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Tag: business-ethics
Rising star or…
Another sample of business ethics out the window
According to this Bloomberg story, Eve Mazzarella, a high school drop-out and former maid from Seattle moved to Las Vegas and started a real estate career in the year 2000. Evidently, she and her husband are now allegedly charged with fraud. The story goes on to say that [...]
Posted: October 30th, 2008 under General Real Estate, mortgage-fraud.
Tags: business-ethics
Comments: 22
Yikes, that was close. Or, was it? Convicted felon making loans.
Man convicted as being a key player of “swindling” $50 Million likely to begin serving 15 yrs. in prison and reportedly has been selling “reverse mortgages” to senior citizens while waiting for date to report to prison.
Evidently, The Washington State Dept. of Financial Institutions (DFI) denied his loan originator license on Dec. 17th of last [...]
Posted: February 19th, 2008 under General Real Estate.
Tags: business-ethics, Legacy-Escrow-Service, Lending-Fraud
Comments: 31
MILA shuts down
MILA, a subprime wholesale lender based in Mountlake Terrace, WA just north of Seattle, closed it’s doors Friday afternoon, leaving the remaining 100+ employees (down from 600 last fall) only 15 minutes to check their emails and clear out their desks. MILA had been making staff reductions as far back as February of 2006.
The Seattle Times reports that [...]
Posted: April 21st, 2007 under General Real Estate.
Tags: business-ethics, MILA, subprime-meltdown
Comments: 168
This Just In: Zero Interest Loans, at a Cost of Zero, with a Monthly Payment of Zero (APR 0%)*
This is part three of a four-part series of blog articles about the subprime mortgage problems facing the real estate industry. In part one I sketched the rise and fall of subprime loan products and their relation to predatory lending practices within a capitalist system. In part two, I examined the structural relationship between a [...]
Posted: April 13th, 2007 under General Real Estate.
Tags: abusive-lending, business-ethics, corporate-structure, deceptive-advertising, non-prime, nonprime, predatory-lending, space-shuttle-challenger-accident, subprime
Comments: 108
