My name is Suzan P reside in Vienna, VA. I am a victim of a mortgage (loan) fraud. I've been struggling for over 2 years due to this incident.
I bought a property which was inflated by the seller in one day, over $400,000.00: the seller was also a mortgage broker whom I had known for over 5 years.
The loan officer from the BB&T Bank, appraiser, realtor, and the title company eventually all assisted the seller to flip the property.
The lender was BB&T bank and the loan officer who was engaged in this fraudulent loan transaction was Greg Nosar in Fairfax branch.
In November 2005, we purchased a vacant lot and BB&T financed our mortgage for the lot. The seller was Mr.Kim who was a mortgage broker. After the settlement for this property, I felt something was not right and began asking questions to Mr.Kim, the seller and also a mortgage broker.
After I learned that I had right to obtain a copy of the appraisal report, I requested appraisal report and several loan documents from BB&T and began to examine the loan documents as well as two appraisal reports which were prepared by one of the BB&T's independent contractor. While I was examining the documents, I found many odd things: some of the signatures were forged, the construction drawing was switched right after the loan was approved, the appraiser apparently used the bigger drawing in order to inflate the value of the lot.
I had strong feeling that something was not right and the loan transaction was done improperly. That's when I decided to see the president of BB&T.
I first met with Don Strehle, the regional president of BB&T in 2006 at his office in Falls Church, Virginia.
At that time, I did not have many concrete evidences to provide regarding this loan. I just felt suspicious about it. I explained to him about how I felt about this loan transaction and requested him to internally investigate on my loan documents and the underwriting department including the loan officer: Greg Nosar. At that time, Mr.Strehle also felt that something was done incorrectly and he had promised me that he would internally investigate on my file.
Since I did not get any response from BB&T, I began to research on this loan transaction by myself with help of my relative and private detective as well as attorney.
February of 2007, for the second time, my attorney and one of my relatives, Jay went to meet with Mark R. Lewis, BB&T Bank's attorney.
Mark Lewis, at that time, understood the situation but he was trying to deny everything to protect BB&T. He said that he would talk to the loan officer and others who was engaged in this particular loan transaction and would get back to us. However, again, we did not hear back from him since then regarding this case.
June of 2007, we contacted State of North Carolina, Office of the Bank Commissioner of Banks to file a complaint against BB&T. We had meeting for about 2 hours with the bank commissioners. We went over each document which was falsified and manipulated by both the seller (as well as a mortgage broker for my loan) and Greg Nosar, the loan officer at BB&T. After the meeting, they clearly realized what went wrong and how BB&T had violated the bank regulation. Even one of the bank commissioners recommended us to file a law suit against BB&T immediately.
After the meeting, the Bank Commissioner sent letter to BB&T regarding this particular loan transaction. BB&T replied to their letter in July 2007. When we received the letter which Bank Commissioner had forwarded to us, we were pretty much in shock. Attorney at BB&T bank apparently denied all the facts and falsely stated in that letter about their act.
Finally, we had chance to meet with Don Strehle, the Regional president at BB&T for the Third time, in November 2007. We told Mr.Strehle that the letter which was sent to Bank Commissioner stated all the wrong-facts. I told him that the reason why we went to see Mr.Strehle was to let him know that whatever Mark Lewis, attorney of BB&T stated in that letter was not true. It was all lie. Probably he wrote the letter based on what Greg Nosar, the loan officer at BB&T had stated to protect him and BB&T.
This time, we had more concrete evidences and documents which support the fact on fraudulent loan transaction. However, Mr.Strehle was not even willing to open his mind even to listen. He did not care about the truth. He said that he only believes whatever stated in that letter. He ignored us completely and did not care about the FACT and moreover he did not want to know the TRUTH.
This leaves me with extreme anger and frustration and I had decided that I would be willing to spend rest of my life to reveal the truth and let the whole world know how disgusted and untruthful BB&T was and how BB&T destroyed my life.
Although this was a ridiculous loan, I kept on paying for over 2 years in order to keep my credit in good standing. The total mortgage payment that I've made was totaling $149,458.91 and the litigation fee and all other miscellaneous cost me over $549,000.00. The grand total that I lost due to negligence of the lender and fraudulent loan transaction is $699,428.03. My credit got destroyed and currently I'm facing a foreclosure on this property.
All I wanted to hear back from BB&T was to re-examine the whole loan documents and try to find out what went wrong and how it happened and how they could rectify the problem.
I know that you can not give me any legal advice on this and also you don't have any agencies who can investigate on mortgage fraud. However, I believe that at least someone should know about the fact that how such a big lender like BB&T ruined someone's life entirely and do not have any conscience to acknowledge what they had done wrong. I'm sure that there is a justice somewhere and I strongly believe that there's someone out there who really cares about the Justice and the Truth.
BB&T is a big lender who has money and power and able to get away from all the evil acts. I, however, am a minority and do not have sufficient money to fight and do not have any kinds of power to reveal the TRUTH about the FACT.
However I am not going to give this up. And I will do whatever I could to reveal how terrible, ignorant and untruthful BB&T is.
BB&T is so greedy that they violated the bank regulation. Not only Greg Nosar, the loan officer but also many other loan officers like Greg Nosar are doing the same things as Greg did. BB&T is acting as if they are whole sale lender. They do not contact the borrower and use middle man, such as mortgage broker to get more sales. I have discovered some names of loan officers at BB&T who never contact the borrower and only dealt with the mortgage broker which is violating the bank regulation.
I have had 5 lawyers so far, for civil litigation and they all acknowledged the problems. But they did not want to proceed with the law suit against such a Big Lender: BB&T Bank.
For your record: right after this incident, November 2006, the seller was committed bank fraud and money laundry and sentenced for over 15 years. Now he is imprisoned Federal Prison in Mcrae Georgia. Last month, I went to see him (seller). He had confessed that he did feel guilty about the whole situation. He also told me that the loan transaction was possible because the loan officer at BB&T Bank assisted him to flip the property. The seller specifically told me how the Loan Officer at BB&T Bank, the appraiser, real estate agent and the title company all assisted him to get the fraudulent loan approved.
The Loan Officer at BB&T Bank had to meet certain volume for each months and he asked this seller who was also a mortgage broker to bring more clients to him.
The seller who was also a mortgage broker, contacted the loan officer, Greg Nosar at BB