2017-02-02 DOUBLE SALE & NOTE PLEDGE FRAUD IN SECURITIZATION &

FORECLOSURE NYE LAVALLE: Posted on02 February 2017.

BACKGROUND

Association of Certified Fraud Examiners

Mortgage fraud continues to threaten the health of our nations financial markets and economy.
Anti-fraud professionals are needed to combat this global problem. The Association of Certified
Fraud Examiners (ACFE) is the worlds largest anti-fraud organization with nearly 80,000
members who are committed to reducing business fraud worldwide. The ACFE provides anti-
fraud training and education to its members and businesses across the world. As part of their
anti-fraud efforts in the mortgage markets, the ACFE provides training and exams in the area of
mortgage fraud. One such training course was developed that is titled Understanding the Basics
of Mortgage Fraud. In this course, ACFE members explore the history of the mortgage industry
and its role in the global financial crisis and examine the life cycle of a mortgage loan to identify
potential areas for fraud and learn techniques to recognize red flags of common mortgage fraud
schemes and methods for prevention. One such scheme is the focus of this report that I have been
writing and warning about for two decades. Its called the Double-Pledge or Double-Sale
loan and note scheme where a borrowers promissory note and loan are sold, transferred, or
pledged to more than one lender. In Understanding the Basics of Mortgage Fraud, the ACFE
writes the following:

Fraud Trends Involving Lenders

A scheme used by lenders to raise capital is to the sell the same mortgage loan to more than one
secondary-market investor; this scheme known as the double-sold loan. The original loan
documentation is duplicated and sold more than once in the secondary market. To conceal the
scheme, the lender remits the scheduled principal and interest payments to the servicer. Since all
loans remain current, the borrower is not aware that his mortgage has been double-pledged
unless one of the loans goes into foreclosure.

Red flags for this scheme include:

Someone other than the borrower is making payments on the loan.

The borrower receives late notices or tax invoices on more than one loan.

The borrower notices more than one loan on his credit report.

The lender fails to provide the note to the document custodian.

Final Double Pledge Report by DinSFLA on Scribd

2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
After The Storm Foreclosure Fraud & Robo-Signing Continues by Nye Lavalle Foreclosure Fraud
& Robo-Signing Continues A Year Ago, A Storm...

1. OCJ CASE NO. 5595 | Confidential Report to Fannie Mae Regarding Shareholder
Complaints of Foreclosure Fraud by Mr. Nye Lavalle EXECUTIVE SUMMARY The Office of
Corporate Justice has retained Baker...
2. Important Evidence & Affidavit in Foreclosure Law Firm, Robo-Signing, & MBS
Investigation From Nye Lavalle to Attorneys General Dear Attorneys General: Recently, the
Office of Inspector General for...

3. Coker vs JP Morgan Chase | SUPREME COURT OF CALIFORNIA the statutes

antideficiency protection applies not only when a bank initiates a foreclosure sale, but
also when a defaulting borrower arranges a short sale H/T Gary Dubin Filed 1/21/16 IN THE
SUPREME COURT OF...

4. EMC Mtge. Corp. v Carlo | NYSC Vacates Foreclosure Sale, Plaintiff has not
demonstrated ownership of the mortgage and note prior to commence foreclosure action
SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF...

CONTROL FRAUD | If you dont look; you dont find, Wherever you look; you will find
-William Black

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dinsfla
VASSALLE v MIDLAND FUNDING LLC, ENCORE | U.S. Sixth Circuit Appeals Court
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 NYE LAVALLE: DOUBLE SALE & NOTE PLEDGE FRAUD IN SECURITIZATION
& FORECLOSURE by dinsfla
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