According to court documents, Dean lost two homes in Brooksville, Florida, a silver watch, a gold watch and a gold bracelet. The court also ordered restitution to Bank of America in the amount of $12,774,102.00.
He is 42 years old. He will be 50 after eight years in a federal prison in Virginia. The court has ordered Dean to pay $200 a month in restitution upon release from prison. It will take 5,322 years for Dean to pay the $12,774,102.00 restitution to Bank Of America.
Counce’s company was required to visit a property, complete a report, take photographs and send the information to the lender. Initially, Counce performed inspections himself. As his company grew, employees were hired to carry out the inspections. As the number of foreclosures skyrocketed, the employees were not able to keep up with the volume of inspection requests. Counce’s staff began fabricating reports.
According to investigators, Counce directed inspectors to visit the property and take more photographs than necessary. The photos were then used for subsequent reports. In other cases, Counce allegedly told workers to use information from public websites to fabricate reports for properties that were never inspected.
Employees estimated about 30 percent of the reports completed in 2007 and 2008 were fabricated. That percentage increased to 50 to 60 percent in 2009 when Counce won a new contract with Bank of America. Bank of America paid the company about $23.5 million over the course of five years.
Foreclosurepedia.Org has been reporting that security is so lax in the Mortgage Segment. On most days, Paul Williams lists one or more Mortgage Order Mills (MOMs) who are not offering proper security protection. Logging onto some the MOM websites reminded me of the 1977 movie “The Gauntlet” with Clint Eastwood and Sondra Locke. Eastwood plays a down-and-out cop who falls in love with a prostitute (Locke) whom he is assigned to escort from Las Vegas to Phoenix in order for her to testify against the mob. They armor plated the bus. The whole movie is available on YouTube.
When you visit some of the MOMs you will need more than an armored bus to protect yourself. Security is so poor in the Mortgage Segment of the industry. Be sure to follow Paul Williams and learn the location of the security minefields.
I remember HUD’s pick of In-Town Management Group in 1999. The contract was awarded in April 1999. In May, I attended a conference where HUD was saying that In-Town was having significant problems. A few months later, in September, the contract was terminated for DEFAULT. In-Town then filed for bankruptcy.
Foreclopsurepedia.Org talks about one of the new HUD M&M awardees.
Microsoft no longer offers or supports this once very popular software for the routing of tasks.
What are you using?
Spectrum, a National Association of Mortgage Field Services (NAMFS) Member reported that they have lost 65 percent of all their Inspections. By in large, these were Assurant Field Asset Services (AFAS), inspections. Many are familiar with AFAS and the recent Bowerman Decision handed down against they by a federal court in California ruling that Field Asset Services, the firm bought by Assurant, had misclassified their employees as independent contractors. Truth be told, if Assurant cannot settle for under Two Million Dollars, they will close their doors according to sources speaking on condition of anonymity.
I received an email from a property preservation contractor this week. He was working for a Mortgage Order Mill (MOM). He is owed $100,000 and he has $36,000 in bounced checks. It’s best to avoid the mortgage segment. The Mortgage Segment is the home of $3 mortgage inspections and 99.5% of the fraud, greed and corruption in the industry. Run as fast as you can away from the Mortgage Segment.