Special Warranty Deed: Wrong Legal Address #2

Same as recorded elsewhere on this website, during the sale of a Yosemite Street Condominium unit owned by Williams, Williams signed the Special Warranty Deed, falsely indicating that the buyer’s legal address was that of the unit being purchased. Williams had instructed the buyer to take a photo of himself at the property in a bathrobe to prove he had lived there (something Williams made a habit of advising). The buyer adamantly indicated that he would not lie about the address of his residence and also that he would not agree to William’s frequent urging to apply for an owner-occupied mortgage.
However, the Disclosure Notices document, “Affidavit of Occupancy” is marked correctly, as “Investment Property.”

Uniform Residential Loan Application Lies

In assembling the buyer’s (VICTIM 1) mortgage application, Williams knowingly misrepresented buyer’s assets. Williams indicated Net Worth (“a” minus “b”) assets of $46,978, which amount did not represent assets, but actually, the liability of funds borrowed in “cash back” schemes of two previous condo units at the Yosemite Street Condominium complex.
On the same page of the same form, Total Liabilities list the buyer’s combined three mortgages as $303,757, which is about $20,000 less than they actually total.

Real Property Transfer Declaration (TD – 1000) Lie

On the application filled out by Williams for the sale of a unit in the Yosemite Street Condominium complex:Line 8. Is this transaction among related parties? Indicate whether the buyer or seller are related.”
Williams falsely checked the box that indicates “No.”

Williams committed this fraud to conceal existing and planned extensive fraud that he had devised, using his ignorant cousins VICTIM 1 & VICTIM 2, who now admit partial complicity, to quickly create hundreds of thousands of dollars of “profit” on distressed, long-vacant buildings.

Usurping Control of Client’s Purchased Real Estate

In order to encourage the buyer (VICTIM 1) to purchase additional units at the Yosemite Street Condominium complex, in addition to the enticement of $30,000 cash back, Williams offered to manage the rental of purchased units. However, in violation of the owner’s insistence on obtaining a security deposit, Williams moved renters into his client’s unit, without obtaining a security deposit, without collecting any rent at all, and without even getting a lease signed. This made it less likely that Williams would ever complete the promised renovations, and further, Williams told the renters to do the painting which he had promised to do, in exchange for two weeks free rent, none of which he was authorized to do.

Williams Usurped Authority over Buyer’s Loan

Williams was assembling the buyer’s mortgage application, and urged the buyer to make a five percent down payment, however buyer insisted on putting ten percent down to get a better mortgage rate. At closing, the buyer found out that Williams had instructed the mortgage broker, Andy Inhelder, to prepare the loan with the five percent down payment that Williams had insisted upon, against the buyer’s direct instruction. Williams explained that his motivation was to get more cash back to the buyer, to use those funds to apply for additional units, as he repeatedly claimed, he was putting his clients on “the fast track,” to make them rich quickly.

Falsified Verification of Deposit (to falsify income) #2

This incident perpetrated for the purchase of a unit in the Yosemite Street Condominium complex with VICTIM 2, Williams added his client’s name to William’s own business checking account, and then included statements from that account with the mortgage application to mislead the lender into believing that the deposits in William’s own checking account actually represented the buyer’s income. 
Also, months after the closing, the buyer learned from the Uniform Underwriting and Transmittal Summary, Section III, Underwriting Information, that his income was falsely indicated, “Stable Monthly Income,” Base Income $10,000 for the buyer.