Complaint Review: Fairbanks Capital - Salt Lake City Utah

The Community Law Center is acting as a clearinghouse for complaints against Fairbanks and others: http://www.communitylaw.org/clearinghouse_process.htm There are detailed, step-by-step instructions on what to do and how to do it. The tracking information will: Provide homeowners and consumer advocates with a sound basis to support requests for state investigations. Ensure that state and federal regulatory and law enforcement agencies aggressively pursue their current investigations. Provide the impetus for hearings on a national level to address the issues raised in the complaints. The Law Center will track the volume of filed complaints by state. Personal information contained in complaints received by the Law Center is confidential and will not be released without your consent.

The Honorable Barbara A. Mikulski Suite 709 Hart Senate Office Building Washington, D.C. 20510 (202) 224-4654 http://mikulski.senate.gov/mailform.html U.S. Department of Justice 950 Pennsylvania Avenue, NW Washington, DC 20530-0001 [email protected]. Mike, please use these. I don't want you to lose your home of so many years! This may be your best hope for an advocate yet! All Fairbanks victims need to start emailing like crazy! Bury Fairbanks!

Mike, Please read to the end of this really long report, I have a suggestion for you. I looked up your report: http://www.ripoffreport.com/view.asp?id=38417 for anyone who wants to see Mike's whole story. (I hope that is the right link.)This industry is breaking the back of America, the hearts of its people, and the spirit of the entire country. It is savage and uncaring. And it is going to get worse, it seems: READ ON! This next information comes from "Inside B & C Lending" Volume8 Issue12, dated 06/09/2003: "DESPITE SETTLEMENT TALKS, FITCH DOWNGRADES FAIRBANKS AGAIN. Is Fairbanks Capital Corp. close to a settlement with federal regulators probing its business practices? The company is remaining tight-lipped about reports of ongoing negotiations with the Federal Trade Commission and the Department of Housing and Urban Development that would reportedly allow Fairbanks to avoid litigation and put to bed charges of predatory servicing. But a source close to the situation said Fairbanks has told investors and rating agency officials that a settlement could come soon. " (I was, unfortunately, unable to access the entire document; evidently one must have the "secret code" or be a "member of the inner circle" to read the entire thing.) This sure sounds like the FTC and HUD is going to sell out every one of you for a settlement which will, of course, be swallowed up by these agencies. Fairbanks has also managed to secure financing through its banking group (led by Chase; why am I not surprised?) which will allow Fairbanks to continue its evil ways for another indefinite length of time. The rug got pulled out from under you guys when your lead advocates got absorbed into the Fairbanks' structure. They are having to "play nice" now; the former "servicingnews" site is no help as it has been turned into a Fairbanks advertisement! I am still waiting for one single person to do a followup and say "Yes, it is getting better since all these promises have been made"...Any takers on that one? I am still searching for the money in this scam. It is extremely hard to follow it. It is like a sack of very active poisonous snakes. One has to get brave enough to reach into it and unravel it to find out where one snake ends and another begins! The coverup is now in full swing and all this shuffling of CEOs is designed to make borrowers think that it will get better. Here's an excerpt from another article: "SALT LAKE CITY, May 8 /PRNewswire/ -- The Board of Directors of Fairbanks Capital Holding Corporation (Fairbanks) today named Brad Shuster as Chairman and James Ozanne as Chief Executive Officer of the Company and its operating subsidiaries. Tom Basmajian, former Fairbanks Chairman and CEO, will assist Fairbanks with its constituent relations, working directly with Mr. Ozanne"......."The restructuring of the executive management team marks a new era for Fairbanks. We have an extremely talented group of executives and employees with whom I am proud to be associated. My top priorities are to augment the compliance and control functions within the Company and make certain that our investors are fully informed," said Mr. Ozanne. "I wish to recognize Tom Basmajian for his efforts in growing Fairbanks to its present position and his commitment to assist the Company in its constituent relations." (This article, oddly enough, was found at "FinanzNachrichten". It is obviously not an English site, but I am not able to clarify any further. I have no idea what language this is. German, maybe? Perhaps Americans are not supposed to know of Fairbanks duplicity?) Its smoke-and mirrors, folks; its the same ol' crooks in the driver's seat! I was shocked when I found this out. Basmajian is still at Fairbanks, still in a position of control, and evidently very much appreciated! But, before everyone goes for the Prozac bottle, all may not be lost quite yet: "DOJ ASKED TO HELP WITH FAIRBANKS A veteran lawmaker has asked the Department of Justice to assist a Department of Housing and Urban Development probe of Fairbanks Capital Corp. The request came in a June 12 letter from Sen. Barbara Mikulski, D-MD, to Attorney General John Ashcroft. I believe that the Justice Department, working with the HUD Inspector General, can achieve justice for the victims of Fairbanks and root out the fraud that is currently destroying lives and communities, Mikulski said." (This also comes from "Inside B & C Lending" same date and issue as above. Again, not being one of the "good ol' boys", I was unable to access the rest of the document.) I cannot figure out how HUD can be trying to settle with Fairbanks and trying to prosecute Fairbanks at the same time; is this agency schizophrenic? There is a lot going on with Fairbanks and it hangs in the balance RIGHT NOW. Mike, contact Senator Mikulski. Tell her your story as you have told us. She is able to see past the BS and the money and see what an undermining influence Fairbanks is on our country. One by one, these servicing companies have got to go as they are structured to destroy borrowers. Now is the time to be heard and this may be the person who can help you. All Fairbanks borrowers need to contact her. Contact the Department of Justice as well; make a lot of noise. I don't care if you use up all the resources of the Internet; tell the DOJ about this site. Tell them about your own troubles. Lets try to get this issue settled in a manner that is fair for America, NOT crooked CEOs and greedy politicians! Keep writing, keep talking, keep fighting, above all, KEEP PRAYING! Make yourselves heard.