Oceanside, CA (PRWEB) October 20, 2008
Mortgage Fraud is at the root of the current financial crisis. Global Stage Systems has filed for patent protection on a system that will ultimately restore the confidence in mortgage backed securities to a viable business. These proprietary processes eliminate the major frauds seen in today's real estate market place. Some of the types of fraud include Straw buying, Identity Theft, Seller kickbacks, Multiple home purchases within a month, Over inflated pricing, False Appraisals, Predatory Lending, Disclosure Violations, Overstated or false income and assets. A major violation is borrowers being told one thing and yet the paperwork says otherwise especially about Adjustments, Interest rates and closing statements. Investigating and prosecuting these types of crimes are very time consuming, expensive and difficult since they are very complex. Currently there is no solution that prevents the crime from happening instead all solutions are geared towards after the fact which is not acceptable from an investment standpoint. The fact that banks are allowing borrowers to renegotiate the loans from investors through short sale or loan modification gives no point in the investment thereby the confidence is lost in the system and the investment prospect becomes pointless.
Global Stage Systems proposes change to policy and procedure on the way loans are approved and declined. Throwing money on a flawed system will ultimately serve to fuel the fire unless change in the system is introduced and implemented. Global Stage Systems has challenged the best in mortgage to see around our system with no success. The end result is a system that is both very profitable while creating a real estate market that is honest. The system allows investors to see the actual financial picture of a potential borrower and make a judgment upon real information. The system presents a way to make lending more available to everyone and to reset property values to a value that works within that economic area. The filed patent forces sellers, mortgage brokers, lenders and the borrower(s) to comply with the guidelines and rules of real estate. The proposed system rinses the Real Estate system from dishonest Real Estate Agents, Loan Officers, Mortgage Brokers, Account Executives, Bank Underwriters and more. Since the system serves to reveal true transparency, the guidelines set forth by lending institutions may change or certain risk may need to be disclosed. The borrower ultimately changes or omits certain information to meet these guidelines which is a crime for property. However in most cases the Mortgage Broker's Loan Officer understands these guidelines well and may change information to get the loan passed without the borrower ever knowing. Although the process may keep some people from buying the home of their dreams, it is more gauged towards the people who are in it for profit or crimes for profit schemes.
Global Stage Systems hopes to pilot the program as early as 1st quarter of 2009. Participants may include the Department of Real Estate, FBI, Local and State Officials and other Government Agencies. One of the biggest questions will be whether this program will be run by the Private Sector or Government. Global Stage Systems believes that a rethinking of the bailout plan is necessary when factoring our patented process into the financial system.
Global Stage Systems develops advanced processes and technologies that address real-world issues facing the world today.
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