TWO (2) years old law has been ignored by most banks. THE HOME ACT of 2009 !

My favorite people my so called fake lenders or fake owners of the deed and note. Well, they violated the Revised HOME ACT that Pres. Obama signed in 2009 SEVERAL TIMES. This is just 2 years old revised law. Lenders should notify the homeowner when they transfer, convey, assign or sell the loan. They have 15 days to do this. These fraudsters just  continued to ignore the law. They transfer, assigned and sold my loan without notifying me, to them I do not exist. We have so much laws written and to the fraudster they are just there to be read but not to be applied. If these laws are applied properly and not being broken under our nose,  America will not be in this bad situation . It is time for the laws to shine and these fraudsters be given a lesson.

Lesson for today:  Homes Act of 2009
Previously, loan servicers were required to provide notice only when the servicing rights on a loan was transfered.  But servicing rights are different from ownership.   The companies that most Americans send their mortgage payments to are mortgage servicing companies and, in most instances, are not the companies that actually own the loan. The servicing companies are hired to service the mortgage on behalf of the true mortgage holder.  The holder of the loans are often investment companies and trusts.  Prior the new law, it was difficult for borrowers to find out who owned their mortgage.  In fact, in many cases, servicing companies will refuse to provide this information.
As part of the Helping Families Save Their Homes Act of 2009 Congress amended Section 131 of the Truth in Lending Act (15 USC § 1641)(“TILA”) to include a new provision (Section 131(g)) that requires the assignee of a mortgage loan to notify a consumer borrower that his loan has been transferred. This notice requirement became effective immediately upon the President’s signature on May 19, 2009.  The notice must include the name, address and phone number of the new owner, the date of the transfer and other contact information.
While these requirements might seem to require only basic information which should be readily available to a mortgage company, this information is routinely kept from the borrower.  This is the case even with the servicers themselves take assignment of loans, which often happens prior to a foreclosure.  In such cases, an assignment is given to the servicer of the mortgage and note several weeks prior to a foreclosure so that the servicer can  foreclose in its own name.  The suits recently filed by the firm address the systematic failure to provide these required notices after such assignment occur.   The suits seek statutory damages provided under TILA which can be as much as $4,000 per violation.
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