Brandon Lincoln Woodard was killed on West 58th St. yesterday afternoon in what looks like an execution. Police released information that Woodard’s mother, Sandra McBeth Reynolds, owns a company in Los Angeles called United Mortgage. Only one problem: on the internet, and with the government, Sandra McBeth Reynolds has enemies a mile long.
Not everyone’s mother has a website set up by her enemies. But Brandon Woodard’s did. It’s at www.sandramcbeth.info. There are sections devoted to her alleged criminal activities and lawsuits, questions about her college degree, etc. It’s not a pretty picture.
The California Department of Corporations suspended United Mortgage from doing business for 60 days from December 1, 2009 to February 1, 2010: http://www.corp.ca.gov/ENF/pdf/u/unitedcasystems_OS.pdf.
In her bio, available on that website, Sandra McBeth is described as an entrepreneur who skyrocketed from a small office on South La Brea Avenue in a poor part of Los Angeles to selling loans to a skyscraper success in Century City, just outside of posh Beverly Hills, California.
The Better Business Bureau — which does not give accreditation to United Mortgage– details on its website actions taken against the company:
Agency: Department of Corporations
Description: On December 2, 2009 this company entered into a settlement agreement with the California Department of Corporations (DOC) to resolve charges filed as a result of a scheduled regulatory examination which took place in April 2008. The company was required to electronically file application/loan and servicing reports with the DOC by March 7, 2008. The company failed to file the reports in violation of State Financial Codes.
On June 5, 2008, one of the Commissioner’s examiners went to the company’s licensed location of record. The examiner discovered that the company had relocated its business operations without providing prior notification to the Department in violation of State Financial Codes. When the Commissioner’s examiner subsequently attempted to visit the licensee’s new location, the company denied the examiner access and failed to provide the requested reports and examination documentation in violation of State law.
In addition, the Department received information that on September 17, 2007, the company’s President, Sandra Kay McBeth, plead nolo contendere to a charge of unlawful taking/retaining of a vehicle in violation of Vehicle Code section 10851. At the time of entry of the plea, McBeth was the president and primary stockholder of United International. . On June 9, 2008, the Department sent a letter to United International informing them that due to Ms. McBeth’s violation, she was prohibited from serving as an officer, director, partner, shareholder controlling 10% or more of ownership interest.. The letter also informed the company that it was in violation of State law for any period during which McBeth held a prohibited position with the licensee. The Department further requested confirmation that McBeth had been removed from all positions and relinquished control of ownership interest of 10% or more. On June 24, 2008, the licensee provided the Department copies of minutes from a June 18, 2008 special meeting of the board of directors of United International. The minutes reflected that McBeth resigned as president and relinquished control of ownership interest of 10% or more in United International. The minutes further stated that Dori Sanford (“Sanford”) had been appointed vice president in charge of United International’s daily affairs. The minutes were signed by Bill Shack and Timothy Woods both of whom were identified as directors of the company.
On or about June 10, 2008, a meeting took place between the licensee and the DOC. An individual attending the meeting provided the Department with a business card identifying himself as “Rod Wellington, Esq.” (“Wellington). Wellington’s business card represented that he was the “Chief Operating Officer” of “United International Mortgage Bank.” On or about February 24, 2009, the Department received information that Wellington had been denied reinstatement to the practice of law by the Illinois Attorney Registration and Disciplinary Commission on January 4, 2006. Wellington’s suspension was due to neglect, misrepresentation, failure to communicate with clients, failure to refund fees, and practicing law without being registered with the Illinois Attorney Registration and Disciplinary Commission. The Illinois Supreme Court’s judgment denying reinstatement was issued within seven years of Wellington’s ostensible service as of an officer of United International. Accordingly, the company was in violation of State law for any period during which Wellington held a prohibited position or controlled ownership interest of 10% or more of the licensee. On or about February 1, 2008, an Activity Report form was sent to all CRMLA licensees with a notice that the 2007 Activity Report was due on or before March 1, 2008. The company failed to timely submit its 2007 Activity Report to the Commissioner.
On May 15, 2008, the Commissioner assessed a penalty of $1000 pursuant to State Financial Codes against the company for failing to file the 2007 Activity Report. The company also failed to file its 2008 Activity Report to the Commissioner and was subject to assessment of penalties pursuant to State law. The company also failed to pay its annual assessment to the Department for the 2008-2009 in violation of State Financial Codes.
On October 21, 2008, the Commissioner issued the company a Notice of Intention to Issue Order Revoking Residential Mortgage Lender and Servicer Licenses; Accusation and accompanying documents (collectively, the “Notice”). The Notice was amended on April 23, 2009 and August 18, 2009. The company requested an administrative hearing request, and a hearing was commenced at the Los Angeles Office of Administrative Hearings. On the second day of hearing, the Administrative Law Judge issued an order continuing the matter to December 2, 2009.
On December 2, 2009 the parties entered into a settlement agreement without the admission of guilt or wrongdoing by the company. The company agreed to the immediate issuance by the Commissioner of an order suspending their residential mortgage lender and residential mortgage servicer license for a period of 60 calendar days (“Suspension Order”). The 60-day suspension was in effect from December 2, 2009 through February 1, 2010, during which period the company was prohibited from accepting any new business, but was permitted to continue to service any outstanding loan. As full and final resolution of the Notice, the company agreed to pay the Commissioner the sum of $13,000.00 in penalties. The company also agreed to an automatic revocation of its residential mortgage lender and residential mortgage servicer license if fine amounts were not paid, or the company failed to comply with the terms of the agreement. Upon entry, the Order was finalized.
Date of Action: 12/2/2009