FPG-USA

Rip Ripp0ns is a marvelous host with his listener’s frustrations of being wrongfully foreclosed in mind. Rip was excited over the breadth of experience FPG-USA offers and the help it provides but most importantly to the FPG-USA Academy who trains mortgage foreclosure fraud investigators online to work from home helping others produce the evidence they need to fight wrongful foreclosure in court! This one hour lunchtime talk show received high marks for Richard Kahn’s sharp detailed information to help those in need of help.

Kahn received phone calls from across the United States in response to Joe Wade Formicola’s explosive interview. Joe Wade came well prepared asking the tough questions and got all the straight answers he was looking for. Joe Wade says Kahn and his firm FPG-USA are helping those facing foreclosure, their attorneys and more importantly the millions who are out of work and can obtain the necessary online training to become mortgage foreclosure fraud investigators and work from home helping others. This broadcast followed Whitney Houston’s untimely death with interviews and funeral talk. Kahn took questions from the call in lines. This was an hour long Saturday lunchtime interview. Joe Wade is an exciting host with his finger on the pulse of his listener’s concerns, bringing important information to them.

Attorneys for BONY in the Florida Supreme Court Case BONY v PINO strongly objected to Kahn’s amicus “friend of the court” offer. No wonder, Kahn is nationally known to be very harsh on lenders using fraudulent methods in court to foreclose against borrowers. The fear that Kahn’s testimony would not be unbiased prompted the objections. BONY’s attorneys acknowledged Kahn’s unquestionable expertise in the process and that would undoubtedly hurt their case.

The language in their objection included “[Kahn] is not a party or entity who can assist the Court in an objective manner”. “[Kahn's] interest in mortgage foreclosure litigation [while] commendable”. [Kahn's] “background, experience and expertise” was not something BONY’s attorneys wanted to be submitted in this high profile case.

Kahn wrote in his amicus request that there needs to be “judicial control to prevent the open use of willful fraud”.

The NAAG Attorney General’s Mortgage Settlement addresses the same concerns Kahn and his FPG-USA have been reporting on for years. There is no question that Kahn and his firm takes the side of borrowers and if asked, investors; and their litigating attorneys.

Kahn says “It is a common tactic for lenders and their attorneys to object to borrower’s side having an expert of my caliber present evidence in the case. The kind of evidence I and my trained investigators turnsup is damaging and in the right litigating hands can pivot the evidence to turn the scales of justice in the borrower’s favor. It is no wonder the BONY attorneys are afraid of my testimony and objected. Nowhere does it say attorneys should invite their hangman to the party. I can’t blame them. My intentions have always been for lenders to self regulate and treat borrowers and investors with honesty and integrity. In the end, what I, my firm and my trained investigators do is helping the lending industry and mortgage backed securitizations. When the time comes for MBS to become popular again, issuers can look to us to analyze segments of proposed loan acquisitions ahead of time to make sure borrowers and investors are getting what they expect in a mortgage asset.

We are so busy empowering borrower side litigation that the time required to make pro-bono amicus will be well spent in support of our clients. If and when any litigigator or judiciary wants my investigatory and reporting talents, they know where to find me.

Fact is, the honorable Florida Supreme Court judiciary has smartly agreed not to prejudice the case with a biased testimony as mine would be on this robo-signing issue. These judges are extremely capable and fair, they are going to come to their conclusions and protect Florida’s esteemed court system on their own. I have the highest confidence in that.”

The banks threatened our legal system with bogus fraudulent documentation to foreclose in courts with faulty chains of title claims and robo-signed forged documents. Not one arrest has occured although tens of thousands of homeowners wrongfully lost their homes. Some of these unfortunate people get up to $2,000, the bank goes free and the home stays “lost”. The banks used “dual tracks” to feign negotiation of loan modifications when in fact they barreled down the track to foreclose instead. The banks were under Congressional order to modify loans under HAMP and didn’t because the banks would rather foreclose. That’s just the tip of the fraud and deception iceberg. $25 billion for the banks that received $1 trillion from US taxpayers is a paultry sum. Hopefully the settlements reforms to these practices will ensure integrity back to foreclsoures and save our court system from the falsity and deception banks have used to undermine America’s legal process. I commend the Attorney General’s for at least laying some prohibited practices going forward. Our job at FPG-USA is more important than ever. We need more investigators. If you know capable people, send them to our Academy to get trained and enter the marketplace to provide assistance and litigation support to borrowers facing unlawful foreclosure.

95.5 fm 1550 WUTQ’s Talk of the Town host Mark Piersma asked the right questions about the mortgage settlement and how it applies to those now facing foreclosure. The audience in upstate New York was thrilled to find out they had options. Many people are unemployed in that area and were excited to hear about fpg-usa’s Academy that trains mortgage foreclosure fraud investigators.

Richard and Kate Delaney, host of America Tonight, the nationally syndicated talk show had a field day talking about the national mortgage crisis nightmare. Kate asked many smart and pertinent questions, including how the recent National Association of Attorney General’s $25 billion settlement affects those currently facing foreclosure.

02/10/2012
By Richard Kahn, FPG-USA’s senior qualifying expert

This settlement involves the USA’s 5 largest loan servicers: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, Wells Fargo.

The settlement provides as much as $25 billion in relief over a 3 year window. Its the largest settlement in history after the Tobacco Industry settlement.

Links ar left are to the NAAG’s websites, don’t listen to intermediaries; go to the source. The Washington State AG has put up highlights, use the Settlement Standard Highlight link at left.

Many are asking me for my take. FPG-USA evidence and expert testimony is more important than ever. We expose and perform litigation support in exactly the areas the settlement addresses, so for our clients the promised benefits are exciting. For those relying on lender generosity or compliance it is a scary proposition and only a bandaid of relief.

The great thing is how the securitization aspect is protected, so FPG-USA and our client’s interests are more supported than ever. Borrowers and investors can pursue individual, institutional and class action cases regardless of the agreement. If you’re a borrower who is not contesting a questionable foreclosure and you’re relying on lender compliance and remedies, you’re getting a “band-aid” fix to a bleeding artery wound in my opinion, at best. But for our clients, the settlement empowers our services and that is GREAT news!

The settlement empowers areas of evidentiary reporting and litigation support that prohibit the banks from doing the types of things we routinely report on. Now areas we report on are “prohibited”. Robo-signing, improper documentation, lack of authority, inaccurate homeowner accounts, non-compliant foreclosure documentation in non-judicial foreclosure states, improper foreclosure trustee actions in collusion with agents, contractors, subsidiaries and affiliates.

The settlement appears to require banks and servicers to put up their own dollars in addition to the settlement dollars but unfortunately in my opinion, if you can’t break them in court with evidence of experts, you’re relying on lender compliance. The lenders made a great deal for themselves. The win is still going to be in the individual case in court.

• It doesn’t affect Fannie Mae/ Freddie Mac loans.
• $2,000 settlements to wrongfully foreclosed. are insignificant.
• $45,000 +- loan principal reductions insignificant.
• Servicing reforms haven’t worked in the recent past.
• 25% of the settlement goes to states and federal government.
• $3 billion mortgage refinance program is insignificant.
• States can still pursue civil claims including securitization claims. Yes!

Looks like the borrowers and attorneys we assist are still on their own but may have greater leverage in the areas we discover and report due to the new settlements.

The settlement doesn’t affect criminal liability, private claims by individuals and class actions, securitization issues, MERS and AG investigations into Wall Street and financial crisis fraud.

The settlement applies to the signing states (Oklahoma opted out) and the loans owned or serviced by the settling banks.

I don’t know any borrower wrongfully foreclosed with unlawful misrepresentation and fraud that is going to be satisfied with a $2,000 payoff. Being offered a $45,000 principal reduction when your mortgage is $100′s of thousands of dollars under water is insignificant. Letting the banks off of criminal charges for purveying fraud upon the courts benefits the banks. Americans paid $1 trillion in TARP funds and hundreds of billions to Fannie and Freddie. A $25 billion settlement that finds $5 billion going to states and federal coffers is, in my opinion, a huge disappointment. Hopefully the benefit will be these giant lenders finally “do the right thing” but if past actions are any indication, that is not going to happen. So here at FPG-USA and for our clients, it’s business as usual. Our business is “forcing” hands and “tipping scales”.

Richard Kahn, FPG-USA’s senior qualifying expert was a guest on todays show. He answered the tough questions about the new National Attorney General’s Mortgage Settlement and how it affects those facing wrongful foreclosure. FPG-USA’s services are now more important than ever.

Richard Kahn, FPG-USA’s nationally recognized securitization expert and author of their best seller Winning Against Foreclosure, a strategic guide made the one hour show as interesting as can be. Listeners were excited to learn that they have hope to fight and win against wrongful foreclosure fraud in courts by obtaining seasoned expert witnesses to perform credible mortgage foreclosure fraud investigations. Richard’s depth of knowledge in the industry is unsurpassed. It is a great pleasure and honor to meet someone who is not about money and all about helping people save their homes by finding and reporting evidence to combat lender’s false fabricated claims. We could compare Richard and FPG-USA in a way to Robin Hood and the Mortgaage Foreclosure Fraud Investigators trained in the FPG-USA Academy as the Merry Men and Women. This was a great radio program and Richard will have to come back to speak to the listeners on the Maryland Shore.

FPG-USA’s senior qualifying securitization expert answered host Michael Dresser’s questions on how his audience facing wrongful foreclosure can be helped. Michael picked up a copy of Richard’s book Winning Against Foreclosure and was blown away! The audience received insight into how we ended up in this mess, what we are up against, how the sytem works, what weapons are at our disposal, how to use the weapons to effect a good long term solution and how to win.