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Mortgage Securitization is Still a Major Problem for Homeowners, Whistleblower Says

securitizationauditsite.comApr 18, 2012

By Kathryn Stevens

Lan Pham, a former economist for the Congressional Budget Office is continuing to question if the agency diminished or denied the issue of how widespread foreclosure fraud, mortgage fraud and problems with mortgage securitization is. Pham worked for the Congressional Budget Office for a mere 2 and a half months before being fired in December 2010 after she provided an analysis regarding the depth of problems with mortgage-backed securities and robo signing that displeased her bosses.

Pham believes that the main issues of foreclosure problems are directly tied to problems with securitization, which is where mortgages are pooled together that collateralize mortgage-backed securities as well as MERS, the Mortgage Electronic Registration System, which has proven unreliable when it comes to tracking records of ownership over about 65 million mortgages – its sole purpose for existing.

Upon reading Pham’s report, her supervisor claimed that issues with predatory lenders and wrongful foreclosures were merely “sensationalism” and handed her policy “thoughts” from Morgan Stanley and Goldman Sachs that would “appear to minimize the exposure of banks to securitized mortgage problems,” which would suggest that there was more interest in protecting the interests of predatory lenders on the part of the CBO than there was to protect homeowners.

This illustrates just how important it is for homeowners to make sure they look out for themselves when it comes to fighting mortgage fraud and fraudulent foreclosures. You can do this by retaining the services of a foreclosure defense attorney and having all of your mortgage and loan documents examined in detail by a Bloomberg-based securitization audit such as the ones offered by Tila Solutions.

Not only will Tila Solutions’ securitization audits determine if your loan has been securitized as well as securitized correctly, these Bloomberg-based securitization audits will also examine to see if there have been any errors in the MERS database as well as if the note has become separated from the title of your home. If your foreclosure defense attorney possesses this information, they will be sure to have the knowledge to provide you with the best defense they possibly can, and may even be able to discover that your lender does not actually possess the legal right to foreclose on your home.

This is why you should call Tila Solutions right away so you can learn how their Bloomberg-based securitization audits can provide information to you and your foreclosure defense attorney that can prove incredibly valuable when fighting a wrongful foreclosure. If you are not working with a foreclosure defense attorney, Tila Solutions can also provide their customers with referrals to qualified foreclosure defense attorneys in their area. A Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website at foreclosure fraud.

Back to April 2012 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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