A Bowl of Stupid

Mar 30 2008

Sister, when I’ve Raised Hell, You’ll Know It!

11 responses so far

11 Responses to “Sister, when I’ve Raised Hell, You’ll Know It!”

1. # TKon 30 Mar 2008 at 11:57 am

   You see? You can flee to parts unknown, surfing at the end of the world, but you still cannot escape the modern nightmare of financial woe.

   Seriously, that sucks man. Would it help if I mailed them a photo of my butt?

   No?

   What if I got Manny to do it? You know he would (if he hasn’t already).

2. # Michael LittleBigon 29 Jul 2008 at 1:04 pm

   Your first mistake was dealing with AmTrust Bank on any level.
   Your second mistake will be filing a complaint with the Office of Thrift Supervision.
   The only real help that coould receive would be an elected congressman from your area were you reside.
   Government regulatory institutions are not there to protect you, that is a myth. You will spend time and effort and get absolutely nothing. These institutions are designed by the wealthy and powerful,by Congress and Banks. These Regulators only protect the Banks. You as a consumer mean nothing. Do the Reserach.
   This is America for the wealthy. The rest of us are here to support
   the Wealthy. Am I lying- absolutely not. After you go through all the pushups you will agree with me. Get an attorney and do the legal dance. That is where your attorney and the banks attorney
   dance in front of the court(the Band) until you run out of money.
   Been there done that,save time move to Canada.
   Michael LittleBig

3. # Gary Slusheron 19 Aug 2008 at 10:05 pm

   Thought you’d like to know about my troubles with AmTrust. I contacted the O.T.S. in 2006 and they were helpful – to a point, but I recently contacted them and it was a total waste of time.
   Good luck.

   AMTRUST BANK HAS STOLEN MY MOTHER’S ACCOUNTS

   Seniors, Beware! When you designate a beneficiary for your assets, the bank might find legal ways to circumvent your designations and confiscate your funds!
   It happened to Gary Slusher, whose mother had $47K deposited with AmTrust .
   Two months before Toby Slusher passed away, she made Gary the sole beneficiary on her accounts.
   However, Gary’s vindictive sister fraudulently used an expired Power of Attorney to steal the funds – a clear-cut violation of federal bank fraud law.
   AmTrust was quite reluctant to investigate the situation, and only did so when ordered by a government agency The Office of Thrift Supervision. They were able to recoup most of the money from the sister’s account.
   At that point, the right thing to do would have been to #1) return the funds to their rightful owner and #2) prosecute the sister for her fraudulent actions.
   However, AmTrust did not do either of these things. Why? If they simply returned the funds to Gary – specified as the sole beneficiary – there would have been nothing in it for them. Corporate entities always follow the path of financial expediency and greed.
   So, instead, AmTrust, in order to recoup all costs involved in their investigation, asked the court to determine who the rightful owner is. This was totally improper, and truly unjustified. After all, a 5-year old could determine who the rightful owner is! However, if successful, AmTrust would be 100% compensated for all “their time, trouble and legal fees.” And money is always the bottom line!
   For two years, AmTrust has stolen the money that Gary’s mother left him in good faith. The legal definition of “steal” is – the wrongful or willful taking of money or property belonging to someone else with intent to deprive the owner of its use or benefit either temporarily or permanently. Amtrust’s actions certainly meet these criteria! They have thrown up every possible smokescreen to try to keep Gary from his rightful inheritance and have forced him to run up exorbitant legal fees that are almost equal to the amounts in the accounts! A totally absurd situation – one that has been sanctioned and approved by the president of AmTrust, Robert Goldberg. When contacted by Gary Slusher, Robert Goldberg would not reply!
   So, if you’re thinking your assets would be conveyed in accordance with your instructions, think again! Toby Slusher thought she was leaving her funds to her son and trusted AmTrust to make sure he gets the money. But, they certainly did not fulfill their contractual obligations to her. Any ethical person would think that AmTrust would be totally embarrassed by their unconscionable behavior. But then again, corporations never are!

4. # Matt UKon 01 Oct 2008 at 4:57 am

   Hi ,
   Use this complaint to add to the case against AMTRUST.
   This is a GAP insurance policy claim incident,STILL ONGOING.
   The useless con merchants are still dragging out my insurance claim after two months of slowing down the process,they seem to be hoping I will give up and forget the claim as it becomes too much hard work to chase up.
   Even though I have co-operated with them at all times they have`not` recieved e-mails,I did send them on numerous occasions.They have `lost`essential information!!!!which was sent by recorded delivery and eventually sent the cheque,too the WRONG ADDRESS!!!!!!,even though all other correspondence was sent to the correct house.
   They now, after so calling it `just a typo error`have cancelled my cheque and this will take two weeks as their bank takes this long to unprocess it ,then they will re-issue another cheque to the correct address.This will take another 3-4 days to arrive by post and then 5 days for the cheque to clear.They have no other means of payment,although I am sure that if they require payment from me,they could take payment over the phone.
   Managers ….,when I request to speak to them are not available,or not in the office until this afternoon`can i get him to contact you` is their response.
   Amtrust cannot tell me which bank that the cheque has been issued from but can give me the cheque number and the amount it was made out for.
   As I was informed two weeks ago,the cheque had been issued.I put a deposit on another vehicle with the intention of paying in full on clearance of the funds from `THE CHEQUE`.
   I cannot work without my vehicle as public transport does not operate as early as my start times,therefore I have missed several days at work resulting in loss of monies and missed mortgage payments.The snowball effect of `just a typo error`.

   MESSAGE TO THE HARD WORKING GENERAL PUBLIC. `DO NOT DEAL WITH THESE PEOPLE,DO NOT TAKE OUT ANY KIND OF POLICY WITH THESE PEOPLE AS THEY DRAG OUT EVERYTHING,I PRESUME THAT AMTRUST HOPE YOU WILL EVENTUALLY GIVE UP AND THEREFORE DO NOT HAVE TO PAY OUT WHAT IS RIGHTFULLY YOURS!!!!!!

   I have informed the INSURANCE OMBUDSMAN about the situation and have also started the complaints procedure in writing.The ombudsman has forwarded a letter of complaint to the AMTRUST HEAD OFFICE.
   My next step is to now inform the newspapers with the intention of warning other people about the poor service,or lack of it that is provided by UNTRUST,sorry AMTRUST.

5. # cpon 27 Mar 2009 at 7:25 pm

   My wife and I are currently having an issue w/ Amtrust
   concerning our mortgage payment. This is the second
   time this has happened. We did in good faith make our
   payment but are being called on the carpet..for a deliquent
   payment. We have the cancelled checks to prove payment.

   Anyways..you cannot reach them..you will be placed on
   hold for hours if you wait. I went over to the local
   branch today to attempt to resolve this to no avail.
   I was dealing with an idiot of a lady who states that
   all of the branches no longer have mortgage representatives…
   they were laid off apparently. I was treated very rudely.

   We are going to take our loan to another bank. Just get
   away from this bank…they are very bad news!!! CONSUMERS
   BEWARE! We know alot of realtors….we will pass the word.

   They are losing a good paying customer. Bet…they are treating
   others like this too. I have heard that they are getting 0
   and 1 star ratings. Pretty soon Amtrust…will be AMDUST!!!!!

6. # aprilon 07 May 2009 at 11:38 pm

   well… im starting to see a pattern here!! I think they sent out mass deliquent notices in March to see would pay! On MANY occasions… I have been called and told Im behind and Im not! They report me late when Im current and add late fees to my account when Im current. I have to constantly get prove that I paid them and have them “fix: my account just to discover that it is wrong again in 2 months.

7. # Michel Olivieron 16 May 2009 at 8:48 am

   5-16-09

   I believe that AM Trust Bank is engaged in deceptive business practices.

   Recently I applied for a Loan Modification. AM Trust farmed out my request to Quicken Loans who would not allow me to select an appraiser. Their appraiser came up with a figure of $220,000 a 30% decrease in valuation of my home from my last appraisal of $300,000 a couple of years ago. The appraisal was replete with glaring errors. Instead of 5 rooms the appraiser stated there are 4. He also claims I have an oil-powered heating system in my cellar with a tank. In fact I showed him the new gas-powered system. There is no tank. He also did not include the sq ft of the deck.

   The square footage value used by the appraiser was disproportianately low compared to other homes selling in my area. When I used the existing rate the value of my home would have been $280,000.

   The significance of the above is that it set the basis for how much I could refinance my home for. My complaint to Quicken Loans was uselesss. They refused to re-appraise the contested issues. Right there you know you are dealing with crooks. They insisted that I accept the appraisal if I wanted to be considered for a refi.

   After providing them inumerable documents, they informed me that because I owe $ on my 2009 taxes I did not qualify. I told them that I was enterring into a payment agreement with the IRS. They could care less.

   This might seem inocuous until you consider the following, which to me suggest a intentional pattern perpetrated by AM Trust to circumvent the Homeowner Affordability Act intended to assist homeowners in modifying their existing mortages in order to avoid Foreclosure. I am of the opinion that AM Trust is doing the same to other applicants as they have done to me.

   Finally AM Trust got back to me re my loan modification. This federal legislation is intended to help homeowners with their first mortgage. Instead AM Trust selected my second mortgage (Quicken had already denied the refi on my first). The 2nd mortgage is 75% smaller than the first.

   Again, after being passed from one employee to another I eventually was dealing with one Jill Krakowski, Loss Mitigation Negotion Specialist. I provided her the numerous documents she requested. Initially she stated that in order to qualify I would need to show a surplus (between my expenses and income). This in and of itself makes no sense since a qualifying criteria of the Homeowner Affordability Act is that the ratio of mortgage cost to income exceed 31%. And that based upon a comparison of income to expenses, a hardship exist. Obviously if a surplus is shown it raises the question as to hardship. However Jill stated that I would not be consisered for the modification if I did not show a surplus.

   Correcting for errors, and adjusting my expenditures downwards I was able to show a monthly surplus of $300. Ms Krakowski summarily sent me an e-mail informing me that because my budget shows a surplus, I therefore do not have a hardship and she denied me the Loan Modification

   I have her e-mail evidencing the contradictory and duplicitous statements.I am convinced that what occurred was by design. And that AM Trust is perpetrating this fraudulant business practice on others as well. So there it is. I applied for a Loan modification pursuant to President Obama’s Homeowner Affordability Act, and what I encounterred from AM Trust has been a means by which it appears they believe they can circumvent the intent and spirit of this federal legislation.

   I will contact the Office of Thrift Supervision, and the State Banking Regulatory Board to file complaints, and request an investigation. I encourage others to post similar experiences with AM Trust Bank on this website. Perhaps a clas action suit is warranted.

8. # mpoon 11 Jun 2009 at 9:45 pm

   Groups call for stronger regulation of real estate appraisers
   Posted by Associated Press August 20, 2008 16:27PM
   Previous story:
   • Efforts to regulate appraisers described as failureFour national associations of real estate appraisers have asked Congress for major regulatory reforms in the wake of an Associated Press investigation that identified key failings within the existing system.
   Led by the Chicago-based Appraisal Institute, the groups said Wednesday they want the Congress to approve more money so that state appraisal boards can boost enforcement efforts.

   They also called on lawmakers to increase the oversight authority of the federal agency charged with monitoring the appraisal industry.

   The AP’s investigation found that since 2005, more than two dozen states and U.S. territories have violated federal rules by failing to investigate and resolve complaints about appraisers within a year. The AP also found that the only tool federal regulators have to force states into compliance has never been used.

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   COMMENTS (2)Post a comment
   Posted by marshalld on 08/20/08 at 6:36PM
   A tad late for that after they all gave bloated and in many cases fraudlent appraisals to banks and brokers . This has been going on for years and it will now just go underground is all ! It is tough to keep accounts and be honest when the people that give you the business push you to ” FUDGE” the numbers so they can get a worthless client financed . They were a part of the collapse now that has brought the housing industry to its knees. needless to say greedy banks , syndicates , brokers and bundlers also played a role . plenty of blame to go around for this debacle .

   Inappropriate? Alert us. Post a commentPosted by MichaelLB on 08/24/08 at 7:08PM
   In 2003 AmTrust Bank (who at that time held my mortgage of 2-1/2 years) required an appraisal of my property in order for me to refinance the current mortgage balance. Since I was not requesting additional monies, I was qualified for a refinance under federal regulation and also under AmTrust’s Board of Directors Appraisal Policy which said no appraisal was needed if no new money was to be advanced. However, AmTrust changed the purpose of my loan purpose from a “no cash out refinance” to a “cash out refinance” – which meant an appraisal was required (even though I never missed a payment.) The purpose of my refinance request was to lower the interest rate to offset the increase of real estate taxes and improvements. AmTrust’s staff appraiser, their employee and an Ohio state licensed appraiser of 12 years, performed the appraisal. AmTrust denied my refinance request based on the appraiser’s market value. In essence, the bank stated that my property was not worth what I owed on it (this was at the upswing of the real estate boom in 2003.)

   In September of 2006 I filed a complaint with the Ohio Division of Real Estate claiming my appraisal was flawed with 4 violations. After one year, the State discounted those 4 violations but charged the appraiser with an additional 5 violations of state law and rules of the American Appraisal Board (USPAP.) In September of 2007 AmTrust’s attorney (on behalf of their appraiser) and the State of Ohio made a deal behind closed doors. The settlement agreement stated that their agreement was made to “save time and money”. The appraiser pled guilty on 2 violations.

   I brought to the attention of the Real Estate Division’s Attorney (Mr. Woodruff, who did the settlement) that the bank’s attorney and the bank’s appraiser were both employees of the bank which mean that the bank was a client of the attorney and the appraiser. That in itself raised questions regarding the settlement. The punishment for the appraiser was only an additional 14 hours of real estate education. My punishment was that this flawed appraisal became the catalyst for the foreclosure and sheriff sale of my home of 7 years.

   The State of Ohio was remiss in their investigative responsibilities for not looking at previous appraisals that this appraiser performed – which, by law, must be kept for 5 years. I believe they could have found a pattern of flawed appraisals existed. It would have been a simple matter for the state to request those records. If this licensed appraiser of 12 years could do this much damage to me, then logically (and most likely) he has repeated his lack of appraisal standards on other past appraisals.

   The State’s citation of the violations of this flawed appraisal also triggered violations of federal appraisal regulations (12CFR564) and violated the AmTrust’s Board of Director’s written Appraisal Policy.

   I fought the State’s settlement agreement by contacting State Senator Dale Miller, Senator Steve Stivers and Governor Strickland. There was no response. The Ohio Attorney General’s office said that they represented the State in the settlement agreement. Who represented me? (In three other states, for example, their governments have sued Countrywide bank – a federal savings bank – on behalf of their citizens that were financially harmed by bank mis-dealings.)

   The Congressional Appraisal Sub Committee under the mandate of Congress told me that they audited the States for appraisal compliance, but there was nothing they could do regarding my flawed appraisal. The Office of Thrift Supervision denied there was any violation of federal regulations – even though the flawed appraisal violated 5 Ohio State laws as cited by the State of Ohio. The Inspector General of the Treasury agreed with the OTS. There was no response from my elected Congressional Senators Brown and Voinovich.

   The State of Ohio and the Federal government has no credibility with their appraisal regulations and laws. The federal regulators are pathetic. This is proof of the wealthy and the powerful protecting the wealthy and the powerful through government regulation – or rather the lack of government regulation.

   I read that the projected foreclosures by 2008 year-end will be 4 million and by 2009 year-end will be 6 million. Out of 6 million foreclosures – how many have flawed appraisals? Of those homeowners who have lost their homes through foreclosure due to a flawed appraisal, who is held accountable? Of those 6 million foreclosures, how many foreclosed homeowners even know that their appraisal was flawed with the inability of the States and Federal Regulators to perform their duties? The mortgage borrower has no rights or redress to object, contest or question the actions of a federally chartered savings bank that has harmed them – even though that federal bank lends mortgage money under the same regulatory system. The Office of Thrift Supervision (the bank’s supervisor) states that there are no Federal Consumer Banking Regulations to protect the borrower. Our elected officials have done this by legislative design to protect the wealthy and powerful banks.

   As more of the American public is educated they will begin to realize that property appraisals – if flawed – can cause them to suffer financial devastation with no redress through the state and federal systems designed to protect them. Basically these systems protect the appraiser that has been negligent in performing the appraisal.

   The Associated Press, as a result of their recent 6 month investigation of the federal and state officials who should be accountable to maintain the integrity of the appraisal standards, stated those officials have been negligent in their oversight responsibilities and in enforcing those violations that exist. A source close to the investigation said that out of 27 states, Ohio had the most appraisal complaints.

   It is frightening to think that the entire real estate system of buying, selling and financing property appears to be collapsing because of the negligence and arrogance of the State and Federal appraisal systems – that supposedly are there to protect both parties in a real estate transaction. From my standpoint, a property appraisal in the State of Ohio is questionable, at best, because the Ohio system to maintain the integrity of the appraisal through effective enforcement is non-existent. The mortgage borrower has no voice. State and Federal oversight of the appraisal process is a myth.

   Michael LittleBig
   8-24-08

9. # Michel Olivieron 12 Sep 2009 at 11:19 am

   Update on ongoing battle with AM Trust Bank. Here is a copy of my complaint letter to the Office of Thrift Supervision, and to AM Trust Bank. Let’s see what happens. Keep you posted. You can also go to CNNMoney .com (Talkback: Mortgage modification) to see the over 700 other people who have been screwed by banks in their efforts of obtain a Loan Modification
   September 12, 2009

   Office of Thrift Management
   1700 G Street NW
   Washington,DC 20552

   Subject: Loan # 0006872126
   AM Trust Bank
   1801 R.9th St., Ste 200
   Cleveland, OH 44114

   This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA),

   I am writing because I feel that the recent denial of my application for a Loan Modification, by Ms Jill Krakowski, Loss Mitigation Negotiation Specialist, AM Trust Bank, was unfair. I feel that she mislead me, and lied to me. And, the most recent denial of same by “Kirk” was simply further evidence that AM Trust Bank is systematically denying such applications by making it impossible to qualify.
   On May 7, 2009 she said to me in an e-mail (attached): “to qualify you, we need to see a surplus at the end of our process”.
   When I showed her a suplus, she responded (see attached e-mail of 5-14-09) “Showing a $258 or $312 surplus does not indicate a hardship. (…) At this point I am required to close your file due to no hardship”.
   These contradictory statements clearly show that Ms Krakowsky never intended to qualify me for a loan modification, pursuant to President Obama’s Home Owner Affordability Act. There was no way that I could meet her requirements since in either case, whether I did or did not show a surplus she made it explicitly clear that I would not qualify and would ultimately be denied.
   The criteria for eligibility for a Loan Modification is that the ratio of mortgage payment to income ratio be more than 31%. This in fact is the case in my situation as I showed in my original application for a Loan Modification.
   Whether acting on instruction or arbitrarily, Ms Krawkowski ignored the above standard and in lieu deceived me by stating two opposite criteria. No one can meet the criteria of not having a surplus and having a surplus. Therefore I conclude that Ms Krakowski arbitrarily or in concert with AM Trust Bank found a convenient way to circumvent the letter and the spirit of the Home Owner Affordablilty Act.
   I sent an e-mail to the Manager, Loan Mitigation Dept., AM Trust Bank (5-15-09) protesting the conduct and decision of Ms Krakowski, and asking for a reconsideration of my Loan Modification application, by a different (competent) Loan Mitigation Negotiation Specialist.
   I subsequently refused to have any further dealings with Ms Krawkowski (naively assuming that what had occurred was of her doing as compared to a systematic plan of AM Trust Bank to deny qualified applicants a Loan Modification by doing exactly what she had done).
   I then contacted the Manager of the Loan Mitigation Dept. who in turn referred me to “Kirk”. After providing him more copies of my paystubs (evidencing my reduction in income, hence proof of Hardship) and waiting an inordinate amount of time for a response, I received a letter denying me a Loan Modification (attached). The reason provided was identical to the earlier one, i.e., that my income level indicates that I cannot pay my mortgage and therefore do not qualify for a Loan Modification.
   I thought that was the purpose of the program!? … to help distressed homeowners who have a Hardship, by reducing the monthly mortgage payment. In my case what I was looking for was a reduction of the existing 9.65% interest rate to something more affordable, like 5%.
   My ratio of income to debt shows that I have approximately $200 per month more debt than income. A reduction of the interest rate would reduce my monthly mortgage payment by approx $200. I have faithfully paid my mortgage to AM Trust Bank for 4 years, and just made my current mortgage payment. Where is the evidence showing that I should be denied a Loan Modification? The recent unsigned letter of denial from the Loan Mitigation Dept. instructed me to notify them if my income increases, or to sell my home. Needless to say were I to experience an increase in income, and then notify AM Trust Bank of such they would inform me that I do not qualify for a Loan Modification because I “do not have a Hardship”!!! This is a no win situation and evidence of how AM Trust Bank is perpetrating deception, and circumventing the spirit and intent of the Presidents’s Home Owner Affordability Act.
   I am convinced that I was unfairly denied a Loan Modification (as I imagine many other applicants have and will be). I ask that the Office of Thrift Management and/or any other federal /regulatory body to investigate what happened to me, and to effect whatever statutory remedies that are available.
   Attached find my formal letter of complaint which I sent to Ms Horvaph, Manager, Loan Modification Dept., AM Trust Bank (5-18-09), and my most current letter of complaint regarding the denial of my application for a Loan Modification.

   I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

   September 12, 2009

   AM Trust Bank
   1801 R.9th St., Ste 200
   Cleveland, OH 44114

   Attention Customer Service:

   Subject: Mortgage Loan # 0006872126

   This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA),

   RE: Denial of my Application for a Home Loan Modification

   I believe that your denial of my request for a Loan Modification is unfair and may constitute a violation of laws/regulations.

   The criteria utilized by AM Trust Bank to determine eligibility is both unfair and impossible to meet. Your requirement that I show a Harship (whch I have done) was deemed a disqualification, because of AM Trust Bank’s decision that I cannot pay my mortgage (in spite of the fact that I have been doing so for years, and on 9-10-09 made my current up-to-date mortgage payment).

   When I first applied for a Loan Modification I was informed by Ms Krakowsky that “showing a … surplus does not indicate a Hardship (… and) at this point I am required to close your file due to no Hardship”. This is contradictory to the statement provided in the recent denial letter that when my income increases I should notify the Loan mitigation Dept. for reconsideration. Doing so will only result in my being denied again because I (alledgedly) “do not have a hardship”.

   Your contradictory and impossible criterion seemingly evidences that AM Trust is engaged in a duplicitous activity intended to circumvent the spirit and the intent of President Obama’s Home Owner Affordability Act.

   My formal complaint and request for an investigation will be made to the approriate federal and state regulatory agencies.

   I understand that under Section 6 of RESPA you are required to acknowledge this within 20 days and must try to resolve the issue within 60 business days.

10. # Michel Olivieron 17 Dec 2009 at 11:19 am

    12-17-09

    I thought that this might make your day. I’ve been waiting for the results of the OTS investigation since I filed my complaint with them against AM Trust Bank. I haven’t heard anything yet.

    Looks like I’ll be submitting my request for a Loan modification to New York Community Bank.

    AM Trust finally got what they deserve. May they rot in hell!!!

    FDIC Information for AmTrust Bank, Cleveland, OH
    On Friday, December 4, 2009, AmTrust Bank, Cleveland, OH was closed by the Office of Thrift Supervision (OTS). Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

    All deposit accounts have been transferred to New York Community Bank, Westbury, NY. For more information on New York Community Bank, visit us at http://www.mynycb.com/welcome.

    The FDIC has assembled useful information regarding your relationship with AmTrust Bank. Besides a checking account, you may have Certificates of Deposit, a business checking account, a Social Security direct deposit, and other relationships with the institution.

    Please select the link below to read more about this event:
    FDIC Bank Closing Information for AmTrust Bank

    All branches are open and business, including all online services, will continue as usual.

11. # natalieon 10 Feb 2010 at 2:04 pm

    Michel-

    I had the same exact issue with Jill Krakowski and unfortunately she is still at Amtrust. I would like to know how you are doing as she is horrible. I am dealing with the FDIC directly now. I am hoping to get this done