NY Times | Nye Lavalle – A Mortgage Tornado Warning, Unheeded

Gary Bogdon for The New York Times

After his own experience dealing with a mortgage mess, Nye Lavalle set out to learn all he could about the mortgage industry, traveling nationwide to dig into records. In 2003, he compiled a dossier of practices at Fannie Mae. In hindsight, the problems he found look like a blueprint of today’s foreclosure crisis.

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“Any attorney general, lawyer, bank director, judge, regulator or member of Congress who does not open their eyes to the abuse, ask pertinent questions and allow proper investigation and discovery,” he said, “is only assisting in the concealment of what may be the fraud of our lifetime.”

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A Mortgage Tornado Warning, Unheeded

YEARS before the housing bust — before all those home loans turned sour and millions of Americans faced foreclosure — a wealthy businessman in Florida set out to blow the whistle on the mortgage game.

His name is Nye Lavalle, and he first came to attention not in finance but in sports and advertising. He turned heads in marketing circles by correctly predicting that Nascar and figure skating would draw huge followings in the 1990s.

But after losing a family home to foreclosure, under what he thought were fishy circumstances, Mr. Lavalle, founder of a consulting firm called the Sports Marketing Group, began a new life as a mortgage sleuth. In 2003, when home prices were flying high, he compiled a dossier of improprieties on one of the giants of the business, Fannie Mae.

In hindsight, what he found looks like a blueprint of today’s foreclosure crisis. Even then, Mr. Lavalle discovered, some loan-servicing companies that worked for Fannie Mae routinely filed false foreclosure documents, not unlike the fraudulent paperwork that has since made “robo-signing” a household term. Even then, he found, the nation’s electronic mortgage registry was playing fast and loose with the law — something that courts have belatedly recognized, too.

You might wonder why Mr. Lavalle didn’t speak up. But he did. For two years, he corresponded with Fannie executives and lawyers. Fannie later hired a Washington law firm to investigate his claims. In May 2006, that firm, using some of Mr. Lavalle’s research, issued a confidential, 147-page report corroborating many of his findings.

Be sure to read the rest here…

Nye will be on Citizen Warriors Radio next week.

More follow-up on this from Nye to come…

Copy of the Fannie Report below…

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4closureFraud.org

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Confidential Report to Fannie Mae Regarding Shareholder Complaint of by Mr. Nye Lavalle

Comments
16 Responses to “NY Times | Nye Lavalle – A Mortgage Tornado Warning, Unheeded”
  1. kravitz says:

    Eric Schneiderman and Kamela Harris are more likely to sign the settlement, says the New York Times.

    Deal Is Closer for a U.S. Plan on Mortgage Relief
    http://www.nytimes.com/2012/02/06/business/mortgage-relief-plan-is-closer-to-winning-support-of-2-key-states.html?_r=1&hp

    “The potential support from California and New York comes in exchange for tightening provisions of the settlement to preserve the right to investigate past misdeeds by the banks, and stepping up oversight to ensure that the financial institutions live up to the deal and distribute the money to the hardest-hit homeowners.”

    • lvent says:

      THE COURTS ARE WELL SETTLED ON THE FACT THAT ANY ACT OF FRAUD IN A LEGAL CONTRACT NULLIFIES THE LEGAL CONTRACT….AND VITIATES THE ENTIRE COURT PROCEEDING….NATIONWIDE LOAN RECISSIONS AND CLEAR TITLE BACK TO THE HOME AND BUSINESS OWNERS IS THE ONLY CORRECT AND LEGAL RESOLUTION FOR THE ORIGINATION FRAUD WHICH WE DID NOT AGREE TO…THAT OCCURED IN SOME CASES…BEFORE WE SIGNED ANYTHING…WELL WITHIN THE 30 DAY WINDOW OF TIME TO RESCIND…WIDELY DECEPIVE PRACTICES AND UNFAIR DEALING PREVENTED US FROM KNOWING THIS UNTIL WE SENT THEM THE QWR…

      • lvent says:

        BTW RUDY…I DONT CALL THEM OUR FEDERAL GOVERNMENT …..THEY ARE OWNED AND CONTROLLED BY THE MONEYED ELITE…THE VATICAN/JESUIT/ROTHSCHILD NEW WORLD ORDER…all roads lead to ROME….THEY MUST BE THROWN OUT AND ABOLISHED…WE MUST ISSUE OUR OWN CURRENCY..AS THE U.S. CONSTITUTION REQUIRES CONGRESS TO DO. TO MAINTAIN NATIONAL SOVEREIGNTY,……..BACKED BY OUR OWN NATURAL RESOURCE REVENUES…US BANK NOTES…STATE BANKS..THEN NATIONAL SOVEREIGNTY AND FREEDOM WILL PREVAIL!!!

    • lvent says:

      AN ESTIMATED $1.2 QUADRILLION DOLLARS IN DERIVATIVES FRAUD IS NOT A MISDEED…IT IS LIFE IN PRISON FOR THE HEADS OF THESE WALL STREET/ BANKSTERS AND GSES..PAST AND PRESENT..AND CHARGES OF HIGH TREASON FOR A VERY MANY POLITICIANS…WHO HAVE THREATENED OUR NATIONAL SOVEREIGNTY….THE WORSE POSSIBLE CRIME A POLITICIAN COULD COMMIT!!! OFF WITH THEIR HEADS!!!!

  2. Rudy Thomas says:

    Some of you miss the big point. Fannie Mae (and likely Freddie Mac) were involved in the fraud. That is, our own Federal government condoned the fraud and actually participated in it. Still think that the government will REALLY help?

    • lvent says:

      RUDY THOMAS…THE FEDERAL GOVERNMENT NOT ONLY ALLOWED THE MASSIVE FRAUD BUT THEY ALSO PARTICIPATED IN IT…THAT FACT PRESENTS AN UNCONSTITUTIONAL AND THEREFORE ILLEGAL CONFLICT OF INTEREST AND NULLIFIES AN CONTRACT, NOTE OR LEGAL INTEREST IN OUR HOMES OR BUSINESSES…THEREFORE THEY MUST RESCIND…CLEAR TITLE BACK TO ALL OF US….THE ONLY ENTITY WITH A CLEAR TITLE BACK TO OUR DEEDS THAT WE HOLD IN OUR POSSESSION…..GOD BLESS AMERICA….!!!!

    • lvent says:

      F★*K them…they are greedy, deceitful, lying, freedom stealing, wealth stealing whores.!!!.the scoutge of humanity..agents of Satan..scum of the earth! THEY MUST BE TROWN THEM OUT AND ABOLISHED!THEY ARE A THREAT TO OUR NATIONAL SOVEREIGNTY….AS WELL AS THE TRAITOR POLITICIANS…IT IS A DISGRACE WHAT THEY ARE TRYING TO DO TO AMERICA!

  3. Ken Hansen says:

    Holy jeeze – as someone said on another site, Nye had a lot of money and good information, he fought the bastards for 7 years and still lost the house in question.

  4. cmc says:

    YOUR THE BEST NYE……..I LEARNED A LOT FROM YOU ON MSFRAUD STARTING IN 2008. GUESS WHAT??? iM STILL IN MY HOME. IT WAS YOU AND A FEW OTHER PATRONS ON THE FORUM THAT HELPED ME IN MY FIGHT …….. GREAT WORK…..

    CMC

  5. PENDINGLAWSUIT says:

    Barry Fagan v Wells Fargo Bank

    Reply Brief with Expert Opinion of CPA Shawn P Adamo and Forensic document examiner Dr. Laurie Hoeltzel concerning Wells Fargo’s bank and document fraud.

    http://www.scribd.com/doc/79351619/Barry-Fagan-v-Wells-Fargo-Bank-Re-Reply-to-Wells-Fargo-s-Opposition-to-Plaintiff-s-Motion-to-Compel

  6. Javagold says:

    Talk about being ahead of the curve….not much more impressive than Nye

    • Fury says:

      exactly.

      the first name that i heard when my family was hit w/ fraudclosure, was “nye lavelle,”

      i thought it was a pseudonym because it sounded so hip.

      he was/is at the vanguard,

      he has been absolutely right.

      we cannot ever repay the debt of gratitude.

      • lvent says:

        THESE ARE OUR TRUE AMERICAN HEROES.!!!!..THE WHISTLEBLOWERS AND THE TRUTH TELLERS…THESE ARE THE TRUE AMERICAN PATRIOTS….GOOD PEOPLE WHO TELL THE TRUTH TO TRY AND WAKE UP THE MASSES TO EFFECT A CHANGE AND CORRECT THE MISTAKES…NOT COVER THEM UP…THIS IS WHAT THE MONEYED ELITE AND THEIR MINIONS AND COHORTS IN CONGRESS REALLY FEAR…THE DAY THE MASSES WAKE UP AND REALLY GET IT!!!

      • lvent says:

        These are the people we need running the Country…real American people who get it…people like Nye…Eliot SPITZER..Matt Weidner, Michael and Lisa..Max Keiser…Dylan Ratigan…and so on…we know who they are…AG SCNEIDERMAN…AG LISA MADIGAN…AG COAKLEY…ETC…

  7. lvent says:

    God Bless the whistle blowers…!!! Bad things can only happen, when good people say or do nothing!!!! Thank You a million times and more Mr. Nye Lavelle…!! You are a true gentleman and a true American patriot….!!! Your white paper really made me understand the scope of their mortgage scam and I am forever grateful for that information!

  8. Fury says:

    thank you, nye.
    you are our hero!

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