Scott Veerkamp: Loan Steering / American Liberty Mortgage

Please take time to review the following mortgage documents from American Liberty Mortgage. I am still trying to understand how Scott Veerkamp "Served Others First" when he steered people into high cost loans...

Mortgage Documents PDF:
http://www.scribd.com/doc/124992449/mortgage-documents-1-and-2


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)

You can find Yield Spread Premium on the settlement statement in your mortgage documents. It will be listed as P.O.C. or paid "outside of closing." This shows the dollar amount of the kickback your broker received for inflating your interest rate.

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-0604.pdf

Potential Class Action Lawsuit: Loan Steering / Yield Spread Premium

Letter from attorney PDF:
http://www.scribd.com/doc/125651087/YSP-Letter-Attorney

I do not qualify for legal action because my loan was initiated in 2004.  However, it is estimated that 60% of all mortgages across the nation contain Yield Spread Premium  (YSP). 

Please take time to review the letter (above) from a law firm in Indiana.  According to the letter, loans initiated within the last 3 years may qualify for legal action... 

You can find Yield Spread Premium on the settlement statement in your mortgage documents.  It will be listed as P.O.C. or paid "outside of closing."  This shows the dollar amount of the kickback your broker received for inflating your interest rate. 

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-0604.pdf

Franklin Township bus fees: Scott Veerkamp conflict of interest...

Scott Veerkamp is the President of the Franklin Township School Board.  In addition, Scott is a member of the CIESC Advisory Council.  Clearly, this is a huge "conflict of interest" for three specific reasons... 

1. CIESC is collecting fees on (school buses) already paid for with Franklin Township tax dollars.  In other words, parents are being DOUBLE TAXED for their children's transportation to school. 

2. As many people know, Scott Veerkamp OWES MONEY in back taxes. 

3. Given this information, why are the residents of Franklin Township being DOUBLE TAXED by a School Board President that refuses to pay his own taxes?

Important video to review:

http://www.fox59.com/videobeta/?watchId=74ac22d9-a496-474a-a630-0c8c5159e6e7

Scott Veerkamp:  Unpaid taxes..

http://hadenoughindy.blogspot.com/2010/11/elected-officials-who-didnt-pay-their.html

Conflict of interest:

http://www.ftcsc.k12.in.us/board/

Sign petition:

http://www.noschoolbustax.com/

Scott Veerkamp preys on the public. Example: Kathy Hendricks

Please take time to review the information in this blog entitled:  "Fighting foreclosure fraud by sharing the knowledge." 

http://4closurefraud.org/2010/01/26/predatory-grizzly-bear-attacks-innocent-elderly-poor-minorities-disabled-disadvantaged-with-predatory-lending-scams-frauds/

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. 

http://libertymaven.com/2010/01/21/two-lame-duck-senators-quacking-against-ron-pauls-fed-audit-effort/8696/

myftef.org: Scott Veerkamp Owes Money

Re:  Scott Veerkamp / Franklin Township Education Foundation

Loan Steering.  The Center for Responsible Lending estimates that excessive interest rates cost families $2.9 billion each year.  CRL states:  "When a borrower loses a home to foreclosure, society pays the price in the drop in surrounding property values and LOST TAX REVENUES."

1. Here is the formula:  Yield Spread Premium and excessive interest rates = loss of tax revenues from mortgage defaults.  2. Clearly, this is one of the reasons for the lack of funding in our school systems.  3. I find it Ironic that Scott Veerkamp has not paid his taxes and FTCSC wants to sue the state over a "funding formula."  4. In other words, Scott wants taxpayers to pay for the lawsuit going in---and Scott feels no responsibility to pay his own taxes going out.  5. On a scale of 1-10 Scott Veerkamp's level of integrity is at ZERO.

Please note:  On November 5, 2010 Scott Veerkamp gave people the impression my complaints had "done nothing but strengthen his business."  If his business is strong, why does Scott owe $7,632 in back taxes?  In other words, Scott says his real estate business is STRONG going in---and Scott claims he can not afford to pay his taxes going out.  Does this "Bait and Switch" tactic sound familiar?

Please take time to review the articles below...

http://hadenoughindy.blogspot.com/2010/11/elected-officials-who-didnt-pay-their.html

http://jmb27.posterous.com/warning-letter-to-scott-veerkamp

http://www.wthr.com/story/12029420/growing-school-districts-suing-over-funding

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

REMAX International: Bait and Switch examples

Please take time to review 6 exhibits (below)...

REMAX International uses the following statements as "Bait":

1. "When a situation such as this is brought to our attention, we want you to know that we care and do what we can to try and assist in resolving problems."

2. "Since receiving your letter, I have forwarded a copy of it to REMAX of Indiana and have requested they look into the matter."

3. "We at REMAX International, believe that the REMAX network of offices and sales associates is the finest real estate organization in the world."

4. "It is our sincere hope that this matter can be amicably resolved."

5. "It is our further hope that all involved will learn from this experience and will have improved relationships and communications in the future."

6. "Your willingness to communicate your concerns to us is not only appreciated, but is extremely important to our organization."

7. "We are committed to finding better ways to serve the public..."

8. "Our excellent reputation is the result of a commitment on the part of each REMAX affiliate to provide the finest in professional real estate services."

The examples below represent the "Switch" from REMAX Central...

A. Standard of Practice 1-3 Violation in the NAR Code of Ethics.  B. Documentation of Predatory Lending with Yield Spread Premium.  C. False advertising in Christian Phone Book.  D. Scott refuses to conduct an "open house."  E. Scott attempts to sell my property on a land contract with a "due on sale clause."  F. REMAX Central removes my property from the MLS without my permission.  G. $26,000 profit when Scott "flipped" his REMAX Central listing at my expense.   

Conclusion:  The REMAX organization ignored all of my attempts to contact them for assistance.  This includes my attempts to contact them after Scott removed my property from the MLS on June 25, 2005.  To my knowledge, REMAX did nothing to prevent Scott Veerkamp from preying on the public with Yield Spread Premium. 

Download remax_intl_letter_1.pdf

Download Letter_to_REMAX_International.pdf