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  #19  
Old 08-01-2011, 10:44 AM
jmb27 jmb27 is offline
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Posts: 32
Re: Scott Veerkamp/MIBOR Scam

Please remember, Scott Veerkamp is a member of NAR: My information comes from the National Association of Realtors and the Center for Responsible Lending. They define the use of Yield Spread Premium as "Predatory Lending."

You have demonstrated your lack of knowledge about YSP with your response. Yield Spread Premium was banned ** the Federal Government because cosumers were being "steered" into high cost loans.

If you take time to read the news, you will see multiple lawsuits across the country regarding Loan Steering. It is important for you to EDUCATE yourself on this topic.

Please answer the following question: Does Loan Steering "protect and promote the interest of the client"?

The answer to this question is obvious. NAR and MIBOR are a SCAM...


Wells Fargo Loan Steering Lawsuit:
http://www.huffingtonpost.com/2011/07/26/wells-fargo-justice-department-probe_n_910425.html

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


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  #20  
Old 08-24-2011, 11:05 AM
jmb27 jmb27 is offline
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Franklin Township bus fees: Scott Veerkamp FTCSC

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 ** 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/

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  #21  
Old 10-12-2011, 10:51 AM
jmb27 jmb27 is offline
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Loan Steering: Kickbacks to Realtors

Re: Corporate GREED / Kickbacks to Realtors...

Members of the National Association of Realtors used Yield Spread Premium to receive kickbacks from lenders. Ask Realtors to return the kickbacks they collected on predatory loans.

The financial benefit of Yield Spread Premium belongs to the client...

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.

Sign petition:
http://www.change.org/petitions/nar-ask-realtors-to-return-kickbacks-from-predatory-lending?share_id=EVlIbDomYC&pe=d2e



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  #22  
Old 10-12-2011, 03:44 PM
jimb6387 jimb6387 is offline
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Posts: 143
Re: Loan Steering: Kickbacks to Realtors

Quote:
Originally Posted by jmb27 View Post
Re: Corporate GREED / Kickbacks to Realtors...

Members of the National Association of Realtors used Yield Spread Premium to receive kickbacks from lenders. Ask Realtors to return the kickbacks they collected on predatory loans.

The financial benefit of Yield Spread Premium belongs to the client...

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.

Sign petition:
http://www.change.org/petitions/nar-ask-realtors-to-return-kickbacks-from-predatory-lending?share_id=EVlIbDomYC&pe=d2e
Just an observation .. YSP are usually retained by the Mortgage Broker .. not the Real estate Broker. I'm a real estate broker of 20 yrs and have never heard of a real estate agent getting a YSP (not to say that doesn't happen).

The intended purpose of YSP is to have the lender pay the mortgage broker a broker fee when the borrower doesn't have cash to pay the broker fee. They are considered (generally) illegal when they are not disclosed (in which you would not find them in your HUD-1 settlement statement) or when they are paid IN ADDITION TO a broker fee paid in cash.
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You don't HAVE to be in foreclosure but you do have to owe more on the mortgage than the house is worth.
508-963-3024

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  #23  
Old 10-23-2011, 08:36 AM
jmb27 jmb27 is offline
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Predatory Lending and Kickbacks to Realtors

Re: Corporate GREED / Kickbacks to Realtors...

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. This HIGHER interest rate will cost you thousands of extra dollars over the life of the loan.

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  #24  
Old 11-02-2011, 11:24 AM
jmb27 jmb27 is offline
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Posts: 32
Scott Veerkamp: Franklin Township Bus Fees

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/

Lawsuit:
http://www.ibj.com/indiana-school-district-that-ended-bus-routes-faces-lawsuit/PARAMS/article/30512

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  #25  
Old 01-28-2012, 10:22 AM
jmb27 jmb27 is offline
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Posts: 32
Scott Veerkamp Received Kickbacks

Scott Veerkamp used Yield Spread Premium to receive kickbacks from lenders. Ask Scott to return the kickbacks he collected on predatory loans.

The financial benefit of Yield Spread Premium belongs to the client...

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.

The Center for Responsible Lending estimates excessive interest rates cost families $2.9 billion each year. Please take time to review the following information regarding Yield Spread Premium and Loan Steering...

YouTube Video: Yield Spread Premium...
http://www.youtube.com/watch?v=iPXsKygQSRc

YSP and 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

Predatory Lending and the National Association of Realtors:
http://www.zimbio.com/Exposing+Scams/articles/15VN_4Q6HLA/NAR+Predatory+Lending+Information

CRL: Seven Signs of Predatory Lending
http://www.zimbio.com/Exposing+Scams/articles/AKevJQHWOKO/Center+Responsible+Lending+Seven+Signs+Predatory

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  #26  
Old 01-30-2012, 03:08 PM
jmb27 jmb27 is offline
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Scott Veerkamp Real Estate Complaint

Scott Veerkamp is a Predatory Broker. Scott used Yield Spread Premium to receive kickbacks on predatory loans.

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  #27  
Old 03-15-2012, 03:46 PM
jmb27 jmb27 is offline
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Scott Veerkamp Enters The Hall Of SHAME

Have you ever known anyone that deliberately searches for a HIGHER interest rate when they want to borrow money? This is what Scott Veerkamp was doing with Yield Spread Premium.

He was helping his clients search for a HIGHER interest rate so he could receive a "kickback" on their loan.

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  #28  
Old 04-01-2012, 02:05 PM
jmb27 jmb27 is offline
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Scott Veerkamp Complaint: HIGH FEES

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 1 and 2.pdf Download this file

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

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  #29  
Old 05-04-2012, 03:42 PM
jmb27 jmb27 is offline
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Posts: 32
Scott Veerkamp Real Estate POOR Service

Scott Veerkamp has the worst customer service I have ever experienced. Scott refused to drive (one block) to conduct an open house on my property.

His agency uses Bait and Switch tactics on the public. This includes Predatory Lending and false advertising.

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  #30  
Old 06-23-2012, 12:52 PM
jmb27 jmb27 is offline
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Posts: 32
Lyn Wuethrich: MIBOR Ripoff Alert

Lyn Wuethrich is a member of the Metropolitan Indianapolis Board of Realtors. Lyn was informed about Scott Veerkamp's deception with documentation delivered by email.

To my knowledge, Lyn has done nothing to prevent Scott from preying on consumers with false advertising and deception. Please review this summary of events regarding Scott Veerkamp (NAR)...

1. Scott engages in Predatory Lending with Yield Spread Premium and excessive fees. This is documented on the settlement statements in the link below. Click on Fullscreen in the upper left hand corner of each document. (You will need to scroll to see these documents).
http://jmb27.posterous.com/mortgage-documents-1-and-2

2. Scott refuses to show the property. He refuses to drive (one block) to conduct an open house. (This is documented in the "record of property shown" receipts from MIBOR).
http://jmb27.posterous.com/scott-veerkamp-refuses-to-conduct-an-open-hou

3. After 8 months of refusing to show the property, Scott attempts to sell the property on a land contract with a "due on sale clause." (This is documented with a letter from Chris Moore and a Letter from GMAC Mortgage).
http://jmb27.posterous.com/scott-veerkamp-the-land-contract-scam

4. Scott removes my property from the MLS after I file a complaint with MIBOR. (Please review the document from MIBOR in the link below).
http://jmb27.posterous.com/scott-veerkamp-removes-my-property-from-the-m-10511

5. Scott flips his own listing for a $26,000 profit. This is documented with the purchase agreement and selling price of the property. (You will need to scroll to see these documents).
http://jmb27.posterous.com/scott-veerkamp-flips-his-own-listing

6. Scott refers to himself as a Christian Super Servant. He believes he is dedicated to "keeping the interest of his clients above all else." (This is documented on Scott Veerkamp's website in the link below).
http://jmb27.posterous.com/scott-veerkamp-refers-to-himself-as-a-christi

7. Scott receives a warning letter from the office of the Indiana Attorney General. (This is documented with a letter I received from their office).
Warning Letter.pdf (51 KB)

8. Here is a copy of the response from Scott Veerkamp. (This is documented on a blog from ripoff report).
http://jmb27.posterous.com/here-is-a-copy-of-the-response-from-scott-vee

9. The MIBOR promise...
http://jmb27.posterous.com/the-mibor-promise

10. Comparative Market Analysis

I had to go to an independent real estate agent to get Comparative Market Analysis on the 8202 Eaton Court property. CMA shows an average selling price of $82 per square foot in this neighborhood. The square footage on the 8202 property is 1,420. Scott attempted to sell the property to Chris Moore for $145,000.

Please review Standard of Practice 1-3 in the Code of Ethics before analyzing the following information...


Comparative Market Analysis.pdf
Land Contract Information.pdf

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  #31  
Old 07-25-2012, 03:22 PM
jmb27 jmb27 is offline
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Posts: 32
Scott Veerkamp Real Estate SCAM Warning

Please review this summary of events regarding Scott Veerkamp (NAR)...

1. Scott engages in Predatory Lending with Yield Spread Premium and excessive fees. This is documented on the settlement statements in the link below. Click on Fullscreen in the upper left hand corner of each document. (You will need to scroll to see these documents).
http://jmb27.posterous.com/mortgage-documents-1-and-2

2. Scott refuses to show the property. He refuses to drive (one block) to conduct an open house. (This is documented in the "record of property shown" receipts from MIBOR).
http://jmb27.posterous.com/scott-veerkamp-refuses-to-conduct-an-open-hou

3. After 8 months of refusing to show the property, Scott attempts to sell the property on a land contract with a "due on sale clause." (This is documented with a letter from Chris Moore and a Letter from GMAC Mortgage).
http://jmb27.posterous.com/scott-veerkamp-the-land-contract-scam

4. Scott removes my property from the MLS after I file a complaint with MIBOR. (Please review the document from MIBOR in the link below).
http://jmb27.posterous.com/scott-veerkamp-removes-my-property-from-the-m-10511

5. Scott flips his own listing for a $26,000 profit. This is documented with the purchase agreement and selling price of the property. (You will need to scroll to see these documents).
http://jmb27.posterous.com/scott-veerkamp-flips-his-own-listing

6. Scott refers to himself as a Christian Super Servant. He believes he is dedicated to "keeping the interest of his clients above all else." (This is documented on Scott Veerkamp's website in the link below).
http://jmb27.posterous.com/scott-veerkamp-refers-to-himself-as-a-christi

7. Scott receives a warning letter from the office of the Indiana Attorney General. (This is documented with a letter I received from their office).
Warning Letter.pdf (51 KB)

8. Here is a copy of the response from Scott Veerkamp. (This is documented on a blog from ripoff report).
http://jmb27.posterous.com/here-is-a-copy-of-the-response-from-scott-vee

9. The MIBOR promise...
http://jmb27.posterous.com/the-mibor-promise

10. Comparative Market Analysis

I had to go to an independent real estate agent to get Comparative Market Analysis on the 8202 Eaton Court property. CMA shows an average selling price of $82 per square foot in this neighborhood. The square footage on the 8202 property is 1,420. Scott attempted to sell the property to Chris Moore for $145,000.

Please review Standard of Practice 1-3 in the Code of Ethics before analyzing the following information...


Comparative Market Analysis.pdf

Land Contract Information.pdf

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  #32  
Old 08-15-2012, 03:17 PM
jmb27 jmb27 is offline
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Scott Veerkamp Real Estate: BEWARE of Scams and Ripoffs

The Center for Responsible Lending says YSP "steals equity from struggling families." NAR members have hurt consumers with kickbacks on predatory loans. Please ask Scott Veerkamp to stop scamming the public with "Bait and Switch" tactics. Clearly, inflated interest rates do not "protect the interest of the public."

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  #33  
Old 02-09-2013, 09:01 AM
jmb27 jmb27 is offline
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Scott Veerkamp Real Estate: SHADY

Here is additional information regarding Predatory Lending, excessive fees, and junk fees...

In a previous post, I made reference to "junk fees" on the mortgage documents. After reviewing these documents, it is obvious Scott Veerkamp felt comfortable charging junk fees to the public.

Here are some examples: 1. $960 application fee 2. $500 processing fee 3. $250 document preparation fee 4. $35 electronic filing fee 5. $50 courier fee

I can assure you, the following statements are true: (a) Junk fees do not "protect and promote the interest of the client." (b) These fees do not "keep the interest of the client above all else." (c) In reality, Scott was "making up" junk fees to "protect the interest of his bank account."

Please review this article from CNN Money regarding junk fees...

http://money.cnn.com/2006/02/13/real_estate/closingcosts2_money_0603/index.htm

You can review Scott Veerkamp's mortgage documents here:

http://narrealtorbaitandswitchblog.blogspot.com/2011/12/mortgage-documents-1-and-2.html

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.

Please review this article from CNN Money regarding application fees...

http://money.cnn.com/2007/07/24/real_estate/salesman_factor.moneymag/index.htm


Here is documentation of false advertising by Scott Veerkamp:

http://narrealtorbaitandswitchblog.blogspot.com/2011/02/scott-veerkamp-false-advertising.html


As I mentioned earlier, Scott has chosen an interesting title for his response: "The Truth Will Set You Free." I believe the following title would be more appropriate: "The Truth Is In His Fees." (Yield Spread Premium and Junk Fees)


Here is a copy of Scott Veerkamp's response. As you will see, he has no documentation to support his statements. Scott has no evidence to present because his response is loaded with lies...

http://narrealtorbaitandswitchblog.blogspot.com/2012/06/here-is-copy-of-response-from-scott.html

Do you think REMAX discontinued Scott's franchise agreement because they got tired of reviewing complaints against him? I feel certain REMAX was embarrassed by the number of complaints filed against him for false advertising and loan steering.

NAR: How to Avoid Predatory Lending
http://narrealtorbaitandswitchblog.blogspot.com/2013/01/nar-how-to-avoid-predatory-lending.html



The Center for Responsible Lending: Seven Signs of Predatory Lending

http://narrealtorbaitandswitchblog.blogspot.com/2013/01/the-center-for-responsible-lending.html










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  #34  
Old 02-09-2013, 09:06 AM
jmb27 jmb27 is offline
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Scott Veerkamp Real Estate: EXPOSED

Please take time to review the following information...

I was misrepresented by Scott Veerkamp on my mortgage transaction. Scott had the property set up with a 12 month occupancy agreement when he listed the property.


When you look at Scott's response, he confirms the property is set up for a "flip." A Realtor can not flip a property with a 12 month occupancy agreement.


This is the reason Scott refused to show the property. In addition, this is the reason he refused to conduct an open house.


If Scott sold the property quickly, he would have to answer questions from the lender about violating the occupancy agreement. This is the reason he tried to sell the property on contract. As I said before, there is no mortgage on a land contract. If Scott sold the property on contract, only 3 people would know: 1. Myself 2. Scott 3. Chris Moore


GMAC would not know the property was sold on contract unless I contacted them to get permission. When you review the letter, it is clear GMAC is saying the property can not be sold on contract.


I know this sounds strange. However, the following statement is true: Scott listed a property HE COULD NOT SELL without violating the occupancy agreement.


Please remember: Scott received a WARNING letter from the office of the Indiana Attorney General. This government agency never blamed me for any issues relating to the transaction.


Here are 5 key points to review about the transaction...


1. It does not matter if I lived in the property.


2. It does not matter if the property was vacant.


3. Either way, Scott COULD NOT SELL the property without violating the terms of the occupancy agreement.


4. This is the reason he refused to show the property.


5. In the end, I met the financial requirements of the occupancy agreement. I made all the payments required over the 12 month period. In addition, I made all of my payments on time. For this reason, I did not have anyone from a government agency express concern about the occupancy agreement on my behalf. As many people do, I signed a stack of documents "one inch thick" at closing. I do not remember much about the details of the documents.


Please note: Scott had his mortgage license revoked by the office of the Indiana Secretary of State's Security Division. I do not know the reason his license was revoked. However, here is my documentation...


Mortgage license revoked:
http://narrealtorbaitandswitchblog.blogspot.com/2011/02/scott-veerkamp-alm-group-documentation.html


Here is the reason Scott could not show (or sell) the property...
http://narrealtorbaitandswitchblog.blogspot.com/2012/09/occupancy-agreement.html


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