SCA Board secretly sold a dozen houses in 2014

SCA’s 2014 Foreclosures WERE NOT IDENTIFIED in the UNLV Study

A 2017 study conducted by the UNLV Lied School of Real Estate, commissioned by the Nevada Association of Realtors, studied 611 HOA foreclosures between 2011-2015.  Somehow they missed ALL of SCA’s HOA foreclosures.

Ten HOAs had 1/6 of 611 foreclosures UNLV studied.

 

Why didn’t UNLV know about SCA’s 13 sales?

SCA had 13 foreclosures in 2014, but SCA is not in the UNLV HOA foreclosure study’s list of HOAs that had more than five foreclosures from 2011-2015.
Notice a pattern? ALL SCA foreclosure buyers were knowledgeable speculators. Some would call them “vulture investors”. This pattern – selling for a dime on a dollar to a few wise guys – would never have happened if bidding had not been suppressed by a few unsavory practices:
  1. Convince the HOA Board that they must keep everything about foreclosure secret,
  2. have no agendas or minutes of HOA Board actions to foreclose
  3. give no notice to the owner whose house is being sold
  4. Allow the manager to be the debt collector and control EVERYTHING about the money that’s collected for the benefit of the HOA members
  5. Allow the debt collector full, unilateral, unsupervised proprietary control all the records and processes, so the HOA has no independent records;
  6. give away signatory control over bank accounts of HOA money collected,  
  7. allow the debt collector to use the HOA attorneys against a homeowner who complains
  8. allow the debt collector to lie about notices that were given.
At Sun City Anthem, not a single homeowner knew when or where RRFS was selling these houses. In the case of 2763 White Sage, RRFS intentionally WITHHELD notice to ALL parties with a known interest – and then lied about it.

NOTICE A PATTERN? FOLLOW THE MONEY

TRP Fund IV LLC bought four @ an average price of $52,125, less than 20% of fair market value. Two sham LLCs, using the property address as the corporate name, bought houses for $6,500 & $7,600. All 13 houses COMBINED were sold for $734,900 to a few people “in the know”, and not a single one to an SCA owner.
1/2/14 RRFS sold  2532 Grandville Ave for $25,500 to TRP Fund IV LLC . TRP FUND IV v. HSBC Bank A-16-735894-C SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
1/2/14 RRFS sold 2227 Shadow Canyon to TRP Fund IV LLC for $40,000. Nationstar Mortg., LLC vs. Saticoy Bay LLC Series 2227 Shadow Canyon 133 Nev. Advance Opinion 91, 405 P.3d 641 (Nev. 2017). There is no SCA record that the SCA Board approved the sale of this property. SCA was not identified AT ALL in the as the HOA that authorized this sale. Neither SCA nor RRFS were named parties to the litigation.
2/18/14 RRFS sold 2721 Evening Sky for $40,000 to TRP Fund IV LLC
2/18/14 RRFS sold 2115 Sandstone Cliffs for $54,000 to TRP Fund IV LLC TRP Fund IV LLC v. Bank of Mellon et al, A-15-724233-C SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
2/18/14 RRFS sold 2842 Forest Grove for $89,000 to TRP Fund IV LLC
3/7/14 RRFS sold 2260 Island City for $30,000 to SFR Investment Pool
3/7/14 RRFS sold 1382 Couperin Dr for $100,100 to LN Management LLC series 1382 Couperin
3/14/14 RRFS sold 2167 Maple Heights for $6,500 to 2167 Maple Heights Trust Bank of NY Mellon v. SCA 2:17-cv-02161-APG-PAL, ADR 17-91. SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
3/28/14 RRFS sold 2584 Pine Prairie for $7,600 to LN Mgt Series LLC 2584 Pine Prairie. LN Mgt LLC series 2584 Pine Prairie v. Deutsche Bank A-14-707237-C SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
4/29/14 RRFS sold 2175 Clearwater Lake Dr. for $45,100 to Saticoy Bay LLC 
6/10/14 RRFS scheduled the sale of 2986 Olivia Heights Ave, that was cancelled by a Citi Mortgage temporary restraining order. Citimortgage Inc v. SCA  A-14-702071 NV Supreme court case # 71942. SCA Board authorized paying $55,000 to Citi to settle the case. SCA did not enforce the 4/27/12 RRFS contract indemnification clause that would have shifted this expense to RRFS.
8/15/14 RRFS sold 2763 White Sage Dr. for $63,100 to Thomas Lucas who took title as Opportunity Home, LLC Jimijack vs BANA & SCA (A-15-720032-C); Nationstar vs Opportunity Homes (A-16-730078-C), Nona Tobin vs Joel Stokes et al A-19-799890-C, Supreme court appeal #79295. SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
9/11/14 RRFS sold 2921 Hayden Creek Terrace for $100,000 to Jayem Family LP FNMA v SCA 2:17-cv-1800-JAD-GWF SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
11/12/14 RRFS sold 2416 Idaho Falls for $174,000 to Global Village LLC. My Global Village LLC v BAC Home Servicing A-15-711883-C . SCA did not enforce the 4/27/12 contract indemnification clause that would have shifted this expense to RRFS.
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