Jew Corrupter: Howard Milstein Banker

[CrackSmokeRepublican]

This bank is deep with J-run Brinker International as well...  Jew Scams apparently abound non-stop... just another case of the American "Goyim" bailing out the Jew Corrupting Talmudics...via the Jew Fed...   :x

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Tuesday, February 23, 2010
Why is Emigrant Bank Still in Business? (Because they are J-Tribe connected...of course -- CSR)



Looking for a story about government malfeasance, greed, lack of banking control and the shafting of the American taxpayer, meet    Howard Milstein , billionaire and TARP recipient:

Bank deposits are really loans from the public to a bank.

Assets are the loans that the bank makes to the public.

From the late 2006-2007 and through today, Emigrant Bank has raised billions of dollars on the Internet, all of it insured by you know who, the FDIC, through a program called Emigrant Direct Through this program Emigrant bank borrowed billions of dollars from the American public.

Emigrant is a private bank owned by a billionaire family of real estate speculators.  

With all those billions Emigrant still found it necessary to take $269 million from the TARP even though it's owners have an estimated wealth in excess of $3 billion. To date Emigrant has not repaid them yet the FDIC is still allowing Emigrant to take in more and more deposits. All of these deposits are FDIC insured.

Emigrant took the money and used it in its various subsidiaries including Emigrant Realty Finance, LLC and amongst other things speculated on California commercial real estate through its different affiliates. Emigrant made risky commercial loans and continuous legal loan sharking. Several mortgage brokers openly refer to Emigrant Bank as a predatory lender. Scroll down through this thread. Emigrant pays depositors 1.1%, then loans it out at 9% on mortgages to consumers with weak credit. According to the referenced thread, the loans typically have a default rate of 18%.

With that how could Emigrant be losing money?

Most banks, when they have troubled loans, do there best to sell the bad assets and convert them to cash. Banks enjoy tremendous leverage in their operations, as high as 20:1. That means $1 million in cash capital can support up to $20 million in loans. Great when the $20 million is generating 9% or 18% interest.

But what happens when the loans go bad?

A million dollar bad loan means the bank needs to reduce its lending by its leverage. 20:1 leverage means reducing loans by $20 million, increasing reserves or injecting new capital. That is standard enforcement procedure practiced by bank examiners. That is not what is being done by Emigrant Bank.

Emigrant Bank, owned by real estate speculators, believes that their foreclosed properties will go up in value.

How do we know that? Howard Milstein is also part owner of the New York Times and wrote an oped piece in the New York Times on his philosophy of what the government should do about mortgages and banks.

Emigrant transfers bad assets to an affiliated company called RETAINED REALTY INC, 5 E 42ND ST, NEW YORK, New York , the same address as Emigrant Bank They can get away with this because the FDIC is not doing their job. The FDIC and TARP enables Emigrant to risk tax payer money on real estate speculation and running a very bad bank.

The financial statements of Emigrant Bank scream for it to be taken over. Emigrant has taken $269 million in government funds. Why was Emigrant given this money? Bad loans of course, mostly residential and gobs and gobs of commercial real estate.

What is Emigrant Bank doing to improve its financial situation and bad loans?

How many mortgages do you think have been modified by Emigrant?

None, not one.

Emigrant has an affiliated company called Retained Realty that takes over the foreclosed properties and uses TARP money and FDIC insured deposits so that a related company can inventory distressed real estate, betting on the future value. If real estate value goes up, Emigrant and the Milsteins win. If it goes down the US taxpayers lose.

Where is the FDIC? MIA.
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Largest privately held bank in the U.S. still hasn't paid back Uncle Sam's TARP loan

Every major financial institution in New York has settled its debt with the Treasury -- except Emigrant Savings Bank.

Investment news

By Aaron Elstein
February 22, 2010, 8:13 AM EST


    A year after taxpayers bailed out the nation's financial system, every major bank in New York has settled its debt with Uncle Sam except one: Emigrant Savings Bank.
    The 160-year-old institution, the nation's largest bank in private hands, has yet to repay its $267 million in rescue money. The unprofitable bank is so riddled with dud loans and poor investments, it might need another infusion of bailout cash unless the Milsteins, the real estate family that has owned the bank since 1986, inject millions more into the enterprise.

    Data filed with the Federal Reserve Board by Emigrant's parent, New York Private Bank & Trust Corp., spell out the difficulties at the institution, which has $16 billion in assets. Delinquent loans and other nonperforming assets tripled, to $1 billion, over the 12 months that ended last Sept. 30. As a percentage of loans, they are three times higher than at comparable banks. Despite the elevated number of troubled loans, the bank's loan-loss reserves and capital levels are substantially lower than peers'. Emigrant posted a $229 million net loss through the first nine months of 2009; early last year, the bank told Crain's its distressed loans would not result in losses unless real estate values declined another 40%.

    Perhaps most alarming, the bank flunks a crucial measure of financial health: Its capital is exceeded by its nonperforming assets and loan-loss reserves. This measurement is known as the "Texas ratio," and a reading above 100% indicates that a bank is in danger of failing. IndyMac Bancorp, for example, had a Texas ratio of 140% before it collapsed in 2008. The Texas ratio at Emigrant's parent is 113%.

    "It means your sandbags to protect against the flood are getting deluged," says Gerard Cassidy, a banking analyst at RBC Capital Markets.

    Mr. Cassidy finds it startling that Emigrant is in such a situation. The bank has more than $11 billion in customer deposits at 34 branches in the city and suburbs and through an online operation. The Milsteins built their fortune—estimated by Forbes to be $3.8 billion—on savvy real estate investing, and Chief Executive Howard Milstein has in years past deftly steered the bank clear of the mortgage problems that sank rivals.

    "Emigrant has never shown a Texas ratio anything close to what it is today," Mr. Cassidy says.

    Mr. Milstein was traveling and unavailable for comment, according to a spokesman. In response to e-mailed questions, the spokesman writes that operating results remain "strong," and he attributes the bank's reported losses to accounting rules.

    "Many of the accounting losses on Emigrant's financial statements are not the result of actual losses but are required to be reflected," he emphasizes. "Emigrant expects that asset values for a significant portion of these assets will improve."

    The bank, the spokesman adds, has "very substantial reserves for potential actual loan losses and believes they far exceed what will actually be experienced."

    Like many big banks, Emigrant has been tripped up by souring residential mortgages, bad business loans and subpar private equity investments. But Emigrant, with roots as a savings and loan writing home mortgages, seems to have made the classic mistake of joining the party just as the punchbowl was running dry.

    The institution's commercial and industrial loan portfolio jumped by 60% in 2007, to nearly $1 billion. Mr. Cassidy wonders if Emigrant started buying more loans originated by other banks. Whatever the case, the recession soon hit, and the bank now isn't collecting interest payments on fully one-third of C&I loans.

    Emigrant seems to have upped its bet on the Milstein family favorite—real estate—at the wrong time. Fully 60% of its investment portfolio is in mortgage-backed securities, triple the level in 2006. It isn't clear if these securities contain government-guaranteed mortgages, but analysts say even if they do, they've probably lost value.

    Its $150 million private equity arm, Emigrant Capital Corp., is also suffering from unfortunate timing, with four investments in 2006 as the M&A whirl hit overdrive. Two companies, representing 20% of the division's investment portfolio, filed for bankruptcy last year: Forward Foods, the maker of Detour protein bars, and Jolt Cola, the super-caffeinated soft drink. Jolt's founder has since sued Emigrant for allegedly driving his company into the ground and seeks $31 million in damages. Emigrant wouldn't comment.

    All of this has left Emigrant with a thin capital base, even with the bailout millions. Using a strict definition of capital that analysts often turn to in hard times, Emigrant's tangible capital ratio is only 2.6%, compared with 5.5% for its peers. (Emigrant prefers to cite another form of capital, known as Tier 1; under this definition, the spokesman says, the bank's capital ratio is more than 12.5%, about twice the regulatory requirement.)

    "They need as much capital as they can get their hands on," says Fitch Ratings analyst Eric Newell, who last summer cut the bank's credit ratings from investment grade to junk. His outlook is "negative."

    As the bank's fortunes have declined, the Milsteins have stepped in to shore up its coffers. In 2008, they injected $110 million into Emigrant, and in 2007 they put in $60 million, according to Fitch.

    Might family members dig into their pockets again to help their bank? Mr. Newell says Fitch can't count on such a scenario.

    "Our ratings don't take their support into account," he explains, "because we don't have the ability to assess their desire to provide it in the future."



[This story first appeared in Crain's New York Business, a sister publication of InvestmentNews.]


http://2164th.blogspot.com/2010/02/why- ... iness.html


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Emigrant Mortgage


About Emigrant Mortgage

They are owned by Emigrant Savings Bank out of NY.
Emigrant Mortgage's Parent Company is: Emigrant Savings Bank
Blog Entries about Emigrant Mortgage

    I have stopped the Sherrif's Sale 4 times, they are after my equity
    My mother got sick and later died, that put me behind and am facing foreclosure

Checked Better Business Bureau: Yes

Better Business Bureau Issues

See parent company profile for report

Reader Comments & Ratings

Average Rating: starhalf starno starno starno star (1.4/5)

starno starno starno starno star by Charles From Philadelphia, PA on April 26, 2011

Robert Gladitsch states he finds good old Howard Milstein to be a fine fellow. Mr Gladitsch works for a company of mortgage brokers that does a lot of business with Emigrant Bank. Phone: 516-224-5764, Fax: 516-224-5765 nhchopperbob@aol.com deregulation has worked well. I just don't know how they can live with themselves.

starno starno starno starno star by Anonymous From Fairfax, VA on January 30, 2011

I have a friend who is having similar problems. Fell behind 3 payment a few years ago which triggered the 18.5% Default Interest Rate Riser. They have made the normal payments but cannot catch up with the additional 14%. They have now fallen $50K behind and are being forced into foreclosure. As everyone has pointed out, this seems like a way for Emigrant to harvest the equity of good people. It is a shame this is legal in the US.

starstarstarstarstar by William From Montclair, NJ on January 21, 2011

I have started a law suit against them, I am a lawyer and I agree with all these comments in this we cite

starno starno starno starno star by Anonymous From Ocean Gate, NJ on December 12, 2010

I feel the same as most of these people. They are ruthless scammers that must be stopped.

starno starno starno starno star by Anonymous From Palisades Park, NJ on December 09, 2010

I am an attorney and I am thinking of filing a suit against Emigrant on behalf of my client. Does anyone have any viable information against this bank

starno starno starno starno star by Frank From Howell, NJ on November 23, 2010

Horrible to deal with,predatory,worst decision of my life to refinance with them in 06. Get behind they won't let you catchup,send checks back. Stay away from them. Count me in on class action suit

starno starno starno starno star by Barbara From Glen Cove, NY on November 06, 2010

Emigrant mortgage co are thieves!! I have a case against them right now,my attorney says it might take years but I do not care if it takes the rest of my life I will not let them steal my house from me after 32 years!!

starno starno starno starno star by scott From Sarasota, FL on October 03, 2010

Has anyone had an attorney review their loan agreement for Truth in Lending violations, predatory lending violations, loan sharking violations?

starstarno starno starno star by Anonymous From Coatesville, PA on September 10, 2010

Foreclosed after 4 missed payments. got home back after paying 2 grand to their lawyer and late fees. I was lucky. Tell me where to call for class action suit. I am not afraid of Mr. Millstein or whatever the owner of the NY times. Newspapers are dying anyway because of Internet. Last laugh on you

starno starno starno starno star by Anonymous From Western Springs, IL on August 31, 2010

i doubt they care. we going through foreclosure with them. all we ask is to drop in rate of 11.75

starno starno starno starno star by Anonymous From Staten Island, NY on August 25, 2010

Emigrant Mortgage Co. is without a doubt a predatory mortgage company. They were difficult, rude, unhelpful, and unwilling to negotiate with me.

starstarstarstarstar by Kerry From Staten Island, NY on August 25, 2010

I am in the same situation with Emigrant. They are monsters and I would definitely want to be involved in a lawsuit. Please email me at: suit...ktoff@innovanj.net

starno starno starno starno star by Steve From Philadelphia, PA on July 27, 2010

You will never win with this bank. If you owe them money, you are dead man walking.

starno starno starno starno star by April Lee From Washingtonville, NY on July 15, 2010

I have submitted a proposal to Emigrant through a HUD certified counseling agency, asking for a restructure of my loan, what I am reading here worries me a lot as I haven't received an answer from Emigrant. If there is a class action lawsuit to be filed, please include me in it. My email is scottincr@yahoo.com

starno starno starno starno star by Anonymous From Boynton Beach, FL on May 13, 2010

Thieves! and very untruthful people, hope they will go bankrupt some day!

starno starno starno starno star by Anonymous From Flushing, NY on March 27, 2010

THIEVES!!!! ANYONE HAS CALLED THE PRESS, AND NOT THE NEW YORK TIMES OF COURSE. MAYBE ITS TIME THAT WE CALL IN THE FEDS, US ATTORNEY GENERAL NOT NYS ATTORNEY GENERAL; AS EMIGRANT MAY BE MAKING CAMPAIGN CONTRIBUTIONS LIKE IN THE CASE OF CONGRESS REP MENENDEZ

starstarstarno starno star by Chuck E From Long Island City, NY on March 17, 2010

foreclosed on all you good people who made your payments on time? wow.. you took loans repaid as agreed and they foreclosed or charged late fees?

starno starno starno starno star by Anonymous From Danville, NH on March 14, 2010

They have crushed me and my dreams. Stolen my home and my large equity my children's inheritance. Set me up, i was a trusting woman. Now our government is allowing men in suits to steal from the poor,oppressed,and desperate to keep there home. they stole it after living there for 15 years. great shame shall befall the people involved as well as the brokers. they broke my family up for I had to move 4 hours away. At my age I am not going to be able to ever recapture what they have stolen from this single mom,who was unable physically to move her belongings or store them all. I am very weak but together maybe we could be strong e mail me at Fairview418@yahoo.com From Lanoka Harbor, NJ on March 07, 2010

WHY ISN'T ANDREW CUOMO NEW YORK ATTORNEY GENERAL INVESTIGATING EMIGRANT? CUOMO WANTS TO RUN FOR GOVERNOR. MAYBE HE DOESN'T WANT TO Investigate EMIGRANT BECAUSE HOWARD MILSTEIN IS OWNER OF EMIGRANT AND PART OWNER OF NY TIMES. DOES HE NEED NY TIMES ENDORSEMENT OR MILSTEIN'S CAMPAIGN CONTRIBUTION?

starstarstarstarno star by lisa From Franklin Square, NY on February 18, 2010

they are horrible dealing back and forth 2 years i will do the suit email me pbisciotti@gmail.com

starno starno starno starno star by Anonymous From Syosset, NY on November 30, 2009

They charge a 16% late fee or 89.00 for being 30 days late. They will never give you a chance to catch up. They are looking to foreclose on people's homes.

starno starno starno starno star by Julia From Brooklyn, NY on November 20, 2009

Once you agree to a default rate at 18% or 24% with Emigrant you are cooked and at their mercy. They can declare a defualt for a myriad of reasons and not just for an installment default. If enough people did not agree to their default interest rates they would cease that practice. Apparently, they are still in business with that.

starno starno starno starno star by Tom From Palm Coast, FL on November 20, 2009

Thieves specializing in preplanned foreclosures to make money at default interest at 18% or 24%, and equity during foreclosures.

starno starno starno starno star by M Shu From New York, NJ on November 19, 2009

This is by far the worst, thieving, lying, and corrupt mortgage bank I have ever dealt with. Their customer representatives are the most discourteous, foul-mouthed people "servicing" the Bank's customers. What a joke. Their policy of raising their interest rates on late loan payments to 18% and offers to modify past due payments so instead of monthly payments of $5,000, you need to pay $8500 to catch up? Are you kidding me? Terrible people, under handed business practices, immoral and unethical as they come. I have not read ONE positive comment here on this blog. Is that telling us something about Emigrant Mortgage?

starno starno starno starno star by Anonymous From Northwood, NH on November 18, 2009

We fell behind on mortgage payments but were still sending a monthly payment then they decided to return our payment. We called and were giving the amount we needed to prevent foreclosure, we took money from our 401k to get caught up and they still sent our check back. They wont return any phone calls & there attorney wont either. Still not sure who to call or what to do

starno starno starno starno star by Anonymous From Point Pleasant Beach, NJ on October 22, 2009

starno starno starno starno star by Anonymous From Closter, NJ on October 16, 2009

this bank is not willing to modify if your home has equity, they just want to foreclose and sell the property. we have to stop this bank from running all over the helpless homeowners.

starno starno starno starno star by Anonymous From Waterford Works, NJ on October 15, 2009

ok first of all these ignorant *ss people don't care about anyone. All that matters is the employees get paid for being really rude. oh man .. where should I start.. Ok well my father has been dealing with this mess of a company for quite some years now. How ever he has fallen behind on his payments ( I mean who hasn't), we all seem to be struggling but them. So in doing so he attempted to make payment and do you believe they sent it back. it was like all or nothing. So crooked they wouldn't even except anything, unless it was the full amount. There was no working deals with these people. Until they called one day acting very ignorant and I put them in there place that the person got so upset, that they hung up eventually. Now this time around, with the economy being so bad for us struggling beings, they harassed us for a while, due to falling in arrears again. So I applied for a loan modification through an Obama program, and my father has been approved. Surprisingly Emigrant crooks moron company accepted the modification. To sum things up it makes a person want to destroy their house and turn it into the insurance company, that's how pissed off this rejects of a company makes people. All I did was read up on law books and found out allot of info. There is so much fine print with this emigrant nonsense. DON'T DEAL WITH THIS COMPANY UNLESS YOU WANT TO GET RIPPED OFF.. FOR YOUR HARD EARNED MONEY.

starno starno starno starno star by Anonymous From Greenbelt, MD on October 06, 2009

We all need to stop the writing and get with lawyers that they might be able to help with our homes these days. I am going to see about getting someone from the White House included in.

starno starno starno starno star by sleepless in Fl From Kissimmee, FL on October 02, 2009

These people are pigs and I am gonna get the news media on their backs

starno starno starno starno star by Maryland From Glen Burnie, MD on September 21, 2009

Lost my job got behind they said all they could do was let me pay an additional $800 a month. Couldn't pay original amount how was I to come up with another $800. I tried to get a modification called Project Hope they said Emigrant Mortgage was the only company that wouldn't work with them. I was contacted by their attorney faxed 36 pages of information as requested asked for a response. They responded ok they put the house up for auction and purchased it back themselves. House worth at least 245,000 owed only 152,000 they purchased it for 175,000 They said the difference between the 152,000 and 175,000 would pay for the lawyers and other fee's I guess they will now put it on the market and sell it to get my equity. What trash they are and this is how the tarp money is working it's paying off the crooks. We had better watch our backs if this is how TARP works just think what OBAMA CARE is going to do for us.

starno starno starno starno star by kaross4559 From Kissimmee, FL on September 07, 2009

Emigrant mortgage auctioned off my house in February. They auctioned it off to a company in New York called Retained Realty, which is located one street over from Emigrant mortgage. I had a lawyer look at my paperwork and he said I never stood a chance of keeping my house and suggested I get in on a class action suit if any are out there. My mortgage was for 123,000 they auctioned off my home for 167,000. To date I have not gotten an accounting of what was done with money from the sale.

starno starno starno starno star by Modesto R. Gonzalez From Boynton Beach, FL on September 04, 2009

Emigrant Mortgage are thieves, I got $375K and pay them for 3 years. Fortunately I got a new bank who helped me. I paid them $400. I have never done a crazy business like this THIEVES!!!!!!!

starno starno starno starno star by melissa From Bridgeport, CT on September 02, 2009

Anyone interested in help with dealing with this please email at fairview418@yahoo.com

starno starno starno starno star by hank diehl From Melville, NY on July 16, 2009

more of the same... Refuse to deal with me for a modification. Their idea of that is to triple my mortgage payment for three years. If I had a hard time at the original amount what makes them think I can afford to triple my payment. Contacted both Senator and congressmen for my area with no success. If anyone has started a class action suit I would be more than happy to join in. Have no clue why they(emigrant) can get away with their practices.

starno starno starno starno star by Greg From Brooklyn, NY on June 19, 2009

Emigrant makes money on pre-planned foreclosures. The interest rates kick in at 18% on residential, and 24% on residential rental properties (commercial). They get back their loan principal sooner and reinvest into other loans that are likely to default. Stay away from them if you do no want to ruin your family. There are many bansk out there to do business with.

starno starno starno starno star by Anonymous From Bryn Mawr, PA on June 11, 2009

Emigrant is a privately wholly owned subsidiary of New York Private Bank & Trust Corporation. On 1/9/2009 it sought and received $267,274,000 from the US Treasury under TARP. There are about 8500 banks in the United States. As of January 31, 2009, there were 558 banks in the TARP program. That means 6.5% of US banks have been given special consideration and received public funds. Of that group of 6.5%, few are private banks. Emigrant Bank is hardly some critical part of the US banking system but has taken advantage of a federal handout of $267,274,000. In doing so Emigrant has new obligations. Bankrate.com reported as of 30 September 2009 in their INSTITUTION SUMMARY that Emigrant Bank has been rated significantly below average in earnings, asset quality and capitalization. Newspapers reported that financial analysts said Emigrant was struggling and sought and received government cash bail out money. Emigrant is in TARP because they ran into business difficulties. We want to negotiate, they won't. Our mortgage contract has an attachment clause which permitted them to double our mortgage payment to 18% on the entire balance, not just the amount in arrears. For most of the long history of Pennsylvania, such a clause, for such an amount, would have been illegal. A major source of our problem was that Emigrant refused to accept a partial payment after ninety days in arrears. That in itself was a problem. Emigrant made it worse. They demanded an additional payment of another 9%, which was computed on the entire outstanding balance. Stated another way, we had difficulty in coming up with three payments to catch up, and the bank's solution was to double down and demand six payments. A broker who was familiar with them told me that they wished to maintain their reputation as a "hard-ass" bank. I assume that may be one of the reasons that they ended up in the TARP. We attempted on numerous occasions to negotiate a settlement with the bank with no luck. My wife had to file bankruptcy and at the time, I was able to secure commitments on two separate mortgages, both in excess of one million dollars. The bank refused both offers. Emigrant went so far as to advertise the sale of our house in US Marshall sale for an amount less than they would accept from us in cash. The mortgage was approximately $750,000 but the compounding of the 18%, (nine percent plus the penalty of an additional 9%) kept exceeding the amount a new lender was willing to extend. At every stage Emigrant has been unwilling to accept modifications or any type of reasonable and fair settlement and did so even after it sought and received $267,274,000 from the US Treasury. At the end of the bankruptcy proceeding Emigrant refused an offer of an amount it claimed in bankruptcy court filings. We are suing them in federal court. The bank has consistently refused to supply documentation to our lawyer showing how they arrived at the amount they are claiming. They do not answer his emails and phone calls. My wife had to re-file bankruptcy in order to stay the sale. Emigrant demanded and received a hearing to remove the stay. In court, Emigrant argued that we owed them more money than the appraised value of the home. They failed to mention the usurious 18% interest and how that depleted our equity. Emigrant did not disclose to the court, that they were recipients of $267,274,000 under TARP, a primary goal of which was to assure, not just the financial stability of banks such as Emigrant, but the continued homeownership of borrowers on reasonable terms. Prior to that hearing the bankruptcy judge ordered us to a reconciliation meeting. Emigrant, hard ass to the end, refused to do anything, and they did this with full knowledge and no disclosure of their moral and legal obligations under TARP. Emigrant would have to negotiate if they weere not in TARP because they were in serious trouble. They will steal anyone's and everyone's equity to build a war chest to get out of TARP. TARP made it worse for us and others. You will not beat Emigrant going alone. They are masters at what they do. Get together.

starno starno starno starno star by Mike From Bryn Mawr, PA on June 10, 2009

The bottom of the barrel. We were late, went to 90 days and they raised our mortgage to 18%. been fighting them ever since.

starstarstarstarstar by james From Queens Village, NY on April 24, 2009

There is a serious issue regarding the way Emigrant mortgage co is conducting business. The have been under the political radar, its time for this institution to be fully exposed. These company's are receiving vast sums of tax payer money - by way of TARP, etc..., and yet still refuse to help the common home owner. Some thing needs to be done, say what you may or think, but at the end of the day, Emigrant is looking out for Emigrant, the are just as bad as these credit card company's, which is another issue for later discussion. We as the people need to work together we need to get the politicians involved do you agree. We want Emigrant to do the right thing and stop being so greedy to the point that its policies and the way they do business is disgusting and shameful!!!!, lets pull our resources together. berk7775@aol.com ready to start class action suit with all of the above. Have atty in place.

starno starno starno starno star by Class action suit From New Hyde Park, NY on January 24, 2009

email me @ berk7775@aol.com ready to start class action suit with all of the above. Have atty in place.

starno starno starno starno star by Anonymous From Katonah, NY on December 31, 2008

starno starno starno starno star by liz From Toms River, NJ on December 20, 2008

very rude and sneaky. delivered forclosure lawsuit without warning days before christmas. What a bunch of sweethearts

starno starno starno starno star by liz From Toms River, NJ on December 20, 2008

very rude and sneaky. delivered forclosure lawsuit without warning days before christmas. What a bunch of sweethearts

starno starno starno starno star by Anonymous From East Meadow, NY on December 05, 2008

Lies, games, unethical behavior. Horrible to deal with. In my opinion, based on my experience with them - NEVER DEAL WITH THEM!!!

starno starno starno starno star by anonymous From Fairview, NJ on December 02, 2008

Check their web site. They promote foreclosure bail-outs..STILL The MOB would be investigated today. It's owner and ceo received a man of the year award from Cornell. He owns part of NY Times. Wrote editorial about banks should help homeowners??? what a phoney. His name is Howard Milstein

starno starno starno starno star by bobbi mathis From Brooklyn, NY on December 01, 2008

starstarstarno starno star by Patricia Costanzo From Freehold, NJ on November 12, 2008

starno starno starno starno star by Anonymous From Secaucus, NJ on October 29, 2008

starno starno starno starno star by Anonymous From Barrington, IL on September 23, 2008

Second time they are after OUR equity! Didn't work for them first time around, won't work this time. Our pmt went from 5700. to 10,300./mo they are trying to crush us. We have an ARM so it adj about $1000. then they added our taxes in. We have paid our taxes on our own for 25 yrs! 1st time around they sent their own invertor to buy our home. They say they don't want our home. OK, but they do want our years of EQUITY. They are criminals! They are sick!Good Luck to anyone that does business with these horrible people.

starno starno starno starno star by yankeesmith From Northport, NY on September 22, 2008

started foreclosure after 45 days late.Encouraged me to walk away from home leaving $125k equity for them.Besides paying back 2 mos. mortgage, penalty was same as mortgage payments, making it cost double the mortgage payment for a total of three months due at one time. So $6k due in three months mort. became $12K due before the three months was even up. Can this possible be legal.

starno starno starno starno star by anonymous From Pennington, NJ on September 19, 2008

Foreclosed on me while I had written agreement. Charged me three times for the same period for home owners insurance while I had policy in force. Has anyone dealt with their attorney Epstein? Went to NYC to talk with them through me out and called security. Looking for people that would file suit together against them. Also talk to attorney general office. Check your mortgage papers and check your signatures. Some of mine were forged.

starstarstarstarno star by anonymus From Forked River, NJ on September 19, 2008

Did the same thing to me. House was going up for sheriff sale. Went to court as pro se, granted stay for two weeks, their attorney was ordered to get back to me with correct figures never did went on vacation. Looking for people with problems with Emigrant for class action suit. Mortgage papers were forged. Went to see lawyers, didn't believe me

starstarno starno starno star by Anonymous From Slatington, PA on August 01, 2008

starno starno starno starno star by Anonymous From Roosevelt, NJ on June 11, 2008

No notice, rude incommunicative staff, started foreclosure without notice after 10 years as mortgage lender. Deserve to lose on their foreclosure process, and impersonal methods of doin business.

starno starno starno starno star by John & Tina DeFrank From Gloucester City, NJ on March 18, 2008

Foreclosed our house without notifying us of anything. We lived in our home for 18 months. After 3 missed payments, foreclosure is started. They tried saying we never made one payment. They took it directly from our bank account each month then denied even doing it. How can someone live in a house for all of those months without paying anything?? RIP OFFS!! Never deal with this company...

starno starno starno starno star by Anonymous From East Meadow, NY on February 28, 2008

http://www.afscanhelp.com/companies/mor ... rtgage.cfm