Fremont Investment & Loan
Fremont Reorganizing Corp.
Goldman Sachs
Litton Loan Servicing
MERS
Ocwen Loan Servicing
Signature Group Holdings
Action Date: June 10, 2011
Location: West Palm Beach, FL
WHY IS FREMONT INVESTMENT & LOAN COMPANY STILL CONDUCTING BUSINESS IN FLORIDA?
In 2007, Fremont General Corporation was one of the largest lenders and servicers of subprime mortgages.
On June 18, 2008, Fremont filed for Chapter 11 bankruptcy protection. Signature Group Holdings, a private investment firm, reorganized and renamed the company, changing its name on July 30, 2008, to Fremont Reorganizing Corporation.
On July 9, 2010, Signature Group Holdings, Inc. as successor in interest to Fremont Reorganizing Corporation filed a Withdrawal of Authority to Transact Business or Conduct Affairs in Florida, stating: “This corporation is no longer transacting business or conducting affairs within the State of Florida.”
Yet, through the cloak of MERS, Fremont Investment & Loan Company continues to do business in Florida. Thousands of mortgage assignments were filed in Florida counties after the Fremont name change and after the Fremont Reorganizing Corporation “withdrew” from Florida.
Very often, these assignments were signed by employees of Ocwen Loan Servicing. Employees of Litton Loan Services also signed many assignments in the last half of 2010 and the first half of 2011 as “Vice President, Mortgage Electronic Registration Systems, as Nominee for Fremont Investment & Loan.” Litton assignments made in 2010 and 2011 were used especially by GSAMP Trusts and by Fremont Home Loan Trusts that closed in 2006 and 2007.
These two mortgage servicers allowed Fremont Investment & Loan to continue to assign mortgages for use in foreclosures long after Fremont ceased to exist. Goldman Sachs announced on June 5, 2011, that it agreed to sell Litton to Ocwen Financial Corporation.
Fremont Reorganizing Corp.
Goldman Sachs
Litton Loan Servicing
MERS
Ocwen Loan Servicing
Signature Group Holdings
Action Date: June 10, 2011
Location: West Palm Beach, FL
WHY IS FREMONT INVESTMENT & LOAN COMPANY STILL CONDUCTING BUSINESS IN FLORIDA?
In 2007, Fremont General Corporation was one of the largest lenders and servicers of subprime mortgages.
On June 18, 2008, Fremont filed for Chapter 11 bankruptcy protection. Signature Group Holdings, a private investment firm, reorganized and renamed the company, changing its name on July 30, 2008, to Fremont Reorganizing Corporation.
On July 9, 2010, Signature Group Holdings, Inc. as successor in interest to Fremont Reorganizing Corporation filed a Withdrawal of Authority to Transact Business or Conduct Affairs in Florida, stating: “This corporation is no longer transacting business or conducting affairs within the State of Florida.”
Yet, through the cloak of MERS, Fremont Investment & Loan Company continues to do business in Florida. Thousands of mortgage assignments were filed in Florida counties after the Fremont name change and after the Fremont Reorganizing Corporation “withdrew” from Florida.
Very often, these assignments were signed by employees of Ocwen Loan Servicing. Employees of Litton Loan Services also signed many assignments in the last half of 2010 and the first half of 2011 as “Vice President, Mortgage Electronic Registration Systems, as Nominee for Fremont Investment & Loan.” Litton assignments made in 2010 and 2011 were used especially by GSAMP Trusts and by Fremont Home Loan Trusts that closed in 2006 and 2007.
These two mortgage servicers allowed Fremont Investment & Loan to continue to assign mortgages for use in foreclosures long after Fremont ceased to exist. Goldman Sachs announced on June 5, 2011, that it agreed to sell Litton to Ocwen Financial Corporation.
Source: Fraud Digest
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