First Magnus Financial Corporation dismissed from TCPA suit, but liable for RESPA illegal kickbacks
I’ve been so busy with my credit work and suits, had very little time to work on junk faxes. First Magnus was not only dismissed, but the judge encouraged them to apply for attorneys’ fees. Since I had to take the time to write an objection, I also sent my complaint to the Arizona Department of Financial Institutions.
I plan on filing my illegal kickback claim (RESPA) in federal court, hope I get to that soon. The complaint with the AZ licensing agency is highly unlikely to result in anything more than more material for my book on corruption in America.
The Fight Back!!! topic about First Magnus
I’m behind with scanning, but if you’re interested in the RESPA and TILA claims, check my Initial Disclosures, linked at Fight Back.
My 3/7/06 complaint to the AZ Department of Financial Institutions:
To:
Consumer Affairs
Arizona Department of Financial Institutions
2910 N. 44th Street, Suite 310
Phoenix, AZ 85018
March 7, 2006
Re: First Magnus Financial illegal junk fax mortgage lead purchases, payment of illegal kickbacks and false advertising of mortgages in violation of RESPA and TILA.
To Whom It May Concern:
Please investigate the First Magnus Financial Corporation dba Great Southwest Mortgage payments of illegal kickbacks in violation of the Real Estate Settlement Procedures Act (RESPA.) First Magnus paid kickbacks for mortgage referrals to lead generators who illegally sent unsolicited faxes with entirely false advertising of mortgages, violating the Truth In Lending Act (TILA) and the Telephone Consumer Protection Act (TCPA.)
First Magnus Financial Corporation #2
DBA: Great Southwest Mortgage
603 N. Wilmot Road
Tucson, AZ 85711
(520) 618-9000
home office #0903297
For your reference, I am including the 6/24/05 junk fax received on behalf of First Magnus, advertising an ARM with a 4% APR and rates of 1.25%, 1.343%, 1.444%, 1.552% and 1.669% for the first 5 years.
The advertised SAVINGS are not savings at all. In fact, they are DEFERRED INTEREST added to the loan amount.
Also enclosed are my 3/2/06 Motion for Reconsideration and my Initial Disclosures regarding the First Magnus violations of the TCPA in my suit in Kingman, AZ, Justice Court case # 80105 CV 2716 UN. First Magnus was recently dismissed because it did not send the fax to me and only paid the lead generator for the mortgage referral.
First Magnus loan agent Justin Fish was fully aware of the fax and its content, the audio recording is posted at http://fight-back.us/forum/index.php?showtopic=1088 First Magnus failed to acknowledge any wrong doing and apparently continues to pay these illegal kickbacks for mortgage leads obtained through false advertising and illegal junk faxes.
Please enforce RESPA and TILA not only with respect to First Magnus, but also issue an advisory letter to inform all mortgage brokers and mortgage bankers that lead purchases are violating RESPA’s illegal kickback provisions.
Just last week I received 3 more of these mortgage junk faxes advertising loans with entirely false terms and today I received an unsolicited call promising approval for “the lowest rate” regardless of credit and income! The call is posted at CreditSuit.org
Too many consumers’ lives are destroyed because they were deceived by unscrupulous lead generators and loan agents. Often their lies cause foreclosures, divorces and sometimes even death. I hope you consider the protection of unsophisticated consumers more important than scummy mortgage corporations’ profits.
Sincerely,
Christine Baker
c: posted at http://mylitigation.net/, http://fight-back.us/forum/index.php?showforum=89, http://creditsuit.org/ and at other websites
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