• Report: #280041

Complaint Review: AMC, Ameriquest, James Brantley Also Bear Stearns / EMC Mortgage

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  • Submitted: Sat, October 20, 2007
  • Updated: Mon, October 29, 2007

  • Reported By:Plano Texas
AMC, Ameriquest, James Brantley Also Bear Stearns / EMC Mortgage
Ameriquest Mortgage, 1100 Town And Country Rd, Orange, California, 92868 Orange, California U.S.A.

AMC, Ameriquest, James Brantley Also Bear Stearns / EMC Mortgage Intentional fraud and *theft* by James Brantley of AMC Mortgage Orange California

*Consumer Comment: Keep Trying Ed, Maybe some day the Gov or DOJ will do their JOB! Looking for Mike Moore...

*Author of original report: Wachovia sues Ameriquest (James Brantley's former mortgage scam machine) re noncompliance on fraudulent loans

*Author of original report: AMC/Ameriquest quietly folding..

*Author of original report: AMC/Ameriquest quietly folding..

*Author of original report: AMC/Ameriquest quietly folding..

*Author of original report: AMC/Ameriquest quietly folding..

*Author of original report: Update on Ameriquest/AMC fraud and also more lies from Bear Stearns and EMC

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10-20-07

Bear Stearns / EMC Mortgage Services
Lewisville Texas, copied to Ameriquest/ACC/AMC and James Brantley of AMC

Re: Correction of the $1,000 that I mistakenly itemized as Interest Only rather than the intended Principal Only.


Dear Ms. Edna Wiley:
Thursday I had what I feel was a productive call from a competent as well as patient (good listener) by the name of Delores in your office on the above subject. Although the payment was mailed well in advance, AMC held it until May 3, 2005. A common practice although I noticed for the first time my EMC monthly payment for November was processed October 17 even though I mailed it October 15, 2007. Perhaps this is a good faith sign. Although Greg Fedler has repeatedly claimed the misapplied $1,000 has already been credited to your account effective May 2005 the records dont lie. As I told Delores I need the misapplied $1,000 applied correctly and I need a *correct* 2005 IRS 1098 form showing the corrected amount of interest I paid in 2005 in order to file my taxes.

James Brantley of AMC mortgage attempted to intentionally defraud and *steal* the $1,000 for AMC. He then sold our note to EMC mortgage without telling them of the misapplication. Senior Legal Counsel Eileen Rubens of ACC acting on behalf of the defunct AMC corporate hull denies responsibility and like Greg Fedler of BSC, neither can produce any records that the $1,000 was refunded because it never was.

Ed ****
(((redacted)))

Ed
Plano, Texas
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 10/20/2007 10:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/AMC-Ameriquest-James-Brantley-Also-Bear-Stearns-EMC-Mortgage/Orange-California-92868/AMC-Ameriquest-James-Brantley-Also-Bear-Stearns-EMC-Mortgage-Intentional-fraud-and-th-280041. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 7Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Keep Trying Ed, Maybe some day the Gov or DOJ will do their JOB! Looking for Mike Moore...

AUTHOR: Markanna - (U.S.A.)

I have asked AG TOM MILLER for help...and Greg Abbott. I'm looking for Mr. Moore.

Not 007 Roger Moore, NOT Mike Moore, But former AG Michael Moore.

Check out Youtube ''I Love Subprime'' or ameriquest sucks tour.

Good Luck To all of US!
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#2 Author of original report

Wachovia sues Ameriquest (James Brantley's former mortgage scam machine) re noncompliance on fraudulent loans

AUTHOR: Ed - (U.S.A.)

- - - - - - -
"Wachovia Bank N.A. has filed a lawsuit against Ameriquest Mortgage Co. alleging the former subprime lender has not complied with repurchase requests on loans with fraudulent files.
Wachovia sued the Orange, Calif.-based company for failure to repurchase 135 nonperforming mortgages that Ameriquest sold to Wachovia on Dec. 29, 2005.

The nonperforming loans included "incorrect credit scores, false employment status and misstatements of the kind of home being financed," Wachovia alleges in its complaint."
- - - - - - -
Submitted by
Ed Cage
(((ROR REDACTED)))

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#3 Author of original report

AMC/Ameriquest quietly folding..

AUTHOR: Ed - (U.S.A.)

Citi takes the astonishing step of hiring James Brantley, infamous mortgage fraud perpetrator and predator who was in large part responsible for the Ameriquest/AMC judgment of an est. $400 million including attorneys fees and associated costs.

Brantley is well known in mortgage fraud circles as a ruthless liar who will stop at nothing to cheat both associates (EMC for one), customers by the thousands as well as Board Directors, investors, partners, and primarily clients and customers.

I have so far been unable to contact Citi Residential to see why they felt Brantley, who is currently under criminal investigation, was hired as a key player in steering Citi
Residential out of its current financial dilemma.

Please see:
calculatedrisk.blogspot.com/2007/03/fbi-mortgage-fraud-is-pervasive-and.html

"FBI: "Mortgage Fraud is pervasive and growing"

From the FBI annual report on financial crimes, mortgage fraud:

... the true level of Mortgage Fraud is largely unknown. The mortgage industry itself does not provide estimates on total industry fraud. However, based on various industry reports and FBI analysis, Mortgage Fraud is pervasive and growing.

Fraud is probably widespread, but I suspect the most common type of fraud - fraud involving borrower misrepresentations - will not be punished.

The FBI investigates Mortgage Fraud in two distinct areas: Fraud for Profit and Fraud for Housing. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to revolve equity, falsely inflate the value of the property, or issue loans based on fictitious properties. Based on existing investigations and Mortgage Fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders.

Fraud for Housing represents illegal actions perpetrated solely by the borrower. The simple motive behind this fraud is to acquire and maintain ownership of a house under false pretenses. This type of fraud is typified by a borrower who makes misrepresentations regarding his income or employment history to qualify for a loan.
...
Although there are many Mortgage Fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders.
So the FBI is focusing on industry insiders and will probably not pursue borrower misrepresentations. My guess is the second most common fraud is some sort of appraisal fraud.
Inflated Appraisals - An appraiser acts in collusion with a borrower and provides a misleading appraisal report to the lender. The report inaccurately states an inflated property value.

I suspect most appraisal frauds will be difficult to prosecute.

Then there are cases like this:
Amerifunding was a Mortgage Brokerage owned and operated by Gerald Small in Colorado, which maintained two "warehouse" lines of credits, each at a large federally-insured financial institution in the U.S. In order to support a lavish lifestyle, Small created fictitious loans to live off of the lines of credit. The borrower information, name, and social security number, were invented. Eventually, one of the creditors asked for verification of identification thereby defeating the "invention" process. To deal with this, Small placed an advertisement for a $100,000+ Account Representative position at his company. Applicants eagerly completed applications inclusive of names, social security numbers and copies of driver's licenses which Small wasted no time in utilizing for more fictitious loans. Investigation determined that Small had kited over $200 million in fraudulent mortgage loans and used the stolen identities of 47 job applicants to obtain mortgage funding for fictitious home loans, or "air loans" totaling over $21.5 million during a 24-month period."
- - - - - - -
Submitted by
Ed Plano Texas
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#4 Author of original report

AMC/Ameriquest quietly folding..

AUTHOR: Ed - (U.S.A.)

Citi takes the astonishing step of hiring James Brantley, infamous mortgage fraud perpetrator and predator who was in large part responsible for the Ameriquest/AMC judgment of an est. $400 million including attorneys fees and associated costs.

Brantley is well known in mortgage fraud circles as a ruthless liar who will stop at nothing to cheat both associates (EMC for one), customers by the thousands as well as Board Directors, investors, partners, and primarily clients and customers.

I have so far been unable to contact Citi Residential to see why they felt Brantley, who is currently under criminal investigation, was hired as a key player in steering Citi
Residential out of its current financial dilemma.

Please see:
calculatedrisk.blogspot.com/2007/03/fbi-mortgage-fraud-is-pervasive-and.html

"FBI: "Mortgage Fraud is pervasive and growing"

From the FBI annual report on financial crimes, mortgage fraud:

... the true level of Mortgage Fraud is largely unknown. The mortgage industry itself does not provide estimates on total industry fraud. However, based on various industry reports and FBI analysis, Mortgage Fraud is pervasive and growing.

Fraud is probably widespread, but I suspect the most common type of fraud - fraud involving borrower misrepresentations - will not be punished.

The FBI investigates Mortgage Fraud in two distinct areas: Fraud for Profit and Fraud for Housing. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to revolve equity, falsely inflate the value of the property, or issue loans based on fictitious properties. Based on existing investigations and Mortgage Fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders.

Fraud for Housing represents illegal actions perpetrated solely by the borrower. The simple motive behind this fraud is to acquire and maintain ownership of a house under false pretenses. This type of fraud is typified by a borrower who makes misrepresentations regarding his income or employment history to qualify for a loan.
...
Although there are many Mortgage Fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders.
So the FBI is focusing on industry insiders and will probably not pursue borrower misrepresentations. My guess is the second most common fraud is some sort of appraisal fraud.
Inflated Appraisals - An appraiser acts in collusion with a borrower and provides a misleading appraisal report to the lender. The report inaccurately states an inflated property value.

I suspect most appraisal frauds will be difficult to prosecute.

Then there are cases like this:
Amerifunding was a Mortgage Brokerage owned and operated by Gerald Small in Colorado, which maintained two "warehouse" lines of credits, each at a large federally-insured financial institution in the U.S. In order to support a lavish lifestyle, Small created fictitious loans to live off of the lines of credit. The borrower information, name, and social security number, were invented. Eventually, one of the creditors asked for verification of identification thereby defeating the "invention" process. To deal with this, Small placed an advertisement for a $100,000+ Account Representative position at his company. Applicants eagerly completed applications inclusive of names, social security numbers and copies of driver's licenses which Small wasted no time in utilizing for more fictitious loans. Investigation determined that Small had kited over $200 million in fraudulent mortgage loans and used the stolen identities of 47 job applicants to obtain mortgage funding for fictitious home loans, or "air loans" totaling over $21.5 million during a 24-month period."
- - - - - - -
Submitted by
Ed Plano Texas
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#5 Author of original report

AMC/Ameriquest quietly folding..

AUTHOR: Ed - (U.S.A.)

Citi takes the astonishing step of hiring James Brantley, infamous mortgage fraud perpetrator and predator who was in large part responsible for the Ameriquest/AMC judgment of an est. $400 million including attorneys fees and associated costs.

Brantley is well known in mortgage fraud circles as a ruthless liar who will stop at nothing to cheat both associates (EMC for one), customers by the thousands as well as Board Directors, investors, partners, and primarily clients and customers.

I have so far been unable to contact Citi Residential to see why they felt Brantley, who is currently under criminal investigation, was hired as a key player in steering Citi
Residential out of its current financial dilemma.

Please see:
calculatedrisk.blogspot.com/2007/03/fbi-mortgage-fraud-is-pervasive-and.html

"FBI: "Mortgage Fraud is pervasive and growing"

From the FBI annual report on financial crimes, mortgage fraud:

... the true level of Mortgage Fraud is largely unknown. The mortgage industry itself does not provide estimates on total industry fraud. However, based on various industry reports and FBI analysis, Mortgage Fraud is pervasive and growing.

Fraud is probably widespread, but I suspect the most common type of fraud - fraud involving borrower misrepresentations - will not be punished.

The FBI investigates Mortgage Fraud in two distinct areas: Fraud for Profit and Fraud for Housing. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to revolve equity, falsely inflate the value of the property, or issue loans based on fictitious properties. Based on existing investigations and Mortgage Fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders.

Fraud for Housing represents illegal actions perpetrated solely by the borrower. The simple motive behind this fraud is to acquire and maintain ownership of a house under false pretenses. This type of fraud is typified by a borrower who makes misrepresentations regarding his income or employment history to qualify for a loan.
...
Although there are many Mortgage Fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders.
So the FBI is focusing on industry insiders and will probably not pursue borrower misrepresentations. My guess is the second most common fraud is some sort of appraisal fraud.
Inflated Appraisals - An appraiser acts in collusion with a borrower and provides a misleading appraisal report to the lender. The report inaccurately states an inflated property value.

I suspect most appraisal frauds will be difficult to prosecute.

Then there are cases like this:
Amerifunding was a Mortgage Brokerage owned and operated by Gerald Small in Colorado, which maintained two "warehouse" lines of credits, each at a large federally-insured financial institution in the U.S. In order to support a lavish lifestyle, Small created fictitious loans to live off of the lines of credit. The borrower information, name, and social security number, were invented. Eventually, one of the creditors asked for verification of identification thereby defeating the "invention" process. To deal with this, Small placed an advertisement for a $100,000+ Account Representative position at his company. Applicants eagerly completed applications inclusive of names, social security numbers and copies of driver's licenses which Small wasted no time in utilizing for more fictitious loans. Investigation determined that Small had kited over $200 million in fraudulent mortgage loans and used the stolen identities of 47 job applicants to obtain mortgage funding for fictitious home loans, or "air loans" totaling over $21.5 million during a 24-month period."
- - - - - - -
Submitted by
Ed Plano Texas
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#6 Author of original report

AMC/Ameriquest quietly folding..

AUTHOR: Ed - (U.S.A.)

Citi takes the astonishing step of hiring James Brantley, infamous mortgage fraud perpetrator and predator who was in large part responsible for the Ameriquest/AMC judgment of an est. $400 million including attorneys fees and associated costs.

Brantley is well known in mortgage fraud circles as a ruthless liar who will stop at nothing to cheat both associates (EMC for one), customers by the thousands as well as Board Directors, investors, partners, and primarily clients and customers.

I have so far been unable to contact Citi Residential to see why they felt Brantley, who is currently under criminal investigation, was hired as a key player in steering Citi
Residential out of its current financial dilemma.

Please see:
calculatedrisk.blogspot.com/2007/03/fbi-mortgage-fraud-is-pervasive-and.html

"FBI: "Mortgage Fraud is pervasive and growing"

From the FBI annual report on financial crimes, mortgage fraud:

... the true level of Mortgage Fraud is largely unknown. The mortgage industry itself does not provide estimates on total industry fraud. However, based on various industry reports and FBI analysis, Mortgage Fraud is pervasive and growing.

Fraud is probably widespread, but I suspect the most common type of fraud - fraud involving borrower misrepresentations - will not be punished.

The FBI investigates Mortgage Fraud in two distinct areas: Fraud for Profit and Fraud for Housing. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to revolve equity, falsely inflate the value of the property, or issue loans based on fictitious properties. Based on existing investigations and Mortgage Fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders.

Fraud for Housing represents illegal actions perpetrated solely by the borrower. The simple motive behind this fraud is to acquire and maintain ownership of a house under false pretenses. This type of fraud is typified by a borrower who makes misrepresentations regarding his income or employment history to qualify for a loan.
...
Although there are many Mortgage Fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders.
So the FBI is focusing on industry insiders and will probably not pursue borrower misrepresentations. My guess is the second most common fraud is some sort of appraisal fraud.
Inflated Appraisals - An appraiser acts in collusion with a borrower and provides a misleading appraisal report to the lender. The report inaccurately states an inflated property value.

I suspect most appraisal frauds will be difficult to prosecute.

Then there are cases like this:
Amerifunding was a Mortgage Brokerage owned and operated by Gerald Small in Colorado, which maintained two "warehouse" lines of credits, each at a large federally-insured financial institution in the U.S. In order to support a lavish lifestyle, Small created fictitious loans to live off of the lines of credit. The borrower information, name, and social security number, were invented. Eventually, one of the creditors asked for verification of identification thereby defeating the "invention" process. To deal with this, Small placed an advertisement for a $100,000+ Account Representative position at his company. Applicants eagerly completed applications inclusive of names, social security numbers and copies of driver's licenses which Small wasted no time in utilizing for more fictitious loans. Investigation determined that Small had kited over $200 million in fraudulent mortgage loans and used the stolen identities of 47 job applicants to obtain mortgage funding for fictitious home loans, or "air loans" totaling over $21.5 million during a 24-month period."
- - - - - - -
Submitted by
Ed Plano Texas
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#7 Author of original report

Update on Ameriquest/AMC fraud and also more lies from Bear Stearns and EMC

AUTHOR: Ed - (U.S.A.)

10-21-07

Edna Wiley & Greg Fedler of BSC
And Delores of EMC
Bear Stearns / EMC Mortgage Services
Lewisville Texas


Although I have repeatedly and continually asked for my entire loan history including a couple months when AMC had the loan,
1) I have yet to receive the estimated 3 months when Town & Country and AMC had the note in spite of repeated promises that I would receive those crucial months. I have received them before from EMC but not since Greg Fedler of BSC *lied* and claimed my $1,000 clerical error on circa May 3, 2005 has already been corrected as you know. (paraphrased but accurate in context)

This letter will be posted online and to the Texas AG's office as well as the DOJ. This is yet another demand for my entire loan history (you have it).

2) I also never received my often requested itemized list of Suspense Corporate or Escrow accounts even though I have also been repeatedly promised them as well.

3) Finally I do not receive monthly statements on a regular basis. I have complained about that as well but I still only receive less than half of the monthly statements I am due.

4) I was also told that my monthly statements contain what the escrow suspense corporate funds were for. They do no such thing.


****************************
It is not hard to understand why BS
Residential, AMC/Ameriquest and EMC
are on the verge of financial collapse
and face an avalanche of litigation and
fraud charges. I will soon add to both
of those categories.
****************************


Ed
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