Mortgage Servicers' Secret

[Grandmagotrunbyfargo]

YouTube: grandmagotrunoverbywellsfargo

They stole my money!!! I'm fighting back!!!

[horvathkft]

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[attorneychristine]

We litigate these accounting issues in bankruptcy. Servicers will never correct this because of the profits!

[troybrownrigg]

Investors lost their butts, All over greed! IS EMC still in business!

[pttugasuk]

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[whotaughtyou]

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[braindeadhick]

THe other thing they like to do is to fraudulently induce homewoners who inquire about modifications to go into default . They tell the homeowner they can get a modifiaction if and only if they default . Then they tell them the modifiaction is comeing and then foreclose .

They make about 500 bucks if they modify and 6000 if they foreclose . parasitic greed head scam .

They make 500 dollars if they modify and 6

[jknapps]

@braindeadhick : WOW... that is EXACTLY what happened to me!!! I'm still fighting them after they have added $40,000 in late & legal fees. They basically stole all of my equity away from me.

[LetsCook2gether]

@jknapps

w w w . consumerdefenseprograms . com

[Saintboss]

santiago... you really sound like a fool or an investor. As much dirt as these banks are doing and as much dirt as investors are known to do... i will believe her before i believe any institution such as a bank who will tell you .. "consumers are our best interest". I guess when you lose your house (if you have one) youll blame it on WarCraft.

[concordbdance]

the student loan companies, including EDFUND do the same thing to poor former college students as well. Legalized piracy!

[ANYSIA000]

I saved my home by goin to [icansuemylender . com] the resaon the website name is separted is youtube wont let you post web sites, but this really work you should check it out if your in trouble and need a way out. Fill out the form on the website and you will receive and email or call the next with the help you need!

[rvdamon]

THIS LADY SPEAKS THE TRUTH! I HAVE A LOAN WITH CMC. THEY ARE DECEPTIVE AND OUT RIGHT THIEVES. PLEASE DO NOT DO BUSINESS WITH THEM. I HAVE AN ATTORNEY SUING THEM NOW. THEY LIE ABOUT WHAT EVER HELPS THEM. THEY LOOSE PAPER WORK NO MATTER HOW YOU SEND IT, REG MAIL, FAX, EMAIL, YOU NAME IT. THEY WILL TAKE YOUR HOUSE IF YOU LET THEM GET AWAY WITH IT. BELIEVE ME STAY FAR AWAY. THEY WILL BE EXPOSED FURTHER. STAY SAFE

[rvdamon]

THIS LADY SPEAKS THE TRUTH! I HAVE A LOAN WITH CMC. THEY ARE DECEPTIVE AND OUT RIGHT THIEVES. PLEASE DO NOT DO BUSINESS WITH THEM. I HAVE AN ATTORNEY SUING THEM NOW. THEY LIE ABOUT WHAT EVER HELPS THEM. THEY LOOSE PAPER WORK NO MATTER HOW YOU SEND IT, REG MAIL, FAX, EMAIL, YOU NAME IT. THEY WILL TAKE YOU HOUSE IF YOU LET THEM GET AWAY WITH IT. BELIEVE ME STAY FAR AWAY. AND GOD BLESS.

[santiago62521]

Unfortunately this video is incorrect. Furthermore this so called ex-employee is literally talking out of her ass. Maybe step one would be to educate yourself in the field of investors who back these loans and less pointing the finger at the banks. Secondly, use common sense. How would a person, much less an institution benefit from someone not making payments on any loan? Think about it dumbasses, although fees may pile up, it means shit until they start getting payments from that borrowe

[ALR6002]

@santiago62521

You are seriously confused.

[videocommenter67]

@santiago62521 Wow, not real bright are you : /

[farmboycarl]

This is a nicely produced video, but it totally fails to mention why the banks encourage defaults. Sure the loan servicers earn a few servicing fees, but that's peanuts. The real pay-off comes from $55 TRILLION in credit default swaps that were purchased against these loans. These are illegal insurance policies written to pay off if your mortgage defaults. That creates a hell of a lot of incentive for holders of the "swaps" to pollute the waters of the housing market. Think about it.

[spectrum0590]

This is really hilarious. Like the way the video presented.

[charkee1]

If we all have the integrety of this lady, they wouldn't be able to screw us. I'm pround of her.

[bxccapricorn]

i agree with her but u made a promise so u should keep it but for starter we shouldn't be dealing or paying or promoting interest be it for muslims or christians its totally prohibited but i tink in the bible there is nothing bout usuary cuz it was removed.

[ifginc]

Integrated Financial Group is that name that you have been looking for getting the best mortgage plan to suite your wallet and wishes.

[stemborowski]

google paul stemborowski

[ShowdownInAmerica]

Show me the note! h ttp://action.seiu.org/page/spe­akout/wtnnpa

[ouluvme2]

THIS IS CRAZY



[TheRenaissanceYngMan]

home sales have been down lately ... and some people have strategically defaulted on their mortgages

[watkins35146]

i got a solution, fuck the bank and deal with an individual owner that owns the property and buy it from them. thats what we did and we havent got fucked!!!

[searching4answers100]

This is why so many people fuck up the house when the house goes into foreclosure. I say fuck it up so bad that it will take them years to sell it. File bankruptcy, chapter 7.. So they can't get the deficiency. Since Obama knows this and isn't doing anything to stop the greed, fuck that house to the ground and walk away.

[loanhomewealth]

Good stuff

[bofalawsuit]

Great Youtube.  I have actually started piggybankblog com for all those who were abused by Bank of America or Countrywide.

John Wright

Piggybankblog com

[bankslayer]

I wish I had a quality whistleblower like this lol - any NAB employees willing to come forward let me know :)

[silentmajor]

fucking crooks

[heartuvgold]

Make them produce the original note signed by you. If they sold it, they won't be able to do that. So you win your house back and can stay there until you're able to pay it off.

[sneakmysnake]

Even when one of these lenders goes bankrupt there are banks making money on that as well. All of this is about making money while it looks to the public as though they are not. Example, One West Bank bought Indymac's loans now garanteed by the govt for 80% of the orig loan amount. Even as they got a discount on the cost of the loans they bought. They then sell the defaulted property to an invstor. The govt pays them 1st for the "loss"and the investor pays them 2nd for the house.

[justtojk]

this video is a crock of shit, maybe you should see that homeowners are underwater on their mortgage by 50%a house mortgage for 300k now worth 175 it cost a bank thousands to foreclose so losing a few hundred a loan does not make a profit

[MarkMillionaireGuru]

Hi consumerwarningnet

I have just been watching your video and I must admit it really is very good.

I really enjoyed watching it.

Already looking forward to more of the same in the future.

Cheers to your success.

Mark McCulloch

[tapeatsbill]

These guys are right. I was a lender, asset (REO) manager for big banks for 20years.

When Wall Street teamed with the banks and securitized these loans they screwed the public but they also left themselves open to real valid foreclosure defense.

Good news to the people for a change.

[Anothercoilgun]

Henderson is a hero.

[jsnip4]

If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered .

-Thomas Jefferson

[nucsol]

OCWEN Scumbags

[knotart]

THANK YOU FOR EXPOSING THE TRUTH ABOUT FORECLOSURES !

so sorry that it will not help those of us being put put on the street !

[Patternpop]

God love you.

[NoticeOfDefault]

truly an eye opener

[illegalfuture]

Ok i understand what she has been saying but my question is "is this still the case with the houseing martket down....?'

[knotart]

YES IT IS !! STILL THE SAME OLD BS

I have been COUNTRYFRIED and like refried beans Fried again by BANK OF AMERICA

IT IS ALL A HUGE SCAM from TARP to

HUD/HOPE all the so called Loan Servicers are actually collection agents

or Legal Firms to protect the Banks.

Just online today you can buy a poisionus FEMA Trailer for $5.00 and try to park it somewhere ? when you lose your home.

[barbiemouse]

Wow such great info. I have been fighting with Litton for 2 years now with wrongful foreclosures and all. Got my title back but of course they are doing again. This is very important to get out there and I applaud you for ALL your site has to offer.

[JesseBacaLasVegas]

so what did you do.

[2ModMyLoan]

This story is true. The best way to fight these banks is with attorney assisted loan mods. I did and i recommend everyone do it that way. It takes an attorney to fight an attorney!

[MiahLFC]

thanks for the upload, keep up the good work

[zest4livin]

These are the same banks that the gov't is giving bailouts to. Freakin amazing!!!

[charliegirl42]

I was done in by deception, conspiracy and collusion... all parties involved knew what they were doing and could not let precedent be established by MY WINNING A CASE AGAINST THEM.....

So with one swat of her gavel, I lost my home of 9 years and had to move out...and YES, I get angry when I think about it....

[charliegirl42]

.....the pieces of paper that had been stapled to the original note documenting the "CHAIN OF POSSESSION" and proved beyond a shadow of a doubt!!! that the foreclosing party was NOT the party in interest, but only a "servicer" and had NO RIGHT to foreclose!!!  Simple possession of the note does NOT define OWNERSHIP!!!!!!!!! (there were multiple staple holes in the upper left hand part of the original note..!!!!)

[charliegirl42]

This whole case had gone on long enough they had time to PRODUCE THE ORIGINAL NOTE....BUT!!! (and here's the part the people on this website are not telling you!!!) THE ALLONGES were missing!!!

[wildpeachatl737]

I can only speak about GA law, but you are correct in that there should be note allonges for every transfer as well as a transfer or assignment of mortgage/deed recorded in the local court records that should show an unbroken chain of ownership.

Many companies have gotten around this by using a system called MERS (Mortgage Electronic Registration System) that handles these transfers from one comany to the next.

Unfortunately, most homeowners don't stand a legal chance.

[charliegirl42]

to be a bench trial...and the judge never looked at me, never even looked up from her desk where she was doing paperwork the whole time I was being grilled....and there were 3 on the 'plaintiff' side and only me on the defendant side....And Ashley in the gallery...and my STUPID ASS attorney I had mistakenly hired....never objected the whole time they were fumbling...

[charliegirl42]

But they are only telling you A PART of the whole story.... DO NOT DO THIS unless you KNOW what you are doing....I did this in 2003. AFTER TWO years of litigation, we were scheduled for a "hearing" which turned out (by stealth)

[jhunelle2006]

yes, I agree w/ this video. the banks/lenders are the ones that caused the foreclosure crisis. they became greedy and wanted people to lose their homes so they can call the insurance thru the so-called "CREDIT DEFAULT SWAP" tsk, tsk, tsk countrywide, wachovia, bank of america, wells fargo, deutsche bank, indymac, and so on are all guilty... MAKE THEM PRODUCE THE NOTE BEFORE THEY FORECLOSE ON YOUR HOME

[debrag1974]

see this proves to everyone that it is the loan servicers that are responsible for trying to keep people in default and quit blaming the brokers for this mortgage mess. These lenders created these products and pressured brokers to put borrowers into these loans because they would not approve them for anything else. 90% of America never qualified for a conforming mortgage loan.

[melisscali]

I called the Board and left a message. I am a journalist and threatened to take it to the press. They have caused me so much pain--i just got my payment history and they lied. I have months they say I didnt pay (my bank statements show I did) false late fees, a false default. This was my first home and I was excited. I spent hours EVERY month on the phone with EMC people who told me to shut up!

They would harass me daily and I HAVE ALWAYS PAID MY LOAN EVERY MONTH.

[whitebranch]

EMC Mortgage Corporation

2780 Lake Vista Drive

Lewisville, TX 75067-3884

Is this the company referred to in this video? Who sits on the board of this company?

[ALR6002]

It's owned by Bear Stearns

[melisscali]

JP Morgan now owns EMC call the CEO of JP MORgan

[SpeakerAuthor]

Texas must be where mortgage servicers hide out. That's where Saxon Mortgage Company is and they also are notorious for driving people into foreclosure.

[whitebranch]

This is really shocking - and disgraceful. Years ago I heard a real estate agent, who had watched people lose their homes during the 1981 housing crash say," I always tell people, if you can't pay cash for your house, get the biggest mortgage you can get." I couldn't understand her logic, until I heard this story of the old couple with the pricey home, who became targets for vultures like EMC. Let's post the names of the directors of this criminal company, and publicly disgrace them.

[melisscali]

EMC is just a servicing company now owned by JP Morgan. Call Jamie Dillon ( CEO OF JP) who now owns our loans and lets EMC get away w this

[melisscali]

EMC has falsly accussed me of being in default when I have paid on time, over and over, they harass me even after I prove that I paid, they are the MOST unethical company I have ever dealt with. It is class action lawsuit time

[Anvilofsteel]

I've been commenting for months, on news sites, that these guys Dont want you to pay your mortgage, they make more money off screwing up consumers and forcing them into foreclosure than they do by you paying your mortgage... so instead of making a 300% profit off your home loan over its life, they want to make a 500% profit in only 5 yrs.

[locobeaver]

EMC SUCKS! FUCKING DUMBASSES!