U.S. Objects to Ocwen Buy of ResCap Loans
The U.S. is worried Ocwen Financial Corp. (OCN) won’t abide by a home-lending industry overhaul that was “designed to protect homeowners from future occurrences of mortgage-related abuse and fraud” when it takes over Residential Capital LLC’s servicing platform as part of a $3 billion deal.
Papers filed in advance of a Nov. 19 bankruptcy court hearing at which Ocwen will seek a judge’s permission to seal the deal say talks are under way, but for now the government plans to object to Ocwen’s acquisition unless Ocwen agrees to honor reforms agreed by ResCap.
Ally Financial Inc. also filed papers saying it is concerned about Ocwen’s willingness to honor the industry settlement, as well as a 2011 consent order with banking regulators.
Earlier this year, ResCap was one of the parties to a historical mortgage servicing settlement agreement with the U.S. and 49 state attorneys general designed to quiet allegations of systemic fraud in the home lending and mortgage servicing industry. The fraud ranged from misrepresentations to consumers to false filings with courts in foreclosure proceedings.
“These are matters of great concern to the U.S.,” lawyers for the government wrote in a filing with the U.S. Bankruptcy Court in Manhattan, adding the reforms agreed to by ResCap and other major players are “critical to protecting homeowners.”
More here…
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This is the underlying scam that the BANKS are using to foreclose today as it was when reported by :
FREDDIEMACCOMMENt
Florida Supreme Task Force on
Residential Mortgage Foreclosure Cases
The events as they happened
Administrative Order. The Chief Justice established the task force
in March 2009 by Administrative Order in the wake of dramatic increases in residential mortgage foreclosure case filings.
Petition. The original Petition to amend the rules of court was filed
with the Court on August 17, 2009.Comments were due by October 1, 2009.
/2010/05/13/response-to-the-florida-supreme-court-re-amendments-to-the-florida-rules-of-civil-procedure-motion-for-rehearing/
Comments from Robert E.
Bostrom Freddie Mac’s Executive Vice
President stated on
Recommendation regarding
verification of “ownership” of the mortgage.
“The Task Force has recommended a requirement for a plaintiff in
a foreclosure action to verify that it owns and
holds the note.
“Typically, the plaintiff in
a foreclosure action does not own the underlying note or
loan that is secured by the property subject to the foreclosure proceeding. Freddie Mac’s servicers initiate foreclosure actions in their names, even though they are
not the owners of the notes or loans in question, because they are the
mortgagees as shown on the land records (by fraudulent, fabricated assignments) and they are the holders (not
in due course) or
otherwise in possession of the (fabricated) notes. During foreclosure proceedings, our servicers and foreclosure counsel have authority to negotiate
and execute loan restructurings (against what the pooling and servicing
agreements state?) and
other foreclosure alternatives (trial
modifications that are ultimately denied) with borrowers as well as attend (pointless) mediation. To
require investors who do not service the loan to be a party in the foreclosure action and attend mediation would be costly
and unduly burdensome (because they do not even know it is in
default?), which may result in additional costs being
passed on to the borrower. The intended purpose of the mediation program
could be achieved effectively without this verification requirement.”
Robert E. Bostrom
Freddie Mac
Executive Vice President
General Counsel & Corporate Secretary
This has not changed in today’s envirenment
“the plaintiff in a foreclosure action does not own the Note or
Loan”
WE ARE FIGHTING THE SAME FIGHT EXCEPT THE PLAINTIFF IS FORGING
ASSIGNMENTS AND SWEARING AND DOING EVERYTHING THEY CAN DO TO SAY THEY OWN THE LOAN
WHEN WE GET A STATEMENT FROM FREDIE MAC’S VICE PRESIDENT WHO TELLS IT IN A
MATTER OF FACT WAY
REVEALING THE TRUTH TO THE WHOLE WORLD.
NEXT IS THE COMMENT FROM THE FLORIDA
BANKERS ASSOCIATION TO THE FLORIDA
SUPREME
COURT TASK FORCE ON FORECLOSURES.
“It is a reality of commerce that virtually all paper documents related to a
note and mortgage are converted to electronic files almost immediately after the loan is closed. Individual loans, as electronic data, are compiled
into portfolios which are transferred to the secondary market,
frequently as mortgage-backed securities.”
“The reason “many firms file lost note counts as a standard alternative pleading in the
complaint” is because
the physical document was deliberately eliminated to avoid confusion immediately upon its
conversion to an electronic file.”
___________________________________________________________
THE FLORIDA SUPREME COURT IS FEBRUARY 11, 2010 On February 11, 2010, the Florida 2.140 (D)
Supreme Court Amended Rule 1.110(b) as well as Form 1.996(FinalJudgment of Foreclosure
Form).The Amended rule 1.110(b) was amended to
require verification of mortgage foreclosure complaints involving residential real property. The primary purpose of the Rule change was as follows:
(1)To provided incentive for the plaintiff to appropriately investigate
and verify its ownership of the note or right to
enforce the note and ensure that the allegations in the complaint are accurate;
(2)to conserve judicial
resources that are currently being wasted on inappropriately
pleaded “lost note” counts and inconsistent allegations;
(3)to prevent the wasting of judicial resources and harm to defendants
resulting from suits brought by
plaintiffs not entitled to enforce the note;
(4)to give trial courts greater authority to sanction plaintiffs who make false
allegations.
in a Verification of Debt to verify GAAP (Generally Acceptable ACCOUNTING PRINCIPLES) sent to the ALLEGED LENDER To prove if they are the REAL PARTY OF INTEREST STATES:
‘plaintiff did not stipulate via affidavit that they are in
fact a Creditor in this loan/security instrument. A creditor needs to show true
accounting debits of the loss as a result of the issuance of the loan to
defendent according to Generally accepted accounting principles (GAAP)
Purchasing distressed Properties that have fatal breaks in Chain of title
cannot be undone and lead to RESPA AND TILA VIOLATIONS.
Since THE BANK
CHOSE TO HAVE A DISTRIBUTED PARTY OF INTEREST SCHEME TO AVOID PAYING TAXES TWICE.THE BANKS PUT THESE LOANS INTO SPV’S(SPECIAL PURPOSE VEHICLES)
THIS IS COVERED
UNDER INTERNAL REVENUE CODE
860, THIS WAY ONLY THE SHAREHOLDERS ARE TAXED CALLED A PASS THROUGH FOR SPECIAL PURPOSE VEHICLES.
That brings me
to my petition for verification of debt on march 16,2014 asking for the
plaintiff to prove that the lender as a CREDITOR and Owner in due course SHOW TRUE DOUBLE ENTRY GENERALLY ACCEPTED ACCOUNTING
PRINCIPLES (GAAP). AND SINCE THE
SHAREHOLDERS ARE THE ONLY ONES TAXED THEY ARE THE REAL BENEFICIAL PARTIES IN INTEREST.GMAC IS NOT THE REAL PARTY IN INTEREST AND NEITHER OCWEN OR GMAC HAS NO STANDING TO FORECLOSE ON THIS PROPERTY,BUT THEY DO IT ANYWAY BY DECEIT AND THOUSANDS OF OTHER PROPERTIES ARE FORECLOSED ON THE SAME WAY.
To the extent
that the plaintiff has been paid on the underlying obligation or has no legal
interest therein or in the note or mortgage,or does not have lawful possession
of the note or mortgage, plaintiff’s allegations of possession and capacity to
institute foreclosure constitutes fraud upon the court.
THEN LOOK AT THE DEFINATION OF iRC 860 AND FAS 140 AND WHEN YOU PUT THAT TOGETHER WITH GAAP YOU WILL SEE THEIR SCAM
I FOUND A WEBSITE THAT GOES OVER THE STEPS THAT SHOW THE SCAM
THE WAY THE BANKS DECEIVE THE COURTS ,THE JUDGES AND THE BORROWERS
AT : :www.ohiomortgage review.com/history.html
LOOK FOR THE KEY TERMS FAS 140 AND iRC 860
My mortgage was also sold to Ocwen by GMAC. I wasn’t notified, nor did I get a “welcome” letter from Ocwen. They just drafted my account TWICE for the 1st month on the 1st and 7th. When I called customer service, the agent said he would reverse the 2nd draft. That he did! but the money didn’t go back into my account. Now I can’t pay the rest of my bills for the month.
I have an excellent credit score, never been late on any bills or payments with anyone. Why am I being treated like this?
We to have Ocwen for our 2nd mortgage now taken over from GMAC.Ocwen is terrible to get thru to routes all calls to overseas call centers.Please be warned neither company has been applying our payments correctly and I wonder what can be done.Please e-mail suggestions to kennethw34@yahoo.com.PLEASE LISTEN TO MY WARNING THESE COMPANIES ARE CROOKS NOT OUT TO HELP THE HOME OWNER AND WILL SCREW YOU OVER ANY WAY THEY CAN EVEN IF IT MEANS BREAKING THE LAW!!!!!!!!!!!!!!!!!!!!!!!!!! DONT EVEN CONSIDER THEM FOR ANY LOANS. THANKS FOR LISTENING. Ken from Wisconsin.
OCWEN is horrible. My loan was sold to them about 2 yrs ago. I have had them twice for a mortgage co. and you can never get ahold of them. They wont work with you on payments if you are late. I tried to do a loan modification and that was a nightmare. They only wanted to reduce my payment by 20 dollars a month then add all kinds of other charges for misc stuff. I finally did a short sale on my home and i have never been happier. They are crooks…
AHM, AHMSI, HOMEWARD, OWCEN WILBUR ROSS ON THE BOARD OF DIRECTORS FOR OWCEN, HOMEW WARD MERGED WITH OWCEN YOU CAN FIND IT IN THE SEC, AS SO ALITISOURCE The company who will come and take your home, Owcen is all the same,they are a bigger scam, Owcen now is my servicer, March 11 2013, I already have issues with Owcen, I have a file OPEN WITH THE TX ATTORNEY ON HOMEWARD, AHMSI, AMERIQUES, CITIMORTGE, and I filed complaint in March 19 2013 with the FCPD, and has now moved on, the next hands, now I have to start over and send All I Sent to Homeward the WQR, and the prof of Fraud, and assignment notary fraud, these third party service are debt collectors, they are not a lender, and most of us do not have a lender we have investors.. These servicers change often they also change loan numbers . I will never claim to owe money on a loan number where I did not sign a contract, never.. when these many debt collectors change the loan numbe they then securitized , what money making scam..
My loan was GMAC. Now it is Ocwen. They have now autodrafted my mortgage TWICE and are refusing to refund me one of the payments. They have also mysteriously charged me a late fee of $60 for non-payment, while they have taken more than $2500 of my money in the last 10 days. Fraudulent doesn’t even BEGIN to cover it. What can I DO??
I truely think it’s time to take these SERVICE COMPANIES AND START CLEANING HO– USE THE ONE THAT DO NOT PLAY BY THE RULES ARE OUT. All CEO Officers that have a hand keep the homeowners in DEFAULT need to spend time in JAIL. I don’t CARE how much money they have or what crook they have a ATTORNEY. Maybe they need to be the in Courts
and face some of these people. And until we make these service companies accountable IT’S NOT GOING TO STOP.
Sounds like something fishy is going on.If I didn’t know better I’d think someone is trying to monopolize but thats illeagle isn’t it?
Didn’t Ocwen just aquire AHSMI/Homeward Residential? What is going on??? Anyone?
yes.. Owcen merged with Homeward if you find them in the sec, you will see they merged also you will see how this scam is working and Wilbur Ross who owned AHMSI, AHM, is on the borard of Directors OF OWCEN, they are all the same ceo, Wall st, all they do is move around the tabel and change chairs, for most states the statute of limataions for a debt colloctor is 4 years, this is why they change chairs and names yet they are the same, owners scamming the homeowner, and money laundering to India Japin or a corporation locaton out of the USA tax free, when they change you loan number that new number will get securitized I know this for fact, can show it my original loan is asset back pass through 2002-12, DBNTC-AMERIQUEST, HOMEWARD, AMC, AHMSI, NOW OWCEN, my homeward loan number was securitized in at least 5 trust, if you look on your 1098 you will find the fedID NUMBER.. google that number when I did the Homeward fed idnumber took me to the SEC EXCHANGE COMMISSION STATE OF WASHINGTON SITE, this is how I found AHMSI, AMC, HOMWARD,has securitized under the new loan number, I thinks is sec fraud, becasue I am alread in a trust or many as asset back pass through 2002-12, DBNTC-for certificates series 2003-12 trust DBNTC, AS THE TRUSTEE FOR ..
its all fraud.. all of it.. securitiztion of loand is a way to money laundry,
How do we get rid of ocwen?