#mibor

We couldn’t be any more grateful for our continued success and are excited for the New Year.  So We at WKRP Indy Real Estate wish you a Happy Holidays and Merry Christmas. [youtube=http://www.youtube.com/watch?v=opwjp7AHxiE&w=560&h=315]

Please review my email and the response I received  from Dick Gaylord (NAR.)  As I said before, this is a mass scale "Bait and Switch" operation with REMAX and the National Association of Realtors.    

Jim,

    The process for ethics complaints works where there are complaints within the jurisdiction of the Association.

    As you mentioned to me you have taken your complaint to numerous entities and none will take it on.

    I am sorry I cannot help.  This matter falls under the jurisdiction of the local association and I have no authority to get involved.

    I wish you the best in your future real estate endeavors.  My personal advise:  don't let this consume you;  get on with your business and life.

    I am off to D.C. for NAR's midyear meetings.

         Dick Gaylord

   ----- Original Message -----

From: "jim bruggenschmidt"

Sent: 05/10/2008 07:31 AM AST

To: [email protected]

  Subject: NAR Ethics Complaint

Attn:  Mr. Dick Gaylord / NAR President

I have contacted several different members of the Indiana Association

of Realtors (State Board.)  In addition, I have contacted a member of

the Board of Directors with MIBOR.  To date, I have not found anyone

willing to discuss my complaint with me.  As you know, NAR members say

they are dedicated to "protecting and promoting the interest of the

client."

I have not found this to be the case in Indiana.  Unfortunately, it

would appear that Scott Veerkamp continues to use "predatory lending"

tactics with his customers.  As you know from reading my letter, there

is a possibility that Scott has caused financial harm to over 1,000

clients in the last 5 years with the use of YSP.

I find this information to be disturbing...

Sincerely,

Please take time to review 2 exhibits (below)... 

Pam Aguirre is a member of the Metropolitan Indianapolis Board of Realtors. I mailed a complaint to Pam regarding Scott Veerkamp's Predatory Lending tactics. The complaint included documentation of Loan Steering with YSP and Junk Fees. (She refused the delivery of my complaint.)

This response provides additional evidence that REMAX and the National Association of Realtors are participating in a "pattern of deception" with the public. As I mentioned earlier, MIBOR states the following:

1. "REALTORS shall be careful at all times to present a true picture in their advertising and their representations to the public." 2. "The Code of Ethics is a promise to the public that when dealing with a real estate agent who is a REALTOR, they can expect honest and ethical treatment in all transaction- related matters." 3. "Only REALTORS pledge to abide by the Code of Ethics, and only REALTORS are held accountable for their ethical behavior." 

Pam Aguirre had the following statement on her website dated May 1, 2008:  "Pam is a member of the Metropolitan Indianapolis Board of Realtors (MIBOR) where she helps protect the interest of homeowners and increase professionalism in the industry by serving on the board of directors."   

In addition, this statement was included on her website in 2008:  "Pam communicates openly at all times and not only answers questions but supplies additional information whenever possible." 

As a member of MIBOR, Pam did absolutely nothing to protect my interest.  She refused to review my complaint against REMAX Central.   Unfortunately, the REMAX organization consistently uses Bait and Switch tactics to deceive the public.  Here are some examples... 

1. Pam "communicates openly at all times" going in---and Pam refuses to discuss my documentation on Loan Steering going out.  2. Pam "helps protect the interest of homeowners" going in---and Pam refuses the delivery of my complaint against REMAX Central going out.  

In my opinion,  Pam should spend less time shopping and more time investigating complaints about Loan Steering and Predatory Lending with REMAX realtors.  This would be a legitimate way for her to "help protect the interest of homeowners."   

Here are some examples of Scott Veerkamp's deception with Predatory Lending tactics...   

"You can trust our Realtors to always keep your interest first and foremost:

Loan 1:  (Property value $150,000)  A. $4,799 yield spread premium  B. $500 processing fee  C. $250 document preparation fee  D. $50 courier fee  E. $35 electronic filing fee  F. $425 administration fee (lender fee)   

Loan 2:  (Property value $120,000)  A. $1,440 yield spread premium  B. $960 application fee  C. $1,920 in "discount points" (paid to Scott Veerkamp)  D. $409 administration fee (lender fee)  E. $150 underwriting fee (lender fee)  

Warning Letter to Scott Veerkamp:

http://jmb27.posterous.com/warning-letter-to-scott-veerkamp-from-the-off 

NAR:  "How To Avoid Predatory Lending"

http://www.realtor.org/home_buyers_and_sellers/how_to_avoid_predatory_lending  

The Center For Responsible Lending:

http://www.responsiblelending.org/mortgage-lending/research-analysis/ib-ysp-110507-final.pdf 

CRL and Equity Theft: http://www.responsiblelending.org/mortgage-lending/tools-resources/ib011-YSP_Equity_Theft-0604.pdf 

Jeff Merkley and Yield Spread Premium:

http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F  

Download now or preview on posterousWebsite Information.pdf (108 KB)

REMAX:  David Bickell was the President of the Indianapolis Metropolitan Board of Realtors in 2008. 

According to MIBOR: 1. "REALTORS shall be careful at all times to present a true picture in their advertising and their representations to the public." 2. "The Code of Ethics is a promise to the public that when dealing with a real estate agent who is a REALTOR, they can expect honest and ethical treatment in all transaction- related matters." 3. "Only REALTORS pledge to abide by the Code of Ethics, and only REALTORS are held accountable for their ethical behavior."

As the President of MIBOR, David Bickell did absolutely nothing to protect my interest.  He watched Scott Veerkamp's sting operation collect $26,000 at my expense.  Unfortunately, the REMAX organization consistently uses "Bait and Switch" tactics to deceive the public.  Here is an example...

Scott Veerkamp (NAR):  "You can trust our Realtors to always keep your interest first and foremost."

Loan 1:  (Property value $150,000)  A. $4,799 yield spread premium  B. $500 processing fee  C. $250 document preparation fee  D. $50 courier fee  E. $35 electronic filing fee  F. $425 administration fee (lender fee)   

Loan 2:  (Property value $120,000)  A. $1,440 yield spread premium  B. $960 application fee  C. $1,920 in "discount points" (paid to Scott Veerkamp)  D. $409 administration fee (lender fee)  E. $150 underwriting fee (lender fee)  

In closing, please take time to review this information regarding a WARNING letter sent to Scott Veerkamp from the office of the Indiana Attorney General...