Legal Question in Real Estate Law in California
A licensed real estate agent from California contacted a real estate agency, a mortgage company, and Title Company in Maui, Hawaii and convinced them to process a fraudulant loan in the name of my 85 year old father by simply telling the Hawaii real estate agent, loan originator, and escrow officer that she was a licensed real estate agent in California and the "significant other" of my father (not true), and that my father couldn't hear over the telephone due to a hearing disability so they should run the entire transaction and all communicatins through her, which they did. The companies then assisted the female real estate agent perpetrator to get her name on Title to the property as a joint tenant. Yes, it was a sweetheart, real estate/elder financial abuse scam.
The mortgage company used the perpetrator's daughter, who was living in Maui and was an accomplice to her mother, as the attorney-in-fact to sign the final closing loan documents. It was a Fannie Mae funded loan and Fannie Mae has a policy in their Selling Guide as of October 22, 2013) stating that, "No mortgage company may use an attorney-in-fact to sign closing documents if the attorney-in-fact is related to one of the real estate agents who has a financial interest in the property." The California reals estate agent received 20% of the the Hawaii real estate agent's commission so she had a financial interest in the transaction.
My question is, if I explained this in a Complaint to Fannie Mae and/or the Federal Housing Finance Agency could either one order the Hawaii mortgage company to void the loan transaction, since the closing documents were illegally signed, and would they order restitution to my father who was conned into puttting down $101,000 for the down payments and paid another $18,000 in mortgage payments over the course of 8 months until he experienced financial ruin?
- middle son & executor of my father's living trust
1 Answer from Attorneys
You can try, but I doubt Fannie Mae or any other agency would do anything about this. You will need to get an attorney that handles fraud and elder abuse. You might want to look for an attorney that is licensed both in CA and HI, or one that handles federal cases.
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