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Green Mirage scammers have impersonated more than 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners, many of whom only learn of the fraud when ...
On July 18, 2011, the Associated Press and Reuters [18] released two reports that robo-signing continued to be a major problem in U.S. courtrooms across America. The AP defined robo-signing as a "variety of practices. It can mean a qualified executive in the mortgage industry signs a mortgage affidavit document without verifying the information.
This provides an incentive to unscrupulous servicers who aggressively interpret mortgage documents to add additional fees [5] to a borrower's mortgage account. Many times, the additional fees added on create an event of default allowing the mortgage servicer to foreclose on the property. This practice is commonly referred to as manufacturing a ...
Lend America was an American mortgage lending company based on Melville, New York that operated until it was closed in 2009. The company used cable television infomercials and toll-free numbers to promote its services which include refinancing of mortgages with fixed-rate loans guaranteed by the Federal Housing Administration .
Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America (BAC). If what one bank employee said on the stand proves to be accurate, paperwork problems ...
The Federal Trade Commission has mailed refund checks to 1,410 consumers swindled by Home Assure LLC, a mortgage relief scam that charged consumers an upfront fee to save their homes from ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
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