Freedom Mortgage Corporation’s Affiliated Business Disclosure

Stanley C. Middleman is the founder
and Chief Executive Officer
of Freedom Mortgage Corporation

The obvious exploitation of
VA Home loan programs and
gaps in laws has positioned
Freedom Mortgage Corporation
to prey on veterans with rising interest rates
that could push many of the
over 500,000 veterans’ families
that have become entangled with
Freedom Mortgage Corporation’s
unsettling practices
over the past eight years.
This will work to constantly pressure
into foreclosure with
the shocking interest payment increases.

The Mortgage Loan Originators listed
below were able to walk into a job to
complete six months of training to
become a licensed MLO, then pass the test
to obtain their licenses within one month.
They beat the odds in obtaining their licenses
even within three months of being hired,
with minimal or a complete lack of
relevant work experience in the industry,
and passed a test that fails almost 50%
of everyone that takes it the first time.

The dates in RED
received their licenses
THE MONTH after hire with
Freedom Mortgage Corporation.


The dates in yellow
received their licenses
within three months of hire
with Freedom Mortgage Corporation.

Previous experience is listed to confirm.

The overwhelming majority
had no finance industry experience,
only a few with possible
mortgage ‘industry’ experience,
and all of these people passed a test
that normally has a failure rate
of almost 50% on the first attempt.

These were also
the first 50 checked.

The loan data below shows the VA IRRRL (Interest Rate Reduction Refinance loans) that were guaranteed by Freedom mortgage corporation OVER THE LAST SEVEN YEARS

In 2021, Freedom Mortgage Corporation
secured over 23% of the VA IRRRL market
out of 1224 eligible lenders IN the market.

Our analysis of available data
from the VA has
highlighted serious points of concern.
There are apparent
company-wide business initiatives
implemented by this
massive mortgage lender to exploit
programs that are meant to help veterans.

Yes, they are stealing from veterans!

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From the article above:

“MSRs gain value as interest rates rise, in part because upward-bound rates cause mortgage refinancing to slow to a crawl. That reduces mortgage-prepayment speeds — increasing the effective long-term yield of the servicing rights tied to those loans.”

from Area Dispatch:

The value of an MSR portfolio would also increase with
rising interest rates if the portfolio was composed of
many (or any) adjustable-rate mortgages, ESPECIALLY if it
was disproportionately composed of these types of
mortgages. Area Dispatch has been unaBLE TO ESTABLISH
THE FULL EXTENT OF THE fREEDOM mORTGAGE cORPORATION
msr pORTFOLIO AS DISPROPORTIONATELY COMPOSED OF aDJUSTABLE-RATE
MORTGAGES. rEVIEW OF mORTGAGE GUARANTEE iNFORMATION PROVIDED BY
THE va aPPEARS TO EXHIBIT A FOCUSED BUSINESS INITIATIVE
THAT made up nearly an overwhelming majority of THEIR BUSINESS.


The value of an MSR portfolio would also increase
with rising interest rates if the portfolio was
composed of many (or any) adjustable-rate mortgageS,
ESPECIALLY if it was disproportionately composed
of these types of mortgages. Area Dispatch has been unaBLE
TO ESTABLISH THE FULL EXTENT OF THE fREEDOM mORTGAGE cORPORATION
msr pORTFOLIO AS DISPROPORTIONATELY COMPOSED
OF aDJUSTABLE-RATE MORTGAGES. rEVIEW OF mORTGAGE GUARANTEE
iNFORMATION PROVIDED BY THE va aPPEARS TO EXHIBIT A FOCUSED
BUSINESS INITIATIVE THAT COMPRISED ALMOST ALL OF THEIR BUSINESS over
several years the highs and lows were compatible with existing law
for existing va loan customers.

It’s a start😁😁😁

👮‍♀️👮‍♂️🚨🚨🚨🚨🚨🚨👮‍♀️👮‍♂️

> Update <

The Division (of Consumer Affairs) found
that Freedom Mortgage violated the
New Jersey Consumer Fraud Act (“CFA”),
the Advertising Regulations,
and the Telemarketing Do Not Call Law
and related regulations by:

👮‍♀️👮‍♂️🚨🚨🚨🚨🚨🚨👮‍♀️👮‍♂️

• making unsolicited telemarketing sales calls to
  consumers despite not being registered with
  the Division as a telemarketer;
  
• engaging in abusive and deceptive telemarketing practices,
  primarily involving multiple refinancing solicitations;
  
• engaging in “bait-and-switch” sales tactics,
  such as inducing consumers to refinance their loans
  at lower rates only to raise the rates
  after consumers sign the refinancing documents;
  
• failing to timely disburse payments from escrow;
  
• failing to apply consumers’ mortgage loan
  payments in a timely manner, or at all,
  resulting in negative credit reporting for consumers,
  as well as late fees;
  
• failing to timely issue escrow refunds to consumers;
  and failing to respond to consumer inquiries
  with accurate information.

How did America’s
‘Top Residential Lender’
become the
#1 VA Lender
and
#1 FHA Lender?

Speaking of Employees…
As a ‘Sales Support Specialist’
for a mortgage lender,
Tom would assist with ‘upselling’
and potentially defrauding
customers. This is a concerning
concept given the statistical
probability that Freedom Mortgage Corporation
was very likely providing a
VA loan designed to quickly
lower veterans’ monthly
mortgage payments quickly
(IRRRL). As the ‘HRIS
(Human Resources Information Systems)
Director for Freedom Mortgage
Corporation, Sue would be in
a position to obstruct
investigations into possible
criminal actions by employees
or contractors of FMC.

Names To Remember:

Stephen, Erica, Harold,
Tom, Sue, Shelley, Stephany,
Cass, and Christian for the moment.