Firm claims 75% of Mortgage Assignments Invalid in Mass. County
75% of recent mortgage assignments are invalid. About 27% of invalid assignments are fraudulent, while 35% are robo-signed and 10% violate the Massachusetts Mortgage Fraud Statute.
Palm Coast, FL – June 30, 2011
"What this means is that the degradation in standards of commerce by which the banks originated, sold and securitized these mortgages are so fatally flawed that the institutions, including many pension funds, that purchased these mortgages don’t actually own them," according to the firm. "The assignments of mortgage were never prepared, executed and delivered to them in the normal course of business at the time of the transaction."
Full Story >>>> HousingWire [June 29]
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