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AHMSI sues LPS and DocX over robo-signing scandal - 2011-08-23 13:44:14-04

HousingWire- Lender Processing Services Inc. (LPS: 17.07 -2.29%) and its DocX affiliate caused American Home Mortgage Servicing Inc. to lose millions from the robo-signing of mortgage documents, a lawsuit filed Tuesday contends. Coppell, Texas-based AHMSI filed suit in a Dallas district court against Jacksonville, Fla.-based LPS alleging more than 30,000 residential mortgages across the [...]

IN RE SCHWARTZ | MASS. BK Court Re-Opens Case “The fact that it had possession of the mortgage instrument did not render Deutsche the mortgagee and thus it lacked the power to sell the property” - 2011-08-23 17:03:27-04

UNITED STATES BANKRUPTCY COURT DISTRICT OF MASSACHUSETTS CENTRAL DIVISION In re: SIMA SCHWARTZ Debtor SIMA SCHWARTZ Plaintiff v. HOMEQ SERVICING, AGENT FOR DEUTSCHE BANK NATIONAL TRUST COMPANY, AS TRUSTEE and DEUTSCHE BANK NATIONAL COMPANY, AS TRUSTEE Defendants MEMORANDUM OF DECISION AND ORDER After the plaintiff, Sima Schwartz, presented her case in chief during the first day of the trial in this adversary proceeding, upon oral motion of the defendants, HomEq Servicing and [...]

FDIC has to face $10 billion WaMu-related lawsuit - 2011-08-23 18:08:49-04

REUTERS- A federal judge ruled that the Federal Deposit Insurance Corp has to face a $10 billion lawsuit tied to the failure of Washington Mutual Bank. The judge refused the FDIC’s request to dismiss the lawsuit brought by Deutsche Bank National Trust Co over bad mortgages that were securitized by Washington Mutual. Washington [...]

BREAKING: New York Removed From State Group Working on Foreclosure Fraud Settlement Deal - 2011-08-23 18:30:23-04

Truly remarkable that no one can convince Attorney General Eric Schneiderman agree to back down! NY should support his team in any way, shape and form. He is NOT willing to let go of what is right for the NY people! Aug. 23 (Bloomberg) — The New York Attorney General’s office was removed [...]

Deutsche Bank knew mortgage co it bought lied: Justice Dept - 2011-08-24 00:30:10-04

(Reuters) – Deutsche Bank AG knew in 2006 that a mortgage company it was preparing to buy lied to the U.S. government about its mortgages, yet went ahead with the purchase and should be held financially responsible, the Justice Department said on Monday. According to the department’s amended $1 billion complaint [...]

 

 

 

 

 

 

 

 

 

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KANSAS ATTORNEY GENERAL DEREK SCHMIDT, YOU SAY YOU ARE COMMITTED TO FRAUD, SO PLEASE DO SOMETHING. LOOK INTO QUESTIONABLE MORTGAGE DOCUMENTATION FILED IN THE STATE'S REGISTER OF DEEDS OFFICES, PARTICULARLY THOSE LINKED TO DOCX, LPS, AND MERS -- JUST AS MICHIGAN ATTORNEY GENERAL BILL SCHUETTE, ALONG WITH CALIFORNIA, NEVADA, NEW YORK, MASSACHUSETTS, AND DELAWARE ATTORNEYS GENERAL HAVE COMMITTED TO DOING. WHAT DOES IT TAKE TO GET KANSAS INVOLVED?

Servicer Sues LPS-DOCX OVER ROBO-SIGNING

Posted on August 23, 2011 by Neil Garfield

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EDITOR’S NOTE: I find it interesting that LPS continued to fabricate and forge documents after AHMSI told them to stop. It could only mean that they were really taking orders from someone else. The ankle biting is escalating.

AHMSI sues LPS and DocX over ‘surrogate’ signing scandal

by KERRY CURRY

• LPS: Docx practice discontinued 2 years ago


• Michigan AG to probe DocX signatures


• Judge dismisses AHMSI suit against HUD but leaves window open


• Texas AG calls for statewide foreclosure suspension


• Florida AG Investigates Fidelity National, LPS Foreclosure Processes

Tuesday, August 23rd, 2011, 10:43 am

[[Update 1: Changes terminology from robo-signing to surrogate signing.]]

Lender Processing Services Inc. (LPS: 17.045 -2.43%) and its DocX affiliate causedAmerican Home Mortgage Servicing Inc. to lose millions from the robo-signing of mortgage documents, a lawsuit filed Tuesday contends.

Coppell, Texas-based AHMSI filed suit in a Dallas district court against Jacksonville, Fla.-based LPS alleging more than 30,000 residential mortgages across the country were affected by  “improper execution, notarization and recording of assignments of mortgage.”

LPS could not immediately be reached for comment.

The lawsuit comes on the heels of AHMSI’s unsuccessful attempt to recover its losses during more than a year of talks with LPS. AHMSI said the defendants first promised to indemnify AHMSI and then later claimed it had no duty to do so because the contract involved with the faulty assignments had already expired.

But AHMSI contends the “defendants conveniently ignore that they created tens of thousands of assignments of mortgage and accepted hundreds of thousands of dollars in payment in accordance with the terms of a supposedly nonexistent contract.”

The lawsuit seeks a declaratory judgment that the contract between the parties is binding and an order compelling LPS and DocX to arbitrate AHMSI’s claims of breach of contract and indemnification. It seeks an unspecified amount of damages, but puts the figure in the millions.

“DocX prepared, executed and recorded lien releases, assignments of mortgage and related documents for AHMSI from April 2008 through November 2009,” AMSI said.

Certain DocX and LPS employees were appointed by AHMSI’s board of directors as “special officers” of AHMSI with powers limited to executing mortgage-related documents, according to the mortgage servicer.

“However, in late November 2009, LPS informed AHMSI that from March 2009 through October 2009, a substantial number of assignments of mortgage were executed by ‘surrogate signers,’ that is, by individuals who were not designated as special officers, but who signed in the name of one or more of the designated special officers. At no time did AHMSI sanction or know of the ‘surrogate signing’ practices of LPS and DocX,” AHMSI said.

The servicer said it terminated its contract with DocX after the revelation and conducted a 50-state remediation effort to correct affected assignments.

“Defendants practice of ‘surrogate signing’ has forced AHMSI to address a myriad of legal issues, problems and proceedings in venues across the country,” the lawsuit alleges.

AHMSI is one of the largest mortgage servicers in the country. It manages nearly $72.5 billion in loan servicing, representing about 384,000 customers, the company said.

In October, LPS said varying signature styles from its subsidiary, DocX, resulted from a DocX practice that has been discontinued and only affected two lenders/servicers, but did not identify those servicers. LPS said at the time that it had not executed affidavits with substantive information on behalf of its clients since 2008, and said it has been mischaracterized in the media in terms of its default-related services.

Since then, LPS and DocX have the the source of several investigations. In April, Michigan Attorney General Bill Schuette said he would look into questionablemortgage documentation filed in the state’s Register of Deeds offices, particularly those linked to DocX.

Also in April, LPS signed a consent order with the Federal Reserve to settle a federal investigation into foreclosure practices at the firm and major mortgage servicers. LPS was required to boost oversight of its processes.

Write to Kerry Curry.

Follow her on Twitter @communicatorKLC.

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Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor,Mortgage, securities fraud Tagged: | AHMSI, bankruptcy, borrower, countrywide, disclosure,Docx, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, LPS, modification, quiet title, rescission, RESPA, securitization, TILA audit,trustee, WEISBAND

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REGISTERS OF DEEDS SHOWING PERSONAL VERACITY AND INTEGRITY. WHAT AN AWESOME CHANGE OF PACE .

REGISTER OF DEEDS JEFF THIGPEN TO REJECT ROBO-SIGNED DOCUMENTS

Guilford County Register of Deeds Jeff Thigpen is joining actions taken today by South Essex Massachusetts Register of Deeds John O’Brien in rejecting two robo-signed documents submitted to O’Brien’s office for recording including the names of Linda Green, Korell Harp and Linda Burton.

Register of Deeds Thigpen will begin rejecting robo-signed documents effective immediately.

Thigpen and Register O’Brien will hold those documents for recording until such time as any law firm and/or the lender presenting the documents for recording, sign a notarized affidavit, under the pains and penalties of perjury, that they certify the authenticity of the signatures, including the notary’s on the recording.

In May, Register of DeedsThigpen sent state and federal regulators over 4,500 robo-signed documents submitted by DocX, a company owned by Lender Processing Services contracted by Wells Fargo, Bank of America, and MERS amongst others. Those documents included 1,947 signed by Linda Green with 15 different signature variations and 373 documents signed by Korell Harp with 4 signature variations.

Thigpen’s findings on robo-signed documents were released after a CBS 60 Minutes segment that interviewed Linda Green, a woman in rural Georgia whose signature was signed on mortgage documents as a vice president of more than 20 banks at the same time.  Green said she’d never been a bank vice president.  60 Minutes interviewed a number of employees of Doc X who asserted they had signed and notarized Linda Green’s name on thousands of fraudulent documents.   Attorney Lynn Szymoniak interviewed for the CBS segment joined Thigpen in releasing the findings.

Thigpen urges county recorders across the United States to join in taking a similar stand on rejecting robo-signed documents.   ”The basic question here is whether we as Recorders are going to sit on our hands, in the face of what appears to be clear fraud or are we going to stand up for 400 years of integrity and fair dealing in commerce? John is on the right side of this question and these are reasonable actions.  If we are ever going to return to basic fundamentals in our financial services system, now has to be time and we have a vital role to play”.

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• Massachusetts Register of Deeds Says No to robo-docs (ritholtz.com)
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“Register refuses to accept ‘robo-signed’ documents. Hats off to you, Mr. O’Brien.

“Register refuses to accept ‘robo-signed’ documents
By Julie Manganis
Posted:06/08/2011 3:55 AM
SALEM — John O’Brien is a man on a mission.

The South Essex register of deeds, who has been on a crusade to hold major banks accountable for their role in the home mortgage crisis, is now turning his attention to what he and others say are forged mortgage documents being pumped out by lenders seeking to back up foreclosures.

Yesterday, he refused to accept two documents purportedly signed by “Linda Green” — a name that appears on nearly 300 other mortgage documents already on file at the South Essex registry and on thousands of other mortgage documents being filed around the country.

The documents are what have been referred to as “robo-signed” — generated by a Georgia-based company called Docx.

O’Brien and other registers say that Docx was set up by the banking industry to create documentation after homeowners whose mortgages were being foreclosed began going to court demanding proof that the bank seeking to foreclose on them actually owned the mortgage.”

This is a great article in that it gives a good overview of robo signing and why the practice started happening, and the groundswell of resistance to that fraud upon the court.

It may be surprising, but no other Register of Deeds in the United States has refused these forged documents, despite proof in the form of news reports and the variety of handwriting for one name. Until now.  Hats off to you, Mr. O’Brien.

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• Register of Deeds O'Brien Rejects Fraudulent Foreclosure Documents (firedoglake.com)
• Fair Game: Homework Regulators Aren't Doing (nytimes.com)
• Thorough Look At Just One NC County Found Most Mortgage Docs Were Fraudulent (crooksandliars.com)
• Richard Zombeck: MASS Registry of Deeds: A Household Name in Foreclosure Households (huffingtonpost.com)