Tuesday, January 10, 2012

Bank Foreclosure Fraud - FRAUD Element # 12 of 20 - Misapplying Funds & Derelict Loan Administration

The last phase in the Worst Bank Foreclosure Fraud in U.S. History entailed TWENTY separate elements of FRAUD on mortgage loans that were:
  • ALWAYS paid before the monthly due date
  • NEVER delinquent
  • NEVER in default
  • And with regard to Mr. Young residence in Chapel Hill, NC, the subject mortgage loan was PAID-IN-FULL on the day he was violently evicted by a SWAT team of corrupt cops.

The 20 Elements of Fraud Were Perpetrated By . . .

. . . At the behest of . . .

. . . to cover-up the FRESCA crimes of MorganStanleyGate 

This entry covers . . .
 which involved . . .
Misapplying Funds in Derelict 
Administration of Loans

After absconding with all monies in Mr. Young’s deposit accounts Paragon Commercial Bank misapplied those funds to pay down the principal balance of the line of credit, instead of for debt service on ALL four loans, thereby fraudulently perpetuating their bogus delinquent status, according to Paragon. 

Bob Hatley of Paragon
This was an instance of: (1) Breach of Fiduciary Duty; (2) Negligent Loan Processing and Administration; and (3) Unscrupulous and Deceitful Banking Practice. Paragon Commercial Bank failed to apply available funds to maintain the current status of each loan, in contradiction of long-standing Auto-Pay agreements on ALL of the subject mortgage loans since inception dating back to December 2004.

Importantly, Congress did NOT bail out Banks so they could defraud and persecute the taxpayers who bailed them out. Moreover, the corruption observed in this matter alone, suggests a threat to the integrity of the U.S. Justice System may exist.

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