Short Sale Stories

Want to know what can happen out there? read this letter from 2012 I wrote to AHSMI, a mortgage servicing company for Duetsche Bank. This is a true story.

Many years ago I got a degree in Classical Guitar Performance from the University of New Mexico, My professor has always been a lifelong best friend. I was his assistant professor while at UNM for a couple of years. He has credentials in the classical musical world that will make him historic. He fought in the Bay of Pigs (the Russian Missile crisis on the 60/'s during the JFK administration) He became a citizen in the 1960's.

He is approaching 80. I helped him and his wife, Jeanne, a teacher sell their Florida townhome late last year.

OK now fasten your seat belt.

The sale was completed, but after the close when the wire was sent from the title company through their bank…Coconut Grove Bank to Melan Bank the wire was intercepted by Homeland Security.  Melan Bank had sent notice to the title company (Coconut Grove Bank) where the wire originated that my friend was flagged as an OTAC Designated individual (terrorist) as his name matched a 54 year old drug dealer from South America.  An individual at the Coconut Grove Bank without any investigation confirmed that he was indeed the same profile as the 54 year old drug dealer. Melan asked for reconfirmation on the match and Coconut confirmed that. 80=54. There were other incorrect details that they confirmed apparently just reading the profile off the OFAC list they had, not bothering to check for accuracy.

Without any details on the above I got word there was a problem and my friend got a letter from the end Investor Deutsch Bank stating that they were foreclosing on the property that my friend just sold. That was Monday March 5th, 2012.

I started with Google and contacted Homeland Security eventually getting an agent familiar with the case. They were forced to intercept the wire upon confirmation of OTAC identification- Homeland regulations, they sent me to the FBI and DEA for help. But instead I talked to Jeanne, Hector's wife.

She had sent info to OFAC, of course you know who that is, no?? The Office of Foreign Asset Control. So I call them. I also find out AHMSI was the Servicing company on the file, so I call them, and then there is the Title Company Champion Title and Trust, so I call them as well, oh and don't forget Melan Bank the recipient of the wire. By now I've talked to everyone and am piecing this together.

I find the name of the person who misreported the OTAC match. Melan Bank says that they had to intercept the wire when notified by OFAC who had been notified by Homeland Security of the OTAC match. By now I know Reggie at the Servicing company and the name of his boss Mike, I'm friends with John at the Office of Foreign Assets Control… he is trying to help. I know Melissa and the name of her boss Christine at Melan Bank and then there's Bob back at Champion Title and Trust.

Melissa tells me she has to have an unblocking license from OFAC to release funds. I talk to John at OFAC, he said the funds should have been released on Feb 6 because he sent a fax to Melan Bank. I call Melan and they confirm they need an unblocking license.

On Friday March 9, I call John at OFAC again telling him of the quandary and give him the name of Melissa's boss, he already had the name. Then he calls her and calls me back and said the funds were flowing and this was resolved, as in DUH. I call the title company and notify them that the funds were being sent back to them. They confirm receipt and send them to AHSMI, so I get copies of that wire and receipt of the wire. Christine at Melan had misinterpreted the fax from OFAC. They would have waited for years for an unblocking license that would never have arrived.

On Friday Jeanne calls me and said they were served notice that Deutsch bank has served them paperwork and are suing them.

After my follow up, on 3/21/12 Deutsche dropped the suit.