Wow, talk about rotten "luck". A Phoenix area couple has had 23 homes foreclosed on, and the lender for 11 of them is under investigation: [Thanks L!]
Clint Rogers, head of Mesa-based Clint Rogers Ministries, and Angela Faith Rogers are not accused of any wrongdoing in the complaint filed by the Arizona Department of Financial Institutions, which seeks to shut down Scottsdale-based Global Mortgage. The mortgage company handled many of the couple’s purchases and is accused by the state of using illegal and improper procedures.
But the couple’s purchases of more than two dozen homes in Arizona over two years are documented in records turned over by the state to federal investigators charged with looking at mortgage improprieties.
More than half of the state’s case to revoke Global Mortgage’s license involves 11 home purchases made by Clint and Angela Rogers.
Property records show that they bought homes that the sellers had purchased hours, days or weeks earlier for thousands of dollars less than what Clint and Angela Rogers had paid for them.
That generated hundreds of thousands of dollars in profits for the sellers.
Of 26 homes bought by the minister and his wife, at least 23 went into foreclosure. All were sold for less than what banks lent to the couple, mostly through trustee sales.
You have to wonder who was the lender for the other 12, and why this couple has not been charged.
Anything else that you’re wondering about, or figure deserves attention today? This is an open thread, so let us know what’s on your mind.
I read this one on actual ink and paper (decided to subscribe to Sunday only newspaper delivery while the medium still exists). In addition to the possibly fraudulent transactions involving many properties like these folks, I am reminded of stories like the Romanian/Arizona crew once chronicled at the (now inactive) Bubble Markets Inventory Tracker.
I have tracked one failed Arizona flipper who bought aggressively in 2006 (since peak prices were down a tiny bit then, I guess). She is a realtor who bought several houses in a relative’s subdivision. Some of the REOs from her multiple foreclosures were on the market at the same time (a short walk apart), which was kind of surreal.
I see no point in posting this flipper’s name, but the Trustee’s Deed list tells the tale:
04/04/2008 TRST DEED
09/25/2008 TRST DEED
12/12/2008 TRST DEED
12/12/2008 TRST DEED
12/19/2008 TRST DEED
02/05/2009 TRST DEED
03/04/2009 TRST DEED
06/01/2009 TRST DEED
All owner occupied of course? Other REO owned NOT listed on application? Massive Fraud by many here. Impossible now one knew as Global insists. They had the application for the others!!! Had they been listed as investment properties the Rogers would have skin in the game.
All the parties involved need Jail time and forfeiture of assets. All the sales tracked back to the same Tempe seller.
Low hanging fruit.
Wow same Tempe seller. The Like’s own more than just Global Mortgage, they also own a realty company called Like’s Luxury Homes. Suzanne & Lawrence Like are co-owners,co-mgrs of several companies. Loan officers do not have to be licensed in Az, but this same loan officer was employed with them when they were doing unlicensed activity in Nevada, pending a $250K fine. Like’s also own their own Builder, gen contract license, a electrical, framing business. Why is it only Suzanne Kensington Like is stated as owner, went both husband and wife are co managers of these businesses. Wonder where this loan officer is still doing loans? And for Like to say “she didn’t know”.
Another Az realtor/investor (flipper but never flipped) got his whole family involved in real estate scam. Ck out Az Board of Realtors website Case # 08F-DI_Quitugua_CO_11.17.08
John-
So Keith is walking off into the sunset? I wonder how long he will last without climbing back on the soapbox?
Other blogs are stating all properties were by one seller, one family buyer, one loan officer, one mortgage broker, one escrow officer, one title company all properties owned by the Rogers. $22M in deeds. This is bizarre. That’s only 6 people/companies doing 26 properties in days, hours, weeks & months of all closings. There are more, how about investors, appraisers, finder fee persons.
twist (#5) -
You might mention to him that Igor is running a 12-step program. Meetings are 7PM sharp, 2nd Tuesday each month, room 005, just off the dungeon.
21+ properties-looks like ONE seller, ONE loan officer, ONE mortgage/broker, ONE escrow agent, ONE title company, perhaps ONE or TWO appraisers, all ONE big happy family… until now.
God sometimes works in strange ways. I’m sure they thought they were doing it for Him. hmmmm
Got these off another blog, someone said the seller sold 14 of these properties but most/all from Capital Title with Escrow Agent asMs. Drew Hull. Some properties owned by RDI LLC, Shannon Kato,
There has to be some punishment by AZ but criminally it follows into the law enforcement agencies, let’s see what they will do with it now that the public is aware of this cullison.
There has to be more to this, one loan officer, one mortgage company, one escrow agent, one title company and the Like’s also owned a realty company with broker & agents.
House addresses:
6820 E Cherry Lynn
7848 E Copper Canyon
8301 N Merion, Scottsdale
8624 E San Bruno, Scottsdale
8642 E San Bruno
8501 E Quarterhorse
8338 E Quarterhorse
8337 E Quarterhorse
1426 W Laurel
9214 E Via de Vaquaro Dr
8621 E San Ardo
3404 N Ravine, Mesa
10410 N 77th St
620 E Linda
8411 N 86th Way
7848 E Copper Canyon
6820 E Cherry Lynn
8301 N Merion, Scottsdale
9077 N 82nd St
11014 N Miller
26247 N Paso Trail
8626 E San Alfredo Dr
7548 E Snowdon St
351 Palisades Dr, Sedona
642 S 8th Cottonwood, Az
8411 N 86th St
7914 E Hermosa Dr
Jake-
Mr. Twist and I were laughing at the irony here. We liked the property at 620 Linda- it belonged to Shannon Kato and talked to him about buying it. He had bought it as a fixer-upper in the summer of 2005. He remodeled it and made it pretty, but you could tell it needed major repairs.
He wanted too much money and he didn’t seem like the kind of person we wanted to do business with. He did me a favor. If he had sold it to me at the price I wanted at the time, I’d be seriously underwater now!
All of these people pulled this off and you wonder where the Managers of these companies were doing? Greed…greed…greed and to heck with public trust in these companies. And there is another area that hasn’t even been touched. Who were the appraiser(s). As you can see some are next door or in the neighborhood, I bet that appraiser over valued one property and added that as a comp to the next appraisal. That STATE agency should be investigating who did these appraisals but I doubt it will happen. Heard the agency is poorly managed.
AZDFI REVOKED Global Mortgage mortgage brokers license on July 13, 09. Suzanne Kensington-Like, owner. Consent Agreement is on the AZDFI website. Ms Like is still in the real estate business as a loan officer because the State of Az does not license these people until at least July, 2010. You may find her listed as Suzanne Like, Suzanne Kensington-Like or Suzanne Kensington. There is also a $250,000.00 fine with the State of Nevada for unlicensed activity.
Looks like Global Mortgage & loan Officer Ernie C Babbini both received judgments from a civil lawsuit in the last few days. Besides the State agency revoking license someone went after them as well. Good for them. Hope they get something from it. Suzanne Kensington-Like on the Linkedin.com website shows she is now Kensington Financial, Phoenix, with her as owner and several loan officers listed. She is also registered with Emery Financial, an affiliate of Emery Federal Credit Union. Amazing how these people can still conduct business in real estate.
Currently on Linkedin.com under Suzanne Kensington.
Kensington Financial Services, Phoenix,
Current Employees (11 total)
Lester Benowitz, Loan Officer
Susan Augienello, VP Operations
John Mastro, Loan Officer
Mike Tatro, Certified Lending Specialist
Suzanne Kensington, Owner
This woman is totally losing it. Thomas J. Hessman, Full Financial Services, opened 8/2009 and Ms. Kensington is working with this company doing small business loans, equipment lease, & church financing. Has Mr. Hessman registered this company and acquired the State and Town required licenses. Of course, another PO Box # on webpage. This person should not be in any type of loan business.