Why is it that the ones cheated on, the American economy, are the ones in hell aka recession, while the cheaters are not in prison for it?
Sue Barry has been a loan officer and manager with Countrywide Home Loans for several years. When Ms. Barry was confronted with the public record evidence of her clients, John and Kay Sickler’s , mortgage fraud, she did not deny it. Ms. Barry knew about mortgage fraud , condoned it and benefited by it. It is believed that Ms. Barry at the time of the Sickler’s mortgage fraud was then earning around $450,000 as a loan officer and Countrywide manager.
What Ms. Sue Barry was doing made her a Fraudster , Economic Terrorist , panderer with Unclean Hands , and I believe a plain and simple cheat, and a not very bright one at that. Cheat is to defraud, swindle, practice deceit, or violate rules or agreements. Why is it that the ones cheated on are the ones in hell while the cheaters are not in prison? There is a pattern of behavior from Ms. Sue Barry Barry. She acted outside the accepted Countrywide’s practices as stated in writing to her and every loan officer at Countrywide. Behavior relating not only to mortgage fraud but also violations of Countrywide’s own Human Resource rules. There is a large gap between Countrywide’s Loan Fraud Department and Countrywide’s Corporate Security that Ms. Sue Barry Barry successfully and profitably operated in.
What was the role of David Kahan, the Realtor representing the Sickler’s John & Kay Sickler) in their mortgage fraud? How did he write the Sickler’s purchase contracts? Were they written for an owner occupant or a non-owner occupant in each contract? Why did he hire Mrs. Kay Sickler? Did Mr. David Kahan know of the Sickler’s and Countrywide’s mortgage fraud?
Those Sickler purchase contracts were seen and approved by a Countrywide underwriter as well as its manager, Ms. Sue Barry Barry. Is Ms. Sue Barry Barry a rogue Countrywide employee? Is the Countrywide underwriter that signed off on these fraudulent Sickler loans a rogue employee? Or is this behavior the standard practice at Countrywide? According to documents in the Washoe County public records, Ms. Sue Barry Barry actively condoned mortgage fraud for several years for several of her clients in direct violation of Countrywide’s written policies, United States Code, Freddie Mac, Fannie Mae, VA, and HUD’s mortgage fraud policies. Those violations threatened American National Security , and violated Countrywide Home Loans’ own Human Resources’ policies, the Bank Secrecy Act , and the Patriot Act . Those violations directly contributed to the collapse of the housing market and this recession America is now in.
It is easy to do a free search in any public record. You can search by borrower name, by lender, by escrow or title company, and by type of loan such as Fixed, Adjustable, VA, FHA. Title companies do it all the time for free for Realtors and loan officers to help them with a client farm. They also do it for themselves to know their standing among each other for escrow and title business. Same for home loan lenders so they know how many of the loans recorded into the public records were done by which lender and what type of loan. The documents in the public records have a wealth of information. They have the escrow officer who did the escrow. They have the lender and the representative of the lender on them. They have who notarized signatures. Local newspapers report information gleaned from these public records.
Home loan lenders base yield on risk. The higher the risk, the higher the yield. Lenders call it risk-based pricing . Lenders base their pricing, or what they sell their product, their loans, to a borrower at, on risk-based pricing according to the underwriting guidelines of the investors. The investors are Freddie Mac, Fannie Mae, the government insured loans of FHA and VA, the credit committee of the lender when the loan is a portfolio loan, and hard money. In Trust Deed and non-recourse states such as Nevada, the only collateral is the real property securing the loan or loans. In Nevada, it is only up to the lower of the loan or the fair market value.
Lenders are in the business of originating loans and some service them. Lenders are not in the foreclosure business, nor property management business or in the business of selling real estate. When a loan is delinquent or in foreclosure, it becomes a nonperforming asset on the financial statements of the lender. There is now a cash outlay to the lender such as Trustee Fees, legal fees, recording fees, administrative fees, real estate taxes, property insurance, management fees to a management company, sewer assessment fees to a municipality, transfer tax to the county, and commissions to a real estate broker. This fees add up to an enormous amount of money.
Risk is graded by the delinquency and foreclosure rates and their associated costs. The lowest risk is an owner occupant loan so it is the cheapest product aka loan, a borrower can buy, and can often obtain 100% financing for it. A more riskier loan is a Second Home loan so it is more expensive for the borrower to obtain, either in the rate over the life of the loan or in points paid up front to increase the yield to the lender to cover the increased risk, and often only 95% financing is available. The reason is due to the fees the lenders incurs when the loan is non-performing. With 5% down, the lender is hoping that will cover their cash outlay if they have to foreclose and then sell the property. The riskiest loan is an investor loan aka non-owner loan so it is the most expensive for the borrower to obtain, either in the rate over the life of the loan or in points paid up front to increase the yield to the lender to cover the increased risk, and 100% financing is not available for investor loan aka non-owner loan and often only 90% financing is available. The reason is due to the fees the lenders incurs when the loan is non-performing only now the cost to evict a tenant is added in. With 10% down, the lender is hoping that will cover their cash outlay if they have to evict a tenant, foreclose and then sell the property.
Freddie Mac and Fannie Mae are exceptionally good at understanding that higher interest rates result in more delinquencies and foreclosures of the equity products and the adjustable rate mortgages. They are quasi-Federal agencies, and HUD and the VA agency, govern the government insured FHA and VA loans.
I believe a class-action lawsuit against these lenders, and personal lawsuits against individual cheaters such as Ms. Sue Barry Barry, are probably already a brewing. All the evidence for it is in a very easily traceable record in the public trail of the: the Washoe County public records , Multiple Listing Service , Reno Gazette Journal rental ads, Prudential Nevada Realty house flyers, Freddie Mac , Fannie Mae , HUD , VA , United States Code , NRS 645 , NAC 645 , Realtors Code of Ethics , Reno Justice Court , Washoe County District Court public records, and Sparks Justice Court public records.
Sue Barry has been a loan officer and manager with Countrywide Home Loans for several years. When Ms. Barry was confronted with the public record evidence of her clients, John and Kay Sickler’s , mortgage fraud, she did not deny it. Ms. Barry knew about mortgage fraud , condoned it and benefited by it. It is believed that Ms. Barry at the time of the Sickler’s mortgage fraud was then earning around $450,000 as a loan officer and Countrywide manager.
What Ms. Sue Barry was doing made her a Fraudster , Economic Terrorist , panderer with Unclean Hands , and I believe a plain and simple cheat, and a not very bright one at that. Cheat is to defraud, swindle, practice deceit, or violate rules or agreements. Why is it that the ones cheated on are the ones in hell while the cheaters are not in prison? There is a pattern of behavior from Ms. Sue Barry Barry. She acted outside the accepted Countrywide’s practices as stated in writing to her and every loan officer at Countrywide. Behavior relating not only to mortgage fraud but also violations of Countrywide’s own Human Resource rules. There is a large gap between Countrywide’s Loan Fraud Department and Countrywide’s Corporate Security that Ms. Sue Barry Barry successfully and profitably operated in.
What was the role of David Kahan, the Realtor representing the Sickler’s John & Kay Sickler) in their mortgage fraud? How did he write the Sickler’s purchase contracts? Were they written for an owner occupant or a non-owner occupant in each contract? Why did he hire Mrs. Kay Sickler? Did Mr. David Kahan know of the Sickler’s and Countrywide’s mortgage fraud?
Those Sickler purchase contracts were seen and approved by a Countrywide underwriter as well as its manager, Ms. Sue Barry Barry. Is Ms. Sue Barry Barry a rogue Countrywide employee? Is the Countrywide underwriter that signed off on these fraudulent Sickler loans a rogue employee? Or is this behavior the standard practice at Countrywide? According to documents in the Washoe County public records, Ms. Sue Barry Barry actively condoned mortgage fraud for several years for several of her clients in direct violation of Countrywide’s written policies, United States Code, Freddie Mac, Fannie Mae, VA, and HUD’s mortgage fraud policies. Those violations threatened American National Security , and violated Countrywide Home Loans’ own Human Resources’ policies, the Bank Secrecy Act , and the Patriot Act . Those violations directly contributed to the collapse of the housing market and this recession America is now in.
It is easy to do a free search in any public record. You can search by borrower name, by lender, by escrow or title company, and by type of loan such as Fixed, Adjustable, VA, FHA. Title companies do it all the time for free for Realtors and loan officers to help them with a client farm. They also do it for themselves to know their standing among each other for escrow and title business. Same for home loan lenders so they know how many of the loans recorded into the public records were done by which lender and what type of loan. The documents in the public records have a wealth of information. They have the escrow officer who did the escrow. They have the lender and the representative of the lender on them. They have who notarized signatures. Local newspapers report information gleaned from these public records.
Home loan lenders base yield on risk. The higher the risk, the higher the yield. Lenders call it risk-based pricing . Lenders base their pricing, or what they sell their product, their loans, to a borrower at, on risk-based pricing according to the underwriting guidelines of the investors. The investors are Freddie Mac, Fannie Mae, the government insured loans of FHA and VA, the credit committee of the lender when the loan is a portfolio loan, and hard money. In Trust Deed and non-recourse states such as Nevada, the only collateral is the real property securing the loan or loans. In Nevada, it is only up to the lower of the loan or the fair market value.
Lenders are in the business of originating loans and some service them. Lenders are not in the foreclosure business, nor property management business or in the business of selling real estate. When a loan is delinquent or in foreclosure, it becomes a nonperforming asset on the financial statements of the lender. There is now a cash outlay to the lender such as Trustee Fees, legal fees, recording fees, administrative fees, real estate taxes, property insurance, management fees to a management company, sewer assessment fees to a municipality, transfer tax to the county, and commissions to a real estate broker. This fees add up to an enormous amount of money.
Risk is graded by the delinquency and foreclosure rates and their associated costs. The lowest risk is an owner occupant loan so it is the cheapest product aka loan, a borrower can buy, and can often obtain 100% financing for it. A more riskier loan is a Second Home loan so it is more expensive for the borrower to obtain, either in the rate over the life of the loan or in points paid up front to increase the yield to the lender to cover the increased risk, and often only 95% financing is available. The reason is due to the fees the lenders incurs when the loan is non-performing. With 5% down, the lender is hoping that will cover their cash outlay if they have to foreclose and then sell the property. The riskiest loan is an investor loan aka non-owner loan so it is the most expensive for the borrower to obtain, either in the rate over the life of the loan or in points paid up front to increase the yield to the lender to cover the increased risk, and 100% financing is not available for investor loan aka non-owner loan and often only 90% financing is available. The reason is due to the fees the lenders incurs when the loan is non-performing only now the cost to evict a tenant is added in. With 10% down, the lender is hoping that will cover their cash outlay if they have to evict a tenant, foreclose and then sell the property.
Freddie Mac and Fannie Mae are exceptionally good at understanding that higher interest rates result in more delinquencies and foreclosures of the equity products and the adjustable rate mortgages. They are quasi-Federal agencies, and HUD and the VA agency, govern the government insured FHA and VA loans.
I believe a class-action lawsuit against these lenders, and personal lawsuits against individual cheaters such as Ms. Sue Barry Barry, are probably already a brewing. All the evidence for it is in a very easily traceable record in the public trail of the: the Washoe County public records , Multiple Listing Service , Reno Gazette Journal rental ads, Prudential Nevada Realty house flyers, Freddie Mac , Fannie Mae , HUD , VA , United States Code , NRS 645 , NAC 645 , Realtors Code of Ethics , Reno Justice Court , Washoe County District Court public records, and Sparks Justice Court public records.
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