Monday, November 12, 2012

Questions For Robbie Perkins And Newbridge Bank

The little bird flew back. This time it had more questions than answers. Questions like:

Did Robbie alert Newbridge of his tax situation prior to the tax lien in 2012?
What was the impact of the tax lien on his loan with Newbridge?
Why did Newbridge assign this loan in June 2012 to a special servicer and were other Newbridge loans assigned to Bayview?
When Robbie "resigned" was the statement from Newbridge truthful? Was Robbie's explanation of his departure truthful?
What has NB disclosed to their shareholders through SEC filings or did they fail to report this?

I must admit, that is one curious little bird. Hard working too.

More questions include:

In 2005, the tax value for Robbie and Carole's home was $584,600 (remember he paid $725,000 for it.) The 2006 tax value, $691,600. In 2007-2011 the tax value was $843,200 and In 2012 it went up to 905,800. The bird tells me that info comes from the Guilford County Tax Department. (Also here) Now bird and I understand that loan values are usually higher than tax values but Mayor Robbie Perkins borrowed $1.2 Million on the house and $285,000 on the empty lot next door. Are loan values that much higher than tax values?

Keep in mind: In 2005 the average listing time on a house in Irving Park was said to be 24 hours. People put their names on waiting lists to get into Irving Park. Today, Irving Park is literally littered with foreclosures and under water mortgages. Bird and I seriously doubt the Mayor's house was EVER worth 1.2 Million even though I encourage his wife Carole to keep holding out for 1.2 Million for as long as she can. After all, in a short sell, Robbie and his girl friend will probably end up living in the house. That is, until his girlfriend figures out what a scumbag he is and takes him to the cleaners.

Are you aware that Robbie Perkins used a forced takeover to take control of the commercial real estate business he runs and kick its founder, who was at that time his father-in-law, out of the business? Perhaps someone would like to ask the Maxwells?

Are you aware that Robbie Perkins borrowed a huge sum of money from his second wife's father then refused to pay it back. Mr Dabbs sued Robbie but because their agreement was verbal with no written contract the judge failed to force Robme to pay back the "loan." Perhaps someone would like to consult the Dabbs.

And after you read Ed Cone Lies By Omission I know you're going to want to report all of this to the Residential Mortgage Backed Securities Fraud Working Group of the US Securities and Exchange Commission. Remember: The more who report it the faster Washington moves.