Remember folks, “Nobody committed any crimes!”
While the settlement with Mr. Pino is confidential, we do know that a satisfaction of his mortgage was recorded in the public records in July 2011 (below).
Despite the fact that this mortgage “asset” no longer exists, the trust is still claiming this mortgage as an asset as of the Jan 2012 investor report, charging all sorts of fees, including monthly servicing fees, etc.
Uh, wait a second…. You mean that the January 2012 investor report is showing that a mortgage that was released in July of 2011 is still being shown as active and billed servicing fees in January of 2012?
Why yes, and it’s not just one!
Roman Pino loan #130133456 – $162,400 – (July 2011 satisfaction – still on the books in Jan 2012 trust report in “foreclosure” status) [3764 Mil Run Court, Greenacres, FL 33463] – BoA monthly servicing fee for non-existent mortgage $50.73
Samantha Woodruff loan #130521936 – $171,940 – (Sept 2011 deed from trust REO to new buyer – still on the books in Jan 2012 trust report in “REO” status) [1497 Lake Crystal Drive D, West Palm Beach, FL 33411] BoA monthly servicing fee for non-existent mortgage $33.70
Robert Rodriguez loan #130450231 – $176,542 – (Sept 2011 short sale deed & Nov 2011 satisfaction – still on the books in Jan 2012 trust report in “REO” status) [1139 Lake Terry Drive 60L, West Palm Beach, FL 33411] WOW – BoA monthly servicing fee for non-existent mortgage $181.69
Elsa Castillo Rivas loan #130445815 – $375,000 – (July 2011 short sale deed) – remained on books through Dec 2011 in “REO” status), finally reported as “liquidated” in Jan 2012 report [13918 Preacher Chapman Place, Centreville, VA]. WOW – BoA monthly servicing fee for non-existent mortgage $328.04
Heh this is a good business! All we have to do is bill out fees for things that don’t exist (and thus we didn’t actually do.)
Isn’t there a violation of the law in there somewhere? I guess not, if you’re one of the mainstream political candidates…. or for that matter most of the Libertarian ones, including specifically Gary Johnson.