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Same Person Forged Billions of Dollars Worth of Mortgage Documents for Bank of America, Wells Fargo, U.S. Bank and Dozens of Other Lenders and Shells

George Washington's picture




 

The Washington Post notes:

 

In
Georgia, an employee of a document processing company, Linda Green, for
years claimed to be executives of Bank of America , Wells Fargo, U.S.
Bank and dozens of other lenders while signing off on tens of thousands
of foreclosure affidavits. In many cases, her signature appeared to be
forged by different employees.

 

Green worked for a foreclosure
document company owned by Lender Processing Services. The company is
being investigated by a U.S. attorney in Florida for allegedly using
improper documentation to speed foreclosures.

 

Lenders have already started to withdraw foreclosures that had Green's name on them.

 

Green also submitted to courts documents that listed "Bogus Assignee"
as the owner of a mortgage instead of the real name. In another case,
she signed as the vice president of "Bad Bene," a made-up company.

***

 

"There
are procedures to be followed in order to get a foreclosure, and you
either get it right or not. Either you're pregnant or not. There's no
in-between," [Arthur M. Schack, a Kings County Supreme Court judge in
Brooklyn,] said

Foreclosure attorney Lynn Szymoniak located numerous signatures of "Linda Green" from pleadings filed in various courts.

StopForeclosureFraud.com has rounded up some examples of "Linda Green's" signatures in one image:

In February 2010, 4ClosureFraud.org posted one of Green's signatures on an assignment of title to "Bogus Assignee":

 

Szymoniak pointed out in July:

There are examples of the many different Linda Green signatures/forgeries. Green’s “signature” appears on HUNDREDS OF THOUSANDS of mortgage assignments – as an officer of at least 20 different banks and mortgage companies.

 

Doing the Math

 

The
total mortgage loan amount on 500 “Linda Green” Mortgage Assignments
is $126,956,912, or approximately $125 million for each 500
Assignments. The average output of Assignments from the Docx office in
Alpharetta [Green's actual employer], Georgia in 2009 was 2,000
Assignments per day.

 

This would be equivalent to (4 x $125
million) or $500 million each day. Assuming that Docx operated 5
days a week for 51 weeks (allowing for holidays), the office was open,
producing Assignments, 255 days. It
is likely that the Linda Green/Docx crew prepared and filed Mortgage
Assignments showing One Hundred Twenty-Seven Billion, Five Hundred
Million ($127,500,000,000) in mortgages were Assigned in 2009.

Remember also that Mortgage Electronic Registration Systems - which Green repeatedly signed for - is itself a shell company which holds 60% of all American residential mortgages.

DocX is also the company which published price lists for forging documents, including such gems as:

"Create Missing Intervening Assignment" $35

"Cure Defective Assignment" $12.95

"Recreate Entire Collateral File" $95

Given
the above, it is clear why the Florida Attorney General has issued a
subpoena to Linda Green's real employer - DocX - requesting the
following documents:

2. Copies of any and all
underlying documentation that allows for your employee or ex-employee,
Linda Green to sign documents in the following capacities:

 

a. Vice President of Loan Documentation, Wells Fargo Bank, N.A. successor by merger to Wells Fargo Home Mortgage, Inc.;

 

b. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for American Home Mortgage Acceptance, Inc.;

 

c. Vice President, American Home Mortgage Servicing as successor-in-interest to Option One Mortgage Corporation;

 

d. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for American Brokers Conduit;

 

e.
Vice President & Asst. Secretary, American Home Mortgage
Servicing, Inc., as servicer for Ameriquest Mortgage Corporation;

 

f. Vice President, Option One Mortgage Corporation;

 

g. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for HLB Mortgage;

 

h. Vice President, American Home Mortgage Servicing, Inc.;

 

1. Vice President, Mortgage Electronic Registration Systems, Inc. as nominee for Family Lending Services, Inc.;

 

J. Vice President, American Home Mortgage Servicing, Inc. as Successor -ininterest to Option One Mortgage Corporation;

 

k. Vice President, Argent Mortgage Company, LLC by Citi Residential Lending, Inc., attorney-in-fact;

 

1. . Vice President, Sand Canyon Corporation f/kJal Option One Mortgage Corporation;

m. Vice President, Amtrust Funsing (sic) Services, Inc., by American Home Mortgage Servicing, Inc., as Attorney-in -fact;

 

n. Vice President, Seattle Mortgage Company.

 

3. Copies of every document signed in any capacity by Linda Green.

Subpoena DT to Docx L.L.C

Of course, its not just Linda Green.

As Szymoniak points out:

 

The offices of Lender Processing Services in Mendota Heights, Minnesota, seems likely to also have produced 2,000 Assignments each working day.

 

Jeffrey
Stephan from the GMAC offices in Montgomery County, Pennsylvania also
is likely to have produced 2,000 Assignments each day.

 

Bryan Bly of Nationwide Title Clearing also is likely to have produced 2,000 Mortgage Assignments each day.

 

Scott Anderson of Ocwen Loan Servicing in West Palm Beach, Florida, almost certainly produced an average of 2,000 Assignments a day.

 

Herman John Kennerty of America’s Servicing Company in Ft. Mill, South Carolina, also is likely to have produced 2,000 Assignments each day.

 

Erica Johnson-Seck was almost certainly producing Assignments at this same level for IndyMac.

 

Christina Trowbridge, Whitney Cook, and Stacy Spohn of Chase Home Finance in Franklin, Ohio likely had the same output.

 

Keri
Selman and Renee Hertzler of BAC Home Loan Servicing (formerly
Countrywide) in Texas almost certainly produced an average of 2,000
Assignments a day.

 

If these nine offices each produced 2,000
Assignments a day, the value of the Mortgage Assignments filed by all
nine offices in 2009 was One Trillion, One Hundred Forty Seven Billion, Five Hundred Million ($1,147,500,000,000).

 

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Thu, 10/14/2010 - 17:39 | 650852 idea_hamster
idea_hamster's picture

Someone simply has to post an image of a loan doc with the place-holder text "Bogus Assignee" in it.

That's a level of fail that out-fails even epic fail.  We would need the whole ST:TNG cast to facepalm together to do that justice.

Fri, 10/15/2010 - 02:17 | 651968 merehuman
merehuman's picture

.

Thu, 10/14/2010 - 18:18 | 650957 minosgal
Fri, 10/15/2010 - 12:57 | 653219 idea_hamster
idea_hamster's picture

Oh, so brilliant!

Thu, 10/14/2010 - 17:34 | 650833 LeBalance
LeBalance's picture

'Twas merely one rotten apple, Linda Green!

Can we get back to biz as usual?

/sop/

Thu, 10/14/2010 - 17:33 | 650831 Ragnarok
Ragnarok's picture

Does Linda Green even exist?

Thu, 10/14/2010 - 18:23 | 650968 Zerohedge fan
Zerohedge fan's picture

We couldn't find Urban Roman, remember?

It is like finding Obama birth certificate.

Mission Impossible

http://www.youtube.com/watch?v=k55NuWQCh78

Thu, 10/14/2010 - 17:45 | 650863 LeBalance
LeBalance's picture

**** me, the first T1000!

The message from Skynet being: "$$$$ You, @$$holes!"

Thu, 10/14/2010 - 18:19 | 650960 wintermute
wintermute's picture

Linda Green is the cyborg version of Linda Hamilton designed to spread mayhem amongst the mortgage-owning public.

Fri, 10/15/2010 - 02:14 | 651965 merehuman
merehuman's picture

will the real Linda Green please stand up!

I cant help it, her name makes me think of bernanke in a dress.

Thu, 10/14/2010 - 17:32 | 650828 A Nanny Moose
A Nanny Moose's picture

I think I understand now. All those signatures are essentially make work. Why not digitize the sigs and them to the docs programatically? Enter H.R. 3808 with provisions to make digital sigs acceptable? Am I close here?

Thu, 10/14/2010 - 17:39 | 650846 Geoff-UK
Geoff-UK's picture

Yes.

Also, the COCK-SLOBBING PUSSIES in the House and Senate (INCLUDING THE REPUBLICANS) passed this save-the-banks-again-with-my-tax-dollars bill by VOICE vote.

Ergo NO RECORDS ON HOW THEY VOTED on this.

http://www.govtrack.us/congress/bill.xpd?bill=h111-3808

Apr 27, 2010: This bill passed in the House of Representatives by voice vote. A record of each representative’s position was not kept.

Sep 27, 2010: This bill passed in the Senate by Unanimous Consent. A record of each senator’s position was not kept.

Thu, 10/14/2010 - 17:43 | 650860 LeBalance
LeBalance's picture

Each and every position was: bent over and accepting.

How else could it be?

Thu, 10/14/2010 - 17:32 | 650827 ThisIsBob
ThisIsBob's picture

Karma's a bitch.

Thu, 10/14/2010 - 17:31 | 650822 Boilermaker
Boilermaker's picture

You didn't actually think laws apply to banks...did you?

Makes me wonder how totally fucked student loans are also.  Those get passed around like a pack of Kools in prison also.

Thu, 10/14/2010 - 19:00 | 651078 sgt_doom
sgt_doom's picture

You know, Boilermaker, I fully agree with your sentiment but need to clarify that phrase "..passed around lake a pack of Kools..."

I hear something similar -- although I'm sure you are too well-informed to believe any of them -- from these so-called "academics" who have been seeded over the past 20 or 30 years at various educational institutions throughout the USA by way of the Bretton Woods Committee.

The other day I heard some moronic twit, the vice dean of the Columbia Business School (and a Professor of Real Estate --- THAT says it all!!!!), claim that the moratorium would hurt the mortgages from being traded back and forth.

And he used that phraseology, "mortgages traded" several times!

Nope, each loan, when mining down to through the details, was essentially sold thousands of times.  Not sold, then re-sold, but sold thousands of times.

And the same goes for those student loans, and auto loans, and credit card receivables, and commercial RE loans, etc., etc., etc.

This was how they ended up with sooooo much ultra-leveraging, allowing for soooo much ultra-leveraged speculation.

And add all those layers above that, CDSes, and baskets of CDSes (CSOs), and baskets of baskets of CDSes (CSO-squared), and previously those CPDOs, and variations of those, and those plus 3,000 categories of credit derivatives, and one begins to full understand the enormity of that exponential growth factor times exponential growth!

Thu, 10/14/2010 - 17:42 | 650857 LeBalance
LeBalance's picture

lol, you didn't actually think the laws applied to the folks who wrote the laws...did you?

Thu, 10/14/2010 - 17:28 | 650810 doomandbloom
doomandbloom's picture

This is what Dennis Kneale writes..

 

"Isn’t this just plain wrong?


You borrowed a few hundred large from a bank, bought a new home and started out paying interest on it and promised to pay it all back, eventually. And now you want to stay in the home, gratis, because someone lost the receipt?"

 

http://www.cnbc.com/id/39652537

Fri, 10/15/2010 - 05:30 | 652111 Azannoth
Azannoth's picture

Its bad when 1 side is playing a shell game(the banks) but when 2 sides start playing it(the borrower) than it's game over

Thu, 10/14/2010 - 19:13 | 651123 duncecap rack
duncecap rack's picture

I'm no fan of the banks but I also don't think the big screen t.v. ishit crowd should get free houses either. I think the original note should go back to where the chain was broken and the transfer should be ruled invalid at that point. The banks would have to refund the mbs buyers and the mbs buyers would surrender claim (with some adjustment for payments already made) the banks could then foreclose. It would probably bankrupt the banks but who cares? It is what they deserve for this debacle.

Fri, 10/15/2010 - 07:15 | 652163 Confused
Confused's picture

what a mess. 

Fri, 10/15/2010 - 03:40 | 652079 66Sexy
66Sexy's picture

no way its that simple. this will be a legal nightmare; and a boon for current defaulters living in their homes. good luck i guess; i wasnt so lucky.

Thu, 10/14/2010 - 17:38 | 650849 theopco
theopco's picture

I don't think so.

Not when the banks create 90% of the loan out of thin air, then get interest on the whole amount, then get the house if things go south, then get 80% of the loss on the original loan back from the taxpayer's grandkids.

 

 

Thu, 10/14/2010 - 18:52 | 651055 sgt_doom
sgt_doom's picture

+1 Trillion

Thu, 10/14/2010 - 17:41 | 650856 LeBalance
LeBalance's picture

Pardon, it is your promise to pay and the bank's promise to pay.  There is no impact on their "reserves" in any way.  Their return is infinite.

Thu, 10/14/2010 - 17:55 | 650882 theopco
theopco's picture

Oh, but allow me to retort:

http://www.zerohedge.com/article/morgan-stanley-abandons-5-san-francisco...

 

Not quite sure what you mean by "There is no impact on their "reserves" in any way.  Their return is infinite.", Unless you are agreeing with my point.

 

Thu, 10/14/2010 - 17:33 | 650830 Boilermaker
Boilermaker's picture

Why am I not suprised that the shit-eating-moron-king of CNBC doesn't know the difference between a reciept and a legal contract.

Thu, 10/14/2010 - 18:09 | 650927 Winston Smith 2009
Winston Smith 2009's picture

Exactly.  Who cares what Beaker thinks.  Excuse me, what Beaker spouts.  He obviously can't think.

Fri, 10/15/2010 - 03:34 | 652077 66Sexy
66Sexy's picture

aah, the smoking gun. caught red handed.

 

150 million dollar fine then biz as usual.

 

did your senator/congressperson take bribe money in the form of political contributions from the financial sector? go to opensecrets.org to find out.

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