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mbrownusa
700 Posts |
 Posted - 05/09/2008 : 08:37:48 AM
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Don't know if anyone posted this but:
http://www.lasvegasnow.com/global/story.asp?s=8293812
I-Team: Investigators Bust Alleged Mortgage Fraud Ring
Agents from the Nevada Attorney General's Office have busted a complex mortgage fraud scam. Three people have been arrested with a fourth still on the run. The Attorney General is charging the four with a 90 felony counts.
It is seemingly becoming a familiar set of circumstances. In a court document obtained exclusively by the I-Team, the two alleged ringleaders are accused of forging signatures, inflating the assets of unsuspecting customers, even pocketing some of the resulting loan money.
The final arrest took place just outside the Big Dog's restaurant on west Sahara Avenue. Thirty-eight-year-old Cindy Birkland was put into handcuffs by undercover agents from the Nevada Attorney General's Mortgage Fraud Task Force.
Since 2003, state records show Birkland has owned Sapphire Mortgage in Henderson. But in a 44-page complaint, the Attorney General alleges Birkland and an associate named Jeffrey Brown have been doctoring the personal information of customers to secure larger loans.
In one case, the complaint alleges the pair listed a restaurant server's income as $22,000 per month. In another case, the complaint charges Birkland actually added a customer as a co-owner on one of Birkland's own bank accounts to show a bigger cash balance to a lender.
In all cases, the Attorney General alleges the goal was to get lenders to loan money the customers didn't want, didn't know about and could not afford.
Thursday afternoon, two related arrests were made from a construction company called the Searco Group on Spring Mountain Road. Forty-six-year-old Bryan Sears and 59-year-old Claudia Koziol were arrested and charged with forging work invoices in connection with a construction loan.
The Attorney General alleges the pair worked in connection with Birkland to get loans for work on Birkland's office that was never done.
While only three alleged victims are listed in the complaint filed in court, investigators believe there are many more. How many remains to be seen.
The three arrested Thursday were booked at the Clark County Detention Center. Jeffrey Brown is believed to be out of the country.
One irony in all of this, Cindy Birkland was arrested at a mortgage conference where the head of Metro's Financial Crimes Division was a keynote speaker.
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Banker0679
6480 Posts |
Posted - 05/09/2008 : 08:39:22 AM
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| 22k per month? lol |
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dtabar
304 Posts |
Posted - 05/09/2008 : 08:45:03 AM
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| Ok, this is kind of bs. Loan that the borrower didn't want? WHO THE HELL SIGNED THE DOCS? |
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brandie
2725 Posts |
Posted - 05/09/2008 : 08:55:58 AM
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| 3 down and how many more scumbags to go? |
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fsboguy
3354 Posts |
Posted - 05/09/2008 : 09:12:26 AM
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A 4th person still on the run.
Darin, do you need a place to hide out? =) |
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fsboguy
3354 Posts |
Posted - 05/09/2008 : 09:14:05 AM
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http://activerain.com/cindybirkland
You have to copy and paste link. |
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Banker0679
6480 Posts |
Posted - 05/09/2008 : 09:14:43 AM
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uh oh lol
quote:
Originally posted by fsboguy
A 4th person still on the run.
Darin, do you need a place to hide out? =)
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CoralSnake
9199 Posts |
Posted - 05/09/2008 : 09:19:17 AM
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quote:
Originally posted by dtabar
Ok, this is kind of bs. Loan that the borrower didn't want? WHO THE HELL SIGNED THE DOCS?
It seems like it wasnt the borrowers since it says that they didnt know about it. |
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clarenceworley
3255 Posts |
Posted - 05/09/2008 : 09:21:46 AM
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| An attorney buddy of mine called me a couple years ago about a similar type case in DE. |
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racerx
10253 Posts |
Posted - 05/09/2008 : 09:23:36 AM
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quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Eww...scary-looking!!
"Cindy Birkland, president and broker, has been through the highs and lows of the real estate industry..."
I guess she is going through a low right now. |
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goodguy1
1369 Posts |
Posted - 05/09/2008 : 09:25:10 AM
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quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
so in her listing where there is the "contact" link...does she get email in the big house? 
Man, some people are not smart. How much would you possibly have to make to make prison time worthwhile?! You couldn't give me enough...
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racerx
10253 Posts |
Posted - 05/09/2008 : 09:25:25 AM
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quote:
Originally posted by dtabar
Ok, this is kind of bs. Loan that the borrower didn't want? WHO THE HELL SIGNED THE DOCS?
Apparently not the borrowers.
"...the two alleged ringleaders are accused of forging signatures, inflating the assets of unsuspecting customers, even pocketing some of the resulting loan money." |
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CoralSnake
9199 Posts |
Posted - 05/09/2008 : 09:25:47 AM
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quote:
Originally posted by racerx
quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Eww...scary-looking!!
"Cindy Birkland, president and broker, has been through the highs and lows of the real estate industry..."
I guess she is going through a low right now.
That is complete BS!!.
The commercial clearly says that What Happens In Vegas Stays in Vegas!! |
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fsboguy
3354 Posts |
Posted - 05/09/2008 : 09:26:29 AM
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| And she exceeds her clients needs.....as well as their income. |
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Banker0679
6480 Posts |
Posted - 05/09/2008 : 09:27:07 AM
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In other words.....Client needs income.
She puts 22,000. Lender needs proof.....she prints out her own w2s!
YES Ladies and Gentleman....she exceeds her clients income...and still meets her lenders requirements!
Sapphire Mortgage is one of the leading mortgage companies in the nation. With over 18 years experience, Cindy Birkland, president and broker, has been through the highs and lows of the real estate industry and is well versed in how to exceed her clients needs while still meeting those of her lenders. Cindy's life philiosophy, "life revolves around relationships", is how she implements her business and her clients continue to come back because of it.
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goodguy1
1369 Posts |
Posted - 05/09/2008 : 09:28:28 AM
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quote:
Originally posted by CoralSnake
quote:
Originally posted by racerx
quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Eww...scary-looking!!
"Cindy Birkland, president and broker, has been through the highs and lows of the real estate industry..."
I guess she is going through a low right now.
That is complete BS!!.
The commercial clearly says that What Happens In Vegas Stays in Vegas!!
LOL!
maybe it should say.. "What happens in Vegas could put you behind bars if someone finds out"...that's probably more true than we know. |
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mbrownusa
700 Posts |
Posted - 05/09/2008 : 09:30:14 AM
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quote:
Originally posted by racerx
quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Eww...scary-looking!!
Take a look at the link I have posted in the beginning, it has a picture of her getting escorted in handcuffs...I'll be nice about how I think she makes her money now.
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racerx
10253 Posts |
Posted - 05/09/2008 : 09:35:47 AM
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| She's 38?! She looks old enough to be my mother!! |
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fsboguy
3354 Posts |
Posted - 05/09/2008 : 09:36:54 AM
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quote:
Originally posted by mbrownusa
quote:
Originally posted by racerx
quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Eww...scary-looking!!
Hey Cindy, why the long face?
Take a look at the link I have posted in the beginning, it has a picture of her getting escorted in handcuffs...I'll be nice about how I think she makes her money now.
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RANDY P
1847 Posts |
Posted - 05/09/2008 : 09:39:10 AM
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lender had to be in on it somehow. How do you "add" a client to a bank account ignoring the other person?
There are too many holes here. Either way it was blatant.
rjp |
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goodguy1
1369 Posts |
Posted - 05/09/2008 : 09:48:04 AM
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quote:
Originally posted by racerx
She's 38?! She looks old enough to be my mother!!
I was thinking the exact same thing..definitely a hard life that is going to get harder!
Short skirt and funbags...very professional appearance; and to be escorted out of a mortgage conference..That's awesome! |
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mbrownusa
700 Posts |
Posted - 05/09/2008 : 09:54:00 AM
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quote:
Originally posted by goodguy1
quote:
Originally posted by racerx
She's 38?! She looks old enough to be my mother!!
I was thinking the exact same thing..definitely a hard life that is going to get harder!
Short skirt and funbags...very professional appearance; and to be escorted out of a mortgage conference..That's awesome!
Short Skirt: $50
Cleavage Showing Blouse: $35
Getting arrested at a mortgage conference where the head of Metro's Financial Crimes Division was a keynote speaker: priceless
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MisterVA
4613 Posts |
Posted - 05/09/2008 : 10:27:38 AM
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quote:
Originally posted by fsboguy
http://activerain.com/cindybirkland
You have to copy and paste link.
Is there an inactiverain? |
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CoralSnake
9199 Posts |
Posted - 05/09/2008 : 10:31:08 AM
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quote:
Originally posted by mbrownusa
quote:
Originally posted by goodguy1
quote:
Originally posted by racerx
She's 38?! She looks old enough to be my mother!!
I was thinking the exact same thing..definitely a hard life that is going to get harder!
Short skirt and funbags...very professional appearance; and to be escorted out of a mortgage conference..That's awesome!
Short Skirt: $50
Cleavage Showing Blouse: $35
Getting arrested at a mortgage conference where the head of Metro's Financial Crimes Division was a keynote speaker: priceless
LOL! |
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mantixmortgage
2106 Posts |
Posted - 05/09/2008 : 10:47:14 AM
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| is this one of those things where they took the app, then took the liberty of signing everything, including the docs, and funding the loan without the borrower even realizing it? seems to be but the verbage is not clear |
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CoralSnake
9199 Posts |
Posted - 05/09/2008 : 10:48:25 AM
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quote:
Originally posted by mantixmortgage
is this one of those things where they took the app, then took the liberty of signing everything, including the docs, and funding the loan without the borrower even realizing it? seems to be but the verbage is not clear
Thats what i was thinking. |
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williamspeaking
3670 Posts |
Posted - 05/09/2008 : 10:51:52 AM
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quote:
Originally posted by dtabar
Ok, this is kind of bs. Loan that the borrower didn't want? WHO THE HELL SIGNED THE DOCS?
seriously! thats what I got out of it too. "i didnt want the money i forced to take it!" |
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mantixmortgage
2106 Posts |
Posted - 05/09/2008 : 10:55:00 AM
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| its probably like what happened in the valley recently where they had a crooked notary, etc |
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lucky1s
3124 Posts |
Posted - 05/09/2008 : 10:58:55 AM
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| Last time I checked, only the subject borrower shows up on a VOD. |
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mudshark
3669 Posts |
Posted - 05/09/2008 : 11:12:14 AM
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| She should get an extra 2 years for "criminal display of obscenely fat thighs". |
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MisterVA
4613 Posts |
Posted - 05/09/2008 : 12:20:45 PM
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| Sounds just like the Fraud Angels dvd I got from interthinx a few weeks ago. |
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nowbroker
503 Posts |
Posted - 05/09/2008 : 12:29:58 PM
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quote:
Last time I checked, only the subject borrower shows up on a VOD.
See line 13 on the VOD form last revised 12/96
Of course if this line were left blank by the bank, she was in. |
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lucky1s
3124 Posts |
Posted - 05/09/2008 : 12:30:16 PM
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| She probably thought it was a seminar teaching how to commit financial crimes. |
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b-loan
2 Posts |
Posted - 05/11/2008 : 8:43:42 PM
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In Business Magazine article dated December '06.
There is some great stuff here.
Founder betting the mortgage on relationships
By Danielle Birkin
Sapphire Mortgage
Owner: Cindy Birkland
Year founded: 2003
Address: 1701 N. Green Valley Parkway, Building 9B
Type of business: Mortgage lending
Workforce: 5
As founder and president of Sapphire Mortgage - a full-service real estate mortgage firm - Cindy Birkland takes a somewhat different approach to running her business than some of her competitors.
"My No. 1 secret is putting others first, and if the client isn't winning and if the deal does not help them, I do not win," said Birkland, who has been immersed in the banking industry since 1990 and launched Sapphire Mortgage in 2003. "There may be deals that don't really make me any money but if I helped the client change their life for the positive, something good will come for me and it always does. The whole baseline is giving is receiving."
It may seem like a risky strategy, but the tactic has proved both fruitful and lucrative for Birkland, who noted that 99 percent of her client base was created by means of referrals.
"With Sapphire our company is a little unique in that our relationship with our clients is not usually a one-time deal," she said, adding that she focuses on long-term solutions, such as helping clients plan for their children's education or retirement. "Clients are like family to us, and so our services are completely based on building their wealth. Our philosophy is that our client gets to win under any circumstances, so we put them in transactions that are improving their lives and building a lifetime of wealth, and that usually starts with a home mortgage."
Birkland previously worked for five years at a Portland, Ore.-based title company before a friend suggested she try her hand in the finance business.
"I did that for a year then I got recruited for a mortgage company; they promoted me into management and had a Las Vegas office. They put me in Las Vegas and I was a branch manager and then I went out to broker," Birkland said. "But I had more experience than the owners of some of the companies I worked for, and when you work for someone else, there are certain ways of doing business that went against my philosophy of the customer coming first and what we could do to change their lives."
To that end, Birkland founded Sapphire Mortgage, paying $100,000 in cash to get the company off the ground.
"I don't like to have debt," she said. "A lot of people will open a business on credit and then your profit and loss is sideways."
Five employees jumped ship with her to join the company, which quickly grew to meet the needs of an expanding clientele, and had 60 employees by November 2005. But rapid growth led to a decreased quality of customer service, which ran counter to Birkland's business philosophy. So she downsized the staff and rearranged her company's sales/intern administration ratio and client programs to be more efficient and hands-on, and to position Sapphire for long-term success.
It was another bold move, but it paid off.
"Downsizing didn't really affect my business," she said. "I'm in the top 5 percent of income earners in the country, so when I was able to put more into my team and my clientele my personal income went way up and I like it this way. Besides, I'm a producing loan officer and owner, so I do my own loans and run the company, and my favorite thing to do is spend time with the clients. Before I downsized, I spent so much time running the company I didn't get to spend time with clients."
This includes Doug Monroe, the branch manager of a local administration facility.
"Cindy has been my broker for the last year, and she helped me to refinance my existing home and helped me purchase a rental property," said Monroe, who has referred friends and colleagues to Sapphire. "I think she's very aggressive and she's got her eye set on the future and how to get there in the most profitable way. I like the direction she's steered me in, that's for sure. Only time will tell if it will work, but I think she will help me to capitalize on the market in Las Vegas in the next three to five years."
Birkland has no formal training in money management but spends an estimated $35,000 a year on education. She pays a mortgage coach about $2,000 per month and also attends regular summits, where she gleans knowledge from successful entrepreneurs and professionals and plugs the useful information into her business model.
She also has a Realtor partner plan, which includes a twice-monthly coaching program.
"Every deal they give me I give them one back," Birkland said of her Realtor partners. "If I am going to do my best to help people win, it entails giving the Realtors a thank you and the best way I can do that is to send them business."
Karin Wilson, a real estate agent with Century 21 Aadvantage Gold, is among the Realtors who benefit from such a relationship.
"Cindy has been a loan partner for about a year and a half," said Wilson, who added that Birkland also refinanced her mother's house. "We run a mother-daughter team and that was one of the first things we did when we started working with Cindy because we like to try a transaction with someone before we recommend them to our clients. The process was wonderful and Cindy and I noticed we both have the same business model and had so much in common as far as the way we both did business in terms of follow-up and customer service and that was really important in looking for a loan partner. Cindy also does coaching for real estate agents and I have a real estate coach and she has a mortgage coach so we can pass ideas between us."
In addition to partnering with Realtors, Birkland is also committed to networking and does not hesitate to work the phones.
"I make sure that I talk to a minimum of 10 people a day," she said. "I will maybe call five business partners and five Realtors and check on them, and see how I can help them.
If I do that every day, at the end of the week I've talked to 50 people, and at the end of the month I've talked to 200 people. It's a numbers game in this business, so the more people you talk to the more deals you will close. I'm also able to connect people and they are so grateful they send me business."
Birkland cited employee recruitment as the most daunting obstacle to running Sapphire Mortgage.
"I guess the biggest challenge as a business owner is making sure you hire the right person," she said. "It's got to be a good fit I take a little more time when I hire people now. I test all of my employees for the position and kind of do a personality profile with a service that I pay for, because if someone is happy and love what they do they will work really hard, be happier at home and make more money."
Birkland offered the following nuggets of wisdom.
"My advice to business owners would be to watch the bottom line and make sure they are slow to hire and quick to fire, because if you have employees that have developed a bad attitude or are a bad fit it sets a precedent that you settle for mediocrity or that cancer in the office is OK," Birkland said. "That's why it is so important to take you time with people and make sure they are a good fit."
http://www.inbusinesslasvegas.com/2006/12/08/profile.html |
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CoralSnake
9199 Posts |
Posted - 05/11/2008 : 8:45:50 PM
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""There may be deals that don't really make me any money but if I helped the client change their life for the positive, something good will come for me and it always does."
Wow!
What dedication!
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Banker0679
6480 Posts |
Posted - 05/11/2008 : 8:49:48 PM
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| wow.....wonder what made her go to the darkside! |
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Douggie
1254 Posts |
Posted - 05/11/2008 : 8:56:46 PM
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quote:
Birkland, who noted that 99 percent of her client base was created by means of referrals.
Call Cindy she can get you that mansion |
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propertylender.c
776 Posts |
Posted - 05/11/2008 : 9:25:10 PM
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quote:
Originally posted by dtabar
Ok, this is kind of bs. Loan that the borrower didn't want? WHO THE HELL SIGNED THE DOCS?
I was thinking the same. |
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b-loan
2 Posts |
Posted - 05/11/2008 : 10:18:04 PM
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I would think that for $2000 a month her mortgage coach would teach her about fraud.
Sure glad that she has been coaching real estate agents.
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fedupwithfraud
1 Posts |
Posted - 05/11/2008 : 10:51:52 PM
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Interesting article, b-loan. Doesn't it seem like there were portents of doom back in 2006?
*Where does someone who works for a title company get $100k CASH to start a mortgage company?
*Why on earth does someone with no formal education get to toy with people's finances like this?
*"...if the client isn't winning and if the deal does not help them, I do not win ..." Yeah, the deal really helped THEM with YOU getting Lord knows how much kicked back.
*"...but spends an estimated $35,000 a year on education ..." Gosh, those "how to bilk lenders for thousands" seminars sure are expensive!! Thank goodness her lawyer spent at least that much on law school!
*"Downsizing didn't really affect my business..." Fewer people to convince to go along to get along so they don't drop the dime on you, I'm sure. Also fewer people to split the booty with; more for you.
C'mon folks ... it's because of people like this that we're in the mess we're in all over the country. And the "victims" of Birkland and the hundreds like her weren't crying forgery when they signed their check for their split of the ill-gotten gains. Appraisers, real estate agents, loan officers, underwriters ... the joke will be on you when you're in the slammer. Hope you have $35k to learn how to survive in the prison shower. |
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Mandyvilla
2047 Posts |
Posted - 05/12/2008 : 07:16:49 AM
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fedup,
First, welcome.
I think you will find the majority of this group in no way excuse any kind of fraud, just as, very few excuse the ignorance of borrowers that signed these documents. Well, maybe one group I think most of us will feel is exempt, and that is our elderly population. Other cultures revere their elderly, where here, many find them great targets. Shameful.
No one is exempt from responsibility - if we weren't orginating some of these loans, why weren't we speaking up against them? I may have not offered Option Arms, but I sure sent buyers looking for them to a broker down the road.
For the most part when we vocalize about fraud, it's blatant, in your face fraud. Like our friend Cindy, here. We had a few here on BO that more than likely crossed a line most would not, but they didn't like the atmosphere when they couldn't believe not everyone here (or more people) did it.
And when it's not blatant fraud, we try to make the lines that appear a bit fuzzy to some, a bit clearer. This is typically occupancy or eligibility status. Unfortunately, the current environment creates a position of defensive originating - with the borrower paying the price.
Again, welcome. |
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EMScommercial
3736 Posts |
Posted - 05/12/2008 : 07:48:28 AM
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what a shock! dirtballs operating in las vegas!?!?!? amazing....
'loan they didn't want'... i love that.... |
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velecico
2238 Posts |
Posted - 05/12/2008 : 08:39:23 AM
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| I think a lot of us the posters should get off your highhorses , all of a sudden everyone is an angel and never did a stated loan or added another person to an account or app to make a deal fly , I guess no one remembers wholesale reps coming in , tellling you how to add a borrower to a credit card or account to boost assets or scores |
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HMDApproved
67 Posts |
Posted - 05/17/2008 : 03:56:47 AM
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| What U/W approved a loan where a bus boy makes 22k a month? More to it than meets the eye. She is pretty hot though!!! LOL |
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