Mortgage fraud can refer to many different unscrupulous practice employed by the banking and mortgage industry. In short, mortgage fraud refers to the process of the mass production of false and forged execution of mortgage assignments, satisfactions, affidavits, and other legal documents related to mortgage foreclosures. This includes forging signatures on legal documents, notary fraud wherein notaries pre-notarize or post-notarize affidavits and the practice of bank employees signing off on important legal documents and affidavits without reviewing them to investigate their veracity. Anything done by the banking or mortgage industry that bypasses standard legal procedures in order to expedite or falsify a foreclosure could potentially be mortgage fraud. These practices within the banking and mortgage industry are often described using the catch all term, “robo-signing.”
There are many types of mortgage fraud litigation and they often operate independently of each other. Many law firms focus solely on ways to help keep homeowners in their home before the foreclosure process becomes final. While this is a valuable service for homeowners who have not yet been evicted, it offers no legal recourse for homeowners who have already been foreclosed on – many times through wrongful and illegal practices.
If your home was wrongfully foreclosed on, especially in the years 2009 and 2010, you could be entitled to money to compensate you for your losses. Many of the country’s largest banks have already admitted to wrongful foreclosure practices and reached a settlement with the federal government which created a $9.3 billion dollar fund to compensate victims of wrongful foreclosure. However, this is FAR LESS money than people are actually owed . Even if you have already received a check, you are likely entitled to significantly more money.
Brent Coon and Associates is fighting for people who may have lost their home years ago, during the heyday of greedy banks taking illegal shortcuts in order to wrongfully foreclose on homeowners’ property. BCA has also built a dedicated website to help Mortgage Fraud victims and to help owners keep their homes.
Mortgage Electronic Registration System (MERS) is a privately held company that operates that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States. In 2007 MERS was set up in Texas. To be a member of MERS, you must be a mortgage lender or banker. By 2007, MERS registered about two out of three home loans in the United States.
The company is the owner of record (or the owner's nominee) of the security interest arising from mortgages extended by lenders, investors and their loan servicers and recorded in county land records. By using MERS, the lenders and investors who are the real parties in interest avoid the need to file assignments in county land records, which lowers costs for lenders and, they claim, consumers by reducing county recording fee expenses resulting from real estate transfers and provides a central source of information and tracking for mortgage loans. The company's role in facilitating mortgage trading was relatively uncontroversial in its early days a decade ago, but continued fallout from the subprime mortgage crisis has put MERS at the center of several legal challenges disputing the company's right to initiate foreclosures.
Recently some of the largest banks in America have plead guilty for wrongfully foreclosing on Military Members during the housing crisis. Banks and financial institutions reportedly used faulty documents while evicting military members. In many of these cases, the banks wrongfully foreclosed on these military members while they were on active duty. Read More about Military Foreclosure Fraud.
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|November 9, 2016, 3:22 pm|
Today a jury verdict was returned regarding a lawsuit filed against Woven Metal Products, Inc. on behalf of Jacob Matthew Cadriel, who was killed on the job by a co-worker, Steven Damien Young. This tragic incident took place on April 1, 2015. On that date and on Woven Metal Products, Inc.’s workplace premises, co-worker Steven Damien Young reached into his waistband, pulled out a 38-caliber handgun and shot and killed Jacob. Young was arrested and charged with murder, and is now serving a 45 year sentence.
|October 3, 2016, 5:11 pm|
The motion picture depicting the 2010 Gulf oil spill hits theaters nationwide this weekend. So what, if anything, has changed since the Deepwater Horizon blast killed 11 oil rig workers?
|August 17, 2016, 8:49 am|
Buying a used car instead of a new one almost always makes good economic sense, unless you end up in Ann Nogast's old 2011 Honda Pilot.
|August 14, 2016, 11:23 pm|
Seven people were injured, including four critically, in an explosion at a Texas crude-oil plant, authorities said.
|May 9, 2016, 9:02 am|
Despite the $20 billion settlement BP PLC struck with the U.S. Department of Justice over the 2010 Deepwater Horizon oil spill, tens of thousands of lawsuits could hit the courts this month, adding to the oil company’s ballooning costs.
|May 2, 2016, 6:22 pm|
Those who have followed the Jefferson County Appraisal District (JCAD) case and story for the last year should be already aware that we have spent the duration of that period attempting to collect information and data on what we believed was an unfair rescheduling of 1.5 level homes.
|April 27, 2016, 8:57 am|
Six years after a deadly blowout sent a slick of oil floating along the Gulf Coast for months, BP PLC disclosed almost $1 billion in fresh charges that bring its total bill from the disaster to more than $56 billion and counting.
|April 20, 2016, 8:33 am|
With the enormous number of BP Oil Spill victims still waiting for resolution of their claims, BCA is providing this status update as a “reality check” of where are we now. Brent Coon’s comments and the link to the 2 minute video are below.
|April 19, 2016, 9:28 am|
Beaumont attorney Brent Coon said it was appropriate for him to host a press conference at his law office on April 15, the traditional tax day.
|April 18, 2016, 9:19 am|
A controversy about home values in Jefferson County and the way they're determined is spilling over into the legal system.
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