Never thought we would have been featured in the Florida Bar News in a positive light, but hey, maybe we are making a bigger impact than anticipated…
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Who owns the note? Paperwork problems still plague foreclosure actions
Excerpt from the report…
Michael Redman, a founding member of 4closurefraud.org, a citizen group based in Palm Beach County that helps homeowners fight foreclosures, said there’s no difficulty finding defective paperwork.
“The real question is what is the percentage that’s not affected,” Redman said. “I would say it’s in the high 90 percentile that all of it was affected up to early this year.” Despite claims by major banks that they have overhauled their foreclosure paperwork preparation, “I’d say it’s still questionable,” he added.
(Associated Press, Reuters, and the St. Petersburg Times have all published recent stories claiming that abuses in foreclosure paperwork, which banks said were ended last year, nonetheless are continuing.)
“We used to spend hours upon hours in the file rooms, and it would be rare to find one [a foreclosure] that didn’t have some type of issue,” Redman continued. “Either it wasn’t a verified complaint, or the affidavits of the amounts due and owing were not done under personal knowledge.”
Robosigning was rampant, he added, pointing to depositions where signers admitted they signed hundreds of files a day without personally verifying the correctness of the figures.
Redman blamed the real estate financing system during the housing boom. Mortgage originators were eager to collect fees and less concerned with making sure all the paperwork was correct. Financial institutions were eager to take the mortgages and bundle them into securities and weren’t concerned that all the paperwork done before the securities were issued. Much of it was never done, he claimed.
“The problem is there’s no way to fix it without making it [paperwork] up,” Redman said. “It was never properly securitized and transferred.”
The website associated with Redman’s group claims to have uncovered evidence that many mortgage originators stopped conveying the notes accompanying mortgages at the height of the housing boom in 2004-05. In most states, including Florida, possession of the note is necessary to show the entity bringing a foreclosure action actually has the right to collect that debt.
‘Fraud of the Week’
The site also began a feature called “Fraud of the Week,” where it takes 10 randomly selected foreclosure cases and prints the most “egregious” paperwork deficiency — the assumption being there will be no problem finding multiple problems in any selected 10 cases. One problem highlighted by the site last year was a case where two different entities filed “wet ink” signed notes claiming to own the same mortgage. 4closurefraud.com concluded the signatures actually were copies run through a computer to add the blue color and make them look original.
There has been no formal study of foreclosures filed in Florida to determine the extent of the paperwork problems, but the Attorney General’s Office has undertaken several investigations of law firms and private companies that prepare foreclosure documents.
Jennifer Krell Davis, press secretary for Attorney General Pam Bondi, said 11 investigations have been started, and one of those, against a law firm, has been settled. That law firm, which cooperated in the probe, paid $2 million and agreed to follow certain practices in foreclosure cases.
“Our investigations are ongoing,” Davis said. “We would not be able to provide any conclusions regarding how widespread these document issues are.”
You can check out the article in full here…
Although it is a well written article on what is happening in foreclosure cases, it mentions nothing on the laws that are continually being broken by the lenders and their attorneys, nor any mention of prosecutions.
The author asks..
What’s the Significance?
Beyond that, are the problems with the documents significant? Are they just technical and don’t affect the underlying failure of the borrower to repay the lender? Is a missing assignment as mortgage notes change hands more or less significant than a robosigned affidavit? Are paperwork snafus significant challenges to the functioning of the legal system that also carry implications on the trustworthiness of the title of foreclosed property?
But offers no answers…
These things described above are CRIMES, some FELONIOUS, and they should not be justified because someone is allegedly in default on their mortgage/note.
How do you think they got there in the first place?
FRAUD. Perpetrated by the same entities that produced the “robosigned” documents…
You can check out the article in full here…
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So happy the Florida Bar publication finally recognized Michael’s and LIsa’s efforts and discoveries, on behalf of Florida homeowners! Congrats to you both.
On another note, in my dentist’s waiting room today, the financial channel was on. I learned that Moody’s had downgraded BoA. The commentator took that to mean in the event of another crisis like 2008, BoA may not be deemed worth saving–(no bailout.) She had similar thing to say about Citigroup.
How the mighty are falling!
FRONT PAGE NEWS….This article should kill the Florida 2011 Fair Foreclosure Act and the careers of those who support it…I wish I could say I learned alot from this article, but it’s actually old news, Mike and Lisa have been exposing the fraud, forged documents, robosigning and the deceptive practices for years. The criminalbanksters were too busy shorting coke and pumping whores to worry about the doing their paperwork correctly to protect OUR land records. . Now they are making political contributions to get this garbage legislation passed. NO, NO, NO, NO this needs to play out in the light of the courts and not behind closed doors.
Congratulations to 4closurefraud who fights for Justice in America
……for not following the law…..
Cogratulations !
America owes you so much for for your outstanding and constant fight for the homeowners of America. It may be a fluff piece, as noted about, but it is a small crack in the dam that is under pressure that the lawyers are facing everyday following the law and kow tow to the criminal judges.
We will make an offer to your lender to accept our program.
Benefits to you.
No up front fees.
8 year zero interest loan
100 % principal reduction
If your lender accept our program you get to keep your home and poses a 100% zero interest loan at market value.
If your lender does not accept our program you will have the option to force their hand by suing them. They do not have the legal standing in order to bring an action or a claim against you based on an alleged default.
Visit our site to get a further understanding on why you will prevail in court or benefit from our program.
Good luck and we look forward to empowering you in the future.
Sincerely,
Rodolfo de Hoyos
CEO
HomeSolutions.SC LLC
REALLY, WE GET TO KEEP OUR HOME? WE, THE U.S. TAXPAYER, ALREADY PAID WAY TOO MUCH MONEY FOR THESE HOMES…….NOW WE THE PEOPLE THINK THESE CRIMINALS SHOULD BE PAYING BACK ALL OF US………WITH A FULL LOAN RECISSION…..WE HAVE THE ORIGINAL STAMPED PAID DEED….WHAT DO THEY HAVE PROOF OF? CAN THEY PROVE THE ARE THE PARTY THAT LENT US ANY MONEY? NO THEY CANNOT….BECA– USE THEY DID NOT….LEND US ANY MONEY….AT ALL….
whats your website ?????????
i’m glad that michael got recognition in the article.
he and lisa have helped so many people — far more than the florida bar.
if the florida bar were truly interested in “protecting rights and pursuing justice,”
its members would aggressively pursue the banking criminals, f/c mills,
rocket dockets, corrupt judges, pam bondi’s conduct and her office.
Fury…..Oh my…..Unless I missed something along the way….But Michael and Lisa have certainly done mucho amount of work for the people of Florida and the country…the Florida Bar has done nothing of any good….nothing….maybe someone can correct me if I am wrong.
In your second paragraph …ALL those mentioned… in the opinion of many others….the reason we see a difference of right and wrong is….they may be under a different Constitution than the American Constitution…..such as the NWO Constitution….remember black is white and white is black….as we believe what are OUR RIGHTS…is not their belief….such as the lawyers in America…are under the British oath..which may be the same as the NWO oath. The NWO has control over many area’s of our lives…we just didn’t know that…this has been for many years…such as EDUCATION…to teach the children what the NWO wanted them to know…not what was and is right to know….TO BRAIN WASH….. LAW… ….to do as the NWO wants AND DEMANDS…..not what we the people want…the courts are working as black is white and white is black…nothing in the courts is for the people..it is for the NWO…and so on….WE have been lied to for many years…..we have been under the control system done in secret by our politicians..all Presidents and Vice Presidents…Congress…and many others in Washington…they all were under the NWO….Unless this country stands up and fights the fight…we are near the end of our country…and our citizenship….we will no longer have any rights. Google the NWO Constitution….there is plenty to learn what is in the plans for you and your family………
Google WCPA, the World Constitution and Parliament….or the World Constitution…..Google, Agenda 21. This is their way to sneak this no longer evil hidden agenda in countries all around the world….Our cities and towns have all been told to institute this evil NWO Agenda into our daily lives…right under our noses.
I vent…I even read where the states would be in control of the children..NOT THE PARENTS…and STERALIZATION of the Blacks, Hispanics , Native Indians and Asians…I believe it said Asians. I take that as they will be slaves till they die off and there will be no more of them…THESE ARE GUTZY BASTARDS…..WELL….it sounds to me ….they left out the whites..middle class and poor…does that tell you something?
I noticed the Florida Bar said nothing about what it is doing. It is all a fluff piece. It said nothing of judges and their misuse of the bench and power against home owners. All they can think about is: “I ain’t giving anyone a free house.’ And all their rulings have this pounding the back of their heads. They do not care of the fraud that was done. The Florida Bar has a responsibility to the people of Florida to protect us. Why make us file complaints against attorneys? The Bar is a joke as far as I am concerned. What have they said about judges making decisions without hearings? NOTHING! This will allow judges to robo-decide thousands of cases and never read them at all. Just assign their LA to sign his name and make up robo-decisions and just insert the proper court heading and case numbers. Mr. Redman is a great American, I bet they could not condescend to say that? Lisa Epstien is a great American. These two people have helped more people than the Florida Bar. And the Bar has tons of money and refuses to use any of it to help the people. Florida Bar, write about something you are doing…. I will not hold my breath.
What was that new phone number for bankers fraud investigators?
It is now a well known fact that they destroyed the notes to cover up for their crimes….Ohio Congresswoman Marcy Kaptur let the cat out of the bag on this a while ago…….She told the people of her state to be squatters in their own homes because they don’t have the notes up on Wall Street…….Stop the Fraudclosures…..!!!!
The Legal Reality Newsletter is interesting, today. It’s about the legal status and obligations of a Notary Public.
http://georgesblogforum.wordpress.com/2011/09/20/legal-reality-newsletter-20-september-a-d-2011/
Wow…….that coming from florida Bar News!