A Sign of the Times

[Tom H]

A sign of the times from Craigslist, hopefully they take the files out of the file cabinets before they find a new home.

Tom

Reply to: (Email Omitted)
Date: 2008-02-14, 11:59AM PST


Mortgage Company furniture for sale.........fire sale prices!
All wood furniture is maple finish.

(1) Reception desk left return custom made with protective glass top.
(2) Reception chairs quantity 3x.
(3) Desks 63"x31" quantity 2x.
(4) Desks 47"x31" quantity 2x.
(5) Desk corner units 44"x44" quantity 3x.
(6) Tall bookshelves quantity 2x.
(7) Credenzas quantity 3x.
(8) Small filing cabinets quantity 5x.
(9) Conference room/dining table & 4 chairs.
(10) Small bookshelf quantity 1x.
(11) Small corner table quantity 1x.
(12) HON large file cabinet 66"x42"x19" quantity 1x.
(13) HON shelf units 36"x75" quantity 2x.
(14) Open metal shelf racks on wheels 48"x75" quantity 2x.
(15) Folding utility tables 48"x24" quantity 2x.
(16) Folding utility table 72"x30" quantity 1x.
(17) Metal reception chairs/blue fabric quantity 4x.
(18) Fridge, microwave, toaster over quantity 1 of each.
(19) Metal side resin top desks 48"x30" quantity 2x.
(20) Divider for metal desks 48"x62" high quantity 1x.

The cost new for all this furniture was $10,650.
First buyer for $2,000 OBO takes it all! Must pick up in Old Town on Feb 28 or 29.
Mortgage furniture.jpg

Mortgage furnitureB.jpg

[JacMac]

Wow, that's interesting!

I wonder what they DO do with the files??

[6wolverines]

I know what they do with the files......THEY STORE THEM IN THE BASEMENT OF THE HOME!!!!! Yep...now that sounds like a pretty safe, government approved storage facility!!!!!

Char

[mreedlaw]

I have an idea - how about all borrowers who had suffered under that company's loans, should go in and buy the furniture at lowball prices - make them submit hardship documentation to you before you agree to take the furniture off their hands....

There are federal and state regulations about the storage of files after the demise of title, brokerage, mortgage, real estate, insurance, etc... companies, there has to be a party designated as the "responsible party" guardian of the information and it must be stored in a safe and secure place...there are archival firms for that purpose. They act as guardian and storage for the files through a scanning service that they offer and charge for, then the archival company must be designated with the State Agency that regulates the industry as the guardian of the data.

However, they are finding like in the case of Ameriquest and the dumpsters out back of Ameriquest with all of the non-shredded files that this is not being done per the regulations and rules of either federal or state requirements.

Where is your information tonight.......