MFI-Miami Blog

Ginnie Mae Gives NewDay USA and Nations Lending The Boot After Accusations Of VA Loan Churning Ginnie Mae is following through with its threats to punish lenders for aggressively targeting servicemembers and military veterans. The GSE   threatened  lenders with expulsion from its primary mortgage bond program if the lenders do not address their abnormally high complaints of predatory lending and churning. Servicemembers and retirees have been complaining about high-pressure sales tactics for years. Bloomberg  reports that the GSE has booted NewDay USA and Nations Lending   from its primary mortgage bond program: NewDay USA and Nations Lending Corp. have been restricted effective this week from issuing Ginnie Mae bonds that are intermingled with loans from other lenders. Read more at MFI-Miami

Lackey For Doctor Who Doppelganger Tom Rosicki Uses Harvey Weinstein Pal To Bully MFI-Miami Doctor Who Doppelganger and foreclosure mill operator Tom Rosicki I got an email from foreclosure mill operator and Doctor Who Doppelganger Tom Rosicki’s public relations firm on Saturday. I received the email within two hours after posting an article about how Rosicki’s firm, Rosicki, Rosicki and Associates has been  accused of ripping off Fannie Mae .  The email came from high powered Manhattan-based  Hiltzik Strategies.  It strongly suggested I add a statement from Tom Rosicki into the article. Hiltzik’s office also called my office twice on Monday when I was in court and they also sent me two more emails. I never responded. Besides, I have more important things to do than to help save the ass of one of my New York adversaries. Besides, I got screwed over the last time I did a favor for a foreclosure mill Matthew Hiltzik was a mover and shaker in the New York...

CFPB Director Mick Mulvaney Who Once Called The Agency A “Sad Joke” Wants Congress To Dictate CFPB Policy CFPB Mick Mulvaney continued his push to  eliminated the power  and influence of a federal agency that he  once called  a “sick, sad joke.” He asked Congress Monday to significantly increase its oversight of the Consumer Financial Protection Bureau. CFPB policy would then be based on the flakey political whims of 535 members of Congress. The CFPB issued its first semi-annual report to Congress since Mulvaney  took over  as acting director of the agency last year. Mick Mulvaney asked Congress to enact four major reforms that would considerably cut the CFPB’s independence: The Bureau is far too powerful, with precious little oversight of its activities. The power wielded by the Director could all too easily be used to harm consumers, destroy businesses, or arbitrarily remake American financial markets. I’m requesting that Congress m...

Disney Cruise Ship Employee Busted For Embezzling $260,000 From The Walt Disney Company Disney Cruise Ship employee Renan Dias Da Rocha Gomes was sentenced to 15 months in prison for wire fraud. Gomes operated a scheme that  embezzled more than $260,000  from  The Walt Disney Company . The  FBI  and  Homeland Security Investigations  arrested Gomes on October 27, 2017. Federal agent arrested him when the Disney Wonder cruise ship made port in San Diego, California. Gomes admitted that he was employed as a merchandise host on the  Disney Wonder from 2015 until 2017. Gomes admitted to fraudulently obtaining money through the cruise ship’s online payment system. The Disney cruise ship employee made approximately $260,000 in unauthorized charges to Disney’s bank account. He then loaded the value of the funds onto Disney gift cards. Investigators found approximately 217 gift cards, a stolen watch, and $1,240 in cash. Read more at MFI-Mia...

Actor And Rapper DMX Sentenced To One Year In The Slammer For Dodging $1.7 Million In Taxes DMX’s mugshot from his February 2013 arrest for driving without a license Earl Simmons is also known as actor and rapper DMX was sentenced to one year in federal prison for tax fraud. The charges are in connection with  evading the payment of income taxes  from 2010 through 2016. Simmons avoided paying $1.7 million of taxes. U.S. Attorney Geoffrey S. Berman said: Earl Simmons stole from the American taxpayers when he earned millions of dollars but failed to pay any taxes on his income.  Today’s sentence shows that star power does not entitle people to a free pass. According to the Indictment and statements made in open court: DMX earned millions from musical recordings and performances from 2002 through 2005. The rapper had federal income tax liabilities of approximately $1.7 million.  Those liabilities went unpaid and the IRS began efforts to collect the m...

New York Foreclosure Mill Rosicki, Rosicki & Associates Accused Of Scamming Fannie Mae  FBI agent turned foreclosure mill operator Tom Rosicki New York foreclosure mill Rosicki, Rosicki & Associates allegedly used its affiliated companies to systemically  overcharge Fannie Mae for foreclosure-related services . The Department of Justice alleges the firm defrauded Fannie Mae   out of millions of dollars. The DOJ alleges the firm   engaged in a scheme with two of its wholly-owned affiliates to markup foreclosure services. The complaint also alleges the firm overcharged Fannie Mae by as much as 750%. The two wholly-owned subsidiaries are Enterprise Process Service and Paramount Land. The law firm specializes in foreclosures and executes foreclosures in New York. The two founding partners of the firm own and control both Enterprise and Paramount. Enterprise handles the process serving and Paramount is their title search company. ...

New Jersey And Other States Start State Level CFPB  Agencies Several states have announced they are launching state level CFPB agencies. This is in response to CFPB Acting Director Mick Mulvaney’s memo laying out his vision for the CFPB. The memo was obtained by investigative journalism nonprofit  ProPublica .  Mick   Mulvaney was forced to respond with an editorial in the  Wall Street Journal.   Mulvaney wrote that the bureau will be a much kinder and gentler agency toward banking under his watch. Mulvaney wrote that the CFPB: …bringing the full weight of the federal government down on the necks of the people we serve should be something that is only done reluctantly. Mulvaney’s mission statement and the CFPB’s  recent move  to reconsider agency functions concerns consumer advocates. As a result, they wonder how much consumer protection the Consumer Financial Protection Bureau will be engaging in going forward. The Ne...