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.
I love math calculations. So a package of 20 cigarettes will increase to $13 in New York if the mayor’s bill passes. A Brooklyn mortgage inspector gets paid $3 for a mortgage inspection. The profit is “maybe” $1.50. The profit from that $3 mortgage inspection will buy about 2.3 cigarettes. For the average smoker, that is about 25 puffs of smoke. So one mortgage inspection pays for 25 puffs of smoke. A business verification will buy about 3 packs of NY cigarettes … that’s about 660 puffs.
So you wear our your car with $3 mortgage inspections and it smells like smoke and the entire inside of the car has a brownish color on the windows, all of the fabric seats and the headliner.
Cheap! Cheap! Cheap!
Cheap! Cheap! Cheap!
The mortgage order mill advertising on Craigslist and paying $14 a cubic yard for debris removal says you must bring your own HUD, VA, Fannie-Mae and Freddie-Mac Kwikset master keys if you want a job with them. Cheap! Cheap! Cheap! Run away fast!
The Mortgage Segment is dead. Altisource was a $170 stock about 36 months ago. It has crashed and is bleeding profusely. Avoid Altisource and Ocwen … the worst performing mortgage bank servicers. It will get worst before it gets better. If either of these firms is in your pay chain … you could get screwed.
Exercise Plan #18. Run like hell!
Today this pig is still moving … but, very slowly. Stay clear of Ocwen so as not to get roasted like them. The national and the regional mortgage order mills are competing for the table scraps. The little mortgage order mills cannot compete. One of the largest mortgage order mills is rumored to be up for sale while battling two major legal actions … one in federal district court. One mortgage order mill tells unpaid inspectors that their pay is delayed because of their cash flow … they made some bad investments. The inspectors are paying for their mismanagement. Mortgage inspections paid more 20 years ago. Today, the pigs are dying. Avoid mortgage inspections.
NEW YORK, April 20, 2017 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Ocwen Financial Corporation (“Ocwen” or the “Company”) (OCN). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/ocn.
I suggest that you AVOID working for any Mortgage Order Mill (MOM) getting any work, directly or indirectly, from Ocwen. The stock lost 180 million in market cap in one day. The past 5 years of earnings are down 33.70%. Ocwen is going the way of Blockbuster, Radio Shack and Sears. The end is near.
Comment on this post with the names of MOMs getting work from Ocwen.
The greedy pig is on life support.