friday to answer my questions.

An administration official, speaking on condition of anonymity because he was not authorized to discuss the deal, said that Mr. Smith would hire accountants and consulting firms to audit the banks’ performance and that as monitor, he would be able to interview bank employees. If the monitor finds that a bank has failed to meet its commitment, he can impose penalties of up to $5 million, depending on the errors’ seriousness or frequency.

Additional details will emerge. But this kind of minutiae will determine whether the settlement succeeds. So many borrower programs have failed since the foreclosure crisis began. Another nonstarter will only add to the mistrust that many people harbor toward those large institutions, both public and private, that contributed so mightily to this mess.

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The Attorney General Settlement is a Sellout…

Posted by revolt | The Attorney General Settlement is a Sellout… | Saturday 11 February 2012 11:58 pm

The Attorney General Settlement is a Sellout…

February 11th, 2012 | Author: Matthew D. Weidner, Esq.

From Naked Capitalizm:

You know it’s bad when banks are the most truthful guys in the room.

Remember that historical mortgage settlement deal that was the lead news story on Thursday? It has been widely depicted as a done deal. The various AGs who had been holdouts said their concerns had been satisfied.

But in fact, Bank of America’s press release said that the deal was “agreements in principle” as opposed to a final agreement. The Charlotte bank had to be more precise than politicians because it is subject to SEC regulations about the accuracy of its disclosures. And if you read the template for the AG press release carefully, you can see how it finesses where the pact stands. And today, American Banker confirmed that the settlement pact is far from done, and the details will be kept from the public as long as possible, until it is filed in Federal court (because it includes injunctive relief, a judge must bless the agreement).

This may not sound all that important to laypeople, but most negotiators and attorneys will react viscerally to how negligent the behavior of the AGs has been. The most common reaction among lawyers I know who been with white shoe firms (including former partners) is “shocking”. Let me explain why.

Yves More Here

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SCHNEIDERMAN’S MORTGAGE FRAUD TASK FORCE—PLUS A PRIMER ON MORTGAGE FRAUD

Posted by revolt | SCHNEIDERMAN'S MORTGAGE FRAUD TASK FORCE—PLUS A PRIMER ON MORTGAGE FRAUD | Saturday 11 February 2012 11:17 pm

SCHNEIDERMAN’S MORTGAGE FRAUD TASK FORCE—PLUS A PRIMER ON MORTGAGE FRAUD

By Gaius Publiuson  1/31/2012  9:15 AM

Matt Taibbi has a very nice piece on Obama’s brave new populism: “Is Obama’s ‘Economic Populism’ for Real?“.

The title is itself a topic, and I’ll leave that for later. Further in the article Taibbi also discusses New York AG Eric Schneiderman and the bank fraud task force proposed by Obama in his State of the Union address.

The Schneiderman appointment raised a lot of questions. Is he selling out? Is he putting himself in better position to push his prosecutions? Is he being “ring-fenced” by a wily Obama? Will the fact that he’s only co-chair dilute his effectiveness?

Most of these questions still aren’t settled, but Taibbi does make some things clear (my emphasis throughout):

Some people have been confused about Schneiderman’s new role. The new Unit on Mortgage Origination and Securitization Abuses will not be investigating the same abuses covered in the foreclosure settlement. When the public thinks about corruption in the housing markets on the part of the big banks, what it mostly thinks of is robosigning and the other mass-perjury issues, which is the stuff targeted in the foreclosure settlement.

But in fact those problems were a tawdry little sideshow to the more serious crimes of the housing crisis.

Taibbi then quotes Schneiderman himself on this difference:

Schneiderman said Wednesday his dual roles — raising concerns about a multi-state settlement with the major banks and investigating the mortgage problem — wouldn’t be at odds.

“These are abuses in the foreclosure process. Our working group is focusing on the conduct related to the pooling and the creation of mortgage-backed securities and issues relating to the conduct that created the crash, not the abuses that happened after the crash.”

Keep in mind the mortgage business, as it evolved during the housing bubble, had two ends and a middle. Fraud related to the mortgage market crash occurred at each end.

The two ends are — (1) The consumer end. Home-buyers contracted with banks and mortgage sellers like Countrywide for loans. These are debt contracts. (2) The banking end. Banks sold “securities” using bundles of mortgages as the underlying “thing of value” to its largest (and often, most gullible) customers. There’s fraud at both ends.

(The middlemen were the people buying mortgages from people like Countrywide, creating the bundles (the so-called “RBMSs”), then selling them wholesale to the banks — for a very fine fee of course. Those guys are SOL these days — that business is dead — but to my knowledge they’re not being investigated for fraud.)

In simple terms, here’s what happened. It actually started at the banks-selling-to-customers end, with what a brilliant This American Life documentary calls “The Global Pool of Money“. (If you’ve never heard this documentary and its two follow-ups, you should. They are masterpieces of clarity and research.)

The “Global Pool of Money” means all of the big-boy investment money in the world — the sovereign wealth funds, pension funds, massive investment trusts, hedge funds, bank investment funds, the whole lot — all sloshing around looking for a place to park itself at a profit. After the high-tech crash, much of that investment money (a great many trillions) just sat, going nowhere, earning almost nothing.

As you can imagine, the advisers and directors of these investment funds are not strangers to each other. Far from it — they golf together; they ride in each other’s jets; they date each other’s wives; they hire politicians to strew roses in each other’s footpaths. They use the same tailors, bribe the same corrupt officials, hire the same chauffeurs, and tell each other tall tales behind walls of houses in communities you’re not even allowed to know the names of.

It doesn’t take much for word to get around in this small group. One day, they discovered “securities” backed by RBMSs (mortgage bundles) — all paying tons of money in a nicely booming housing market — and the race was on. All those trillions of dollars suddenly could not buy enough slices of RBMS-backed securities as sold by the banks.

(Who was the first little bird that whispered the first little news into the first global shell-like ear? Likely a man named Greg Lippmann, a senior trader at DeutscheBank; see below.)

The Global Pool became immediately hungry for this stuff, which created a serious problem for the banks. What kind of problem? Imagine you have a hotdog stand, you buy 1000 hotdogs a day, and mostly sell out. One day, one million people line up in front of you looking for a hotdog. Needless to say, you try your best not to disappoint.

In the case of the banks, they “failed to disappoint” by telling the small-time shops (the middlemen who were creating the RBMSs for them) — “Can you speed it up? Like, Now?” The RBMS shops, who were taking a very sweet slice of the pass-through business, said, “No prob.” They in turn went to mortgage lenders like Countrywide, creators of the mortgages themselves, and said, “Big prob — the Global Pool is hungry, and the banks want more mortgages than exist in the world right now.”

Countrywide smiled and said, “Got you covered.” Then they (not Fanny and Freddie) put anyone with a pulse into a mortgage, sold the paper to the RBMS shops, who rebirthed them into “securities” and sold them to the banks, who in their turn, bundled, tranched and sold the result to the real customer — the Global Pool of Money.

The whole thing was made of tulip bulbs, but prices kept going up, the sales and pass-through fees were huge (seriously; that’s where much of the money always is), and there was an enormous side business “insuring” these monstrosities, which meant even more fees. Global “wall street” was swimming in cash and bonuses; the Global Pool thought it had found pieces of old King Midas, all by itself.

How good were the mortgages really? A great many weren’t even recorded, and a great many people were lied to in the process of getting them sold. That’s the consumer-side scandal (under the umbrella terms “robosigning” and “foreclosure”) that the AG settlement duel is about. NY AG Schneiderman is a major thorn in the side of that wrist-slap attempt (pushed by the banks, and ultimately, the Obama administration).

Now ask yourself — How good could those “securities” be, which were sold into the frenzied maw of the Global Pool of Money? Only as good as the mortgages themselves. That gigantic hunger, and the underlying shakiness of those RBMS-backed “securities,” is what the 2008 crash was all about.

Investors woke up when the housing market finally turned down, a possibility no one in that world thought ever would happen. (Proof that rich doesn’t mean smart, I guess.) At that point smart investors realized the bankers (and the ratings agencies) had lied.

In the new declining housing market, most of that “AAA-rated” stuff turned out to be worth far less than the banks had said they were. The Global Pool of Money lost its global shirt, the people insuring the Global Pool lost their shirts as well (that’s the AIGs of the world, plus some banks and hedge funds); and everyone who held these things in their portfolio — including lots of banks — were stuck with investments no one wanted to value because no one wanted to know how low the number was.

The party was over, and everyone who bought this stuff knew they were up a creek.

How much fraud was involved at the banking end? It looks like a lot. And that’s what Obama’s shiny new task force, if it performs true to its purpose, will go after.

That’s the big enchilada. How big? Back to Taibbi:

My first thought, when I heard about this deal, was that Schneiderman was deciding to compromise on robosigning and other post-securitization abuses, in exchange for a mandate to go after the much bigger crimes, which took place in the origination/securitization stages.

The securitization offenses were massive criminal conspiracies, identically undertaken by all of the big banks, to defraud investors in mortgage-backed securities. If you’re looking for an appropriate target for a massive federal investigation, one that would get right to the heart of the corruption of the crisis era… well, they picked the right target here.

If they were to do a real clean sweep on securitization, the federal prisons would end up literally teeming with senior executives from the biggest banks. A lot of very big names would end up playing ping-pong and cards in Otisville and Englewood.

The question is, how real of an investigation will we get? The fact that Schneiderman’s co-chairs are Lanny Breuer and Robert Khuzami make me extremely skeptical. I’m actually not sure that both men, in an ideal world, wouldn’t be targets of their own committee’s investigation.

Taibbi goes on to talk about Khuzami and Breuer. Khuzami got on our own radar in this story. As Yves Smith wrote (quoted in that earlier story):

[Khuzami] was General Counsel for the Americas for Deutsche Bank from 2004 to 2009. That means he had oversight responsibility for the arguable patient zero of the CDO business, one Greg Lippmann, a senior trader at Deutsche, who played a major role in the growth of the CDOs, and in particular, synthetic or hybrid CDOs …

A “CDO” (collateralized debt obligation) is just the banking term for what this whole article is about — the “security” created by the banks, using RBMSs as the underlying thing of value. (Individual mortgages got packaged into RBMSs; RBMSs got bundled, sliced and sold as CDOs.)

What Smith is saying is that Khuzami was the boss of the guy who first created the hunger for mortgage-backed “securities” in the Global Pool of Money.

And as Khuzami’s apparent reward, Thank You Street has convinced Barack Obama to make him Schneiderman’s co-chair in investigating this mess, where he can perhaps do still more damage.

See why people are scratching their heads over this?

Bottom line — It really is the big enchilada if the Task Force does its job. Every big bank in the country will have execs in jail, and as our Matt Browner Hamlin pointed out recently, the banking industry itself could collapse and need restructuring. Matt argues, along with others, that the restructuring should have happened already, in 2008, so it’s long overdue.

This is the biggest story in the country you probably can’t wrap your brain around, but we’re trying to help out. Please stay tuned. We sure will.

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NEVADA SUPREME COURT RULES BANKS MUST PRODUCE THE ORIGINAL NOTE

Posted by revolt | NEVADA SUPREME COURT RULES BANKS MUST PRODUCE THE ORIGINAL NOTE | Saturday 11 February 2012 11:03 pm

Nevada Supreme Court rules lenders must produce the original note and complete paperwork in foreclosure cases

  • THE ASSOCIATED PRESS
  • First Posted: January 24, 2012 – 11:38 am
    Last Updated: January 24, 2012 – 11:39 am

LAS VEGAS — The Nevada Supreme Court is adding teeth the state’s foreclosure mediation program with a pair of rulings that lenders must produce all required documents before repossessing a house.

In unanimous rulings Friday, the court ruled there was insufficient documentation for separate foreclosure cases in Las Vegas and in Reno.

The court sent cases appealed by Carl Piazza in Clark County and Caroline Karl in Washoe County back to district court judges who had determined lenders produced enough documentation to foreclose.

The Las Vegas Review-Journal reports (http://bit.ly/yUclJI) the rulings mean “strict compliance” for lenders to produce the original note and deed of trust plus all subsequent assignments.

The foreclosure mediation program was created in 2009 to give lenders, homeowners and a neutral arbiter a chance to rework defaulted loans.

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READ ABOUT OUR NEW! – CERTIFIED MORTGAGE SECURITIZATION AUDIT

Posted by revolt | READ ABOUT OUR NEW! - CERTIFIED MORTGAGE SECURITIZATION AUDIT | Thursday 9 February 2012 2:17 am

The Homeowners Revolt.Com now offers our Certified Mortgage Securitization Audits, along with asset and investment research, specializing in providing data on securitized and non-performing assets. Our securitization research will reveal the name and location of your loan within a mortgage pool, unless it is a Fannie Mae or Freddie Mac trust, as they do not provide full transparency.

While our specialized Bloomberg Terminal report will provide you with the current tape information from the lender or servicer. We also have a live data update every hour from the FFIEC Central Data Repository that gives us instant access to the REO and late and non-performing loan portfolio data for 97.3% of all US banks.

Our audits provide information that gives our clients an informative edge in matters concerning their mortgages. With the vast majority of loans having been securitized, The Homeowners Revolt.Com assist you in performing the research necessary to determine who has the legal standing, or who is the true holder of your mortgage.

Our Certified Mortgage Securitization Auditors will report their findings based on facts and documentation, which should be considered fully admissible evidence, because they pertain to material issues, and the documentation upon which they rely, are derived from a source considered to be extremely credible and reliable. In addition, our experts stand ready to back up their findings court, with affidavits of the facts.

The Homeowners Revolt.Com believes that solid information can be the difference between a favorable outcome, or an outcome that will leave you in dismay. The Homeowners Revolt.Com has access to 5,700,00 securitized loans through loan tapes for currently active securitized deals and access to over 20,000,000 securitized loans for all publicly traded deals including paid off loans. We are able to find the majority of loans within the various pools and return that data to you in a prompt and timely manner.

We search public and proprietary databases for information concerning the securitization, sale or transfer of the loan obligation, note or mortgage. Our securitization search is a single loan specific search that not only provides information that might be found with some effort through typical Internet search engine strategies, but also includes information and documents relating to claims of ownership of the obligation (receivable), note or mortgage.

In addition, for investors looking to purchase Bulk REO properties, through our Bloomberg data and Securitization research, we also offer investors a competitive edge by providing REO, late and non-performing loan portfolio data for 97.3% of all US banks. This information allows us to see which banks have assets that must be moved, and if they are charging off debt which would indicate their willingness to move product. This information is valuable when calling asset managers to strike deals. Imagine knowing how much inventory they have and what percentages of their debt is REO, Non Performing 1st liens even Commercial deals.

SECURITIZED LOAN TRUST SEARCH AND ISOLATION

Through The Homeowners Revolt.Com, our auditors utilize a number of database searches to isolate the loan of interest in the securitized public pool letting you know who the loan is claimed to be owned by, utilizing all available resources, such as publicly recorded documents via means of Title Search, Loan level data examination, Bloomberg, SEC, examination of Servicer and Trustee’s databases and loan tapes. Our auditors are pioneers of loan isolation in the securitized pool, and have a high success rate at locating hard to find loans. On top of the Securitization search, we will provide a declaration attesting to the findings.

“As a part of the search, we present various findings and general information concerning the chain of Securitization of your loan etc. This is usually helpful to homeowners, former homeowners and their attorneys in deciding on defensive or offensive strategies. Knowing what pool your loan is in makes all the difference in your case.”

BLOOMBERG RESEARCH AND REPORT

After the securitized loan search is completed, the pool level documentation is retrieved for pubic deals in particular the prospectus, pooling and servicing agreement, underwriter agreement, swap agreement, Master agreement, Loan Assumption and Assignment agreement, if any or all available, as well as the servicer or trustee monthly statement on the pool performance, with some particulars of the non-performing assets. This report is compiled using the current bank tape and will include the following:

  • Notarized Declaration of loan search results.
  • Excel spreadsheet of trust verified through extensive research.
  • Excel spreadsheet detailing different classes the note is in within trust with CUSIP numbers.
  • Excel spreadsheet of loans in classes.
  • Screenshot of bond detail.
  • Trust prospectus (More complete than SEC prospectus).
  • Most recent periodic report screenshot of deal description.
  • Screenshot of underwriter/servicer/originator/trustee.

If information is the key, then we open the door to the evidentiary Truth! When critical information is what you need, and accurate reliable data is crucial to your cause, look no further then The Homeowners Revolt.Com to provide you with your Weapon Of Mass Destruction, to fight your mortgage WAR and WIN!

Click Here to Order your Certified Mortgage Securitization Audit NOW!

Click Here to read “Why You Need A Certified Mortgage Securitization Audit”.

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WHY YOU NEED A CERTIFIED MORTGAGE SECURITIZATION AUDIT

Posted by revolt | WHY YOU NEED A CERTIFIED MORTGAGE SECURITIZATION AUDIT | Wednesday 8 February 2012 11:44 pm

Pro Per litigants and Attorneys fighting foreclosure in civil or bankruptcy court need a Certified Mortgage Securitization Auditor to investigate the referenced foreclosure documentation and investigate the legitimacy of claims being made by the party seeking to foreclose.

We have seen too often how a wrongful foreclosure lawsuit can have disastrous results to the borrower, because they failed to properly prepare, and present the critical evidence to support their lawsuit. A Pro Per litigant or their attorney should order a Mortgage Securitization Audit from an outside third party certified expert to answer four simple questions.

1. Has the party seeking to foreclose demonstrated a true beneficial ownership?
2. Have claims of financial interest been fully disclosed and represented truthfully?
3. Have all beneficial owners and parties been voluntarily disclosed?
4. Have all material facts, documents and agreements that govern the transaction been disclosed?

If the answer to any of the above questions is no, The Homeowners Revolt.Com will have a Certified Mortgage Securitization Auditor perform the research and investigation to see if the foreclosing party has any legal standing to pursue foreclosure.

Our Certified Mortgage Securitization Auditors will report their findings based on facts and documentation, which should be fully admissable, because they pertain to material issues, and the documentation upon which they rely on, is a source considered to be extremely credible and reliable. In addition, our experts provide you with a legal affidavit of the facts, and stand ready to back up their findings in a court of law.

A Certified Mortgage Securitization Auditor oversees the audits, discovery, investigation and reporting. Our reports are more than just informative. We provide a declaration of facts attesting to our findings. Unlike other companies providing Securitization Audits, we provide SEC specific information on the trust and confirm those findings using Bloomberg data to validate the information, unless it is a Fannie Mae or Freddie Mac trust, as they do not provide full transparency.

Bloomberg is the industry leader for sourcing Securitization information, and you must have a specialized Bloomberg terminal, in order to access the information.

We service all 50 states both judicial and non-judicial, Civil and Bankruptcy, Pre-Foreclosure and Foreclosure. We provide data other companies just won’t bother to include, either because they choose not to, or they simply don’t have access.

When you decide on going into battle to present the facts, make sure you arm yourself with the Weapons Of Mass Destruction you’ll need in order to fight your mortgage WAR and WIN!

Only by having undisputed factual evidence and information, can you expect to get the results you desire. An audit that traces the Note and the Deed, verifies Title, pinpoints the EXACT Trust, pulls SEC specific information, and uses Bloomberg Professional, is the Weapon Of Mass Destruction you need!

Click Here to Order your Certified Mortgage Securitization Audit NOW!

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