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Sign of the Times: Plead My Case for Fraud

By Mike Jones

Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

January 18, 2008 10:34 PM

High visibility, low cost per view. Intersections are a great place to advertise.

The usual fare is a cardboard box advertising a yard sale. This wasn't your usual sign. This one got my attention.

Target market: A good lawyer.
Incentive to call? Up to half a million dollars if you win the case.

What will you bet that the lawsuit advertised in this busy Tucson, AZ intersection involves real estate? I didn't call, so I don't know.

But if it does, the list of defendentants likely includes a realty company, a real estate agent, a mortgage company, and a loan officer. More than ever, the real estate industry requires the highest standard of honesty and integrity.

It drives home a simple thought. If I have to ask myself the question, "Is what I'm doing ethical?," it probably isn't.

And that's the real estate opinion of this Tucson, Arizona mortgage lender,

Mike in Tucson

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Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Elizabeth,

Thanks for commenting. Come back any time.

Kate,

We see them everywhere. I think the code enforcement people aren't as strict in Tucson as in some other locales.

Terry,

That would make an interesting story for your next post!

Lenn,

Unlike the case in your fair state, Arizona requires zero training for loan officers. Zero testing for loan officers. Zero standards to get hired as a loan officer. Zero oversight at the state level for loan officers. When a loan officer commits fraud, and they do, it's the broker or banker that takes the hit, pays the fine, or in some cases goes to jail. The perp moves across town, or across state, and goes right back to work. There ought to be minimum standards; it's much harder to get a license as a cosmetologist in Arizona than to become a loan "officer." Pardon the rant; the bad ones in AZ pull down the industry in the eyes of the borrowing public.

Dan,

So who ya' gonna call?

Jan,

Now there's an idea!

Natalie,

Right you are. Thanks for commenting.

Mike in Tucson

Jan 19, 2008 03:26 AM

Mark Horan

Resident Team Realty, LLC & Toni's Property Management LLC - Saint Cloud, FL

"The Resident Chef" - Resident Team Realty LLC &

Mike in Tucson- Bandit signs are on the way out here. They fine you for putting them out in intersections. But that sign is interesting. I hope it doesn't involve Real Estate.

Jan 19, 2008 03:59 AM

Charlottesville Solutions

Charlottesville Solutions - Charlottesville, VA

I got a kick out of that one.... you gotta admit it is cheap advertising! lol

your friend in Charlottesville

Jan 19, 2008 05:50 AM

Keith Hoffman

1st Advantage Mortgage - Lombard, IL

1st Advantage Mortgage - Residential Mortgage Specialist

Love It!

Jan 19, 2008 05:59 AM

Joey Remondino

RE/MAX Preferred Properties - Vienna, VA

Broker, GRI, E-Pro

That is funny, wonder if it will work for real estate. Thanks for the picture:)

Jan 19, 2008 06:02 AM

Steve Shatsky

Dallas, TX

I recognize that this repsonse is somewhat off topic, but I have to say that every time I see these types of signs I am always amazed that they manage to stay up for days and weeks and months, but heaven forbid I was to put up an "Open House" sign in the same manner and location, the code enforcement officers would have it torn down (and probably be issuing me a fine) within about an hour of it going up!

Jan 19, 2008 06:03 AM

Dawn Heinemann

Long Realty Company - Tucson, AZ

The Peter DeLuca Team

I heard about someone in Tucson standing on the corner with a sign that said something like "Will Sell Homes for Food". Not quite the image I want to project...

Tucson Dawn

Jan 19, 2008 09:12 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Tucson Dawn,

Nor do you project such an image. I hear good things about you.

Steve,

They've achieved their goal, those sign police.

Joey,

You're welcome!

Keith,

Glad to oblige!

Charles,

So did I!

Resident Mark

Me too!

Mike in Tucson

Jan 19, 2008 01:09 PM

Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

Mike- Now my eyes have to get used to going to the right to read your reciprocated comments?

I just saw an article where an attorney just opened up an office that niches in helping buyers break their contracts and get their money back, mostly dealing with the condo deposits and builders. Katerina

Jan 19, 2008 03:05 PM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Katerina,

Commenting on the right lets you scroll down fast. I've been doing this for months. C'mon. My eyes are a lot older than yours. LOL

Mike in Tucson

Jan 19, 2008 03:19 PM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

$500K is quite the incentive, but whether it involves real estate, personal injury, or a coffee burn from the local drive through, how much do you want to bet the damages claimed aren't anywhere close to actual damages. Much like a seller that thinks his house is worth much more than it is and watches it languish on the market, this fellow has probably phoned every barrister in Phoenix looking for someone to represent him and with no takers, took to putting up a sign on the street corner.

Jan 19, 2008 05:39 PM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Jesse & Kathy,

I think you're right, and I like the analogy. (Phoenix is 100 miles away, though. LOL)

Mike in Tucson

Jan 19, 2008 09:37 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Mike, I'm amazed. You say you are for ethical action, but you commented to the commenter who admitted to uising illegal signs that you're glad they are working for him. What gives? And what kind of "advice" is someone going to get from someone who uses illegal signs? OMG! We need higher standards.

Bill Roberts

Jan 21, 2008 02:15 AM

Mike Norvell Sr

Morris Williams Realty - Leesburg, FL

Norvell Consulting Group

Hey Mike, that has been a favorite rule of thumb of mine for years....if I feel a need to look around to see if anyone is looking,, then I should not do it...Good post...Cya

Jan 21, 2008 02:24 AM

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Mike,

Thanks for commenting. Come on back any time.

Bill,

Thanks for the prayer. I can use it, and you can use the practice. LOL (bandit signs aren't against the law everywhere, are they? I'd give him the benefit of the doubt.) Thanks for commenting.

Mike in Tucson

Jan 21, 2008 01:20 PM

Bill Roberts

Brooks and Dunphy Real Estate - Oceanside, CA

"Baby Boomer" Retirement Planner

Mike, Yeah, I think they are illegal most places, that's why they call them bandit signs. But I will give you the benefit of the doubt.

Take care.

Bill Roberts

Jan 21, 2008 02:12 PM

Billnulls Blog Florida Realty Professional

Charles Rutenberg Realty - Clearwater, FL

AHWD

excellent point made!

Jan 24, 2008 06:20 AM

Membership Cancelled

Pullman, WA

We often hear "buyer beware", but sometimes it should be "business beware"! I appreciate your quote, it makes me think about black, white and grey...what is grey?

Feb 12, 2008 07:56 PM

Anonymous

Rich McCaffrey

so-called Bandit signs are illegal wherever taxpayer money supports the roadway . That means exactly any public thoroughfare. And 49 of the 50 States have laws against them, and about every local municipality has a code and a fine.

But why would you respond to a 'professional' posted illegally on a light pole ?

Think about it. Moe, Larry, who was teh other guy ?

The localities are cracking down and fining ... and all they have to do is call your number on the sign or email your listed website and trace the ID.

Not worth it to post or respond. Most of these people are uninsured, on the edge of their license, financially desperate, or a ReMax Reality

Mar 18, 2009 01:35 AM

#36

Mike Jones

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ

Mike Jones NMLS 223495

Rich,

The person who put up the sign is not the professional; he's LOOKING for a professional to take his or her case. You're right about Bandit Signs, tho.

Mike in Tucson

Mar 18, 2009 02:04 AM