Mortgage Fraud vs Foreclosure Fraud

by DanJS

When reporting or discussing the economic meltdown of our nation, let us please get it into our minds that Mortgage Fraud and Foreclosure Fraud are two separate crimes and focus must be given to the definitions of the two.

“Mortgage Fraud” is a long-established criminal act that must always be severely prosecuted…. but —

Our most pressing national mortgage-related problem is not mortgage fraud, but “Foreclosure Fraud”!

The “culprits” and the “victims” are different parties:

In Mortgage Fraud, individuals fraudulently manipulate real estate activities, sales and closings… The “culprits” falsify information to obtain loans to finance homes…. The “Banks and Lenders” are the “victims.”

With Foreclosure Fraud, it is the “Banks” and the “Wall-Street Lenders” who are the “culprits.”

Homeowners, local governments, pension funds, and other investors are victimized.

Banks are stealing homes from homeowners. They do this by suing for foreclosure without proving they have standing to sue and without presenting to the court proof that the “borrowers” have defaulted on an obligation owed to the party named as the plaintiff.

Bankers’ attorneys routinely bring forged and fabricated documents to court. They then submit perjured documents regarding factual information required by law and “rubber-stamped” by local judges who do not question either the documents nor verify that the foreclosing attorneys are actually representing who they say they are representing.

These same banks fraudulently by-pass local land records offices and illegally evade paying fees and taxes which could be providing much needed local revenues while leaving land records rooms with severely clouded property title chains! There are land recorders in our nation who have proclaimed the records rooms they are responsible for maintaining as a “scene of a crime.” ….Rife with document fraud the land recorders did not cause. Now they are the “stewards” of the mess that has resulted.

Every land recorder or Clerk of Superior Court of every county in this nation should work with their “commissioners” to obtain and initiate suits on behalf of the taxpayers of their counties to reclaim not only revenues that have been illegally evaded, but damages sufficient to correct the titles in their land records at least back to the end of the 1980’s.

Pension funds and other investors have been lied to by the “investment bankers of Wall Street” whose “offerings” were bolstered by suborned ratings agencies. As such, millions of Americans whose funds managers purchased fraudulent securities rated “AAA” have seen the value of their retirement funds reduced by 30-40% or more. Our national economy is in a shambles due to this one scandal alone!

We must re-frame the task of the “President’s Working Group.” The “committee chairs” must be told that “Mortgage Fraud” is not the foremost priority desired by the Homeowners/Voters of America.

What must be targeted as the highest priority is Foreclosure Fraud!

In every communication we initiate, those who are involved with this issue must clearly state the words “Foreclosure Fraud”!

[My favorite descriptor is “Fraudclosure,” but the nomenclature of the this vital issue must be re-framed to stipulate what the issue is. ]

Otherwise, millions of Americans will ultimately lose years of the fruits of their labors to theft by thieves and scoundrels.

Definitions of words are vitally important. Ayn Rand stated “Words have meaning!” The words we use daily direct the argument we are making.

Just as the “Banksters'” public relations folks have effectively created the proposition that there were thousands of people who created “Liars Loans” to “Get mortgages they could not afford!,” we must consistently counter (with accurate words) the notion that it is the homeowners who “Just want to get a free house!”

We must repeat with vigor and clarity that it is the “‘Banksters’ who “want a free house!” ..So much so, in fact, that they intentionally engineered a system designed to manufacture and create unjust results.

The very idea that a “tryer of facts,” any judge, who would proclaim that the bank may proceed when no legally certain, and verifiable proof of “standing to forward a legal case” exists by the foreclosing party… The very idea is repugnant, but these actions take place daily in American courts! Any judge that permits perjury in his or her court should be re-called by the citizen homeowners of his or her jurisdiction.

Where are the cases being filed that will hold judges accountable to the law they are sworn to adjudicate?

Where are the criminal indictments to hold accountable, fine, and incarcerate the “culprits” at every level of this “local to national” land fraud. At the very least, forgery, perjury, and false utterances by all parties (and their enabling attorneys) should be addressed. To the extent these crimes can be revealed and proved, the existing laws should be enforced.

For any District Attorney or Attorney General to say that there are not laws on the books to prosecute these crimes is specious and suspicious… it’s as though they hope to legislate new laws that will provide “wiggle room” for defendants to use to avoid massive fines or jail time. No future “financial settlement” should ever allow a corporation to “neither admit nor deny fault.”

And… for the millions of homeowners who live in “non-judicial states”… the real estate law of every state that prevent judicial review of foreclosure by local courts… those state laws must be overturned.

Indeed, “non-judicial foreclosure” was the first, foundational step of the “Banksters and Wall-Streeters” who engineered massive, unregulated, residential mortgages securitization, and the “MERS-Machine” that enabled the massive Ponzi scheme that must be unraveled!