My name is Jessie. I have banked with Citizens National Bank in Bossier City, LA for about 15 years. I am a local, ordained minister and business owner. My wife and I owned a business, The Watson Financial Group, LLC. We bought and rehabbed houses and flipped them. We have done this for about 15 years also. We were divorced in 2009. At that time, my wife, Angie moved into the house in question with my two sons. This house was secured by a commercial mortgage loan with Citizen's with interest only payments.
I moved to Atlanta, GA in 2009. At that time of my moving, I went to the bank and asked my loan officer to get the bank to write me a letter stating to the divorce court that this house was not a regular residential mortgage but a business loan secured by investment property that needed to be paid off. Two or three times I personally visited the bank and asked that this be done. It never was.
I also gave the loan officer my new phone number and told him to let me know if anything adverse happened with the note. He promised he would. I even have an email Angie gave me detailing that I had called him and then he asked her the question, "What should I do". He had a fidiuary responsibility and a federal mandate to contact me but my wife and he decided to not contact me. She had been told to stop paying the note and let the house go into foreclosure so she could get a loan in her name and take the house from me.
The loan officer even called her attorney and briefed him on how he was going to do this for Angie Watson. You do not advise a customer to stop paying a mortgage note and let a house go into foreclosure, especially a house that has $100k equity in it. The loan officer did not grant Angie a loan to purchase the house but called her and told her he would give her a loan to purchase another house after the house went to foreclosure.
When I moved back to town in 2011, Angie told me of these misgivings. She has produced emails to prove that she and the loan officer were working together and against me to seek results she wanted. She knew he should not have done it but at the time was mad with me. After he failed to solidify his promises to her, she told me.
I have lost my business and source of income from this incident as well as my credit rating(personal & business) and the house it took six months to rehab and about $100k in equity. My son & wife were evicted from the property and were homeless and he was taken from his school district also.
The event has caused enormous emotional and pychological stress and bankrupted Angie.
I have written a letter to the president of the bank and talked to the bank attorney. Both have failed to take this case serriously and have lied to the Attorney Generals office. I am awaiting a response from the OCC and will be filing a civil lawsuit soon. The officer and I used to talk about ethical character and conduct all the time. You would think he would come clean with the bank and take the higher road and admit his wrongdoing.
I and Angie will be filing this suit and want the public to know what has occured. We are African-American and never saw but one or two African-Americans working at any of the branches of this bank. Never have we seen an African-American in a lending position in all 15 years, none on the board of directors and the bank has not given to the African-Amercian community in an amount congruent with its charity giving. It is my fault for not bringing this to the forefront much sooner.
There has been a gross breach of contractual duty and failure to uphold standard banking practices as well as malicous intent to defraud on behave of Citizen's National Bank