Feed Editor 11 Apr 2010 01:48:35 GMT Blog of San Diego - Mortgage Fraud http://www.blogofsandiego.com/RSS/Mortgage.xml en http://www.blogofsandiego.com/RSS/BlogOfSanDiegoLogo.png Blog of San Diego - Logo On August 6, 2010 I called on the Florida media to investigate the sale and financing by Jeff Greene of 300 condo units in Ridgecrest, California that I had investigated and written about back in April 2009, long before Greene announced that he was a candidate for U.S. Senator from Florida. Greene had sold 300 converted condos in a former military housing project in which he is still the landlord for a substantial number of rental units. 2 Nov 2010 22:39:45 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#08/17/10 82B98F8D-25B9-4204-B902-67CECEDBD8C7 What is a colorful Los Angeles real estate mogul/playboy doing running for the U.S. Senate from Florida? I could hardly believe my eyes when I saw Jeff Greene's fast-talking, smiling face on national TV touting his qualifications to represent the State of Florida in the U.S.. Senate. Where did this guy get his cojones? 2 Nov 2010 22:39:15 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#08/06/10 F8042AE3-BDBC-458D-B3B2-DFBB883D4E45 Nicole McConville, Jim McConville's daughter, got her Bankruptcy Discharge Judgement on Friday. This means that all the debts associated with the entire McConville straw-buyer mortgage scam, up and down California, have been wiped out by one stroke of a Federal Judge's pen. Several creditors to whom I spoke on Friday are shocked. They expected proper hearings and suspect that the McConville's received special treatment. 11 Apr 2010 01:59:35 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#03/28/10 082A7020-6A38-4ACF-B5DA-7018BD1538A9 The wife of real estate fraudster Jim McConville filed for personal bankruptcy yesterday. Here is the court filing. It is a petition to wipe out between $1 million and $10 million in "mainly business debt" to between 100 and 199 creditors. 18 pages of the document are devoted to listing her many creditors a meeting of whom is scheduled for January 6, 2010. 11 Apr 2010 01:58:56 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#12/03/09 CB563DE2-ED0C-4936-A89F-871CBB6E71D1 Does the Federal Government have a conflict of interest with regard to bank fraud? Fraud is defined as "an act of deliberate deception with the intent of securing something by taking unfair advantage of another." The banks practiced deliberate deception in creating and selling mortgage loans took "unfair advantage" of both borrowers and investors. 11 Apr 2010 01:58:14 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#09/09/09 A7913AB7-84FD-4F22-AB89-76681E92BE63 The plight of the 112 unit Sommerset Villas condo project in Escondido, raped and left for dead by a veritable gang of institutional lenders and ruthless developers, calls into question the ability of our law enforcement and media establishment to deal with the massive fraud that fueled the real estate bubble. The following is a progress report on my ongoing investigation into real estate and loan fraud up and down the state. 11 Apr 2010 01:57:24 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#07/14/09 792ACE46-FA3F-4182-8017-D5703237CE9D "McConville's Check Clears". I was amazed to read that piece of news in the Voice of San Diego yesterday, so I made a few phone calls to see if it was true. It is not. The Voice wrongly reported that James McConville wrote a check to Najarian Loans Inc., to settle this lawsuit. 11 Apr 2010 01:56:35 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#05/28/09 D69B9EA2-CBA5-40E2-BB21-D2910A580DBE Up and down the State of California lenders and title companies have been conspiring with developers to bilk people out of hundreds of millions of dollars. This lawsuit recently filed in San Luis Obispo tells a story that is happening all over California. I have investigated several situations that parallel almost exactly what happened in San Luis Obispo. 11 Apr 2010 01:55:48 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#06/25/09 F5FD8DC3-053B-4E6B-9A21-07D28563A3B8 China and Russia wanted a piece of the American capitalist dream - ordinary American people lending their life savings to neighbors to build their American dream home through a Jimmy Stewart-style small town American bank. 11 Apr 2010 01:55:06 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#05/26/09 A5049DD2-0D10-4C46-B1AD-3603BE520BC7 Nobody knew better than Los Angeles apartment mogul Jeff Greene when the real estate bubble would burst. He was one of the main architects of the fraudulent loans that inflated real estate prices. Then he bet that the whole edifice would come tumbling down and made a billion dollars on that bet. He had discovered "credit default swaps" (CDS). Watch him explain to a CNBC reporter how his only regret is not doing "twice as much". 11 Apr 2010 01:54:08 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#04/27/09 5C8C48A6-1827-4BC3-A202-457ABFF358D3 In reporting this story today the Union-Tribune carefully avoided mentioning the name of local developer Chris Lafornara, just as the Voice of San Diego carefully avoided mentioning the name of local developer Ralph Giannella in a similar story about the Sommerset Villas condos in Escondido last week. Why is that? Aren't these developers the real culprits? 11 Apr 2010 01:53:15 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#04/25/09 5A445BCB-E996-4E55-9216-27F63B21D1E0 Here is another San Diego county condominium project owned by a company at Jim McConville's now infamous address, 37968 Canyon Heights Drive, Fremont. This is the current owner list. They all appear to be typical McConville "straw buyers" from northern California. Those units marked with a red flag are in foreclosure i.e. almost all of them. 11 Apr 2010 01:52:26 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#04/22/09 1918ACAA-EEE8-4D5C-8838-6E82051C19D8 This Settlement Statement, known as a HUD-1, for one of the fraudulent condo sales in Escondido about which the Voice of San Diego and the Union-Tribune reported last week, contains a little gem of information: a commission payment to "United Equity". 11 Apr 2010 01:51:41 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#04/18/09 C39DEC30-1D8C-4B5B-9513-DFC8CE661DC8 Here is what the Voice of San Diego did not tell you in its real estate scam story: Vicki Jenkins, the buyer, signed five trust deeds (mortgages) as an owner-occupier on five different properties. The Voice merely reported that she had "loaned her identity" for a fee. 11 Apr 2010 01:49:11 GMT http://www.blogofsandiego.com/Mortgage-Crisis.htm#04/13/09 3482724E-89D1-4326-8CA7-24192A6549FC