California Real Estate Fraud Report

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New Job Doesn’t Last for Crisp and Cole Mortgage Broker

Carl Cole, a mortgage broker whose business activities have been profiled recently on The F Word Blog, had a short-lived position with my own mothership, Keller Williams.

“He is no longer affiliated with the company,” said Cristina Better, team leader of Keller Williams Realty’s Camarillo branch.

Cole had been hired by Keller Williams after responding to an advertisement for agents to join their office. His departure was characterized by Better as a matter of “mutual agreement.”

Cole and his former partner at Crisp & Cole, David Crisp, are still under investigation by no less than the FBI and the California Department of Real Estate, which is alleging in its complaint that Crisp & Cole deceived lenders to the tune of $12 million to obtain home loans.

At least 83 properties – $68.5 million in loans processed by Crisp & Cole – have foreclosed so far, according to research by the Bakersfield Californian. This includes properties sold at public auctions at a loss to lenders of more than $14.8 million at public auction.

Read the Full Article in the Bakersfield Californian.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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