MORE DRE CORRUPTION: Why Are There Brokers on the Dept. Of Real Estate's No Objection Letter Referral List for Consumers That Have Desist & Refrain Orders, Revoked Licenses and Suspensions on their Record???
If you click on the below link for the Department of Real Estate's website, you will come to a page entitled, Advanced Fee Agreement Listing and the DRE promises its visiting consumers that (and we quote):
The following individual and corporate real estate brokers have submitted Advance Fee Agreements for Loan Modification and/or similar services to the Department of Real Estate for review and have received "no objection" letters regarding their use.
Last Updated: April 24
Link: http://www.dre.ca. Gov/mlb_adv_fees_list.html
We started referring folks to this list back in January when there were about 20 quality real estate licensees listed. We checked back in late February and there were about 75, still good choices. Today we looked and there are now 598 companies/brokers. We thought we would take a look and were shocked to say the least. We just reviewed the companies and brokers that started with the letter A.
We would like to know from Jeff Davi how these names got on an approved list on the Department of Real Estate website.
Do you hate consumers?
Are you wishing them bad fortune in their time of need?
Do you give a rip?
Are these incompetent brokers paying to get on this list?
We would sure love to get our hands on your review process
so we can see how this could happen.
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4Loan.com, Inc. (DBA LendingRUs.com) Reseda, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01328151
Their Broker of Record, F. Eslamieh, has a record of complaints and resulting suspensions in 2002 and 2005.
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01110289
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Albert John Isola / Direct Home Loans Castro Valley, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=00836822
This charming fellow has had multiple complaints beginning in late 1989 which resulted in a suspension. Then he had more complaints in 1997 which resulted in his license being REVOKED.in he was granted a reinstatement of his license only to rack up more complaints in 2002 and effective January 21, he is under investigation for still more complaints.
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Alpha Capital Advisory Group, Inc. Laguna Niguel, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01525536
Two weeks ago, On April 14, the DRE started an investigation of this company's broker of record, Masheed S. Ghazi.
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American Lenders Annex / ALA Connect San Clemente, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01525536
Their broker of record, Sheila Joseph, has been suspended twice once for three years and once for 8 months.
Http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01023329
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Amerifund, Inc. La Verne, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01129525
Complaints started in March and in April the corporation and the broker of record, Russell J. Massro, were publicly reproved.
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=01053135
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And we left the best for last..
Anna Marie Lizarraga Burbank, California
See: http://www2. Dre.ca. Gov/publicasp/pplinfo.Asp? License_id=00785027
On April 29, exactly one year ago today, Ms. Anna was served with a Desist & Refrain Order.
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But don't you know, the DRE has a CYA after the Z listings not at the top where it could warn consumer but way at the end. Where it does no good at all until a consumer complains and then Jeff Davi or someone on his team can say, Well, ma'm, I'm really sorry but we posted a consumer warning on the website page.
Here it is
The Department of Real Estate does not approve, endorse, recommend or make any representations about any of the agreements or their terms, or any aspect of a licensee's business activities. Consumers wishing to contract with a real estate broker for loan modification or any other similar or related services should carefully review the agreement (s) and consider obtaining independent advice before signing an agreement (s) or advancing any fees. Consumers should also consider comparing the services and fees offered by other licensed brokers on the list.
This list is updated on a periodic basis and may not include those which have recently completed the review process.
That is plain sickening. WE WANT ANSWERS JEFF AND WE WANT THEM NOW.
Oh, and by the way, we're striking our recommendation to this list from now on. And we will go through the whole list and call out everyone from B-Z in the next week.
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