I feel the need to examine the topic of mortgage fraud and other quick programming notes.

I’ll be making sure the Daily Bail makes it into our financial links when I get a chance to add to our links. Mr CLS has been linking it for quite some time on the Allstate board and it is indeed very good. For our newer readers I’ll add covering financial topics is not unusual for us, in fact we trace our root to the financial topic of insurance, which in turn cuts across a wide variety of subjects including espionage.

Let’s begin with this CNN report:

[youtube=http://www.youtube.com/watch?v=VF_vU7WZpUE]

US Representative Marcy Kaptur knows her shit folks and not because she is Carnac the Magnificent, rather because she knew almost 2 years ahead of time exactly what a true clusterf*ck the subprime mortgage market had become.

[youtube=http://www.youtube.com/watch?v=kYLLqoVqouU]

As a young Marine Corp brat I actually lived in Toledo long ago and still have family there. The people up in northern Ohio are both friendly and frank. Here Rep Kaptur tears up our crooked Treasury Secretary, Tim Geithner over his conflicts of interest while he made bail out decisions back in 2008 during the tail end of the Bush Administration.

[youtube=http://www.youtube.com/watch?v=uGczVEWKgl8&NR=1]

Finally Mr CLS poses the following question which I will paraphrase. Who is paying the insurance on the foreclosed properties, especially those backed by Fannie and Freddie? If it isn’t clear who owns what following the money may be a fruitful endeavor here.

A crooked sack of shit like Cedric Richmond does not belong in the company of such heavyweights IMHO.

sop

3 thoughts on “I feel the need to examine the topic of mortgage fraud and other quick programming notes.”

  1. Sop, I felt the need, too, but rather than do another mortgage post, I’ll piggy-back on yours:

    “How 2 civilian sleuths brought foreclosure problems to light” http://www.mcclatchydc.com/2010/10/13/101997/civilian-cops-take-on-beleaguered.html

    “More than a year before lenders, law firms and document companies began owning up to widespread paperwork problems with their foreclosure filings, Lisa Epstein and Michael Redman already knew that something was wrong

  2. Sop, normally the lender purchases very expensive insurance coverage if a borrower is in default and/or allows the insurance to lapse. It is in the borrower’s interest to maintain insurance on the dwelling. Now, when Freddie and Fannie become involved it becomes a “circle —-“.

    I just had a case this week where the largest private mortgage lender sold a mortgage to Freddie or Fannie. The insured is still in the house and paying the loan. There was a claim on the dwelling. Normal protocol is to make the check payable jointly to the insured and mortgagee. The mortgagee holds the funds until the repairs are made and they release the funds for the repairs. Well, nobody informd the carrier the loan had been sold and the carrier made out the check to the old mortgagee and the insured. This created a real issue for the insured as payment repairs are delayed because of the mortgagee incompetence.

    Based on this experience and knowing the incompetence of Fannie and Freddie they probably are holding mortages on many uninsured properties. The bottom line to that is you, I and everyone else who reads this board will be expected to pay for this incompetence.

  3. For MORE THAN 5 years, I have been blogging / telling about Louisiana mortgage and foreclosure fraud. I have posted facts and proof on my http://www.lawgrace.org website (some INFO is, from time to time removed for safety reasons). Several years ago, I even posted portions of pleadings and various excerpts from court transcripts that irrefutably prove deliberate aims to enable real estate scams. If there were such a Louisiana thing as LAW ENFORCEMENT, information about Louisiana mortgage could have long ago caused some people to be disbarred, others jailed, and others impeached along with Thomas Porteous.

    I have repeatedly stated that federal judges and lawyers are abetting Wells Fargo and Freddie Mac carrying out residential and commercial real estate frauds! The participating actors in foreclosure frauds in Louisiana are: federal Judge A.J. McNamara, federal Judge Lance Africk, federal Judge Kurt Engelhard, and federal bankruptcy Judge Douglas Dodd; as well as state court judge Lloyd Medley, assisted by Clerk of Court Dale N. Atkins and Civil Sheriff Paul Valteau. The attorneys are Paul Rumage, Herschel C. Adcock, Jr., and the Dean Morris Law firm. *Adcock and Morris are “foreclosure mills.”

    My PRIMA FACIE evidence awaits the opportune time for exposure to law enforcement who will do just that: enforce law. Since the “Louisiana Way” is tainted judiciary –and proud of it, it is not wise to supply mere ‘show & tell’ curiosity satisfying data. I’m just hoping and waiting for the reaping what’s been sown.
    ***************************************************************************
    This is the outline of how Louisiana foreclosure fraud occurs. I have res ipsa loquitur proof about these facts and the actors since it happened to me, but I have facts, evidence, information about others:

    Herschel Adcock used a defunct lender

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