Mortgage Fraud Blog - Aurora Loan Services v. D&M Financial Corporation, Inc.

Aurora Loan Services v. D&M Financial Corporation, Inc.

Aurora Loan Services, Inc. filed a Civil Complaint in the United States District Court for the District of New Jersey against D&M Financial Corporation, Inc. The complaint alleges that D&M failed to honor its repurchase obligations under a Loan Purchase Agreement with ALS and seeks damages for breach of contract and unjust enrichment. The complaint alleges defaults in connection with 28 loans (details of which are included on an exhibit to the complaint) including defaults concerning misrepresentations of debt and income, defaults relating to valuation, eligibility defaults, early payment defaults and other misrepresentations.

D&M, along with multiple other defendants, was also named in a civil action filed in the United States District Court for the Eastern District of New York by a borrower. Click here to view a copy of that complaint.

mortgage fraud

I bought a home through Leham Brothers/Luna Mortgage in Lake Dallas, Texas. The person who processed the loan was a Lameka Weeks. She is the only one I ever spoke with and I do not believe she is a certified licensed Loan Officer. There were so many things done without my knowledge or explaining what the documents were until after they rushed me to close the papers. I did not even get the preliminary papers before closing. She told them wrong employment for me, told me to lie as to where I lived, worked, and had me give an address I did not live at which was her address to keep me from knowing all the particulars of the loan. No documents were explained to me. She placed an interest only loan on the place I bought, which I did not know what kind of loan that was until after the fact. I did not get my loan papers from closing for 2 months. She then wanted to manage my property and did so without a brokers license,management agreement, her associated acted as a land management owner to get more money from me on a home he claimed they owned for repairs, the loan was never paid, I partcially sued them for monies due. She screwed my whole house deal up by convincing me that documents had to be done this way in order to process the loan. She kept me in the dark about so many things regarding my loan now I find out an escrow waiver form was signed where the owner never paid any taxes on the property and I am stuck with $7,397 in taxes on the property of which the seller should have paid his share at closing. None of this was explained to me or anything else regarding this loan. Now it started out in a Lunar Mortgage/Lehman brothers bank in Dallas did one loan and a BMC mortgage in Irvine California did another. Now I find out it is at some Chase Home Financial in Arizona. I need some advice on how to get these people for deceptive bankig practices.

Posted by on 10/12 at 03:28 AM

I am trying to locate a phone number for Aurora Loan Services, Inc. I want reach them concerning a piece of property they had a mortgage on and foreclosed. I am a realtor and have a customer who wants to purchase the property.

Posted by on 12/06 at 05:41 AM

Aurora had a BPO completed on the short sale of my home........ the person completing the BPO stated on the record that Aurora “requires” him to “only use the highest and best values in the area.” My home is a 3/1 with a leaking roof.......... the values used were a 4/2 and a 3/2 from sales over 1 year ago!

Posted by on 03/24 at 04:35 AM

Ah, I’m sorry, but just because someone tells you to lie doesn’t mean you do it. It is not the other persons’ fault if you ‘Agree’ to lie...... is it? You are old enough to know what is right and what is wrong, don’t you? Sorry, but the ‘being forced to lie’ argument doesn’t hold much with me. However, I know when I bought my house I got screwed, but not in the same way you did. My realtor had me meet him 10 minutes before we went to sign the closing papers, and told me the house had a problem with the toilet, but they just dump salt down it and it’s ok. Then we went into the closing and I hadn’t had ANY time to think about this. I should have haulted everything, as it turns out the house needs new plumbing. Also, the inspector who told me I would know everything there was to know about the house before I bought it, failed to tell me the wiring was dangerously bad and that the entire house wasn’t even grounded. I had to have the house rewired. But, no one asked me to lie. Also, the mtg company, the lady who set it up for me, I gave her the number of my insurance company, but, a week after I was in the house, some guy shows up, telling me he’s my insurance agent? Who are you? No, not the ins. co. I paid for, nope. He got mad and left, saying he’s the ins. co. for all these houses from this mtg. I call the lady who set all this up, the escrow and everything, and she acts like she doesn’t know how that could have happened, and I had to pay my first year insurance up front. So, they lied to me a lot, but never asked me to lie, and if they had, I would have gone elsewhere. So, yes, I understand not getting paper work explained, or even being lied to, but I don’t understand how you can ‘comply’ with them and ‘lie’ knowingly?

Posted by on 07/01 at 10:47 PM

I bought my home in 2004. At the time, I had two jobs and no dependents. Life happens. I had a baby and had to quit a job. My income was cut substantially, so I used credit cards to pay bills, etc. In Aug. 2006 I looked into refinancing my mortgage to pull out equity to pay off credit card debt. My lender suggested creative ways refinance. I did not have enough money in my checking account to qualify for the refinance. She said not to worry that she could take care of it on her end. And convinced me that she had my best interest in mind. She stated that it would be temporary as I could refinance in 4 months as there were no pre-payment penalties.She said that she was not charging any points or closing cost but really wanted to help me. I in turn, accepted a terrible loan in order to pull out equity to pay off the debt. Unfortunately, I was not able to refinance after all as my LTV was too high and I did not qualify for any loans offered at the time. She later called me and said that her company was investigating her and if they called me don’t divulge that I did not have any money in my checking account when the loan closed because they would foreclose on my house. I never got the call from the agency, so I don’t know what happened. But I am still in the property and struggling to make payments. What can I do?

Posted by on 08/06 at 11:45 AM

Hi.
My wife and I wanted to play it safe on our loan situation with asking some legal questions about the Modifying of a home loan. We would like some background, that became very Questionable, in what we felt was wrong when told it was ok, to do so, in the breaking of a contract of hardship plane. Finding it hard to trust the loan agency that we are working with.

Posted by on 10/13 at 03:58 PM

my work phone is 202-418-1825.

I need your help for fraud on mortgage.

Thanks!

Posted by on 02/11 at 06:36 AM

I know when I bought my house I got screwed, but not in the same way you did. My realtor had me meet him 10 minutes before we went to sign the closing papers

Posted by on 02/11 at 11:15 PM

Aurora Loan Services is nothing more than a fraud and loan predator. They lie, cheat, and take your home. They do not want to help. They absolutely fall under the unfair loan practices. A class action lawsuit against them must be filed soon..............
please contact me:
jadewhitehead@yahoo.com

Posted by on 06/16 at 08:04 PM

My Fiance is having the same troubles with Aurora. They are of no help at all. They refuse to modify the loan until she catches up on what she is behind,of course they want 3,500 dollars a month to do so!She got a no doc loan for 315,000 dollars that there was no way she could afford it.Please let me know if there is anywhere or anyone we can talk to to helpo in this matter. Also if there is a suit being filed against these thieves we would like to know!

Posted by on 08/03 at 05:53 AM

I’m California and unfortunately Aurora is my servicer. I’ve been trying since Dec-08 to modify my loan and they finally offered me a mod but it was $1600 more than I was already paying! So in July-09 I applied for the Obama HAMP program which I fully qualify for both financial and home value wise but guess what…Aurora says there nothing that can do for me except to offer me a short sale. Thanks to Aurora my wife, two young kids, and myself will be out of home within a year if I can’t get help.
I’ve never been late on a payment…maybe that’s the problem!

Posted by on 09/16 at 08:55 AM

DO NOT DO A LOAN MOD. PLAN FOR abcde type of situations!
The 3 month trial period is a scam………..PLEASE if you are in desperation, do not pay anyone for anything. I can’t stress this over the internet but if you search for loan mods that are going or went through they are lies. Not just mine and I’m still in one right now, but hundreds that have had the time to tell the American people about the fraud by sending this. Here is a hint: you send 1200 for the 3 month trial every month: part goes to taxes, part to home insurance and the rest is in their pocket….not towards your mortgage. PLEASE SAVE YOUR MONEY AND DO NOT SPEND YOUR SAVINGS!!!

PS. I canceled the check before they are getting’ my 3rd month trial payment. Class action is what I do believe is what would be needed in this whole foreclosure scheme/SCAM!cside702@aol.com

Posted by on 10/30 at 09:36 PM

Someone who claims to represent Aurora Loan Services has called me twice in 3 days to tell me that my payment/payment envelope was scanned, yet lost in the mail in AZ. They also will not offer anything in the way of reimbersing me for a cancelled check fee. Even though they know we sent it. Very odd practice here, curious if others got the same story? I am worried this is huge scam, and people need to watch out.

Posted by on 12/26 at 06:37 AM

Almost two years and Aurora still refuses to modify my loan. They have violated every section listed in the NY class action lawsuit.
I will join any lawsuit against them.

jadewhitehead@yahoo.com
831-578-4398

Posted by on 01/06 at 07:33 AM

Aurora Loan Services will NOT modify loans, especially in California where the largest amount of Negative Amortization Option ARM loans are, for which I have. I have been trying to get my loan modified for two years, but Aurora refuses to help me and have told me to let the home go and I knew what kind of loan I was getting in to. HAMP guidelines state that the NPV is based on the principal, interest, taxes, insurance, etc. However, they are basing my NPV value on the minimum option ARM payment. Does anyone have any information on this? Aurora is blaming the US Treasury Dept for this. According to HAMP guidelines, they could modify my loan for other reasons as well. They rather take our homes from us than letting us keep them. To top things off, I was scammed for a few thousand dollars for loan modification and she is a California Bar attorney with no negatives on her license. Go figure.

Posted by on 01/28 at 12:58 PM

I feel like we are mistreated and deceived by Aurora Loan Services. One year ago we applied for a loan modification. Since then we were rejected for three contradictory reasons. At first they misinterpreted our income and refused us because of our income being too low so we cannot afford to pay our payments. Their wrong estimate showed that our expenses are about $300 more then our income. We were refused regardless that we pay the very high mortgage payments on the house for three years and we never missed or were late. It sounded as a joke, we are asking for lower payments not higher.
We replied proving our income about $300 more then our expenses. We got refused for being able to afford the payments. By the time we received the second denial our situation has changed. Property taxes and utility bills have increased.
We replied again proving that we come out even with our income and expenses. We got rejected again for the income of our property being still too high so we can afford our payments. After several calls no one could explain to us what is the window of opportunity. What the difference between income and expenses should be in order to qualify for their Loan Modification. It looks like that Aurora Loan Services come up with any reason to just refuse homeowners the modification regardless that they receive Federal money to do so.
Our hardship explanation:
Three years ago my husband and I made a bad choice. We invested $15000, which was our entire 401 k plan and all our savings, and bought four units rental property. We accepted 9.45% interest hoping that we would be able to refinance soon. Because the property value did not appreciate we are still not eligible for refinancing. (Our property is in a beautiful historical area in Joliet. So we believe that the value at least did not go down.)
We are 65 years old and still work. We try to protect our investment by keeping the house fully occupied, do all necessary repairs and pay all the bills. We also extremely minimized our living situation and rented the apartment in our residential house and moved into a very small basement area without a kitchen area or stove.
We keep emergency money that covers two mortgage payments in the bank and pride ourselves in having an excellent credit. We believe that we qualify as responsible homeowners who need help. We would like to keep the house, however to continue loosing $600 every month does not make sense. 9.45% interest is extremely high. If we were younger we would take our chances and kept the house. In our age we feel like we are forced to foreclose. We wonder who can possibly benefit from our foreclosing?
Our lender is Lehman Brothers and they own Aurora Loan Services. We know that Lehman Brothers filed for bankruptcy. We also know that Aurora Loan Services receive funds from the government to help homeowners to modify their mortgages and on the Internet there are many complaints about them.
I believe it is worth of investigating to find out how many loan modifications Aurora Services actually gives and what is their required “monthly housing ratio to income”. I think I have enough proves that they don’t have any; they just refuse homeowners for having the ratio too high or too little. I believe it is deception, if the ratio exists I would be able to figure out if I were eligible for modification and save ourselves from aggravations and may be have counted our loses, and walked away a year ago. By now we could have had some money saved for our retirement.
I would appreciate your help to expose Aurora Loan Modification wrongdoing.

Posted by on 02/05 at 12:55 PM

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TRIAL COVERAGE

Trial coverage provided by Anne Mitchell, Crazy Fish Realty.

Follow Anne on Twitter.

Thursday, February 18, 2010

F. Jeffrey Miller Trial - 1 Convicted, 3 Acquitted

The jury deliberated for approximately 3 days after receiving their jury instructions. They asked one question:

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Judge Julie Robinson responded by admonishing the jurors to read all of the instructions.

The jury presented its' verdict...

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According to Anne Mitchell, who is present in court for the trial:

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