Ocwen Investors Sue After Foreclosurepedia’s Article

Foreclosurepedia announces bucket list to include pissing on John Ward and Steve Cossingham's graves.

This entry is part 3 of 6 in the series On The Street

Foreclosurepedia was the first to break the story, in the Mortgage Field Services, about Ocwen walking its investors around by a nose ring much like cattle to the slaughter. Losing 54 percent of their value in less than three hours, investors are not playing games and Khang & Khang LLP are filing suit on their behalf. The suit is based, in part, upon,

[…] Ocwen made false and/or misleading statements and/or failed to disclose: that the Company engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process; that this conduct would subject Ocwen to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On April 20, 2017, the U.S. Consumer Financial Protection Bureau announced that it was suing Ocwen, and several states issued cease-and-desist orders against the Company.

So, we have Ocwen loosing 54% of value; we have 20 states whom have pulled their licensing to acquire new or manage current mortgages; and we have the Consumer Financial Protection Bureau (CFPB) filing yet another suit.

Altisource is paying the price, as well. In fact, Patricia E McTaggart whom implements the Altisource Do Not Use list at Altisource with the apparent approval of Eric Miller, the National Association of Mortgage Field Services (NAMFS) Executive Director, is feeling the heat. Altisource’s value plummeted nearly 41% as it hitched a ride to Ocwen whom they allegedly have no involvement nor dependency upon. With Altisource’s fate pinned to the collapsed Erbey Empire, the reality is that not even Wells Fargo will be capable of salvaging that which Patricia E McTaggart, that Minority Female and Labor hating zealot in Atlanta, has spent her life building. You see, there will be no offers of 30 cents on the dollar to bail out the mess she oversaw spinning up at Birdsey Group and Laudan Properties.

Minority Females and Labor have the opportunity to take a stand. And the reality is that if you are currently performing Altisource work you may bet your bottom dollar that there are going to be massive revenue chargebacks. With nearly NINETY FIVE PERCENT of all services tied directly to Ocwen, Altisource has hitched its sails in a typical Bill Shepro mentality. And the last thing that Altisource needs right now is a walkout by Minority Females and Labor. Unless and until Patricia E McTaggart is terminated, that is precisely what Foreclosurepedia is calling for. You see, that is the dirty little secret Altisource doesn’t want out there. Altisource does not want the Trump Administration aware of the simple and salient fact that Patricia E McTaggart is overtly employing an obviously racist Do Not Use list on behalf of a foreign national.

And the sycophants are gathering round as this storm begins to take shape. You see, several weeks ago, the Do Not Use list was on the radar like a tropical disturbance off the West Coast of Africa near the Cape Verde Islands. The DEWS — the Distant Early Warning System — alerts were there. Complaints were initiated with Patricia E McTaggart and Altisource in Uruguay and Atlanta. The safeguards which were allegedly in play were already at their breaking point as Minority Females and Labor were never supposed to attack the very system in which they were slaves to. With Patricia E McTaggart overseeing the case wherein Michael Dougherty and Reid Schermer of Birdsey Group had defrauded Presentable Properties, Altisource was on edge. We know that Birdsey Group has paid out tens of thousands of dollars over the past several years and pocketed hundreds of thousands in return. Birdsey Group along with Laudan Properties have always bound their victims to a Non Disclosure Agreement in exchange for paltry Patricia E McTaggart settlements amounting to pennies on the dollar. And much like rape victim witnessing their rapist walk free, Minority Females and Labor have been placed upon Altisource’s Do Not Use list maintained by Patricia E McTaggart.

Over the past decade many NAMFS Members have begun to rebel from the status quo demanded by the ALL WHITE Board of Directors at NAMFS under the Miller Regime. Kyle Nichols, a former NAMFS Government Relations Committee appointee, and his statements at the NAMFS 2017 Leadership Summit, is a classic case-in-point.

When a NAMFS Member brought the proof, which is displayed above, that a NAMFS Member is now maintaining a Do Not Use list which violates half a dozen federal laws and jeopardizes the legal status of NAMFS as a non profit business league, Miller appointed an ALL WHITE group, many whom had financial dealings with Altisource, to investigate. Their results were not unanticipated. In fact, during a conference call with the victim, one of the Great White Men stated,

I will have to reach out to the Client and go from there.

And so Eric Miller and his cronies did. It was a great circle jerk as they knifed their own Member in the back to protect Patricia E McTaggart. Talk about impartiality. The acronym NAMFS has now become the cultural shorthand for everything which is wrong with the Mortgage Field Services Industry. Eric Miller informed the victim that there would be no disciplinary actions taken. In fact, no actions were taken other than the fact that the victim, after telling Eric Miller whom had the list and whom was acting upon it, lost yet another nearly half a million dollar contract. I want to be explicitly clear here: Before Eric Miller was notified of the existence of the Do Not Use list maintained by Altisource and implemented by Laudan Properties and others, the victim was performing services for Laudan Properties totaling hundreds of thousands of dollars per year.

When Eric Miller lobbied for votes to be elected to the Executive Directorship of NAMFS, he brought over the LPS portfolio. In fact, many high level LPS officials became embedded in the Top Five NAMFS Leadership firms. Those votes were given based, in part, upon the access that Eric Miller had. And the kicker here is that there is NO ELECTION FOR THE EXECUTIVE DIRECTOR POSITION! Only the Board may vote the Executive Director off and only the Board may elect a new Executive Director.

Foreclosurepedia has spoken with former associates of John Ward whom went even further, though. In one case, a Ward associate hired a lawyer to dig into the Miller appointment matter and delve into the legal standing of NAMFS itself. The lawyer, from a pro union firm, described the entirety of the election of Miller and the price fixing by and through cost estimators, as “…about as close to racketeering as you can get,” according to one Source and former NAMFS Member.

And let us not forget the Russian elements which have been closely wooing the Mortgage Field Services Industry working with many of the NAMFS Member firms. Lee Mertins will gladly inform each and all.

To say that Happy Days Are Here Again for Whitey is the understatement of the decade. And as the Financial Vultures continue their misanthropic roll through 1600 Penn Avenue like a revolving door, the question being asked is why is the National Association of Mortgage Field Services (NAMFS) attempting to court the very same Minority Females and Labor they have so shamelessly defrauded in the past? Look, it is no secret that Eric Miller will go to bat for Whitey every chance he gets. Now, whether he does that because he hates Minority Females or simply to protect his $122,240 per year salary, I do not know. I do know that Miller’s salary consumes over seventy five percent of all NAMFS Member Dues. I do know that Miller and his ALL WHITE Board of Directors have refused to address Do Not Use lists maintained by Patricia E McTaggart at Altisource. And I do know that one day I am going to piss on the grave of John Ward who put this Shop of Horrors together along with pissing on that of Old Man Cossingham.

Financial Terrorism, in any form, cannot be tolerated. And to point out precisely how pathetic people like the slaves are at National Field Representatives (NFR), they shut down the company and forced their workers to wail in the streets like some Grecian Tragedy as Steve Cossingham’s body made a tour of the town. I mean this is the epitome of madness! This is identical to that which the Nazis required of the conquered when one of their own died.

The world will be a better place without Steve Cossingham. The world is a better place without John Ward whom founded NAMFS. And the reality is that the world will be safer when NAMFS no longer exists.

HUD’s Mortgagee Compliance Management (MCM) contractor can and does adjust payouts of current claims to recoup monies for HUD when pre-conveyance services were not performed.  However, this typically happens within the first month after title conveyance.  I’ve never seen any go back 2 years. — From HUD itself.

Eric Miller and his Regime did not gather round to wail as those Minority Females and Labor, whom have been defrauded, lost their homes and could not pay bills. I have no empathy, let alone sympathy, for those financial terrorists like the Cossinghams. Good riddance. Or, maybe Hank wants to grow a pair and return the money he and Steve sent to Wells Fargo collected illegally upon the backs of Labor as chargebacks? We confirmed with HUD that on the latest chargeback sent to us that HUD paid Wells Fargo for the work. So, while you pro Regime, Eric Miller handjobbing hacks want to be all aghast at my desire to piss on dead men’s graves — and it TRULY is on my bucket list — this is a wake up call for those of you whom have been raped.

I mean it is pathetic when you have limp wristed assholes like Matt Pratt of Laudan Properties reaching out to me wanting to “hook up” and catch up on old times. How about this, Matt? How about admitting using a Do Not Use list, supplied by Altisource? See, we have former Laudan Properties employees whom confirm the list exists. How about admitting ordering the termination of contracts and withholding monies owed to Presentable Properties based, in part, upon instructions from Altisource? How about you tell the world about employing a felon and embezzler, Malcolm Kidd, Shield Asset Services?! Nah, wouldn’t be conducive to the facade you have been running.

What is even more pathetic is Eric Miller believing that he is going to keep his NAMFS Offender Members out of jail. Beginning tomorrow, Foreclosurepedia is dedicating two new servers to begin streaming daily reports pertaining to Patricia E McTaggart of Altisource, Matt Pratt of Laudan Properties, Michael Dougherty and Reid Schermer of Birdsey Group, and of course, everyone’s favorite fascist, Eric Miller.

Series Navigation<< Wells Fargo Ensures Steady Inventory For IndustryNFL Collects Billions From Uncle Sam And Flips The Bird >>

You must be logged in to post a comment Login