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Found 3 results

  1. A person owns a home in Washington, DC and has a mortgage on it. They relocate to Massachusetts. One month later, they refinance the DC home and get a new mortgage, claiming the DC property is still their primary residence, even though they're now residing in Massachusetts. That seems like it was fraud. But there's more. A year later, while still living in Massachusetts, they buy a home in Massachusetts. They obtain a mortgage to fund their purchase for this newly acquired home. For this new mortgage, they claim this will be their primary residence. They then proceed to truly live in this new Massachusetts home as their primary residence. The question is, has this person comitted any wrongdoing with respect to the mortgage they acquired for the Massachusetts home? Did they defraud the Massachusetts lender, or have they only defrauded the DC lender?
  2. Hi Guys, I have a few questions in regards to this Mortgage Assignment and I need someone with the experience to spot possible fraud. I do understand without litigation, discovery, ect ect you cant know with a certainty. What i am trying to understand the form and what information could I search for or you can provide to help with my investigation. This is an assignment is from RMS Mortgage Asset Trust 2012-1 selling or assigning to Wilmington Savings Fund Society, FSB, Not In It's Individual Capacity But Solely As Trustee Of Primestar-H Fund II Trust. My questions relate to the legality and or form of the signatory on the assignment. RMS Mortgage Asset Trust 2012-1 By: Wilmington Savings Fund Society, FSB, Not In It's Individual Capacity But Solely As Trustee Of Primestar-H Fund II Trust. Attorney in Fact What does this mean ? Does it mean the signatory is signing for RMS? or Signing for Wilmington as attorney in fact? Attorney of Fact for who, RMS or Wilmington? Does the signer have to have some authority for signing for RMS, who is Assigning it to Wilmington? Whats the purpose of the signature below? Why would the signer be signing as Vice President for Wilmington Savings Fund Society, FSB, Not In It's Individual Capacity But Solely As Trustee Of Primestar-H Fund II Trust. Why would the VP for Wilmington signing by this title? If RMS is selling to Wilmington should the document be signed by a signatory of RMS Mortgage Asset Trust 2012-1 What do the experts think. Please Help
  3. I was behind on my payments with Penfed on a loan I took out in 2008 and they refinanced my HELOC by incorporating the closing fees and late interest into a new HELOC in May of 2010, which since it was the only loan on my property is in a first lien position. Even though they did it as a HELOC, they closed the line of credit. My balance is $85,000.00 which is the original amount refinanced. The property has lost value and is worth about $52,000.00. Since LTV is upside down I want to approach Penfed from a position of leverage and rework the loan with a lower loan amount. I am current on my payments for this HELOC so it's not like I have to hurry and do something to prevent foreclosure. I looked at the promissory note and they mention MERS once in there but there is no 18 digit MERS identification number and I can't find where this note was securitized when I entered my SS # and address on Freddie Mac and Fannie Mae websites while searching for my note. Does anybody know if lenders securitize HELOC's, and especially HELOC's that are in a 1st Lien position? I don't know if Penfed services their own loans as a credit union but if I can find out Penfed had MERS involved with this, I should be able to uncover some fraud which would give me the leverage I need to negotiate with them on lowering the balance owed.
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