Metro-West & World Appraisal October 2004 Newsletter



		Volume I, Issue 7 October, 2004
	Metro-West and World Appraisal offers a free monthly newsletter to help better serve our clients. Each month you will receive a newsletter with helpful tips, recent articles, monthly jokes and any upcoming events. Please let us know if you have any suggestions you would like to see in our newsletter. We will also be answering any questions you might have.




	News “Michigan mortgage lender under scrutiny” “The Michigan Office of Financial and Insurance Services (OFIS) has issued a cease and desist order against World Wide Financial Services, Inc., better known as Loan Giant, requiring it to stop violating Michigan law and engaging in fraud, deceit or material misrepresentation in connection with mortgage lending. OFIS investigators allege that CEO Jack Wolfe personally authorized transactions dubbed “Portfolio” or “Phantom” loans. In these transactions, Loan Giant loan officers allegedly prepared and executed purchase money mortgage loan documentation with no intent to actually fund the loans. By engaging in the “portfolio loan” scheme, Loan Giant was allegedly able to–through false documentation–transform an otherwise non-conforming purchase money transaction to a refinance, which was then ready for resale on the secondary market. According to news reports, Loan Giant has also been forced to repurchase a series of delinquent loans sold to GMAC Residential Funding Corporation (GMAC RFC). GMAC RFC also reportedly filed a lawsuit against World Wide Financial services DBA Loan Giant in the U.S. District Court in Minnesota in February 2004 alleging the loans purchased from Loan Giant had a variety or problems from false employment data to inflated property values. World Wide’s authority to make FHA loans was terminated by HUD effective June 29, 2004.” September 27, 2004 Appraisal Intelligence www.appraisalintelligence.com



	Feedback We have provided a quick, 3-question survey to be completed. Your feedback is important to us to know how to better serve you. Click here for survey Joke of the Month “Top ten reasons to tell if you were caught sleeping on the job” 10. They told me at the blood bank that this might happen. 9. This is just a 15 minute power-nap like they raved about in that time management course you sent me to. 8. Whew! Guess I left the top off the White-Out. You probably got here just in time. 7. I wasn’t sleeping! I was meditating on the mission statement and envisioning a new paradigm! 6. I was testing my keyboard for drool resistance. 5. I was doing a highly specific Yoga exercise to relieve work related stress. Are you discriminatory toward people who practice Yoga? 4. Why did you interrupt me? I had almost figured out a solution to our biggest problem! 3. The coffee machine is broken 2. Someone must have put the decaf in the wrong pot. 1. Amen www.aplusjokes.com	Metro-West & World Appraisal *We invite you to stop by and meet our staff!* Please come by our office, meet the employees and see how our operation works! Metro-West & World Appraisal 27555 Executive Drive Suite 180 &185 Farmington Hills, MI 48331 For information or questions please email us at: marketing@metrowestappr.com Click here to view directions Visit us today at: www.metrowestappr.com Visit our sister company World Appraisal at: www.worldappraisal.com Quote of the Month “The secret of joy in work is contained in one word – Excellence. To know how to do something well is to enjoy it.” -- Pearl S. Buck

	Appraisers Funny Stories How about a time warp story Awhile ago, I received an order, and there are always those names you recognize from your childhood, but you never expect them to be whom you thought. I scheduled the appointment and met the woman of the house at the appointment. I started walking through the house, in the den area there were some school emblems from my high school, which really didn't phase me. I went down to the basement and saw some class photos on the wall as I took a closer look I saw myself in a few of the photos. This was a little eerie at first then I realized the woman upstairs was my 3rd grade teacher and her husband was my softball coach from high school. Relieved, I went upstairs and asked her if she taught at my elementary school, she said yes, I told her my maiden name. She said she thought she recognized me when I walked in, but obviously that was looooonnnngggggggg ago. But it is nice to see familiar and friendly faces from the past.
	Need An Appraisal? World Appraisal covers the entire United States! World Appraisal has staff appraisers in: California: Los Angeles and Orange counties Illinois: Cook, DuPage, Grundy, Lake, McHenry, and Will counties Michigan: Arenac, Clinton, Eaton, Gratiot, Hillsdale, Ingham, Iosco, Jackson, and Shiawassee counties. Coming Soon: Arizona, Missouri, Texas, and Utah For more coverage areas and fees please visit us at: www.worldappraisal.com www.metrowestappr.com
	Did You Know? Did you know that you could have 5 appraisals performed at the same time on the same property and have 5 different appraised values! However, if they were all done taking the best and most appropriate comparables that their values should be within a 1-5% range! If you would like more information or to set up an appointment, please contact us at: marketing@metrowestappr.com Suggestions Metro-West & World Appraisal want to thank everyone for their great suggestions! Last months winner Jennifer Benaway from Quicken Loans won a $40.00 Gift Certificate to the restaurant of her choice for her great suggestion! Please email us at: marketing@metrowestappr.com Questions & Answers Please email us at marketing@metrowestappr.com Your questions and our reply will appear in next months issue.	Meet Our Grand Blanc Appraisers

	Metro-West & World Appraisal Holiday Schedule Metro-West & World Appraisal will be closed for the holidays on November 25th & 26th , December 24th & December 31st. Metro-West & World Appraisal will only open from 8am-noon and will be closed the remainder of the day for our annual all company meeting on Friday, December 10th. We apologize in advance for any inconvenience. If you have further questions or concerns please contact us at: marketing@metrowestappr.com
	PRIVACY NOTICE This email communication is sent as a service to our customers. Metro-West and World Appraisal respects internet privacy. If you do not wish to receive future email communications, please unsubscribe by replying to this message with "unsubscribe" in the subject line or click the link at the bottom of this message. Thank you.