New Haven Financial review: mortgage rip-off 88

The DRE caused a surprise audit on New Haven Financial based on a complainet that one of our investors did not receive notice that a 1st deed of trust senior to a loan made by one of its investors went into default subsequent to the filing of the foreclosure on their position. The complete audit found minor infractions.

New Haven Financial, Inc. stongly disagrees with the findings of the Department of Real Estate and the ALLEGATIONS are just that. Upon the completion of the investigations the actual findings will be of record and Sir William will still be a complaintant with no name.

In this time of economic crisis and the wake of the mortgage meltodown, New Haven takes pride in meeting customer needs and acts in the best interest of the consumer and its investors. Should anyone wish to inquire please feel free to contact our corporate offices at [protected] at any time.

Wishing everyone well in this Holiday Season

Everyone @ New Haven Financial, Inc.

New Haven Financial is a well-oiled fraud machine.

Mr. Fine,

It appears you are chasing William all over the internet attempting to discredit him. Why is that? Does New Haven Financials attorneys know what your doing? Why don't you address the actual DRE accusations in full one by one on one of these blogs and elaborate in detail why it is you, representing New Haven Financial, feel the DRE's complaints are unsubstantiated? Better yet, get Mr Rabinoff online and lets here it from the horses fraudulent mouth. I find it laughable that a subordinant is commenting on his employers behalf regarding very real and serious federal crimes.

Bring it on Mr. Fine. I have nothing to loose, but much to gain blogging real and factual documents supporting OUR claim of fraud. In fact, many of my accusations are a matter of public record!

You my friend have alot to loose and nothing to gain...or have you not done your research into your loan files as I suggested?

Dear Mr. Scot R. Fine:
Didn't your mother ever tell you that people who live in $3, 450, 000 glass houses shouldn't throw stones? Perhaps better stated, people who USED TO live in such a house...
The good news is, the Los Angeles tax assessor's office is happy that you have paid up your defaulted taxes of $17, 839.31 after close of escrow when you sold your (glass) house last July 2008. That defaulted tax payment was recorded on July 31, 2008. Lord knows the city can use the money.
The bad news is that you haven't updated your address with the Dept. of Real Estate, more than 7 months late. You are a naughty boy, Mr. Fine. Please learn to play by the rules before you admonish others to do so.

FILED: October 16, 2008 DEPARTMENT OF REAL ESTATE

BEFORE THE DEPARTMENT OF REAL ESTATE

STATE OF CALIFORNIA

* * * * *

No. H-35387 LA

ACCUSATION

In the Matter of the Accusation of

NEW HAVEN FINANCIAL INC;

and, LAWRENCE S. RABINOFF,

individually and as designated

officer of New Haven Financial Inc.,

Respondents,

The Complainant, Robin Trujillo, a Deputy Real Estate Commissioner of the State of California, for cause of Accusation against NEW HAVEN FINANCIAL INC., and LAWRENCE S. RABINOFF, individually and as designated officer of New Haven Financial Inc., alleges as follows:

1.

The Complainant, Robin Trujillo, acting in her official capacity as a Deputy Real Estate Commissioner of the State of California, makes this Accusation against NEW HAVEN FINANCIAL INC. and LAWRENCE S. RABINOFF

2.

All references to the “Code” are to the California Business and Professions Code and all references to “Regulations” are to Title 10, Chapter 6, California Code of Regulations.

LICENSE HISTORY

3.

A. NEW HAVEN FIIANCIAL INC. At all times mentioned, NEW HAVEN FINANCIAL INC. (“NHF”) was licensed or had license rights issued by the Department of Real Estate (“Department”) as a real estate broker. On July 28, 1994, NHF was originally licensed as a real estate broker by LAWRENCE S. RABINOFF as the designated officer.

B. LAWRENCE S. RABINOFF. At all times mentioned, LAWRENCE S. RABINOFF (“RABINOFF”) was licensed or had license rights issued by the Department as a real estate broker. On September 16, 1989, RABINOFF was originally licensed as a real estate broker; and

C. At all times material herein, NHF was licensed by the Department as a corporate real estate broker by and through RABINOFF, as the designated officer and broker responsible, pursuant to Code Section 10159.2 of the Business and Professions Code for supervising the activities requiring a real estate license conducted on behalf NHF of by NHF's officers, agents and employees, including RABINOFF.

BROKERAGE AND LICENSED ACTIVITIES

4.

At all times mentioned, in the City of Calabasas, County of Los Angeles, NHF acted as a real estate broker and conducted licensed activities within the meaning of:

A. Code Section 10131(d). NHF operated a mortgage and loan brokerage; and

B. In addition, NHF conducted broker-controlled escrows through its escrow division under the exemption set forth in California Financial Code Section 17006(a)(4) for real estate brokers performing escrows incidental to a real estate transaction where the broker is a party and where the broker is performing acts for which a real estate license is required.

MORTGAGE LOAN AND BROKER ESCROW AUDIT

5.

On September 24, 2008, the Department completed an audit examination of the books and records of NHF pertaining to the mortgage loan and broker-escrow activities described in Paragraph 4 that require a real estate license. The audit examination covered a period of time beginning on March 1, 2005, 2006 to January 31, 2008. The audit examination revealed violations of the Code and the Regulations as set forth in the following paragraphs, and as more fully discussed in Audit Report LA 070290 and 070295 and the exhibits and work papers attached to said audit report.

TRUST ACCOUNTS

6.

At all times mentioned, in connection with the activities described in Paragraph 4, NHF accepted or received funds in trust (“trust funds”) from or on behalf of buyers, sellers, borrowers and escrow holders. Thereafter NHF made disposition of such funds. From time to time herein mentioned during the audit period, said trust funds were deposited and/or maintained by NHF in the bank accounts as follows:

“New Haven Financial Inc. Account No. [protected]” Union Bank of California P.O. Box 512380 Los Angeles, CA [protected] (escrow trust account)

“New Haven Financial Inc. Account No. [protected]” Union Bank of California P.O. Box 512380 Los Angeles, CA [protected] (loan servicing trust account)

VIOLATIONS OF THE REAL ESTATE LAW

MORTGAGE LOAND AND BROKER ESCROW AUDIT

VIOLATIONS OF THE REAL ESTATE LAW

MORTGAGE LOAND AND BROKER ESCROW AUDIT

7.

In the course of activities described in Paragraphs 4 and 6, above, and during the examination period described in Paragraph 5, Respondents NHF and RABINOFF, acted in violation of the Code and the Regulations in that they:

(a) Permitted, allowed or caused the disbursement of trust funds from the loan servicing trust account where the disbursement of funds reduced the total f aggregate funds in escrow trust account, to an amount which, on January 31, 2008, was $1, 939.65, less than the existing aggregate trust fund liability of NHF to every principal who was an owner of said funds, without first obtaining the prior written consent of the owners of said funds, as required by Code Section 10145 and Regulations 2832.1, 2950(g) and 2951.

(b) Failed to notify investors Sherman and Symonds that borrower Yniguez had defaulted on her loan, in violation of Code Section 10233(c)(1).

(c ) The bank accounts for the broker escrow and loan servicing were not in the name of the broker as trustee at a bank or other financial institution, nor designated as trust accounts, in violation of Code Section 10145 of the Code and Regulations 2832(a), 2950(d) and 2951

(d) No separate trust fund beneficiary records were maintained for the unidentified and unaccounted for trust funds in the loan servicing trust account in the amount of $2, 000, in violation of Code Section 10145 and Regulations 2831.1, 2950(d) and 2951.

(e) Charged financed points and fees in excess of $1000 or 6% of the original principal balance, exclusive of points and fees in the three (3) covered loan transactions for borrowers Yniguez, Goeckner and Ray, in violation of Financial Code Section 4979.6 of the Predatory Lending Act.

(f) Failed to provide Consumer Caution and Home Ownership Counseling Notice no later than three business days prior to signing of the loan documents in the Yniguez, Goeckner and Ray covered loan transactions, in violation of Financial Code Section 4973(k)(1) of the Predatory Lending Act.

(g)(1) Permitted and/or caused the disbursement of trust funds t credit report companies on the representation that these amounts were needed to pay for credit report fees, which payments exceeded the actual costs of these services. Respondents did not disclose to borrowers Yniguez, Rhodes, Balderas-Gallardo, Keshishi, Metcalf, Goeckner and Ray these “mark-ups” of said trust funds, did not obtain their consent to these “mark-ups”. Respondents retained the difference between the amounts paid and the actual costs of the services, in violation of Code Sections 10176(a) and 10176(g), and

(g)(2) Failed to disclose in writing to all parties including borrowers Anaya, Rhodes, Balderas-Gallardo, Keshishi, Metcalf, Arredondo, Goeckner and Cohen of HNF's financial interest and ownership of its escrow division, as required by Code Section 10176(g) and Regulation 2950(h).

(h) Failed to retain a true and correct copy of a Department of Real Estate approved Mortgage Loan Disclosure Statements signed by the broker for borrowers Yniguez, Anaya, Balderas-Gallard, Keshishi, Metcalf, Goeckner and Ray, as required by Code Section 10240 and Regulation 2840.

(i) Failed to retain a statement wherein the investors indicate whether or not the investment in the multi-investor loans that exceeded ten percent (10%) of the investors adjusted gross income or ten percent (10%) of the investors net worth, as required by each investor of whom meets one or both of the aforesaid suitability standards and qualifications, evidenced by a statement signed by the investor charged, and retained by NHF for four years, in violation of Code Sections 10238(f)(1) with respect to borrowers Yniguez, Rhodes, Balderas-Gallardo, Keshishi, Metcalf and Arredondo.

DISCIPLINARY STATUTES AND REGULATIONS

MORTGAGE LOAN AND BROKER ESCROW AUDIT

8.

The conduct of Respondents NHF and RABINOFF described in Paragraph 7, above, violated the Code and Regulations as set forth below:

PARAGRAPH PROVISION VIOLATED

7(a) Code Section 10145 and Regulations 2832.1, 2950(g) and 2951

7(b) Code Section 10233(c)(1)

7(c) Code Section 10145 and Regulations 10145 and Regulations 2832(a), 2950(d) and 2951

7(d) Code Section 10145 and Regulations 2831.1, 2950(d) and 2951

7(e) Financial Code Section 4979.6

7(f) Financial Code Section 4973(k)(1)

7(g) Code Sections 10176(a) and 10176(g) and Regulation 2950(h)

7(h) Code Section 10240 and Regulation 2840

7(i) Code Section 10238(f)(1)

The foregoing violations constitute cause for the suspension or revocation of the real estate license and license rights of NHF and RABINOFF, under the provisions of Code Sections 10176(a) for substantial misrepresentation, 10176(c) for a continued and flagrant course of misrepresentations or making of false promises through real estate agents or salespersons, 10176(g) for undisclosed compensation, 10177(d) for violations of the Real Estate Law, 10177(g) for negligence or incompetence.

MISREPRESENTATION

9.

Respondents NHF and RABINOFF intentionally engaged in the conduct above set forth in Paragraph 7. Alternatively, Respondents NHF and RABINOFF engaged in deceit by way of negligent misrepresentation, in violation of and Code Sections 10176(a) for misrepresentation, 10176(i) for fraud and dishonest dealing and/or 10177(g) for negligence or incompetence.

10.

The overall conduct of Respondents NHF and RABINOFF constitutes negligence or incompetence. This conduct and violations are cause for the suspension or revocation of the real estate license and license rights of Respondents NHF and RABINOFF pursuant to Code Section 10177(g).

11.

The overall conduct of Respondent RABINOFF constitutes a failure on his part, as officer designated by a corporate broker licensee, to exercise the reasonable supervision and control over the licensed activities of NHF as required by Code Section 10159.2, and to keep NHF in compliance with the Real Estate Law, and is cause for the suspension or revocation of the real estate license and license rights of RABINOFF pursuant to the provisions of Code Section 10177(h).

WHEREFORE, Complainant prays that a hearing be conducted on the allegations of this Accusation and that upon proof thereof, a decision be rendered imposing disciplinary action against the license and license rights of Respondents NEW HAVEN FINANCIAL INC. and LAWRENCE S. RABINOFF, under the Real Estate Law (Part 1 of Division 4 of the Business and Professions Code) and for such other and further relief as may be proper under other applicable provisions of law.

Dated this

Deputy Real Estate Commissioner

cc:

New Haven Financial Inc.

c/o Lawrence S. Rabinoff D.O.

Sacto

Audits – Darryl M. Thomas

Kimberly Wessler

Nice one!

Contact information for up-to-date information on Accusation No. H 35387 LA against New Haven Financial Inc. and Lawrence S. Rabinoff, individually and as designated officer of New Haven Financial Inc.:
Elliott Mac Lennan, State Bar No. 66674
Department of Real Estate
320 W. 4th Street, Suite 350
Los Angeles, CA [protected]
Phone: [protected] (direct)
Phone: [protected] (office)

Sherman
Symonds
Yniguez
Goeckner
Ray
Rhodes
Balderas-Gallardo
Keshishi
Metcalf
Anaya
Arredondo

Should I invest with New Haven Financial?
I have a significant amount of money to invest since my family sold a commercial property and we hadn't yet identified a 1031 exchange property. I had previously met a representative of New Haven Financial and she gave me her card. Her name is Allyson Straus, Sales Representative, New Haven Financial, Inc., Calabasas. Here is a link to it: http://www.losangelesbusinessregister.com/ID/14/showcompany.asp

I called New Haven last week and spoke with Larry Rabinoff. I told him of Allyson's referral, and he told me what types of investments his company makes. He said that Allyson has a license with him and was working to bring in business and would make sure to give her a share of a commission.
I asked my real estate agent to check them out, and found this website and some unsettling complaints. I was told that the California Department of Real Estate did not have a registration for Allyson Straus. They also told me there was a Straus listed and associated with New Haven Financial, but it is for someone named Donna Alberta Straus. Here is a link to it:
http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=00593466
This is very confusing.
My agent checked who Allyson Straus is and said she is a 45 year old living in Agoura Hills, California. Her maiden name seems to be Demarco. Also, there is no real estate license listing for Allyson Demarco with the state. My daughter did a search and found a recent picture on Facebook of a woman Allyson Demarco Straus who seems to be in her 30s or 40s posing with a man named Scot Fine who it turns out is listed as CFO with New Haven Financial. Here is a link to it:
http://www.facebook.com/people/Scot-Fine/1074372623

My daughter found that the woman listed with New Haven Financial, Donna Straus, is 70 years old and lives in Indio. Her license was issued in 1977 which would have made Allyson about 12 or 13 years old at that time.
That is why I did my checking and need to know if anybody understands this.
Thank you.
Stella C.

Don't Do It. They are fraudulent to the core.

Here is Fine's fine response, which flies in the face of the facts, all of which have now been made available to the DRE investigating attorney:

Dear Fraud Watcher,

"Scot R. Fine" has sent you a message on ComplaintsBoard.com:

Dear Coward,

Its easy to make slanderous ficticous comment narrative behind an alias front. If anyone wishes to discuss New Haven Financial, Inc. and its business practices feel free to contact us at any time @ [protected].

Sincerely,
Scot R. Fine

Wow! Mr Fine and his company has some serious explaining to do. The state's complaint looks pretty comprehensive to me. and it doesn't seem likely they would have gone to all this trouble without just cause. How did they learn about this anyway? and what about Stella's comments? I saw the business card on the link-it says Alyson/New Haven Financial, and the agency listing is for Donna, both with the same last name (I had to copy the link text and paste it into the browser bar). Is Allyson using Donna's credentials? Are they mother and daughter and did it happen with the consent of New Haven management? That doesn't sound right to me. How is that fictitious? (check your spelling here, bud)
New Haven: how about providing a plausible explanation here and now? That would include addressing every point raised by the state and by Stella? (you're gonna have to do it anyway.)

Scot R. Fine, CEO New Haven Financial, 24025 Park Sorrento, Calabasas, CA.
New residence at (removed)
Various problems: home purchased on December 12, 2007 for $1, 750, 017, but not recorded for more than a month in the next calender year, on January 17, 2008.
Another problem: just like the house in Hidden Hills (5919 Spring Valley Road, Hidden Hills, CA 91302), taxes due by Dec 10, 2008 are now delinquent, for almost $13, 000. New tax bill of almost $12, 000 is due in 2 weeks.
How is it that CA Department of Real Estate does not have a true and timely update of this salesperson’s address?
There seems to be a disturbing pattern here.
How is it that the chief executive officer of a mortgage company can’t take care of his own real estate taxes? Was his ability to pay his new loan properly validated? Have company funds been used/misused to fund this purchase? Has Larry Rabinoff properly qualified for his new home loan?

Tax status as of April 7, 2009:

Treasurer and Tax Collector
Los Angeles County
Treasurer and Tax Collector

Property Tax Payment Inquiry

Last updated Monday April 06, 2009
Assessor ID Number: [protected] Year: 08 Seq. No.: 010

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 08 SEQUENCE: 010 1

Installment 1 Installment 2
Tax Amount $2, 183.17 Tax Amount $2, 183.17
Penalty Amount $218.31 Pen/Cost Amount $0.00
Total Due $2, 401.48 Total Due $2, 183.17
Paid Amount $0.00 Paid Amount $0.00
Balance Due $2, 401.48 Balance Due $2, 183.17
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message: DELINQUENT
Assessor ID Number: [protected] Year: 08 Seq. No.: 000

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 08 SEQUENCE: 000 2

Installment 1 Installment 2
Tax Amount $8, 463.01 Tax Amount $8, 463.00
Penalty Amount $846.30 Pen/Cost Amount $0.00
Total Due $9, 309.31 Total Due $8, 463.00
Paid Amount $0.00 Paid Amount $0.00
Balance Due $9, 309.31 Balance Due $8, 463.00
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message: DELINQUENT
Assessor ID Number: [protected] Year: 07 Seq. No.: 010

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 07 SEQUENCE: 010 2

Installment 1 Installment 2
Tax Amount $983.60 Tax Amount $983.59
Penalty Amount $98.36 Pen/Cost Amount $0.00
Total Due $1, 081.96 Total Due $983.59
Paid Amount $0.00 Paid Amount $0.00
Balance Due $1, 081.96 Balance Due $983.59
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message:
Tax Status: DELINQUENT

What else do y0u know about these [censored]heads?

Tax status as of April 20, 2009 for Scot R. Fine, CEO New Haven Financial:

Treasurer and Tax Collector
Los Angeles County
Treasurer and Tax Collector

Property Tax Payment Inquiry

Last updated Monday April 20, 2009
Assessor ID Number: [protected] Year: 08 Seq. No.: 010

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 08 SEQUENCE: 010 1

Installment 1 Installment 2
Tax Amount $2, 183.17 Tax Amount $2, 183.17
Penalty Amount $218.31 Pen/Cost Amount $228.31
Total Due $2, 401.48 Total Due $2, 411.48
Paid Amount $0.00 Paid Amount $0.00
Balance Due $2, 401.48 Balance Due $2, 411.48
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message:DELINQUENT DELINQUENT DELINQUENT DELINQUENT
Assessor ID Number: [protected] Year: 08 Seq. No.: 000

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 08 SEQUENCE: 000 2

Installment 1 Installment 2
Tax Amount $8, 463.01 Tax Amount $8, 463.00
Penalty Amount $846.30 Pen/Cost Amount $856.30
Total Due $9, 309.31 Total Due $9, 319.30
Paid Amount $0.00 Paid Amount $0.00
Balance Due $9, 309.31 Balance Due $9, 319.30
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message:DELINQUENT DELINQUENT DELINQUENT DELINQUENT
Assessor ID Number: [protected] Year: 07 Seq. No.: 010

ELECTRONIC FUND TRANSFER (EFT) NUMBER
ID#: [protected] 9 YEAR: 07 SEQUENCE: 010 2

Installment 1 Installment 2
Tax Amount $983.60 Tax Amount $983.59
Penalty Amount $98.36 Pen/Cost Amount $108.35
Total Due $1, 081.96 Total Due $1, 091.94
Paid Amount $0.00 Paid Amount $0.00
Balance Due $1, 081.96 Balance Due $1, 091.94
Delinquent If Not Paid By 12/10/2008 Delinquent If Not Paid By 04/10/2009
Message:DELINQUENT DELINQUENT DELINQUENT DELINQUENT
Tax Status: DELINQUENT

What is Scot R. Fine hiding from?
5441 Calvin Avenue, Tarzana, CA 91356
FROM PUBLIC RECORDS:
Sales history (1992-present)

$1, 750, 000 on January 17, 2008
B: Nizanit Victoria Fine and Joe Zacharia
S: Wilmer Valderrama

$1, 250, 000 on April 18, 2003
B: Wilmer Valderrama
S: Catherine M Waymost (Trustee) and Revocable Waymost (Family Trust)

FROM PUBLIC RECORDS:
Fine, Nizanit V
5441 Calvin Ave
Tarzana, CA [protected]
-------------------------------------
Fine, Scot R
5441 Calvin Ave
Tarzana, CA [protected]
__________________
Zacharia, Joe
5441 Calvin Ave
Tarzana, CA [protected]

Mr. Zacharia is another hard money lender, a fast-talking salesperson with California Equity Lenders Inc, 30101 AGOURA CT #119, AGOURA HILLS, CA 91301

His address with Department of Real Estate is listed as 27659 IRON STONE DR UNIT #1, CANYON COUNTRY, CA 91351.

Also employed with California Equity Lenders is Jaclyn Sutton. Stephen Sutton: License Number [protected] is with New Haven Financial.
Connect the dots.

The "Fraud Watcher" is a real sleuth in disguise... the HE/SHE missed their calling as a FBI investigator.

You really need to get the facts straight as your credibility and furthermore this sites credibility is dependant upon it.

Dear /name removed/,
Please be upfront with who you are. You are the wife of Larry Rabinoff, the president of this unethical mortgage company. Please don't conceal your relationship.
Clearly there are many people who believe your husband's company (New Haven Financial Inc) has screwed them over royally.
How do you sleep at night?

Have you been ripped off by New Haven Financial Inc., 24025 Park Sorrento, #150, Calabasas, California 91302?
Do you have information that could help you and/or your fellow mortgage holders successfully seek redress against this corrupt mortgage lender?
Send relevant information regarding New Haven Financial to:
* * *
Info@NewHavenFinancialInvestigation.com
* * *

Man, does anyone one this site have a job... doesn't the complaint speak for itself. I live in the United States of America where people are INNOCENT until PROVEN guilty. The complaint gives me caution to invest or use New Haven Financial, but let the courts and the licensing authorities deal with the complaint. Though I do not support anyone at New Haven Financial and have to assume if their not guilty, they still should clean up their act so they do not end up with complaints, I think if you are going to make statements about someone, you should not stand behind a fictitious name. Infact, I believe one person from New Haven Financials requested you to call them. Why not call them? Seems they wish to speak with you.

As far as the real estate tax issue, there are more people in Los Angeles that owe R/E taxes than there are that do not.

Get a hold of yourself and stop wasting blog space...

John H. Dolenson

Really John...don't you think we have ALL contacted New Haven regarding their fraudulent activities? Is it so hard for you to beleive that they would post requests for us to contact them so as to appear to be concerned about our loans and save face before any potential new customers, the DRE and the courts? If you have not had any dealings with New Haven Financial and/or have not read the DRE complain in its entirety AND if you don't comprehend what it states, or better yet, spoken with any one of our attorneys, then I suggest you DON'T WASTE MY TIME posting uniformative, childish chastisms about innocense and guilt. Obviously, it is you whom should either get a job or quite possibly a life as well. Our postings on this site have brought a number of us together, which has confirmed for all of us that each case, while individual, follows a pattern of deceit, theft and fraud. So you see, your posts are destracting us from warning and alerting other fraud victims whom may not otherwise know that they are not the only one out there. Do us a favor, keep your uniformed opinions to yourself. I for one don't need any advise as to what is just, honorable, fraudulent, decietful, nor whom is innocent or guilty.

Hey, btw I heard New Haven is looking for a new broker to fill a vacant position, hurry and apply, they cant conduct business while a brokers license is suspended...OR CAN THEY? Best of luck.

By the way John, I for one have no problem posting my name.

Cheri Harris

Cherri,

I would be more than happy to address your concerns openly on this blog. Please detail your issues with our firm and I will address all of yout issues here in an open forum. Are you related to a James Harris from Hesperia?

Sincerely,
Scot R. Fine
[protected]

LOL, now you know exactly whom I am related to, Scott. Please don't play coy with me. You do yourself nor New Haven any justice posting as if you have no idea what we are all so upset about.

I'm going to assume you were either one of or the one whom sent two men to my home to stand out side of my gate and intimdate me. Quite pathetic actually, two grown men standing outside of a gated home in which only a woman and two children reside, arms crossed leaning against their car, informing me that my house was no longer mine, but theirs. I have to thank you, however. That day and your leg breaking tactics are what prompted me to look in to my husbands business dealings with New Haven. That alone should be enough to make you stammer at explaining New Havens approach to its business practices. While I haven't discussed the legalities of that day with my attorney, I do beleive that it alone would bring a judge and or jury to question New Haven Financial.

Lets start with the most obvious and apparent concern. How does one go about transfering title to a property which he/she does not have full possession of?

Cheri Harris

Well lets start at the begining... We amde a loan to your husband James Harris who was on title to the property @ 14472 Yucca Street. The loan was for $90, 000.00 with monthly a payment obligation of $888.75. the 1st payment came due on 5/1/2006 and it was not tnedered. The next payment came due on 6/1/2006 and it was not tendered. This caused our firm on behalf of the lender to initiate a default process or forclosure on the property to collect the debt. Our policy on a 1st payment default at that time was to initiate a foreclosure after 21 days, in this case we waited 37 days and filed on 6/7/06.

On 10/6/06 the loan was brought current and we cancelled the foreclosure.

No payment was received for the 11/1/06 or 12/1/06 and we were served by certified mail a copy of a default or foreclosure notice on behalf of the 1st mortgage holder, HSBC, confirming that you were delingquent and in foreclosure on the 1st T.D. That was filed as public record on 12/7/09. This action by them would potentially wipe out our investors position on the property if the foreclosure was

Our loan was a 2nd mortagage and part of the responsibility of maintaining a current status on any mortgage lona is that 1) senior liens are to be paid current, 2) property Taxes are to be paid timely & 3) adequate insurance is maintained.

This was not the case and again payments on our loan were in arrears also so we refiled another foreclosure action to protect our investors position and collect the debt on 12/18/06.

The loans were not cured and on 4/9/07 a Bankruptcy was filed by Harris to stay the proceedings.

The debtor, Harris, failed to maintain a plan under the jurisdiction of the court to repay the creditors, one being our investor, and we were granted relief from the bankruptcy and it went to sale on 8/30/07 under the powers granted to the investor(s) under the deed of trust.

This was all done through a legitimate foreclosure action that was insured by a title insurer.

After the foreclosure was completed our agent went to the property and was confronted by James and told to get the *%#@ of my property or i am going to kill you after he brushed you aside and told you to get back in the house.

Subsequent to that the investor, then the owner, filed an unlawful detainer action to gain possesion of the property to recover the debt.
The possesion was granted again by the courts and the gentlemen you are speaking about were sent there by the investors/owner, a local real estate agent, to meet the Sheriff to complete the lockout which was served by them in the first place.

How this is illegal, fraudulent, or pathertic on our part is not apparent from the set of events that I have just described. Further, the timeline in which this unfolded was the begining of the real estate crash and the only benefactor in the big picture was you and your husband. Our investors have no equity in the property and most likely lost their entire investment with you and your home.

The property appraised for $345k when we did the loan in 4/06 at the height of the market There was a 1st of $129K and our loan of $90K for a total of $219K. The 1st was behind, the 2nd was behind, the property taxes were delinquent, foreclosure fees, attorney fees for the BK and the unlwaful detainer action... The market dropped 50% or more especially in Hesperia.

This is unfortunate for all involved.

Correction: Regarding Harris. The 1st mortgage with HSBC filed their default on 12/7/06. Not 2009.

Additionally, I left out "This action by them would potentially wipe out our investors position on the property if the foreclosure was COMPLETED. (paragraph 3)

You didn't answer my question Scott, you really are not as smart as you think and thank you very much for your half truths about your loan to my husband. Do you STILL NOT GET IT? Or are you still playing a game. First of all, I have documentation that my loan with my first mortgage was current as of 12/06, so there is your first lie, shall I scan and post? In addition I also have documentation from them stating that "I GAVE AUTHORIZATION TO NEW HAVEN FINANCIAL" with regards to my pay off. I surely signed no such form, which they faxed to me btw, I wonder who in your office had the balls to do that? I repeatedly called your office to request the amount of the monthly payments, were to send them and what the due dates were. I was told that I was not on the loan and payments would not be accepted from ME. They suggested after I conferred with their legal department that I contact an attorney...now what does that say about your employer? After receiving a copy of your loan docs they suggested I had a legal claim. In regards to the bankruptcy, your office conveniently claimed to have not received our payments from our attorney, yes, our attorney mailed them not us, every month. After having to drive an hour each way every month, pregnant, to court only to have the trustee tell us your had misplaced our payments...we gave up. Knowing that at that time we didn't have the finances and I couldn't risk my or my babys health to fight you, I chose to wait and play on my battlefield...which was the best advise I've ever received from an attorney. When in position for a slam dunk, take your time and make it count. I'm not going to give you any more free sneak peaks into what YOU did wrong. By the way, possession was granted with the judge telling me to seek legal council...how you figure what your company did was legal is beyond me, especially due to the fact he told me in court that I made an error in paper work, which legal council could have stopped your eviction, not to mention he waived your idiot attorneys $54, o00.o0 in fees, all past rent and gave us over a month to move. One more little thing I would like to comment on, your apraisal is something I wouldn't brag about...I had an apraisal done with in weeks of yours and boy oh boy, you wouldn't beleive how off your guy was. Well, then again, that might explain his asking me how much I THOUGHT it was worth and WHAT I NEEDED it to come in as...oh and then the STAGED PICTURES LOL

Again, apparently you can not or will not answer my question. Thus presenting for all to read, New Haven Financial will not answer anything regarding their practices...because they cannot, without implying their guilt.

HSBC default? that would be you then pal. Funny how my husbands address is that of New Haven on his credit report now. Hope your keeping our payments up with that rent your receiving. Also, don't secured property taxes have to be paid at close of escrow?

Maybe I should ask it again in more simple terms.

How does one get a loan on a property as the sole owner when she/he is not?

I'm pretty sure I know the answer, but I'll wait for your response.

"They suggested after I conferred with their legal department that I contact an attorney...now what does that say about your employer? After receiving a copy of your loan docs they suggested I had a legal claim."

They being HSBC loan specialists.

Time for a recap, with apologies in advance to the innocent:

1-Mike Christl, former VP with New Haven Financial, now with California Equity Lenders, Agoura Hills.

2-Kevin Velligan, former VP with New Haven Financial, now with California Equity Lenders, Agoura Hills.

3-Gillee Sherman, former salesman with New Haven Financial, now with California Equity Lenders, Agoura Hills.

4-Joe Zacharia, former salesman with New Haven Financial, now with California Equity Lenders, Agoura Hills.

5-Jaclyn Sutton, related to Steve Sutton (currently VP of New Haven Financial), now with California Equity Lenders, Agoura Hills.

6-Steve Sutton, currently VP of New Haven Financial, and being the only other broker around, the heir-apparent to Larry's position.

7-Allyson Straus, unlicensed Sales Representative for New Haven Financial, illegally utilizing the license of another current New Haven Financial salesperson named Donna Alberta Straus.

8-Todd Fine, former salesman with New Haven Financial and related to Scot Fine (who is current CEO of New Haven Financial), has an expired DRE license. He no longer lists New Haven Financial as employing broker. Smart move.

9-Scot Fine, former CFO of New Haven Financial, now current CEO of New Haven Financial and also serving in the capacity of A.S. (acting simpleton) for this sterling organization. Salesman, not broker.

10-Larry Rabinoff, current President of New Haven Financial, soon to have an all-expense-paid stay at a place called Folsom. License expiration date of September 15, 2009 if not sooner. Don't drop the soap, Larry.

11-California Department of Real Estate Hearing scheduled to review the following issues: numerous major code violations including violation of real estate laws and regulations, negligence or incompetence for performing licensed acts, secret profit or undisclosed compensation, making substantial misrepresentations, continued and flagrant misrepresentations through salespersons, and more, including running an in-house escrow company without notification to clients/customers, and running that account in the red.

Remember: these issues were raised in matters concerning New Haven Financial mortgages held by at least the following people: Sherman, Symonds, Yniguez, Goeckner, Ray, Rhodes, Balderas-Gallardo, Keshishi, Metcalf, Anaya, and Arredondo.

According to the A.S. (Acting Simpleton Scot Fine), they all did something wrong.

Updates to follow.

"Subsequent to that the investor, then the owner, filed an unlawful detainer action to gain possesion of the property to recover the debt.
The possesion was granted again by the courts and the gentlemen you are speaking about were sent there by the investors/owner, a local real estate agent, to meet the Sheriff to complete the lockout which was served by them in the first place."

Foremost, as I stated before, you are refering to a visit by your staff other than what I was refering to. Also, the visit you mention is NOT the one in which you attempt to admonish my husbands behavior. While my husband can at times be a bit brash, his behavior that particular day was in defense of his wife whom had given birth just a few weeks prior. However, you have now verified a third visit which as with the other two, was done unannouced.

The above mentioned by you brings up an interesting twist I had not thought of before, Scott. Quite amusing really, small beans, but something that might be worth my time informing the housing authority about.

Have you heard of the following California Civil Codes:

§1954. Entry by Landlord

Code of Civil Procedure Sections 715.030, 1174(h); Civil Code Sections 1965, 1988

I do need to make one thing clear for you Scott. The date and events you are refering to with regards to the sherriff. Neither myself nor my husband ever saw any of the people with whom you refer. We were not locked out. Either you have been gravely misinformed or are flat out lying for the public. Not a difficult thing to research really, I presume it wouldn't be difficult at all to get records from the Sherriffs department.

Oh wait a minute LOL, I was just reading through your dialog and it became apperent that that is not your usual manner of "speaking". I then retreived my "eviction" court documents to verify the dates you mention, which sounded wrong to me. NOW I KNOW, you don't really have a clue. You are a puppet reading from a the case documents filed by your attorney! HAHAHAHA...be very careful
Scott, your attorney got a smack on the wrist from the judge in open court for his obvious and flagrant errors in his documents, which I was able to prove to the court simply with accurate, true and verifiable documentation of my own.

So come on Scott, are you going to run and hide with out answering my question?

Cheri Harris

Dear Cheri Harris:
Regarding the goon squad ("gentlemen" as you so aptly put it) that visited your home without legal notice, did they include Dan Lambert, Dave Levy, James Powell, Todd Kaplan, or Ken Garner? These "gentlemen" are past and present employees of New Haven Financial.
Also, what is the name of New Haven Financial's ace lawyer?

Scot Fine/New Haven Financial:
Your company made a business decision to lend to the Harris family. Part of that decision necessarily included a risk component that you decided you could accept. It is clear that you charged market (or higher) rates and fees to balance that risk. How can you now whine about your losses? Or, as Ms. Harris suspects, did you lend in good times with an eye toward (hopeful) default followed by a lucrative equity skimming payday?

Ambulance Chaser,

I prefer to discuss the names in private and as far as the attorney goes, he was a "rent-a-torney" Apparently it wasn't worth the time to send one of New Havens corporate attorneys to our far end of San Bernardino County. However, if you still would like the attorneys name, email me and we can discuss things further in private. Actually, you can give me a call LOL.

Talk to you soon,

Cheri

Here’s some of the real truth behind the horrific business tactics used by New Haven Financial, for which they are now being investigated by the California Department of Real Estate (DRE). A hearing on a major complaint is scheduled later this month.

First, the reason behind the creation of California Equity Lenders (Agoura Hills, California) at the end of 2007 is that most of the sales staff had invested, together with a great number of friends and family members, in New Haven Financial’s loans. Big problem: the very bad lending practices practiced by New Haven Financial (at Larry Rabinoff’s direction) were now biting them, their friends and their relatives in the derriere. So much so that the loss by default of properties with New Haven Financial loans went from a trickle to a torrent. New Haven Financial’s income is derived from a combination of points paid at the onset of the loan, exorbitant marked-up processing fees, and a percentage of incoming loan payments on an ongoing basis. All of their trust deeds are recorded ONLY in the investors’ names, NEVER in New Haven Financial’s name, so New Haven is never on the hook for a defaulted and foreclosed property in which their investors’ funds were invested (typically as a 2nd mortgage although more junior positions are sometimes funded). Investors are still held responsible for keeping senior loans current to safeguard New Haven’s junior positions. New Haven continues to accrue fees and costs even on non-performing loans, and have to suck up auction and resale costs and expenses.

Score in most cases: New Haven $$$, Investor 0.

Many investors either do not anticipate or are not prepared to continue making capital infusions to keep the senior loans current when payment has ceased on New Haven Financial loans. These are very bad loans, and the defecting group of employees (another writer has provided a partial listing of those people) together with their friends, relatives, and investors have filed dozens of complaints with the DRE for these reasons. Civil law suits are also following. One witness has stated that in excess of 50 complaints have been filed with the DRE and Department of Corporations regarding illegal and unethical lending, collection, and foreclosure actions. In addition to California law, New Haven Financial is known to flagrantly violate RESPA requirements, which is the federal law regarding real estate matters.

Numerous abuses have been noted by New Haven Financial borrowers, including points and interest exceeding legal limits, imposition of undisclosed fees, illegally charging and retaining premiums on third party, and unconscionable clerical and administrative fees. Worse, witnesses have corroborated falsification and manipulation of mortgage application information, including falsification of income, income source, liabilities, and employment. Related to this, and as noted by one writer on these blogs, is identity theft, in which a spouse would (unknowingly to him/her) be added to a mortgage application to pump up income and credit worthiness of the original applicant, to make the new-and-improved application more attractive to potential investors, especially on marginal applications and properties. Remember, New Haven only gets paid for funded applications.

These misrepresentations further extend to bad, inflated appraisals, using appraisers either beholden to New Haven’s owner, or appraisers who simply request a magic number to achieve the desired loan amount. So what if the nearest “comparable” property is four miles away? The investors don’t know any better, and they are foolishly relying on New Haven to safeguard their investments despite these pie-in-the-sky figures, which are based on grossly inflated appraisals, complicit appraisers, and misuse of prior sales which are either stale, simply not comparable, or outside of a reasonable geographical area. Commonly, appraiser’s fees are marked up illegally.

Let us review the escrow company favored by New Haven Financial. Reliable Trust Deed of Tarzana, California has been known to accept illegal deviations in title, including out-of-position stake holders, and to knowingly record these deviations at the direction of New Haven Financial’s management, including Larry Rabinoff and Scot Fine. Delays in recording, postponed and missed recordings and the like have been documented, always to New Haven’s benefit. Investors and borrowers alike have been defrauded as a result. Those people include the principles of Reliable Trust Deed, including Lynn Wolcott. That’s an interesting paper trail.

Speaking of “trust”, New Haven Financial has been documented to violate laws regarding the use and nonuse of trust accounts. These violations include misuse of funds contained in the accounts, nonuse where law requires funds to be placed in trust, failure to inform clients of an in-house “captive” escrow account, and overdrawing the account which means that funds were withdrawn illegally.
Now, consider the following: at least two of the remaining executives of New Haven Financial have sold or transferred title to their properties, within a time frame defined by laws regarding “fraudulent transfers”. The writer who has been tracking Larry Rabinoff (Westlake Village) and Scot Fine (Hidden Hills sale, transfer of assets to wife on Tarzana property) is on to something, which should be carefully noted.

Thank you for your very informative information. When your in the position of the borrower, or rather the unsuspectinbg spouse of a borrower whom had no legal position to borrow until he/she sought the assistance of a broker knowledgable in fraud, it is difficult to see beyond your scope of loss and acknowledge the loss of the investors. Your post has opened up the entire picture for me and it is unfathomable the depths Rabinoff and Fine were/are willing to go to gain financially.

I am curious about prior lending agancies Rabinoff was either the CEO of or doing business under? Such as Mercury? You seem to be either a prior sales associate or investor and you may have the answers. Does the DRE complaint and investigation involve any of the prior businesses and his practices while associated with them? I find it curious to say the least that Mr. Rabinoff seems to jump around every few years. I have found no evidence of complaints or DRE action for his prior associations, however, it is extremely difficult to beleive that Mr. Rabinoff suddenly lost his professional integrity and chose to begin his life as a criminal.

Again thank you for your insightful information. I would very much like to discuss this information with you further in private. If you are interested, please email me.

Cheri Harris

Rabinoff BK'ed his previous company. He also blew all the money he inherited from his father. Actually he snorted rather than blowing it. Rabinoff is trash. Always has been, always will be. Multiple marriages, estrangments from his chidren, and on and on. You don't get much worse than Rabinoff.

Appears to be written by disgruntled ex-employees, the company's competition, and a unhappy customer married (or divorced) from a possibly fraudulent borrower.

Contains libelous material and should be deleted.

Please explain to me how a liable suit could be pursued and won if the statements against New Haven are fact? Lets just assume for arguements sake (you have no other basis to go on than my written word) that every comment I have made is factual, truthful and either can be proved in written document form or eye witness statements.

Are you insinuating that my statements on this forum could be used in court by the defendants (New Haven) as slanderous and possibly nagate or create an avenue for them to not be held accountable for defrauding me? I'm pretty confident that my attorney, who is aware of my posts here, would tell me to "shut up" if in fact there was any recourse for New Haven. Still, please elaborate for me, as maybe my attorney needs a refresher course.

Good Lord, I know our justice system at times appears to run a muck, but can it be really that bad? I have more faith in truth and people as a whole. I ceriously doubt with the recent movement of "outing" bad lenders that any court would have any leniency for New Haven.

I think if you read the entire dialog and the dialog contained in another complaint against New Haven, you will see that Mr. Fine, while most likely unknowingly, confirmed in written public form that I do have a case.

Have a great weekend Scott, Rabinoff or who ever you are affiliated with the CORRUPT NEW HAVEN FINANCIAL. I'm looking forward to moving back home.

Cheri Harris

The complaints here are probably from ex-employees, company competition, or ones who hope to get paid or benefit somehow. The posting of personal information of innocent people having no connection to the complaint is a sickening shame. The trustworthiness of this entire website is ruined.