This is the response of the pig who brokered my loan to me when I filed a complaint against him with the Mortgage Banking Department.

Dear Ms. X,

Island Equity Mortgage Inc. has researched the file that was closed on October 3rd, 2006. At the time Regina Ferraro was your Loan Officer. In the file for (address ommitted) all of the documents were signed and dated correctly with the precise information regarding your loan. On the HUD 1 Statement on Line 1306 it clearly sates that the YSP is $3,450 not $14,600. The $14,600 is line 1205, which is the mortgage tax. Enclosed is a copy of the HUD1 settlement signed by you at closing. In regard to CountryWide HOme Loans, their closing papers also have the name Americas Wholesale Lender, which is their name as well. Please feel assured that this is the same bank that you have purchased your loan with (MY LOAN APPL. SAID IF AMERICAN WHOLESALES CLOSED THE LOAN THERE WOULD BE NO PP PENALTY BUT IF COUNTRYWIDE DID, THERE WOULD BE. THE FINAL LOAN DOCS HAVE BOTH NAMES ALL OVER THE PLACE — AND OF COURSE, THESE BASTARDS NEVER SAID THERE WOULD BE A PP PENALTY.)

The letter continues:

“When I spoke with you on Thursday, the 17th of October, you were interested in going to another ARM LOAN. (WHAT THE F$&k!!!!! I CANNOT BELIEVE HE WOULD HAVE THE NERVE TO WRITE THIS BS WHY THE F@#K WOULD I WANT THAT?????)

It goes on:

“Unfortunately the banks have changed all of their guidelines. We are still looking into other banks that offer ARM loans. I mentioned a fixed rate to you but the payments where to high (NOT WERE TOO HIGH BUT where to high, IGNORANT BASTARD) for your situation. I then spoke to you on Monday 3rd of December to seee if there is anything that we can do to help with your current situation. I believe we both came to an agreement to have Island Equity Mortgage INc. speak on your behalf with CountryWide Home Loans in trying to find a better alternative for your loan in, in regard to the pre-payment penalty (LIES, LIES, LIES).

Island Equity Mortgage Inc. would like to help with your loan, and in doing so we are prepared to dissolve the broker fee for you. Our intentions to help you find a loan that helps with your current situation. Please feel free to call me at your convenience.”

I CAN’T BREATHE THIS BULLSHIT STINKS SO BAD!!!

Definition of a Budget: “A mathematical confirmation of your suspicions.”…

This shows the lack of integrity and responsibilty of brokers like this who prey on unsuspecting uneducated consumers.

THis is my response to the phone call from ERNESTO PUTERI of Island Equity Mortgage:

I am in receipt of your letter dated November 29th, 2007. To follow up on my electronic complaint, a number of supporting documents were forwarded to your office. Delivery confirmation confirms their delivery and I trust you are in receipt of those documents. I am writing this letter as a follow up to the phone call which I received from Mr. Puteri in regard to my complaint against Island Equity Mortgage Inc., and his ensuing response to address my concerns.
In regards to my complaint, Mr. Puteri less than five times during our verbal conversation offered to refinance my loan AGAIN at no cost (except what he will undoubtedly received in overage/YSP funds from the bank.) Mr. Puteri requested a letter from myself authorizing him to speak to my current noteholder, Countrywide Bank, on my behalf in regard to possible refinance, and also requested that I send him my financial information again so that he may begin to “shop” my loan around to other banks, offering much to my disgust and surprise to obtain another low ARM loan on my behalf.
On the issue of the lack of disclosure with regard to his YSP and the Prepayment penalty, Mr. Puteri’s response was that the documents which were signed at the closing (at which neither he, nor the broker Regina Ferraro attended) is evidence that I was indeed informed of above addendums to my loan.
Mr. Puteri was unable to address the bumped up monthly income of $12,000, which was falsely listed on my application; the failure of himself to disclose the YSP, prepayment penalty and right to rescind when I personal spoke to him about my dissatisfaction with the loan, nor the misrepresentation of the loan by Regina Ferraro as one in which I could pay down my principal by making alternate payments of the minimum 1.5% payment and the full payment every other month.
In fact, Mr. Puteri had the audacity to advise that with a new ARM I could make the minimum payment each month for a year and pay off the accumulated negative amortization with just one full payment at the end of year. When it was pointed out to Mr. Puteri that the current loan I have negatively amortized more than $12,000 in only ten short months, Mr. Puteri expressed sorrow and offered once again to “get” me into another new loan.
I would like to emphasize that there were two loans and closings attended by myself, one on the 28th of September and the other on the 3rd of October. Upon my call to Mr. Puteri onthe 28th of September, expressing dissatisfaction with the loan and a desire to rescind it, Mr. Puteri had the opportunity to fully disclose all the terms in my loan and failed his fiduciary duty to do so. In fact, Mr. Puteri went out of his way to MISREPRESENT the terms of the loan so that I could close on the loan within the three day rescinding period.
I would like to emphasize that my complaints against Island Equity Mortgage is for their lack of disclosure as is required by the Statutes. I am hoping that at this critical point in the mortgage real estate industry, The State of New York Banking Department will send a very clear message to Mr. Puteri disregard for the statutes governing mortgage brokers will not be tolerated.
As was advised, I am responding noting my dissatisfaction regarding Mr. PuteriPuterilack of integrity and responsibility as per this very grave matter. I can be reached at XXX XXX XXXX at any time. Thank you very much for your time.

Keep on their ass. don’t quit until they fix it.