to CFPB_FOIA, CFPB_FOIA, Jacqueline, Kim, Esq., Gerry, FOIA
Dear Sheila Peden,
Cugno and the others all acted together. The information is for the ENTIRE Group of SCAMMERS. The Baiting of Consumers done with ZERO DOWN 125% Subprime Predatory EASY CREDIT Racketeering. The REALITY of BILLIONS in Fines against Deutsche Bank and JP Morgan is very simple …. From A to Z the WHOLE GANG premeditated all the Deception and Lies. YES I insist the information be released on the WHOLE GANG / MAFIA involving these PERPETRATORS.
So many many People tried to INSINUATE I was simply CRAZY …. Well Folks that was ALWAYS a huge load of MANURE ….. JBW
PHUCK FBI and DOJ as well as FHA / HUD and the CFPB. All of these A$$WIPES are covering up and concealing, whitewashing and hiding Files and Records on America’s Massive Financial FIASCO …. See
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The goal of your business is not to sell to people who can afford them but instead to sell to people who cannot afford them and therefore reap the additional benefits of forfeiture and default, that “high risk” is sort of the point and something very much to be desired.
Loan churning usually works like this: The lender makes a loan the borrower can’t afford. The borrower fails to pay the loan back on time, so the lender offers a new loan that includes another set of …
Oct 24, 2018 · Lending Money to Bet on Default. Also commodities insider trading, Tesla and lottery tickets. By . … Russian Money–Laundering Scandal. Deutsche Bank Seeks to Break Vicious Circle as .
Predatory lending is a pejorative term used to describe unfair, deceptive, or fraudulent practices of some lenders during … such as a car or house, so that if the borrower defaults on the loan, the lender can repossess or foreclose and profit by
Laundering Money Through Lending Activity. Money launderers course massive sums through loans and investments. Bank authorities must perform significant due diligence to detect money laundering in these cases. To top that off, some governments try to discourage detection of such money laundering activities through legislation and regulation.
Deutsche Bank shares slip on reports of investigation over Danske Bank
Fed said to probe Deutsche Bank over suspicious … – American Banker
Danske Bank scandal: Federal Reserve probes Deutsche Bank …
Deutsche faces questions from authorities investigating Danske …
Fed Said to Probe Deutsche Bank Over Suspicious … – Bloomberg
Fed to Probe Deutsche Bank Over Suspicious Danske Billions
Fed to probe Deutsche Bank over Danske: report – MarketWatch
15 hours ago – –The U.S. Federal Reserve has launched an investigation into how Deutsche Bankhandled billions of dollars in suspicious transactions from …
Churning; Breach of Fiduciary Duty; … Exchange Commission is looking into whether financial firms colluded together so that prices in the $6 trillion credit default swaps indexes market became skewed. … Goldman Sachs Faces Criminal Fraud Charges in Malaysia and UBS is Fined $15M Over Poor Anti-Money Laundering Detection Systems and …
Understanding Consumer Financial Behavior: Money Management in an …
Predatory lending can be defined as imposing unfair and abusive loan terms on borrowers. Payday … If borrowers default on the loan, lenders repossess or foreclose, and profit by selling the repossessed or foreclosed (collateral) property.
Aug 15, 2012 · Dealers’ repeat sales of same used car surprisingly common From mid-2008 to this April, 862 licensed used-car dealers in California — about 1 in 8 — sold at least one vehicle three or more times, The Times has found.
In essence, the message was this: the predatory practice of mortgage churning must come to an end. The announcement was lauded by veterans organizations, in particular the American Legion, which made addressing the mortgage churning issue one of their top legislative priorities for 2018
Investigation Finds Car Dealers Basically Setting Customers Up To Fail So They Can Repossess & Resell Vehicles 8.15.12 5:00 PM EDT By Mary Beth Quirk @marybethquirk fear the repo used car dealerships
Loan sharks were meant to be eradicated. Now they’re back. Instead, they transfer them to potential buyers through “contract for deed” transactions – sometimes marketed as “rent to buy”, “seller financing”, or “installment land contracts”. These are not inherently predatory, but …
Beryl Satter, whose father was a white attorney who fought against contract-for-deed loan sharks, estimates that 85 percent of properties sold to blacks during these same years were on contract. Her 2009 book, Family Properties: How the Struggle over Race and Real Estate Transformed Chicago and Urban America , is the definitive history of the Contract Buyers League.
Contents of the
The mortgage loan application package must contain all documentation that supports the lender’s decision to approve the mortgage loan.
When standard documentation does not provide enough information to
support the approval decision, the lender must provide additional, explanatory
statements that are consistent with information in the application. The
explanatory statements must clarify or supplement the documentation
submitted by the borrower.
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Consolidated: Hundreds of FHA Handbooks, Mortgagee Letters, Housing Notices, and other policy documents have been consolidated into this single source. This eliminates the need for mortgagees and other stakeholders in FHA transactions to search through multiple stand-alone policy documents to find precise and current policy information.
HUD‘s Office of the Inspector General can also investigate allegations of improper lending and servicing behavior in the housing market. In the most …
an important role in combating mortgage fraud through civil litigation and criminal investigation and prosecution. The objective of this audit was to assess DOJ’s approach and enforcement efforts in addressing mortgage fraud generally between fiscal years (FY) 2009 and 2011.
Gerald Cugno Overview Gerald Cugno has been associated with seven companies, according to public records. The companies were formed over a ten year period with the most recent being incorporated six years ago in June
Articles in this series examine shell companies masking real estate deals. … in Manhattan and Miami-Dade County as part of a broader federal effort to focus on money laundering in real estate.
Tobon, of Homeland Security, said roughly 50 percent of his investigations involve money launderingthrough real estate. The new order takes effect on Sept. 22 and expires on March 20, 2018.
Toronto’s booming real estate market is vulnerable to money laundering because real estate agents aren’t notifying authorities of suspicious property transactions, leading the national anti …
A Focus on Residential Real Estate and Money Laundering The Financial Crimes Enforcement Network announced the issuance of revised Geographic Targeting Orders. The threshold for reporting has been reduced down to $300,000 for all-cash purchases of residential real estate.
Real estate is an easy vehicle through which to disguise the origins of funds as it is easy to buy real estate with cash and to disguise the real ownership of the asset. It is relatively uncomplicated compared to other laundering strategies. A typical way to launder money through real estate is to merely use a …
A real estate transaction can be used in any one of the the stages of money laundering. For example, if an individual purchases a home and uses illegal funds as part of the down payment, this would be considered integration.
Money laundering through eal r estate 5 The use of real estate is an established method of money laundering internationally.1 Criminals buy high-value goods such as real estate as a way of launderingor concealing illicit funds.
Money laundering risks in the U.S. real estate sector The United States is one of the easiest places in the world to establish an anonymous company. Currently, no U.S. state collects information about beneficial owners of shell companies, which are often used as money laundering tools and fronts for sanctioned countries and individuals.
The primary money laundering risk for the real estate industry is lack of transparency, specifically with regards to cash transactions and purchases by ever-problematic shell companies. Residual effects of realproperty purchased with illegal funds include artificial real estate market inflation and higher costs of living, especially in dense …
Anti-Money Laundering Guidelines for Real Estate Professionals Use of large amounts of cash. o Buyer brings actual cash to the closing. o The purchase of a property without a mortgage, where it does not match the characteristics of the buyer.
Money Laundering and Real Estate: Why the Real Estate Sector Should Prepare for RegulationRegulators and governments are increasing their focus on the real estate …
The report noted that money–laundering through real estate is growing increasingly popular. “Large amounts of money can be legitimized at once, maintaining or increasing its value. Investments in …
August 31, 2017. Private: Trump’s World of Luxury Real Estate Is Fueled By Money-Laundering
Money laundering through real estate hits $1.6 trillion Canada is not alone when it comes to weak enforcement of money laundering through real estate, Accuity’s global head of …
VICTORIA (NEWS 1130) – First casinos, now real estate, horse racing and luxury cars. The fight against money laundering in B.C. has expanded to include …
Jan 14, 2016 · Will Track Secret Buyers of Luxury Real Estate. Image. … The F.B.I. has in recent months created a new unit to focus on money laundering, and real estate …
The PMF, INC. principal adress is 142 W. PLATT ST STE 118, TAMPA, FL, 33606. Meanwhile you can send your letters to 142 W. PLATT ST STE 118, TAMPA, FL, 33606. The company`s registered agent is CUGNO SCOTT 142 W. PLATT ST STE 118, TAMPA, FL, 33606. The company`s management are President – Cugno Scott.
PARAMOUNT MORTGAGE FUNDING INC. has been set up 10/2/2007 in state FL. The current status of the business is Inactive. The PARAMOUNT MORTGAGE FUNDING INC. principal adress is 2575 ULMERTON RD., 250, CLEAWATER, FL, 33762. Meanwhile you can send your letters to 2575 ULMERTON RD., 250, CLEAWATER, FL, 33762.
A mortgage audit looks at your application, review and funding procedures to make sure all applicable laws are followed, all data are accurate and the credit risk was acceptable.
PMF SETTLEMENT SERVICES, INC. has been set up 11/23/2005 in state FL. The current status of the business is Inactive. The PMF SETTLEMENT SERVICES, INC. principal adress is 3001 EXECUTIVE DRIVE, CLEARWATER, FL, 33762. Meanwhile you can send your letters to 3001 EXECUTIVE DRIVE, CLEARWATER, FL, 33762.
It is easiest to verify the income of traditional workers who receive W-2 forms at the end of the year. Independent contractors and self-employed individuals make the task more difficult for lenders and auditors. For these borrowers, the auditor will need to look at bank statements, tax returns, dividends and interest and retirement plan distributions to determine their total income. He will compare the income from your documentation to the income used during the approval process.
A portion of the mortgage audit should also be dedicated to analyzing the appraisal, mortgage insurance and title search on the property that’s used as collateral for the loan. The appraised value must be sufficient to cover the entire balance of the loan unless additional property is pledged as collateral. The mortgage file should include copies of comparable sales and a description of the valuation method the appraiser used to prepare his report, along with a confirmation of the size of the property and any buildings located on the site. The auditor will also request a copy of the title report and mortgage insurance policy for the property in question. The title report should not show any outstanding claims, liens or other defects.
All relevant documentation must be kept in the mortgage file, such as the sales contract, trust deed, escrow instructions, loan documents and closing statement. The closing statement should include a breakdown of the closing costs and seller’s contribution to these costs. Look for unusual items in the contract, such as personal property added as collateral. Make sure the contract still fits within the approval guidelines.
When the auditor is finished, he will prepare a report detailing the results of the review. The report will identify areas of weakness in the company’s approval and lending procedures. The auditor will recommend possible corrections for any issues he discovers during the audit. A follow-up audit may be scheduled to make sure the company has implemented all of the recommended solutions.
The audit must also include a review of the credit reports used to approve mortgages. You should have credit reports from Equifax, Experian and TransUnion. Verify that the correct names and Social Security numbers are listed and that no other aliases or suffixes are causing confusion with another person’s credit report. All forms of credit should have been included in the debt-to-income ratio calculations. The auditor will also compare the borrower’s credit score with your company’s minimum requirements for approval.
October 18, 2010
4155.1 1.B.2.a General Mortgage Credit Analysis Documents
Lenders must obtain the most recent documents required to perform the
mortgage credit analysis. “Most recent” refers to the most recent document
available at the time the loan application is made. See HUD 4155.1 1.B.1.h
for the maximum allowable age of documents.
The documents listed in the table below are the general documents required
for mortgage credit analysis.
Loan Application Fannie Mae Form 1003, Uniform Residential Loan Application
(URLA) signed and dated by all borrowers and the lender, and
Form HUD-92900-A, HUD/VA Addendum to Uniform
Residential Loan Application.
Loan Underwriting and
HUD-92900-LT, FHA Loan Underwriting and Transmittal
Summary, for both purchase and refinance transactions
Social Security Number
For information on obtaining Social Security Number (SSN)
evidence, see HUD 4155.1 1.B.2.b.
Credit Report The lender must obtain a credit report on all borrowers who will
be obligated on the mortgage note, except in cases involving
certain streamline refinance transactions.
Reference: For more information on
credit reports, see HUD 4155.1 1.4 , and
credit report review guidelines, see HUD 4155.1 4.C.2.
Verification of Deposit
For information on verification of deposit, see HUD 4155.1
For information on verification of employment, see
HUD 4155.1 1.B.2.d
HUD 4155.1 1.B.2.e, and
HUD 4155.1 1.B.2.f.
Federal Income Tax
For information on obtaining federal income tax returns, see
HUD 4155.1 1.B.2.g.
Sales Contract The lender must obtain the sales contract and any amendments
or other agreements and certifications.
Real Estate Certification If not contained within the purchase agreement, the lender must
provide the real estate certification, signed by the
selling real estate agent or broker.
References: For more information on the real estate
HUD 4155.2 6.A.5.f, and
HUD 4155.2 6.A.5.g.
Amendatory Clause The lender must provide the amendatory clause, signed by the
borrower and seller, if it is not contained in the purchase
References: For more information on the amendatory clause,
HUD 4155.2 6.A.5.d, and
HUD 4155.2 6.A.5.e.
Verification of Rent or
Payment History on
This document must be in the form of
direct written verification from the landlord or mortgage
information shown on the credit report, or
the most recent 12 months of cancelled checks or receipts for
payment of the rent/mortgage.
TOTAL Scorecard Accept/Approve recommendation: A
separate rental reference is not required.
Reference: For information on the TOTAL Scorecard, see the
TOTAL Mortgage Scorecard User Guide.
For information on obtaining the URAR, see HUD 4155.1
Explanatory Statement The lender must include, in the case binder, any explanatory
statements or additional documentation necessary to make a
sound underwriting decision.
|PMF Inc. Gugno the Racket ….. Premier, Paramount, Pioneer JP Morgan Chase, Select Portfolio Servicing, Credit Suisse, Deutche Bank.