Please take time to review the information in this blog entitled: "Fighting foreclosure fraud by sharing the knowledge."
Kathy Hendricks makes the following statement regarding Scott Veerkamp: "I would like to hear more about Scott as I have a problem with him also."
For obvious reasons, it is important for the public to know Scott collected large sums of money with "kickbacks" on Predatory Loans. Therefore, I am informing consumers about his deceptive lending tactics in my blogs.
Sheryl (Veerkamp) Owens SCAM:
ReplyDeleteSheryl (Veerkamp) Owens is Scott Veerkamp's sister. She worked for Scott at American Liberty Mortgage. Sheryl Owens helped Scott Veerkamp prey on the public with deceptive lending tactics. These tactics included the following: 1. Kickbacks on Predatory Loans (Yield Spread Premium.) 2. False Advertising 3. Loan Steering 4. Excessive Fees
Sheryl Owens and Scott Veerkamp used "Bait and Switch" tactics on consumers. Here is an example of what I am talking about...
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
"Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM."
The Center for Responsible Lending says YSP "steals equity from struggling families."
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
NAR: Predatory Lending Information
http://www.zimbio.com/Exposing+Scams/articles/15VN_4Q6HLA/NAR+Predatory+Lending+Information
Center for Responsible Lending: Seven Signs of Predatory Lending
http://www.zimbio.com/Exposing+Scams/articles/AKevJQHWOKO/Center+Responsible+Lending+Seven+Signs+Predatory
Center For Responsible Lending: YSP document...
http://www.responsiblelending.org/mortgage-lending/research-analysis/ib-ysp-110507-final.pdf
CRL and Equity Theft:
http://www.responsiblelending.org/mortgage-lending/tools-resources/ib011-YSP_Equity_Theft-0604.pdf
Jeff Merkley and Yield Spread Premium:
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F
Warning letter to Scott Veerkamp:
http://jmb27.posterous.com/warning-letter-to-scott-veerkamp-from-the-off
Scott refuses to drive (one block) to conduct an open house:
http://jmb27.posterous.com/scott-veerkamp-refuses-to-conduct-an-open-hou
Scott Veerkamp owes money:
http://jmb27.posterous.com/excessive-interest-rates