Monday, May 20, 2013

Orion Financial Group - what a joke

I found this article on National Mortgage news With more activity and more investor interest in the nonperforming loan market recently, it’s a good idea to know what steps should be taken to protect your interests when buying or selling these assets. In the last few months, both Citigroup and Wells Fargo have brought sizeable packages of troubled mortgages to the market, according to reports in American Banker. More private investors in the market are starting to emerge as well. So it seems like a good time to go over what documentation is necessary, whether you’re buying or selling in the nonperforming loan market. Proper documentation is more important than ever when dealing with nonperforming residential mortgages—it determines your risk level for recouping your investment and protecting it through legal channels. What should be done to ensure a line of defense is in place? No. 1, due diligence is imperative. The collateral files impact the pricing, so you cannot bypass performing due diligence. It is also critical that files are reviewed to verify whether the chain of title is unbroken, and to determine whether there are any current liens on a property. A current owner search can accomplish this, and will identify any open liens that could affect your position, such as delinquent property taxes, code violations and municipal liens. A current owner search will also identify the assignment chain, and ensure that all assignments have been properly filed and recorded with the county. Next, it’s a very good idea to verify that the note endorsement or allonge chain, or chain of attachments, match the assignment chain. Though this verification isn’t currently required in all jurisdictions, being proactive in this regard can prevent delays in the future. If the chains are broken, then having a process in place to repair them in a timely manner is a necessity. When this process can’t be handled in-house, it should be outsourced to a professional firm with the industry experience and knowledge to ensure smooth execution. ( Meaning his ??) Why is all of this so important? Improper or mishandled documentation can lead to delays in selling loan pools and executing foreclosures. Investing a little extra money now is well worth it when you consider the amounts you could face in the cost of litigation, or in the potential loss of interest in the asset. Ensuring all the documentation is in order doesn’t cost a fortune, and just makes good business sense. Mike Wileman is president and CEO of Orion Financial Group. My response Well, well, well.. Great advice. Lets see, you signed a forged document stating it was from Chase, signing it for DB Structured Products to be returned to you for ARCHBAY .., Not one, but 3 robo signers were attached! Funny thing was CHASE never signed or authorized it. Than paperwork from WAMU that has been missing close to eight years suddenly shows up. By the way, I never signed a document in black ink , it was blue. While your also giving this great advice on due diligence, why didn't you contact the town office? Instead you took it off a LPS robo signed document from Deutsche Bank, to sign over to Archbay. You would of also known, should you of done due diligence, that the house had liens 3 to be exact, that were for 4x times the amount of the houses worth, one being Federal. You would of also known the title was already in question from 2009 on. ( You signed this in 2011) I have reported you to the CFPB, to be investigated as well as the FDIC. You helping these companies to steal homes to put money in your own pocket, is shameful. Now people check your documents and the ones banks are using for this company Orion Financial Group, up in the left corner it will say to return to them and a these names ( Its a family affair lol) ( look at assignments and if your note suddenly appaeared ask to see the envelope it came in as well as the original documents, sent in digital format, than open them , you will know if its real or not. Mike Wileman President & CEO (817) 424-1038 Kelli Airis Vice President-Operations (817) 424-1082 Deanne Wileman SVP/Director of Human Resources (817) 424-1042 Connie Riggsby Manager, Client Services Division (817) 424-1040 Contact the CFPB and file a report Than contact the FDIC and also file a report Time to take the problems out of the Mortgage business . Here is an article on what to look for

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