REMAX: Response From NAR President Dick Gaylord

Please take time to review 8 exhibits (below)...

Here is my email and the response I received  from Dick Gaylord (NAR.)  As I said before, this is a mass scale "Bait and Switch" operation with REMAX and the National Association of Realtors.  

Jim,

    The process for ethics complaints works where there are complaints within the jurisdiction of the Association.

    As you mentioned to me you have taken your complaint to numerous entities and none will take it on.

    I am sorry I cannot help.  This matter falls under the jurisdiction of the local association and I have no authority to get involved.

    I wish you the best in your future real estate endeavors.  My personal advise:  don't let this consume you;  get on with your business and life.

    I am off to D.C. for NAR's midyear meetings.

         Dick Gaylord

 ----- Original Message -----

From: "jim bruggenschmidt"

Sent: 05/10/2008 07:31 AM AST

To: dick@dickgaylord.org

Subject: NAR Ethics Complaint

Attn:  Mr. Dick Gaylord / NAR President

I have contacted several different members of the Indiana Association

of Realtors (State Board.)  In addition, I have contacted a member of

the Board of Directors with MIBOR.  To date, I have not found anyone

willing to discuss my complaint with me.  As you know, NAR members say

they are dedicated to "protecting and promoting the interest of the

client."

I have not found this to be the case in Indiana.  Unfortunately, it

would appear that Scott Veerkamp continues to use "predatory lending"

tactics with his customers.  As you know from reading my letter, there

is a possibility that Scott has caused financial harm to over 1,000

clients in the last 5 years with the use of YSP.

I find this information to be disturbing...

Sincerely,

Jim Bruggenschmidt

Download atlanta_legal_aid.pdf

Download gaylord_fair_housing.pdf

Download gaylord_facing_foreclosure.pdf

Download Code_Of_Ethics.pdf

Download Public_Awareness_Campaign.pdf

Download gaylord_website.pdf


Download Seven_Signs_of_Predatory_Lendi.pdf

Download Predatory_Lending_Information.pdf

Scott Veerkamp Refuses To Conduct An Open House

Download Exhibit_NN.pdf

Scott Veerkamp was living in a home located "one block down the street" from the property he listed with REMAX Central.  Nonetheless, Scott refused to conduct an open house on the property located at 8202 Eaton Court.

Apparently, Scott felt $26,000 was not enough money to justify driving (one block) to conduct an open house.  Therefore, REMAX Central consistently refused to show the property.  This information represents another Bait and Switch tactic from Scott Veerkamp: "Doing His Very Best" to "Serve Others First." 

Please take time to review the "record of property shown" receipts in Scott's response to MIBOR.  The specific receipt I am referring to is in the upper right hand corner of Exhibit NN.  (Scott showed the property 1 time in 10 months to a legitimate buyer.)

As I mentioned earlier, REMAX decided to honor Scott with a Lifetime Achievement Award for his effort in showing my property 1 time in 10 months.  In return, Scott used the award to recognize himself with another advertisement in Christian Phone Book. 

Scott Veerkamp: REMAX...YSP Scam

Regarding disclosure of Yield Spread Premium, would this be a typical
conversation between a REMAX Realtor and a client?

REMAX Realtor:  I can get you a loan at 4.5%, or I can get you a loan
at 5%. I will receive a kickback on the 5% loan for increasing your
interest rate. Which loan do you prefer?

Client: Please give me the 5% loan so you can receive a kickback on
my mortgage. In addition, I want to pay thousands of extra dollars
over the life of my loan so you can deposit the kickback in your bank
account.

REMAX Realtor: Thank you for understanding and appreciating the
benefits of YSP.

Client: You are welcome. As you know, there is a high probability
that REMAX will honor you with a "Lifetime Achievement Award" for your
effort in assisting me with Yield Spread Premium.

REMAX Realtor: You are correct. REMAX requires us to follow a strict
Code of Ethics in the representation of our clients. In fact, we are
required to follow the "Golden Rule" at all times. This is the reason
we are presented with "Lifetime Achievement Awards" each year.

Client: Congratulations on your accomplishments. However, I have one
final question: Should I use Countrywide Home Loans or Wells Fargo to
provide the funding for my predatory loan? I noticed these companies
were listed as "Platinum Sponsors" with members of the National
Association of Realtors.

I think you get the picture... In my opinion, I believe it is more
appropriate to use the word "disguised" when referencing YSP. This is
more realistic than using the word "disclosed."

Why would anyone agree to a higher interest rate if they understood
the financial impact it was having on their mortgage? For obvious
reasons, this is why Senator Merkley refers to Yield Spread Premium as
a "secret bonus payment" and a scam.

Please note: The Center for Responsible Lending and the National
Association of Realtors produced a brochure entitled: "How to Avoid
Predatory Lending." The brochure refers to Yield Spread Premium as
Predatory Lending.

As I mentioned earlier, MIBOR says "Realtors are held accountable for
their ethical behavior." Who is holding REMAX and the National
Association of Realtors accountable for deliberately misleading the
public?

Please take time to review the following articles...

Loan Steering Lawsuit:
http://www.huffingtonpost.com/2010/06/30/countrywide-lawsuit-racia_n_630661.html

Subprime Loan Steering:
http://industry.bnet.com/financial-services/10003019/ex-wells-fargo-loan-officer-details-shady-practices/?tag=talkback;tb-content

Loan Steering Lawsuit:
http://www.dailyfinance.com/story/real-estate/wells-fargo-subprime-mortgage-exit/19548625/

REALTORS and Yield Spread Premium:
http://www.realtyresourcesil.com/Seven-Signs-of-Predatory-Lending.asp

National Association of Realtors and Predatory Lending:
http://www.realtor.org/home_buyers_and_sellers/how_to_avoid_predatory_lending

Center for Responsible Lending:
http://www.responsiblelending.org/mortgage-lending/research-analysis/ib-ysp-110507-final.pdf

Center for Responsible Lending:
http://www.responsiblelending.org/mortgage-lending/tools-resources/ib011-YSP_Equity_Theft-0604.pdf

Senator Jeff Merkley and Yield Spread Premium:
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F

NAR Code of Ethics:
http://www.realtor.org/mempolweb.nsf/pages/code

Scott Veerkamp (NAR):  "You can trust our Realtors to always keep your interest first and foremost."

Loan 1:  (Property value $150,000)  A. $4,799 yield spread premium  B. $500 processing fee  C. $250 document preparation fee  D. $50 courier fee  E. $35 electronic filing fee  F. $425 administration fee (lender fee)  

Loan 2:  (Property value $120,000)  A. $1,440 yield spread premium  B. $960 application fee  C. $1,920 in "discount points" (paid to Scott Veerkamp)  D. $409 administration fee (lender fee)  E. $150 underwriting fee (lender fee) 

Warning Letter To Scott Veerkamp From The Office Of The Indiana Attorney General

Here is the warning letter to Scott Veerkamp:

 

Download Warning_Letter.pdf

 

Scott Veerkamp is the President of the Franklin Township School Board and a member of the National Association of Realtors.  Please ask Scott to post a copy of his WARNING letter from the office of the Indiana Attorney General.  In addition, please encourage Scott to provide a written response to items 1-16 on this website.

Items 1-8 in group A:  1.  I have documentation of a WARNING letter that was sent to Scott Veerkamp from the office of the Indiana Attorney General.  2. This letter was sent to Scott in November of 2008.  3. Here are the questions I have regarding this letter:  A.  Is a WARNING letter supposed to be an example of how Scott Veerkamp was "exonerated" by the office of the Indiana Attorney General?  B. Can Scott post a copy of his WARNING letter for the public to review?  4. Please explain how a $1,440 Yield Spread Premium "protects and promotes the interest of your client."  FYI:  The federal government has banned the use of YSP.  5. Please explain how a $4,799 Yield Spread Premium "Serves Others First."  This is in reference to your OTHER client in Wanamaker, IN.  6. Please provide documentation that shows how you "protected and promoted the interest of your client" when you attempted to sell a $120,000 property on a land contract with a "due on sale clause."  7.  Please explain how you honored your fiduciary responsibility to your client when you made approximately $26,000 on a $120,000 property listed with REMAX Central in your own neighborhood.  8.  Please provide documentation that shows how you "did your very best" when you refused to conduct an open house on a property located "one block down the street" from the house you were living in.

 

Items 9-16 in group B:  9. Apparently, $26,000 was not enough money to justify Scott driving "one block down the street" to conduct an open house on the $120,000 property.  10. David Worley used to work for Scott Veerkamp at REMAX Central.  Scott had an appraisal conducted on the $120,000 property in response to my complaint.  The appraisal was conducted by Bill Worley.  Are David Worley and Bill Worley related?  11. Scott refers to me as licensed real estate agent.  I would like for Scott to provide documentation that supports this statement.  12. Please explain why you removed my property from the multiple listing service after I filed my complaint with MIBOR.  How was I supposed to sell this property if you refuse to conduct an open house?  How was I supposed to sell this property if you remove it from the MLS?  13. The National Association of Mortgage Brokers stated it is not necessary to pay an application fee.  Please explain how a $960 application fee keeps the interest of your client "first and foremost."  14. NAMB says processing fees are a violation of their code of ethics because "they're generally not related to any actual service performed by a broker."  Please explain how a $500 processing fee "protects and promotes the interest of your client."  15. Scott ran an advertisement in Christian Phone Book with the following statement:  "We will do our very best to help you get the lowest possible interest rates at the lowest possible price."  A. Please provide documentation that explains how a $4,799 Yield Spread Premium represents "the lowest possible interest rate."  B. Likewise, please explain how a $960 application fee represents "the lowest possible price."  16. ISBA Code of Ethics:  Please provide documentation that shows how you "met the responsibilities to your community" when you steered people into high cost loans. 

 

I look forward to a written response from Scott Veerkamp on items 1-16.

 

 

Jim Bruggenschmidt

 

 

NAR:  "How To Avoid Predatory Lending"

http://www.realtor.org/home_buyers_and_sellers/how_to_avoid_predatory_lending

 

The Center For Responsible Lending:

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

 

Scott Veerkamp: Deceptive Advertising

In doing some research on the Code of Ethics, I found the following
information listed on the RE/MAX International website: "The REALTOR
you hire adheres to a strict Code of Ethics and professionalism while
protecting ownership of property." "In the U.S., all of our agents
are members of their local REALTOR board and uphold the associated
strict Code of Ethics."

Please be advised that I am providing evidence of "Bait and Switch"
advertising on behalf of Scott Veerkamp and his organization. Scott
and his company ran the following advertisement in Christian Phone
Book: "We will do our very best to help you get the lowest interest
rates possible at the lowest possible price."

Upon review, you will see two examples of "Bait and Switch"
advertising in this message. Please take time to review the following
examples...

Example #1: A $4,799 Yield Spread Premium does NOT represent "the
lowest possible interest rate." Again, I refer you to the Center for
Responsible Lending and their definition of Yield Spread Premium: "A
YSP is a cash bonus that a broker receives from a lender for placing
borrowers in a loan with a HIGHER interest rate than the lender would
accept. The higher the interest rate, the higher the premium received
by the broker." "The effect of YSP is to steal equity from struggling
families."

Example #2: A $960 application fee does NOT represent the "lowest
possible price." As discussed earlier, the National Association of
Mortgage Brokers says it is not necessary to pay an application fee.
Therefore, "the lowest possible price" for an application fee is ZERO.
With regard to advertising, the Better Business Bureau defines "Bait
and Switch" in the following manner: "A "bait" offer is an alluring
but insincere offer to sell a product or service which the advertiser
does not intend to sell. Its purpose is to SWITCH consumers from
buying the advertised merchandise or service, in order to sell
something else, usually at a HIGHER price or on a basis more
advantageous to the advertiser."

After reading this description, it is evident Scott Veerkamp meets all
of the requirements for "Bait and Switch" advertising. Here are 4 key
points to review: 1. Obviously, Scott was not sincere about offering
"the lowest possible interest rate" or "the lowest possible price" to
his clients. 2. He simply used these statements as "bait." 3. In the
next step, Scott "switches" his clients to Yield Spread Premium and
junk fees. 4. Clearly, these HIGHER fees are more advantageous to the
advertiser.

In doing some additional research on the Code of Ethics, I found the
following information listed on the Metropolitan Indianapolis Board of
Realtors website: 1. "REALTORS shall be careful at all times to
present a true picture in their advertising and their representations
to the public." 2. "The Code of Ethics is a promise to the public
that when dealing with a real estate agent who is a REALTOR, they can
expect honest and ethical treatment in all transaction- related
matters." 3. "Only REALTORS pledge to abide by the Code of Ethics,
and only REALTORS are held accountable for their ethical behavior."

Previously, Scott Veerkamp deliberately misled the public when he
presented the following statement on one of his websites: "As a
Christian business owner, it truly is the desire of my heart to not be
a "Superstar," but rather a "Super Servant" with the hope of achieving
excellence by keeping the interest of my clients above all else."

Please note: Yield Spread Premium and Junk Fees represent the extreme
opposite of the statement listed above. In fact, Predatory Lending
puts the public at risk for serious financial harm. Unfortunately,
this is the same public Scott Veerkamp claims to be "Serving."

Media Censorship, YSP, and Predatory Lending

The local media will not cover my story on YSP because REMAX spends a lot of money advertising with major media outlets.  For obvious reasons, REMAX wants to keep this information hidden from the public.  In my personal opinion, this represents an example of "media censorship."

As you know, Scott Veerkamp was allowed to express his thoughts and feelings about Toni Morrison in the traditional media.  He referred to her book (Song of Solomon) as "garbage."  Freedom of speech allows Scott to express himself in this manner.

Unfortunately, I have not been allowed to express my thoughts about Scott Veerkamp in the traditional media.  To date, I have been forced to communicate my information in the following manner:  1. Hard copy documentation  2. Email  3. Blogs  4. Twitter

You are probably wondering if I have contacted "investigative reporters" with this information.  The answer is yes...

It is obvious their voice has been silenced by REMAX and "Big Corporate Money."  The media knows I have mounds of documentation to support the information in my articles.  Nonetheless, the traditional media refuses to cover this story.

This is my belief:  If you can prove you are telling the truth, the public has a right to hear your voice.

In fact, this is the perfect example of Wall Street versus Main Street.  In this case, "Big Corporate Money" has used its influence to keep this information out of the media.  In other words, they want the people on Main Street to absorb the financial repercussions of this scam.

Here are the questions I have regarding the mortgage meltdown:  A. What keeps us from bailing out the people that were ripped-off and lied to by Predatory Lenders?  B. Why do we keep bailing out Wall Street firms that were preying on consumers?

Essentially, the government is rewarding Wall Street for preying on the public.  The consumer gets burned in two different ways:  1. Predatory Lending:  In the beginning, consumers were misrepresented with deceptive mortgages that were difficult to understand.  As you know, these mortgages were loaded with Junk Fees, Yield Spread Premium, and Prepayment Penalties.  2. The bailouts:  In the next step, the victims in this scenario were asked to bailout the companies that initiated the Predatory Lending.

Here is an example of what I am talking about:  Wells Fargo is nationally recognized for their Predatory Lending tactics in the subprime market.  They consistently used deception to steal equity from the public.  Nonetheless, the government gave Wells Fargo $25 billion in bailout funds.  The victims in this scenario received nothing from the government---yet they were asked to support the bailout. 

In summary, it is obvious that "deception" has played a critical role in this financial crisis.  Clearly, no one would agree to pay a higher interest rate if they understood the financial impact it was having on their loan...

http://www.realtor.org/home_buyers_and_sellers/how_to_avoid_predatory_lending

http://www.responsiblelending.org/mortgage-lending/research-analysis/ib-ysp-110507-final.pdf

http://www.responsiblelending.org/mortgage-lending/tools-resources/ib011-YSP_Equity_Theft-

http://www.naca.net/predatory-lending-practices/

http://jmb27.posterous.com/email-response-from-remax-agent-dick-gaylord

http://www.realtor.org/mempolweb.nsf/pages/code

http://www.cbsnews.com/stories/2009/02/09/eveningnews/main4788018.shtml

http://www.bnet.com/blog/financial-business/ex-wells-fargo-loan-officer-details-shady- 

http://www.dailyfinance.com/story/real-estate/wells-fargo-subprime-mortgage-exit/19548625/

http://iphone.indystar.com/posts/22137

Scott Veerkamp (NAR):  "You can trust our Realtors to always keep your interest first and foremost."

Loan 1:  (Property value $150,000)  A. $4,799 yield spread premium  B. $500 processing fee  C. $250 document preparation fee  D. $50 courier fee  E. $35 electronic filing fee  F. $425 administration fee (lender fee)  

Loan 2:  (Property value $120,000)  A. $1,440 yield spread premium  B. $960 application fee  C. $1,920 in "discount points" (paid to Scott Veerkamp)  D. $409 administration fee (lender fee)  E. $150 underwriting fee (lender fee) 

Jonathan Nicholas and The REMAX Central Sting Operation...

When I filed my initial complaint with REMAX of Indiana, Jonathan Nicholas had the following designations:  NAR, CRB, CRS, and GRI.

As I mentioned earlier, my initial complaint included documentation of Loan Steering and Predatory Lending.  Likewise, I informed Jonathan that Scott Veerkamp removed my property from the MLS without my permission.

Please take time to review this important information:

1. Jonathan Nicholas refused to meet with me and discuss my experience with the REMAX Central Sting Operation.  2. Scott Veerkamp made approximately $26,000 on a $120,000 property with a "land contract scam."  3. Scott refused to conduct an open house on this property.  4. Scott lived "one block down the street" from this property.  5. Jonathan Nicholas presented Scott Veerkamp with a "Lifetime Achievement Award" for misrepresenting the value of this property and stealing my money.  6. Scott used the award to recognize himself with another advertisement in Christian Phone Book.  7. Apparently, this is supposed to be an example of how to "protect and promote the interest of your client."  8. In reality, this felt like a "mafia hit" on behalf of the REMAX organization.  9. This "mafia hit" included the following components:  A. Loan Steering  B. Predatory Lending  C. Inflated property value  D. Land contract with a "due on sale" clause.  E. $26,000 "heist" for Scott Veerkamp.

The information above provides additional documentation that REMAX and the National Association of Realtors are participating in a "pattern of deception" with the public.

MIBOR: Code of Ethics "Bait and Switch"

Scott Veerkamp removed my property from the MLS after I filed a complaint with MIBOR.  After spending some time reviewing my options, I contacted another REMAX agency to see if they would put my property back on the market.  The REMAX agency I contacted refused to list my property.

It is important to note that I was not living in this property.  The people at MIBOR and REMAX knew it was costing me $1,000 per month.  They seemed to feel it was permissible for Scott Veerkamp to remove my property from the MLS without my permission.  In other words, MIBOR and REMAX declined to offer me any assistance in this difficult situation. 

They watched Scott Veerkamp's sting operation collect $26,000 at my expense.  This is another example of MIBOR using the "Golden Rule" as a bait and switch tactic.

REMAX Central: Open House ?

Scott Veerkamp had an "open houses" link on a previous website.  Nonetheless, he refused to conduct an open house on the property I listed with him in Wanamaker, IN.  (Property value $120,000)

Scott lived in the same neighborhood where the property was listed. This is the same property he used to collect approximately $26,000 in profit with his "Bait and Switch" strategy.  This deceptive strategy involved a land contract with a "due on sale clause."  As I mentioned earlier, this experience felt like a "mafia hit" on behalf of The REMAX Central Sting Operation.

Apparently, Scott felt $26,000 was not enough money to justify "driving one block down the street" to conduct an open house.  As you might expect, REMAX of Indiana presented Scott Veerkamp with a "Lifetime Achievement Award" for his effort in collecting $26,000 at my expense. 

Please note:  Jonathan Nicholas (NAR) was informed about the shady business tactics of Scott Veerkamp.  I included documentation of Loan Steering and Predatory Lending in the complaints I filed with his office.  Jonathan Nicholas presented Scott Veerkamp with additional "awards" after reviewing evidence that REMAX Central was preying on the unsuspecting public.

Email response from REMAX agent Dick Gaylord / NAR President 2008

Please review my email and the response I received from Dick Gaylord (NAR.)  As I said before, this is a mass scale "Bait and Switch" operation with REMAX and the National Association of Realtors.  

Jim,

    The process for ethics complaints works where there are complaints within the jurisdiction of the Association.

    As you mentioned to me you have taken your complaint to numerous entities and none will take it on.

    I am sorry I cannot help.  This matter falls under the jurisdiction of the local association and I have no authority to get involved.

    I wish you the best in your future real estate endeavors.  My personal advise:  don't let this consume you;  get on with your business and life.

    I am off to D.C. for NAR's midyear meetings.

         Dick Gaylord

 ----- Original Message -----

From: "jim bruggenschmidt"

Sent: 05/10/2008 07:31 AM AST

To: dick@dickgaylord.org

Subject: NAR Ethics Complaint

Attn:  Mr. Dick Gaylord / NAR President

I have contacted several different members of the Indiana Association

of Realtors (State Board.)  In addition, I have contacted a member of

the Board of Directors with MIBOR.  To date, I have not found anyone

willing to discuss my complaint with me.  As you know, NAR members say

they are dedicated to "protecting and promoting the interest of the

client."

I have not found this to be the case in Indiana.  Unfortunately, it

would appear that Scott Veerkamp continues to use "predatory lending"

tactics with his customers.  As you know from reading my letter, there

is a possibility that Scott has caused financial harm to over 1,000

clients in the last 5 years with the use of YSP.

I find this information to be disturbing...

Sincerely,

Jim Bruggenschmidt

REMAX: "Team Building"

Scott Veerkamp had the following statement on a previous website...

"Scott is nationally recognized by REMAX International and has been featured as a speaker on Team Building on the REMAX training system that was broadcast to REMAX offices nationwide."

Here are the questions I have regarding this statement: 
1. Was Scott Veerkamp teaching REMAX realtors how to use their clients as a "profit center" at closing?  2. Is manipulation and deception part of the "Team Building" process at REMAX International?  3. Was Predatory Lending and YSP included as part of the training system?

I find it strange that REMAX continued to recognize Scott with specific awards when they knew he was preying on the unsuspecting public.

www.ftcsc: Scott Veerkamp / Preying On Consumers

David Knight, David Wright, and Sheryl Owen grabbed a "ringside seat" at REMAX Central closings.  They helped Scott Veerkamp prey on the unsuspecting public with deceptive lending tactics.

I find it interesting that Scott refers to himself as a Christian Businessman.  He wants people in his community to believe he is praying for them.  In reality, he is preying on them.  Please do not be fooled when he describes himself as a "Christian Super Servant."

Upon review, you will see he uses the following entities to gain trust with the public:  1. NAR Code of Ethics.  2. ISBA Code of Ethics.  3. Indian Creek Christian Church.  4. Christian Phone Book. 

In my personal experience, Scott will literally say anything to gain access to your money.  Here is the perfect example:  "You can trust our REALTORS to always keep your interest first and foremost." 

Again, a $4,799 Yield Spread Premium represents the extreme opposite of this statement.

REMAX Realtors: Disclosure of Yield Spread Premium

Regarding disclosure of Yield Spread Premium, would this be a typical
conversation between a REMAX Realtor and a client?

REMAX Realtor: I can get you a loan at 4.5%, or I can get you a loan
at 5%. I will receive a kickback on the 5% loan for increasing your
interest rate. Which loan do you prefer?

Client: Please give me the 5% loan so you can receive a kickback on
my mortgage. In addition, I want to pay thousands of extra dollars
over the life of my loan so you can deposit the kickback in your bank
account.

REMAX Realtor: Thank you for understanding and appreciating the
benefits of YSP.

Client: You are welcome. As you know, there is a high probability
that REMAX will honor you with a "Lifetime Achievement Award" for your
effort in assisting me with Yield Spread Premium.

REMAX Realtor: You are correct. REMAX requires us to follow a strict
Code of Ethics in the representation of our clients. In fact, we are
required to follow the "Golden Rule" at all times. This is the reason
we are presented with "Lifetime Achievement Awards" each year.

Client: Congratulations on your accomplishments. However, I have one
final question: Should I use Countrywide Home Loans or Wells Fargo to
provide the funding for my predatory loan? I noticed these companies
were listed as "Platinum Sponsors" with members of the National
Association of Realtors.

I think you get the picture... In my opinion, I believe it is more
appropriate to use the word "disguised" when referencing YSP. This is
more realistic than using the word "disclosed."

Why would anyone agree to a higher interest rate if they understood
the financial impact it was having on their mortgage? For obvious
reasons, this is why Senator Merkley refers to Yield Spread Premium as
a "secret bonus payment" and a scam.

Please note: The Center for Responsible Lending and the National
Association of Realtors produced a brochure entitled: "How to Avoid
Predatory Lending." The brochure refers to Yield Spread Premium as
Predatory Lending.

As I mentioned earlier, MIBOR says "Realtors are held accountable for
their ethical behavior." Who is holding REMAX and the National
Association of Realtors accountable for deliberately misleading the
public?

REMAX Agent Pam Aguirre (NAR)

Pam Aguirre is a member of the Metropolitan Indianapolis Board of
Realtors. I mailed a complaint to Pam regarding Scott Veerkamp's
Predatory Lending tactics. The complaint included documentation of
Loan Steering with YSP and Junk Fees. (She refused the delivery of my
complaint.)

This response provides additional evidence that REMAX and the National
Association of Realtors are participating in a "pattern of deception"
with the public. As I mentioned earlier, MIBOR states the following:

1. "REALTORS shall be careful at all times to present a true picture
in their advertising and their representations to the public." 2.
"The Code of Ethics is a promise to the public that when dealing with
a real estate agent who is a REALTOR, they can expect honest and
ethical treatment in all transaction- related matters." 3. "Only
REALTORS pledge to abide by the Code of Ethics, and only REALTORS are
held accountable for their ethical behavior."

The public can expect honest and ethical treatment in all transaction-
related matters...? Clearly, this is a mass scale "Bait and Switch"
operation with REMAX and the National Association of Realtors.

REMAX Central: $26,000 In Profit On A $120,000 Property

Again, I want to emphasize Scott Veerkamp made approximately $26,000
in profit on a $120,000 property. Please understand this is a real
number. It is not a "misprint."

Scott accomplished this profit using a "Bait and Switch" strategy with
a REMAX Central listing in Wanamaker, IN. This is why I refer to his
company as the REMAX Central Sting Operation. In my personal
experience, this felt like a "mafia hit" on behalf of the REMAX
organization.

I mailed a hard-copy complaint to 13 different contacts affiliated
with the REMAX organization. This includes REMAX of Indiana and REMAX
International. I was consistently "brushed aside" and ignored by
REMAX corporate and members of the National Association of Realtors.
Obviously, Scott Veerkamp was not focused on "protecting the interest
of his clients." In reality, he used his customers as a profit center
to expand his personal bank account.

Please take a moment to review the following information:
1. REMAX of Indiana presented Scott with a "Lifetime Achievement
Award" after reviewing my complaint. 2. My complaint included
documentation of Loan Steering and Predatory Lending. 3. Jonathan
Nicholas (NAR) presented the award to Scott Veerkamp. 4. In return,
Scott used the award to recognize himself with another advertisement
in Christian Phone Book.

REMAX Agent David Bickell (NAR)

David Bickell was the President of the Indianapolis Metropolitan Board
of Realtors in 2008. According to MIBOR: 1. "REALTORS shall be
careful at all times to present a true picture in their advertising
and their representations to the public." 2. "The Code of Ethics is a
promise to the public that when dealing with a real estate agent who
is a REALTOR, they can expect honest and ethical treatment in all
transaction- related matters." 3. "Only REALTORS pledge to abide by
the Code of Ethics, and only REALTORS are held accountable for their
ethical behavior."

Clearly, there is a "pattern of deception" emerging with REMAX and the
National Association of Realtors...

REMAX / Fiduciary Responsibility

REMAX claims their agents have a fiduciary responsibility to their
clients. Are inflated rates and REALTOR "kickbacks" in the best
interest of the client?

REMAX International

REMAX International was fully aware of Scott Veerkamp's Predatory
Lending tactics. To my knowledge, REMAX corporate made no effort to
protect the public from his abusive lending.

American Liberty Mortgage

Scott Veerkamp's sister (Sheryl) worked for American Liberty Mortgage
in the REMAX Central office at Beech Grove. She helped Scott
implement deceptive lending tactics with YSP and Junk Fees at closing.

Jonathan Nicholas / REMAX of Indiana

Jonathan Nicholas was with REMAX of Indiana when I alerted him about
Scott Veerkamp's Predatory Lending tactics. To my knowledge, REMAX
did nothing to prevent Scott from "stealing equity from struggling
families."