State of Nevada Brings 606 Count Indictment against Two Alleged Robo-signers – Including 404 Felonies

State of Nevada Brings 606 Count Indictment against Two Alleged Robo-signers – Including 404 Felonies

By Daniel Edstrom
DTC Systems, Inc.

The indictment is 440 pages long and contains 606 counts against two individuals.  102 misdemeanors and 204 felonies against one person and 100 misdemeanors and 200 felonies against a second person.  It sure seems to me that in a case like this involving recorded documents that mail fraud would be involved.  This is because usually the recorded documents are sent through the mail.

Many, if not all of the documents involved in the indictment are Notices of Default.  If these are forged documents, how can the non-judicial foreclosures have been strictly complied with?  Of course I am not a lawyer, but it would sure seem to me that any document recorded after the Notice of Default would also be void.  But who knows, maybe there is another law that says if the parties performing a non-judicial foreclosure commit 1 misdemeanor and 2 felonies you still lose your house.  This seems unlikely since most non-judicial foreclosure states usually call for strict compliance with the non-judicial foreclosure statutes.

One notary has already pled guilty to one count of notarizing the signature of an individual not in her presence.

http://dtc-systems.net/wp-content/uploads/2011/11/robosignnotarypleading.pdf

http://dtc-systems.net/wp-content/uploads/2011/11/TracyLawrenceCriminalInformation.pdf

Title Crisis

Title Crisis

By Daniel Edstrom
DTC Systems, Inc.

If you thought this was a foreclosure crisis brought about by the Mortgage Meltdown, you would be wrong.  If this were a foreclosure crisis only those in foreclosure would be the ones having problems.  And only those loans in foreclosure would be the ones having title issues and “robo-signer” issues.  I cannot say this loud enough: FORECLOSURE IS NOT THE PROBLEM.  Homeowners not making payments is not the problem.  “Freeing up” credit to stimulate lending is not the problem.  If you didn’t get a subprime loan, and yours is a 30 year fixed, you are at risk of a clouded title almost as much as anyone in foreclosure.  In fact, if you have refinanced or purchased your house from 2000 or later, you could easily have a defect in title.  Since I am not a lawyer and can only give myself legal advice, I will only discuss my own case.  And of course these are only my opinions based on my knowledge, education, training and research.  Apparently my title company thinks my title is good.  I know because somebody asked them and they said it was good.  At the end of the article I will explain why they would say that.  What they meant to say was “Everything is great because we, as a title company, are not at risk at all based on our review of your title”. Continue reading “Title Crisis”

Foreclosure Mills Continue Down the Wide Path of Destruction

Foreclosure Mills Continue Down the Wide Path of Destruction

By Daniel Edstrom
DTC Systems, Inc.

We have already talked about the foreclosure mills the Law Offices of David J. Stern PA and Ben-Ezra & Katz PA and NDEx West (owned by Dolan Media) with its doppelgänger foreclosure mill law firm, Barrett Daffin Frappier Turner & Engle.  Now we turn our attention to Shapiro & Burson apparently out of Maryland.  As stated on livinglies.wordpress.com (and originally from 4closurefraud.org), The Baltimore Sun’s Jamie Smith Hopkins reports that 1,000 or more Maryland deeds are likely forgeries that were created by a foreclosure mill (the law firm of Shapiro & Burson).  It turns out that last year two other law firms in Maryland admitted they had forged signatures on foreclosure documents in a similar manner (Bierman Geesing & Ward along with Covahey Boozer Devan and Dore).  I have already shown that NDEx West (owned by Dolan Media) along with Barrett Daffin Frappier Turner & Engle does the same thing.  This is very easy to show for just about any foreclosure mill.  Here is how.  Just go down to the recorders office and pull up 20 documents in each of the last 3 or 4 years naming your favorite foreclosure mill (NDEx West or whoever).  The chances of you not finding one forgery are probably close to 0%.  The chances of you finding multiple forgeries is very high (99%+). Continue reading “Foreclosure Mills Continue Down the Wide Path of Destruction”

Split: The Note and the Deed of Trust (Redux)

The Note and Mortgage are split in judicial states the same as the Note and Deed of Trust in non-judicial states.

Split: The Note and the Deed of Trust (Redux)

by Daniel Edstrom

The Note and Mortgage are split in judicial states the same as the Note and Deed of Trust in non-judicial states.

The first issue is that the note was sold in 2005 but the Deed of Trust appears to have been left behind.  For the uninitiated, if the Note and Deed of Trust are split, this causes a nullity.  A nullity means the security interest is lost and the debt becomes unsecured.  In securitization this is standard operating procedure and is one of the issues that we are left to face.  Upwards of 60,000,000 homes may be unencumbered leaving those who own the notes on these houses with no power of sale.  And more considering MERS wasn’t the only party involved in splitting the note from the security instrument.

Who owns these loans if they are unsecured?  That was the whole purpose of creating the securitization diagram in the first place.

The result?  More questions, few answers. Continue reading “Split: The Note and the Deed of Trust (Redux)”