NAMFS Black Swan: How Shari Nott Was Just Deposed In Federal Court

Fannie Mae Executives Accused Of Conspiring To Defraud Minority Females And Labor In Testimony By Shari Nott

The millions of dollars owed to Minority Females and Labor by Jack Jaffa, Christopher Crandell, and Shari Nott came front and center during a federal deposition last week in New Jersey. Jaffa, Nott, and Chris Crandell are all co-owners of NFN according to Jaffa. NFN has been at the center of an Involuntary Bankruptcy filed by Minority Females and Labor, all victims of Jaffa, Crandell, and Nott. And while some of those allegations dealt with Nott making company loans to other companies she runs, with monies owed to Minority Females and Labor, and profiting from them, others took on a more sinister position. Here is what one person had to say, about the companies which Shari Nott financially benefited, with NFN monies, while refusing to pay Minority Females and Labor,

All the Right Movers is an NJ-based eviction company, owned by higher ups at NFN, that does evictions for NFN at a lower discount than other jobbers. All The Right Movers, New Jersey’s Concierge Moving Company. Chik-Chak Station is a thrift store in NJ, also owned by higher ups at NFN, that “buys” items from All the Right Movers after the 30 day storage period ends. https://www.facebook.com/chikchakstation/. Commigrate is a call center, also owned by higher ups at NFN, that provides after hour phone services.

And those loans were front and center in federal filings several days ago,

When Nott sat down to begin her deposition earlier this week she was surrounded by a Who’s Who of Get Out of Jail Free lawyers including David H Stein, a shareholder at Wilentz, Goldman & Spitzer, P.A. and co-chair of the firm’s Banking and Financial Services group and the Bankruptcy and Creditors’ Rights group. And Stein made it clear he wanted to hear nothing from the victims — The Lawyer’s Ma’am, Just The Lawyers. According to sources speaking on condition of anonymity, Shari Nott’s sworn testimony revolved around matters extending well beyond the normal bankruptcy inquiry with mountains of condemnation heaped upon Fannie Mae executives such as Jason Chapman, Director of Property Preservation and Field Quality Control at Fannie Mae.

Nott’s testimony, under penalty of perjury, was not a simple defense of National Field Network. Nott’s testimony was an unleashing upon corporate elites which accused Fannie Mae of knowingly continuing operations even though Nott made them well aware that they were unable to pay Minority Females and Labor.

Those sources continued to state it would appear to have been inferred that Jaffa had conspired, on multiple levels, to unjustly enrich himself. And according to Nott, Jaffa lied on his federal income tax reports by naming her as a one percent owner — Nott adamantly denied having any ownership in NFN. This raises the legal jeopardy issue of whether or not Jack Jaffa fraudulently submitted his federal income tax to the IRS by naming Nott as a co-owner of NFN.

Jaffa, also the owner of Jaffa & Associates, is no stranger to claims of fraud being levied against he and his business interests. New York Real Estate publication The Real Deal had this to say about Jaffa,

Delshah Capital claims an expeditor failed to take care of violations at a West Village apartment building, resulting in higher fines that totaled at least $39,000.

The firm accuses Brooklyn-based Jack Jaffa & Associates of working “carelessly, negligently and improperly” to remove open violations with the Department of Buildings and the Environmental Control Board at , according to a lawsuit filed with the state Supreme Court on Wednesday.

According to the Department of Buildings website, Delshah was hit with several violations related to an apartment that was improperly converted for “transient use” — i.e. for short-term renters and/or hotel use. The fines weren’t paid on time, triggering a $1,000 a day late fee, records show.

While Shari Nott continued to lay blame everywhere except at her own feet, Facebook postings between Diane Burley and Nott show Nott was living the high life in London attending exclusive events and spending an inordinate amount of money owed to Minority Females and Labor,

Those same sources continued that sworn testimony from Shari Nott continued to reveal grizzly atrocities allegedly masterminded by high level Fannie Mae personnel. According to Nott, Jason Chapman and Brad Phillips, et al., were informed that NFN was unable to continue the pace at which work orders were being issued. Nott stated that when she confronted Fannie Mae personnel with the information that NFN could no longer afford to pay Minority Females and Labor she was told it didn’t matter. As it was put, it was cheaper for Fannie Mae to defend against liens, which may be filed, than pay for the services. Fannie Mae counsel Ken Carroll was contacted for comment and none was forthcoming. Carroll was the lawyer whom NFN’s former counsel, Victor Deutch, worked with during the attacks upon Foreclosurepedia which were calculated to have a chilling effect upon free speech.

Foreclosurepedia has sent multiple emails to Chapman, Phillips, and Ken Carroll, Counsel to Fannie Mae, pertaining to the Involuntary Bankruptcy ongoing including Nott’s accusations. To date, none have refuted these claims.

Millions of dollars in equity draws were removed by Jaffa as NFN went into its downward spiral. All told, Jaffa himself took out nearly THREE AND A HALF MILLION DOLLARS when NFN began its Black Swan according to federal documents obtained exclusively by Foreclosurepedia. Sworn testimony by Shari Nott revealed that Jaffa was unreachable by phone or email during the same period of time he was raiding funds from NFN. Additionally, testimony by Nott revealed that Jaffa was purchasing Porsches and other vehicles using NFN funds owed to Minority Females and Labor.

And as we see in both the Involuntary Bankruptcy currently pending in New Jersey Federal Court as well as the above matter concerning Delshah, the NY Better Business Bureau documented a case of an alleged scam committed by Jack Jaffa against a handicapped victim,

I HIRED THIS COMPANY TO TAKE CARE OF A MINOR VIOLATION (WHICH WAS A WHITE LINE ON MY SIDEWALK NEAR MY DRIVEWAY.) I AM HANDICAP, AND MANY PEOPLE DO NOT SEE THAT THEY ARE BLOCKING MY DRIVEWAY- MAKING IT EXTREMELY HARD FOR ME TO PULL OUT. MOREOVER, I HIRED JACK JAFFA & ASSOCIATES TO HAVE THIS VIOLATION TAKEN CARE OF. I SENT THEM A CHECK IN THE MAIL FOR $50, AND NOTHING WAS DONE WHATSOEVER. THE FIRST REPRESENTATIVE FROM JACK JAFFA & ASSOCIATES NAMED SORAH, EXPLAINED THIS IS A SLIGHT VIOLATION AND ASSURED ME THIS WOULD BE DISMISSED BEFORE I SENT THE CHECK. I AM WELL AWARE OF THIS SLIGHT VIOLATION BECAUSE I MYSELF HAVE DEALT [sic] WITH IT IN THE PAST. THIS COMPANY IS NOTHING BUT A SCAM. THEY HAVE NOT BEEN IN CONTACT WITH ME AFTER THE HEARING DATE (11-*-17) TO FOLLOW UP. I PERSONALLY HAD TO FOLLOW UP MYSELF AND ASK WHAT THE STATUS OF MY CASE IS. SORAH THEN SENT ME OVER TO A MAN NAMED JOSH- WHO RIDICULOUSLY STATED I NEEDED TO PAY $250. I COULD HAVE PAID THE $250 FROM THE ***** SINCE THAT WAS THE SUMMON AMOUNT FOR THE VIOLATION. THIS COMPANY’S ADVERTISEMENT IS BEYOND UNTRUTHFUL AND NEEDS TO BE ADDRESSED IMMEDIATELY. THEY WERE QUICK TO ACCEPT THE CHECK FOR THE $50, AND DID NOTHING WHATSOEVER. THERE WAS NO NEED FOR ME TO PAY THE $50 TO THIS SCAM COMPANY IF THEY WERE NOT GOING TO ADDRESS THE ISSUE. I HAVE BEEN IN CONTACT WITH THEM, AND THEY DECLINED TO PROVIDE A REFUND FOR THE $50 I SENT THEM. AGAIN, THIS COMPANY ADVERTISES IN WAYS THAT ARE INCORRECT. I WOULD LIKE MY $50 SENT BACK TO ME, SINCE THIS COMPANY HAS DONE NOTHING AT ALL- ESPECIALLY SINCE THERE HAS BEEN NO CONTACT ON THEIR END TO LET ME KNOW WHAT THE STATUS OF MY CASE WAS. I HAVE NEVER DEALT WITH SUCH HORRIBLE CUSTOMER SERVICE. — Editor’s Note:  The Complaint on the BBB Website was in ALL CAPS.

Sources stated that when asked about chargebacks, Nott admitted that they were known as back charging and that NFN did execute them on behalf of multiple Clients. Nott did not verify that those monies were ever returned to the Clients themselves and has been ordered to produce documents pertaining to them. Nott also testified about the term “HUD Adjusted”. Nott’s testimony was that this was simply an Industry term and did not refer to the US Department of Housing and Urban Development (HUD). Documents pertaining to that line of questioning are to be turned over, as well. To that point, Foreclosurepedia has written extensively upon the fact that HUD does not adjust pricing in a negotiated fashion as employed by NFN and many other Mortgage Field Services Industry firms.

Nott was not emitting the paean so desired by her fellow National Association of Mortgage Field Services (NAMFS) colleagues. In fact, Nott trespassed dangerously close to heresy when it came to throwing her colleagues under the bus! Alan and Melissa Bunker, Spectrum Field Services, are the last remaining large scale Clients to continue working with NFN now based out of Texas.

The House of Fraud which Eric Miller has constructed and Justis Smith now oversees, as the President of NAMFS, stands as a testament to that which happens when All White Board of Directors are allowed to fleece Minority Females and Labor unchecked. Miller, whose annual salary eclipses ONE HUNDRED AND TWENTY THOUSAND DOLLARS PER YEAR; Miller whose salary consumes over EIGHTY PERCENT OF ALL NAMFS MEMBER DUES.

The stakes are high. NAMFS is in its worst financial state since being founded nearly 26 years ago. In fact, in the first half of FY 2018, NAMFS has lost Prime Vendor Membership accounting for nearly THREE BILLION DOLLARS worth of Contract Portfolios.

With Jack Jaffa getting ready to take the stand, many are questioning precisely how far and how deep NAMFS exposure will become. Foreclosurepedia will keep you updated as this case continues to unfold and as Nott, Jaffa, and Crandell’s financial terrorism continues to be exposed.

Help support Foreclosurepedia’s Mission of No Contractor Left Behind. Consider working with us to assist you and your Company during these dangerous and turbulent times,


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