Fannie, Freddie Said to End Lawyer Networks Amid Mortgage Woes
Fannie Mae and Freddie Mac will phase out their foreclosure attorney networks in the wake of the so-called robo-signing scandal, the companies’ regulator said.
The Federal Housing Finance Agency directed the companies to transition to a system that allows mortgage servicers to select their own law firms for processing defaults and foreclosures, rather than relying on a pool of attorneys designated by Fannie Mae or Freddie Mac.
The move is in line with an ongoing effort to establish uniform foreclosure processes at the two companies, the FHFA announced in a press release.
Fannie Mae currently requires mortgage servicers handling its loans to use its Retained Attorney Network for foreclosures and bankruptcies. Some of those lawyers have been accused by lawmakers, regulators and consumer groups of mishandling paperwork for evictions and foreclosures, including falsifying signatures on court affidavits. The dispute led many mortgage servicers to suspend foreclosure activity last year.
In a September report, the FHFA’s Office of Inspector General found that Fannie Mae did not monitor the conduct of its 191 network law firms.
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“Mishandling paperwork”!!!!!!! The taxpayer gets to pay for the defense of the same m.f.’s that are stealing our property to the tune of 50 billion!!!!!!! Die Feddie and Fannie allready!!!!!
Wait a minute you dirty crooks…..!!!!! SERVICERS ARE NO MORE THAN THIRD PARTY DEBT COLLECTORS FOR A CHECK THAT WAS ALREADY CASHED……….THE INTEREST IN THE CHECK THE PRETENDER LENDERS SOLD TO THEIR INVESTORS….NEVER REALLY EXISTED….. AND THERE IS NO COLLATERAL TO BACK THAT INVESTMENT UP BECA– USE OUR HOMES ARE PAID FOR…AND HAVE BEEN SINCE THE ORIGINATION FRAUD….THE DAY WE HANDED THE PRETENDER LENDER A CHECK WHICH IS AKA THE NOTE ….THAT THEY COPIED AND THEN…. CASHED AT THE U.S. TREASURY, BACKED WITH THE FULL FAITH AND CONFIDENCE OF THE U.S. TAXPAYER…. AND THEY TURNED AROUND AND RESOLD AN INTEREST IN THOSE COPIES OF THAT CASHED NOTE, …..OVER AND OVER AGAIN..VIA WALL STREET……AKA MORTGAGE FRAUD…..IF WE WOULD HAVE DONE THAT, WE WOULD HAVE BEEN IN PRISON A LONG TIME AGO….
Trott & Trott and all of the others — must be a huge loss in revenue stream. Suck on that you scumbags.
Yeah, “mishandling paperwork”…is that what it is? Well, the handcuffs most of these people should be wearing are just “bracelets”. There is no putting lipstick on that pig – they have committed fraud and they made millions while throwing people out into the street and they should be punished to the full degree of the law.
Perhaps the people helping to screw the homeowners and investors and the American people will be looking from the same window we are, when they loose their jobs, or perhaps they will go to work for the new companies since they are so experienced with fraud.
The MILTARY CHANNEL is airing a program tonite entitled: NAZI COLLABORATORS…TRAITOR IN CHEIF…THINGS THAT MAKE YOU GO HMMMMMMM……………………….???? COULD HISTORY BE REPEATING ITSELF ON OUR OWN SOIL????
Well does this mean they are dumping FISHER AND SHAPIRO and there ILLEGAL FRAUDCLOSURE THEY FILED AGAINST ME?????….WITH NO LEGAL RECONVEYANCE RECORDED TO THE PREVIOUS PRETENDER LENDER BY THE FAILED BANK WHO CLAIMS TO BE AMCORE BANK NA, MERS….WHO DID THE REFI………. ASSIGNMENTS??????..FUGGETABOUTIT!!!…THERE AREN’T ANY…..!!!!!!! I CAUGHT F&S RED HANDED….THEY STAMPED OVER FORGERIES THAT “SOMEONE” COMMITTED ON THE ORIGINAL MORTGAGE…THEY ALSO REMOVED THE ALLONGE PAGE AND ADDED THE SO CALLED ORIGINAL NOTE AND NOW THERE ARE TOO ALLONGES TO THE SAME PRETENDER LENDER!!!!…..IDIOCRACY….IN PLAIN SIGHT…THEY HAVE NO LEGAL STANDING TO TAKE AWAY SOMEONE’S HOME AT ALL…THIS IS THE CRIME OF THE CENTURY….90% OF PEOPLE DON’T HAVE CLUE THAT THESE PRETENDER LENDERS ARE OUTRIGHT STEALING THEIR HOMES AND NO LAWYER WILL TELL THEM……THEY ARE HANDING THESE CROOKS THEIR HOMES ON A SILVER PLATTER… FRAUDCLOSURES ARE A SCAM AND A FRAUD…………..!!!
My local news reporting Rahm Emmanuel announced today that the sheisters at ERNST AND YOUNG are going to be hiring 500 workers in Chi-town…….Probably gonna be getting top pay too because there is lotsa fraud to hide and cover up for their criminal friends………….!!!!!!.
hmmmmm…out with the frauclosure mill attorneys…..in with the accountants…and poof, their debt crimes are hidden from sight……..!!!!! Just eat it, you dirty criminal bastards….!!!!!!!!!
what has been lost in the media and on these sites is robosigning is not the only fraud the TBTFB committed. everyone has forgotten about appraisal fraud (#1 caused this whole fiasco), mortgage modification fraud. everyone has forgotten how so many of us tried to apply for a hamp loan and our paper work was repeatedly just “disappeared”, files “moved out of review” even though we qualified?, and of course the “we can not help you with a hamp loan unless you are in eminent default” and what does that mean mam? i should stop paying my mortgage? but i dont want to lose my house i put 20% down and worked all my life 12 hour shifts, nights days. are you sure? well can you please put that in writing. sorry but we cant do that. BAM
And people are not paying attention to the original mortgage fraud that a bank
is prohibited by our US Constitution to lend their credit.
Art 1 Para 10 Cl 1 ..no State Shall coin money nor emit bills of credit…
State Banks must follow the law and National banks must follow Federal Law
and Congress has never given the National Banks the right to lend their credit.
The mother of all fraud is the ORIGINATION FRAUD…..How many times can you sell an interest in a check that you already cashed and still collect money on that original check? ZERO…..OR YOU WOULD GO TO PRISON….EXOTIC AND COMPLICATED MORTGAGE DERIVATIVES IS WHAT THE MEDIA AND WALL STREET CALL WHAT THEY DID……IT IS REALLY NOT THAT WE ARE ALL TOO DUMB TO THINK ABOUT DOING WHAT THEY DID….WE KNOW IF WE DID WHAT THEY DID, AND GOT CAUGHT, WHICH WE WOULD GET CAUGHT IN NO TIME FLAT….WE WOULD GO RIGHT TO PRISON…….AND TO THINK THAT THE FBI BLEW THE WHISTLE ON THEM TO THE BUSH ADMINISTRATION IN 2004 AND IT IS STILL GOING ON TO THIS VERY DAY…. SPEAKS VOLUMES ABOUT THESE POLITICIANS….THEN AND RIGHT NOW…!! LOCK EM ALL UP!!!!…NO ONE IS ABOVE THE LAW!!
If we did what they did…we would have the S.S. at our door quicker than you could say heil hitler. A classic case of do as I say, not as I do…BULLSHIT….Its our money they use to commit all of their fraud in the first place…The whole system is an emminant front…its a put on…!
The U.S. GOVERNMENT ALLOWED THE NWO to use their perps who they knew we trusted, to set us up to fail, rob us of our wealth, blame us for their crimes… ..force all of us to pay them bonuses for doing it, … they are still being allowed to force us to pay for all of their debt fraud via the FEDERAL RESERVE…… they stole millions of homes they did not own and had no legal right to take……and they still are….it is way past time to move on Washington and We The People must demand that all of the politicians pack it up, they are all fired!!!!!!
Won’t make any difference. Servicers will hire their own slime to continue with the fraud and “mishandling of the paperwork”.
@talktotennessee There is s list. Someone posted it a couple of months ago. I am not sure it if was posted on this site or the Livinglies site.
This is why we are becoming a third world country. Complete fraud on the people and the big banks can do what ever they want, yet a simple american gets caught with mortgage fraud and inn they go. No charges for the banks or their attorneys. The system is fraud!
Need a list of the recommended attorney pool. Does anyone have one?
I mean the former Fannie-Freddie pool. Looking for Wilson and Associates out of Arkansas. They handle almost all foreclosures in TN and Arkansas.
“Mishandling paperwork”????? That’s a freakin’ joke.. The foreclosure mills committed flat-out FRAUD, and they did so WITH THE KNOWLEDGE & CONSENT of Fannie Mae & Freddie Mac, who are FOBS.
@albi see my post above about modification fraud i am devistated. to be hoodwinked into losing our houses. the company that pays derivatives or credit default swap should not pay. they should be forced into modifying these mortgages
“Mishandling paperwork”????? That’s an understatement. They committed flat-out
THANK YOU REP. CUMMINGS ! No REGULATION at FNHA of their Network of Foreclosure MIlls-191 FIrms that have been stealing homes should have been stopped years ago. Their excuse of “it is too expensive to transfer files” was such BS ! They continued to use firms that have been Investigated by many agencies yet NO AGENCY TOOK ACTION ! REGULATION AND ENFORCEMENT OF REGULATIONS IS ABSOLUTELY NECESSARY !
….think about it……these are companies that we own! They are stealing from us! Disgusting and absurd
i am utterly stressed and disgusted