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BEWARE OF NATIONWIDE FINANCING - JUST ANOTHER SCAM!!!

DEAR FELLOW REALTORS, I JUST RECEIVED THE BELOW EMAIL TODAY FROM DON FERGUSON AT NATIONWIDE FINANCING. THIS EMAIL IS IN THE SAME FORMAT AND HAS EXACT NUMBERS AND INFORMATINO THAT MATCHES THE OLD "MONEY TREE FUNDING" COMPANY THAT USED TO PREY ON REALTORS AND SELL BOGUS LEADS AND NEVER DID ANYTHING THAT THEY PROMISED TO DO. IF YOU RECEIVE AN EMAIL LIKE THE ONE BELOW FROM NATIONWIDE FINANCING, TRASH IT OR FORWARD IT TO THE AGENCIES THAT HANDLE SCAMS. THIS "DON" MUST HAVE TAKEN THE PLACE OF THE INFAMOUS "ROBERT BECK" WITH MONEY TREE FUNDING. PLEASE BE AWARE!!!

COPY OF EMAIL THAT I RECEIVED IS BELOW:

Re: Clint Bolton extra clients, 818-444-7315 ext.8028‏

From:	Don ( Your Friendly Agent ) (Agents_Nationwide@xmr3.com)

Sent:	Mon 11/10/08 10:03 AM
To:	bolton86@hotmail.com

Dear Clint,

I was referred to you as an active real estate agent working with buyers and sellers.

We have a few buyer applications in Hernando, MS 38632 that have been pre approved for a loan. These applicants are looking to buy a house within the next 0-180 days and have been verified. They need a real estate agent to find them a property!

Can you call me at (818) 444-7315 Ext. 8028 to give you more information about these applications?

Thank you,

Don Ferguson
Sales Manager, Nationwide Financing - California
(818) 444-7315 Ext. 8028

Your Phone Number: 662.429-3015

This email has been sent on behalf of NationWide Financing

Posted by Clint Bolton on 11/10/2008 10:29 AM

Comments (29)

ONLINE LEAD SCAM in the ActiveRain Channel

scams, nationwide financing, money tree funding, beware, real estate leads scam, bogus leads, warning

Post is included in group: RE/MAX Active Rain Bloggers

29 Comments on BEWARE OF NATIONWIDE FINANCING - JUST ANOTHER SCAM!!!

NOV

2008

I get these all day long. Apparently, some suckers fall for these scams or they wouldn't exist.

SAD BUT TRUE RANDALL... THANKS FOR THE COMMENT!

They're still sending out this crap?

I have heard horror stories about this problem. Nationwide financing companies sometimes are not able to deliver on their promises!

Case in point: A buyer was getting antsy about their financing and felt they wanted to shop around because they had heard of a national company who could get them a better rate, closing costs, etc. So when it comes time for closing, the nationwide company could not close the loan. There was no real loan to begin with.

Thank goodness for the local lender who they had originally gone to for assistance. He was able to put their old loan back together and get the loan closed.

Beware of promises that you get from lenders from Nationwide companies because you may be sadly misinformed.

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

NOV

2008

I was a victim of the company called Moneytree Funding out of California. I paid upfront for leads I never received. They would not give me a refund and I am still disputing with my credit card company. Also, I filed a complaint to the Better Business Bureau. Do you know any other names they are using?

NOV

2008

This company is a complete scam and I fell for it. After doing business with some reputable lead companies I fell for this. Every lead Nationwide/Money Tree sent me was bogus. Most of them had names and phone numbers that did not match.

The people I called, assured me that they had never gone on line or in person to apply for a loan. Many of them were elderly. I asked them their names and none of them matched the leads I had been given.

None of the people I contacted were thinking about moving or buying a home.

Nationwide/Money Tree replaced these leads with equally bogus leads and then told me, "it's a numbers game." They are totally fraudulent leads and no amount of calling can turn folks into buyers if they are not in the market for a home.

Nationwide refused to refund the $350 of my initial pre-payment. I had to cancel my credit card number and now I am working with the fruad department at my credit card to get my money back.

Stay away from these guys. And always check them out on line first. I wish I had.

DEC

It is hitting again this week. I was going to try them out for 3 leads - losing $105 was not too bad but they wanted to give me all 10 - I don't have $350 burning a hole in my pocket in this market. Thanks for all the postings- I am glad I checked before sending any money in.

DEC

Thanks for the blog. I googled the number just now because I received the auto-fill (your name here in bold, your city here etc) email this morning. JUNK.

Thanks for the warning, I'll give my agents the heads-up to avoid these guys!

Kim

RE/MAX EXCEL

DEC

Please be aware that the name has changed ( according to the offer I just received via fax ) It is now JOHN GATES, Sales Manager, Nationwide Financing,,,,,,,,,but phone number is the same ( 818 ) 444-7315 Ext. 8028 and he even includes his picture these days. What a bogus bunch of crooks !

DEC

I got a buyer referal email almost identical to Clint's email from someone named "Susan Michell" with this same number & ext. yesterday, too. Today, I decided to give her a call and Don Ferguson's voice mail answered, so I got suspicious and hung up. Then I go online to check on google for 818-444-7315, x2028. Sure it is, I found all you guys' comments. I'm glad I checked. Thank you ALL.

DEC

This is the latest person that I just got an email from. Thanks for the heads up.

Dear Rich,

I was referred to you as an active real estate agent working with buyers and sellers.

I have some referrals in your area XXXX which I would like to refer.

Can you call me at (818) 444-7315 Ext. 8028 for more information about these clients?

Susan Michell
(818) 444-7315 Ext. 8028

Thank you for taking the time to share this with all of us. It is really something else about these companies. Have they no shame?

DEC

Hello He has hit Indiana now, He called me yesterday and today. So I decided to do my research and guess what I found you.. Thank you all for the Information. I will not be answering that number again... Happy Holidays everyone

DEC

What a wonderful post. Bless you and yours this holiday season and have a happy NEW YEAR.

Terry Miller

JAN

Now it's "Sabrina Lacey" -- same number and extension . . . 818-444-7315 ext. 8028, Nationwide Finances / Nationwide Financing . . . same story. I just received a template email (in my junk mail folder) from them as others are seeing offering me a lead in my area.

Google the company or the number, check out sites like Ripoff Report . . . you'll find the complaints piling up, including from earlier manifestations of the same scheme.

JAN

I just had an email show up from Sabrina Lacey as well. My spam filter caught it.

JAN

I got the same e-mail this morning. Here is a copy of it:

Dear Patricia Bradley,

My name is Sabrina Lacey. I am from Nationwide Finances.

I have clients who are looking to sell and buy a home in your area Davenport, unfortunately I cannot help them.

Can I refer these clients to you? Please call me in my office 9am-3pm.

Regards,

Sabrina Lacey
(818) 444-7315 ext. 8028

I'm glad I checked this site. I left everything for the FTC to investigate.

JAN

Do not even think about entering into a contract with this corrupt, dishonest and dreadful company that goes by many names, first as Nationwide Finances on their website: www.nationwidefinancing.net. or Nationwide Financing and Nationwide Financial, both of these names are on the contract I wish I had never signed with them.

For starters I was tricked into believing they were part of Nationwide Financial Services Inc. The leads for Real Estate buyers were in its majority old, people that had already purchased their home months before, and some were even names of other real estate agents. They charged me for an extra month after I sent them the request to stop these charges, I was forced to leave countless messages trying to resolve the situation, they never returned any calls, and when I finally reached the customer service department, their manager (who did not want to identify herself) was rude and said they would not reverse the charges, her childish excuse being that I sent it to the wrong fax number, never mind that it was sent to the fax number shown on the original contract for those purposes. I have organized all my paperwork to prove my case and, unless I get my money back, I intend to take them to court.

FEB

Thanks Clint,

This is the newest:

Dear Valerie Wahl,

I have clients in your area who are looking to purchase and sell their properties.

The Surrounding areas of:
City: Saint Petersburg
State: FL
Zip: 33706

May I refer these clients to you?
If so, please call me (818) 444-7315 Ext. 8028

Peter Taylor
(818) 444-7315 Ext. 8028

Phone #: 727.360-4900

If you would prefer not to receive further messages from this sender,
please click on the following Internet link and confirm your request:
Click here for www link -or-
Click here for e-mail
You will receive one additional e-mail message confirming your removal.

FEB

Here is one more for you, my office received a hand written fax that reads;

Dear Realtor,

My name is Marthe Johnson.

I have clients in your area.

May I refer these clients to you?

Martha Johnson

Please call me!

818-444-7315 ext. 8029

I figured it was a scam, but thought I would at least call to be sure. The extension she gave states that the voicemail box is full. Google broght me here. Good luck

FEB

If they were scam "artists" they would be smart and change their ph number....no art here. Scam idiots.

I have clients in your area who are looking to purchase and sell their properties. The Surrounding areas of: City: Zephyr Cove State: NV Zip: 89448 May I refer these clients to you? If so, please call me (818) 444-7315 Ext. 8028 Peter Taylor (818) 444-7315 Ext. 8028

FEB

Their fax # is 818-444-7362, I plan to fax them a lot a garbage.

MAR

This company is a complete rip-off. The latest name used is Amanda Hilton. I echo all the above comments. They now work only via check, and if you send them a check, they'll do unauthorized ETFs. I lost $1,000 on the deal. I assume there are legitimate lead services out there, but this is not one of them.

MAR

Hello Everyone the following article is from our newspaper today. I thought you might want to see..

Munster man among 24 defendants in mortgage fraud sting

By Times Staff and Wire Reports | Thursday, March 26, 2009 | (No comments posted.)

CHICAGO | A 48-year-old Munster man is among 24 people indicted Wednesday in connection with what federal officials describe as a major crackdown on mortgage fraud in the Chicago area.

Attorney James Kotz is charged with mail and wire fraud in connection with the investigation, which was made public Wednesday as federal agents fanned out across the Chicago area to arrest those charged in 10 indictments, nine of which were the product of Operation Madhouse, an undercover investigation conducted by the FBI, the Department of Housing and Urban Development and Office of Inspector General, according to a U.S. Department of Justice news release.

Kotz prepared a power of attorney for a home seller, knowing that the sale of a home in the 4100 block of West 89th Street in Hometown was between people using false identities to defraud lenders, the news release said.

Chicago resident Babajan Khoshabe, 68, and 48-year-old Chicago resident Sunil Kaushal are named as Kotz's co-defendants and each is charged with mail and wire fraud.

According to court records:

Khoshabe, a mortgage broker and the owner of Nationwide Mortgage Co., met with four people -- one of whom was an undercover agent posing as a potential buyer for the Hometown property. Federal authorities said Khoshabe agreed to process a fraudulent mortgage as long as at least six payments were made before the buyer defaulted, which would ensure Khoshabe would not be held accountable. Khoshabe also requested that a sales contract be obtained.

Kaushal, a loan officer at Nationwide, is accused of preparing false employment and rent records that showed the undercover agent living in the 6200 block of S. Spaulding Road in Chicago.

All three men are accused of preparing and submitting a loan application and supporting documentation containing false statements and documents in April 2008 that resulted in Equity Mortgage Corp. lending about $144,000 to the undercover agent.

During Operation Madhouse, undercover agents posed as straw buyers of houses, seeking assistance in financing and closing fraudulent mortgage transactions. In each of the nine cases, multiple real estate professionals worked to carry out the frauds, the news release said.

The nine loans involved in the indictments totaled about $1.4 million.

In the tenth case, which did not result from the undercover investigation, the defendants are alleged to have fraudulently obtained about $4.2 million in loans, causing losses in excess of about $1.1 million.

APR

I was totally mislead and scammed by Nationwide Financing. I would like to have my money back. How can I proceed with this. This is awful!!! Some must be held accountable!

I am a new real estate agent from New York and I would appreciate if someone would email me as to how I can get a refund of the fees I paid to NationWide. They also took money from my bank account without my permission. I want them to pay for what they did.

Could you please give Ruby Ford my information?

I've been thinking about taking them to small claims court and try to recoup my losses. Maybe she would like to join in.

Thank you,

Aida

702-523-4060

Here are the two people who handled my account.

Cathy Campo and Hudson. I did not get the first name of Hudson. I forwarded all communications to my attorney.

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