Here is a story that I can not believe. Because of a judge in Ohio, you can be a loan originator in that state and be a convicted felon. The judge ruled that because a felon had completed his sentence the state can not regulate their opportunity to earn a living.
I wonder if that same judge would allow a sex offender to run a day cares. If someone has been shown not to be trustworthy you can not put them in a position to get others financial information and destroy their world. How is a homebuyer to know? Hi, I am Jim and want to get a loan. By any chance are you a convict felon? JEESHHH!!!
To say Thomas Sands isn’t exactly the poster boy for mortgage brokers would be like saying Michael Jackson isn’t exactly Babysitter of the Year. This is a man who has pleaded guilty and served time for stealing from and cheating clients. On top of that, Sands has a long history of declaring bankruptcy and repeatedly defaulting on his own home loans.
According to the Columbia Dispatch, Thomas Sands was a hot-shot attorney in Zanesville, Ohio who lived an exuberant lifestyle. Planes and real estate were purchased with money he cheated his clients out of. In 1994, Sands pleaded guilty to 16 counts of forgery and grand theft. He was ordered to forfeit his law license, pay back client losses of $800,000, and spend nearly two years in prison.
Two years after his release, Sands found a brand new career as a loan officer.
His new gig was almost short-lived in 2002 when the state of Ohio began running background checks for loan officers as part of its licensing process. They flagged Sands’ application and informed him it would be denied.
Sands appealed and won, claiming that his criminal history was just that – history, and that he was now living clean and abiding by the law. Yet, his personal problems persisted. For the third time in 10 years, he defaulted on his mortgage and filed for bankruptcy.
State Allows Felon to Originate Loans – OriginatorTimes.com.
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{ 8 comments… read them below or add one }
In your assumption that all felons are equal, I would like to point out that you are a fucking moron. First off, someone being convicted of a sex crime is not even in the same class as someone convicted of, lets say Breaking & Entering. Sexual offenders are typically thought to be non-rehabilitative (there are those few who never offend again). Someone convicted of breaking & entering usually has a whole different world of circumstances. They both broke the law, but that is all they have in common.
Are you so perfect that you have NEVER violated any rule or law? E VER? If you say you haven't, I'll call you a lying cocksucker to your face. Regardless what you think, many people who are felons learn from their mistakes… and the only difference between them and you are they have been caught!
Since I know this person that was convicted of MULTIPLE felonies…forging and stealing clients money, he was and still is the type that should NEVER have access to others financial information. Seems that someone missed reading that part. Sorry that the previous poster can't speak without resorting to name calling.
After reading this again, I believe that I can say with absolute certainty, that the comment from “danyael” was from Tomass Sands himself! Rehabilitated? Not hardly.
So you think that someone convicted "Drug Trafficing" in college for selling dime bags of pot to other students? I hardly think that warrants not allowing someone to be a loan officer.
Maybe they should narrow it to be "public trust" convictions….
That makes no sense for people who can't be trusted to be in a position of power.
i love how ppl put felons down i am a felon who was wrongfully convicted i did not do the crime i was convicted of but was given a plea bargain that sounded to good to be tru and was told if i didnt take it they would give me the max 12 months no matter whAt but if i just pled guilty i would get probation i just now was released from prison after 10months 2 month short of what they could have given me ohio"s law system is a pos all they car about is money witch they got a lot from me for damn sure also my crime was not anything major just an f5 for stealing a car that ive never even seen just found by my house bunch of fucking bull shit NO REASON FOR ME TO LIE IVE DONE ALL MY TIME AND AM NOW FREE AND CLEAR JUST HAVE TO LIVE WITH THAT ON MY RECORED FOR LIFE NOW !
i am a felon and what i just read is crap.not all felons are thiefs,i was invoved in buying somthing that was stolen,even not knowing it was stolen i was sent to prison and now have record,i am sick with cancer and cannot work nomore and i cannot find a place to live due to that felony which by the way was 4 years ago.i am forced to what ?live on the street ?sell drugs?rob the first person i see?thats not what i want to do but damn give a guy a break.i am a none violent offender that cannot get housing and that a shame,the laws that are in place make people commit crimes so they will have a place to live and thats crap,the goverment mind as well keep all offenders for life if they cannot get housing.
I know Tom personally and can attest to the notion he should never be allowed to handle mortgages or the finances of others, including car sales. He is a con-man to his core, and has proven yet again in 2010 that he is not a changed man. The first post sounds like him too.