The Laundry Man by Kenneth Rijock ( Penguin/Random House UK)

Tuesday, September 22, 2020




This blog shall continue to report on the financial criminals who are hell bent on making Americans homeless. If you have not previously read our coverage of Fay Servicing , you are invited to visit our prior article here:

We, every day, are learning even more about how vulnerable American homeowners, particularly Seniors, are to dishonest mortgage companies. Most states have laws against filing false documents with the courts; there is even a Federal Statute on point. See 8 United States Code §1324(c) - Penalties for Document Fraud. Falsifying documents is a criminal offense when it involves the alteration, correction, modification, delivery or possession of a document when conducted for an unlawful purpose. While it is considered a white-collar crime, it is known by different names, depending upon the state. It may also be included a part of other collateral crimes. The falsification of documents is a felony under state law.  

Allow us to explain. Let's say your unethical mortgage company has decided it no longer wishes to wait for the balance of your 30-year mortgage, which you have been faithfully paying on time for the past 20 or 25 years.

The First Step in the fraudulent plan to steal your home, and deprive you of your life's largest asset, begins with illegal practices at a company such as Wells Fargo  Mortgage, where the firm actually took action against borrowers, notwithstanding that they always made all their payments on time, only to learn later that the company was using illegal tactics and methods to increase its revenue, and even foreclose upon their homes, by committing fraud and unconscionable acts. One recent article that deserves your attention is here: sure-pay-his-

The Second Step: Once the lender has created a fraudulent dispute on the target homeowner's mortgage account, the mortgage in question is bundled up with others, and sold to an unscrupulous third party debt collector. In this case, it was Fay Servicing, described by observers as a racketeer-influenced corrupt organization (RICO), notoriously known for having a staff that lies to its customers, frequently deceives them, fabricates bogus loan documents, and pads mortgage accounts with all types of excessive and fraudulent fees, thereby forcing the homeowners into bankruptcy court, to protect their homes from foreclosure.

In Step Three,  the homeowner is granted a Stay by the Bankruptcy Judge, with an affordable payment plan, created by the Court and the Trustee. Two senior Fay Servicing officers, President Kimberly Bingham and Vice President Ryan Finnigan have been reportedly instructing their employees to file a false Proof of Claim, in the Chapter 11 or Chapter 13 filing, asserting an higher number of the principal loan balance. This forces the homeowner to a higher, and unaffordable, payment, and where the case is later dismissed, making the property vulnerable to the illegal foreclosure scam without allowing the borrowers any workout options to save their homes.

We note that this practice is a violation of 18 U.S.C. 152(4). Fay Servicing, its executives, employees and debt collection attorneys, who are fully aware of their filing of false Proofs of Claim, continue to file the same fraudulent documents with local courts, to pursue their unlawful foreclosures. Cloaking themselves under the name Wilmington Trust, N.A., as Trustee for MFRA Trust, the victims may never know who actually holds their note and mortgage. Readers are directed to review the multiple state and Federal decisions holding that MFRA foreclosures were based upon fraudulent and untrustworthy documents and filings; a number of those cases, including appellate decision, denied foreclosure.

Moving on to Step Four;  Fay Servicing, knowing very well that the homeowners targeted by their fraud are on financial life support, its attorneys finish the job by quickly foreclosing on the victims' homes, often while they are lying critically ill in hospital beds.Deceptive Mortgage Servicing Company Fay Servicing Exploits and Cheats Borrowers. 

Whereas, most individuals who commit Document Fraud are charged with a felony, as it is a crime to knowingly file, register, or record a false or fraudulent document with the courts of any public office within any state, Fay Servicing has consistently and repeatedly broken state or Federal law. with impunity, and just successfully foreclosed upon your home. 

The final insult: those same attorneys who just unlawfully foreclosed upon your home, will quickly contact you, their victim, via a proxy and unscrupulous business name, set up within the dark operation of their law firm, to begin offering the already ripped-off, stressed-out and depressed homeowner post-foreclosure assistance, at an exorbitant fee. In truth and in fact, the crooks have no genuine intention of helping the homeowner that they just scammed; it is only another ploy to trick and threaten the homeowner into surrendering their home, while enriching their pockets by double-dipping the gullible homeowner after they have stolen his home.

Somehow, Fay Sentencing, through all its unethical and dishonest conduct, seems to have operated above the law, while making hardworking borrowers homeless. We sincerely hope that the various state Attorneys General, the executive Office for US Trustees, and other law enforcement agencies take action to terminate these illegal activities. 


For Further reading:

Meet Fay Servicing's Foreclosure Pit Bull in Florida 

deceptive Mortgage Servicing Company Fay Servicing Exploits and Cheats Borrowers






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