The problem with qui tam in connection with mortgages and foreclosures is that they have not yet worked except in rare instances. The biggest hurdle seems to be that the agency that supposedly got defrauded (e.g. FDIC) by false claims steps forward and says it was OK. You can’t force them to admit that they […]

Tags: qui tam, qui tam complaint, securitization, securitization of debt, securitization of mortgages
Posted in Uncategorized |

Until this decision I had assumed that Qui Tam actions were essentially dead in relation to the mortgage meltdown. Now I don’t think so. The question presented is whether actions brought by a private person acting as a relator on behalf of a government entity can bring claims for damages under the False Claims Act. […]

Tags: ARIZONA, False Claims Act, FCA, qui tam, statute of limitations, title, transfer, TRUTH
Posted in Fabrication of documents, legal standing, Modification, Pleading |

This lawsuit reveals a reason for Chase slipping in a new servicer into the chain. Having already discharged or released a loan, the “accounts” were nonetheless transferred or sold in derogation of the rights of investors who had already purchased them from Chase. Chase decreased its liabilities, increased its revenues, avoided its obligations, and provided […]

Tags: Chase fraudulent claims, disclosure, FCA, foreclosure defense, foreclosure offense, fraud, HAMP, NMSA, qui tam, RCV1, securitization, system of records
Posted in Uncategorized |