Senator Boseman - Liar Loans

LIAR LOANS

A category of mortgages known as low-documentation or no-documentation mortgages that have been abused to the point where the loans are sometimes referred to as liar loans. On certain low-documentation loan programs, such as stated income/stated asset (SISA) loans, income and assets are simply stated on the loan application. On other loan programs, such as no income/no asset (NINA) loans, no income and assets are given on the loan application form. These loan programs open the door for unethical behavior by unscrupulous borrowers and lenders.

These loan programs are designed for borrowers who have a hard time producing income and asset verifying documents, such as prior tax returns, or who have untraditional sources of income, such as tips, or a personal business. These loans are called liar loans because the SISA or NINA features open the door for abuse when borrowers or their mortgage brokers or loan officers overstate income and/or assets in order to qualify the borrower for a larger mortgage.

Low-documentation mortgages usually fall into the Alt-A category of mortgage lending. Alt-A lending depends heavily on a borrower's credit score (FICO score) and the mortgage's loan-to-value ratio (LTV) as tools to determine the borrower's ability to repay the mortgage.



Trustee - A third party appointed to represent the investors’ interests in a
securitization. The trustee ensures that the securitization operates as set forth
in the securitization documents, which may include determinations about the
servicer’s compliance with established servicing criteria.




A lot of people are in dire financial straights because they got sucked into what is now being called the mortgage crisis.

Now that the problem is being examined carefully, a lot of fraud is being blamed as being a contributing factor to the entire mess. The problem is that the fraud aspect of the mortgage crisis is hardly over. Mortgage scams designed to take advantage of people in financial trouble are flooding the Internet and even the classified section of local newspapers.

Mortgage fraudsters for the most part don’t have a conscience and could care less if they steal from your grandparents, neighbors or you!

The FBI, who has put more than a few of these people behind bars in recent history is using the intelligence gathered in their investigations to reach out to the public on how to avoid becoming conned with promises of a new beginning, or rescue from their current dilemna.

“And while some of these steps may require you to do a little extra work now in the long run it may save you aggravation, money, and even your house,” according to Special Agent Scott Broshears, a mortgage fraud supervisor with the FBI.

The first recommendation is to get referrals and then check out the licenses of real estate and mortgage professionals with government (state and local) regulatory agencies.

They also recommend that you do your own research on what homes have been sold for in your area. Checking out tax assessments is one way to do this.

Beware of too good to be true mortgage deals, especially using a no money down gimmick.

Never let anyone talk you into making a false statement on a mortgage application. This is how a lot of people ended up with mortgages they couldn’t afford in the first place.

Don’t sign a blank document or a document with blank lines. Something could be added later. Read everything thoroughly and if you don’t understand everything completely get legal assistance.

Don’t get conned into paying an upfront fee to get out of mortgage trouble. Be especially wary if these solicitations come from e-mail or web advertisements. You will likely be out the up-front fee and in the same boat as before you paid for the assistance.

In more sophisticated upfront (advance) fee schemes involving foreclosure fraud, victims are even talked into signing over their property. The victim loses the upfront fee, their house and still owes their mortgage when this occurs. Advance fee fraud has been around for centuries and is merely a false promise of something that is too good to be true in return for an advanced payment.

On a final note, the FBI recommends that if you are facing foreclosure, the best thing to do is to see if your lender will work for you.

Agent Broshears and the men and women working with him have seen their case-load with mortgage fraud triple in the recent past. By sharing these tips, learned from real life investigations, they hope to make their job easier and see a few less people victimized by this growing phenomenon.

If you need more information on mortgage fraud, the FBI has a page on their site dedicated to this subject.

Sen Boseman's Bill Would Kill Children Says Governor

In only the 9th time since being Governor, NC Gov. Mike Easley stuck down the Bill proposed by Sen. Boseman by vetoing it Sunday, the day before Sen. Boseman's fake fundraiser in Raleigh.

The Bill Easley sacked would have allowed anyone with a drivers license to tow a 9 and a half foot wide boat on the roadways, a ten foot boat on weekends and holidays. Currently the law requires that any boat over 96 inches, any boat over eight and a half feet requires a special permit. Meaning someone with a CDL.

The Bill pushed into law has little effect on the Sunday recreational boater. This Bill would have loosened regulations on the boating industry. Can you imagine this law being in effect for the transportation of mobile homes?

But worse would be the dangers the Bill would create by allowing Joe Boater to wrench his huge houseboat out of the water after a day on the lake, swilling down a few, stacking the boat to his thread worn tires on his rusty old work trailer, ratchet strapping it down and driving it 55, 65, 70 MPH down the highway. Easley told Boseman he wanted blood alcohol levels down to .04 for people towing these mammoth boats up to 10 feet wide but she failed to include it, didn't want to hinder the freedom of those wanting to "get'er done!".

Easley didn't like the Bill, he claimed it was dangerous, in fact he said

"I sincerely believe that this bill puts families at risk on the highways and would result in death or serious injury,"

and this

"I am deeply concerned about 9 1/2-foot boats meeting a school bus,"

Currently, permits are required for boat-trailer combinations more than 8 1/2 feet wide, and the boats cannot be towed on Sundays or holidays or at night.

Easley urged the General Assembly to take up the measure again in January "when there is time to thoughtfully avoid the consequences of this bill."

Senator Boseman One of a Kind

The Wilmington Journal is still on Senator Boseman's behind jabbing a pointy stick in the fleshy meat and drawing a bit of blood because the senator has promised and failed to deliver loyalty to those African Americans who pushed her over, beating Woody White in an extremely close election. With 40% of Boseman's votes coming from the black community, Sen. Boseman repays them by using the "N-word" around a child living in her home.

I was watching the show Boondocks this week, in the show a white teacher uses the word "nigga" as he addressed a black kid. Perhaps Julia's reason for using the word has to do with a belief that she considers herself (nearly) black because she can "identify" with vocal hate against African Americans by being a lesbian (dyke), the (I was born gay) discrimination and can justify the use of the word "nigga" instead of "nigger" as a term of hip association. "Bitch you always be my nigga!"

This week, the Journal has once again reported on the "N-word" issue by interviewing one of Boseman's ex-partner's attorneys.

"[Ms. Dunn] knew that unless someone was willing to testify about what their concerns were, and what the fears were for [Boseman's adopted child], that the court would not be aware of that information. It wasn't easy for [Dunn], and she has every reason, really, to not participate because of her loyalties and her friendships with Ms. Boseman. But she did it because she felt like it was the right thing to do for [the child]."

On cross-examination with Boseman's attorney, Jim Lea, Dunn maintained that Boseman uttered racial slurs, that "Melissa always got on her about it," and Boseman "thinks she's better than black people"

If attorney Lea was trying to disprove Dunn's sworn allegations against his client, his cross-examination, according to the court transcript, only helped to enhance Dunn's contention.

Attorney Fritscher said the numerous use of racial slurs by Boseman in front of the minor child was just "one of [Dunn's concerns." Dunn also gave sworn testimony during the child custody trial that Sen. Boseman would also drive after drinking excessively.

Fritscher said Boseman's erratic behavior "several times had come up in my conversations with Melissa in terms of things [Boseman] would say in front of the child that Melissa thought was disturbing."

Fritscher said Jarrell alleged that her former companion used "all offensive language" around the child.

"Melissa would not expose the child, or have anyone else expose the child in that way. She wouldn't tolerate it. That's not how she raises [the child]."

When asked if she was surprised by the allegations of foul language from Sen. Boseman around the child, attorney Fritscher replied, "I was taken aback for a number of reasons, but also not shocked in terms of what I already knew to be concerns about Ms. Boseman."

But then, almost as soon as she said that she wasn't shocked, attorney Fritscher then immediately amended her comment.

"I was shocked that took place in front of the child," Fritscher said declaratively.

Fritscher said Bobbie Lou Dunn had nothing to gain by getting involved in the Boseman-Jarrell trial.

In fact, the young woman had a lot to lose.

"Ms. Dunn is in a same-sex partnership; she has children with her partner, and she was the non-biological parent of those children, so there were some legal repercussions in this case that could have affected her legal status negatively, and yet she still felt like it was important enough to testify about her concerns," Fritscher said.

I find it disturbing that John Edwards can admit to cheating on his dying wife and Boseman can't admit to saying a racial slur.

Raise your hand if any of you have NEVER intentionally said a racial slur in a mean spirited manner. Only one hand? Okay Senator Boseman is the ONLY person in the room that never said the word nigger.

MIZZ BOSEMAN'S PR CAMPAIGN

According to the Wilmington Journal's consistently breaking news coverage regarding the Sen. Boseman saga a campaign fundraiser will be held August 18th at the home of Joyce Fitzpatrick in Raleigh. Fitzpatrick is one of the south's most well respected public relations professionals. She was inducted into the UNC School of Journalism's Public Relations Hall of Fame in 2000.

She (Fitzpatrick) is recognized as a specialist in crisis and change communications. InsidePR magazine named Fitzpatrick a PR All-Star for her employee communications work at IBM Corp. in 1992. She was named a Distinguished Young Alumna at UNC in 1995, ranked among the Triangle's Most Powerful Women by Triangle Business Journal in 1996, and elected to the YWCA of Wake County's Academy of Women in 1997. UNC press release

Fitzpatrick also represented top NC Lobbyist and recently humiliated scumbag, Don Beason as he tried to wiggle out of his participation in the Jim Black cartel. Beason was the person that "loaned" Jim Black $500,000.

The 70 something year old and crotchety Beason was found guilty recently of simple assault, ending his trial on a more serious charge of assault with a firearm for brandishing a gun during a traffic confrontation July 6.

Wake County Chief District Court Judge Joyce Hamilton ruled in Beason's non-jury trial after a day of testimony. She sentenced Beason to 100 hours of community service and continued judgment for 12 months, which would allow Beason to apply to have the conviction vacated then.

Beason had been charged with assault with a firearm.

In court, Jason Batten said he and his fiancee, Chrisy Tellis, were driving to a gas station on Oberlin Road to get some headache medicine when his vehicle was in front of Beason's pickup at a stop light. He said Beason pressed down on the truck's horn for a long period of time then jumped out brandishing a weapon because he was irritated.

Beason's protege' and fellow lobbyist, Theresa Kostrzewa is the same lobbyist that Sen. Boseman bunked with while staying in Raleigh during session. Of course it was all legal because Boseman supposedly paid the lobbyist of the pork, video poker and payday lenders, $50 a night for the privilege. But what might not be legal is the level of participation TK has with this "fundraiser" because in the email sent out by the Boseman campaign the lobbyist appears to be the RSVP contact person and not the party supposedly hosting the fundraiser.


email from Boseman campaign

Now bare with me. You have one of the south's top PR people who specializes in spinning troublesome situations supposedly holding a fundraiser for a troubled senator but the contact person is a lobbyist. If the Journal's investigative reporter Cash Michaels didn't verify this 3 times I wouldn't believe it. In fact I would bet this would have been about as believable as John Edwards affair story in the National Enquirer. But it is true. So why is it important?

This announcement, and it was an announcement, was to alert the Democrats that Sen. Boseman has no intention of stepping down. The "Faux" fundraiser is just days before the cut-off to replace her on the ballot and the Boseman camp's PR team is sending a strong message that they will not go quietly. In fact they rub the lobbyist name into the face of those who dare question it so that the announcement "has legs."

Ballsy move on the senator's part. Don't know if it will win her the election but it will make those democrats putting pressure on her to resign back off.

Bikini Patrol

Last week a woman clad in a bikini top was riding shotgun in a WPD detective's city issued vehicle. Was this a vice arrest by this medlin(ing) detective or a friendly passenger?

The use of government property for personal use can be considered embezzlement. Surely the gasoline used is paid for by the city, the wear and tear paid for by the city. It is a company car and the insurance/liability issues created by using the car for personal reasons violates the law. Surely it violated the public trust and policy.

Embezzlement.

North Carolina General Statutes § 14-90. Embezzlement of property received by virtue of office or employment.
If any person exercising a public trust or holding a public office, or any guardian,administrator, executor, trustee, or any receiver, or any other fiduciary, or any officer or agent of a corporation, or any agent, consignee, clerk, bailee or servant, except persons under the age of 16 years, of any person, shall embezzle or fraudulently or knowingly and willfully misapply or convert to his own use, or shall take, make away with or secrete, with intent to embezzle or fraudulently or knowingly and willfully misapply or convert tohis own use any money, goods or other chattels, bank note, check or order for the payment of money issued by or drawn on any bank or other corporation, or any treasury warrant, treasury note, bond or obligation for the payment of money issued by the United States or by any state, or any other valuable security whatsoever belonging to any otherperson or corporation, unincorporated association or organization which shall have comeinto his possession or under his care, he shall be guilty of a felony. If the value of the property is one hundred thousand dollars ($100,000) or more, the person is guilty of a Class C felony. If the value of the property is less than one hundred thousand dollars ($100,000), the person is guilty of a Class H felony. (21 Hen. VII, c. 7; 1871-2, c. 145, s. 2; Code, s. 1014; 1889, c. 226; 1891, c. 188; 1897, c. 31; Rev., s. 3406; 1919, c. 97, s. 25; C.S., s. 4268; 1931, c. 158; 1939, c. 1; 1941, c. 31; 1967, c. 819; 1979, c. 760, s. 5; 1979,2nd Sess., c. 1316, s. 47; 1981, c. 63, s. 1; c. 179, s. 14; 1997-443, s. 19.25(d).)

NCGS § 14-91. Embezzlement of State property by public officers and employees.
If any officer, agent, or employee of the State, or other person having or holding intrust for the same any bonds issued by the State, or any security, or other property and effects of the same, shall embezzle or knowingly and willfully misapply or convert the same to his own use, or otherwise willfully or corruptly abuse such trust, such offender and all persons knowingly and willfully aiding and abetting or otherwise assisting therein shall be guilty of a felony. If the value of the property is one hundred thousand dollars($100,000) or more, a violation of this section is a Class C felony. If the value of the property is less than one hundred thousand dollars ($100,000), a violation of this section is a Class F felony. (1874-5, c. 52; Code, s. 1015; Rev., s. 3407; C.S., s. 4269; 1979, c. 716; c. 760, s. 5; 1979, 2nd Sess., c. 1316, s. 47; 1981, c. 63, s. 1; c. 179, s. 14; 1997-443,s. 19.25(e).)

NCGS § 14-92. Embezzlement of funds by public officers and trustees. If an officer, agent, or employee of an entity listed below, or a person having or holding money or property in trust for one of the listed entities, shall embezzle or otherwise willfully and corruptly use or misapply the same for any purpose other than that for which such moneys or property is held, such person shall be guilty of a felony. If the value of the money or property is one hundred thousand dollars ($100,000) or more, the person is guilty of a Class C felony. If the value of the money or property is less thanone hundred thousand dollars ($100,000), the person is guilty of a Class F felony. If any clerk of the superior court or any sheriff, treasurer, register of deeds or other public officer of any county, unit or agency of local government, or local board of education shall embezzle or wrongfully convert to his own use, or corruptly use, or shall misapply for any purpose other than that for which the same are held, or shall fail to pay over and deliver to the proper persons entitled to receive the same when lawfully required so to do, any moneys, funds, securities or other property which such officer shall have received by virtue or color of his office in trust for any person or corporation, such officer shall be guilty of a felony. If the value of the money, funds, securities, or other property is one hundred thousand dollars ($100,000) or more, the person is guilty of a Class C felony. If the value of the money, funds, securities, or other property is less than one hundred thousand dollars ($100,000), the person is guilty of a Class F felony. The provisions of this section shall apply to all persons who shall go out of office and fail or neglect to account to or deliver over to their successors in office or other persons lawfully entitled to receive the same all such moneys, funds and securities or property aforesaid. The following entities are protected by this section: a county, a city or other unit or agency of local government, a local board of education, and a penal, charitable, religious, or educational institution. (1876-7, c. 47; Code, s. 1016; 1891, c. 241; Rev., s. 3408; C.S., s.4270; 1979, c. 760, s. 5; 1979, 2nd Sess., c. 1316, s. 47; 1981, c. 63, s. 1; c. 179, s. 14; 1985, c. 509, s. 3; 1993, c. 539, s. 1177; 1994, Ex. Sess., c. 24, s. 14(c); 1997-443, s. 19.25(f).)

Who is Don Adkins?

Donald E. Adkins serves on the NHRMC Foundation Board as Treasurer. He also signed Senator Boseman's campaign finance quarterly report in July 2006. There is no documentation regarding his appointment or his resignation to the post.

I wonder how soon Mr. Adkins will be talking to the NC Board of Elections.

I also wonder if he is concerned with being charged with perjury.

On April 24, 2006 Boseman forged her campaign treasurer's signature to the same quarterly campaign finance report.



On October 14, 2006 an amended report was sent to the BOE with no signature.





What was wrong with that report that caused it to be amended 3 times?

Sen. Boseman, there will be no mercy!

The most damning evidence Senator Trainwreck is facing is her own arrogance. She will choke on her own words, she will slip and fall on the number of illegal campaign finance violations that will bury her. This forest fire that has begun will be a hell storm thanks to the fuel Mizz Boseman has poured along her trail as she pukes one lie after another in the direction of idiots that give her the benefit of the doubt. But these idiots will soon see the light as the fire becomes unbearable.

I would hope that all of you have read the Wilmington Journal's editorial and the Star News editorial.