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Suntrust Mortgage Scandal / Billions in “Fake” SunTrust Loans…
« Last post by citizensscience on March 28, 2018, 07:09:24 PM »

SunTrust, Wells Fargo and “Fake” Loans…

Attention - SunTrust Consumers…

If you have a SunTrust Mortgage or Home Equity Line from SunTrust Bank you will want to pay close attention.

Shortly after SunTrust originated your loan, your loan is typically bundled with other loans and transferred in this case to Wells Fargo.  However, Wells Fargo and the Investors in these large pools of loans in many cases (Hundreds of Thousands) never physically received the loan documents from SunTrust.  These must have documents include, the Wet-Ink Note, Deed of Trust or Mortgage and are required to convey the 1) Right to Receive Payments under the underlying Note and 2) The Right to Enforce.   

Meaning, many homeowners are paying a party that lacks any rights in your loan.  These rights include for example, the right to collect your payments.  Said another way… Do you know who owns the rights to your loan? 

Are you paying the party who holds the rights to receive your payments or just a third party loan level sub contractor such as SunTrust Mortgage?

Suppose they didn’t have your loan documents?  Suppose they knew these documents did not exist yet you continued to pay this disinterested party.   Being a party not privy to the loans benefits how would this party be able to cancel your specific debt after you satisfied the debt?

This leaves many still owing the original face about of the loan plus years of interest and fees, all payable to the correct Noteholder.

It's through this scheme Wells Fargo, defrauded the United States by collecting over $1 billion in taxpayer funded credits for loans the bank knew  it lacked the required Original Promissory Notes and Mortgage commonly known as the Collateral Files.  What exactly did Wells do to receive these these credits… More on Credits later…

When you call to inquire about your loan, they use 5 terms interchangeable by design… They are: Lender, Servicer, Owner, Investor and Holder.  However it's the “Note-Holder” who in most every case holds both the right to collect and the right to enforce.

Recently a borrower called SunTrust to pay off their loan, the employee looked in the company’s computer system for the Promissory Note, telling the borrower it was an original.  When questioned SunTrusts Single Point of Contact went on and next, the note had morphed from an “original” into an “original copy”, “original imaged copy” and finally she said it was a “CURRENT VERSION” of the Original Note”. 
Click to listen, 

In a separate case when one Wells Fargo employee became aware of all of these missing notes from SunTrust they honestly conveyed the issue to the customers, their supervisor and others within Wells Fargo.  Within 24 hours they had received multiple emails from Wells Fargo headquarters that the loan documents were in-fact missing and that the company did not have the customers note to enforce the loan or collect the past payments.

Rather than Wells Fargo forwarding the wrongfully collected payments to the correct note holder, something big occurred…   Wells Fargo trickled out “Balloon” Letters to borrowers and directed its employees to lie to its customers and treat the loan like it was a “Balloon-Loan” and its final balloon payment was soon due….

This achieved several things… First, an unsophisticated borrower or elderly homeowner perhaps may actually believe the bank and pay off the fake balloon loan again that was far from being due.  Second, those families that were unprepared and unable to pay off the fake balloon loan were fortunate, in a sick way… Wells was ready to help them by way of a “Modification” or in its true sense “Double-Book” a loan that SunTrust nor Wells Fargo held a right to, all by way of all new wet-ink loan contract. 

You see, this really helps SunTrust.  As SunTrust escaped having to buyback / repurchase hundreds of thousands of defecent loans stemming from SunTrust materially misrepresenting and warranting said loans in the secondary market.  You see SunTrust was broke.  They owed the Private Federal Home Loan Bank “Billions” in off balance sheet loans secured by “questionable" collateral…. This while the SunTrust shareholders dividends remained at near recored lows.

Meaning the “Too Big to Jail” bankers make out, the elderly likely cashed in financial products resulting in costly prepayment penalties and those who modified their loans now owe a SECOND loan and STILL Owe the Original loan which is payable to the current Holder of that still VALID Debt and is hidden behind a wall known as MERS.

For more on how Wells Fargo colludes with SunTrust , Click to listen,

If you found this of interest please consider sharing with others…

Thank you…
Rep. Steinburg has been retired since 1989 and collecting two disability checks for the past 29 years... 

Not that there's anything wrong with collecting checks if your disabled....

Given Steinburg's mileage historical reimbursements it just seems like a lot of driving for someone with a disability... 

Perhaps Steinberg could apply at the "Postal" Office since he's in the car so much of the time already...  collecting over $100K in mileage and per diem as a member of the General Assembly.   #VoteTwiddy, #RentTwiddy and #FishObx

Clark Twitty, Bob Steinburg, Senate


Wells Fargo gets "Hood-Winked" in SunTrust "Fake" Loan Scheme...

Wells Fargo loan servicing employee "Fired" for refusing to lie to consumers who were sold "Fake" Loans from SunTrust...

SunTrust Scandal, Wells Fargo Scandal fake accounts, US Bank Scandal
Suntrust Mortgage Scandal / Re: Suntrust Mortgage Scandal
« Last post by citizensscience on March 26, 2018, 10:38:54 PM »
SunTrust Mortgage Scandal

Wells Fargo, US Bank, Sun Trust Mortgage Scandal
Suntrust Mortgage Scandal / Suntrust Mortgage Scandal
« Last post by citizensscience on March 24, 2018, 05:54:05 PM »
SunTrust Scandal, US Bank National Association, US Bank Corp, Wells Fargo

US Bank Corp. “Snared” in SunTrust Mortgage Scandal

NOTICE - Alleged Material Breach of RMBS Trustee Fiduciary Duties  by Mortgage Backed Security “Trustee” U.S. Bank National Association N.A. - US Bank Corp.

Below specific information is conveyed to US Bank a large MBS Trustee, with Wells Fargo acting as Master Servicer over its sub-contracted Sub-Servicer SunTrust Mortgage Inc. 

It is the Trustee (US Bank) who holds the securitized mortgages on behalf of the pool of Certificate Holders commonly referred to as Investors or Bond Holders.  These can be GSE's such as Freddie Mac, Fannie Mae, large institutional investors and Pension Funds such as the North Carolina State Employees Trust Fund who historically were heavily invested in these securities.

When these deals as they are commonly called are put together, the custodian is to check each file within generally 90 days to ensure the documents actually exist, like the Wet-Ink Note for example.  These exceptions are tabulated and controlled by various rule ticklers and specific codes to identify the severity of the exception and compare to what was warranted and represented within the PSA.   Not are the hard files to be examined but the electronic data file must be checked in to ensure for example it includes the correct “Notice of Rate Change”, “Property Address” and note balance to name a few.

Exceptions / Breach examples included:

- Pmt Change Frequency Does Not Agree With Schedule
- First Interest Rate Adjustment Date differs from Schedule
- Incorrect ARM Index
- Interest Rate Adj Frequency Does NOT Agree with Schedule
- Pmt Change Frequency Does Not Agree With Schedule
- ARM Lookback Period is Missing and Incorrect

Next the custodian tabulates the finding and sends all interested parties a Certification / Exception report listing all the missing: Notes, Final Note Endorsement to Specific Trust, Deed of Trust, Final Assignment.

Corrective actions rolls back up-line to cure these material breaches to ensure the Certificate Holders are brought whole.  Said another way, its much like buying a vehicle based off the items and options listed on the window sticker, then executing the purchase sight unseen, to only later find when your vehicle arrives it lacks the “Engine”.

Once these initial interested parties have been provided specific set about of time to cure the documented exceptions, missing documents and material deficiencies at that point the burden would shift to US Bank National Association N.A. as Trustee to “Enforce” the warranties and representation conveyed by both the seller and depositor.  The Trustee MUST FOLLOW UP on each action of enforcement or can sustain significant risk inclusive of lost earnings, reputational risk, compliance risk, regulatory risk given the very intent of the Trustee purpose is, to have responsibility over the deal documents / PSA’s.  These responsibilities include the review and legal oversight over every aspects the transactions as the Trustees very intent is to, act as the Fiduciary to the MBS Trust and FOLLOW UP on known ticklers and or issues brought forward to the Trustee.

Therefor if US Bank as Trustee is “CAUGHT” not acting in the best interest of the Certificate Holders it represents the Trustee may become exposed to risk and damages brought on behalf of specific Certificate Holders like, for example the North Carolina State Employee Pension Fund.

In the email string below, US Bank as Trustee shows NO intent to cure this alleged breach that was specifically brought to US Banks attention.

From: Redacted [Redacted]
Sent: Wednesday, February 21, 2018 12:29 PM
To: Goldade, Kevin J <>
Subject: [EXTERNAL] Re: Suntrust
Mr. Goldade -
As discussed - Please find the 2006 note with MERS# included.  Second, please find the Certified letter rcvd from Wells Fargo.  Third, you find a letter from STM dated 2/15/2017 that alters their longstanding statutory language, seeming to take a deliberate effort to walk back what has been previously conveyed. 
Specifically, STM inserted "For informational purposes" rather than simply stating who the owner / investor of the underlying instrument is.
STM, is very aware of what has occurred with these loans between Wells, US Bank National and SunTrust Bank Inc as "Collateral Custodian"...
Further, I'm in possession of documents acknowledging the wide spread issues inclusive of Double Pledged assets known by Wells Fargo acting as Master Servicer. 
Finally, I’ve attached 3 different LNA that the Sub-Servicer has presented, one stating STB (SunTrust Bank) was the NoteHolder with the other two LNA’s stating based on personal knowledge STM (SunTrust Mortgage) is the NoteHolder. 
I look forward to working with U.S. Bank National Association NA and providing documents in my possession to aid your firm in its investigative efforts into the widespread allegations previously discussed at length.
I'd like to also thank you and US Bank National Association for the quick response given the seriousness of my investigative finding and subsequent allegations.

From: "Goldade, Kevin J" <>
Date: February 21, 2018 at 2:07:05 PM EST
To: Redacted <Redacted>
Subject: RE:  Re: Suntrust

Redacted - I went to county records and cannot find anything that indicates we are or even were the trustee so unless you can provide something that shows we are trustee I cannot move forward as we are not a party to the complaint.
Kevin J. Goldade |
GSF Specialized MBS Services | Mortgage Research

US Bank National Association
60 Livingston Avenue | St. Paul, MN 55107

From: Redacted[mailto:Redacted]
Sent: Thursday, February 22, 2018 1:43 PM
To: Goldade, Kevin J <>
Subject: [EXTERNAL] Release Deed

Mr. Goldade -

I think you will find this document serves to identify what the Sub-Servicer (SunTrust Mortgage) has done.  I have also included the first page of two of the notes serving to identify the initial loan amounts.

It appears, the Sub Servicer knowingly released the security that backed at least two mortgages that contractually remain active inside their respective trust.

Please identify each of these Trust as it relates to U.S. Bank National Association NA as I would like to see if my finding aligns.

If this could be expedited it would be greatly appreciated.

Thank you -

From: "Goldade, Kevin J" <>
Date: February 22, 2018 at 3:39:56 PM EST
To: Redacted <Redacted>
Subject: RE:  Release Deed

We contacted Suntrust and they stated we are not the trustee. Since we are not a party to your complaint
and have no further information to provide to you, we will not respond to any future correspondence from you.
Please direct all future correspondence to Suntrust and/or their counsel
Kevin J. Goldade |
GSF Specialized MBS Services | Mortgage Research

US Bank National Association
60 Livingston Avenue | St. Paul, MN 55107

Suntrust Mortgage Scandal / Suntrust Mortgage Scandal
« Last post by citizensscience on March 22, 2018, 08:52:05 PM »
Mortgage Fraud SunTrust Scandal Corelogic Tax Service

Date: March 22, 2018 at 8:47:15 PM EDT
To: Jerome Lienhard <>,,,,, Mark Chancy <>

Subject: Corelogic has a "Jerome" problem...

Mr. Lienhard -

As the former CEO of SunTrust Mortgage and current Chief Risk Officer of SunTrust Bank I thought I'd remind you of your Wet-Ink Criminal Settlement "Signature"...

Based on the link below it appears as if "Corelogic" is "Entangled" with SunTrust??   

Is this Assurant 2.0??

Racketeering or just Steering?  I'm not sure so thought I'd ask...

Kinda makes ur head hurt doesn't it...,613.msg2239.html#msg2239

SunTrust Mortgage Scandal

Corelogic becomes "Entangled" in SunTrust Mortgage "Tax" Scheme...

Begin forwarded message:

From: <redacted>
Date: March 21, 2018 at 11:44:29 PM EDT
To: Citizens Science <>
Subject: Tax fee

Thank you for exposing this, we hate SunTrust.  They imply the tax service fee is imposed charge from Corelogic.

Suntrust never asked us which tax service company we wanted to use.


Suntrust Mortgage Scandal / SunTrust Mortgage “Tax” Scheme -
« Last post by citizensscience on March 21, 2018, 06:49:01 PM »
SunTrust Mortgage Scandal

Did SunTrust Mortgage “Hood-Wink” you over the Tax Service Fee?  Let’s not forget those who may be enrolled in escrow, in the below borrowers state SunTrust retains the interest earned on the borrowers escrow funds.  Nothing like low hanging fruit…

Go pull your HUD statement tonight and see if you were charged a Tax Service Fee!

For those just joining us, click here to see just how hard SunTrust worked to cover this all up and circumvent the Truth in Lending Disclosures….,613.msg2236.html#msg2236

Perhaps its time for the SunTrust Board of Directors to have a serious sit-down with their Chief Risk Officer… Mr.

Section 2 of the Deed of Trust

Wells Fargo
Suntrust Mortgage Scandal / crooked suntrust
« Last post by Jeff Richer on March 21, 2018, 08:14:49 AM »
I don’t know who the heck citizens science is but you guys are damm good.  thankfully I don’t have a suntrust loan and after reading this you can bet I will never have a loan with them.  my family is in charlotte, nc and we passed a gigantic billboard that said suntrust fake loans and my buddy said well suntrust has poked the wrong bear.  so we googled suntrust scandal up and have been cracking up reading the emails you all have sent to the head people at suntrust. 

if you had a link id donate to help buy more fake loan suntrust billboards. 

suntrust = crooks!!!!!!    jeff
SunTrust Mortgage Scandal

Shhh…. Don’t disclose SunTrust Mortgage “Tax” Service Scheme…

SunTrust subsidiary, ValuTree brought in a million dollars in “Fee” profit, during the first year alone. ValuTree employees received 22 percent of their salaries in bonuses–four times what they would have made had they stayed at SunTrust.

When Pat Rollins, division manager of ValuTree, was given the chance to forma new real estate services company within SunTrust Mortgage, she wanted to be sure that every employee on her team was committed to its success. The new company brought procurement and payment of SunTrust clients’ tax bills in-house–services previously performed by external vendors.

SunTrust employees had often complained about the out source system, but they also used it as a scapegoat, Rollins says. “If something went wrong with a taxbill, there was always someone to blame,” she says. “At ValuTree we arefully responsible for all of the tax services. If we mess up, it’s our fault.”

She took half of the staff from Sun Trust’s tax service department to launch the new venture. To secure their loyalty and excitement, Rollins crafted a new pay-for-performance reward and recognition system that includes financial incentives, parties, and weekly conferences to recognize performance. The program encourages employees to improve accuracy in billing, lower error rates, and reduce overall costs. At the end of the year, if Rollins’s team meets a set savings goal, they receive a percentage of every dollar beyond it that they save the company.

But providing a financial payoff wasn’t enough to make the program successful. It would only work if employees understood the impact their behaviorhad on the company, she says. “It required a cultural shift, forcing the employees to think of ValuTree as their own business.”

She thinks it would have worked without the financial incentive as long as there was recognition, but the money got it rolling faster.

So Rollins introduced weekly meetings, in which one group of employees stands in front of the rest of the group and explains how their efforts that week affected the business–positively or negatively. In preparation for a busy fourth quarter, for example, one group set up tax bill payments in advance to avoid last-minute overtime costs. “The meetings force everyone to understand the dynamics of what they do and to see how all of their efforts tie together,” Rollins says.

In the beginning, teams attended meetings grudgingly, but after a while they got excited, and more and more team members started showing up to support each other. “Now, when one group has a success story to share, everyone celebrates,”she says. And when they make a mistake, instead of attacking each other, they try to find ways to fix the problems.

An individual employee, for example, might have missed an important due date, which resulted in significant financial penalties. Rollins was afraid they would all blame the individual responsible for the error, but instead many of them acknowledged that they knew she was overwhelmed that week and did not offer to help. They spent the rest of the meeting brain storming ways to avoid making similar mistakes in the future. “As a manager, it is amazing to see lower-level employees that committed to the business.”

When errors happen, ValuTree uses corporate funds from SunTrust to pay the costs, then the company has to pay that money back before it sees any new profits. In the past, no one cared about that debt, and it easily got out ofcontrol, Rollins says. Now she posts the debt on a board in the office, updating the balance twice weekly. “It’s like a credit card; if they don’t pay it off, they lose their incentives.”

At the end of each month, Rollins throws a low-cost party to celebrate the team’s efforts, and to go over the cost-savings they’ve compiled over the year. At those parties she acknowledges individuals who have contributed significantly to the savings for that month. Several employees have told her they’ve never received this kind of recognition from a manager before. “Just to hear their names tied to an accomplishment gives them a sense of pride in their work,” she says.

The incentive program has had a huge impact on the success rate. In the first year, ValuTree saved SunTrust a million dollars and her team received 22 percent of their salaries in bonuses–four times what they would have made had they stayed in SunTrust.

It also has changed the way they approach their jobs, she says. In early 2002, for example, the team began evaluating the duties of any employees who quit to determine whether they should be replaced or if the team could absorb their workload. As a result, this year they opted not to replace two employees who left, in order to improve efficiency and profits. “They are thinking like business owners, and seeing the value their choices and efforts have to the company,” Rollins says.

The key to the program is not the money. It’s making sure employees understand their role in the business, Rollins says. She thinks it would have worked without the financial incentive as long as there was recognition, but the money got it rolling faster. Within six months of launching the program, she saw a reduction in billing errors. “The incentive tied it all together. When they do well they see the rewards, and when they screw up they feel the pain.”

foreclosure, tax service, mortgage escrow, bankruptcy, suntrust bank, suntrust scandal, suntrust mortgage, lender liability, lost note, lost note affidavit, robo signing, robo signer, Brock and Scott, Brock and Scott foreclosure, mortgage fraud
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