Illinois AG continues fight against banks, files suit against Title company citing mortgage fraud!

[dixiegrrrrl]

Why is this important?
Because the company.. "

provides a range of mortgage loan services to eight of the top 10 lenders and mortgage servicers in the country.

NTC specializes in creating, processing and recording mortgage assignments, which are often used for a lender to foreclose on a borrower. "

Attorney General Alleges Faulty Practices in Foreclosing on
Homeowners in Crisis

Chicago — Attorney General Lisa Madigan today filed a lawsuit against Nationwide Title Clearing for filing faulty documents with Illinois county recorders. Nationwide Title Cleaning Inc. (NTC) is a Florida-based company that prepares documents for mortgage servicers to use against borrowers who are in default, foreclosure or bankruptcy.

“The practices that NTC used were a key contributor to the mortgage crisis by undermining the integrity and accuracy of the mortgage servicing and foreclosure process,” Attorney General Madigan said.

NTC provides a range of mortgage loan services to eight of the top 10 lenders and mortgage servicers in the country
NTC specializes in creating, processing and recording mortgage assignments, which are often used for a lender to foreclose on a borrower.
The lawsuit, filed in Cook County Circuit Court, alleges numerous violations of the Illinois Consumer Fraud and Deceptive Practices Act and the Uniform Deceptive Trade Practices Act. Madigan is asking the court to require NTC to review and correct all documents it unlawfully created and recorded in Illinois, and pay back all revenues, profits and gains achieved in whole or in part due to unlawful practices. The suit also asks the court to impose civil penalties against the company.
http://illinoisattorneygeneral.gov/pressroom/2012_02/20120202.html

Also, note this:

She also sued Standard and Poor's, and sued Citywide, in other cases, and now has an active case against Morgan Stanley!

[jody]

1. If states had the powers our Constitution was supposed to protect under the 10th Amendment

then at least each state could protect its citizens against rape and pillage of the corporatists who stole the federal government from We the People.

Background reading at DU thread Thomas Jefferson-James Madison and the Kentucky and Virginia Resolutions

[FreakinDJ]

2. Thank God some one is standing up for American Working Class Families

[madrchsod]

3. she`s one of the few politicos in this state....

that actually gives a shit about the people.she`s gone after dangerous toy manufacturers and help establish consumer protection laws.

[ms.smiler]

4. Dixiegrrrrl - and this is why I filed a Quiet Title action.

Mortgage securitization created gaps and breaks in the chain of Title so there are no legitimate documents. This is why document mills exist, to fraudulently recreate the mortgage loans in favor of the banks and their mortgage servicing companies that never funded the loans in the first place.

Once I understood securitized mortgages, I realized that my mortgage payments would never obtain for me a valid Deed and clear Title. Moreover, like so many other mortgages, my 30 year fixed rate mortgage contained fraud.

Then the banksters filed not one but two of those fraudulent documents on my property, so of course I sued.

I’d like homeowners to develop an understanding of securitized mortgages, as well as understand that the same invalid and fraudulent documents that are filed in foreclosure suits and the land records are also filed in the land records when homeowners refinance or pay off their mortgage loans.

I’ve spent hours and hours searching land records in dozens of counties across the country and it is accurate to declare that the banksters have absolutely trashed our property records.

I’m so very pleased that Attorney General Madigan has filed suit against this document mill. I haven’t yet read the Complaint but it appears that the Attorney General wants to correct their land records. That is something that will actually need to be done in every state of the union.

Interview with Register of Deeds John O’Brien, Southern Essex County, Massachusetts – an audit of his records determined that 75% of Assignments were invalid.

http://video.msnbc.msn.com/nightly-news/45526910


I’ve been researching mortgage/foreclosure fraud for 3½ years. I filed suit against my mortgage servicer and the trial is presently scheduled for May.