LITTON LOAN SERVICER, LP RANKS NUMBER "1" WORST PREDATORY MORTGAGE SERVICER! Posted: January 22, 2006 Consumers Need Local, State and Federal Government Laws To Combat Predatory Lending! Baltimore, Maryland. While everyone is undecided on what level of government should best protect consumer from predatory lending, Litton Loan Servicer, LP/U. S. Bank, NA and other predatory mortgage servicers, banks, mortgage lenders, etc. are reeking havoc and victimizing the most vulnerable homeowner’s i.e., African Americans, disabled, elderly, single woman and others. These predatory lenders engage in all or any of the following predatory behaviors i.e., loan flipping, equity stripping, ending in wrongful foreclosures which may result in illegal deflated public auctions, property flipping, RICO, RESPA and other violations. There are horror stories in almost every state on Litton Loan Servicer, LP, formally a debt collection agency turned mortgage servicer is very aggressive in their attempt to take the number one spot in mortgage foreclosure. These predatory servicers are no longer in the business of performing loans. LITTON AND OTHER SUB PRIME LENDERS HAVE NOW FOCUSED THEIR ENERGY IN THE REAL ESTATE BUSINESS AND TEAM UP WITH UNSCRUPULOUS INVESTORS WHO PURCHASE FORECLOSED PROPERTIES AT AUCTIONS FOR A LOW PRICE. These fraudulent outfits or rings do low ball repairs, turn around, and sell homes for twice the amount paid to unsuspecting consumers. This is far beyond capitalism, but an outright rip-off! Litton Loan Servicer, LP executive offices are located in Houston, Texas and will take your home not in a New York minute, but a Houston, Texas second! It seems lawmakers fail to get involved or are just looking the other way. Litton has been allowed to run rampant, from not applying mortgage payments, forced placed insurance, failing to issue pay off notices and filing wrongful foreclosures. Litton also, allows its sub trustee’s (attorney’s) to engage in fraudulent misconduct with regard to wrongful foreclosures actions by low balling auction sales, property flipping, equity stripping circumventing state laws and court procedures, resulting in thievery, breaking and entering. In one case, Litton Loan Servicer, LP/US Bank NA and Washington Mutual may have known reason why a homeowner in Baltimore City was not making his mortgage payments was because of his death and not refusal to pay his mortgage company. Instead of appropriately notifying the probate court of the man’s death, Washington Mutual sold his loan to Litton. Inappropriately, Litton filed a foreclosure action in circuit court circumventing the law by taking possession without a court order, illegal breaking and entering the man’s home and took whole contents of household without the man’s family’s permission. More conduct that is reprehensible is attorney’s for Litton were involved with bidder/purchaser that defaulted on their loan finance obligations and all argued over the deceased man’s home for (6) six months. The defaulted purchasers may not even be U. S. Citizens that are involved in this real estate property flipping scam. The deceased man’s family contacted Litton Loan Servicer and its attorney’ trying to recoup his home from foreclosure. However, Litton’s Attorney, Friedman Law firm, refused to speak with her and did nothing to return home back to family. The Friedman Law firm has engaged in the same fraudulent behavior in another case regarding D. C. resident. Lawmaker’s and all else are missing the boat on this one! Predatory lending is not just a state or a federal issue, but laws are needed at all levels of government. In the case of deceased man mentioned above, his rights could have been better protected if Baltimore City government had predatory lending laws in place. The State of Maryland should require mortgage lenders to define what a default is in all mortgage notes and contracts. As in the case of a FHA loans, homeowners must have at least (3) consecutive missed payments before any foreclosure action is filed in court. All states should have a uniform minimum standard requirement, much like the FHA default standard before any foreclosure action is filed. Currently, in State of Maryland, a hearing is not mandatory and lender is not required to define what a default is, which leaves the homeowner vulnerable to abusive power by mortgage company’s. All states should require mandatory hearing after foreclosure action is filed in court. In the state of Maryland, the laws are more favorable toward the lender. If you cannot afford to hire an attorney to represent you, your case may not be heard and you probably will lose your home. States need to pass new laws to protect homeowners throughout the whole foreclosure process. As it stands now, lenders and it’s lawyers use the legal system to engage in fraudulent behavior during the foreclosure sale process by violating redemption rights, illegal possession, illegal auction process, bidder/purchasers scams, etc. Predatory lending is no different then any other consumer protection issue whereby if the local government or state government fails to protect consumers rights then the next step for justice is to the federal government. This is what the founding fathers had in mine, which has always been the natural progression in this country. Checks and balances is what make this country great and reason the civil rights movement was brought about! Advocates for Justice
D. C. RESIDENT FILED FEDERAL LAWSUIT FOR FRAUD.
VICTIMS OF PREDATORY MORTGAGE SERVICERS NEED STRONGER LAWS