The IRRRL Exploit

Often called a “streamline” refinance,
an IRRRL may help you to:

  • Lower your monthly mortgage payment
    by getting you a lower interest rate, or
  • Make your monthly payments more stable
    by moving from a loan with an
    adjustable or variable/adjustable interest rate
    to a fixed rate over the life of the loan.

    The fixed interest rate is beneficial in times
    like now with higher than desired inflation,
    and the Federal Reserve adjusting monetary policy
    to manipulate the levers of our economy.
    All this in an effort to smooth out the
    high and low peaks and valleys
    that naturally exist with the economy.
    Cause and effect relationships that drive changes
    in the metrics gauging the performance of the economy,
    and the ways to throttle the metrics with
    things like interest rate increases to curb inflation.
    This increase counters inflation by causing money
    to be more difficult to obtain
    based on the cost benefit of credit loans.
    • In reality, we may see an increase with income tax revenues due to the cost benefit of loans being nullified by higher interest rates than what the wealthy would pay in taxes. Of course, interest rates must reach much higher than current levels for this to happen. Near-zero interest rates are widely exploited by the uber wealthy because interest rates run well below any effective tax rates. By taking a ‘loan’ they are not showing taxable income, so the funds
      received with the loan only experience that near-zero ‘tax’ rate that low interest rates provide. This is one method of the
      extremely rich to limit their tax liability to nearly nothing.
    • The limiting of their tax liability to almost zero, greatly impacts tax revenues going to US and state governments, while these
      wealthy cheapskates benefit off of what is primarily stood up by the middle class.

      • It’s like the finance industry
        was conceptualized
        by the antebellum ‘Planters’
        as the redevelopment of slavery
        in compliance with the 13th Amendment.
        Do you think it was intentional?



        Reading the FALSE propaganda
        written by William Alexander Smith
        tells us that it has been.

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

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Are the walls closing in?

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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.

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UPDATE

  • 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.

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