Category Archives: FHA

NAMFS Offender Members Cost HUD 2.09 BILLION

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COO at Aladay LLC
Organic Farmer, Property Preservation Specialist and Custom Glass & Wood Worker. Blogger extraordinaire...
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This past week has seen a lot of activity in the Property Preservation Industry. Sources have been sending information from NAMFS Offender Members suing each other while a 264 million dollar contract sits on the table unserviced then the OIG states…

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General audited HUD to determine whether it paid servicers’ claims for properties that did not foreclose or convey on time. We initiated this audit due to concerns that HUD overpaid servicers’ claims for FHA insurance benefits.
HUD paid claims for an estimated 239,000 properties that servicers did not foreclose upon or convey on time. HUD paid an estimated $141.9 million for servicers’ claims for unreasonable and unnecessary debenture interest that was incurred after the missed foreclosure or conveyance deadline and an estimated $2.09 billion for servicers’ claims for unreasonable and unnecessary holding costs that were incurred after the deadline to convey.
We recommend that HUD issue a change to 24 CFR (Code of Federal Regulations) Part 203, which corrects deficiencies that allowed an estimated $2.23 billion in unreasonable and unnecessary costs to the FHA insurance fund. These changes include a maximum period for filing insurance claims and disallowance of expenses incurred beyond established timeframes. We recommend that HUD develop a strategic information technology plan to make significant operational changes to HUD’s monitoring of single-family conveyance claims to ensure that servicers comply with foreclosure and conveyance timeframes. We also recommend that HUD develop and implement controls to identify noncompliance with current regulations at 24 CFR 203.402.

An example of one of these Offender Members managed properties can be seen here.

Keep in mind ladies and gentlemen, that 2.09 BILLION, you and me, the tax payers. Who do you think the Offender Members of the National Association of Mortgage Field Services wants to blame??? As always with Eric Miller and the nepotism network of Offender Members thieves Miller supervises on a daily basis, Labor.
Make no mistake about this organization of cut throat bottom feeders. They will find away to blame Labor for their illegal actions. They will attempt to pass the buck and act as if the powers to be “made them do it”. They will say anything. To avoid culpability for their criminal activity.
However, I think different…No I believe we’re going to see some change. Albeit forced change as the gutless Eric Miller is not smart enough to supervise constructive change.
There may also possibly be some charges. As the debate time approaches I’m guessing Millerand the criminal Offender Members is pulling up a seat hoping Shillary Clinsanto does well after all she has mortgage and FBI buddies that Miller may be able to end round things should he be able to grab an assist from Wells Fargo, another Offender Member of the National Association of Management For Stealing,(NAMFS) .
Also of note this week a ruling from the Nevada State Supreme Court should have a serious bearing on the PPI.

Owners, contractors and subcontractors need to be aware that they may be liable for liens on a project even if proper contract payments were made. This is true even if an unconditional release has been received because lower-tiered contractors must actually receive payment for work that benefits the owners, contractors or subcontractors…

Wonder which of the Offender Members will be the first Offender Member to get slapped for not paying a Nevada PPI Contractor??? Which of the Offender Members do you think it will be?? This ruling opens doors for slam dunk cases. If you’re literate and can fill out a form you should be able to collect, that if you have the guts to actually demand your money. So many people eat contracts so they won’t rock the boat. Afraid they won’t get any more work orders they won’t get paid for completing.
As more court cases and investigation start coming to fruition involving Offender Members one has to wonder where Miller’s head is??? I would have thought the Hurst v Buczek case would have woke him up and and adjustments would have been made. No, but then Pecuniary Greed never thinks rationally. No, Pecuniary Greed just like the Offender Members continue to say feed me.
It will be very interesting to see how things with Crono Solutions, Q Integrated, Matt Martin Real Estate, and Caliber all plays out. After all 264 million dollar contract currently sits helplessly on the table while any fines for late services HUD will be forced to pick up, ie…the tax payers. Same people that will pick up Well Fargo’s fines for cheating people, but that’s none of our business.
As always folks you can catch my daily updates on American Matters AMNews or stop by Foreclosurepedia for the latest in breaking news on the Offender Members in the PPI.
Until Next Time
Happy Gardening

Business 101…Property Liens…Why you should Lien a Non-Payment Issue in the PPI

Organics Admin
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Organics Admin

COO at Aladay LLC
Organic Farmer, Property Preservation Specialist and Custom Glass & Wood Worker. Blogger extraordinaire...
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FHFA Counsel Testifies on Super-Priority Liens in Nevada State Legislature

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One of the housing arrangements I have never really appreciated is a Home Owner Association (HOA). for the main reason…My house is mine, not yours. Therefore, you do not get to tell me what I can and can not do with my home. My first and only experience with HOA we wanted to put Skylights in our home and the HOA said no we had to stay in line with the rest of the street. Should we want to do our house we would have to do everyone’s house on the street…I’m guessing I do not need to write the colorful adjectives I used when I told them what they could do with their association and their f***upped rules…

Being part of the foreclosure industry many of us have seen HOA’s lien a home because of a water bill or dues have not been paid. I have always felt this was a serious abuse of power, but hey I don’t care for HOA’s in any way. Perhaps that is why I live in the middle of no where!!!

The current session of our 2015 Nevada Legislature for writing new bills for our governor to sign into law, SB 306 has been front and center of the Nevada State Legislature Judiciary Committee as the bill addresses what is called a “super-priority liens”.

From April 7, 2015 FHFA Public AffairsStatement of Alfred M. Pollard, General Counsel, FHFA, before the Nevada State Legislature Judiciary Committee

FHFA and the Enterprises
FHFA is responsible for the effective supervision and regulation of Fannie Mae and Freddie Mac (the Enterprises) and the Federal Home Loan Bank System, which includes twelve Federal Home Loan Banks and the Office of Finance.  FHFA’s mission is to ensure that these regulated entities operate in a safe and sound manner and that they serve as a reliable source of liquidity and funding for housing finance and community investments.  Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.

The Enterprises are major supporters of housing finance in Nevada and have significant positions in lending for units in common interest associations.  The Enterprises act through approved sellers that originate such loans and servicers that manage the collection of principal and interest payments and address any problems facing unit owners in meeting their obligations.

FHFA is concerned about state super-priority liens granting priority rights in foreclosure proceedings to HOAs.  The existence of super liens increases the risk of losses to the Enterprises and, ultimately, the taxpayers.  Today, I will discuss FHFA’s concerns and how SB 306 and the proposed amendment can help address some of those concerns.

Now this has been generated by a decision from Nevada’s courts in the past… from DS NEWS

Last month’s ruling, which was issued by only a 4-3 majority, has only caused more debate in Nevada between mortgage lenders and housing investors over whether or not HOAs should have the right to extinguish a lender’s mortgage on a foreclosed property without going through the courts.

The ruling allows HOAs to legally foreclose on a property that is delinquent on dues payments and auction off the title to the property without the involvement of the lender or courts. The sale of the title by the HOA extinguishes the first mortgage, an action that the lenders argue is not in the best interest of either homeowners and lenders. Lenders contend that HOAs should have to go through courts when initiating a foreclosure on a residential property and they should not have the power to extinguish mortgages nonjudicially.

As you can see this is a marginal decision in a state that is big on property owners property rights. Of course the biggest lender and one of the Too Big to Fail culprits of economic woes that led the country into a recession Bank of America was at the forefront of the legal challenges to Nevada laws.


From today’s DS News…

Alfred M. Pollard, general counsel for the Federal Housing Finance Agency (FHFA), testified on Tuesday before the Nevada State Legislature Judiciary Committee on so-called “super-priority liens” and on recently introduced legislation to amend the way the foreclosure process is handled with regards to a homeowner association (HOA)’s lien.

The subject of super-priority liens has been a hot one in several states, but particularly in Nevada, where the state supreme court  made a controversial ruling last September that gave HOAs the authority  to foreclose on a home and extinguish a mortgage non-judicially, a ruling that was subsequently appealed by lenders.

Last month, a bill was introduced in the Nevada State Senate (SB 306) that proposed to revise the provisions that govern the foreclosure of an HOA’s lien, “requiring the trustee under a deed of trust securing real property to provide a homeowners’ association certain notice concerning the Foreclosure Mediation Program under certain circumstances; and providing other matters properly relating thereto.”

Pollard told the committee on Wednesday that while section 1 of SB 306 places “necessary limits” on what an HOA may seek to recover, “Section 2 makes the most important contribution to certainty for all parties.” Section 2 of the bill creates safeguards, including notice to both the unit owner and the first lien holder of a delinquent assessment that an HOA intends to exercise the “super-priority lien” status and extinguish the first mortgage by foreclosing on the home. Section 2 of the bill requires an HOA to provide the mortgagee with a formal statement of the amount of the deficiency along with a breakdown of all charges that will allow the mortgagee to address the lien payment. Pollard – noting that he believed the extinguishing of a first mortgage is an inappropriate approach for an HOA assessment – said the notice may spur the unit owner to pay the HOA deficiency, but most importantly, it gives mortgagees a chance to protect their position by addressing the deficiency if the unit owner does not. Under the provisions of the proposed bill, the mortgagee (after receiving timely notice) would have until five days before the foreclosure sale to cure the HOA dues deficiency themselves to avoid possibly losing hundreds of thousands of dollars when the HOA extinguishes the first mortgage.

In his testimony, Pollard covered the remaining sections of SB 306, which call for the notice to be published in a “public place” such as a newspaper or a county website, and provide that if a payment is made to the HOA for the amount of the dues deficiency no later than five days before the foreclosure sale, then the HOA cannot legally extinguish the first lien. Pollard called this a “prudent approach” in his testimony.

Funny how when the lenders and agencies feel they have been wronged they immediately address things in the courts crying FOUL!!!!!!!!!!! But let one of their vendors, usually a member of the National Association of Mortgage Field Services, that are supposed to have background checks on ALL of their employees,cheats Labor over the fee they are owed, they bury their head in the sand an ignore the issue. Folks this is why I have said for the past five years…IF YOU DO NOT GET PAID LIEN THE PROPERTY IN QUESTION AND LET THE COURTS SORT THINGS OUT…On a PS type of note…judges tend to sympathize with the little guy on these issues and 85% of the time (least that is what I am seeing) side with the little guy and they get their money.

Today’s article further stated…

One case central to last year’s Nevada Supreme Court decision involves a house sold in Las Vegas in 2007 with a mortgage loan for $885,000 originated by Bank of America. The owner defaulted on the loan a year later and Southern Highlands Community Association foreclosed on the property. The association sold the house at an auction in September 2012 to SFR Investments Pool 1 for $6,000 – the amount the homeowner owed in delinquent HOA dues. When Bank of America tried to schedule its own foreclosure auction on the house the following December, SFR Investments made a filing to stop Bank of America’s foreclosure auction, claiming that the mortgage had been extinguished when SFR bought the house in September

In order to protect Fannie Mae’s and Freddie Mac’s property rights, FHFA intervened in two Nevada cases in which an HOA extinguished a mortgage last year.

In December, FHFA released a statement warning organizations that label mortgage loans with super-priority lien status that such loans will not push mortgages backed by Fannie Mae and Freddie Mac into the secondary position. The warning was aimed mainly at energy retrofit financing programs and HOAs that attach super-priority lien status to mortgages because of the risk they pose to taxpayers while Fannie Mae and Freddie Mac are under FHFA’s conservatorship.

“Extinguishing property rights is no inconsequential matter,” Pollard said in his testimony. “FHFA, which operates under federal law addressing such matters, must consider this as Fannie Mae and Freddie Mac review not only the legal issues involved, but as well the underwriting standards that apply in states that maintain such potential extraordinary remedies.  FHFA has an obligation to protect Fannie Mae’s and Freddie Mac’s rights. By way of summary, FHFA does find that most of the provisions of SB 306 improve the situation for lenders and secondary market participants in Nevada and support common interest communities, while we continue to have concerns with other sections of the existing law and practices under that law.”

So let this be a lesson to the small guy that performs the LABOR on these properties…LIEN any property you have been wronged on. Do not hesitate.

After all the Too Big to Fail folks did not hesitate to take monies and then take the properties back. Talk about a serious scam!!! Sell a property collect 10k then foreclose the property and re-sell it…the Too Big to Fail folks lost nothing while the collapsed our economy and gave themselves million dollars bonuses for doing so with taxpayers monies..

Until Next Time

Happy Gardening


Written by Aaron Aveiro

DS News article written by: Brian Honea

About Author: Brian Honea

Brian Honea
Brian Honea’s writing and editing career spans 14 years across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.
Opinions expressed do not reflect those of Aladay LLC Ownership