phil.rice

A tip of the cap to Pam Crowley in Florida.

A new item added to my blog roll is the Mortgage Fraud Watch List.  This new Web site has a lot of potential to make a positive difference.

6062 S Kalispell St, Aurora, CO  80016

• Buyer/Borrower = Young Kim
• Seller = Builder = Golden Design Group
• Amount Paid to Seller = $unknown
• Loan Amount = $986,415
• Lender = America’s Wholesale Lender – subsidiary of Countrywide CFC
• Kim Purchase June 2006 – No MLS activity
• Deeds Report
• Mortgage Fraud = $unknown, maybe none

Comments:  I wrote about this property in August, 2006.  This is a builder sale – with the possibility of hocus pocus seller concessions.  I visited this property on 11/21/06 – as best I can tell from the street, the property is now 100% empty – i.e., vacant.  This is not a good sign for the mortgage.

Young Kim is a very common name.  I could be a coincidence that this name pops up on the membership list of AREAA – Young Kim, Loan Consultant, Countrywide Home Loans, Santa Monica, CA.

The handy 1 page summary shows Young Kim bought 10 houses in 7 months.  This is item 10 of 10.  It’s the same pattern as Shawn Tieskotter, Vicki Dillard Crowe, Secresha Cooper, and Dawn L Molen.

tags

Empty

mortgage fraud real+estate Young+Kim Americas+Wholesale+Lender Countrywide

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Ralph Roberts has an interesting post about the importance of the title company.  The post is made by:

Baltimore, Maryland’s, Ed Rybczynski was a licensed title agent and the owner of a successful title company. Nowadays, during his presentations, Ed speaks candidly about his role in a well publicized flipping scheme that resulted in his imprisonment in a federal prison camp.

It’s a long comment, but well written.  I encourage you to take the time and read it.

tags

Rybczynski

mortgage fraud real+estate Ralph+Roberts Rybczynski prison

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More Moody (s) plural:

Julia C and Steven T Moody bought a house a 5354 Dunraven Cir, Golden, CO  80403 on 08/14/06.  The MLS listing history indicates a market value of about $540,000 – and even this is suspect.  The sold price on 08/14/06 is reported as $600,000 with a loan amount of $480,000 which is 80%.  The lender is National City Mortgage.  The seller is Sean M Bazewicz, a real estate investor and VP (mortgage broker) at Forefront Mortgage and also involved with Creative Property Management.  Real estate agents Lori Salee Spencer and Scott Sabina were involved in this transaction.  There is nothing that conclusively says fraud, but this has a peculiar aroma.

Regina T Moody bought 3 houses (so far) in 2006.

1. 3268 Arroyo Verde Way, Castle Rock, CO  80108 for $331,723 in early April, 2006.
2. 640 W 79th Pl, Denver, CO  80221 for $230,000 in early July, 2006
3. 12662 Locust Way, Thornton, CO  80602 for $330,700 in March, 2006.

Items #1 and #3 are builder sales.  Homecomings Financial Network provided the mortgage for item #2.

tags

Moody Blues

mortgage fraud real+estate Lorenzo+Moody Julia+C+Moody Steven+T+Moody Bazewicz Forefront+Mortgage National+City+Mortgage Creative+Property+Management

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144 S Emerson St, Denver, CO  80209

• Buyer/Borrower = Lorenzo Moody
• Seller = Charles Denver Parks – also the listing agent
• Amount Paid to Seller = $379,000
• Loan Amount = $599,000
• Lender = New Century Mortgage
• MLS pg1 – Purchase Date = 07/28/06 or 08/04/06
• MLS pg2 – listing history
• Deeds Report
• Indicated Fraud = $220,000
• Listing Agent = Charles Parks, Help-U-Sell LoDo a/k/a Aspen Lending
• Selling Office = Charles Parks, Help-U-Sell LoDo

Comments:  Famous people named “Denver” include John Denver the singer, and Bob Denver, the actor who played the title role in Gilligan’s Island (also Maynard G. Krebbs on Doby Gillis).  A Google search on “Lorenzo Moody” (the buyer/borrower) returns an entry from the Urban Dictionary:

A really weird person, geeky, stupid and likes erin lostracco

I am not making this up – try it yourself.

This property was owned by the real estate agent – Charles Denver Parks of Help-U-Sell LoDo.  He collected a commission from both sides of this transaction, 5.6% in total.  He raised the price by $220,000 and reported a $10,000 seller concession.  The sole purpose of the price hocus pocus is to justify a $599,000 loan.

tags

A Boy Named Denver

mortgage fraud real+estate Lorenzo+Moody Charles+Parks Charles+Denver+Parks New+Century+Mortgage Aspen+Lending

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5741 S Nucla Ct, Centennial, CO  80015

• Buyer/Borrower = Lorenzo Moody
• Seller = Secresha Cooper
• Amount Paid to Seller = $360,000
• Loan Amount = $445,000
• Lender = Washington Mutual
• MLS pg1 – Purchase Date = July, 2006
• MLS pg2 – listing history
• Deeds Report
• Indicated Fraud = $95,000
• Listing Agent = FSBO

Comments:  A Google search on “Lorenzo Moody” (the buyer/borrower) returns an entry from the Urban Dictionary:

A really weird person, geeky, stupid and likes erin lostracco

I am not making this up – try it yourself.

I wrote about this property in March of 2006, and again in July of 2006.  I am doing my best to call attention to the problem – and despite my best efforts the problem just gets worse.  This property was in foreclosure in 2002, and then again in early 2006, and IMHO, will be in foreclosure again soon.

Secresha Cooper bought this property for $350,000 in April, 2006.  It was an REO property that had been on the market 268 days.  Secresha Cooper then sold the property 3 months later in July, 2006, for $445,000 without the benefit of an MLS listing.  Secresha Cooper sold the property to Lorenzo Moody.

Secresha Cooper recently bought 4 properties  – details of the other 3 are here, here, and here, or check out the handy one page summary.  All 4 of these purchases involved unusual (if you get my drift) circumstances.  Lorenzo Moody bought 2 houses in July, 2006 – details of the other transaction here.  The other purchase by Lorenzo Moody involved very unusual (if you get my drift) circumstances.

tags

House of Fraud

mortgage fraud real+estate Lorenzo+Moody Secresha+Cooper Washington+Mutual

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