MFI-Miami Blog

REVERSE MORTGAGE SOLUTIONS SCAM ALERT! Reverse Mortgage Solutions Targets Seniors For Foreclosure!  MFI-Miami has issued a Reverse Mortgage Solutions Scam Alert! It seems like Reverse Mortgage Solutions is pulling a reverse mortgage scam on unsuspecting seniors with Reverse Mortgage. They are showing no shame in doing it either.  Reverse mortgages are great because they give seniors who are house rich and cash poor needed cash.  Local taxes and any HOA fees  are still the responsibility of the homeowner. Servicers can and will foreclosure if the taxes are not paid. Reverse mortgages are great for most seniors. Unfortunately, reverse mortgage servicing companies like RMS have figured out how to cash in by screwing equity-rich seniors with Reverse Mortgages. Read more at MFI-Miami

Deutsche Bank Executive Who Signed Off On Trump Loans Found Dead In His Malibu Home From Apparent Suicide Thomas Bowers, a former Deutsche Bank executive and head of the American wealth-management division, killed himself in Malibu, California, on Tuesday, November 19th, according to the Los Angeles County coroner’s initial report. Bowers has three adult children. He was widowed in 2017. He reportedly  became engaged this summer  to a longtime Malibu local he had known since childhood. According to our sources, the two broke up shortly before Bowers committed suicide. Read more at MFI-Miami

Embattled Wells Fargo Bank Busted For Overcharging Monthly Service Fees To Account Holders It seems as if embattled  Wells Fargo  Bank never learns. The embattled bank expects to refund some customers for monthly account  service fees  due to “confusion” over how to qualify to have the fees waived.  The  bank  hasn’t disclosed how many customers might be affected by the issue. They also have not disclosed how much money will be refunded. However, the company mentioned the potential refunds to rebuild customer trust. Wells Fargo has been beset by a series of embarrassing and costly scandals. Representative Katie Porter (D-CA) publicly shared a letter to Wells Fargo CEO Charles Scharf. She asked the company to share the extent of the service fee problem. Porter says the bank may have collected hundreds of millions of dollars in service fees on its Everyday Checking accounts. Read more at MFI-Miami

Long Island Ponzi Scheme Victims Get Their Money Back From Ponzi Schemers Matthew Eckstein and Kevin Brody Prosecutors and Long Island Ponzi scheme victims say Matthew Eckstein and Kevin Brody took a page from Bernie Madoff’s playbook. They bilked nearly 50 victims of more than $12 million. Now, two Long Island Ponzi scheme victims who were swindled in the  Ponzi scheme  are getting some of their money back. One victim was retiree Laura Albergo: He duped me and scammed me. He used to come to my house. I trusted him. I met his kids, I met his wife. Read more at MFI-Miami

Former Deutsche Bank Executive Ordered To Pay $500,000 To Settle Claims Relating To RMBS Fraud Deutsche Bank Headquarters in Frankfurt, Germany Federal Prosecutors have reached an agreement with former Deutsche Bank executive Paul Mangione. Federal prosecutors and Mangione settled a civil action filed in September 2017. Mangione was a former Managing Director and head of subprime trading at Deutsche Bank. The federal government sought civil penalties for Mangione’s conduct with Deutsche Bank’s marketing and sale of two residential mortgage-backed securities (RMBS) in 2007.  The agreement also provides for payment of $500,000 in civil penalties in exchange for dismissal of the complaint. Read More At MFI-Miami

Boston Tourist Discovers Manhattan AirBNB Turned Is  NYCHA Tenement Housing With Roach Motel The Manhattan AirBNB also had its own roach motel next to the guest bed. Boston tourist Rachel Valerio thought her $90-a-night Manhattan Airbnb was a good deal. However, she soon discovered she had booked an apartment in a New York City Housing Authority complex. The apartment was  reportedly highly rated  on Airbnb in Chelsea. Valerio said  the unit smelled like gas . She also said there were roach traps next to the bed. Valerio discovered a plus. The Manhattan AirBNB was next door to the High Line and Chelsea Market. Valerio states she saw the letters N-Y-C-H-A in the lobby.  However, she did not know what they stood for. When she unpacked, she did an internet search. She soon discovered that it stood for the maligned public housing agency. Read More At MFI-Miami

South Florida Foreclosure Alert! South Florida Foreclosures Spike By 109 Percent! Only 2 other Markets Rank Higher SOUTH FLORIDA FORECLOSURE ALERT!  ATTOM Data Solutions  is reporting that nationwide foreclosure filings are skyrocketing by double digits. They have increased 13% month over month in October. This is also the highest level of 2019. ATTOM Data Solutions’ latest U.S. Foreclosure Activity Report does not paint a very pretty picture for south Florida namely the Miami-Fort Lauderdale-Palm Beach market. Foreclosure starts also rose monthly in 36 states. In addition, this also marks the first double-digit month-over-month increase since February 2018. The metro of Minneapolis-St. Paul market saw the highest increase in foreclosure starts in October. They surged 189% month over month. Foreclosures in the Cincinnati, Ohio-Kentucky-Indiana market skyrocketed 111%. This was followed by  Miami-Fort Lauderdale-West Palm Beach which saw a 109% spike. Read More At MFI-Miami

Federal Prosecutors Accuse Loss Mitigation Services Of Defrauding HUD, Fannie Mae, and Freddie Mac The owners and co-founders of Loss Mitigation Services are accused of defrauding Fannie Mae, Freddie Mac, and HUD.  Federal prosecutors  allege the Massachusetts based short sale company defrauded government agencies on nearly 100 short sale transactions.  Loss Mitigation Services negotiates with lenders and mortgage guarantors approval of short sales in lieu of foreclosure. A short sale occurs when the mortgage debt on the home is greater than the sale price. As a result, the lender or mortgage owner agrees to take a loss on the transaction. Prosecutors allege company founders Gabriel Tavarez and Jaime Mulvihill collected fees for acting on behalf of underwater homeowners. Read More At MFI-Miami

Carrington Mortgage Services Warning! Can Carrington Mortgage Validate Your Mortgage Debt? Probably Not! Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm  MFI-Miami , announced today that  MFI-Miami  has discovered serious flaws in the way Carrington Mortgage Services validates debt owed by homeowners. As a result, MFI-Miami has issued a Fay Mortgage Services Warning to homeowners.  MFI-Miami CEO Steve Dibert: Homeowners need to request their complete mortgage transaction histories from Carrington Mortgage Services and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately! MFI-Miami  has examined nearly 50 transaction histories from mortgage loans currently serviced by Carrington since 2015. Nearly 30 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners

National Association Of Realtors Bans Pocket Listings The National Association of Realtors has officially banned the use of pocket listings. The NAR board of directors voted 729-70 on Monday to ban the controversial practice. The NAR stated the practice was controversial because it allowed agents to select who the property is sold to. Pocket listings were surging in competitive  markets  in overpriced markets like New York, San Francisco, Los Angeles and Washington D.C. A listing agent to use the MLS service to let select realtors know the property was for sale. Realtors would usually list it with code words or with an informal “coming soon” notice. This also allowed them to avoid officially sharing the listing and often retaining a full commission. Read more at MFI-Miami

Fay Servicing Warning! Can Fay Servicing Validate Your Mortgage Debt? Probably Not! Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm  MFI-Miami , announced today that  MFI-Miami  has discovered serious flaws in the way Fay Servicing validates debt owed by homeowners. As a result, MFI-Miami has issued a Fay Servicing Warning to homeowners.  MFI-Miami CEO Steve Dibert: Homeowners need to request their complete mortgage transaction histories from Fay Servicing and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately! MFI-Miami  has examined nearly 50 transaction histories from mortgage loans currently serviced by Fay Servicing since 2015. Nearly 30 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. Additionally, MFI-Miami’s team

The Fay Servicing Hotline Arms You With The Firepower To Fight A Fay Servicing Foreclosure!  MFI-Miami’s Fay Servicing Hotline gives you the ultimate weapon in fighting a Fay Servicing foreclosure! MFI-Miami  has created a Fay Servicing Hotline to put you in touch with our Fay Servicing foreclosure defense team. The team’s focus is solely on helping homeowners develop strategies to fight Fay Servicing!  We are also the only foreclosure and mortgage experts with the strength to successfully challenge Fay Servicing. Our competitors show off one or two victories against Fay Servicing. They can’t beat our track record. How do we know this? We have the  10-year track record  to prove it!  MFI-Miami’s  Fay Servicing foreclosure defense team is Fay Servicing’s worst nightmare. Why?  MFI-Miami  has successfully challenged some of their most arrogant foreclosure mill lawyers. Read more at MFI-Miami

Former Wells Fargo Banker Pleads Guilty for Helping Fake Movie Producers A former Wells Fargo banker pled guilty today for his involvement in a fake $60 million movie producing scam. Benjamin Rafael  admitted his role in the sophisticated fraud scheme  during a change-of-plea hearing. Rafael pleaded guilty to one count of conspiracy to commit wire fraud. Rafael faces a maximum possible sentence of twenty years in prison. The former Wells Fargo banker assisted Benjamin McConley and Jason Van Eman who held themselves out as film producers and financiers. The indictment charges that McConley and Van Eman promised the victims that they would match the victims’ cash contribution.  As a result, they would then use the combined funds to secure financing from financial institutions in South Florida and elsewhere. Read more at MFI-Miami

Angry TD Bank Customers File Class Action Lawsuit Against Canadian Owned TD Bank Over Excessive Overdraft Fees  If you are one of the many angry TD Bank customers who incurred overdraft fees you may be  getting some money . The bank has a tentative settlement with angry TD Bank customers. The $70 million settlement includes anyone who suffered an overdraft fee with TD Bank and its subsidiaries. Plaintiffs also named TD Bank subsidiaries Carolina First Bank and Mercantile Bank. Plaintiffs allege TD Bank assessed overdraft fees in violation of its customer account agreements and applicable laws. Read more at MFI-Miami

Yacht Debt Solutions Is A New Concept In Restructuring Yacht Debt! MFI-Miami’s Yacht Debt Solutions can save you money on your yacht loan! How? We can restructure your yacht debt with a yacht debt modification. It’s smooth sailing with a yacht debt modification! Anyone who owns a yacht knows yachts depreciate 50% in value the minute you put it in the water. So, before you can even enjoy the ocean mist on your face, you’re already upside down on your yacht loan.  But it doesn’t have to be that way. You can go out on your yacht and enjoy the water. A yacht modification can also increase your monthly margins with a yacht modification if you charter your yacht.  You don’t have to worry about your yacht as an endless money pit. Or worry about your lender repossessing it.  Read More At MFI-Miami

The Raunchy Realtor Part 2: Scott Adlhoch’s Harem Of Whiny Women Keep Contacting MFI-Miami In February 2017, the Raunchy Realtor of Detroit, Scott Adlhoch was in trouble. He was facing disciplinary action by both the Michigan Association of Realtors and the Michigan Attorney General. Adlhoch let his little head do the thinking for his head. Thus, this is what got him in trouble. He and his then mistress, Aline Ermanni were meeting up for the trysts at homes of Adlhoch’s real estate clients. Unfortunately, the randy duo left more than a pair of Ermanni’s panties behind at several homes. Shocked homeowners came home to find “love stains” like the  Mark of Zorro  in several rooms of their posh homes.  One of Adlhoch’s clients in the posh Detroit suburb of Grosse Pointe put this way,  “Adlhoch put the “gross” into the Grosse Pointes” Multiple media outlets posted the story. Once the story went viral, there was no way Adlhoch and Ermanni could contain it. Ermanni played the wou

David Burt Predicts Climate Change Will Break The Housing Market  If you’re a fan of the “Big Short”, you know who David Burt is. He’s the guy who timely predicted the housing market crash in 2008. Now  he’s predicting  the housing market is at risk of underestimated climate change. He claims it echoes lessons from the 2008 subprime-mortgage debacle. Burt makes a climate change and subprime lending connection in a recent interview with Vice: There’s a lot of parallels, it’s a big real estate mispricing issue. At its core that presents a lot of the same risks. A lot of real estate is massively overpriced and there’s a lot of risks associated with it. The big risk is another foreclosure crisis. Now, it’s a very different dynamic that’s creating the mispricing. But actually magnitude-wise it looks pretty similar, maybe even bigger. Read more at MFI-Miami

Boat Loan Solutions Is A New Idea In Restructuring Boat Debt! MFI-Miami's Boat Loan Solutions can save you a boatload of money on your boat loan! How? We can restructure your boat loan with a boat loan modification. Anyone who owns a boat knows boats depreciate 50% in value the minute you put it in the water. So, before you can even enjoy the ocean mist on your face, you're already upside down on your boat loan. That's why the two happiest days of a boat owner's life are the day he buys the boat and the day he sells the boat.  But it doesn't have to be that way. You can go out on your boat and enjoy the water. Or you can also fish or be like Tom Vu and use it to host bikini babes. You don't have to worry about the boat being an endless money pit. Or worry about your lender repossessing it. The reality is the lender doesn't want your boat. They're lenders. Asa result, they want your payments. If they repossess the boat, they are goin

Caliber Home Loans Warning! Can Caliber Home Loans Validate Your Mortgage Debt? Probably Not! Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm  MFI-Miami , announced today that  MFI-Miami  has discovered serious flaws in the way Caliber Home Loans validates debt owed by homeowners. As a result, MFI-Miami has issued a Caliber Home Loans Warning to homeowners.  MFI-Miami CEO Steve Dibert: Homeowners need to request their complete mortgage transaction histories from Caliber Home Loans and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately! MFI-Miami  has examined nearly 50 transaction histories from mortgage loans currently serviced by Caliber Home Loans since 2015. Nearly 30 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. A

Former Hasidic Leader of Central United Talmudic Academy Sentenced to 24 Months in Federal Prison for School Meals Fraud Scheme The federal court in Brooklyn sentenced the former Hasidic leader of the Central United Talmudic Academy to 24 months imprisonment. The court also sentenced him to 1,000 hours of community service. The court also ordered Elozer Porges to pay $3.2 million in restitution to the United States Department of Agriculture. In addition, he also has to pay a fine of $150,000 fine. The federal court found Porges guilty for his leadership role in a multi-million dollar school meals fraud.  The United States Attorney’s Office for the Eastern District of New York, the FBI and the USDA-OIG announced the sentence: Porges now stands convicted and sentenced as a felon for abusing his position to defraud government programs and steal millions of dollars in taxpayer funds designated to feed needy children. Such criminal conduct will not go unpunished. Read more

The CENLAR Hotline Arms You With The Firepower To Fight CENLAR Foreclosures! Call 888.737.6344 MFI-Miami has created a CENLAR Hotline to put you in touch with our CENLAR foreclosure defense team. The team’s focus is solely on helping homeowners develop strategies to fight CENLAR!  We are also the only foreclosure and mortgage experts with the strength to successfully challenge CENLAR. Our competitors show off one or two victories against CENLAR. They can’t beat our track record. How do we know this? We have the  10-year track record  to prove it!  MFI-Miami’s CENLAR hotline and foreclosure defense team is CENLAR’s worst nightmare. Why? MFI-Miami has successfully challenged some of their most arrogant foreclosure mill lawyers. Read more at MFI-Miami

The Citimortgage Hotline Arms You With The Firepower To Fight Citimortgage Foreclosures! Call 888.737.6344 MFI-Miami  has created a Citimortgage Hotline to put you in touch with our Citimortgage foreclosure defense team. The team’s focus is solely on helping homeowners develop strategies to fight Citimortgage!  We are also the only foreclosure and mortgage experts with the strength to successfully challenge Citimortgage. Our competitors show off one or two victories against Citimortgage. They can’t beat our track record. How do we know this? We have the  10-year track record  to prove it!  MFI-Miami’s  Citimortgage hotline and foreclosure defense team is Citimortgage’s worst nightmare. Why? MFI-Miami has successfully challenged some of their most arrogant foreclosure mill lawyers. The Citimortgage Hotline Can Help You Save Your Home! Call 888.737.6344 Today MFI-Miami CEO Steve Dibert has also developed a reputation for staring down the Wall Street banks. He has eve