When Walter Investment Corporation filed for Chapter 11 bankruptcy protection, designed to eliminate $800 Million in debt, they had two cash cows they could not afford to go under. One was Ditech Financial, a firm whom unwisely did business with Brian Mingham and National Real Estate Management (NRES), and the other was Reverse Mortgage Solutions (RMS), currently embroiled in the National Field Network (NFN) fraud scandal. Walter Investment was supposed to have exited their Chapter 11 on 31 January 2018. Problem was that the date came and passed with no exiting. And to that point, whenever you are the parent company to a firm like RMS and you are under Chapter 11, you are looking at ALL possible revenue streams to get out of the hole. To that point, when you are involved with bankruptcy protection, one thing you make certain of is that you are complying with every law, rule, and regulation.

Walter said that as part of the prepackaged bankruptcy plan, it signed agreements with lenders to provide Ditech and RMS with up to $1.9 billion in available warehouse financing that is expected to convert into exit financing in the same amount.

$1.9 billion is a lot of money. And people will do a lot of things to ensure that this level of bridge gap financing is kept safe. Did RMS break the law? I don’t know. What I do know is that it played a definitive roll in allowing NFN to continue to commit fraud. We can use the term fraud in light of a highly placed Source, within the US Government, stating,

I remain cautiously optimistic that if not NFN, that the mortgagees will step up and do the right thing, since NFN has essentially come forward as part of the settlement and admitted that the services were performed by their subcontractors uncompensated.

And while corporations around the country are giving bonuses and raising pay, National Association of Mortgage Field Services (NAMFS) Members are refusing to do such as they pocket the cash. Eric Miller, NAMFS Executive Director, whose salary consumes over EIGHTY ONE PERCENT of all NAMFS Member dues, continues to stick it to Minority Females and Labor. And NAMFS are not the only ones telling Minority Females and Labor to stick it. It has become quite clear, though, that the US Government is somewhat afraid to pursue fraud. I suppose that they should be, to a point, as it is the US Department of Housing and Urban Development‘s (HUD) responsibility to oversee the FHA Insurance program. The FHA 27011 is a document wherein financial institutions submit their claims for expenses upon FHA insured assets which are in foreclosure — the winterizations, debris removal, etc. And it is ISN Corp whom holds the Mortgagee Compliance Manager (MCM) Contract, with HUD, whom are tasked with the responsibilities to root out waste, fraud, and abuse, upon the FHA 27011.

So, who will be thrown under the bus? I mean in light of HUD Secretary Ben Carson’s positioning of his son, against HUD lawyer’s advice, to financially gain from HUD “listening” tours, could it be that Carson and his wife, Candy, are preoccupied with opening doors for the few while allowing Minority Females and Labor to foot the bill? Could it be that vampire squids like Fannie Mae and their unholy and sexual alliances with Fifth Third Bank — FNMA President Timothy Mayopoulos was banging Heather Russell, then Fifth Third legal counsel — generating millions in mortgage billing, were legally responsible for taking their eye off the ball while in bed? Perhaps ISN Corp is working with FNMA or any of the half dozen of the #Fraudsters to keep the fraud from coming to light? Or could it be that HUD literally has no fucking idea what is going on?

The fact of the matter is that HUD doesn’t have a lot of power. False Claims Act violations fall under the purview of the Department of Justice (DoJ) to investigate. And while HUD may saber rattle about the matter, which generally forces payments to victims, the reality is that for a slam dunk, a Relator would have to file a claim in the US District Court to even bring in DoJ. The irony here is that there are no Contractors in this Industry. If there were Contractors, the US District Courts would have already been awash with filings. In fact, this goes to show that NAMFS Members completely understand whom they hire. They know that by continuing a pay when paid PLUS FORTY FIVE TO SIXTY DAYS — like Brian Mingham of NRES does — ensures that no one would ever be capable of legally defending themselves. In addition, should anyone even come close to reporting upon fraud, NAMFS Members begin to institute an illegal and calculated attack of chargebacks upon they.

The pitchforks will come. When Minority Females and Labor begin to understand that their victimization will go unpunished you may make no mistake that someone will snap. Nick Hanauer wrote a large piece on it, so if you believe that it is only myself whom is predicting a body count, you have another thing coming. Here is what he had to say, just months ago,

Three years ago, in these pages, I warned you that the pitchforks were coming. I argued that 30 years of rising and accelerating inequality would inevitably lead to some sort of populist revolt that would disrupt the fantastic lives we elites enjoy. I cautioned that any society which allows itself to become radically and indefensibly unequal eventually faces either an uprising or a police state—or both.

My own ideas about the effect of inequality on social instability align with the work of social scientist Peter Turchin. He and his collaborators use mathematical models to study the rise and fall of societies—an analysis that postulates a new American civil war arriving as soon as 2021 (and in a highly-armed nation already suffering from an epidemic of gun violence, he doesn’t mean “civil war” metaphorically).

Hanauer is not a loose cannon. He is a plutarch. He founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first non-family investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. Hanauer is predicting armed civil war. And if you think that it is going to start from the top down, you have another thing coming.

The last time Foreclosurepedia mentioned this possibility, which pre-dated Hanauer, Eric Miller and NAMFS attempting to sue me. They came after me, like Victor The Douche Deutch did, with a Cease and Desist. And they lost.

So, as a Public Service Announcement to those committing fraud and those protecting them, don’t say I didn’t tell you what myself and others believe is on the horizon.

Contract Opportunities