CITIMORTGAGE SELLS TROUBLE

~What is the BIG cover-up about?  It’s amazing – no matter how many times you search
 Fannie Mae buying the servicing rights from Citimortgage
OR
Citi selling the servicing rights to Fannie Mae
 - you get- only a very limited amount of news – AND I mean limited- It seems to be a mistake that this news got out at all. 
It seems like these two giants– have tape across their mouths.
It’s not the fact that another big bank sold servicing – the details of why this information has been kept so quiet is in the court rooms across America.  Homeowner’s seeking to find out the truth of who actually holds and owns their note and mortgage.  SOME Judges siding with the big banks saying it doesn’t matter – just show me a little tiny bit of evidence that the foreclosing Plaintiff has had some interest or pretends- In Ohio, many cases have been ruled upon, saying -as long as the bank made up a mortgage assignment before they filed the complaint is good enough or made up an allonge from a dead company – that’s good for them. See the article “Ocwen Loan Servicing still signing for dead company New Century”.-A perfect example of the fraud and corruption put out by these companies.
BACK to Fannie Mae and Citimortgage News-
The news that did come out in 2014 states, “The sale includes the majority of overdue loans serviced by Citigroup for Fannie Mae…”  Source: Bloomberg.com
“Citigroup, Inc. (C), the third-largest U.S. lender, agreed to sell servicing rights to about 64,000 Fannie Mae residential first-mortgage loans as it seeks to reduce a portfolio of unwanted assets.  Source:  Bloomberg.com
The scant of news that is reported on this also makes it clear that Citigroup sold servicing to Fannie Mae on over $10 Billion Loans – $10.3 Billion in unpaid principal balances- “Fannie Mae acquired the rights and will transfer the servicing of the loans to another firm”.
“There is no official word yet on where the now Fannie Mae-owned MSRs are likely to end up.  Source:  HOUSINGWIRE
Two news articles and that’s it- as far as I have found.  While it’s not shocking-it is extremely important to homeowners – Each and every day, there is news that hits the world about the deceit, lies, and fraud by Citimortgage.  This isn’t gossip – It’s news as they say.  What is the best defense to a lie – the truth.  If someone accuses you of slander or libel – the best defense is the truth.
To make the grand point regarding why this subject has had such little news coverage, look at a perfect example in the following case which involves Citimortgage and Fannie Mae.  The attorneys for Citi have tried so hard to cover up Fannie Mae- Why?  In this case example,the attorney for Citi was the foreclosure mill law firm of Laurito & Laurito of Dayton Ohio with Colette Carr-they found out the case was causing them trouble-So, they brought in co-counsel Attorneys Jeffrey Hanneken and Jeffrey Hendricks from Graydon, Head & Ritchey LLP of Cincinnati Ohio.
Hang in there.  Citimortgage filed a complaint not listing all parties but they ignored that even after they cited case law to support that in their summary judgment.  The trial court Judge rubberstamps summary judgment in their favor – the case is in appeals. 
Citimortgage stated in their discovery answers – they had a blank endorsement.  They claim in their interrogatory answers that Fannie Mae and MERS are separtate entities and if you have questions – Ask them about it.  They go on, answer interrogatories and claim, “and at no time was the note or mortgage transferred to Fannie Mae”.  That’s blatant, correct -but, the case proceeds.  Fannie Mae sends letter to that specific address and claims, “we own”.  Fannie Mae look up tool clearly shows Fannie Mae owns the loan.  THIS KIND OF CORRUPTION, DECEPTION, TWISTING AND MANIPULATING FROM CITI is allegedly why this servicing news hardly made news, they didn’t want the public to have another bite of information regarding their dealings with Fannie Mae.
Citi goes on to state in their sworn answers, “Citimortgage states that it is the holder of the note and the mortgagee of record” – Well, so far, they have completely denied Fannie Mae when Fannie Mae says otherwise.  They slink out by saying mortgagee of record.  Key words mortgagee of record – these institutions have made such a deceptive path-they can’t even claim they are the mortgage holder – securitization- you already know that mess.  Passing the note and mortgage around cheating investors, lying to homeowners etc.  Fannie Mae claims on their site that they own this particular loan less than a month after Citi pretended to close on it.  After Citi files complaint and after Citi denies Fannie Mae and after Citi answers more interrogatories claiming these are separate entities – Fannie Mae still sends letter, we own your loan – So, where does this leave people.  You definitely have Citi employees and their attorneys lying and holding up those lies in sworn statements.  The trial court Judge- you have to wonder where his mind is- pissed off, allegedly paid off – What?  What is so blatant by these banks but yet, the Judge gives them a free pass.  Think about it.  Something drastically wrong when people can’t make it to trial and have any justice or due process but a summary judgment gets stamped for Citi.  Off to appeals. 
Recap the evidence – Citi says -we don’t know anything about any Fannie Mae and that is a separate entity anyway -so, go ask them.  Fannie Mae website showing they own and letters stating they own.  News comes out – Citimortgage is dumping servicing to Fannie Mae. 
They pass this stuff around like something at a frat party but with lies and contradictions.
Not all JUDGES are alike – Some stand up against these banks!  A judge in Ohio had made a statement regarding these messses stating – it didn’t make any sense why homeowners would not have a right to information and what happens to their loans.
In several other cases in Ohio – some Attorneys and Judges have fought extremely hard to say the homeowners have no right to the terms of the PSA.  The amazing and contradicting aspect of that mess -is – U.S. Bank, even made it public knowledge by printing it in a release -that homeowners were a party to the PSA.  But, are Courts paying attention yet or covering it up.
These case examples and there are plenty of others -  are not just about a neat little tidy package about defaulting homeowners- they are about homeowners showing the fraud, the illegal added-on fees, the attempts by homeowners for the bank correct the wrongdoing by these banks, the illegal paperwork created in an attempt to steal American’s property and their Constitutional rights!
AND, on top of all this by Citimortgage – they didn’t have a legally executed mortgage-So, what bogus servicing did they sell to Fannie besides the note.
The contributor is not an attorney and this article is not intended to give advice.