In a recent report the Office of the Inspector General (OIG) at the department of Housing and Urban Development (HUD) accuses Citimortgage Inc. has violated the Federal Housing Administration (FHA)’s Preforeclosure Sale Program (PSP) by “failing to properly determine that borrowers were eligible to participate in the program”[1]. CitiMortgage’s written response states simply that the lender “respectfully disagrees.” OIG is recommending that HUD require the lender to reimburse HUD for “63 improper claims totaling nearly $5 million.” Citi concedes that “seven of the exceptions cited have merit,” but disputes the rest of the findings.
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[1] http://www.dsnews.com/articles/hud-accuses-citimortgage-of-improper-fha-claims-2011-10-19
To whom it may concern:
Chase Bank is trying to take people property by coming in acting like they are the lien holder when they never had the mortgage in the first place.They are scaming seniors that don’t know what’s going on when they house is about to be in forclosure.If the owner have to go to court they need to make these company produce papers that they are the lenders.
CitiGroup is part of the near 100% of major banks and lenders who were underwriting residential loans to unqualified “homebuyers” for nearly eight years. These sub-prime mortgages were then bundled for Wall Street to sell as derivatives (Mortgage Based Securities) across the global securities investment market. The securities marketeers and investors decided standard residential mortgage documentation required too much storage and combined bulk materials handling for their purposes. Result — filliing of dumpsters and fueling of incinerators.
When the whole scheme blew up, traditional lenders found themselves holding the original account, without the required documentaion.
Many of the nation’s biggest and “Most Honorable” banks hired document factories to recreate millions of mortgage documents required by law and long since destroyed in this derivatives disaster. People facing foreclosure actions, or even those who have already lost their homes, need to review all the documents presented by the banks (lenders) from their mortgages — especially researching that all Officer signatures are traceable to actual living persons who were legitamate officers of that bank.
One d0cument factory at Marrietta, Georgia is known to have had dozens of people signing a variety of documents of all kinds, with the name Linda Green, Vice President. Linda Green apparently was vice president of dozens of banks, and had dozens of different signatures.
Secure the full directory of all authorized officer signatories for your mortgage banker during the period your loan was processed. Find a name not shown as a bank officer and there is an excellent probability the bank has perpetrated a fraud and conspired in forgery, false witness of documents, etc.
The same holds true for documents borrowers supposedly signed.
Amazingly, rank forgery is one of the easiest crimes to prove.