Saturday, April 30, 2011

Bogus Mortgage Fees Exposed!

News Source:
By Heather Sullivan / CBS News Channel 7
Spartanburg, Greenvile, Anderson, S.C., Asheville, N.C.

People across the country are losing their homes in the mortgage meltdown. A leading attorney based in Western North Carolina says its often due to hidden and illegal fees on their mortgages. That's why he holds a Bankruptcy Boot Camp to teach other attorneys how to spot bogus fees. He shows you how you can spot them on your own mortgage, too, in this Seven On Your Side Consumer Watch.

Inside a quiet house on a hill in Polkville, North Carolina, attorneys are in basic training. It's called Bankruptcy Boot Camp. They're learning how to save homes from foreclosure.

The drill sargeant is attorney Max Gardner. "What we're trying to do is educate bankruptcy attorneys about how they can identify and find unlawful, illegal fees that have been charged to the loans of their clients."

Gardner says the fees are not usually charged by mortgage companies, but by the companies you send your payments to, the loan servicing companies.

Said Gardner, "It may be a fee for allegedly driving by your house once a month. ... It could be a fee for some legal service you didn't know about. It may be a late charge that is being added to your account when a late charge is not justified."

Inside the room where Gardner holds Boot Camp is what he calls the Wall of Shame, a series of framed checks he's won in cases against loan servicing companies. "We've got some checks up here for $300,000, $400,000, $50, $60, $75,000," points Gardner. He says the checks are from just about every loan servicing company out there. The fees start out small, but add up fast.

Said Gardner, "It can actually put somebody in default. They're mortgage obligation can go into foreclosure when they're not really in default and the pressure is on for them to do it more."

Attorney John LaRue traveled all the way from Indiana for Boot Camp so he can help his clients. Said LaRue, "We'll be able to help them in retaining their homes, rewriting loans, even securing money judgments for them."

That's the kind of basic training Gardner says attorneys will need in the war against the mortgage crisis.

Here are some fees and violations Gardner says to watch out for on your mortgage:

*failing to credit payments to your account,

*late charges when you didn't pay late,

*charging for insurance you don't need,

*overcharging legal fees,

*failing to notify you when your payments change.

To protect yourself, Gardner suggests asking for a written statement of your payments every six months. If you see a fee you don't recognize, he recommends sending the loan servicing company a written dispute by certified mail. If the fee is not resolved, you may need to contact an attorney.

Attorney's are being trained by Max Gardner in Chicago, Illinois on June 18th & 19th. If you are interested,
you'll find more information about Bankruptcy Boot Camp by following the link below: 


Jeff Berns "The RightPI"

Thursday, April 21, 2011

Companies Offer Securitization Audits w/o Current Successful Case References?

Author: Jeff Berns "The RightPI"
Sources: California DRE, Credit
April 21st, 2011
Unethical & Unlicensed Activity of Companies Offer Securitization Audits w/o Current Successful Case References. Question to Ask Your Auditor before you write and mail that check: " Where are the Current Case Examples?"
Have you read about the "Ibanez Case" in Massachussetts? The case involves an issue of the Chain of Title and in this case the actual audit of the securitization process is critical to identifying who holds title and who has the legal standing to foreclose.
If you are in the market for a "Securitization Audit" or a "Forensic Loan Audit" services for yourself or a client, make sure you know who you are hiring and doing business with, or you may be their next victim. Ask for the specific names of people and cases that these "Audits" have actually been introduced as evidence in court.  Have they helped an attorney in foreclosure defense or a bankruptcy case? This might be critical to ask and to find out before spending your hard earned money.

Just having your Audit introduced as evidence is not enough if it leads to you or your client's foreclosure defense suit being dismissed. Unfortunately there are many companies and individuals out there producing flashy looking reports that have little or no value to the attorney litigating these cases. It has become so bad and prevalent in California that the Department of Real Estate (DRE) has had to issue a consumer alerts and warnings.

In some reports words are incorrectly spelled and the author's can't write a grammatically correct paragraph, much less a court ready legal summary or report. You can check current cases by searching (in many counties, even free) County Court Indexes or by signing up for Pacer (US Federal Court Search Site). If you need help with this email us or chime in on our "Ask The RightPI" Blog (Link Below)

For an administrative fee (2 hour minimum) Right Path Investigations can do a quick court check on whoever you plan on hiring. If you have been a victim of a particular individual or company we would like to hear from you. We'll help if we can. We may save you hundreds of dollars by doing so. If you need a more detailed investigation then contact us and we can make suggestions and recommendations based on your specific situation. We are not attorneys nor do we give legal advice. We do work closely with local, experienced real estate and bankruptcy, criminal and civil attorneys.

We also welcome your attorney calling us so we can discuss our Intensive SAIR and what investigation can be done.  Actually tracking down the legal holder of the note, the deed of trust, the documents needed to prove if and when the chain of title has or has not been broken, involves a much more in depth investigation. We recommend you contact an experienced real estate attorney if you believe this has happened and is your situation.

This post has been written to help educate homeowners and the public on Securitization Audits, Forensic Loan Audits. These Audit Reports have been finding their way into the courtroom. Getting in the door in court just isn't enough. The door will be slammed on you by the judge if you have been provided a useless report. Don't be afraid to ask the tough questions before you write your check for an Audit. If you have more questions: Follow our Blog "Ask The RightPI" on the web at


Jeff Berns "The RightPI"
CEO/Director of Operations
Right Path Investigations. CA lic# 21832
Former Criminal Investigator, County of Sacramento, Former Insurance Adjuster

Sunday, April 17, 2011

*****CONSUMER ALERT***** Beware of Securitization Audits Scams, Hire a Professional Investigator

Securitization of a mortgage loan is the process by which residential and commercial real propertymortgage loans are bundled into various trusts and sold to investors. Securitization can occur months after origination, or it could occur immediately after origination. Approximately 85 percent of portgage loans are securitized. However, not all loans are securitized. It is important to know if your loan was in the 85 percent before hiring someone to conduct an investigation into the securitization of your loan.
Investors such as Goldman Sachs, DeutscheBank, Countrywide, Wells Fargo, etc. routinely sell or purchase large blocks of loans and place them into trusts or REMICs (Real Estate Mortgage Investment Conduits). Shares of those are then sold to other investors.

Knowing what happened to a particular loan, where it went and which investment vehicle it ended up in, can be important in foreclosure defense and litigation against lenders, especially for properties located in judicial-foreclosure states. There are many attorney’s nationwide using a securitization audit or a written investigation report in court to challenge the standing of the company taking action to foreclose.  Our investigation services are designed for these attorneys. We do not offer SA Investigations to the general public or private homeowners as a matter of integrity and protection to those who may benefit from our services. All of our SA Investigation Reports have been reviewed by legal counsel and are court ready documents. We want you to be well represented and informed if you plan on hiring an attorney and filing litigation or bankruptcy for the purposes of foreclosure defense.

There are many individuals and companies out there that are not reputable and have preyed on desperate homeowners and the public. The Department of Real Estate in California has made a public warning page ( Click here Linkto DRE Consumer Warning)  to warn consumers of unscrupulous individuals and businesses. Senate Bill 94 was signed into law on October 11th, 2009 by the Governor and it became effective that day. It prohibits any person, including real estate licensees and attorneys, from charging, claiming, demanding, collecting, or recieving an upfront fee from a homeowner borrower in connection with a “promise” to modify the borrowers residential loan or some other form of mortgage loan forebearance.

In non-judicial foreclosure states, this research can be useful in bankruptcy defense, and it can provide the basis for directed discovery or evidentiary hearings, and is especially useful in defense in Unlawful Detainer Proceedings as a complete defense.

Here is a list of judicial  & non judicial foreclosure states:
Florida, Indiana, New Mexico, Kansas, North Dakota, Iowa, Illinois, Louisiana, Alabama, Kentucky, Ohio, South Carolina, Delaware, New Jersey, Pennsylvania, New York Connecticut and Maine. Other states, including California, Oregon, Washington, use either non-judicial foreclosure methods or a combination of both.

It is also important to point out that an audit commonly referred to as a “Forensic Loan Audit” of your original loan document is when a thorough examination of original loan documents has been conducted. The findings of the Forensic Loan Audit are documented and quite commonly will list discrepancies and violations of TILA, RESPA and HEOPA have occured in the loan documents. The Forensic Loan Audit  is much different and less complex than a “Securitization Audit” (SA) Investigation which has been decribed above. Some company’s have marketed themselves as providing such services “Securitization Audits” when really all they are doing is examining the documents and are not documenting the actual financial process by which the loan’s funds were pooled, where the note was sold or where the Trustee was actually named on the note and/or the Deed of trust of a specific loan.

If you’re a real estate attorney, bankruptcy or otherwise have need to obtain documentation on the holder of your client’s mortgage Note and/or its securitization history, Right Path Investigations can provide you the most comprehensive documentation available. We are a  “Licensed” investigation company and can provide your with an accurate report of our findings. We can also investigate any company or individual who has preyed on you or scammed you in this area. We are happy to investigate who it is you are dealing with before you mail off your private loan documents with your sensitive and confidential info.

If you are not an attorney and thinking about hiring someone to conduct a Securitization Audit, don’t throw away you hard earned money. We can help with an inexpensive and quick background check.

Contact us on our website today

Jeff Berns "The RightPI"