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The Latest on Loan Officer Ross Pickard
If you’ve been following the Cay Clubs’ mess here on FlippingFrenzy.com, you’re already familiar with a former JPMorgan Chase & Co. (NYSE: JPM) loan officer named Ross Pickard. According to a number of Cay Club investors, including Carisa and Craig Urban, unbeknownst to them, while working at Chase, Ross Pickard intentionally fudged their income and assets in order to get their Cay Clubs-related loans approved. As a result, according to the Urban’s, as recently as April of this year, there was a task force looking into Mr. Pickard’s practices, and it may only be a matter of time before he is possibly charged with a real estate or mortgage fraud-related crime.
Fast forward three months and we’re just now learning that Ross Pickard is employed in a loan officer-related role at Wells Fargo. As near as we can tell (from phone calls to placed to Mr. Pickard’s own office), Ross Pickard now works for Wells Fargo Private Client Services, which is located at 5625 Strand Blvd. in Naples, Florida.
We’re not sure about anyone else, but we sure are surprised that Wells Fargo chose to engage Mr. Pickard when he stands to lose so much as a result of these alleged bad acts. Inflated incomes and assets–both by homeowners and loan officers–created a lot of our current mortgage mess in the first place, and if Mr. Pickard is doing the same under Wells Fargo’s roof, they too may become caught up in something they just didn’t bargain for when agreeing to work with the likes of Ross Pickard.
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