Posted by Stamper_WI on 6/2/09 12:58pm
Msg #290815

Another 21s Century?

I just turned down what I was told was a loan modification.That was after I told them I would not do the applications.
The doc's I got were the consulting contract application doc's. The fee's were left blank, no RTC per WI law and they are not registed consultants as required by WI law.
Get this, they require cashiers checks, no personal checks.
My delemia is that the client is some one in my neighborhood.

Reply by Stamper_WI on 6/2/09 12:59pm
Msg #290816

Oh The company is Alpine Settlement Group LLC. Trading off on Alpine Group INC?

Reply by Lee/AR on 6/2/09 2:55pm
Msg #290833

Certified checks, yet....

And they 'said' it was a Loan Mod...
Ya' done good. As Susan Fischer says...your customers are my neighbors.

Reply by Linda_H/FL on 6/2/09 3:01pm
Msg #290835

Yep - certified checks - so a stop payment can't

be put on them....hmmm....

Reply by Stamper_WI on 6/2/09 3:25pm
Msg #290838

Re: Yep - certified checks - so a stop payment can't

Yeah Its done through some law offices in Phoenix name after an attorney. But that particular attorney is not in the AZ bar. She's in CA in Palm Springs, San Diego or the greater LA area. Take your pick.

Reply by Jessc098 on 6/2/09 8:15pm
Msg #290903

21'st Century is also using the D/B/A of "PC SIGNINGS"

Ewwww... that's bad news. 21st Century, just an FYI is also going by "PC Signings"

I stopped doing loan mods back in March or April after just getting too much of a bad vibe about mods (nothing outright illegal in WA laws, but WA laws are super vague, I even called the AG's office for advice, and they said they weren't really sure there were any laws broken, but not all scams are illegal yet).

Jessica

Reply by JanetK_CA on 6/2/09 10:00pm
Msg #290926

Me too, different company

I had a similar experience this morning. When I was told it was for a modification, I asked if it was an application signing and was told "no", so I hesitantly agreed. Turns out it was for a retainer for an attorney, and I was to pick up a check for the first installment, total retainer of $2900. I didn't even bother to look at the documents, just called back to cancel.

I believe someone here said it was illegal in CA to collect fees up front for modifications or was that just something under consideration? Does anyone have a source for that? If so, I wonder if they get around it by calling it a retainer for the attorney. Sounds like pretty much the same concept to me and doesn't smell right. BTW, the company's name (not the ss that called me) was "Loss Mitigation..." something or other.

I've been doing a fair number of modifications for another company, but it's the final docs that get signed and they send their fee after the fact, directly to the lender. This one also had some data to collect and forms to fill out. Sounded too vague to me. I think I'm very glad I backed out of that one.

Reply by LKT/CA on 6/2/09 10:46pm
Msg #290932

Re: Me too, different company

<<< If so, I wonder if they get around it by calling it a retainer for the attorney. Sounds like pretty much the same concept to me and doesn't smell right.>>>

That gives me an idea. If I get a call in the future for a job, no matter what they call it, I'll inquire by description - "Will I collect documents (other than a copy of ID), have forms filled out and collect checks?"