Posted by seddy on 12/7/09 1:05pm
Msg #313301

First American National Nevada

Anyone know anything about their loan mod reputation? I had a LM application job for them last week and the borrower didn't want to complete it w/o seeking advice first. I called them and left messages but never heard back. This was the first LM I've ever been assigned so it wasn't until I got back that I searched the forum and learned of all the scams out there. The borrower wasn't at all prepared (took her 10 mins. just to find her DL which she was supposed to have had copied already along w/several other items -- she didn't have copies of anything). She also wasn't at home when I got there so I had to wait a few minutes for her to arrive. First American wanted me to collect 3 post-dated checks in the amount of $500 each. Not sure how I should proceed at this point. TIA for any suggestions/information.

Reply by Yoli/CA on 12/7/09 1:11pm
Msg #313303

I could be wrong, BUT ... the whole thing sounds shady to me. Glad borrower decided to seek advice before proceeding.

Reply by Linda_H/FL on 12/7/09 1:13pm
Msg #313304

Elaine, if you do a search here...or just google

"Florida loan modifications" you'll find out that what you were asked to do is illegal in Florida. The lady was smart to seek advice first....

Reply by seddy on 12/7/09 1:17pm
Msg #313305

Should I report them? I was glad she decided not to sign too

and even told her as much when I noticed they wanted the package shipped back 2nd day but included a RTC. She wouldn't have had the chance to cancel given that time frame.

Reply by Linda_H/FL on 12/7/09 1:23pm
Msg #313307

You can't report them - the FL AG's office won't take a

complaint from you as you're not the one wronged - it's up to the consumer to report them to the FL AG (found this out through another notary who checked with the AG's office about reporting that other most famous company loan mod company - this is what she was told).

And if I were you I'd think twice about taking any more of these, Elaine - it's illegal in this state to collect up-front fees for loan modification applications...fees can only be collected once the modification work has been completed.

Reply by seddy on 12/7/09 1:28pm
Msg #313309

Re: You can't report them - the FL AG's office won't take a

I already decided not to take anymore. One was enough for me! That's too bad about not being able to report them. Also, I know it's probably silly of me, but I wasn't certain whether collecting post-dated checks was the same as collecting money upfront -- figured it probably was, but one could argue that the money wasn't collected upfront because the checks couldn't be deposited/cashed until the date posted. Thanks again for your input and advice Linda. I'll be steering clear of these from now on!

Reply by Oz/Fl on 12/7/09 1:41pm
Msg #313310

Beware of companies that want you to collect money in advance with post dated checks. A company just like this is under investigation here in Florida. The company was based in Ca. but now are out of business. They may have opened under a new name, same scam!

Reply by Oz/Fl on 12/7/09 1:44pm
Msg #313311

You can report them!! I did on the one in Ca. and the Fl. Dept. of Financial Regulation investigator sent me a letter and asked me to send in all the information I had on the company.

Reply by seddy on 12/7/09 1:46pm
Msg #313312

Did you report them? And what was the outcome? n/m

Reply by Linda_H/FL on 12/7/09 1:51pm
Msg #313313

Re: First American National Nevada.."You can report them"

Good to know Adrian..thanks - I know the AG's office won't take the complaint..didn't know about this other office...

Thanks again..

Reply by Rosita on 12/7/09 2:34pm
Msg #313318

Seddy, there is a site ...dre.ca.gov>>>then once in that link type in Desist and Refrain orders, that will take you to a site where it lists all those crooks out there getting peoples money. It is a good site to bookmark and look up any of these companies that they call us to do these Loan Mods.
Hope this help..

Reply by parkerc/ME on 12/7/09 5:42pm
Msg #313372

Re: Post-dated LM app checks

These so called post-dated checks are a laugh, giving you the false sense that they won't be cashed before the posted date. IME, most banks will still cash post-dated checks, particularly if they are included in batch check deposits.

Reply by Daniel Woodman on 12/9/09 8:31pm
Msg #313789

VERY FISHY! First American National Nevada

This company REEKS of fishiness!

1. No notarization is needed on any of their documents, so why are they asking notaries to facilitate the appointment when they could just mail the docs and have the borrower sign and return them?
2. The forms are poorly written, containing bad grammer, misspelled words, and shoddy punctuation.
3. Page 15 says this: "Please be aware that while your home loan is in the modification process; you should not give any information to your lenders regarding our processing procedures." Not only is that semicolon COMPLETELY unnecessary, but the client is supposed to HIDE the whole deal from their lender?!
4. The proposal is for a flat fee of $3,304 to be paid in four equal payments or all up front. The first payment is not due until April. Then it says this: "We guarantee to have your loan restructured or modified, if the modification or restructure program of your loan is not accepted by your lender, you will receive a full refund, minus the processing."
5. I just talked to the client, and she--with broken English--stated that she specifically asked FANFG to send someone to her, because she wanted their signature next to hers, to ensure that this wasn't a scam. I ENSURED her that even IF I were to sign with her, I know nothing more about the company than does she, so it is no guarantee of the company's legitimacy. I told her it looks like this "company" is one lady living in Las Vegas. I suggested she contact an attorney.
6. Oh yeah--the proposed terms were a 30-year fixed-rated at 3.0%.

Fishy. Fishy.

Reply by JoannVA on 12/11/09 9:41pm
Msg #314066

Re: VERY FISHY! First American National Nevada

I did one back on 11/6/09 - which the borrowers cancelled at the table. I was told by (las vegas, NV office) that they would take care of payment - I've not see anything as of today. Also, the documents did not have any notarizations needed, very small package with not alot of documentation of who the lender/ loan modifier was.