Industry Leader Announces Great Strides Helping Homeowners Reduce Foreclosures And Achieve Affordable Mortgage Payments.

Palm Beach Gardens, Fla. (PRWEB) October 28, 2008

First Universal Lending, announced today that it has been achieving a large volume of success in it’s ongoing negotiations with lending institutions to help their clients with their loan modifications, and in particular has been conducting settlement conferences with lenders in the offices of First Universal.

First Universal Lending has built an extensive working relationship with a number of lenders and mortgage servicing facilities nationwide, and now has a number of them actually visiting their corporate office on a weekly basis to handle the large volume of clients directly.

First Universal Lending helps thousands of clients by handling the often tedious and difficult task of renegotiating their current mortgage terms with their existing lenders. This is accomplished through First Universals vast group of highly trained professionals, and state of the art software systems, all designed with the goal of achieving complete client record automation, and speed along with efficiency thus saving their clients from the hours and hours of back and forth dealings with their often unorganized and overburdened lender.

About First Universal Lending LLC

First Universal Lending LLC is a lender that has been servicing retail clients since 2002 and the wholesale and securitization enterprises dates back to 1994. With billions of dollars in transactions and a group of in excess of 200 in personnel, First Universal is a leading private company in the consumer finance industry. The firm is a member of the Better Business Bureau and after servicing in excess of 100,000 thousand clients the firm has a “B” Rating andhas a complaint rate of less than one half of one percent. The firm also has had additional strategic relationships throughout its existence with high profile lending institutions and service providers/counter parties, including Washington Mutual, Lehman Brothers, HSBC Bank, Goldman Sachs, mortgage division and the Lending Tree group of companies. The firm provides additional financial industry services through a number of other affiliated enterprises, including but not limited to, Emery Fed Inc., which is a division of Emery Federal Credit Union and Western Thrift & Loan — a depository institution that has the approval to provide loans through major financial institutions in the majority of all states in North America.


Homeowners Lawsuit Against Major Banks Progresses Slowly, Alleges Predatory Lending and Unfair and Deceptive Trade Practices by Wells Fargo and Others

Miami, FL (PRWEB) December 7, 2010

Coral Gables, Fla. homeowner Pelayo Duran claims in his lawsuit that what he wanted was the attractive loan he saw advertised in the Miami Herald to refinance a home for his growing family. Instead, he ended up in the middle of an endless and costly legal fight with the nations largest banks accusing them of illegal predatory lending and unfair and deceptive trade practices.

At the same time, Durans attorneys claim his mortgage has been sold in the secondary market to investors who paid a profit to Wells Fargo Bank NA who is now acting as a trust administrator to the loan pool that allegedly owns Durans loan, a loan lawyers say was designed to fail.

“Someone has to stand up for the rights of the defenseless and the oppressed, said Duran. People have to know the real story of how these banks were able to take the American dream and destroy it. We believe they reaped billions of dollars in profits by lying, falsifying documents, appraisals, applications engaging in predatory advertising and lending practices. They hide behind all the companies that are involved and the large law firms that represent them. They create layer upon layer of red tape to avoid being held accountable.”

Duran’s attorney, Adis Riveron, Esq., filed a lawsuit in Miami-Dade Circuit Court (CASE No. 09-CV-20411-CIV) naming defendants Wells Fargo, Countrywide (bought out by Bank of America), Greenpoint Mortgage Funding and two individuals Lee Rosenthal (the appraiser), and Cindy Sierra (the mortgage broker). The lawsuit has charged them with a total of 13 counts including negligence, fraud, unfair and deceptive trade practices, and breach of fiduciary duty. Duran seeks a jury trial to determine punitive damages. You can download a copy the lawsuit at

Even though my home is not in foreclosure and I continue to make regular, on-time payments, my case is similar to the plight of millions of homeowners across the country, said Duran, a prominent South Florida attorney. Fortunately, I have been able to gather the financial resources, legal determination and stamina to take on the giant lenders because I refuse to give in when what they are doing is clearly unconscionable and dishonest.

The case was immediately removed by the defendants to federal court in 2009, but has since been remanded back to the state court earlier this year after a tough and expensive legal battle. Duran also had to pay a $ 10,000 judgment following an order compelling part of the case against Wells Fargo to arbitration.

According to Duran’s attorneys, they have filed a motion to stay the proceeding because the arbitrator from the American Arbitration Association might have engaged in inappropriate conduct. Attorneys said they would now file a motion to force the arbitrator to recuse himself.

It is inevitable the Mr. Duran will have to begin the entire arbitration process from the beginning, said Riveron. This conduct on the part of the arbitrator calls in to question the entire integrity of the expensive arbitration process that Wells Fargo includes in its mortgage agreements. The only reason they don’t agree to have the lawsuit in state court where it belongs is to make the process as dragged out and expensive as possible. They will stop at nothing to delay and obfuscate justice. I believe in my lawsuit and I will not stop until I have exhausted every avenue, said Duran.

The lawsuit claims that this legal saga began when Duran tried to refinance his primary residence in 2005. He had purchased the home in October 2004, and had he made an initial down payment of $ 100,000. Shortly after the purchase, Duran needed to access some of the money he had put down to cover imminent personal and business issues.

According to the lawsuit, Duran saw an ad in the Miami Herald published by Wells Fargo Home Mortgage. The ad was offering an Adjustable Rate Mortgage (ARM) at a rate of 5.75%, with 10 years interest only payments, a fixed interest rate for 10 years, and a 5.1 annual percentage rate. Durans plan was to buy down the loan rate at closing 1 to 2 point and pay off the home in about 10 to 15 years.

The lawsuit states Duran contacted Wells Fargo because he had a longtime business relationship with the bank and the terms in the ad were the most favorable. Attorneys claims when Duran called Cindy Sierra who he thought was a bank representative, she first told him that the advertised rates were not available. She then told him that she would get him an even a better deal. Duran believes that he, just like millions of other Americans, was baited into applying for an attractive loan that never existed, only to be switched to a high-risk subprime loan.

According to the lawsuit, Sierra told Duran to leave the income section on the application blank until such time as she could conduct a pencil search, a prohibited but common practice used by mortgage brokers and lenders in order to maximize the loan amount in which a mortgage broker would shop for an appraiser to support the highest value that the lender could hit in originating the loan. Initially, Sierra informed Duran that his home was worth $ 1.5 Million. The appraiser, Lee Rosenthal who worked for and was hired by Rels Valuation, (also Wells Fargo company), ultimately determined and represented to Duran that his home, which was purchased for $ 984,000 four months earlier, was now worth $ 1.2 million.

Unbeknownst to me, she created my loan by adjusting the value of my home to my debt-to-income ratio, said Duran. They never considered my ability to repay the loan. All they cared about was the appraised value and my good credit score. What I also discovered was that a Wells Fargo representative was actually originating a loan for Greenpoint Mortgage Funding and that immediately upon the closing of my loan, Greenpoint would turn around and sell my loan right back to Wells Fargo as trust administrator for a pool of loan. In addition, Fred Schlang, SRA, an appraisal expert, later alleges that the banks appraisal was inappropriately inflated.”

According to the lawsuit, after haggling over the terms for several weeks, Duran and his wife were disheartened at the closing when the final Greenpoint loan agreement reflected a financed amount of $ 920,000 with an APR of 5.622% fixed during a five year period, with rate adjustments up to twice per year, a pre-payment penalty, and a rate cap of 10.5%, (not the 5% he had been previously offered in writing) and they would not be able to buy down the rate 1 to 2 percentage points at closing, as he had been previously promised.

None of these terms were disclosed throughout the entire process, said Duran. She attempted to fix the problem at the closing of the mortgage, but they lied to my wife and me, once again.

Duran and Riveron claim in the lawsuit that this case stems from the common practice of securitizing loans and selling them in the secondary market for huge profits. These mortgages were underwritten primarily on the basis of an inflated appraisal and have basically no underwriting standard other than securing a signature on loan documents.

Greenpoint and Wells Fargos profits are determined by the amount of and quantity of loans they successfully closed, not the quality of those loans, said Duran. The lender has an incentive to pressure appraisers and brokers to reach values that will allow the loan to close without regard to whether the appraisal reflects the homes actual value. Likewise, the independent broker is not tied to one lender, but has relationships with multiple lenders.

Duran said since he began his investigation and even before filing of the lawsuit, his home mortgage was transferred from Greenpoint to Countrywide and now to Bank of America. Duran and Riveron said for some unknown reason, Bank of America and Greenpoint have been attempting force place insurance on h

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National Mortgage Complaint Center Warns All US Homeowners About Refinancing Scams Foreclosures & Says Time for Justice for Greedy Banks

(Vocus/PRWEB) February 01, 2011

The National Mortgage Complaint Center says, “as we enter 2011 we have a lot of really serious concerns related to US homeowners, consumers wishing to purchase a home, and accountability for what got us into this mess in the first place. Things have not improved, and if not the homeowners-the taxpayers should be steamed.” They say, “what concerns us is Federal, or State Law Enforcement are doing little, to nothing about mortgage refinance scam artists, or foreclosure scam artists offering access to interest rates that do not exist, and or foreclosure programs, that require money up front-for nothing.” They say, “what do state, or federal regulators, who are supposed to be protecting consumers, do all day long? They sure and the hell are not doing much to regulate all of this nonsense, and we think all US homeowners, and or taxpayers better wise up. One way, or another you are all paying for this baloney, and will be for as long as you live.”

Refinancing: The National Mortgage Complaint Center says, “we think now would be a very smart time to refinance, because we think the realities of the Middle East meltdown mean much higher oil prices, inflation, and interest rates. Even if the US stock market has a meltdown-we think rates are going up-not down–because a Middle East meltdown probably means higher oil prices, and inflation.” They say, “if you see some advertisement for a 3% mortgage-its not a 30 year fixed product, we consider it to be false advertising, and its high time federal, or state regulatory agencies shut these firms down for false, or misleading advertising.”

Foreclosures: The National Mortgage Complaint Center says, “in 2011 we will see a record, or close to a record number of foreclosures. We expect an additional price decline of about 10% nationwide. The true national unemployment rate is north of 15%. Add in the Middle East meltdown, and 2011 is starting to look like a train wreck.” They say, “and no–if someone has not made their mortgage payment for a year, or more-why should it be the taxpayers responsibility to bail them out?” However, the National Mortgage Complaint Center says, “there is one exception to this not paying your mortgage payment. In this instance, it applies to 10,000’s of US homeowners stuck in a home with toxic Chinese drywall in the US Southeast. Haven’t heard about toxic Chinese drywall? Well there is a good reason why most US citizens have not yet heard about the toxic Chinese drywall disaster–President Obama has forgotten to mention it one time in public since taking office. Not to worry-we think its in all 50 states-so everyone will know about it one of these days.” They say, “toxic Chinese drywall is the absolute worst environmental disaster to ever impact US homeowners, and here’s the good part—–US banks stuck with a toxic Chinese drywall foreclosures in places like Florida–are simply reselling these toxic homes-As Is-no mention of the fact the home could be lethal to the homeowner, or their children-so the house just becomes a foreclosure all over again.” For more information on the toxic Chinese drywall disaster please visit the Chinese Drywall Complaint Center at

On The Topic Of Greedy Banks Investment Bankers & Accountability: The National Mortgage Complaint Center says, “in case you missed it, all of the big time Wall Street investment bankers, banks, international finance people had a big party in Switzerland last week. Apparently they all had a really good 2010. There is one slight problem, we think the US taxpayer picked up the bar tab.” They say, “back in 2006-even 2007, US securities rating agencies were giving questionable Alt A mortgages a triple A rating, just so foolish pension funds would buy these soon to be greatly discounted, or worthless securitized mortgages.” The group says, “the same people/firms at the free bar in Switzerland last week, were telling investors, and the US consumers, the US real estate party would go on forever back in 2006, and even 2007. They were all lying through their teeth, and now the US taxpayer gets stuck with trillions? We say its time for indictments!”

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Chinese Drywall Complaint Center Demands Mortgage Relief For Florida & Gulf States Homeowners Stuck In Chinese Drywall Hell

(PRWEB) May 18, 2011

The Chinese Drywall Complaint Center says, “The imported toxic Chinese drywall disaster in places like Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas is the worst man made environmental disaster to ever hit the US, and unless someone steps up to the plate pretty soon, its just going to get worse for everyone. Everyone includes the completely innocent homeowners, who would have never knowingly purchased a toxic Chinese drywall home. Everyone also includes completely innocent children of homeowners stuck in these toxic Chinese drywall homes.” The group says, “We think it is insanity for major US banks, or loan servicers to continue to pretend that the toxic Chinese drywall environmental disaster is just going to go away on its own. Unless these homes are properly remediated, the disaster never goes away, it simply festers, and it gets worse.” They say, “We believe the time has come for major US banks, and loan servicing companies to step up to the plate to help these homeowners. Meaningful help for homeowners stuck in a toxic Chinese drywall home in Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas would involve a substantial loan modification, along with what is called a 203-K mortgage. The unique feature of a 203-K mortgage program is it allows for a purchase price, and remediation built into the mortgage product.” http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center says, “In places like Lee County, Florida, the Assessors Office has some toxic Chinese drywall homes valued at the land cost only. The actual home, or condo is worth zero. We think this should be a huge wake up call to all major US banks, or mortgage loan servicers. Do the pension funds, or investors know their securitized mortgage is worth nearly zero?” They also say, “At the same time we are horrified with the prospects of Florida real estate flippers buying toxic Chinese drywall foreclosures, and then doing a low end remediation-doomed to fail, or even worse, no remediation on the foreclosure, and then spinning the home to a new buyer, typically from out of state, or who has never heard of toxic Chinese drywall before. Is anyone in city, county, state, or the federal government remotely worried about any of this? Are the Fed’s ever going to show up to the toxic Chinese drywall disaster?” http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center is saying, “Toxic Chinese drywall foreclosures can be great investments, if the investors, or home purchaser understands what they are doing, and the critical aspect of a proper home remediation. However, if the investor, or purchaser fails to do it right, the home ultimately becomes another foreclosure. We are doing everything possible to change the Florida toxic Chinese drywall foreclosure flipper quick buck, or go cheap mentality into something sane. But, it really is time for major US banks, and loan servicers to show up, by helping existing homeowners stuck in toxic Chinese drywall hell, and or insuring that toxic Chinese drywall foreclosures go through a rigorous remediation before they are allowed to be mortgaged to a new home purchaser, or investor.” http://ChineseDrywallComplaintCenter.Com


Foreclosure Decision Supports Information in New Book for Troubled Homeowners

Eugene, OR (PRWEB) July 13, 2011

A decision handed down on May 31, 2011 in the case of Herrera v. Deutsch in the California 3rd District Appellate Court in El Dorado, case number C065630, has massive implications for homeowners facing foreclosure. The court ruled that the documents provided by the defendants, Deutsch Bank National Trust Company, and the California Reconveyance Company, were insufficient to prove that that bank had interest in in the property, and thus the right to foreclose and sell the home. This ruling has established an important case law for California about foreclosure and lender’s standing to foreclose. Results for this case can be found at

Author of the Foreclosure Defense Guidebook, Vince Khan, says, This is a great victory for homeowners facing foreclosure in California. In his book, Khan explains, in plain English, the banking worlds claim, or lack thereof, on the housing market. He tells his own story of challenging his lenders, empowering himself and everyone who seeks his guidance to look for alternatives, even when it looks as if none exist. In Foreclosure Defense Guidebook, Khan discusses the legality of the foreclosure process and how banks play off consumer ignorance to take houses which arent actually theirs.

Khan felt it important to release this book in paper format to give even more people access to this information. The people who need this help the most may not have the luxury of a computer with which to read this book.

Foreclosure Defense Guidebook can be purchased on Vince Khans website for $ 12.99 and on An ebook version is available on the website for no cost. For more information or to speak with Khan, please contact him at the address below.

About the Author:

Vince Khan was where millions of other Americans have found themselves recently: foreclosure. He lost his money in two start-up ventures and was unable to make house payments. Searching for a solution, he began researching foreclosures and the specific issue of bank securitization. He compiled his thousands of hours of research into his book, Foreclosure Defense Guidebook: An Easy to Understand Guide to Saving Your Home from Foreclosure.

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Multi-Party Suit Filed by Homeowners Against JP Morgan Chase et al

Roseville, California (PRWEB) October 27, 2011

On Tuesday October 18, 2011, United Foreclosure Attorney Network (UFAN) filed suit in Superior Court in Martinez, CA (case number C-11-02390) on behalf of numerous homeowners against JP Morgan Chase and others alleged by Plaintiffs to be involved in a scheme to defraud and otherwise take advantage of investors and borrowers.

The complaint details how the lending practices of JP Morgan Chase led directly to Plaintiffs being placed in harmful and predatory loans. After a loosening of lending restrictions in the 1980s, banks like JP Morgan Chase began originating exotic non-prime mortgages with adjustable interest rates. These risky loans were often securitized into mortgage backed securities and sold to investors. Because a bank could quickly recoup amounts spent issuing mortgages by the sale of these residential mortgage backed securities (RMBS), banks incentivized mortgage brokers to participate in the scheme with high fees for origination. According to the filing, these fee incentives encouraged complete disregard for underwriting standards which were used to lure borrowers into highly predatory loans they could not afford.

The complaint alleges that Plaintiffs relied on statements made by JP Morgan Chase employees and mortgage brokers when they accepted bad loans. Plaintiffs were often told that they would be able to afford high loan amounts and were promised the ability to refinance at a later date. It is alleged that in some instances, loan officers blatantly lied to Plaintiffs about the quality of the loans they were receiving. The complaint alleges that Chase not only knew about these broker practices, but encouraged and incentivized them. A Chase internal memo states, If you do not get Stated/Stated, try resubmitting with slightly higher income. Inch it up $ 500 to see if you can get the findings you want. Do the same for assets.

Similarly, the complaint alleges that appraisers were encouraged to inflate property values in order to give borrowers higher loan amounts. The higher the loan amount, the more money JP Morgan Chase was able to make on the sale of the loan. It is argued that the bank incentivized appraisers to falsify property valuations in order to secure a higher loan to sell to investors. The complaint alleges that Plaintiffs borrowed excessively in reliance on inflated appraisals and other statements.

Plaintiffs also argue that because of the sale of their loans, they did not receive the benefit of the contract for which they bargained. Plaintiffs, believing they would be placed into a mortgage with a traditional Lender/Borrower relationship, later found that they did not have a lender with whom they could deal. Servicers are not at liberty to make changes to contracts when circumstances are unforeseeably changed. Furthermore, loan servers have an incentive to foreclose whereas a lender has the incentive to modify a loan if it would be more profitable in the long run. Had many homeowners had a lender with whom to deal, they could have restructured the mortgage for a more desirable result for both parties. The complaint details how many Plaintiffs diligently sought modification of their loans but were denied simply because the servicer had no authority to grant a modification.

Certified Securitization Analysis, LLC Provides Homeowners Experiencing Wrongful Foreclosures Ideas on How to Protect Them selves

San Francisco, California (PRWEB) February 28, 2012

Certified Securitization Analysis, LLC, In accordance to the modern govt settlement, a $ 2,000 payment will be created to borrowers in reaction to the banks fraudulent robo-signing techniques. Regrettably, the introduced settlement is too tiny and too late for most debtors facing foreclosure. Property owners are remaining with little option besides to pursue a civil scenario towards fraudulent mortgage loan securitization procedures. Accredited Securitization Analysis, LLC has been conducting hundreds of home loan securitization audits to support debtors going through imminent foreclosures. Beneath is a quick overview of house loan securitization as nicely as business ideal methods suggestions for the borrower to shield by themselves although dealing with predatory creditors wrongful foreclosure methods.


What is Home loan Securitization? A Quick History


Recent U.S. mortgage debt stands at $ 14 trillion. Most mortgages in the U.S. are securitized and owned by trusts and are frequently referred to as RMBS or MBS trusts, standing for household home loan-backed securities. The trusts are made up of a pool of mortgages (frequently increased than five,000 mortgages per have faith in). The loans are usually sub-key financial loans. Specific mortgages had been packaged into MBS Trusts these MBS trusts ended up pooled, sliced and bought. The house loan loans in every single pool, or MBS Have faith in, consist of each 1st and second lien home loans, both mounted-charge and adjustable price financial loans. There are distinct lessons inside of every pool of financial loans, symbolizing distinct attributes of loans. It is not uncommon for each and every pool to have as many as twenty different classes. Bonds are issued to investors to represent the buy, so traders are typically known as bond holders. The loans are picked for every single pool by a distinct date, usually named the closing date of the have faith in. While a have faith in could substitute financial loans into the pool right after the closing day, there are strict guidelines on such substitutions. The pool of financial loans is explained in a prospectus typically referred to as a 424B submitting with the Securities and Exchange Commission a printed doc that describes the business company that is distributed to prospective purchasers and traders. Several representations (claims) are made to the potential customers of these bonds with regards to the financial loans in every single pool in equally the prospectus and the Pooling and Servicing Agreement. Most of these promises to date have been misrepresented no matter whether intentional or not, which has resulted in several trader lawsuits towards banking companies and wall street expense corporations concerned in the advertising and marketing of such securities.


There is even now a legitimate protection in opposition to wrongful foreclosures. Below are some ideas on what to look for:


one) Debtors need to have to insure that the foreclosing entity is the real Be aware Holder. Financial institutions act as pretender creditors, when originating a loan. Soon after it is marketed to the Bond Holders (Traders), they just take on the part of loan servicing only. If payments stop, then the Loan Servicer does have the right to initiate foreclosure proceedings, but only the Notice Holder can actually complete the foreclosure method.


2) Debtors need to insure that the foreclosing entity is in possession of the authentic mortgage loan be aware The house loan financial institution (Pretender) need to be in possession of the authentic soaked ink mortgage note to foreclose, therefore the expression Produce the Note. Be aware that right after a number of hundred audits, CSA, LLC has by no means seen a bank generate the first moist ink promissory notice.


three) Debtors should verify to see if the promissory be aware and the deed of trust have been divided. The banking companies split the Promissory Note and Deed of Have faith in in every Securitization Settlement. They bought the Notice to the traders and recorded the deed with the county recorder, or in over 50% of the cases, Home loan Digital Registration Methods, (MERS). MERS instructed the servicers to keep the notes, and many or most of them were wrecked or misplaced. Further, the notes have been divided from the mortgages, generating them null and void.


5) Borrowers want to check if bank loan was recorded with MERS. Incorrect House loan Assignment More than 60 million mortgages have been assigned to MERS (Mortgage Electronic Registration Programs, Inc.) MERS company procedures have been ruled by a NY Personal bankruptcy Decide in 2011 as illegal.


6) Debtors need to have to find out how to generate a totally free account on for investigation of community SEC filings. Objection to an Entity that is Foreclosing Home loan Servicers will usually foreclose in their possess title and not expose the identity of the accurate holder of the note. Considering that most of the Home loans, if not all are owned by traders, by means of MBS Trusts, each trader only owns a portion of the collective pool of mortgages, but not any one specific mortgage. For that reason, there is no a single who can legally foreclose.


seven) Borrower need to demand from customers that the mortgage loan financial institution validate the personal debt. If homeowners would read their Deed of Have confidence in they would find out it to be a glorified lease Agreement. This is why when paying off a mortgage, a house owner must request a payoff letter from the bank, this is the only time the financial institution is admitting that there is a financial debt in existence. There are a lot of reasons for this and will be discussed in-depth on our site before long.


CSA is now offering free mortgage loan securitization audit assessments to homeowners experiencing foreclosures. As lawful possibilities are dwindling, this should be the principal focus of any wrongful foreclosures protection.


For much more data, remember to make contact with us at or write to: revenue(at)securitizationanalysis(dot)com or phone (415) 316 8776 to schedule a time for a house loan securitization evaluation.


About Accredited Securitization Examination, LLC


Licensed Securitization Investigation (CSA), LLC is a consumer advocacy firm that provides because of diligence and investigates mortgage loan securitization fraud. The Companys proprietary techniques and procedures for audit and evaluation concentrate on legal standing issues in foreclosure scenarios where the underlying house loan was securitized.


CSA is not a regulation company. CSAs details and solutions are not meant as authorized guidance and exercise.