AHMSI (American Home Mortgage Servicing Inc) purchased substantially all of Option One Mortgage about two years ago. AHMSI is owned by the texas billionaire Wilbur Ross. A number of Option One’s loans are now serviced by SPS, Select Portfolio Servicing, formerly Fairbanks Capital,which changed their name following DOJ sanctions and a 48 million dollar fine. Another entity, Sandhills mortgage or financial, took over the dregs of Option One’s business not purchased by AHMSI. I am not sure of Wells Fargo part in this scheme.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud, Servicer | Tagged: 48 million dollar fine, AHMSI, American Home Mortgage Servicing Inc, DOJ sanctions, Fairbanks Capital, HERS, Option One Mortgage, Sandhills mortgage or financial, Select Portfolio Servicing, SPS, Wells Fargo, Wilbur Ross |