Is there anything that's Nouvelle to you? Has anyone looked behind the Red Door yet?If our friends in the MDPD Mortgage Fraud Task Force or the State Attorneys Office were paying any attention then this should have been a no brainer. The "Red Door" refers to the name of the title company that conducted transactions for the homes located at 3146 Hibiscus Street and 107 Frow Avenue , both of which were sold the same day the seller purchased them. In the case of these two homes the title company that conducted the transactions is named "Red Door Title Insurance Agency".
What about "Nouvelle"? Again, go back to the two homes that we discussed at 3309 William Avenue and 3773 Frow Avenue, the title company that closed these two transactions is named Nouvelle Title Services Inc. What's so Nouvelle about these two transactions? Not only were the homes purchased within 24 hours of them being resold, but guess what? THE SELLER IN BOTH OF THESE HOMES WAS ALSO A PRINCIPAL IN THE TITLE COMPANY THAT DID THE CLOSINGS! DAMN! Take into consideration what may have gone on in these four transactions then go over and review what the Barrera case, strange huh?
So how did you all do with our little riddle? You would think it should have been a no brainer for our friends at the task force and the state attorneys office, but somehow I think all this is a total surprise to them, perhaps its the first time they're even hearing about all this. From what I'm able to gather, simple RE flips where the sellers made six figure profits by busting out homes is no longer the flavor of the day at the Mortgage Fraud Task Force, to remain relevant, the task force has to keep finding new bad guys. A few months ago their new target was Foreclosure Defense clinics, then recently over the last few weeks the flavor of the day became "Short Sale scams". In a nutshell for the people behind the four transactions that we mentioned, rest easy, you're no longer a newsworthy target and after all, that's what the task force busts are about, MAKING NEWS. We'll investigate why a little later this month.
Now, for something a lot less serious, lets take a look at this comment one of our readers left over the weekend on this post:
YO! Am I getting a little too close for comfort? The Straw Buyer is writing about a story no one cares about, yet you keep reading? There is a joke in what we're writing about, a joke on the citizenry of Miami Dade County, its going to reveal itself over the next three weeks.