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New Haven Financial Inc. / mortgage fraud

1 CA, United States Review updated:

NEWS FLASH!

New Haven Financial and Larry Rabinoff concede to breaking the law with respect to ALL of the factual allegations included in the Accusation filed on October 16, 2008, including the charges of:

1.

Misuse of trust fund accounts, including maintaining a negative balance.
2.

Failure to notify investors of borrower default on investments.
3.

Failure to maintain bank accounts in the name of broker as trustee, and failure to designate those accounts as trust accounts.
4.

Failure to maintain separate trust fund beneficiary records.
5.

Illegally charging financed points and fees in excess of $1000 or 6% of the original principal balance, exclusive of points and fees in numerous loans, in violation of the Predatory Lending Act.
6.

Failure to provide required disclosures, in violation of the Predatory Lending Act.
7.

Illegal mark-ups on various fees to customers, and pocketing the difference.
8.

Failure to disclose to customers in-house ownership of escrow division.
9.

Failure to retain proper records and disclosure statements.
10.

Failure to retain investor statements of suitability/qualifications/net worth/adjusted gross income.
11.

Substantial misrepresentations, including a continued and flagrant course of misrepresentations by intentionally engaging in this unlawful conduct or making of false promises through real estate agents or salespersons, undisclosed compensation, violations of the Real Estate Law, fraud and dishonest dealing and negligence or incompetence.
12.

Overall conduct of New Haven Financial and Lawrence Rabinoff constituting negligence or incompetence.
13.

Overall conduct of Larry Rabinoff constituting 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 New Haven Financial, and keeping New Haven Financial in compliance with the Real Estate Law.


REAL ESTATE LAWS 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)

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Comments

  • Fr
      9th of Sep, 2009
    0 Votes

    Steve Sutton and New Haven Financial has big news:
    Sutton has formed not one but TWO new corporations. Department of Real Estate lists him as designated officer for BOTH companies with the same address as New Haven Financial in Calabasas (24025 Park Sorrento #150, Calabasas CA 91302).
    Platinum Loan Servicing, Inc. DRE #01870499. Filed with Dept of Corps on 7/15/2009.
    Marquee Funding Group, Inc. DRE #01870113. Filed with Dept of Corps on 6/22/2009.
    New Haven Financial is the ONLY mortgage company to have been rejected for an exemption from the provisions of Civil Code Section 2923.52.). Is this Rabinoff's attempt at avoiding/evading restrictions on New Haven since judgement on June 17, 2009??? Note that Marquee Funding was filed only 5 days later.
    Rabinoff and Sutton are the only licensed brokers at NH, every one else is a salesperson.
    DRE: are you watching?
    Are NH's investors, customers, and employees about to be screwed again?

    PLATINUM LOAN SERVICING, INC.
    Number: C3149309 Date Filed: 7/15/2009 Status: active
    Jurisdiction: California
    )Address
    13701 RIVERSIDE DR #510
    SHERMAN OAKS, CA 91423
    Agent for Service of Process
    PAUL A BECK
    13701 RIVERSIDE DR STE 701
    SHERMAN OAKS, CA 9142

    MARQUEE FUNDING GROUP, INC.
    Number: C3148047 Date Filed: 6/22/2009 Status: active
    Jurisdiction: California
    Address
    13701 RIVERSIDE DR #510
    SHERMAN OAKS, CA 91423
    Agent for Service of Process
    PAUL A BECK
    13701 RIVERSIDE DR STE 701
    SHERMAN OAKS, CA 91423

  • We
      20th of Sep, 2009
    0 Votes

    This group, New Haven Financial, is a group of Real Estate Salesmen posing as Lenders and Mortgage Brokers. If you borrow money from them and you have any equity you will loose your home. They target people who may be distracted by divorce, loss of a job, over-extended and loan them enough money that they are confident it cannot be paid back.

    When you get the loan, they don't care if you are employed. They don't need an appraisal because they are real estate experts. The will hide the Deed of Trust and have you sign the last page. They will back-date documents. It's Jacklyn Sutton who leads that part of the fraud. She is at California Equities now. The sister company to New Haven who needs your equity to keep the doors open.

    They have lenders they work with like Marilynn M. Gantz who somehow aquires 4-5 trust deeds per year under her Revocable Trust known as Rancho Pacific Properties. She used to be married to Sandy Gantz, who is a valley Slum-lord who runs Gantz Properties, Inc. And this is an 80 year old lady who's signature changes often and is never seen. They have salesmen like James Powell, who will not call you, because he wants you to go into default so he can make extra fees. People like CEO Scott Fine who will threaten you if you complain and will tell you when they have faked a default, that it happens again they will take the home. No laws, no protections exists against these predators and bullies.

    They have their own escrow company, but they will not tell you that. They will tell you that you must sign their arbitration agreement, even though that is illegal. And the courts will let them get away with it all, because every Judge knows that you wouldn't be in court if you were not guilty. And Mr. Gary Torrell, of Valense Rows, will use lies, frauds, misrepresentation to legitimate the theft of your equity and possession.

    They will lie to you and say that your loan will be 'modified', but what they really mean is that they will hold a surprise Trustee sale, and buy your house for pennies on the dollar. If you sue them, they will change the name of their company. They will say they are a neutral party, and will not show up in court. They will forclose on you, extort money from you to buy it back, and THEN file a request to compell arbitration.

    Karen Larson is the person that coordinates this activily. She is a low rent individual who can look right through you and lie to your face. After they sell your home, you will deal with John Bentencourt, who pretends neutrality but in fact organized the inquiry into your finances, and pretends that you can buy your house back. In fact, he hooks up with law firm Able, Barr and Grant, who prey on Homeowners who are suddenly deemed by them to be 'Tenants" and do everything in their power to negatate any protections you might have had under bankruptcy. They will like about you and slander you in court. They will evict you in an Unlawful Detainer action where you will have no defenses.

    They will get a Writ of Possession and evict you from your house. Bentencourt will tell anyone who calls, that you are a ###ing idiot because you lost your home. They will hire a nasty property manager who will harrass you over and over again and tell you that you are tresspassing on your own property. They will charge you ridiculous amounts of money if you try to get your possessions out of your house, and hold a sale. They will misuse the laws to take your home, your money and your possessions. The goal is to leave you unable to defend yourself in court. They will ransack your home, take your dead Mother's silver, and your Father's watch and Service records and sell them to the highest bidder. If you try to stop them the Police will arrest you.

    You will have tried to get an Attorney, but none of them are a match for these white collar criminals and their two cut-throat lawyers. Most of them know these thugs, and have sign agreements not to defend anyone screwed by New Haven Financial. They will win, because they have the paperwork that you can't see. You are out on the street, while they attack relentlessly from the Century City towers.

    They have been investigated by the Department of Real Estate and were slapped on the wrist. They have been refused the exemption to have a real Modification program, the loophole., one of many, that eviserate the new laws to protect homeowners.

    And the Ringleader is Lawrence Rabinoff. He graduated from UCLA in finance. He runs this picture perfect 'Loan to Own" scheme. He has engaged in Identity Theft, fraud and and if they lose in court they will settle. But you must remain silent, so that their other victims will sleep well while they plot your distruction.

    LET ME REPEAT, THERE ARE NO LAWS THAT PROTECT HOMEOWNERS. DO NOT BE FOOLED. THE BANKS ARE KING, AND THE MORTGAGE BROKERS ARE THE LAZY PRINCES WHO FEED OF OTHER'S HARD WORK, BUT ARE PROTECTED BY THE ROYAL GUARD IF THEY GET CAUGHT.

  • No
      19th of Oct, 2009
    0 Votes

    Carlton: Still fishing? Fishing for a conscience? Hope the boat you and the remaining other bottom feeders are on at New Haven Financial sinks fast and sinks deep.

  • Mr
      4th of Nov, 2011
    0 Votes

    They are bottom dwelling fecal matter that absolutely can be beaten and punished by using their own documents against them. Pool your resources together and get your documents in front of a superior court judge. Recent changes in law provide for hefty attorney fees, (statutory), and punitive damages to the courts discretion. I suggest to those that have been violated by these mercenaries that you file a police report for CRIMINAL charges. Bring a copy of the violated codes to the cop shop with you. show them the loan docs. An officer will have to follow up and go visit them. its time to apply some pressure on this criminal property racket. How do they sleep at night? On a bed full of illegally obtained monies and they are proud of it!

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