Our day has come, our day has come

[moh malekpour]

The FBI believes 80 percent of fraud is for profit. And about 20 percent of the fraud is for housing — solely by the borrower using fraudulent documents. The for-profit fraud could be industry insiders such as brokers who skim equity, appraisers who inflate the value of property or underwriters/originaters who make fraudulent loans.
They are after those 80% fraud for profit, the industry insiders
The 20% fraud for housing are already being punished by destroying their own credit thrown out of their homes because they lied about their income and were not able to pay their mortgage.

 

[Dale Smalley]

Here is Florida's appraiser contribution.
Finally an investigation that mentions inflated value. Instead of the regular missed a carport or gutter stuff that we normally get.

http://www.usdoj.gov/usao/fls/PressReleases/Attachments/080619-02.InfUSvAcosta.pdf

 

[Restrain]

Appx 2 weeks ago an appraiser in Ft. Worth was conviced of fraud in conjunction with 226 fraudulent loans. Others were convicted or are facing trial as well. He had the audacity to say he was going to have to look for a new job. I think he's got one...making license plates.

 

[Metamorphic]

JW,

If I were you, I'd make an appointment early next week with an attorney and explain to them as what you feel your exposure is and what would like to pursue in terms of seeing justice done. You might want to spend some time and set aside any files you have with these people's name in them and start trying to reconstruct the time line of the relationship you have with them. The more effort you put in the less the attorney will have to spend (at their much higher hourly rate).

An attorney will be able to approach DOJ without bringing undue attention to you before you have some sort of immunity agreement on the table. ("I have a client that has specific information about your case, she was "fired" by the defendants for not playing along with their scheme, but she did have some dealings with them before she realized what was going on. She'd like to do the right thing and help you with your case, but she doesn't want to expose herself legally for any inadvertent or unwitting part she may have played in their scheme." )

I dont know what kind of attorney contacts you have but you'll probably want someone who's done at least a little criminal defense work to represent you on this account. This might be out of the competency of a regular business law type lawyer. I'm not from your part of the state, but I know some Crim Def people locally that might know somebody in your area. If you dont have any resources locally to find somebody good, PM me and I'll see what I can scare up. Unfortunately you might be out of pocket at least a little to do the right thing in this case. But the expense of coming forward as a voluntary now might be a lot less than the cost to defend yourself later if DOJ's investigation leeds them to your door.

 

[JENIFFERW]

...hard to absolutely predict the future, but I know that the path will have the same distance and stones whether they find you or you go to them....the difference will be that is you go in innocence to them first, they will assist with a fine, comfortable pair of shoes and make sure you are fed and watered and rested right during your travel...best to you.................rs

Fine? I don't get it. For what?

 

[JENIFFERW]

JW,

If I were you, I'd make an appointment early next week with an attorney and explain to them as what you feel your exposure is and what would like to pursue in terms of seeing justice done. You might want to spend some time and set aside any files you have with these people's name in them and start trying to reconstruct the time line of the relationship you have with them. The more effort you put in the less the attorney will have to spend (at their much higher hourly rate).

An attorney will be able to approach DOJ without bringing undue attention to you before you have some sort of immunity agreement on the table. ("I have a client that has specific information about your case, she was "fired" by the defendants for not playing along with their scheme, but she did have some dealings with them before she realized what was going on. She'd like to do the right thing and help you with your case, but she doesn't want to expose herself legally for any inadvertent or unwitting part she may have played in their scheme." )

I dont know what kind of attorney contacts you have but you'll probably want someone who's done at least a little criminal defense work to represent you on this account. This might be out of the competency of a regular business law type lawyer. I'm not from your part of the state, but I know some Crim Def people locally that might know somebody in your area. If you dont have any resources locally to find somebody good, PM me and I'll see what I can scare up. Unfortunately you might be out of pocket at least a little to do the right thing in this case. But the expense of coming forward as a voluntary now might be a lot less than the cost to defend yourself later if DOJ's investigation leeds them to your door.

Criminal defense lawyer? I didn't commit any crime. I said no to the crime, and what I am actually considering is telling on the criminal. Oh greatm2:

 

[PropertyEconomics]

Two quick points if I may ....

1) ... I am shocked at the age of most of those charged. We have developed a generation of people that would rather obtain gains in an illegal manner than in working hard for their money. I have typically found those that think im "old fashioned" and not "thinking outside the box" are younger than I am and simply not understanding of the ways of the world.
I find this to have been prevalent not only in mortgage brokers and loan officers but also in appraisers.
I, by the way, am 47 and am thankful my father taught me right from wrong, good from bad, and honesty always pays in the long run.

2) ... I am constantly amazed at the number of people on this forum (ok I admit its not many but its far TOO many if that makes sense) that simply dont read an entire post and understand what it is saying.

Jennifer I personally commend you for firing this client. It is truly the best money you never made.

Cheers and Heres To You !!

 

[Metamorphic]

Criminal defense lawyer? I didn't commit any crime. I said no to the crime, and what I am actually considering is telling on the criminal. Oh greatm2:

I'm sorry if you thought I implied you were a criminal. My only point was that criminal defense lawyers are experienced at dealing with DOJ, most other legal disciplines don't have much if any experience with the guns and handcuffs law enforcement types. They understand how to limit your legal exposure while doing the right thing, they know how to present you to DOJ in a way that will put you in the best light.

It may very well be that you buy a couple hours of the lawyers time and they say "here's what you do....." But I'd hate for you to walk into the DOJ, blurt out "I used to work with those guys you just arrested..." and end up getting put in the suspect category before you even have a chance to tell them you're not.

 

[JENIFFERW]

I wonder if Metamorphic has a point though? I would hate that, but maybe he's right. Maybe I need to lawyer up just to be on the safe side. I sure wish things weren't that way, but who knows. I was kinda thinking I should just wait and see if they ever get around to calling me. I'm sure they have plenty of follow-up to do with people that were directly involved in what they have been charged with. Why get myself in the middle of this mess? Then I remembered what I saw posted on here, by Karl I think, about it's better to call them and tell on yourself (which I wouldn't be telling on myself, but it would be voluntary cooperation to show them, look I didn't have anything to do with this) than to have them call you.

I am aware of a particular VERY fraudulent deal she was involved it, because she had no problem with bragging about what she was doing as if it were O.K. I think she was actually proud of how much she could screw people over. I really couldn't believe the audacity. There were some others conspiring with her, but I stayed out of it and told her it was wrong. Anyway though, maybe I should get a lawyer, just in case I have somehow been dragged into some deal that she was committing fraud on. What if she altered my appraisals for instance?

 

[JENIFFERW]

Metamorphic - do you have a legal background?