All Forum Posts by: Kathy Utiss

In Sept 2001 I accepted employment with an agency that lied for 2.5 years about their written ability to sell mortgage notes. Had they not lied I wouldn't have been selling mortgage notes. After, I lost my job because they lied I still had a way to pay my bills. But no amount of money was enough to get honest biz done. 

It's after this that I started to doing my ancestry work. Having been one of America's top mortgage collectors the 1st thing I did was check to see if my great grandfather updated any info I didn't have that would enable me to understand what happened to him. 

As he was in early "Hollywood" he was a "Showman." He had a sideshow/freak-show he traveled our country with.  It was known as "The Hollywood Sideshow." By researching him thru out "The Billboard" I found out he was biz associates with "Johnny Coons."

If you don't know who this was he was the son of "Carleton Coon." If you've still never heard of these names I invite you to look at "The Coon Sanders Nighthawks" the 1st Novelty Orchestra on radio. The 1st band to make radio famous vs radio making someone famous. As their initial touring fee's earned helped start MCA. 

"Johnny Coon" ended up staying in the music biz. He worked for the ARA-American Recording Artists. He represented the likes of Red Foley, Roy Acuff, and Maurey Amsterdam. His grandfather "Claude Coon" sold the syrup that went on to become Coca-Cola.

A magician who knew my great grandfather wrote a book including information that show's my great grandfather once worked for "Ripley's in Hollywood."  I'm sure this is probably when "Lou Dufour" was still with "Royal American Shows."  When I checked to see if he updated info he gave the names we knew him by. His stage name of "Johnny Howard." The supposed family name of "John Edward Sundstrom."  His father he put down as both a Howard/Sundstrom as well. His mom he put down as "Katie O'Hara as in "Gone with the Wind." I thought it was all a fluke of information. Who wouldn't right? 

Yet my great uncle whose wife was my great grandmother's sister was a miner. He was involved in many industries gold, copper, silver, steel, coal,rolling mills, and railroads. He also was involved with the quarry that provided the stone for many courthouses, post offices, and other buildings in Texas, and Arkansas.

 The list goes on and on. One of the main men he was a miner for was "William Collins Whitney." If you don't know who he was well he was over the "1st Holding Company in all America." It was his grandson "Jock(John Hay)Whitney" who PAID to say my great grandmother NEVER EXISTED. "Jock" was the son of "Helen Hay" the daughter to "John Hay" the right hand man to "Abe."

"Mr. Whitney" was married twice his 1st wife married him into "The Standard Oil Fortune." His 2nd wife was "Edith Randolph." The daughter of Dr. Frederick May. He is the Doctor who examined both "Abe" and "John Wilkes Booth." In doing more family research there are people who put my grandmother down with a different father into the Whitney family tree. The same tree Jock is a part of. His sister was Joan Whitney Payson. Her husbands family once owned the farm the "White house" sits on. She also once owned "The NY Mets. 

https://www.amazon.com/Side-Show-Geeks-Freaks-Vagabonds/dp/0941543285

http://www.archive.org/stream/twentiethcenturyv1padd#page/n565/mode/2up

The government will do whatever they want to do. At least that's my theology. How did I come to such a conclusion? Well in my case my story starts before birth. Only it's taken me year's to figure out just how much they really operate with "Unclean Hands." I'm not saying the crisis isn't real. As I'm now a essential employee vs one of America's top 3rd party mortgage collectors for two of the top banks in our country. 

For the million's that have to face eviction for whatever reason you would never think you would face eviction over the way you have to pay. As being one of America's top mortgage collectors I'm limited in how many ways I can pay. As I lost my job over a couple of circumstances. The 1st being an employer who lied    (for 2.5 YEARS) about their contractual ability to sell mortgage notes for one of the largest banks in the world. The 2nd being a rogue debt investor whose only intent is to put money in her pocket. Who has no hindrance suing a bank or homeowner just the same. She really takes the cake. I found out in the last few years she got accused even of hiding assets in court. 

At any rate the only way I could pay is if I could get honest biz done for my investors that I've gained a repore with. One was willing to buy NPN to the tune of like $150,000 per month. But they wouldn't sell them the notes because they weren't spending $3-$4 million per month on NPN's. My other investor had $10 million to $50 million per month for deficiency balance notes. They couldn't get biz done either. As once said bank sold the worst possible notes they still wanted to make money on them! Excuse me but how the hell do u continue to make money on something you just sold? It is the equivalent of paying cash for an auto at $5,000 then saying give me an additional $300 a month indefinitely!

To summarize I lost my job as my employer once again lied about their written ability to sell mortgage notes for one of our largest banks. I went to court with the only way I had to pay. My attorney sold me under the bus after I did everything I was supposed to in order to have a way to be responsible. As I was raised to be such like many other millions of American's. It really defeats having a way to pay if no one will listen! 

After what my attorney did I sued a Fed Judge for all the people that go to court with no way to pay it defeats having a way to pay if no one will listen! I made two separate federal judges recuse. The 1st summarily denied everything as frivolous.( That I filed everything to harass the court!)  Yet I've always stayed out of court, and had/have a fiduciary responsibility to speak if I can do things to avoid bad things happening for millions of people.

 Then Sua Ponte-On Her Own Motion--Came back disqualified, and recused.  The next judge recused as well. Thereafter, I was surprised she (1st Judge) sounded like a "Wild West" character as she was known as "Hang Em High Jackson". 

My grandmother unfortunately died in 2011. Prior to death she wanted me to find out as much as I could about our family history. Omg I figured out I have been DNA tracked. And that it never mattered that I went to court with a way to pay. As any KYC-Know Your Client-Form I would or could do would be inaccurate. As I've figured out my uncle was the miner for the man over the 1st Holding Co in all America. And even if they lost the assets somehow they have still claimed for over 80 years my family never existed. And everyone in the country knows my grandmother by the world famous fictional name they gave her. They as well have made over $200 million claiming she was FICTIONAL! Then I found out the man my uncle was a miner for someone has put my grandmother in this family tree. The man who paid to say she never existed is in this family tree as well. Even one of the family members had the farm the "White-house" sits on!

How I figured out I was DNA tracked is I was threatened by a rogue POS who tries to demoralize people by threatening their jobs.(Not Trump) He knows why I'm tracked! As I was threatened when I informed one person of what I know and they went blabbering him. I was then threatened that even if I found out about the money I'd NEVER GET TO IT! Only I didn't know at the time what he was talking about!

Yep most jobs lie to get you in the door...In the biz a few years do you think I didn't ask them if they had the written ability to sell the notes prior to taking the job?   Of course they did is what I was told. Who would think a company could get by with lying about such written ability? But what employee is going to get such a bank to show that WRITTEN ABILITY? Or that you would have to decipher everything you learn to understand what they really have coming next for all of US?

Many great comments here. Good to have so many different inputs.  I've been in asset management since 1994. Prior to the 08 crisis we figured out a way to stop it from happening. This concept has been approved since then. The issue is many people do one thing in this industry. That is talk. 

In this industry rather you are a homeowner purchasing your 1st home. Or a property investor investing in whatever you invest in there are similarities among all of us in the way we purchase. We have to qualify with having jobs for xyz amount of time. Proof of that income. We all know the higher the score the more prospects someone has to rent or purchase any property in this country. 

 Many assets require large sums down to purchase. While the investor thinks the property will be beneficial to their portfolio there is an issue.  The homeowner faces this same issue. That is if something happens beyond their control they could end up screwed. 

* Money down is lost

*Income is lost

*asset appreciation is lost

*credit scores fall as income isn't always replaceable. 

Some put their life savings into buying a home, business, or a income producing property. One can't predict life changing circumstances but they happen. Sometimes even if one has reserves they could be depleted in such conditions. 

The banks insure everything on their side. Yet those of us that buy properties could lose it all. They don't INSURE the person putting the money up to purchase. There's no guarantee if you have to use their courts you will win. Even if you have money. 

So the best bet is to insure your debt against default at origination. By doing such you can get an interest only loan. By prepaying your debt you keep what would be your usual principal payment for the life of your loan. You avoid usual reserve requirements. As YOU ARE ACTUALLY prepaying your debt into the future at a discount as well. So all the pitfalls you have above are avoided. If someone can't pay once in a while you won't be so hesitant to give a hand up. Many don't believe in not paying their way. 

By insuring your debt at origination you end up with two assets --the property or business- a treasury that matures and pays off in 30 years. Bankers agreed to it cause they make more money using our idea. It's still best to make sure any property will debt service as you would accordingly. But the idea really puts real estate and banking on steroids.  If done correctly it could revamp incomes for many American's. Just like my life is a "True Ripley's Believe It Or Not Story" this is as well!

Besides what has been mentioned the other thing is some HOA's depending on the state don't allow modular homes. We have a lender in place to become a modular home reseller. The nice thing about this lender is that since they are the lender they have many modular home companies to choose from.

The scenario we are working on the new build modular homes are 3,000 sq ft going for over $110 sq ft and are being built for less than 65% ltv. This includes the purchase of land, improvements, and homes.  The nice thing is land owner comes from a family of builders with over 160 lots.

I know the lender does multi-family, they even do modular Marriott Hotels. But to do large projects you need like $2m or a jv partner with it.

Zero coupon treasuries are Triple A Rated, they are issued at a discount and mature in 30 years if those are what you buy to insure your loans. Banks usually use 10 yr treasuries. Letters of credit come in handy as well. 

That is a $28,000 difference. A lot of people will tell you not to go by Zillow alone. I'm not going to guess on such a discrepancy. Use other free tools. Look by homes sold recently, see what homes are selling for with same amenities, and sq ft. Maybe, have a realtor do a BPO. Or you may even want to hire a home inspector depending on how serious you are in figuring out numbers. You don't want and need surprises you can't afford :) 

I'm in O'Fallon, MO west of this area of St. Louis. This is a lower income area. There are always people needing affordable homes. But this area is riskier for tenants. As you are dealing in the city of Florissant at this point. The appreciation on property won't be as good as if you invest in other areas of St. Louis. Still in the city but the potential to rehab, gain a lot of equity, and rent to hold opportunity is better in like the 63108, 63118, 63116 zip codes. There may be other areas as well. As Kathy said a Pm could help. But if you do your homework in those zip codes you can do it yourself. Online tools are very helpful. As some real estate websites give free info. I like not to promote or anything Realtytrac as you can put in a street name and get values comparable as an appraiser is likely to do by area and sq ft with repairs done. By using the currently solds, for sale and such. 

This is what they say about the CARES ACT in Texas. I would assume most of the requirements are universal .

https://www.kbtx.com/content/news/Local-bank-to-provide-CARES-Act-loans-to-community-569193501.html

Good evening...Since, about 1994 I've been in the asset management industry. I initially got into the biz via recovery on credit cards. Then the more experience I got the better my opportunities got. In 2001 I started doing recovery work via a 3rd party agency.  In February 2004 I found out the agency I accepted employment with never had it in their contract to sell mortgage notes for xyz. Then the other company didn't sell their's but did end up selling theirs. I know it sounds confusing. But in some cases google can be our best friend. I've been documenting my experience since about 2007 when I found out the people wanting to be paid couldn't prove ownership. 

I proved this in court. Instead of being made to pay fines as putting fraud into the court knowing it's fraud is supposed to be a $500,000 penalty I was made to be a deplorable. You know being one of America's top asset managers the only way I had to pay to keep my home since they lied depended on me getting an opportunity to get honest business done.

As it really defeats the purpose in having any accredited investor that can spend $150,000 a month on npn or an investor with $10-$50 million per month on deficiency balance notes if you can't get honest biz done!

Needless, to say the attorney that refused to file an adversary when I did my own and put his in with it things went POOF in the East Dist of MO-St. Louis. 

Currently, if you put money down to purchase a property it can be up to 30% down. That's to get a loan usually 30 yrs in term on a p/i basis + your taxes+ ins. If when you close on a loan you insure it yourself against default YOU DO some interesting things.

*You INSURE your PRINCIPAL at a discount. (Avoiding Reserves)(TRIPLE A+ RATED)

*You INSURE your DOWN PAYMENT against loss

*You end up with an interest only loan for the lifetime of your loan. Meaning all that principal like 18 yrs WORTH YOU as an INVESTOR keep in YOUR POCKET.

*INTEREST is A YEARLY PAYMENT

* You still gain property appreciation as well 

You can only do what you can to protect you. What their offering is short term assistance. Anything that modifies or extends means you owe longer. I've seen things one could never imagine.  I respect professionalism as I've always attempted to be one. But unless you want to waste money you don't have I'd get out of any p/i loan and you avoid such catastrophes such as this. As even if a certain percentage get down to paying you should still make enough to pay interest. Which is better than ever chancing default in a cruel world that won't care what your abilities are. 

If you have a way to manage without doing a modification on the account or a forbearance you are probably better off. I've been an asset manager and once an account goes into delinquency chances are you could face issues you could never imagine. Most banks suck at servicing accounts. It's quite interesting what they get by with as well. If you enjoy the assets you already own seek other methods. That protect you as an investor now and in the future. If you have more than one property perhaps doing a whole new loan would be better. The rates are low. There are loans you can get done that are interest only without balloons. Maybe a blanket loan. Interest only loans vs P/I really puts an investor in money mode :)