Panther does not settle with First Magnus - Breaking News
There was a desire on the part of First Magnus to settle the civil claim with Panther Investment over the last few days. Our answer was no. Why? Because as you have seen and will see our story unfold, what we believe—and have been advised—were their actions, which have brought our business and revenue to a halt. Our answer is a $50MM claim against First Magnus. We will post shortly the case and file number in the Nevada public courts.
For this blog posting - let me unveil to you just one piece…in my opinion, of incredible lack of underwriting guidelines:
1. One Buyer , on the following dates, purchased 6 homes with 95% to 100% financing by First Magnus. Each home approx. $300,000+.
2. It is all verified on the Clark County Recorders Website (Buyer’s name revealed tomorrow).
3. The purchase dates were: 2 Loans (1st and 2nd) on 4/18/05, 5/11/05, 2 Loans (1st and 2nd) on 5/11/05, 2 Loans (1t and 2nd) on 5/13/05, 2 Loans (1st and 2nd) on 5/16/05, 2 Loans (1st and 2nd) on 7/28/05.
Yours truly, Maria Gudelis
Filed under: Miscellaneous
