Fri Oct 22 2:49:39 EDT 2021
Home#BlackLivesMatterBackstabbing For Beginners: How Brian Mingham Stole Millions

Backstabbing For Beginners: How Brian Mingham Stole Millions

The #Epic collapse of National Real Estate Solutions (NRES), owned by Brian Mingham, nearly a year and a half ago, left many people wondering how the sixth collapse of an Altisource Order Mill could go unchallenged. Granted, it is expected with Patricia E McTaggart at the helm, the reality is that Mingham is probably the most protected order mill by Altisource that exists. Where is Mingham now, though? Did he get a bullet in the brain? Did he start flipping burgers at McDonalds? Is he in prison? No. Brian Mingham took your hard earned money and told all of you to go suck a dick. And all of you bowed down and did it. I cannot be more clear than that and I want it to sink in, for just a moment. Brian Mingham is still one of the highest paid order mills by Altisource. And Brian Mingham is doing the same thing he did, while stepping out on the family in Texas, as he is today. The only difference is that he calls himself CFSI Construction Loan Management. I shit you not!

Since at least early 2016, we now know that the employees of NRES were subjected to a House of Horrors. And if you were a woman, the reality is that you were a piece of meat to be belittled and slammed at the slightest hint of problems which were almost always out of your control. Threats of violence including threats to shoot people with firearms was pointed out by a source speaking on condition of anonymity. That source was very clear in the picture painted about Mingham and how the day-to-day operations unfolded. And while normally many may cast this aside as a disgruntled employee, the reality is that there are records attesting to the fact that one woman, in particular, experienced such a hostile work environment that her doctor issued an indefinite work hiatus. And as the collateral bodies began to pile up, employees such as Louis Mora — critical to the bid writing infrastructure at NRES — joined others in the mass exodus. A handful of months ago, it was as if Moses walked through the NRES California Headquarters and Mingham’s employees left with only the clothes on their bodies as they awoke and realized that the Emperor Wore No Clothes.

Curious what Mingham’s fraud looks like, up close, to the insurance firm whom had to cut a check for nearly $60,000? Oh, you didn’t know you could take out insurance policies to protect yourselves from people like Mingham? Guess you aren’t a member of the International Association of Field Service Technicians (IAFST). The map is interactive — simply click a marker to see the information.

For years, Brian Mingham has been haunted by his lack of ability to meaningfully secure long term contracts within the Mortgage Field Services Industry. He has an absolute hatred for Eric Miller, the NAMFS Executive Director. Mingham has been quite vocal in saying that when Mingham attempted to join NAMFS, Miller refused to allow it in because Mingham did not have enough time in the Industry. In essence, Miller castrated Mingham and did such in front of everybody. And while Mingham may be sincere in his statement his actions project themselves as emanating from a man torn between a failing marriage and chemical dependency — whether those chemicals are narcotics or mental hygiene imbalance, I do not know. What I do know is that Mingham certainly pissed off the wrong people at US Bank when he and others, like Liberty Resolution Corporation (LRC), were told they no longer had Contracts as Prime Vendors.

Look, you CANNOT make this shit up. Anyone whom can interpret this statement from Mingham, on his CFSI website, gets a free year’s subscription to the Industry Insider,

Take Nick Pakkidis, Van Nuys, California, Mingham’s right hand henchman. Pakkidis claims that he works for, yet another Mingham fraud firm called Pacific Preservation, which went belly up several months back. Pakkidis and Mingham have been spinning up fraud since the beginning. And when it came to fraud, these two were epic. Take the Muslim owned firm they defrauded over sixty thousand dollars from. In order to keep the books looking right, for auditing purposes, NRES would make a partial payment of say five percent of that which was owed. NRES was able to say they paid the debt and their books would record it.

Mingham’s infamous career both within and without the Mortgage Field Services Industry has always been shadowed by his apparent insecurity in himself. The genesis of Mingham’s lack of compassion might easily be tracked back to his days as a First Vice President of National Sales and Marketing for Wholesale Lending As Well As the First Vice President of Structured Transactions for Correspondent Lending, Countrywide. Countrywide, as many remember, was responsible for nearly a billion dollars in fraud wrought upon the American Taxpayer and countless lives destroyed. Countrywide’s CEO, Angelo Mozilo, along with David Sambol, its president, and Eric Sieracki, the CFO, alongside Brian Mingham, all did their best to line their pockets with cash as families and their children were made homeless. At the heart of the case was the SEC’s contention that the men didn’t tell investors the truth about Countrywide’s exposure to risky mortgages.

No, Mozilo’s fatal flaws were different. One was a desperate hunger to be No. 1, which led Countrywide into a race to the bottom as the mortgage market spiraled out of control. The other was an unwillingness to relinquish control of his baby, which led to an upheaval in Countrywide’s executive ranks at the worst possible time. In other words, the real story of what went wrong at Countrywide is a classic business tale of self-delusion, betrayal, and ambition gone awry. — Bethany McLean

And true to the training which Mingham received from his mentor, Mozilo, Mingham didn’t simply race to the bottom, Mingham drug everyone he could get his arms around, down with him. In the same way that Mingham and his cohorts forever changed the financial sector by and through mortgage backed securities, so to Mingham has changed the Mortgage Field Services Industry.

Mingham set up and followed an Industry wide scheme which was calculated to commit a plethora of crimes. First, upon FHA insured assets, Mingham altered original bids submitted by Minority Females and Labor which were, in turn, submitted to financial institutions upon the FHA 27011. That was a violation of the False Claims Act. Easiest way to understand it is this:  Mingham asked a Misclassified Employee (Labor) for a grass cut bid. Labor submits $100. Mingham then counters with say, $80. Labor accepts. Mingham then submits the full $100 (or more). When that amount is submitted for payment, upon the FHA 27011, the financial institution submitting it becomes a conduit of fraud. The reason being is that it is being stated that Labor is being paid the $100 to perform the task and they are not. Mingham additionally became more cleavor. Running a system of a pay when paid plus 45 days, Mingham collected monies owed to Labor and then never paid them. And Mingham did this, for years. At the height of this, there is no way that Mingham could honestly state that he was financially solvent and in fact pocketed millions of dollars as he headed out the door while continuing to churn out work orders. It was a Ponzi Scheme and more importantly, Mingham was attesting to the fact that he was paying Labor when, in fact, he knew he was not. Mingham is the epitome of #Fraudsters. And you need go no further than the millions he defrauded with the support of Patricia E McTaggart at Altisource.

People like Brian Mingham are the bottom of the barrel. It is one thing to commit fraud, which Brain Mingham obviously has done. When you target people, based what appears to be their religion, this is even more horrific. And if there ever was a case for the #BlackLivesMatter movement to look at a company, this is one. What Minghan didn’t know, though, is that those properties upon which he purposefully defrauded Minority Females and Labor upon are now having Preliminary Notices of Intent To Lien filed. And while Mingham believed that his consolidation of his California and Florida operations at his love nest in Austin, Texas, would take the liability off of his shoulders, nothing could be further from the truth.

For any of you in the Foreclosurepedia Nation whom have seen that prediction after prediction have come true, I tell you this:  CFSI and Brian Mingham are on the same, downward trajectory that NRES was on. Matter of fact, I invite Mingham to join me, on the Foreclosurepedia Podcast, and explain otherwise! And for those of you whom have been defrauded by Brian Mingham, I invite you to come forward and be interviewed, as well.

COVID Interview With Industry Veteran

Paul Williams
Linux addict buried deep in the mountains of East Tennessee.
- Advertisment -



Most Popular