The Sophisticated and the Scammed
Each time an investor group or shareholder sues a financial institution for MBS damages, the financial institution files a response stating the investors “were sophisticated investors who knew or should have known of big problems.”
We are beginning to uncover and expose continuing scams, fraud, and theft (hint: monthly renewing statute of limitations).
The MBS trusts’ accounting is as suspect, invalid, inconsistent, and outright fraudulent as are the real estate documents fabricated by document mills.
All eyes are on the Pino v BoNYM as trustee of CWALT 2008-oc8 (BoA servicer) fraudclosure case. The FHFA, regulator of Freddie Mac which owns class/tranche 1A1, claims all manner of origination, underwriting, appraisal, loan-to-value, and ratings fraud in their suit against Countrywide (here), and also tranche 2A2B was such a “toxic asset” that it was purchased by the Fed at 100 cents on the dollar and dumped into Maiden Lane II.
After Roman Pino’s fraudclosure defense lawyer at Ice Legal uncovered and exposed massive fraud in the lower trial court, Palm Beach County’s 15th Judicial Circuit, Bank of New York Mellon as Trustee and their fraudclosure mill attempted to slink away by voluntarily dismiss the case while they filed a new case with newly fabricated fraudulent documents.
Ice Legal said, “Not so fast! We insist on a hearing to review the evidence so the judge can dismiss this case to avoid the new fraudclosure case from going forward.” But the lower court judge ruled that it is perfectly acceptable for fraud to be perpetrated on the court as long as the fraudster voluntarily dismisses the case once the fraud is exposed. Ice Legal brought this issue up on appeal. The bank friendly puppets in Florida’s 4th district court of appeal didn’t want to touch this case with a ten foot pole. The appellate judges allowed the lower court decision to stand but turfed up the the case to the Florida Supreme Court stating that fraud was rampant and an issue of great public importance.
BoNYM (BoA servicer) freaked out because, unlike Florida’s lower and appellate courts, Florida Supreme Court is not a sure bank puppet operative. So, the case was “settled” with a confidential agreement. Both the fraudclosure mill and Mr. Pino’s lawyer notified the Florida Supreme Court that the case had been settled and both parties were requesting the case to be dismissed.
The Florida Supreme Court Justices, acknowledging the public importance of foreclosure fraud, decided to keep the case alive. (Can you hear BoNYM & BoA howling in protest?)
While the settlement with Mr. Pino is confidential, we do know that a satisfaction of his mortgage was recorded in the public records in July 2011 (below).
Despite the fact that this mortgage “asset” no longer exists, the trust is still claiming this mortgage as an asset as of the Jan 2012 investor report, charging all sorts of fees, including monthly servicing fees, etc.
Our research has uncovered other non-existent “assets” on the books of this trust. To put this in perspective, at the origination of this trust there were 6,734 loans of which 61 were originated in Palm Beach County. As of the Jan 2012 investor report, 29 of the original 61 Palm Beach County loans remain on the trusts’ books. Only ONE is performing as originally contracted at closing. Three others have been modified; one has a $39k forbearance, one has a $8k added to principal, one has $16k added to principal. The other 25 loans are non-performing. (As of Jan 2012 report, total left in the trust 2,921; of the 2,921 left 1,187 are non-performing (delinquent = 237, bankruptcy 188, foreclosure = 512, REO = 250) but we know this data isn’t correct, so….)
Some “non-existent” loan examples from the trust
Roman Pino loan #130133456 – $162,400 – (July 2011 satisfaction – still on the books in Jan 2012 trust report in “foreclosure” status) [3764 Mil Run Court, Greenacres, FL 33463] – BoA monthly servicing fee for non-existent mortgage $50.73
Samantha Woodruff loan #130521936 – $171,940 – (Sept 2011 deed from trust REO to new buyer – still on the books in Jan 2012 trust report in “REO” status) [1497 Lake Crystal Drive D, West Palm Beach, FL 33411] BoA monthly servicing fee for non-existent mortgage $33.70
Robert Rodriguez loan #130450231 – $176,542 – (Sept 2011 short sale deed & Nov 2011 satisfaction – still on the books in Jan 2012 trust report in “REO” status) [1139 Lake Terry Drive 60L, West Palm Beach, FL 33411] WOW – BoA monthly servicing fee for non-existent mortgage $181.69
Elsa Castillo Rivas loan #130445815 – $375,000 – (July 2011 short sale deed) – remained on books through Dec 2011 in “REO” status), finally reported as “liquidated” in Jan 2012 report [13918 Preacher Chapman Place, Centreville, VA]. WOW – BoA monthly servicing fee for non-existent mortgage $328.04
This is just a small example of what we are uncovering. If we learned anything from the robosigning scandal, if there are more than two “irregularities,” there are thousands.
More examples from other trusts to come.
We feel comfortable saying that this is widespread…
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4closureFraud.org
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| Date | 07/29/2011 |
| Amount | $230,000 |
| Seller | CASTILLO RIVAS ELSA M |
| Buyer | GRANO PAUL |
| Notes | Valid and verified sale |
| Deed Book and Page | 21776-2185 |
Keeping paid off loans on the books and replacing them with phony loan numbers from “sample contracts”… see how many of these bullshit numbers you can find in bloomberg lol
If I may be of some help here.. ehm!! pay attention now because I am about to hand you a big tube of vasoline for you to use on these bastards.. you just be sure to provide your own sand paper condoms to go with it when you bend them over!
lawinsider.com the honey pot of shit! phantom loans and milled up docs!!
[…] reported on 4closureFraud well over a year ago here, here and […]
While all this is true, the real question that we are still awaiting a jury trial to find out is how you change a negotiable instrument into a security instrument and back again while SEC and IRS law states that you can’t do this. You can change it once, but not back. So we have all these millions of loan notes that have been changed to security instruments, sort of like stocks or bonds, but now are being used by the crooked banks and servicers as a means to foreclose on property that was to be secured by negotiable instruments. HMMM. The lower court judges don’t even understand this issue. But maybe one day one intelligent judge will arise to slay the monster with one decision.
It was all a giant ILLEGAL…scam and a giant ILLEGAL fraud…FROM THE FRAUDULENT INDUCEMENT AND THE FRAUDULENT SALES…..ALL OF .those MBS TRUSTS WERE AND ARE A MASSIVE CRIMINAL ELITE WORK OF FICTION……THAT NEVER EVER EXISTED…..AND SO ARE THE MBS’S AND ALL OF THE DERIVATIVES THEY SOLD….A GIANT SCAM…..AND A GIANT WORK OF ILLEGAL, FINANCIAL AND CRIMINAL FICTION….!! MWAHAHA…!! TELL THEM TO ASK THE SEC OR THE FDIC….THEY KNOW THE TRUTH IS IT WAS ALL A MASSIVE FRAUD AND A MASSIVE SCAM….AND ALL OF THEIR INVESTMENTS WERE A MASSIVE, ILLEGAL SCAM AND A FRAUD AND ALL OF THE INVESTORS GAMBLES CRAPPED OUT THE DAY THE ILLUMINATI INTENTIONALLY CRASHED THE STOCK MARKET BY INSIDER TRADING IN 2008……….SEE THE YOU TUBE VIDEO ENTITLED…CNBC SAYS….THE ILLUMINATI CRASHED THE STOCK MARKET….!! IF I WERE THE INVESTORS….I WOULD PERSONALLY FIND OUT WHO ALL OF THESE CRIMINAL DEFRAUDERS ARE AND SUE THEM OUT OF EXISTANÇE…….THEY CAN START BY LOOKING FOR RELEVANT, LEGAL INFORMATION FROM THE SEC, THE FDIC AND MOVE ON TO SUBPOENA AND CRIMINALLY INDICT HANK PAULSON AND THE U.S. TREASURY DEPT AND THOSE WHO WERE RUNNING THE FEDERAL RESERVE UNDER CLINTON AND BUSH AND THEN SUBPOENA AND CRIMINALLY INDICT OR JUST SUE THE GSES AND THE IMF….BECA– USE THIS MASSIVE FRAUD BEGAN WITH THE ILLEGAL AND FRAUDULENT — USE OF OUR SINATURES AND THE SMELLY TRAIL WILL LEAD THEM ALL THE WAY TO THE WORLD BANK…THE INTERNET SHADOW BANK AND MERS AND INSIDE OF THAT THAT…THEY WILL FIND THE HEAD OF THE BEAST HIDING…..THE WIZARDS BEHIND THE FRAUD CURTAIN…..THE SMOM/VATICAN/JESUIT/ROTHSCHILD CRIME SYNDICATE…..THE REAL OWNERS OF ALL OF THE FRAUDULENTLY INDUCED SECRETS, LIE, DECEIT AND FRAUD….THEY SHOULD DO THEIR HOMEWORK…AND GO AFTER THE REAL CRIMINALS WHO ROBBED THEM….BECA– USE THE AMERICAN PEOPLE DONT HAVE THEIR STOLEN WEALTH….THESE CROOKS COMMITTED THESE VERY SAME CRIMES AGAINST US …EXPONENTIONALLY..WITH THE SAME AGENDA…METHOD AND FRAUD…ALL IN ORDER TO ROB, FINANCIALLY RAPE AND PILLAGE ALL OF HUMANITY….!!! OFF WITH ALL OF THEIR CRIMINAL HEADS….!
Excellent report – Well done!!!!!!
Amazing fraud scheme – they steal and commit fraud upon the homeowners THEN turn around and steal from the trust (e.g., charging servicing fees for non-existent home loans).
Where are the regulators on this? Oh yeah…what was I thinking.
Nice work! Way to bust them!
NO ONE IS SAFE FROM THE EVIL NWO AGENDA….NOT EVEN THE NWO THEMSELVES….! ALL OF THEIR EVIL BEHAVIOR IS SET TO SELF DESTRUCT AND BLOW UP IN THEIR EVIL FACES….AS THE TRUTH IS SLOWLY REVEALED ABOUT ALL OF THEIR EVIL PLANS FOR MANKIND……THE TRUTH WILL SET US FREE.!!!
The stuff is hitting the fan (SF Property Appraiser Ting, Pino, now finally some word about MBS) and our elected officials are preparing to rubber-stamp these practices. Now I understand why the investors were not heard from while the AGs settled away our rights. I do not think the proposed legislation in Tallahassee will stand up on appeal, but the destruction to displaced homeowners will be swift and likely permanent while the litigation weaves its way around the courts. Hopefully some judge will do the right thing and place an injunction to mitigate damage. I know this is off topic, but I too am so tired and frustrated to hear about the vastness of this “sloppy paperwork” while every branch of our government not only turns a blind eye, but assists them!
Great investigative work 4closurefraud!
Bank of New York Melon, did they not take over Safra just after Mr Safra was killed in a fire in his penthouse? What is the law in Florida regarding returning notes/mortgages to the buyer after it is paid off or refinanced? And what is the law regarding the recording of these satisfaction?
I agree with you, Ali, that is what I have been saying all along. Am watching closely a Quiet title case in Florida. I believe that BOA is holding some ‘satisfied’ loans from either complete pay off or refinances on their books that should not be there. I said this the other day. There are notes floating out there that were never returned to the owners and still showing as assets to these banks….more exposures/disclosures are yet to come also as I predicted.
I also believe that insurance fraud is rampant where these fraud-closures are concern…what happen to these mip and pmi insurances? Also the forced insurances by companies owned by the banksters or the servicers…and how soon after the property goes into delinquency do the insurance protection kick in for the banks/servicers/ investors?
Did someone say that a delinquent loan has to be removed from the trust account? And that it cannot be transferred into another Trust account due to its delinquent status? What about those mortgages that were considered portfolio loans? Does that mean they never went into a trust? How are those dealt with in foreclosures? If they were portfolio loans, then how were they serviced? Or does it mean they were serviced in house but sold to investors? Thanks in advance for you answers.
Thats some great work 4closurefraud, my question is how did you guys get this very detailed information about the trust and which loans are still showing on their books. That is something that the rest of us could really use! I would greatly appreciate if you can post the steps taken to obtain such info. Thanks in advance!
great work, great story and again BOA. please someone answer this what about all the assets that they have walked away from because they do not have enought value to foreclose? They just walk away from them.
i WOULD LOVE TO SEE A STORY ON HOW MANY HOMES BOA HAS FORECLOSED ON BY MISTAKE. BECA– USE THEY DO NOT LISTEN AND CANNOT READ A LEGAL DESCRIPTION.
great investigative work.
fraud built upon fraud, built upon fraud.
all defrauded homeowners should have their mortgages satisfied.
Thats exactly what happened to us. The un-dying morgage that keeps coming back to life. Everybody making money on our home except us. I am so fed up with this I’m ready to take it to the steets!!!!!!! Everyone homes have been paid over and over again, and should settle for nothing less then a free and clear title. They can stick that settlement right up their …… By tring to settle with the banks alone proves that fraud existed. Now they should start the aduts of all their books and see whats really there.