So these “attorneys” in California – home of class-action silliness – are targeting borrowers with random letters requesting said borrowers call them and be included in a class action suit of untold millions against the mean mortgage lenders. The letters are being randomly sent to mortgagors and the pond scum have no idea what the status of the loan is – delinquent? current? – no matter. They found company names in public records and are proceeding from there. The form looks like an official “government” form – which Reg Z and HUD would both have issues with.
Today a mortgagor contacted my company pretty upset with Pond Scum. The borrower is current. Plus, we’re the originators – not the holder of the Note. We don’t service loans. Pond Scum has wasted valuable postage.
Pond Scum’s intended purpose of course is “…to make your illegal and Fraudulent mortgage go away, seek monetary relief, stop foreclosures, and/or seek compensation for damages.” Yes, it was written just like that. They forgot to add that their other intent is to line their greedy pockets from potential winnings of homeowners that got themselves into this mess in the first place.
Yep, there is some baaaaad paperwork out there and it involves the big banks, MERS, lousy attorneys. No one should suffer if their lender screwed up. We take our responsibilities seriously. But I also have to ask, why were these loans made in the first place to people who couldn’t afford them? And why in the world would Pond Scum like Consolidated Litigation Group be permitted to prey on them? There is no interest in the borrower’s fate. None.
RipoffReport.com has way more on this.