David Saks

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Education & Training - (retired) - 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

2014 

Former Collateralized Mortgage Obligations Bond Trader Sentenced in Multi-Million-Dollar Securities Fraud Scheme U.S. Attorney’s Office December 16, 2014 District of New Jersey (973) 645-2888 TRENTON, NJ—A former collateralized mortgage obligation (CMO) bond trader was sentenced today to 30 mont...
12/17/2014
Former GMAC and Countrywide Loan Officer Sentenced to Five Years in Prison for Role in Mortgage Fraud Conspiracy That Caused $7 Million in Losses to Lenders U.S. Attorney’s Office December 16, 2014 District of Connecticut (203) 821-3700 NEW HAVEN, CT—A former loan officer at GMAC Mortgage and Co...
12/17/2014
      Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Rachel Dollar is a California attorney who represents lenders in mortgage related litiga...
12/16/2014
Convicted Ponzi Schemer Eliyahu Weinstein Sentenced to Additional 24 Months in Prison on New Fraud and Money Laundering Charges Already Serving 22 Years for Previous Fraud Scheme U.S. Attorney’s Office December 15, 2014 District of New Jersey (973) 645-2888 TRENTON, NJ—A man already serving 22 y...
12/16/2014
        Ten Commandments For Avoiding a Predatory Real Estate Agent     1. Don't trust any real estate agent that would steer you into using any particular vendor, home inspector, lender, etc. 2. Don't assume that you can't qualify for a loan if you refuse to use any real estate agent's vendor, ...
12/15/2014
real estate fraud: Controller for The Mortgage Store Pleads Guilty to Bank Fraud - 12/12/14 07:55 AM   St. Peters Man Pleads Guilty to Bank Fraud     ST. LOUIS, MO— Mark Avalos pled guilty to bank fraud charges relating to his work as the Controller for The Mortgage Store, Inc. (TMS), in 2008. A...
12/15/2014
A broker decided to sell a lot he owned, which was 60 feet by 120 feet, for the price of 10 dollars per square foot. The purchaser would assume a paving lien of 25 dollars per front foot. What price would the purchaser have to ask for the lot if he wanted to sell it at a profit of 1500 dollars a...
12/14/2014
The market value of a property is 600 thousand dollars. It's assessed for property taxes at 60% of it's market value. The property is taxed at the rate of 55 mills on the assessed value. What is the annual property tax paid for this assessment ? The answer is poated below the wildlife photo. Ple...
12/14/2014
The commission rate for selling a condominium was 5% of the first 100 thousand dollars and 2.5% for anything over that amount. The brokers commission was $7,300 What did the condominium sell for ? Answers below the wildlife photos. Please take your time. A. $192,000 Let's see what the commission...
12/14/2014
A man bought a farm for 880 thousand dollars and sold it for one million dollars. The expenses he incurred from the sale of the farm were 10 thousand dollars. His profit was what percent of his cost ? Take your time. The answer is below the wildlife photo. A. 12.5% Let's first subtract 880 thous...
12/14/2014
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David Saks

May God Bless You, Always. David
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