Question about company offering to lower loan amount (escrow, lending, reduce)

[emilynel]

Zelva, that was my understanding as well. The investors already agreed to front the money. The negotiations are still under way, which can be lengthy.

[7bs]

Check the DRE Website now...There's a Desist & Refrain against JW Financial Solutions / Jesse Wheeler

Here's the Info copied & pasted from dre.ca.gov:

The following persons or entities have been issued a Desist and Refrain Order for conducting real estate activity without being properly licensed.

If a consumer is uncertain about whether a person is licensed check our on-line licensee database</B> HERE.


File Number:H-5169 SAC

Date Filed:2/27/2009

Name(s):JW Financial Solutions

Wheeler, Jesse

Carter, Blake

Norton, David

AKA(s):None

DBA(s):None

Address(es):1624 Santa Clara Drive, Suite 140
Roseville, CA 95661

4010 Foothills boulevard, Suite 103
Roseville, CA 95747

>>>> Public information request complete <<<<

[Zelva]

Hum -- Thanks for this heads-up!!
Below is the RE Lic No on the JWFS' website, and it matches JWFS dba filing as well.
Says "no disciplinary action" -- but I'm going to check further just the same.
---------------------
License information taken from records of the Department of Real Estate on 5/3/2009 12:52:01 PM
License Type: CORPORATION
Name: New Century Realty & Investment Inc
Mailing Address: 211 N STATE ST STE 206 HEMET, CA 92543
License ID: 01522712
Expiration Date: 03/28/10
License Status: LICENSED
Corporation License Issued: 03/29/06 (Unofficial -- taken from secondary records)
Former Name(s): NO FORMER NAMES
Main Office: 211 N STATE ST STE 206, ROSEVILLE, CA 95661
Licensed Officer(s): DESIGNATED OFFICER
01380017 - Expiration Date: 03/28/10
Etta, Samuel Eneke
DBA JW Financial Solutions
ACTIVE AS OF 03/04/2009
One Stop Financial
ACTIVE AS OF 03/30/2007
Branches:
1624 SANTA CLARA DR # 140 ROSEVILLE, CA 95661
Salespersons:
01121313 - Andrews, Joseph Winfield
01465035 - Gurrola, Francisco Javier
01407862 - Isa, Bill I
01399603 - Magalogo, Lina

Comment: NO DISCIPLINARY ACTION -- NO OTHER PUBLIC COMMENTS

[dimplesinsac]

Originally Posted by 7bs

Check the DRE Website now...There's a Desist & Refrain against JW Financial Solutions / Jesse Wheeler

Here's the Info copied & pasted from dre.ca.gov:

The following persons or entities have been issued a Desist and Refrain Order for conducting real estate activity without being properly licensed.

If a consumer is uncertain about whether a person is licensed check our on-line licensee database</B> HERE.


File Number:H-5169 SAC

Date Filed:2/27/2009

Name(s):JW Financial Solutions

Wheeler, Jesse

Carter, Blake

Norton, David

AKA(s):None

DBA(s):None

Address(es):1624 Santa Clara Drive, Suite 140
Roseville, CA 95661

4010 Foothills boulevard, Suite 103
Roseville, CA 95747

>>>> Public information request complete <<<<

I just tried going to this stated web address and can not find this information. As a matter of fact, I found that JW Financial has had not disciplinary action what so ever. I do not believe Jesse is a realtor (at least I was never given that impression).

[Zelva]

Dimplesinsac - I did check the link shown by 7bs above and I was able to find it; however it appears to be (or all I can find is the statement) "Desist and Refrain Order for conducting real estate activity -without- being properly licensed" and this is "filed 2/27/09". And then, the DRE license info is active as of 3/4/09 (my post above).

I think what -may- have happened is that JWFS did not used to show a RE license on their website, and now they do; however it is not a RE license in the name of Jesse Wheeler specifically, but a DBA association. I did find this same DBA association when I researched JWFS (before I signed up) and it is in their DBA for Placer County (if I recall correctly). So, I -think- it is just something that was unclear, not posted on the website, etc, and someone called them on it, and they cleared it up. My best guess anyway.....

[dimplesinsac]

I just received an e-mail from my rep at JW Financial. Jesse is coming back from L.A. on Sunday with docs to show what loans have been been purchased. He told me they will have them all filed and categorized by Tuesday afternoon and to check in at that time. I say we ALL check in with our reps on Tuesday afternoon to bug them and push them along. . . hopefully after that, someone will have documentation to share!

[Zelva]

Dimplesinsac -- THANKS for this update!! Sooooooounds positive!! Do you mean -this- Tuesday (5/12) or -next- Tuesday (5/19)? And, what do you mean by "what loans have been purchased"? My rep said the pile (pool) is all or nothing -- what was your understanding?
Crossing all fingers!! (getting arthritis.....)
Thanks again!!

[dimplesinsac]

Tuesday, May 19th. I was never told a pool is all or nothing. I was told the banks can accept the lumps sum for a pool but then each individual loan has to be approved to be funded. I really am hoping it is good news next week, as I know there are MANY people waiting for answers!!!!

[AnotherSacLocal]

I just wanted to finally join/chime in. I'm also in the Countrywide pool....and I am SO excited to hear about the new potential.

Dimpleinsac - Who is your rep? Mine is Erec and I haven't received any email like that (not fair!).

But we joined the program back in late summer of LAST YEAR, so we've been waiting forever it seems.

I was never told it was all or nothing either, it's more of portions of the pool. I'm sure some existing loans are more toxic than others. Of course they want it to be all the loans at once, but I think they are willing to do chunks of the pools at a time.

Please keep respoding/posting! I'm SO excited now! (*happy dance*)

[AnotherSacLocal]

Boo, I just read that your are in the Wells Fargo pool Dimple. Great news for you....but Countrywide/Bank of America and the investors need to get with it!