JV Short Sale

Agency: California Bureau of Real Estate ~Description: On November 15 2012 the California Department of Real Estate filed a Desist and Refrain Order against this company and its principals. The Order was filed in the public interest after the Commissioner caused an investigation to be made into the activities of the defendant. Based on the investigation the Commissioner was able to determine that the defendant had engaged in acts or practices in violation of California Business and Professions codes. The violations include but were not limited to; acting or advertising as a real estate broker by performing services for borrowers in connection with loans secured by real property; and claiming collecting or receiving advance fees for performing the services. ~~According to the Order the defendant was not licensed to perform real estate services. The desist and refrain Order prohibits the defendant from performing any acts or practices within the State of California for which real estate broker license is required specifically prohibiting the practice of performing services for borrowers in connection with loans secured by real property; and claiming collecting or receiving advance fees for performing the services unless or until a real estate brokers license has been obtained . Upon entry the Order was finalized. ~Date of Action: 11/15/2012~~Agency: California Bureau of Real Estate ~Description: On March 1 2013 a first Amended Accusation was filed by the California Department of Real Estate accusing the defendant John Wesley Villines of unlawful trust fund handling; failing to establish and maintain a trust account at a bank or other recognized financial institution in the name of the broker for deposit of advance fees he collected; entering into advanced fee agreements and attempting to claim demand charge and/or collect advanced fees prior to obligation for completion of a loan; violation of real estate law or regulations; fraud or dishonest dealing in licensed capacity; fraud or dishonest dealing as principal; and negligence or incompetence in performing licensed acts. The Order was filed in the public interest after the Commissioner caused an investigation to be made into the activities of the defendant. Based on the investigation the Commissioner was able to determine that the defendant had engaged in acts or practices in violation of California Business and Professions codes. The violations include but were not limited to; acting or advertising as a real estate broker by performing services for borrowers in connection with loans secured by real property; and claiming collecting or receiving advance fees for performing the services. ~~According to the Order the defendant was not licensed to perform real estate services. The desist and refrain Order prohibits the defendant from performing any acts or practices within the State of California for which a real estate broker license is required specifically prohibiting the practice of performing services for borrowers in connection with loans secured by real property; and claiming collecting or receiving advance fees for performing the services unless or until a real estate brokers license has been obtained. Upon entry the Order was finalized. ~Date of Action: 3/1/2013