David Saks' Blog

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Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2013 

Augusta Man Sentenced to 15 Years in Prison for Fraud at Funeral and Nursing Homes U.S. Attorney’s Office July 02, 2013 Southern District of Georgia (912) 652-4422   AUGUSTA, GA—Bryant Keith Evans Webb, 44, of Augusta, Georgia, was sentenced on June 27, 2013, by United States District Court Dudl...
07/02/2013
Sevierville Developer Receives Five-Year Sentence for Wire and Bank Fraud Conspiracy and Money Laundering in $6 Million Mortgage Fraud Scheme U.S. Attorney’s Office July 01, 2013 Eastern District of Tennessee (865) 545-4167   KNOXVILLE, TN—Jeffrey Whaley, 49, of Sevierville, Tennessee, was sente...
07/02/2013
Former Manager of Local Title Company Indicted on Federal Fraud Charges U.S. Attorney’s Office June 28, 2013 Eastern District of Missouri   ST. LOUIS, MO—Elizabeth Glosemeyer, of St. Louis County, was indicted on two counts of wire fraud. According to the indictment, while the manager of Lenders...
07/01/2013
                                                    #2250 A land contract is usually acceptable for a seller second which will supplement an institutional loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False A land contrac...
06/30/2013
                                                         #2249 The rule of thumb, when qualifying a VA loan applicant, is that debt to income ratio should not exceed 55%. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False The ...
06/30/2013
                                                        #2248 The VA will consider and allow secondary financing only if the total amount of the loan to be financed exceeds the appraised value of the property. Is this fact true or false ? Please remember to take your time. The solution is posted ...
06/30/2013
                                                         #2247 A veteran is applying for a 400,000 dollar loan, which is the purchase price of the home, and has full VA entitlement. The home was appraised at 425,000 dollars. The required downpayment for the loan is 1.5% of the total loan amount, ...
06/30/2013
                                                     #2246 Prepayment penalties are always a condition of underwriting a VA loan. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False Prepayment penalties are not allowed with a V...
06/30/2013
                                                         #2245 A veterans entitlement may only be restored after his or her VA loan is assumed and the one who assumes the loan is not a veteran. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A....
06/30/2013
                                                     #2244 A veteran may receive a VA guaranteed loan only on a single family residence. One to four unit unit residences are ineligible. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False A...
06/30/2013
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David Saks

Broker / Industry Analyst
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