I have been fighting an illegal foreclosure on my home as a result of Mortgage Servicing Fraud for six years now. I am one of more than 280,000 Federal Trade Commission - certified victims of a mortgage servicer named Fairbanks Capital Corp n/k/a Select Portfolio Servicing Inc. I've never been one to play well at politics and realizing that, I don't try to. I am simply trying to bring some much needed attention to the fact that Mortgage Servicing Fraud exists and has existed probably since shortly after Lewis Ranieri began trading residential mortgage backed securities. That being the case, Mortgage Servicing Fraud is NOT the same as predatory lending. Predatory lending is an origination issue and, as mentioned, Mortgage Servicing Fraud is a securitization issue. Quite literally anyone with a mortgage can end up a victim of Mortgage Servicing Fraud simply because the vast majority of mortgages are bundled into some form of RMBS and led off to Wall St. for slaughter. I'm just the guy with the big mouth who isn't ashamed of the stigma that is automatically attached to someone when their name is mentioned in the same sentence as "Foreclosure". What has happened to me can, and does, happen to literally anyone with a mortgage.
Revised slightly in an attempt to keep the focus of the message on point. Original posted at www.BlueHampshire.com.
I'm "the other guy" that Senator Clinton spoke about during the first minute and a half of her speech in Derry, NH Tuesday, August 8th.
I wasn't at all impressed with Senator Clinton's solutions for the current foreclosure issues that the country is facing. Frankly, I've heard the majority of what she suggested in previous years. To be honest, I was extremely surprised that I was invited to meet with Senator Clinton given the fact that she has taken PAC money from the majority of entities that I have named as defendants in a $13.5 million civil RICO action as a result of an illegal foreclosure that was attempted on my home for the last six years. Three of the entities (PMI Group, Merrill Lynch, LaSalle Bank) have already been named as defendants, a fourth entity (CSFB) to be named shortly, and the fifth (Fairbanks Capital/Select Portfolio Servicing) previously owned by PMI and purchased from them in '05 by CSFB.
The reason for this litigation is due to a now six year battle against an illegal foreclosure, caused in turn, by mortgage servicing fraud which has little to do with predatory lending. I am one of more than 280,000 Federal Trade Commission-certified victims of Fairbanks Capital Corp. n/k/a Select Portfolio Servicing Inc. as certified in USA/Curry v. Fairbanks. Predatory lending is an origination issue while Mortgage Servicing Fraud is a securitization issue. If Senator Clinton or the staff with whom I met and spoke had any clue as to what we were describing they never gave any indication.
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