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Nationwide Title Clearing: Custom-made Assignments so you can illegally Foreclose!

Livinglies's Weblog

by KK MacKinstry

Investigator Bill Paatalo discovered a disturbing article written by Michael O’Connell, the COO for Nationwide Title Clearing, a company that creates tens of thousands of assignments as a third-party contractor.  O’Connell erroneously claims in his article that, “assignments simply reflect the transfer of servicing rights from one servicer to another.”   O’Connell is incorrect.  Mortgage assignment reflects a change in creditor ownership, while the sale of servicing rights from servicer to servicer are entirely different matters.  This is where the courts and people become confused believing that the servicer is the creditor and that the two are one in the same and the terms can be used interchangeably.

Michael O’Connell is spreading this type of disinformation to his clientele, and is basically encouraging clients of Nationwide Title Clearing to commit fraud by fabricating documents to “fill in the blanks” and “perfect” defective Chain of Titles.  Nationwide Title Clearing…

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