Lorraine Brown Goes Down
By George Mantor
Apparently, it is unlawful to just make up documents in order to steal houses. Who knew? But, she only did it a few million times. C’mon man!
So the headline might have read something like this…
“Former CEO of Forged Document Purveyor to the Star Bankstas Pleads Guilty”
I pondered the implications of this admission and waited for the corporate controlled media reporters to rush in waving stories about how one company, a Lender Processing Services subsidiary, DOCX, conveniently bridged the gap between bankstas that wanted to foreclose on a property and the small, as it turns out, hurdle of that banksta possessing no legal right to do so.
I am a little surprised that she pled guilty. Her admission is one that taints the proceedings of all of her customers in a way that denying the charges and being found guilty would not have.
I would have thought that the bankstas would have silenced her with an offer she couldn’t refuse. Like they did one of the notaries in this case, Tracy Lawrence. Lawrence was a notary for Lender Processing Services who was found dead in her home after admitting to forging over 25,000 documents used to deprive people of their homes.
If, rather than pleading to charges, Brown had been convicted, superior courts could still resist based on out of state law. But, an admission is an entirely different matter. How does the court get around the problem that the documents being used in your foreclosure are not only obvious forgeries attesting to things that never were and never could have been, but that were created by a firm that admits they forged documents for a fee? Price list attached (below) for your enjoyment. That is how blatant fraud has become in our society. They had a price list.
The very popular IA03, Create Missing Intervening Assignment, the piece de résistance of the fraudclosure document repertoire, could be had for a mere $35.00 plus shipping and handling. What a bargain! And, you thought fraud was hard.
If the first fraudulent assignment doesn’t pass the smell test there is a form for that, the IA05, Cure Defective Assignment, $12.95.
As I wrote years ago, anyone can foreclose on anyone. The waves of foreclosures we are seeing today are largely being manufactured so that the pools of loans will exceed their legal default threshold, and big banks will reap a windfall on massive insurance payoffs.
Default of the pools was always the end game. As the banksta, you could take money you knew you would never need to pay back, and pay yourself a bonus with it then declare the pool in default and collect on the credit default swaps.
LPS enabled servicers to foreclose on loans that weren’t really their loans to begin with.
Brown pled guilty in Missouri, Michigan, and to Federal Charges to organizing and operating a nationwide forgery ring that filed more than one million fraudulent documents in county land title records and in court cases. Based on every admission emanating from this group, this will prove to be an extreme under exaggeration.
And, I’m betting her firm wasn’t the only one doing it.
Up until now, most judges have simply ignored existing laws which would prevent fraudclosure reasoning that even though the documents are all obvious antedated forgeries that are destroying our land title records and needlessly ruining people’s lives, the borrower is a deadbeat, so it doesn’t matter.
But, it does matter and it isn’t true. What right thinking, informed person has any respect left for our legal system? Bring back “The Ordeals”; at least you had a fifty-fifty chance as they tended to exonerate the guilty about as frequently as they convicted the innocent.
Today’s foreclosure courts are the exclusive domain of banksta attorneys who bring cases before judges who used to work for the banks that are foreclosing. These judges then go back to public practice at the fraudclosure mills that pose as trustees, (appointed by themselves) and file the fraudulent paperwork provided by Lorraine Brown, DOCX, and Lender Processing Services.
She got two years in Missouri and may get another twenty in Michigan. The short sentence received would suggest that she will be cooperating which does not bode well for those financial institutions that turned to DOCX for authentic looking forgeries with which to deceive courts and get free houses.
The people who prosecuted Brown still don’t get it. Anyone could do what she did. Servicers could have made up their own phony documents, and often did. This was a layer of plausible deniability; a fire wall.
The practice of robo-signing continues unabated because there are no valid documents. They were pledged in spirit only to multiple pools with no identifying information such as a loan number, borrower’s name, property address, or parcel number; just a zip code, a loan amount, and the monthly payment.
Loans needed to fail because the pools needed to fail to disguise the fact that the assets securing the bonds had been pledged in pools over and over again or didn’t even exist. There never were enough loans to complete all the pools. Out on the street, sweaty hustlers were barging into legitimate mortgage brokerages and offering money for files that had been turned down. Get it?
When that didn’t work to fill the hungry maw for more loans they just stated making up borrowers.
I think the former head of mortgage giant Taylor, Bean and Whitaker, Lee Farkas said it best when he boasted, “I could rob a bank with a pencil.”
At the tail end of the fraud Lender Processing Services robs people of their homes with high quality scanners and photo-shop.
At the very time that they are robbing homeowners they are also robbing their investors and their country.
This isn’t over. What no one has yet to figure out is that the forged assignments that put loans into pools after they are in default and long after the closing date for the pool to receive loans destroys the tax advantages of the investment and puts the loss back onto the investor.
Real Estate Mortgage Investment Conduits, (REMICs) are given special tax treatment if they conduct business according to a strict set of rules. The rules have never been followed and the REMICs are not properly constituted to receive the very tax advantage for which they were formed in the first place
The IRS could add billions of dollars in revenue by enforcing the tax consequences on the failed pools of loans. And all they need are the documents produced by Lorraine Brown when she worked for LPS.
Price list below…