Scott Veerkamp / ALM Group: Documentation Of Mortgage License Revoked By The Indiana Secretary Of State Securities Division...

The Indiana Secretary Of State Securities Division revoked the license of American Liberty Mortgage Group in 2008.  American Liberty Mortgage was located in the REMAX Central office owned by Scott Veerkamp. 

Please take time to review 2 exhibits below...

Download Revoked_Loan_Brokers.pdf


Download American_Liberty_Mortgage.pdf

Documentation Of Letters Sent To REMAX Of Indiana And REMAX International...

Please take time to review 4 exhibits (below)...

I had a phone conversation with David Bickell regarding Scott Veerkamp.  David told me I should contact Jonathan D. Nicholas at REMAX of Indiana to review my complaint.

I filed several written complaints with REMAX of Indiana and REMAX International.  In fact, I stopped at the REMAX regional office on three separate occasions to speak with Janie Monroe about my situation.

I told her I wanted to schedule a meeting with Jonathan D. Nicholas to discuss my complaint against Scott Veerkamp.  My complaint included documentation of Loan Steering and Predatory Lending with REMAX Central.  Nonetheless, Jonathan refused to meet with me and discuss my experience with the "REMAX Central Sting Operation."

To my knowledge, REMAX did nothing to prevent Scott Veerkamp from preying on the unsuspecting public.  Instead, REMAX decided to honor Scott with a "Lifetime Achievement Award" for his effort in misrepresenting the public...

Download Jonathan_D._Nicholas_on_Plaxo.pdf

Download Letter_to_Jonathan_D._Nicholas.pdf

Download Email_to_Jonathan_D._Nicholas.pdf

Download Letter_to_REMAX_International.pdf

REMAX: Pam Aguirre Refuses The Delivery Of My Complaint Against Scott Veerkamp...

Please take time to review 2 exhibits (below)...

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." 

Pam Aguirre had the following statement on her website dated May 1, 2008:  "Pam is a member of the Metropolitan Indianapolis Board of Realtors (MIBOR) where she helps protect the interest of homeowners and increase professionalism in the industry by serving on the board of directors." 

In addition, this statement was included on her website in 2008:  "Pam communicates openly at all times and not only answers questions but supplies additional information whenever possible."

As a member of MIBOR, Pam did absolutely nothing to protect my interest.  She refused to review my complaint against REMAX Central. 

Unfortunately, the REMAX organization consistently uses Bait and Switch tactics to deceive the public.  Here are some examples...

1. Pam "communicates openly at all times" going in---and Pam refuses to discuss my documentation on Loan Steering going out.  2. Pam "helps protect the interest of homeowners" going in---and Pam refuses the delivery of my complaint against REMAX Central going out. 

In my opinion,  Pam should spend less time shopping and more time investigating complaints about Loan Steering and Predatory Lending with REMAX realtors.  This would be a legitimate way for her to "help protect the interest of homeowners."  

Here are some examples of Scott Veerkamp's deception with Predatory Lending tactics... 

"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) 

Download Website_Information.pdf

Download Refusing_Delivery.pdf

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 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. 

David Bickell: Consumer Alert / REMAX

REMAX:  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."

As the President of MIBOR, David Bickell did absolutely nothing to protect my interest.  He watched Scott Veerkamp's sting operation collect $26,000 at my expense.  Unfortunately, the REMAX organization consistently uses "Bait and Switch" tactics to deceive the public.  Here is an example...

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) 

Scott Veerkamp: The Land Contract Scam...

Please take time to review "Exhibit H" and the letter from GMAC Mortgage (below)

 

1. The letter from Chris Moore (Exhibit H) was included in Scott Veerkamp's response to MIBOR.  2.  This letter confirms Scott's intention to sell the property on contract. 

GMAC Mortgage provided the following response:

"This mortgage is neither assumable nor transferable under any terms or conditions.  Upon any sale or transfer of this loan, we would require payment in full of this mortgage."   

Clearly, Scott Veerkamp was attempting serious financial harm with his "land contract scam."  Unfortunately, this scenario is common for Scott.  He is constantly manipulating and misrepresenting information to the public.

Please note: 

REMAX of Indiana presented Scott Veerkamp with a "Lifetime Achievement Award" for his effort in using YSP and implementing the land contract scam.

Download Land_Contract_Information.pdf

Download GMAC_Letter.pdf

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)