Archive for the ‘CM Mortgage (fka Commercial Mortgage’ Category

CM the successor to commercial mortgage lost their mortgage license, were fined $ 250,000 and the lawsuit are pouring in against Desert Reit and related entities.  GW gave the FBI substantial files on this operation after a Maryland man lost $ 4 million by investing through Parriott and his associates.  The hustlers demanded he invest or they would sue him, while his cancer striken wife was in the hopital. — Under enormous stress he made the investment with the money never to be see again.  We understand the caseis under investigation by the FBI but as we all know, it takes time.  A recent suit of $ 25 million was file

See: http://www.lvrj.com/business/settlement-expected-by-henderson-based-lender-98999669.html

Mortgage division slaps CM on wrist.  Major problems are brewing beyond this simple $ 200,000 fine.