Foreclosure Fraud Panel Three Hearing Testimony – Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Date: November 18, 2010
Time: 10:00AM

Location: 2128 Rayburn House Office Building

Witness List & Prepared Testimony:

• Mr. Adam Levitin, Associate Professor of Law, Georgetown University Law Center

• Mr. Anthony B. Sanders, Professor of Finance, Distinguished Professor of Real Estate Finance, School of Management, George Mason University

• Ms. Julia Gordon, Senior Policy Counsel, Center for Responsible Lending

• Ms. Linda Fisher, Professor of Law, Seton Hall School of Law

• Ms. Anne Anastasi, President, American Land Title Association

Full testimony below…

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4closureFraud.org

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Panel Three Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Comments
12 Responses to “Foreclosure Fraud Panel Three Hearing Testimony – Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing”
  1. It is long overdue, we need to create an organization, maybe fueled by sites such as this one, my own http://www.americansunitedforjustice.org and many others out there, where we can function beyond and across state lines as the voice of the people. Much in the way groups like Move on dot org function, (I am not referring to their political agenda just their organizational structure and functions) where we can integrate with labor unions, activist groups, social networks and serve as a centralized strategy planning and mass mobilzation organization for a concerted effort against the crooked judges (for judicial accountability) and against those politicians who would sell out America for their own material gain in this battle for the constitutional right to due process..

    We already know that we would have a very powerful following, as more than 50 million Americans are directly involved as victims of this massive foreclosure Ponzi Scheme. We can do this and the time to do it is now! I will be posting more about this here soon also at http://www.americansunitedforjustice.org

    I have no doubt that this site, also Foreclosure Hamlet, stopforclosurefraud.com, livinglies, msfraud etc.. all have the necessary experinece, leadership and tools we need to create a national organization. LETS GET TO WORK and lets hold these judges and politicians accountable!

    If you read the headlines today: “Wall St. faces massive insider trading probe”, you can clearly see that Walls Street no longer creates wealth, it consumes it! Therefore, it is upon our shoulder, it is our responsability to ensure that our experiment in democracy survives this onslaught by those who would sell the American Dream to the higest bidder; for if we do nothing, we may not have a country in the future to call home!

    SPREAD THE WORD!

    Nelson J. Velardo

    http://www.americansunitedforjustice.org

  2. The 2 big problems with Loan Mods, on top of the robo signing FRAUD-CLOSURES is that the Bankters and Servicer’s have a dual track system on one track they are processing a Loan Modification (while the banks makes it hard for the borrower to get approved) at the same time, In another track system they are foreclosing on the homeowner, This dual tracking system should stop immediately, while the borrower is trying to get approve for a Modification or its in the process, they should not do the foreclosure process in another system at the same time , Another big solution to this mess is to take away the Loan Modification program from the servicer’s and give it to and independent agency that can be fair and balanced

  3. Zion says:

    Did anyone else notice that the guy who testified today for MERS said “At foreclosure, the mortgage and the note COME BACK TOGETHER”? Isn’t that a win for us as we try to prove separation of the note and mortgage? If the note and the mortgage are separated, then the mortgage is a nullity, and the promissory note is unsecured. Right?

  4. kravitz says:

    So what did the bank or government do to help this woman before it got to this?

    Missing Woman Found Dead In Her Foreclosed Home
    http://www.businessinsider.com/missing-woman-found-dead-in-foreclosed-home-2010-11

    “The previous owner of a foreclosed home in Brevard County, Fla. was found dead in the passenger seat of a car in the garage, according to WESH 2 news.”

  5. joe parisi says:

    The banks will be looking to set up a settle fund, remember Spitzer? Don’t let it happen. Have spoken to several attorneys- real estate and seasoned. They concur, fraud submitted in court filings is something that should be addressed criminally. If an ordinary citizen did same, would they not prosecute?

  6. ileb says:

    The panel of academians and the title expert have turned this hearing around. If ONLY anyone will really listen. One can HOPE.

    • J A says:

      I agree. They are so knowledgeable, and precise and calm in their delivery of the facts without the bias being industry insiders, that it will hopefully be hard for anyone in govt to ignore the truth they speak. I was really impressed with Adam Levitin in the hearing the other day presided over by Sen Dodd.

      Joe, I also agree that it shouldn’t be ignored that fraud is a crime, and should be punished accordingly!

      • ileb says:

        It seems to me that the key to part of this HUGE fight is against MERS. The real issue with MERS is that individual STATES need to outlaw it. If they do then the title companies cannot insure the loans. If the loans cannot be insured than that is a BIG problem for the banks. I read the info provided by Ms Anastasi and she really made it clear that it is the STATES that decide this aspect of property law. We need to hammer our state A.G.’s, Congressman, Representatives and Govenors with our voices so that they know we are watching and they will be held accountable.

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