What to do when you KNOW something is wrong

[Pamela Crowley (Florida)]

Send the property address to me!!!!!!
pec514 @ yahoo.com (remove the spaces)

I have a list that includes national lenders QC dept people and other regulators and QC companies. The addresses you send to me will go into a data base of addresses that need a full review of the file prior to the loan being closed, or if already closed, the file will be audited and if fraud is found, buy-backs and charges will be filed.

WE DO HAVE THE POWER TO HELP OURSELVES IF YOU ALL WILL JUST SEND ME THE ADDRESSES!!!!!

It would help to have a brief explanation of what you know about the deal.

 

[Otis Key]

Thanks Pam - to bump this back to the top.

 

[Annemieke Roell]

Can we make this a sticky?

 

[Chris Colston]

What Pam didn't say...this includes assignments YOU (who ever is reading this) turned down because you felt something was amiss or "fishy" with the assignment.

 

[Wendy]

What about comp checks we refuse to give? I'm talking about the ones that you know are way outta whack with just a glance? Afterall, we all know it will just get shopped until some skippy hits the value.....

 

[Tony V]

Pam...this is treeeeeeemendous..

I sent you 2 including a pdf of one....

Thanks......

 

[JSmith43]

What about comp checks we refuse to give? I'm talking about the ones that you know are way outta whack with just a glance? Afterall, we all know it will just get shopped until some skippy hits the value.....

I think there was a movie about arresting the criminals before the crime actually happened. Something about predicting the future.

Accomplished facts will bury the system. My suggestion is that it is better in the overall scheme of things to go for the low hanging fruit.

Additionally, I have misgivings about a so called system that tries to turn us into anything that remotely resembles brown shirted spies.

Point to the obvious, yes, but let the professionals sort it out, IMO.

 

[Pamela Crowley (Florida)]

Comp check requests where the value wanted in way out of line is a very good address to send!!!!!

These addresses will have the loan application files and appraisals double and/or triple checked by the funding lenders and others that might be lined up to purchase the loan after closing. They would like to catch these prior to closing them, but are just as happy to find one that needs to be audited after closing.

If you send me an address where it's from an inflated comp check request, please let me know. A brief explanation of what kicked up the red flag to you would be nice, but is not necessary. Your name will not be included in what I send to my list.

I met some at the HUD mortgage fraud conference that have been getting my lists of address and they are thrilled to be able to catch these. I met more that want to be added to my list. The response is positive because I'm now reaching those that want this stopped as much as we do and are in positions to do something about it.

 

[Mike Simpson]

"Additionally, I have misgivings about a so called system that tries to turn us into anything that remotely resembles brown shirted spies."

I'm with Roger on this!!!

I think you owe everyone an explanation. Do you hold some type of position that all Forumites aren't aware of? Or have you promoted yourself keeper of the flame?

I'd like a serious answer to my question, but know based on our past history I'm unlikely to get it. I'm more likely to get locked out of the thread for even daring to ask, or banished to cyber gulog.

I'd REALLY like the opportunity to openly discuss what transpired between us regarding "Broker's & Investor's conspiring to commit fraud", but know there's a slim chance in Hades of that will ever happen either.

-Mike

 

[Hal Mann]

Pam, I want to congratulate you for dreaming up a simple way to help stop these fraudulent loans before they're made. If done right, it ought to put a damper on skippy's popularity and his broker buddies' activities, too.

Additionally, I have misgivings about a so called system that tries to turn us into anything that remotely resembles brown shirted spies.
Point to the obvious, yes, but let the professionals sort it out, IMO.

I see no brown-shirted spies here. In fact, pointing to the obvious is exactly what she appears to be doing. It's just that it's more obvious to us and Pam appears to have found a way to point it out to those most at risk (the lenders).