Michael R McCormick

July 1st, 2008

FBI
935 Pennsylvania Avenue, NW
Washington, DC 20535
Attn: Robert S Mueller, Director

via snail mail
to: distribution list /with attachments

Dear Bob Mueller

Please treat this as a formal complaint with regard to mortgage fraud - against Demetrius Gianopoulos, Michael R McCormick, Andy Mitchell, Angelo Mozilo, and Pete Capra. In addition, please treat this as a complaint against the CEO and each of the following business entities: New Century Mortgage (now kaput), WMC Mortgage and the parent General Electric, South Star Funding (now kaput), Countrywide, Golden Design Group, and First Guaranty Financial Corp.

By copy of this letter to Mary Mullarkey, please treat this as a complaint against the attorney license of Michael R McCormick.

By copy of this letter to D. Rico Munn and Erin Toll, please treat this as a complaint against the real estate license of Andy Mitchell and the inactive real estate license of Demetrius Gianopoulos (FA100004301).

By copy of this letter to various federal, state, and local agencies, please treat this as a complaint against each of the individuals and business entities named below.

Ruby Begonia

Question for Ken Salazar and John Suthers: Do the name Michael R McCormick mean anything to you? He claims to have worked at the Colorado Attorney General's Office for 3.5 years.

A Google search suggests that Michael R McCormick is an attorney at Montgomery Little Soran etc. His cv page says: Michael R. McCormick entered private practice after spending three and a half years as an Assistant Attorney General in the Colorado Attorney General’s Office representing the Colorado Department of Transportation.

The name Michael McCormick shows up as the current owner on 7 Arapahoe county properties in some stage of foreclosure.

1104 S Richfield Ct

21582 Portland Pl

242374 E Glasgow Cir

16731 E Lake Ave

14120 Temple Dr Y-1

6019 S Olathe St

22382 E Mercer Pl (Countrywide)

The name Jenell B McCormick also shows up on several foreclosure properties. I don't know if Jenell is related to Michael. My best guess is they are not related.

Michael McCormick is somehow involved with Equity Architects, LLC , an outfit located in California. Equity Architects is headed up by M. Cassandra Hoag, who is also a director at Sunwest Bank.

The Greek

Demetrius G Gianopoulos. Is that a good name? It's Greek to me.

21582 Portland: Approximately November 22, 2004, Demetrius purchased the house at 21582 E Portland Pl, Aurora, CO 80016. The sale was not reported in MLS. The Arapahoe county deeds report shows the sold price at $699,000 with a mortgage loan of $699,000 provided by the Bozos at (now kaput) New Century Mortgage. Six months later in May 2005 the house was back on the market asking $791,000. A month later in June, 2005 the asking price was increased to $899,000. MLS shows the property "under contract" in June of 2005 but there is no sale reported. About this time the property went into foreclosure. Two years later on 9/27/07 via quit claim, Michael R McCormick was listed as the owner. In December of 2007 (3 months after Michael McCormick was the owner) the property was listed for sale asking $575,000. This property sold 6/18/08 for $446,250. That's $252,000 short of the loan amount - in 3.5 years.

Does anyone see a problem here?

Imagination at Work

6019 Olathe: Three weeks later - on December 22, 2004 Demetrius bought himself another house. 6019 S Olathe St, Centennial, CO 80016. Sold price = $896,000 with a mortgage loan to match - provided by WMC Mortgage (a/k/a GE). The sale was not reported in MLS. This property went into foreclosure. Equity Architects recorded a $60,500 loan on October 29th, 2007. I suspect this house was barely lived in. This property recently (5/28/08) sold for $570,000 which is $326,000 less than the loan amount. Imagine that.

16731 Lake: Three weeks later on January 11th, 2005, Demetrius bought himself another house. Just around the corner at 16731 E Lake St, Aurora, CO 80016. Sold price = $865,000 with a mortgage loan to match provided by the rascals at Southstar Funding (now kaput). Presumably this was a builder sale - it was not listed or reported in MLS. Demetrius bought the house from Pete Capra a/k/a Golden Design Group for the sole purpose of walking away with the excess mortgage funds - cash back at closing - a/k/a mortgage fraud. I estimate the mortgage fraud at $150,000 for this one transaction. Much the same as Young Kim just around the corner at 6062 Kalispell. Yep - this property went into foreclosure. Somehow Countrywide is mixed up in this mess. Equity Architects recorded a $60,500 loan on October 29th, 2007. This property is currently for sale asking $589,900. That's $275,000 less than the mortgage, and it ain't over yet.

In a span of about 6 weeks, Demetrius was able to borrow $2.46M - presumably on the strength of his good name. Is that a good name? Or not?

You might be thinking Demetrius put up $zero of his own money - but that's not what I'm thinking. I think Demetrius (or someone) walked away from these 3 transactions with the better part of $500,000 cash. Not bad for 6 weeks work.

But wait. It gets better.

23957 Hinsdale: Three weeks later - January 31, 2005, Demetrius bought a 4th property. 23957 Hinsdale Pl, Aurora, CO 80016. Sold price = $780,000 with a $741,000 loan provided by the good people at First Guaranty Financial Corp. Demetrius bought the house from Pete Capra a/k/a Golden Design Group for the sole purpose of walking away with the excess mortgage funds - cash back at closing - a/k/a mortgage fraud. I estimate the mortgage fraud at $205,000 for this one transaction. The sale was not reported in MLS. This property went into foreclosure. In October of 2007 it was on the market with an asking price of $800,000. It's still on the market - the asking price has been reduced to $519,000 and still no takers. That's $261,000 less than the mortgage loan, and it ain't over yet. Somebody is getting screwed on this one.

5745 Amber Ridge: About 7 months later - August 29th, 2005. Demetrius bought his 5th property. 5745 Amber Ridge Pl, Castle Rock, CO 80108. Sold price is $1.5M. The Bozos at Countrywide made a mortgage loan of $1,350,000 (maybe more) to Demetrius Gianopoulos on August 29th, 2005. This property had been on the market 263 days with an asking price of $1,249,000. Any idiot could see this property was not worth $1.35M. Andy Mitchell was the real estate agent for both sides of this transaction. Andy raised the price $251,000 and reported a seller concession of $362,000 in MLS. The concession type is listed as "cash" - as in $362,000 cash back at closing. Think about that for a minute.

And just when you think it can't get any more ridiculous - it does.

Visions of Sugar Plums

One week later this property went back on the market with an asking price of $1.6M. By November of 2006 (447 days later) the asking price had been increased to $1.85M. Then the property went into foreclosure and the Cracker Jack REO team at Countrywide went into action. They listed the property December 13th, 2007 with a significant price reduction - the asking price started at $1.263M. This same property is still on the market - the asking price is now $949,000. Somebody is getting screwed on this one.

Fruit Cake

24237 Glasgow Cir, Aurora, CO 80016. It's hard to tell exactly what happened - but Demetrius Gianopoulos, Michael R McCormick, Lehman Bros, and Fifth Third are knee deep and it smells bad. I see a $725,000 loan approximately April 2004. Then the property was on the market in November of 2007 asking $540,000. No sale is recorded in MLS, but somehow a $636,000 mortgage is recorded a month later on December 12th, 2007 with the sale price listed as $795,000. The names Lehman Brothers structured asset investment loan trust, Fifth Third Mortgage Co, Gloria Kindelson, Justin Foos, Patrick Shanley, and Demetrius Gianopoulos all show up on the paperwork. Arapahoe county shows the current owner is Michael R. McCormick. I've formed an opinion that some of these people told lies for the purpose of getting their hands on some cash. Yep - this property is in foreclosure.

So Now What?

Ken Salazar is pushing a bill that would have the Federal Government pay $8,000 to a home buyer. The idea being it's easier to sell houses if "we" could just pay people to buy a house. If enough people start buying houses the real estate market will recover and then we can get back to normal. Of course "we" would not give any money to speculators. Speculators are the bad people who are making gas prices go up. Only genuine real people will be eligible for the $8,000 government incentive program.

Hello? $8,000 cash back from the government is not the solution. Paying people to buy houses is what got us into this mess. "Cash back at closing" is the problem, it's not the solution.

I have been speaking out publicly since September of 2005. I sent a letter to Governor Ritter 1/26/07 with extensive details about Justin Juarez and his involvement with several big ticket mortgage fraud transactions. Justin still has his real estate license. If anyone did anything about Justin and the mortgage fraud it's a well kept secret.

How bad does it have to get?

Sincerely,

Philip G Rice
11268 E Linvale Dr
Aurora, CO 80014
720-282-3376
phil.rice@mkgappraisal.com

ps - To all who have read this far, please take a minute and think creatively about something you can do. Make a positive difference. If you need help, call me at 720-282-3376 or send an email.

-- End of Letter --

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