WARNING! Emerald City Escrow may be hazardous to your closing!

By
Real Estate Agent with Keller Williams Realty

 

I created a post quite a while ago as a warning to all Seattle/Eastside agents and FSBO's about my experience with Emerald City Escrow in downtown Bellevue. It's nice to see that simple blogs in Active Rain can be used as a gateway to reach a large audience, but I had no idea that ECE would later be accused of taking part in the largest mortgage fraud case in Washington State. Since this case is currently pending, nobody can say for sure whether or not these accusations are true or false. My personal opinion is that people do not go to great lengths to compile evidence and file a lawsuit of this caliber if they did not believe they had a strong reason for doing so.

 

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Anonymous
Jet

Good for you Peter Mann!  I hope some people listened to you and the ones that vouched for Emerald City Escrow should be very embarrassed right now.

 

Mar 27, 2009 05:02 AM #19
Anonymous
Peter Mann

Thanks Jet. Yes, I am sure they are embarrassed right now. If not, they should be!

Mar 27, 2009 05:15 AM #20
Ambassador
174,936
Jon Washburn
Seattle, WA

Here is a link to a Google News page that covers this story: http://news.google.com/news?um=1&ned=us&cf=all&ncl=1321043669

Mar 27, 2009 05:16 AM #21
Anonymous
Peter Mann

Thank you for sharing Jonathan!

Mar 27, 2009 05:20 AM #22
Rainer
19,341
Jessica Jones
Sandestin Real Estate - Sandestin, FL
Destin Sandestin 30-A Real Estate

Thanks for sharing the information. Unless people know the issues, they won't be able to protect themselves.

Mar 27, 2009 05:53 AM #24
Rainmaker
560,417
Jo Olson
HOMEFRONT Realty - Kettle Falls, WA
Retired - HOMEFRONT Realty @ LAKE Roosevelt

I watched this on the news yesterday and thought how wild! I really do think there are more of these stories that are going to be hitting the air waves. 

Mar 27, 2009 06:05 AM #25
Rainmaker
1,561,863
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Interesting post for interesting times.  Yes, escrow companies are 'supposed' to remain neutral, but they don't.  I've had so many escrow officers butt in, and do the weirdest stuff.  They should really STOP trying to play real estate agent, and stick to their own job.  I had a listing agent talk to their "preferred" escrow officer about an oil tank on the property my clients were in negotiation about.  Hmmmm . . .

I posted something similiar a while back regarding AHS  . . .

http://activerain.com/blogsview/944891/AHS-American-Home-Shield-Class-Action-Lawsuit

A lot of posts from OUTSIDE Active Rain.  People searching the Internet, and finding the above link.

P.S.  Did you know there is no such noun (person, place or thing) as a "Seahawk?"

Mar 27, 2009 06:08 AM #26
Rainer
84,206
Andrew Haslett
Van Warren Home Inspections, NAHI CRI - Fort Knox, KY
Heartland of Kentuckynulls, Best Home Inspector

Wow.

Amazing story.

It is easy to take advantage of the naive and trusting.

Mar 27, 2009 06:41 AM #28
Rainmaker
167,994
Reba Haas
Team Reba of RE/MAX Metro Eastside www.TeamReba.com - Bellevue, WA
Team Reba, CDPE

http://seattletimes.nwsource.com/html/localnews/2008929122_webmortgage26m.html this is the link to the Seattle Times story that discussed how ING is going after these folks for racketeering.

Mar 27, 2009 07:16 AM #29
Rainmaker
247,189
Brien Berard
Remax Professionals Laurel MD - Laurel, MD
Maryland Real Estate Agents - Laurel Real Estate

This is an amazing story.  I have heard other stories about Title companies, so far it has just been for entertainment.  This one is a little scary.

Mar 27, 2009 07:51 AM #31
Ambassador
697,408
Paul McFadden
Paratex - Seattle, WA
Pest Control, Seattle, WA.

Peter: Thanks. you are doing a service to us all when you expose crooks. Poeple eventually get their just do. Keep up the good work!

Mar 27, 2009 08:15 AM #32
Rainmaker
167,994
Reba Haas
Team Reba of RE/MAX Metro Eastside www.TeamReba.com - Bellevue, WA
Team Reba, CDPE

By the way, that ING Bank lawsuit has now triggered a federal investigation and there are some serious consequences happening.  This was on the cover of today's Seattle Times.  Here is the link:

http://seattletimes.nwsource.com/html/localnews/2008932579_mortgage27m.html

 

Mar 27, 2009 08:20 AM #33
Rainer
179,189
Mark MacKenzie
Phoenix, AZ

Let's hope if there is indeed any wrong doing that those responsible for it are brought to justice.

Mar 27, 2009 02:56 PM #34
Rainmaker
525,364
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Peter, I am sorry to hear about this good company which may now have a problem.  I have seen it happen with other smaller escrow companies in the last few years.  The officers and employees can be nice enough, but that doesn't mean that the owners/manager/bookkeepers are doing everything lawfully.  Unfortunately.  Please keep us updated -- isn't there a state department that investigates escrow companies?

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown

Mar 27, 2009 04:07 PM #35
Anonymous
Arnold Camps

Great job Peter! Great that you didn't stop posting about this comapny. I actually was in a leagal suit against Vlad Baydovskiy a year ago over property right s in Medina.

 

Thanks Everyone for being part of the sucess of Active Rain

Mar 28, 2009 05:17 PM #37
Anonymous
Dave Francis

Just a quick note. Peter brings up a very timely issue, and that is dishonesty in our professional midst. To answer the question of regulatory bodies, yes, there is in the State of Washington a regulatory entity which has done a great deal in keeping dishonest escrow/mortgage brokers at bay. DFI, or the Department of Financial Institutions not only regulates escrow and mortgage broker practices in this state, but does an amazing job at enforcement.

I left their link in an earlier post, but I also want to reiterate: If any escrow officer, employee, or even signor ever tries to hide something from you or your customers, they are not the company for you. The laws and regulations are very straightforward in this industry, as are the fiduciary responsabilities that come with it. Also, any escrow company that deals with the same alleged conduct of Emerald City Escrow, will get caught. Guaranteed. Shame on them for giving yet another black eye to an industry I have loved being a part of for so many years....shame

Mar 30, 2009 06:47 AM #38
Anonymous
Matt

That person adding info with the terrible mastery of the English language is Vlad.  He used to joke about telling people he had been in the business for 22 years, the number he heard in Boiler Room.  Oh well, guess he gets to spend the next few learning to put on the lipstick.  Pucker up, big boy....

And when you put it in writing...its libel.  Slander is when you say it out loud.  Just FYI....

 

I actually ran this guy's entire California operation.  You will never meet a bigger scumbag than Vlad Baydovskiy.  (Its not libelous when its true....  :-))

Feb 25, 2010 06:55 AM #42
Anonymous
Peter

Thanks for the comment Matt ;-)

Feb 25, 2010 07:01 AM #43
Anonymous
zxz

Vlad Baydovskiy and his accomplice suck..they helped to bring the economy down..and now the hard working people have to support him and his family and friends..that is just unfair!!!!!!!

May 09, 2010 08:28 AM #44
Anonymous
Rita

Can someone share a picture of Vlad Baydovsky- I believe he changed his name/identity.

Thank you!

Mar 18, 2016 11:05 AM #45
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Peter Mann Seattle-Bellevue Real Estate Agent
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