Do You Guys Think This Is Loan Fraud?! Or Can I Use It? Very Grey

[quick2close1]

Verification of Assets to Close on Your Deal

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Reply to: serv-432692724@craigslist.org
Date: 2007-09-26, 9:41AM MST



If you are trying to get to the closing table for a commercial or residential real estate deal, your lender will require seasoned,
verifiable, US funds!

Call NBCS Financial Services at 972-763-2434

Our fee is 5% and we require full payment upon receipt of your application. Due to previous dishonest clients, we no longer
accept payment at closing. We are just like Amazon.com--pay us and then receive your service. No exceptions.

We welcome calls from agents and brokers of any kind, but the same rules apply. We have been placed on the HUD and still
not received our payment after the deal funded.

NBCS Financial has a simple, streamlined process and anyone in the real estate market, commercial or residential, knows that
in the current lending climate, all borrowers will need to show proof of funds.

Bottom line: It takes money to make money or close on your dream home.

NBCS Financial Services---972-763-2434

Or e-mail info@nbcsFinancialServices.com

on the northern shore was the most fertile area with the largest sugar plantations It was an area of vast economic importance

[Erik]

I'm not sure I follow how this is supposed to work.

[quick2close1]

supposedly you can use this as reserves for seasoned reserves when the bank need reserves in order to fund or qualify a loan from what I am seeing is these people will put the amount of reserves in your borrowers account and let it season for the rquired amount of time. Then pull the money out after the loan has closed for a fee of 5% and i am assuming the 5% is charged on the amount of money they front you.

[GLOAT]

Anything disclosed to the Lender and ok'd is legit. Anything provided by you to the Lender as representation/documentation of fact is considered as supporting documentation that affects an underwriting decision. Any direct involvement in deception or concealment, and/or even the "knowledge of", is considered mortgage fraud.

[privateequity]

thanks, i can use them, and we found it to be legal to our guidelines

[quick2close1]

Well let me know how that goes after the loan funds. Sounds to good to be true to me. BUt then again. People don't understand if they are confused.

[grnoldschool]

I would agree this sounds way too good to be true.