1 Comment for Amazing Case Of Loan And Mortgage Fraud

• 1. H. E. DAVIS  |  October 14th, 2009 at 8:09 pm

  This is just a sample of what has and is still taking place in our country. For those of us that can remember back in the mid 80′s when Landbank Equity out of Va. Beach, Va. with Wm. R. and Marika Runnels did basically the same thing…which ultimately involved lenders in 32 states, with the losses causing several banks and S & L’s to close down. Fannie Mae & Freddie Mack were a big part of the fraud and knew what they were buying…in fact, after providing them evidence of what was happening, I was told by a big-wig at Fannie Mae “to leave it alone”…well I didn’t. I told him if they bought another Landbank loan I’d have his damn job. I couldn’t get the FBI or the Va. Atty Gen to comprehend what was happening, but the Editor and 2 reporters witht he Va. Pilot did, and it took them 6 months to put them under with what I provided them. I’ve said for a long time this was happening nationwide, and now it’s finally busting wide open…and as the old saying goes: “You ain’t seen nothing yet”… Ultimately, you will learn that many illegal Middle Easterner’s in our country are behind a large percentage of this downfall…They promised to put us under through our banking system, and so far they’ve done a good job of it. There is no one with the FBI, or any other branch of government with enough investigative background to begin to understand or comprehend the variety of things these individuals have done, and continue doing. They don’t know how to do a title search, and see the number of times a property changes names in a short time frame, they don’t know how to track these changes, or pick up on the variation in name spelling, forged signatures, fraudulent appraisals, etc. etc… It will be a long time before this mess is understood by those we expect to investigate and prosecute.

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