FORECLOSURE RESOURCE LIBRARY

Report: Complaints Re Fannie Mae

REPORT TO FANNIE MAE
REGARDING
SHAREHOLDER COMPLAINTS
BY MR. NYE LAVALLE
(147 pages) 

YEARS before the housing bust — before all those home loans turned sour and millions of Americans faced foreclosure — a wealthy businessman in Florida set out to blow the whistle on the mortgage game.
His name is Nye Lavalle.  In 2003, when home prices were flying high, he compiled a dossier of improprieties on one of the giants of the business, Fannie Mae.

What he found looks like a blueprint of today’s foreclosure crisis. Mr. Lavalle discovered that some loan-servicing companies that worked for Fannie Mae routinely filed false foreclosure documents, not unlike the fraudulent paperwork that has since made “robo-signing” a household term. Even then, he found, the nation’s electronic mortgage registry was playing fast and loose with the law — something that courts have belatedly recognized, too.

This 2006 report suggests just how deep, and how far back, our mortgage and foreclosure problems really go.

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Complaint: State of Delaware vs. MERSCORP

Verified Complaint of Delaware Attorney General
against MERSCORP and
Mortgage Electronic Registration System, Inc.      (92 pages) 

The basic allegations of this lawsuit are:  that MERS violated Delaware’s Deceptive Trade Practices Act by creating an unregulated shadowy registry that is unreliable and inaccurate and blocks homeowners from learning which entity truly owns their mortgage. The complaint highlights three major deficiencies:

 • MERS obscures important information from borrowers and what is available to
    borrowers is frequently inaccurate.  
• MERS acts without authority 
• MERS is a “front” organization that does not enforce its own rules

 

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Report: Florida Attorney General's Report

Report of the Florida Attorney General on
Unfair, Deceptive and Unconscionable Acts in Foreclosure Cases     (98 pages)

This is the comprehensive report prepared by the two fired Florida Assistant Attorneys General, which reflects the results of the investigation started under former Florida Attorney General Bill McCollum, Pam Bondi's predecessor in office.  The truth is, much of this information was uncovered by private foreclosure defense attorneys, most especially Thomas Ice, of the Ice Law Firm in Royal Palm Beach, Florida, and Lynn Szymoniak, the white collar crime expert who was featured in the 60 minutes report included in our Video Library.

Read more: Report: Florida Attorney General's Report

   

Deposition: Cheryl Samons

Cheryl Samons    David J. Stern Law Firm     (138 pages)

This is a deposition taken May 20, 2009 by Thomas E. Ice, of Ice Legal, P.A..  The deponent was the Operations Manager for the Law Offices of David J. Stern, that worst-of-all foreclosure mills which has now collapsed "like an indoor bed." Samons worked for Stern for 14 years, and answered directly to David Stern.  This is a very lengthy deposition, and despite the fact that she has been deposed a number of times already, she makes numerous damaging statements that helped illuminate some of the worst practices uncovered during the Robo-Signing Scandal.

This was one of the first depositions taken and released, and was used to convince the various governmental agencies to investigate this scandal.  Congratulations to Ice Legal on the great job they did.

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Deposition: Erica Johnson Seck

This is a deposition taken July 9, 2009 by Thomas Ice of the Ice Law Firm.  The deponent had signing authority for MERS, along with Indymac-related entities, Deutsch Bank, and others.

Read more: Deposition: Erica Johnson Seck

   

Admissions: Ocwen Loan Servicing, LLC

Ocwen Loan Servicing, LLC relating to Scott Anderson (29 pages)

This is a document, known as a Response to Request for Admissions was filed June 4, 2010 by Ocwen.  Scott Anderson is someone who's signature (or facsimile thereof) appears on many documents.  Here, Ocwen is admitting that his signature wasn't always actually his signature, but signed by others, in their words, "duly authorized to sign his name." 

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Deposition: Ron Wolfe

Ron Wolfe  -  Florida Default Law Group     (125 pages)

This is a deposition taken August 26, 2010 by Chris Immel, of Ice Legal, P.A..  The deponent worked as Managing Partner at the Tampa law firm Florida Default Law Group, another large foreclosure mill. 

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Deposition: Tammy Lou Kapusta

Tammy Lou Kapusta David J. Stern Law Firm     (108 pages)

This is a deposition taken September 22, 2010 by attorneys from the Florida Attorney General's office.  The deponent worked for the Law Offices of David J. Stern for about a year and a half, and had 12,000 files which she supervised.  She makes it clear that the underlying data to generate important legal documents at Stern was input into their computer systems (while they slept) by outsourced employees in Guam and the Phillipines.

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Deposition: Kelly Scott

This is a deposition taken October 4, 2010 by the Florida Attorney General's Office.  The deponent was a legal assistant to Cheryl Samons.

VIEW DOCUMENT 

   

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ABOUT THESE
FORECLOSURE RESOURCES

For the property owner who truly wishes to dig deep into the mortgage foreclosure scandal and the highly questionable practices of the mortgage industry and the too-big-to-fail banks, we offer this (partial) list of deposition transcripts and other materials which serve to illuminate this subject.  We hope you find these items helpful.  There is a LOT of reading here!

A note for the uninitiated:  these documents are pretty heavy reading, and sometimes are largely meaningless to the laymen.  At their heart, however, they contain admissions (with lots of detail) by the employees who were directly involved, in all of the most damaging,dishonest and sometimes downright fraudulent practices, which, unfortunately, are or have been widespread in the mortgage industry.

The robo signing scandal virtually shut down the nation's entire foreclosure machine in the fall of 2010.  Officials in at least three states say the illegal practice continues.

HERE ARE SOME OF THE WAYS IN WHICH ROBO-SIGNING CAN WORK:

—An entry-level employee with little or no banking experience signs off on mortgage-related affidavits without verifying whether the bank owns the loan or whether the homeowner owes the debt.

—A notary stamps the document even though the notary wasn't present at the time the document was signed. The notary signature might also be different that the one on file with the agency that licensed the notary.

—A qualified bank employee signs his name using numerous titles on behalf of more than a dozen different financial institutions.

—In all of these cases, robo-signing involves people signing documents and swearing to their accuracy without verifying any of the information.

Contact Us Today

Contact us today and receive a free consultation for any of our real estate, foreclosure defense, personal injury and civil litigation services.

Anderson & Brodersen, P.A.

7116 Gulf Boulevard, Suite D

St. Pete Beach, Florida  33706

(727) 363-6100

(727) 363-6116 fax

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Patricia Fields Anderson, Esq.

Pat has represented clients in Pinellas County Courts since 1982, and has taken a special interest in real estate law and the defense of mortgage foreclosure cases.

AV rated by her peers, Pat is licensed to practice before all Florida courts, the Federal Court for the Middle District of Florida, and the United States Supreme Court.

Thomas A. Brodersen, Esq.

Tom has extensive industry experience in real estate law, brokerage, and mortgages.  He urges you to consult a real estate attorney early in the process, before you sign a listing or sale contract, as decisions made in these early stages can profoundly affect your rights throughout the process of buying and selling, and, once made, can seldom be reversed.