Tag Archives: LPS

The institutional manufacturing of the foreclosure process

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October 21, 2019. By Douglas Boggs

The institutional manufacturing of the foreclosure process begins with the servicer advising the borrower to stop payments to make sure it puts them in a better position for a modification. So, the servicer advises a homeowner to fall behind on their payments in order to qualify, if they wish to obtain any government sponsored relief. The distressed homeowner does as advised and falls behind in order to qualify for the government sponsored mortgage relief program and is subsequently placed in default. This is textbook and this common process has happened to millions of people across the United States.

The Servicer immediately cashes a credit default swap for some percentage of the mortgage balance and has some split with the investor. Now, make a note that the investor’s are those who invest in mortgage backed securities(MBS) and hedge funds that untilize MBS’s as investment vehicles. They are the owners of the note once the note is securitized. Also note, that if they are the owners of the note, this means that the chances that the foreclosing party holds a near 90% chance that they hold absolutely NO right to foreclose. But, this is a differentt story for later and some of which I have previously posted herein this blog. Ok, moving on now, then the servicer would send 10 or 15 sets of mortgage modification applications to the homeowner and collect payments of $300 each under their HAMP servicing agreement with the fed.

Following this, they offer a trial modification to the homeowner and promise that it will convert to a permanent modification if the homeowner makes all of their payments on time. The bank loses the paperwork 3 or 4 times and charges the fed each time they process a new application and charges the fed again for sending the 3 new applicatons to the homeowner.

The homeowner is approved for the temporary modification and starts paying the narrowly reduced payments while the servicer dual tracks the homeowner for foreclosure and hires LPS, the parent company to LSI Title to file some fraudulent assignments in the name of the deceased bank the servicer bought the servicing rights from (countrywide, world savings, indymac, whoever) .

The servicer shoplifts the temporary payments while the homeowner thinks they are going to the mortgage-backed-security(MBS) towards P&I thus putting the homeowner further behind, allthewhile fucking their own MBS investor. The servicer gets paid a fee by the fed for servicing the temporary mod under their HAMP servicing agreement. The servicer denies the modification and forecloses on the property and collects a fee from the investor for servicing the foreclosure and collects an 80% FDIC loss share payment from the FDIC which it splits with the investor.

The house is sold, usually to a company that buys foreclosure properties in bulk for less than their retail value which is done to manipulate the real estate market, and the investor recovers the REO value less the banks REO sale fee.  The company that buys the foreclosed property works with the servicers in order to manipulate the market as a whole. In my case, I found a corporate maze of over a dozen corporations tied to two individuals that use this process to hide assets. The judge was privy to this and quite friendly to the party in question. Perhaps on the take, or perhaps they play golf. However, well versed with each other.

The Non Judicial foreclosure process is a fast food style of law where the Unlawful Detainers get stream lined and rubber stamped by the Judges because the Judges are making a profit on each property in the process as a percentage to look away.

The only reason any of this could take place is due to the fact that the Legislation changed the Servicing powers and the ability to transfer the trusteeship of the Deed of Trust. The Registrars and everyone else mistook this legislation to mean that the Trustee can be reassigned by the Beneficiary or Servicer and possess the rights of the primary Trustee named on the Deed of Trust that was originally signed by all of the parties.

The illegal government rubber-stamped dismantling of the middle class. How can you ever stop a ruling class from doing something that is this lucrative???

So, to do a short recap. There are branches of the Wall Street financial institutions that are manipulating the mortgage back security markets, collateralized debt obligation markets, paying off the Security rating agencies. The government is complicit in the manipulation of the real estate markets, the modification programs, the rating agencies, the Security and Exchange Commission, and the FDIC. The Wall Street financial institution then work the other side of the con with the large foreclosure firms that are in bed with the judicial system. The back door payments to the judges, or as the padding of their retirement pension funds through the financial institutions, the justice system looks the other way. All of this happens when a borrower signs for a mortgage loan. Despite the fact that the financial institution is not even actually lending any money to the borrower, but simply manipulating the monetary process in its spreadsheet.

Little does the homeowner know that their signature also allows the trustee, who is partners with the financial institutions, to be able to steal their home any time, any day, no matter what. You think your home can’t be taken even if you are current on your mortgage payments, you a gravely mistaken. If you think your home can’t be taken from you even if you paid CASH, you are gravely mistaken. This is done through the systemic unregulated fraud that the financial institutions and the government are fully cognizent of and are complicit in order to work at such a massive systemic level. The legislation allowed this illegality to transpire, despite the settled (1978) CA Supreme Court decision that the trustee is to be independent of the transaction between the borrower and the lender. So, the government complicity is paramount from legislative to justice.

The fallout is not simply the defrauded homeowner. The economic fallout are the hundreds of millions of dollars that the County Registrars across the nation are defrauded from through the creation of MERS. The bailouts for the financial institutions will continue, plus they write off the legal penalties for the taxpayer cover. The tax payer feels a bit better when the banks are penalized for millions, only to find it hidden in the “make America great again” tax overhaul for the wealthy. Steve Mnuchin was previously a foreclosure king if you didn’t recall.

Nothing has changed. It all has become more streamlined from Wall Street, through the White House, onto the floor of the house, and “trickling down” into the Main Street U.S.A.’s across the country. The writing is on the walls of justice that the world is still turning the way the system was designed to do, as the Trump administration and the Supreme Court is looking into the constitutionality of the Consumer Finance Protection Bureau.

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I welcome those reading my blog. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

©2014-2019 Doug Boggs All Rights Reserved

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Money laundering and tax evasion at the highest level

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We are finding that through Deutsche Bank, Goldman Sachs, Wells Fargo, Bank of America, and others that money laundering and tax evasion are happening at the highest levels.

TransCentra, is an independent and privately owned corporation. One might say it is a DISC corporation(*). Is it a platform banks use for money laundering and tax evasion disguised through subsidiaries, Servicers, and bogus CDO’s fueled through the US housing market…? 

Here is a snippet from their website on the “About Us” page:

“TransCentra helps you transform your critical treasury operations through innovation, automation, a deep understanding of financial processes, and a single-minded commitment to delivering improved outcomes. We achieve treasury impact by intelligently applying software and services that improve visibility into your corporate cash cycle, increase the efficiency of your billing and payment processes, and reduce the costs of your treasury activities.”

Here is an inside view of how a scheme might go:

A large financial organization registers a CDO. Basically, a CDO is simply a shell company located somewhere like the Cayman Islands. The company is funded with money from investors who transfer funds into the CDO through companies like TransCentra. Most of the time these funds come from unidentified investors for anonymity and tax evasion assistance.

TransCentra offers payment processing services for financial institutions. They also offer remote deposit and mobile deposit technologies. Another means of creating one more smoke and mirror to this process is Private Label Processing Solutions. This helps their client achieve their goals and objectives through the largest outsourced payment processing network in the United States, called Transaction Management System (TMS).

Using these technology firms such as BlackRock, Lone Stary, BlackStone will be wired money through TransCentra from the larger financial corporations. The BlackRock’s, Lone Star’s, and BlackStone’s of the world then pass it to subsidiaries such as PennyMac, Bayview, Caliber who then in turn sell bogys CDO’s and derivatives to institutional investors such as large pension funds. These funds in turn go on to claim enormous returns from defaulted loans.

These subsidiaries – Caliber, PennyMac, Bayview, then pass it on in the form of credit to smaller lenders who impersonate as actual “lenders” who give you money for the mortgage. Although the wire at the closing likely came from an impersonator-lender, the actual sender would probably be using TransCentra’s platform to hide its identity. 

When borrowers start to make payments, “Servicers” who are rotated through data management companies like Black Knight(aka LPS-DocX) who’s position is to collect checks and deposit it into TransCentra accounts for a benefit of a “within payee” and without prejudice. This simply means that TransCentra should not be held liable for banks fraud if the borrower discovers this scheme. 

At the same time, banks need to accelerate borrower’s actual default. They use various methods which, in my case, it was the filing of fraudulent documents in a non-judicial foreclosure procedure in order to bypass the timelines of the foreclosure process and to quickly and fraudulently foreclose on me. It is done to hundreds of families every day. Other situations might include lost payments; added late fees for no reason, manipulations with escrow accounts; junk insurances; short payment deadlines; Flood insurance, to name a few. 

So, mortgage payments are collected by a payee whom borrowers are not suppose to know; and definitely not for the benefit of any Government Sponsored Enterprise(GSE). 

These funds can be safely transferred through TransCentra back to the Cayman Islands and distributed to anonymous (offshore shell companies – corrupt politicians) investors. These inverstors do not want wait 30 years while American borrowers pay their loans. they need money laundered faster, preferably in 3-5 years. 

These kinds of transactions continue to date and were a direct link to the 2008 “crisis”. The signals are showing once again that we are raedying for a new collapse. I believe will be much more intense than before.

(*) FROM Wikipedia:

*A DISC is a U.S. corporation which has elected DISC status and meets certain other largely symbolic requirements.[1] A corporation so electing is not subject to U.S. Federal income tax.[2] Properly structured, a DISC has no activities other than on paper and no activities not related to the export of qualifying goods.[3]
Mechanism for benefit: A DISC contracts with a producer or reseller of U.S. made goods or provider of certain qualifying construction-related services to provide “services” to such related supplier for a fee. The fee is determined under formulas and rules defined in the law and regulations.[4] Under these regulations, the fee is deductible by the related supplier and results in a specified net profit to the DISC. This net profit is not subject to Federal income tax. The DISC then distributes the profit to its shareholders, who are taxable on the income as a qualified dividend.[5] If the shareholders are U.S. resident individuals or others eligible for the reduced rate of tax (now between 0% and 20%, depending on ordinary income level) on qualified dividends, then the tax rate on the income allocated to the DISC is reduced.
The pricing rules in the law and regulation are independent of the transfer pricing rules normally applicable to transactions between related parties. Thus, DISC profits are not dependent on the economic contribution of the DISC, and a DISC need have no substance.
Since a DISC has no substance, implementation and maintenance is fairly easy. Complexities can arise, however, in making calculations of the permitted DISC income due to rules designed to help maximize the subsidy.[6] These rules include a “no loss” rule, overall profit percentage, grouping, marginal costing and other techniques, use of which may be improved by software tools.
Additional substantial rules apply.[7]
DISCs were challenged by the European Community under the GATT. The United States then counterclaimed that European tax regulations concerning extraterritorial income were also GATT-incompatible. In 1976, a GATT panel found that both DISCs and the European tax regulations were GATT-incompatible. However, these cases were settled by the Tokyo Round Code on Subsidies and Countervailing Duties (predecessor to today’s SCM), and the GATT Council decided in 1981 to adopt the panel reports subject to the understanding that the terms of the settlement would apply. However, the WTO Panel in the 1999 case would later rule that the 1981 decision did not constitute a legal instrument within the meaning of GATT-1994, and hence was not binding on the panel. The Foreign Sales Corporation (FSC) was created in 1984 as an alternative to the DISC. In 1984, partially in response to international pressure, also amended the rules applicable to DISCs to provide that a DISC and its shareholders could continue to defer tax on the DISC’s income, but only if the DISC shareholders paid interest on the deferred tax.[8]


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I welcome those reading my blog. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

©2014-2019 Doug Boggs All Rights Reserved

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Does this sound about right….

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Does this sound about right….

This following is one of the most common stories throughout the United States that you will hear when discussing someone's personal foreclosure story .

“… all of this started with the servicer telling us to stop payments to make sure we would be in a better position for a modification.  We were current on our mortgage, however, were discussing our personal financial issues that we saw coming up on the horizon for us that concerned us and we were trying to make arrangements.”  The servicer tells a homeowner to go behind if they wish to obtain any government sponsored relief.  Homeowner goes behind and is now in default.  A judicial foreclosure or a non-judicial foreclosure begins.

The Servicer immediately cashes a credit default swap for some percentage of the mortgage balance and has some split with the investor.  Then they send 10 or 15 sets of mortgage modification applications to the homeowner and collect payments of $300 ea under their HAMP servicing agreement with the fed.  Then they offer a trial modification to the homeowner and promise that it will convert to a permanent mod if the homeowner makes all of their payments on time.  The bank loses the paperwork 3 or 4 times and charges the fed each time they process a new application and charges the fed again for sending the 3 new applicatons to the homeowner.  Less than 3% of the time. the homeowner is approved for the temporary modification and starts paying the narrowly reduced payments while the servicer dual tracks the homeowner for foreclosure and hires LPS, the parent company to LSI Title to file some fraudulent assignments in the name of the deceased bank the servicer bought the servicing rights from (countrywide, world savings, indymac, whoever).

The servicer shoplifts the temporary payments while the homeowner thinks they are going to the MBS towards P&I thus putting the homeowner further behind and fucking their own MBS investor. The servicer gets paid a fee by the fed for servicing the temporary mod under their HAMP servicing agreement. The servicer denies the modification and forecloses on the property and collects a fee from the investor for servicing the foreclosure and collects an 80% FDIC loss share payment from the FDIC which it splits with the investor. The house is sold, and as in our case to a company that buys foreclosure properties in bulk for less that their retail value which is done to manipulate the real estate market, and the investor recovers the reo value less the banks reo sale fee.  The company that buys the foreclosed property works with the servicers in order to manipulate the market as a whole.  The Non Judicial foreclosure process is a fast food style of law where the Unlawful Detainers get stream lined and rubber stamped by the Judges because the Judges are making a profit on each property in the process as a percentage to look away.

The only reason any of this could take place is due to the fact that the Legislation changed the Servicing powers and the ability to transfer the Trusteeship of the Deed of Trust.  The Registrars and everyone else mistook this legislation to mean that the Trustees can be reassigned by the Beneficiary or Servicer and possess the rights of the primary Trustee named on the Deed of Trust that was originally signed by all parties.

The illegal government rubber-stamped dismantling of the middle class. How can you ever stop a ruling class from doing something that is this lucrative???

* * * * * * * * * *

I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

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