Out on business for a week. Anon comments disabled until I return.
Also, the FED will drop rates by 25 bps on Tuesday. Which is a mistake!
Sunday, September 16, 2007
Be back
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2007
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September
(23)
- We have a winner. Net Bank FAILS, FDIC steps in.
- DMJ Custom homes raid!!
- CA Foreclosures up 300%
- Four indicted in Central Valley mortgage fraud scheme
- KGET real estate forum
- Mortgage rates go up twice today.
- To all those who claim rates will now start to go ...
- Californian reponds to criticism from us
- Be back
- On-Line Run on the Bank
- Words of the day.
- Bank Run. Could this happen in the US?
- KGET responds to media criticism
- CPA Comfort Letters
- FBI RAID!
- "I am a victim...I had no idea what Crisp & Cole o...
- State accuses Crisp & Cole of FRAUD
- California REOs up 471 percent in August
- Top realtor goes BUST!
- Osama Bin Laden worried about the housing bubble
- Almond market the next local bubble.
- Crisp property auctioned for a reasonable price
- Valley Developers(speculators) abandoning projects
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September
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39 comments:
I remember when Crisp and Cole boasted 97 listings and 30+ agents with 2 offices, planning on even a third office. I remember the best real estate show, hands down, period. I remember the Crisp and Cole Productions vans driving around town. I remember picking up my pathetic open houses signs on one of the first open houses I ever did in my career late last year, and standing in awe watching the caravan of 5 beautiful Range Rovers and a Mercedes driving out of a neighborhood, one after the other (all the Range Rovers had "Crisp" and a number for the license plates).
Last week, they had 55 listings, one office. Today, they have 47 listings, and about twelve agents, including Ty (Broker), David (Crisp), Jeriel (still in jail?) and Lindsay (she is the listing agent or co listing agent on 27 properties out of a current entire inventory of 47!).
I'm guessing the monthly Armani suit handout has stopped, as well as company trips in the corporate jet to Las Vegas with a $5K cash "spending" purse to each agent.
P.S.- The newest listing is 16 days old today, a short sale in the NW.
My, how the "mighty" are fallen...
Real Estate Market Update:
Sorry, wanted to get this info for you guys every month at the beginning.
Real Estate Statistics as of 9/17/07 (Kern County, Bakersfield Association):
# of REALTORS with active MLS memberships: 2,399
Listings (Active and Contigent only, does not include pending properties):
Residential: 5,185
Residential Income: 486
Farm & Ranch: 29
Lots and Land: 549
Commercial/Industrial: 163
Biz Opportunities: 59
Commercial Lease: 51
Jayson Costa, former Crisp and Cole Loan Officer get arrested by the Feds for Mortgage Fraud.
bakersfield realtor:
Jayson Costa, former Crisp and Cole Loan Officer get arrested by the Feds for Mortgage Fraud.
~~~
Please verify. Not on TV sites or Californian's site (yet). Have a link?
License Type:
SALESPERSON
Name:
Crisp, David Marshall
Mailing Address:
5555 CALIFORNIA AVE SUITE 301
BAKERSFIELD, CA 93309
License ID:
01306479
Expiration Date:
03/19/09
License Status:
LICENSED
Salesperson License Issued:
03/20/01 (Unofficial -- taken from secondary records)
Former Name(s):
NO FORMER NAMES
Employing Broker:
License ID: 01805808
Crisp Real Estate Inc
8200 STOCKDALE HWY STE K-4
BAKERSFIELD, CA 93311
Comment:
09/10/07 - H-2163 FR
NO OTHER PUBLIC COMMENTS
>>>> Public information request complete <<<<
~~~
Comments These comments, in most cases, describe either a pending or final action taken against a licensee pursuant to the Business & Professions Code and/or the Administrative Procedure Act. Comments of this nature are designated by numbers that begin with either an 'H', generally indicating a formal administrative action or an 'R', generally indicating a recovery claim. Additional comments may be added to describe the administrative action taken. Administrative action comments include references to:
D&R
Desist and Refrain Orders
Released
Release of action
Revoked
Revocation of license rights
Revoked
w/right restr
Revocation of license right with the right to a restricted license
Suspended Indefinitely
Suspension of license right indefinitely
Suspended
for a term
Suspension of license right from the start date through the end date
Suspended
Suspension of license right
Further information regarding an administrative action involving a licensee whose record reflects an 'H' number may be obtained through the Sacramento Office at (916) 227-0906.
Additional recovery claim information on licensees whose record contains comments with an 'R' number may be obtained through the Sacramento Recovery Fund Unit at (916) 227-0789.
Be sure to have the 'H/R' number and license identification number for faster service when making an inquiry.
Bakersfield Realtor said...
Jayson Costa, former Crisp and Cole Loan Officer get arrested by the Feds for Mortgage Fraud.
~~~
I passed your info along to someone, they said even the FBI has no idea what you're talking about.
Are you saying he was arrested, or are you asking that he should be arrested?
Jayson Peter Costa
Inmate number 9940640
L.A. County Jail
No Bail
Felony
Mtg. Fraud
look up at www.lasd.org
Arrested 09/14/07 at LAX Airport
Hey Ichabod you seem to have some inside info with FBI. Question is the head investigator as cute in person as on tv and is he single cause he sure is cute.
Could be, could be.
Every potential target in this case is surely being monitored, both physically and financially, so if this pilgrim tried to board an international flight, the ax would fall.
So with this latest arrest does that mean the axe could fall on the whole lot of evil doers. I hope so, I hope Crisp and his mentor Cole both get twenty years. Crisp will get out, but I suspect Cole may not make it, but maybe Crisp will take the easy way out.
Oh and no rate change in the morning, I suspect. Not that changing ot means a dame thing, except to a bunch of people with their head there axx.
Jayson was returning from out of the country. The Feds were waiting.
Has he posted bail yet?
Look it up on the website
www.lasd.org
inmate nimber 9940640
There is no bail.
I see.
I'd bet he had his bail hearing today, and the web site doesn't reflect the bail that was set. He may be home by now.
Or, he may have volntarily waived his hearing while cutting a deal. If he eventually walks out O.R., he's cooperating.
Anyone seen him around?
Anyone know where he was returning from, such as an offshore banking haven?
He was in Coasta Rica.
Any info that is current on the
Global Realty ala Khamphou Siripane and family???
I see. That offers no protection. If he has family there, they will be getting a knock on the door. If he has accounts there, they will be known and accessible.
scotty said...
Hey Ichabod you seem to have some inside info with FBI. Question is the head investigator as cute in person as on tv and is he single cause he sure is cute.
~~~
Dang scotty! Would you like his phone number also?
What about Newton?
Heard he was arrested.
Wire fraud.
Don't those carry like about 30 years?
Didn't he do about 220 just for C&C.
These pilgrims got 30 for what David et al have done:
[url=http://www.cnn.com/2007/US/09/18/mortgage.fraud.heroes/index.html]Here[/url]
Here:
http://www.cnn.com/2007/US/09/18/mortgage.fraud.heroes/index.html
Some guy named Juhasz also living the high life until the bubble burst and left others holding the bag. Check out the Californian at bakersfield.com.
This falls under the "No Sh*t Sherlock" category:
Mortgage fraud is not a victimless crime”, said Stephen F. Gomez, Assistant Special Agent in Charge of the FBI in Mississippi. “The fraud affects property values, causes property tax increases and makes it harder for legitimate homeowners to sell their property.”
File this one under:
"Scumbags is as Scumbags Does"
3 Indicted In California Mortgage Fraud/Identity Theft Scheme
Anthony Wayne Jones, Terri Lashan Piggee, and Lawrence Ambrose, all of whom reside in Los Angeles County, California, were indicted on charges that they conspired and agreed with one another to commit bank fraud and identity theft.
Specifically, the indictment alleges that the defendants utilized the stolen identity of another individual to apply for a $589,000 residential loan from a federally insured banking institution. The loan application package submitted to the bank contained falsified documents and forged signatures in order to procure the loan using the stolen individual’s identity. The defendants used the stolen identity not only to purchase the residence located at 10205 South First Street, Inglewood, California, but also to purchase a 2007 GMC Yukon for almost $67,000, and obtain a home equity line of credit for $200,000.
Note the gals name is "Piggee"
Ha!
Crisp better run!
Come on guys, Jayson Costa is in jail right now. What do you think they'll say to him in the questioning room?
"Cooperate with us on your bosses for a lesser sentencing."
DUH! Sell them out! He was put into a facility this morning. His visitor status is NONE. His bail is "NO." He was arrested at midnight coming into the country at LAX. Do you REALLY think it's because he missed a previous hearing? I think not. Props to bakersfield realtor who caught this. This has "Mortgage Fraud Arrest" written all over it.
We are definitely going down hill on this mountain now. And the mountain is pretty steep- it will go fast.
Hmmmm...passing bad checks in Vegas? He's lucky he didn't end up buried in the desert.
Bakersfield real estate agent arrested
Posted 9/18/07 - from kget.com
BAKERSFIELD - A one-time member of the Crisp & Cole real estate team is in a Los Angeles jail after being arrested on fraud charges.
Jayson Costa, 34, was arrested by LAPD officers on a Nevada warrant charging him with writing bad checks in Las Vegas.
Costa was a real estate agent working for Tower Lending, a now-defunct branch of the now-defunct Crisp & Cole Real Estate Company. Tower Lending closed in March, and in April the state Department of Real Estate suspended Costa's license.
In a formal accusation, the DRE said Costa illegally was originating loans at Tower Lending before he got his license. When DRE found out about it, it suspended the license he subsequently had received.
Cole admitted Costa was working on the loans, but Cole said Costa claimed to have a license. Cole said when he discovered the truth, he fired Costa.
Costa told The Bakersfield Californian he was cooperating with federal authorities who were investigating David Crisp and Carl Cole. Costa told the paper he had given investigators files on 12 transactions. But, Costa said, all the deals were legal.
On Wednesday, federal agents searched 13 Bakersfield locations connected to Crisp, Cole and their associates and relatives. Boxes of files were taken away, but no arrests were made.
Henry: Paper showed it was on top of Crisp case
http://www.bakersfield.com/
hourly_news/story/239862.html
So much for a productive day at work. Release the hounds!!!
His recipe for success?
A mix of good marketing, unending drive and a lot of risk-taking.
Some good timing and a little luck didn't hurt either.
-Californian, June 10, 2006
Henry is so off the mark here, it's pathetic. Why can't the paper just admit that they dropped the ball on this?
Absence of evidence is not evidence of absence. When agents, appraisers, and brokers refuse to speak on a certain topic, isn't that a clue? Did it occur to anyone at the Californian that their "sources" might have a vested interest in seeing only positive RE stories?!
Bottom line: through a combination of laziness, hubris, and being star-struck by the latest "mogul", the Californian failed to do its job. In the process, they helped Crisp & Cole defraud dozens of additional victims.
Disconnect alert!
Jayson passing bad checks in Vegas?
(with all that CASH to be laundered?)
(does anybody think he wasn't setting up offshore accounts in Costa Rica)
(Or maybe he just went there because it has the same last name!
LOL!
Max: Yeah, sorry Lois, usually I kind of like you but on this one you go back to day one of boot camp!
There were realtors and others in the "biz" that were looking up C&C's trannys a long time ago. They were looking at 2nd's conveniently making up the diff on a home on sale for months which couldn't sell then all of sudden sold for $200K more than asking. Stand alone 2nd just happened to match the diff and cash at close pocketed. "Buyer" never lived on day in house.
This goes back over one year that I know of where RE people were talking about this. As a matter of fact, just after your employer's big puff piece on David.
Hey, be like OJ! Claim you "set David up" with the puff piece and this so enraged brokers and other RE peeps in town they decided to drop a dime on David to DRE!
LOL!
Why is so hard to understand that
all this was cooked up by the person that was in charge of sales prodution and was the Broker of record and made a clean getaway
before the the bombs started droping.
Realestateslasher said...
Why is so hard to understand that
all this was cooked up by the person that was in charge of sales prodution and was the Broker of record and made a clean getaway
before the the bombs started droping.
~~~
Don't worry- Cole is in plenty of trouble!
Ichabod
Who was the senior realestate advisor&broker of record before David ??
Maybe Jackass Dorkamus at Magic
Ichabod
Who was the senior realestate advisor&broker of record before David ??
~~~
That's the funny thing- David doesn't have his broker's license.
Cole was the broker for Crisp & Cole. When he left, Crisp hired Jack Doremus as manager. Either he was broker or Ty Stewart. Jack left and now Ty Stewart is manager and broker.
I believe Jack was like Sale Manager for C&C for some time.
Yes, he is a broker too.
He IMO is way to smart to have been caught up in all this.
Maybe he started rolling over when the rolling got good.
Wats good for the goose is good for the sales manager
no one gets away clean
If he had been put in prison for the anal rape of the young man in North Carolina none of this would have happened. He's is a pedophile, plain and simple. He is the worst of society...one who preys on young children. Hopefully he will be put in prison...where he can get ALL the MALE attention he needs. Crisp & cole SUCK and they get what they deserve
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