Starting Soon! The Neil Garfield Show- 6pm Eastern: Loan Modification Fraud by Servicer is a new Foreclosure Tactic

 

The JPMorgan Paper Chase Live at 6 pm

Loan  Modification Fraud Discussion-Live 6pm

Thursdays LIVE! Click in to the The Neil Garfield Show

Or call in at (347) 850-1260, 6pm Eastern Thursdays

In this broadcast Mortgage Fraud Investigator Bill Paatalo and Southern California Attorney Charles Marshall join Attorney Neil Garfield to discuss Loan Modification Fraud.  Loan Modification Fraud by Loan Servicers is on the rise.  Unsuspecting homeowners are not aware that servicers are modifying their loans without their consent.

When a loan is modified it is a revision to the contractual payment terms of the related mortgage note, agreed to by the servicer and borrower, including, without limitation, the capitalization of any amounts owed by adding such amount to the outstanding principal balance.

Mortgage servicing fraud generally involves the diversion or misuse of principal and interest payments, loan prepayments, and/or escrow funds for the benefit of the service provider, but not the consumer.

Bill Paatalo conducted an investigation for a client that revealed that the servicer (Nationstar) was reporting to the investors of a REMIC trust that the loan/debt received a “Capitalization Modification” in the midst of foreclosure proceedings, and just prior to the Sheriff’s Sale of the property.

The end result is that there is likely not a borrower default, the outstanding balance is incorrect and all too often the trust doesn’t own the note, the note no longer exists, or there are no losses to the servicer.  Proving this is true is more difficult and an attorney should ask the defendant (servicer) to:

  1. Produce remittance reports limited to the time period when Defendant was acting as servicer
  2. Produce copies of unredacted and redacted documents to plaintiff to determine whether attorney/client and/or attorney work product privileges were properly claimed.

For an article on this story please go to: http://bpinvestigativeagency.com/federal-judge-compels-nationstar-to-produce-false-modification-accounting-records/

Investigator Bill Paatalo can be reached at:  (406) 328-4075. http://bpinvestigativeagency.com

California Attorney Charles Marshall can be reached at:

Law Offices of Charles T. Marshall
415 Laurel St., #405
San Diego, CA 92101

 

3 Responses

  1. After sending promissory note without our signatures in it, the servicer SLS wants us to submit an application for mortgage modification.

  2. Good info as always Neil. They just don’t seem to stop and sleep with one eye open at night trying to figure out the next swindle of borrowers. Too bad the courts, recording offices and attorney across the country don’t band together to put in end to all this crazy stuff!!!
    Fannie Mae and others, including our crooked congress and other government agencies all seem to be in on all this and good at lending a “deaf ear” and just avoiding things all together!!! Really sad. Keep up the great work and Semper Fi. Will be interesting to see how the attorneys did today at the Supreme Court of Colorado in trying to overturn the alleged unconstitutional Rule 120- a true wonder who passed that to protect lenders and screw the borrowers.

  3. November 10, 2016

    Office of the Comptroller of the Currency Case # 03097098 Fax # (713) 336-4301

    Please see that Union Bank answers the questions asked of Union Bank again today November 10, 2016. The questions asked of Union Bank since October 17, 2016 can be seen at http://www.officeofthecomptrollerofthecurrency.com

    Sincerely

    William A. Bookout
    SBA PLP Loan # 664-196-4009

    From: Bill Bookout [mailto:pismobeachdiveshop@charter.net]
    Sent: Thursday, November 10, 2016 10:43 AM

    Subject: RE: Union Banks 2012 IRS 1099-A Form accounting showing Union Banks monthly Grand Theft and IRS Fraud!–Bookout SBA Loan #100983501

    November 10, 2016

    Robert B. Forouzandeh, Union Bank and Union Bank Senior Vice President Christine Sontag through Union Bank SBA Loan Representative’s Diana Jessup Lee and Robert B. Forouzandeh Reicker, Pfau, Pyle & McRoy LLP appointed by Santa Barbara Commissioner Denise Motter and Santa Barbara Superior Court Judge Colleen K. Sterne.

    Comptroller of the Currency Case # 03097078 –FAX # 713-336-4301

    Re: Union Banks November 9th an 10th 2016 Emails SBA PLP Loan # 664-196-4009

    Robert B. Forouzandeh, The questions asked of Union Bank since October 17, 2016 are seen at http://www.officeofthecomptrollerofthecurrency.com Again, Please provide Check # 1754 and all the emails sent to you since October 17, 2016 to Union Bank, c/o Greg Taylor, 6 Pointe Drive, Suite 500, Brea, CA 92821. Santa Barbara Commissioner Denise Motter and Santa Barbara Superior Court Judge Colleen K. Sterne require that this information and questions asked of Union Bank goes through you and Diana Jessup Lee.

    Again, Please have Union Bank immediately provide an itemized accounting showing the claimed, November 2016 Payment Notice itemized as to how payments have been applied to this SBA PLP Loan # 664-196-4009 all the way back to 2003! This can be established in a current SBA Form 1149 regarding SBA PLP Loan # 664-196-4009! Understand that the questions asked and unanswered of Union Bank, now involve the Comptroller of the Currency Case # 03097078 and the IRS. The IRS, SBA and the OCC is copied to this email for this reason. Robert B. Forouzandeh, Again, Please provide the Exact Date that Union Bank claimed to have done a Rescission of this SBA Loan, Per Union Banks October 24, 2016 letter? This can be provided in a SBA Form 1149.

    Robert B. Forouzandeh, IRS Agent Stuart Young is copied through my accountant Scott Stephens; per our Email Communication: Currently with Union Banks October 24, 2016 Letter, I have $178,000.00 in IRS accounting write-Offs plus an additional $30,000.00 to $40,000.00 if Union Bank has in fact changed IRS 1098 Form Accounting with the IRS all the way back to 2007. Robert B. Forouzandeh, Did Union Bank amend the 2012 1099-A on February 11, 2014 and did Union Bank claim this to the IRS? Robert B. Forouzandeh, Did Union Bank amend the IRS 1098 Forms all the way back to 2007?

    Robert B. Forouzandeh, Attached is Union Banks IRS 1099-A that Union Bank provided to the IRS in 2012, showing no money being owed Union Bank since February 22, 2012 per SBA PLP Loan # 664-196-4009. This would mean that the payment notices prepared by you has been Grand Theft by Union Bank since February 22, 2012! This is a $39,492.00 per year full IRS Tax Write-offs inTax Years 2013, 2014, 2015 and 2016 now presented to IRS Agent Stuart Young in which the IRS will need to Subpoena Union Banks records per Union Banks two sets of books, Fully known to the Comptroller of the Currency Case # 03097078.

    Robert B. Forouzandeh, With Union Banks October 24, 2016 letter per, Comptroller of the Currency Case # 03097078 claimed rescission. Please immediately provide any Union Bank 2007 to 2011 IRS 1098 Forms, changed by Union Bank to myself and IRS Agent Stuart Young 2384 Professional Parkway Santa Maria, Ca 93455.. You Can fax this information to the IRS at Fax # 855-293-4983

    Robert B. Forouzandeh, Check # 1754 can be again, be paid to SBA PLP Loan # 664-196-4009 or it can be put into an interest accumulating account until Union Bank has answered the questions asked above and at http://www.officeofthecomptrollerofthecurrency.com since October 17, 2016. Again, Please send this email and the check in your possession to Union Bank, c/o Greg Taylor, 6 Pointe Drive, Suite 500, Brea, CA 92821.

    Sincerely

    William A. Bookout
    SBA PLP Loan # 664-196-4009

    CC Scott Stephens

    CC. IRS Agent Stuart Young
    2384 Professional Parkway
    Santa Maria, Ca 93455
    Fax # 855-293-4983

    CC Comptroller of the Currency Case # 03097078
    CC Laura L Magere, Office of FOI/PA. 409 3rd Street, SW

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: