Firm says its new software ensures the soundness of foreclosure papers
By Christine Stapleton
Palm Beach Post Staff Writer
Lender Processing Services, the subject of a 60 Minutes segment about foreclosure document fraud, has added “new document integrity management capabilities” to the software it markets to loan servicers.
According to a recent company newsletter, LPS consulted with servicers in late 2010 “to understand the nuances of the ‘personal knowledge’ standard, including process steps and needed proof at the conclusion of an affidavit of indebtedness review that all steps have been followed in compliance with internal policies and procedures.”
In countless foreclosure cases, attorneys have argued that Docx, a defunct subsidiary of LPS, used so-called robo-signers to sign sworn affidavits claiming they had “personal knowledge” of a foreclosure case, often without reviewing the documents.
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Just remember the november election is right around the corner . All of the crooks that is in public office that sided with the Banksters pack your bags you about to go home and face the music .
Looks like LPS has found an even more INSIDIOUS way to commit fraud and STEAL HOMES FANNIE MAE/FREDDIE MAC DOES NOT OWN. REALLY NEW SOFTWARE CAN PRODUCE LEGITAMITE DOCUMENTS AND CLEAN CHAINS OF TITLE OUT OF THIN AIR? WHAT ABOUT MERS? CAN IT FIX THE FRAUD THAT MERS COMMITTED THAT HAS DESTROYED TITLES NATIONWIDE FOR THESE FRAUDSTERS TO LEGALLY FRAUDCLOSE? I have a title conveyed to me but not NEVER TO FANNIE. WHY? THEY NEEDED COLLATERAL FOR THEIR PONZI SCHEME HEIST!!! RESCIND OUR LOANS BECA– USE WE THE PEOPLE CAN PROVE THE ORIGINATION FRAUD AND THE FRAUDULENT INDUCEMENT OF THE MORTGAG. AND THEIR UNLAWFUL AND DECEPTIVE PRACTICES ABOUT THE GIANT PONZI SCHEME HORSE RACE THEY WERE ENTERING US INTO ON WALL STREET, WITHOUT US KNOWING ANYTHING ABOUT IT, THEY WERE REALLY DEFRAUDING US AND SETTING HOMEOWNERS UP TO LOSE EVERYTHING IN THAT GIANT PONZI SCHEME HORSE RACE AND THEREFORE WE WERE SET UP TO LOSE EVERYTHING EXACTLY HOW AND WHEN THE ORIGINATORS OF THE SCAM WANTED US TO. NOW THEY WANT THE PERPS TO STEAL OUT HOMES BACK FOR THEM TO COLLECT MORE MONEY ON THAT THEY ARE NOT OWED. RESCIND OUR LOANS. THEY NEVER EXISTED.
Correct, a land grab is what this was. They got all our savings now they want our land. The program was planned to fail and zillions of dollars were made. I agree, we should all own our houses free and clear, we paid dearly with TARP. Every time a buyer walked into the door of a fly by night mortgage outfit they were entered into Mers. A ‘Property Preservation Company’ was assigned to take care of your home after the foreclosure. Now they are everywhere and I suppose they are owned by the banksters sons-in-laws. Sinister as well is that most of the mortgage brokers supplying these loans are now closed…where is the paperwork. Where is the paperwork for all the closed title companies that have been take over by Fidelity. Where is the paperwork for all the escrow companies now closed. Guess, no one knows but we are to believe they reside in a vault somewhere but I would guess no one knows where the vault is. Ask for a copy of the docs from you ‘servicer’..you get told you have no right to them. Why, perhaps because they don’t exist anymore. A borrower is entitled to receive a copy of every document signed at closing. I have looked a the closing papers on several loans….they are not complete..there are no copies of any notes, deed of trusts or title reports. Maybe the computer didn’t generate them, perhaps they were forged later. I need some brain bleach.
And, further, I wouldn’t trust any computer program to do a mortgage loan. I have seen the docs the computer spits out and they make no sense. In fact I was a trial person that tested a computer program for mortgage loans and was so frustrated because EVERY loan is unique. No computer program can ‘process’ a mortgage loan period. Much less do what this article implys they can do. Yes, they will spit out a pretty form but that is all it is, a pretty form that makes no sense.
This is how ROTTEN THESE SNEAKY CRIMINALS have become, I have this clearly stated in my fraudclosure summons, the Plaintiff is joining ME, the defendant and trying to FRAUDCLOSE IN THE NAME OF MERS.. They do not even have enough proof to stand on their own two feet and FRAUDCLOSE IN THEIR OWN NAME. THIS IS COMPLETELY FREAKING NUTS. The Plaintiff who is the PRETENDER LENDER and FANNIE MAE’S CRIMINAL ATTORNEY NETWORK brought forth and filed the complaint FOR MERS!!! WHY? BECA– USE not only is MERS IS A SHAM AND A FRAUD but so are the THIRD PARTY PRETENDER LENDERS AND FANNIE MAE and their CRIMINAL ATTORNEY NETWORK FISHER AND SHAPIRO. They are trying to “trick” ME with PHONY FRAUDULENT CLAIMS OF OWNERSHIP when really they are claiming MERS IS OWED THE MORTGAGE and MERS CANNOT POSSIBLY BE OWED THE MORTGAGE, Then in the same FRAUDCLOSURE SUMMONS, they are hiding behind me, the defendant fighting who is fighting against them, and they are trying to FORCE ME TO FRAUDCLOSE AGAINST MY SELF…. WTF!!!. . .RESCIND OUR LOANS.
If you buy a registered horse art a horse sale when you go to pay someone, if three say you should pay them, you would only pay the one that had the original registration papers in their name and they would sign off those papers to you. Very simple. No argument as everyone understands.
You buy a car, you give the check to the company or person that has the original title to give you.
No title, no check, as it would be very hard for you to resale it if you didn’t have the original title in your name.
very simple. No arguments as everyone understands.
Why is it so hard to understand a person not paying a company or companies when they cannot prove they have the title or in houses they call it the note?
It’s all the same processes exactly. Why is it so hard to understand in houses? Go to a bank and request a loan on a horse, car, house without the original registration papers, original title or original note and see if they will loan money without it or on just a copy of it? Of course not, and everyone knows and understands it very well.
This is not hard! Financing 101.
Perfect analogies. But regarding home loans Mers didn’t want to deal with the pesky paperwork. They wanted paperless mortgages. Plus, the title companies were in on it, didn’t anyone have the forsight to look ahead? That is one of the first things I learned in the mortgage business…look ahead. Take care of the problems before sending the loan for approval and there won’t be any problems. And the ‘just take my word this is a good loan’…yes, I would have lasted about a day. But I guess that is what happened when I left, nobody checked anything, nobody cared, nobody was qualified to do their jobs, if you breathed you got hired and a lot of people made a lot of money, that’s what I hear. For not doing anything but getting a breathing buyer in the door. In fact I have read that even applications were phony..no buyer at all.
The “nuances of personal knowledge”? Bwahahahahah. Just having to ask that question indicates that there is an ethical lapse.
Even if you buy what they’re selling in that they have corrected all the errors in the fabrication process. That at this point they have found all the original documentation that they were supposed to be using but were just to lazy or cost prohibited from pulling from the depths of the ocean where they apparently stored them all it does is suggest that going forward there is a greater likelihood that the documents provided won’t be fraud. That is the least significant concern of the entire industry. There is still standing, origination, greed, due process, servicing (not including robo signing), securitization via not following the outline of their own corp structured pooling and servicing agreements, etc., etc., etc.
I just don’t see how their release is anything more than a wave of their hand over a hot stove suggesting all is well.
The media needs to start discussing the implications of what’s going on and how regardless of whether they are using better software or not it doesn’t dissolve the fact that they used fraud shops to skip past legal procedure and we are supposed to just ignore it now and in fact accept that they are now doing it right out of the goodness of their hearts.
How foolish are we?
Not foolish. I believe that the fact the 60 Minutes was even allowed to air this program is a miracle. I want homeowners to get over the ‘shame’ that msm is trying to implant in our brains. When the Mortgage Bankers Association does a Strategic Default on their NY office and then has the audacity to go on national t.v. and tell homeowners it is not a moral thing to do on their homes, then I know I have slipped into an alternate universe. Shame on all of them, shame on them.
You have to realize that the MBA does not have to follow the rules because they are exempt from them in their minds. They have the do as I say, not as I do mentality. Still with all the fraud coming out in the open, lots of people still say “get out if you can’t pay”. It does not matter if the f/c mills had to produce false docs, you couldn’t pay anyway.. These people think the deadbeats are getting special treatment. I also believe that some of these people are now afraid they could be next, so they strike out at the deadbeat homeowners–a look at where they may be someday.
How can anyone or company believe the LPS now has the software to make it all better. Today is a real down day for me, and quite frankly I feel the odds are stacked against us. The banks want the home and eventually they will get get because the laws of this country are totally ignored.
One episode of 60 minutes only touches on a tiny portion of what has gone on in the way of fraud. I’ve said this many times in my postings and I honestly believe it is correct, we need lots of media coverage. That means tv, radio and newsprint. It all needs to be made public. The lost revenue, the bonuses of the top paid elite bank fraudsters to the tune of 35 miliion while taking tax payer bailout money. That alone could be one show. Show how the used MERS to avoid millions in revenue to the states and counties and then span a shot of their mega mansion compounds made off the backs of fraud mortgages. Have someone do a show segment with poster boards showing how many times the same home is sold and the actual money made on it.
Do a segment with a few homeowners with real horror stories being told on tv. Use the ones where by the mistakes and clouded titles what happened. Have a person who purchased a bank owned home who now finds out they do not have clear title. — USE REAL people.
Just like the lawyers who won’t touch these cases and help homeowner are turning their backs on a real revenue opportunity while helping nail these banks, tv is also turning their backs on shows that would probably get some great ratings.
I think we just have to keep trying like the ‘little train that could’! But I know we would be better positioned with more press like Lynn got us. We need well coordinated efforts.
the sound
of ka-ching — making money while defrauding homeowners.