Fraud Factories: Are You A Victim of A Forged Foreclosure?
Posted by Michelle Moquin on October 14th, 2010
Foreclosure unfortunately is not an uncommon word these days, and with so many homes across the country going into foreclosure, it is no surprise that fraud has a face here too. First Fannie, Freddie, and the Wall Street financial firms, got the best of homeowners through bad loans, now there getting their piece on the back-end too.
Here’s an article from the Palm Beach Post that I found interesting, and thought you might too:
Ex-employee says foreclosure firm forged signatures
A former paralegal for Florida foreclosure giant David J. Stern describes an office where signatures on notarized documents were regularly forged, legal papers were prepared en masse in Guam and the Philippines, and closed-door screaming matches erupted when files weren’t moved fast enough.
The accusations were made in a sworn statement taken Sept. 22 by the Florida Attorney General’s Office for its investigation of the Plantation-based law firm, and appear to support nationwide concerns about behind-the-scenes practices used to take people’s homes.
Paralegal Tammie Lou Kapusta, who said she was fired by the firm in July 2009 after refusing to falsify documents, recalls Stern’s business growing from 200 employees to 1,100 in a little more than a year’s time as foreclosures skyrocketed and staff struggled to keep up.
Notary stamps, Kapusta said, were readily available in the office and employees, including herself, who were not notaries, routinely stamped documents.
People who could best fake the signature of the person designated to verify foreclosure affidavits would be sought out to sign her name. Firm executives knew about the practice, Kapusta said.
Also, assignments of mortgage were sometimes made after a foreclosure judgment was entered, a sign that the wrong bank brought the action, she said.
Stern’s firm, which is one of four large companies in the state representing banks in foreclosures, handles thousands of cases in Palm Beach County.
Stern attorney Jeffrey Tew, of the Miami-based Tew Cardenas law firm, said Friday that Kapusta is a disgruntled former employee with a vendetta against the company. None of her accusations of wrongdoing is true, said Tew, who noted that he was not invited to attend the testimony and was unable to ask rebuttal questions.
“When you read it, you can see her bias,” Tew said about the statement.
Kapusta’s testimony was obtained by St. Petersburg foreclosure defense attorney Matt Weidner in a public records request. He posted the more than 100-page document to his blog, calling it a “bombshell.”
“It’s flat-out fraud for someone else to sign your name and say it’s you and then have a notary sign it,” said defense attorney Tom Ice of Ice Legal in Royal Palm Beach.
Last year, Ice deposed Cheryl Sammons, the woman whose signature was allegedly forged. In the deposition she said she spent about 10 hours each week signing foreclosure documents she rarely read.
It was Sammons, Kapusta said, who would get into screaming matches with Stern in his office about the speed at which foreclosures were processed.
“The servicers grade the attorneys by how fast they get that paperwork through,” Ice said.
In recent weeks, Bank of America, Ally Financial, JPMorgan Chase, and now PNC Financial Services have suspended portions of their foreclosure proceedings because employees signed thousands of documents every month without personally verifying their contents.
Even before those announcements, the Florida attorney general had begun investigations into four so-called foreclosure mills concerning allegations that fraudulent documents were submitted in court.
The firms are Stern’s, and those of Marshall C. Watson of Fort Lauderdale, Shapiro & Fishman, which has offices in Tampa and Boca Raton, and the Florida Default Law Group in Tampa.
It’s estimated the firms handle about 80 percent of the state’s foreclosures.
But the investigations were dealt a blow this week when Palm Beach County Judge Jack S. Cox said the attorney general’s office has no authority to investigate law firms.
He quashed an attorney general’s subpoena for information from the Shapiro & Fishman law firm.
Tew said he has filed a similar request on behalf of Stern in Broward County. A judge there is expected to hear his arguments Tuesday.
If that wasn’t enlightening enough, this was e-mailed to me the other day. If you are facing foreclosure, this video is a must see…
I’ve been talking about the foreclosure crisis in my recent emails. This is a multiple-trillion dollar crisis that is reaching the boiling point in the houses on your street.
Most Americans are totally unaware of the significance of this crisis. It is much, much, much worse than mere “robo-signers.”
Congressman Alan Grayson, who is a layer, has done a 7 minute video explaining the basics of this foreclosure crisis.
His video speaks for itself.
The only solution to this fraud that I see is to hold those who are responsible accountable. Sadly, that will mean holding the giant Wall Street financial firms accountable, which may cause them to collapse.
This is serious. Just as Fannie, Freddie, Lehman, and AIG failures caused the financial system to crash in 2008, the foreclosure crisis can cause the failure of Bank of America, Ally Financial (formerly GMAC), Citigroup, and other giant financial firms.
The meltdown is occurring in real time, right before our very eyes, just as it did in 2008.
You do have a leg to stand on, if you realize that you want to stand up and fight for your family and what is right!
After viewing this video give me a call.
Thank you.
Patrick Lourim
Readers: “Foreclosure Mill Law Firms” – The title says it all doesn’t it? And what about these “robo-signers” having no idea what they are signing? Unbelievable. Yet they are basically writing the American dream off for so many Americans by forging a signature. A simple signature, and oops! sorry!…you no longer own your house.
When will this criminal behavior stop? Thanks to Congressman Alan Grayson, he is a voice worth listening to, and hopefully one that will speak loud in support of the rights of people, and the downfall of these fraud factories. Comments? Blog me.
FYI: This e-mail was sent from US Loan Auditors. I know nothing about this company but they may be worth checking out if you feel you are a victim of a forged foreclosure.
Lastly, greed over a great story is surfacing from my “loyal”(?) readers. With all this back and forth about who owns what, that appears on my blog, let me reiterate that all material posted on my blog becomes the sole property of my blog. If you want to reserve any proprietary rights don’t post it to my blog. I will prominently display this caveat on my blog from now on to remind those who may have forgotten this notice.
Gratefully your blog host,
michelle
Aka BABE: We all know what this means by now :)
If you love my blog and my writes, please make a donation via PayPal, credit card, or e-check, please click the “Donate” button below. (Please only donations from those readers within the United States. – International readers please see my “Donate” page)
October 14th, 2010 at 11:44 am
I will start this by stating that I am actually an optimist. Although, it is getting more and more difficult to find that place in today’s world of finance and political and corporate malfeasance.
The arrogance and greed of Wall Street and Washington and the frustration and confusion of the citizens is the game. The mob mentality and the manipulation of fear is the fuel…This is the largest corporate/governmental land grab in history. As the government owns Freddie and Fannie, do to the failed bailouts, (these institutions back 90% of American home loans) and the other banks are making record profits after they received their bailouts, yet are foreclosing en mass and not lending, this tells the story. Quite simple really. When the people begin to believe the level of corruption, from BOTH parties, and the fraud and corruption on Wall Street, and ACT against it things will change. And it can change overnight. France is a good current example.
This will go down in history, that is if the future history books are NOT written in TX, as the largest governmental and corporate land grab in history. The people that deny that this is taking place are not living in the real world. The people that refuse to think the world is this way are not living in the real world. You MUST wake up in order to take back what Wall Street, The FED, and Washington has taken from you! This is a NON PARTISAN situation…
People are asleep, and in denial of the true actions taking place. People are walking away from homes before playing their last hand, because they don’t understand the game, their options, their state’s foreclosure laws, the banks legal options, or even the fact that they have the opportunity to challenge the bank. People are nervous about their credit more than they are their home. The world of credit scores as it existed is over and new lines and rules MUST be redrawn. All a FICO score is is a calculated measure of risk tolerance that banks use. Fair Issac, the FICO people, and the 3 credit score firms are also deep into their own fraudulent situations. The whole system is in free fall. The mass media is trying to pacify the people with falsehoods, mis and dis information so the entire system doesn’t simply collapse. Yet the people and “their own little” system of paying bills and having food on the table has collapsed. Understand that your government, a bank or any corporation is NOT ON YOUR SIDE. They can write off losses, or get bailed out. They care NOTHING about the loan holder, or card holder…
If you have stopped paying your mortgage, don’t start again until the bank gives you a new mortgage in line with the current values and percentages. They will send a letter of foreclosure to you, they will threaten you. Possession in 9/10ths of the law. Each state has different Foreclosure policies, timelines, and practices. Learn them!! When the bank forecloses, they must go to court. You should also go to court. There will be a moment when you can ask the court that the bank produce the ORIGINAL loan document to the property in question that has YOUR INK! Due to the fraud, corruption, and criminal activity on Wall Street and the packaging and repackaging of loans that took place, and is still taking place, over 80% of the time the bank is UNABLE to produce the appropriate documents. It is their obligation to supply that document as without it they are in NO position to sue for the right to foreclose. Then follow this with a lawsuit against the bank for harassment, intent to commit fraud, coercion, and along the way we can think of many others…repackage that into massive class action lawsuits…you know…
All of their threatening phone calls, threatening letters of intent is designed to get the homeowner to collapse under that pressure BEFORE it reaches the courtroom. Foreclosure court is currently at the advantage of the homeowner, and not the bank.
Why else would the banks and those firms involve forge signatures. Because they don’t have original documents, because they know that they cannot win in court if the people begin to challenge. Now, put that en mass!! That is where the power lies!! They must forge because they cannot come up with the appropriate documents. The paperwork is lost in the shuffle of the Wall Street fraud and corruption of packaging and repackaging loans to resell on the open market. There are even options that traders can buy for options on loans. To trade on loan packages and the real estate market.
People spend money to agents that say to them that they will help them with their failed mortgage. This is the one of the biggest frauds being perpetuated today. They tell the homeowner that they will help them with the mortgage company to refinance their loan into a modification. Then they take their money and walk away, knowing the people don’t have the money to sue and come after them for fraud. If the bank cannot help you, that agent cannot help you. And the banks are NOT helping people. Simple. Do not use these con artists.
It is more cost effective for the banks to play the …”oops, we pushed a wrong button” game, or “we didn’t get that paperwork” response. They do this to drag out the process. To wear down the people to a point that people give up or feel that they will lose in the long run, so cut the loss now and move on. People are in a state of confusion with their loss of money, jobs, pride, family turmoil to understand that the banks care NOTHING about helping people. It is the banks position to help their stock holder, thus the Wall Street suit can get the bonus…
It is so simple, but most people don’t want to believe that this is how the world is. IT IS… Anonz has stated it before, that this is the world. Believe it. The beautiful, wonderful world we live in also has very dark and shitty corners. Understanding this will HELP you live in it. Hiding and not wanting to feel that this is the case will NOT help you. That is his world and the world of the elite on top that create war for profit, buy the judges, lobbyists and congresspersons in order create rules and regulations that help them win in situations like we are in.
This will end when people step up and challenge the banks, en mass. How about this – Everyone should simply stop paying all of their mortgages, and credit card debt. Let the banks try to come at every single person in the country begging. The money savings to the people will be put back into the economy in much more productive means than simply paying corporate debt. This corporate debt will be washed away anyway, through the corporate laws allowing them to buy down and write off their debt. The stockholders will take a hit, so sell before begin this process…
But what about FICO score. FICO scores are already dead in the water. The credit system that was designed is over. FICO means nothing when the banks are not lending. They are finding it easier and more cost effective for the banking institution to foreclose.
Consider this:
Does the government REALLY want to clean up this mess or can they find ways to meander through it until the world “gets back to normal” all the while making massive profits along the way…
Okay, let me put it to you this way, and you take it for what it is…
In July 2008, Indy Mac failed and was seized by the FDIC. The assets of Indy Mac bank were sold to One West Bank in March 2009. One West Bank was created and is owned by Goldman Sachs VP Stephen Munchen and Billionaires George Soros and John Paulson. All of the residential 1st mortgages were purchased at 70% of the par value of the loan, and all HELOC’s were purchased at 58% of the par value of the loan. Then, the deal these men made with our tax dollars via the congress and senate who agreed to the deal, was that the FDIC would cover 80%-95% of the losses due to any short sales or foreclosures. Now, these men bought the loans at 70% of the value and are guaranteed to 95% of their money back. But, here is another part of their deal. The losses that are guaranteed are to be calculated on the original loan balance. This leaves a spread of profit on the table of a minimum of 20%…GUARANTEED. They CANNOT lose. Your tax dollars are securing their profit margin.
So let me spell it out a bit more clearly…(This is a real real estate transaction)
The foreclosed homeowner had a loan balance of $485,000. One West Bank paid @ 70% 334,600 for this loan. Now, this homeowner is offered a short sale from the bank or in the marketplace of $241,000. Now, the ORIGINAL loan amount is what the FDIC agreed to back the percentage loss to One West Bank (or should I say Goldman Sachs and friends). So the difference in the adjusted loss is $244,200.
So, the FDIC writes a check to One West for 80% of the loss to the tune of $195,360. So, now you would add the $195,360 from the government, to the profit of the short sale of $241,000 to reach a total of $436,360. But wait, One West only paid $334,600 for the loan. You see, all the bank had to do was sell it for WHATEVER they wanted to…the bank CANNOT lose money on this deal…So, Goldman Sachs, I mean, it’s subsidiary One West Bank, just profited on the sale $101,760.
Thanks to YOUR tax dollars and the arrangement with the FDIC, the Goldman Sachs, I mean, it’s subsidiary, One West Bank will be doing this every day, hundreds or even thousand of times for a few years to come…GUARANTEED!!!!
So, if you are still asking yourself “why is it so hard to get a loan modification?” the answer might be simply that there is TOO much money to be made with write offs, short sales, and foreclosures than modifications…
You see, Goldman Sachs, damn I keep doing that, I mean, One West Bank actually profited from the sale to the tune of $101,760 even though it was sold for a lesser amount than what they bought it for…DO YOU SEE, YET? DO YOU GET IT?
And, by the way, the FDIC recently announced that it needs to start borrowing money from the Treasury. Now, the Treasury is the place where all of the Goldman Sachs people come from. You know, Hank Paulson, Meg Whitman, and so many others…
The Treasury is the government, who Constitutionally, has the right to print their own money, but
cancelled this right in 1913 made a deal with the PRIVATE group of white, rich, elite men from Germany, Austria, Switzerland to create the PRIVATE bank called THE FED. Note, I said PRIVATE BANK called The FED…
October 14th, 2010 at 2:19 pm
Doug
That was powerful. I believe every word.
October 14th, 2010 at 2:22 pm
I will give you 7 of the nine contended states if you give me the order.
Madaline
October 14th, 2010 at 2:36 pm
Please let Madaline help. I read this on the Huff. It is truly scary.
Peggy Drexler: With a life-long interest in political leadership, I thought I had seen it all: from selfless and inspiring to venal and creepy — and all points in between. But I was simply unprepared for Christine O’Donnell, the Tea Party-backed candidate running for a Delaware U.S. Senate seat. If we face the facts, we know that she was plucked from the side-show division of political obscurity because of her looks. Not that there’s anything wrong with that. Or unusual. And even if she is a witch, she’s a cute one. Today, with enough financial backing and some positions just to the right of crazy — that might be enough. Click here to read more.
=================================
Can America really afford to have these nuts running the government?
Nora
October 14th, 2010 at 2:49 pm
Confessions of a Butcher
John Smith
When families cut back on their household budgets, one of the first casualties often is meat. But if you know what to shop for, you can obtain delicious, high-quality beef, pork and chicken for a lot less money.
WHY MEAT COSTS SO MUCH
Beef and pork carcasses each have four or five sections, which are called primals. Butcher shops and supermarkets inflate prices by carving up these primal cuts into dozens of different shapes and sizes with fancy names, such as “rib eye”and “tenderloin.”
Result: The precut, prepackaged meats that most of us buy are grossly overpriced and have as much to do with marketing as with how tasty and tender they are.
You can request much cheaper and equally delicious alternatives from the butcher working behind the meat counter where you shop.
You just have to know what to ask for. It doesn’t hurt to be on friendly terms with the butcher, either. Often the cheaper version is virtually the same and from the same primal.
Here, a few examples of pricy cuts and their money-saving alternatives…
RIB EYE STEAK
A cut from the tender muscle over the backbone and ribs of the beef (prime rib), this steak is beautifully marbled with fat, loaded with flavor and grills well.
Cost: $12.99/lb.*
Alternative: Chuck eye is virtually the same muscle as the rib eye, but it is the section that extends into the chuck shoulder of the beef.
Best: Ask the butcher to cut about a four-inch roast off the front of the boneless chuck. Then ask him/her to peel out the chuck eye and cut it into steaks.
Cost: As low as $1.99/lb.
BEEF SHORT RIBS
This wonderful cut of beef for barbecuing or braising comes from the cross rib, a section extending from the shoulder to the ribs of the cattle. Unfortunately, about half of what you’re paying for is bone and fat.
Cost: $4.99/lb.
Alternative: Flatiron. This cut from the top of the shoulder blade probably is the most underrated cut of beef at the meat counter.
It’s delicious but unattractive, with what appears to be a thick seam of gristle going down its center. Actually, that’s not gristle, just a gelatin-type substance that melts away when you cook it.
What to request: Wait until there’s a sale on cross rib roasts, which happens frequently. Then ask your butcher to carve a flatiron roast for you out of the cross rib.
Have him cut the flatiron into boneless country-style ribs. They barbecue just as well as short ribs, but you get more for your money because there’s no bone.
Cost: As low as $1.99/lb.
LEAN GROUND BEEF
Regular ground beef is so fatty that many consumers are willing to pay for the leaner version with less than 10% fat even though it can cost two or three times as much.
Cost: As high as $6.99/lb.
Alternative: Bottom round, a very lean, meaty and inexpensive cut of beef.
What to request: Ask your butcher to grind up a bottom round roast.
Cost: $1.99/lb.
BEEF STRIPS FOR STIR-FRY OR FAJITAS
Supermarkets often use whatever cheap cuts of beef they have available for these two cuts but sell them at gourmet prices.
Cost: $8.99/lb.
Alternative: Rump roast is the cut that butchers often use to make prepackaged beef strips.
What to request: Ask your butcher to cut the rump roast into thin strips.
Cost: As low as $1.99/lb.
PORK TENDERLOIN
The “filet mignon”of the hog, tenderloin comes from the major muscle inside of the backbone between the shoulder blade and hip socket.
Cost: $5.99/lb.
Alternative: Boneless loin roast is a very tender cut that comes from the muscle near the backbone.
What to request: Your butcher can carve you an entire roast or cut it into medallions for frying, chunks for barbecuing or thin slices for stir-fried dishes.
Cost: As low as $1.99/lb.
ROASTING CHICKENS
These really are just very large whole fryer chickens.
Cost: $1.69/lb.
Alternative: Whole fryers. This is the best value in the entire meat section. It’s fine to buy them prepackaged without the butcher’s help.
Cost: $0.69/lb. to $1.29/lb.
If you like dark meat, you can save even more money — there are frequent sales on prepackaged fryer hindquarters (the drumstick, thigh and part of the back).
Cost: As low as $0.59/lb.
VEAL
This meat from a male dairy calf has a lighter color and a more delicate taste than adult beef.
Cost: $12.99/lb.
Alternative: Boneless pork sirloin. A tender cut of pork from the backbone of the hog near the upper hip, it’s nearly the same color as veal and mild in flavor.
What to request: Ask your butcher to slice the pork sirloin very thin, and it will make a delicious substitute in such dishes as veal Parmesan and veal scallopini.
Cost: As little as $1.99/lb.
ITALIAN SAUSAGE
Supermarkets use the fatty pork trim from the day’s cuttings or cheaper cuts of pork to grind into sausage.
Cost: $3.99/lb., more if made into links.
Alternative: Pork shoulder butt. This is meat from the top portion of the front leg of the hog. It’s a well-marbled cut that’s tougher than other pork meat because it comes from active muscle.
What to request: Have your butcher grind it. Then you easily can mix it with Italian or breakfast sausage seasoning yourself. Without seasoning, it’s a great substitute for ground beef.
Cost: $0.99/lb.
*Prices in this article are typical of butcher shops in Idaho. Prices may vary at supermarkets and butcher shops across the country.
Personal interviewed John Smith, a professional butcher for more than 30 years in retail and wholesale stores and meat -packing plants.
He is author of Confessions of a Butcher: Eat Steak on a Hamburger Budget and Save $$$ (Ark Essentials). He lives in Idaho. http://confessionsofabutcher.com.
October 14th, 2010 at 2:52 pm
Zen Lill
Did you have a picture of a baby in your wallet? I read this article with you in mind.
++++++++++++++
A Baby Picture Can Protect Your Wallet
Richard Wiseman, PhD
University of Hertfordshire
In a recent study, 88% of people who found wallets with photos of a smiling baby returned them… compared with 53% of people who found wallets with a photo of a cute puppy… 48%, a happy family… and 28%, a contented elderly couple.
Personal interviewed Richard Wiseman, PhD, professor, psychology department, University of Hertfordshire, UK, and leader of a study in which 240 wallets were planted on the streets of Edinburgh.
+++++++++++++++++++++++
Here’s hoping you get it returned anyway.
Saul
October 14th, 2010 at 5:45 pm
HI Mischa, wow, such corruption, it geos so deep…and Doug, great example and I found out the hard way about soem of the things you pointed out, some of the lessons were ones I think I could’ve gone through life not needing/wanting to know…never knew people, banks, etc…could lack compassion so completely. For some people taking my calls it was just a job and you could hear that they were job weary but needed the paycheck. It’s a creepy underbelly of a world sucking the life out of people in financially stressful situations right now. And not only do you need the wherewithall to handle the stress but you need the time to be on the phone and not want to reach in there and gran their neck while ‘negotiating’ it was very trying on my Zen-ness but in the end I did get the kind deal on everything.
Saul, thank you so much for that article and thinking of me. I thought about it late yesterday – that i would wait to get a duplicate drivers license and just carry a copy of my passport for a week or so…bc I did have 3 pics in there of my girl as a baby, her at 3 with me and her at 5 with me and most precious, a love note in kiddie scribble about coming to her ‘clothing store’ for a sale : ) bc on Tuesdays everything is FREE, hahaha…I’m hoping some kind soul out there understands how dear that is and how much I’d like that back. Keep you posted and thank you again, the fact that you wrote that makes me think that maybe that someone like you will find it and send it back soon. I know I would send it back…
Ruth, is that Anonz info supplied by Nora a few weeks ago verified? …not that I don’t trust Nora but thought we would’ve heard from you on the matter by now.
Pluvness, Zen Lill
October 15th, 2010 at 2:20 am
A little girl goes to the barber shop with her father. She stands next o the barber chair, while her dad gets his hair cut, eating a snack cake.
The barber says to her, “Sweetheart, you’re gonna get hair on your Twinkie.”
She says, “Yes, I know, and I’m gonna get boobs, too.”
October 15th, 2010 at 3:13 am
It’s all true Zen Lill. If Ruth is in the loop or can reveal what she knows, she will affirm all that I have said.
Another question I have is will you be the one singing this to Anonz, http://perezhilton.com/2010-10-14-natalia-kills-wonderland?
Will he live to take you to Wonderland?
There are a many betting against his survival. In some circles he has more money on his head than Bin L.
It is rumored that the Chinese will up their $100 million reward for his capture. They want to send a message that their goals will not be thwarted.
My husband switched sides to get a piece of that. He, like many others, are saying “It’s not personal, just business.”
China is especially ticked off because Anonz has made it his personal mission to prevent China from getting the petroleum fields in the Sudan they desperately need to meet their every growing energy demands.
Anonz needs to drop this personal vendetta and do his usual filthy business of taking several billion dollars a month in royalties from the energy and mineral fields as he usually does.
China could probably be persuaded to grant him several billion more in other areas if he backed off.
I mention this in the event anyone with an iota of influence with him can use that influence to save his life. It’s simple.
He gets to add $$billions more to his trillion dollar coffers and live or face a life of looking over his shoulder for the retribution that is coming.
Other nations are feeling the weight of China’s disapproval of Anonz’s actions. More NATO forces will die all over the world from now on until they disavow any connection with their “Paladin.”
While they may secretly be romanticizing his exploits, their soldiers will be targeted at unprecedented levels. You will hear of the many new deaths suffered by NATO forces the world over. That will not be a secret.
Obama will not be President forever. And as soon as a president is elected who will take a few million under the table to allow all who wish to avail themselves of the opportunity of earning that reward to do so without sanctions from the US, his goose is cooked.
Nora