Thursday, November 6, 2014

Epps' buying of properties raises questions

I am working on the post right now and it will take some time to scan and upload the documents, but here is the nutshell version.

Chris Epps and his wife Catherlean purchased a home in Rankin County.  The original deed of trust was for $359,000 and issued in 2006.  The loan was refinanced several times and paid off in 2012.  Let that sink in for a minute.  An agency head bought a nice home with a large mortgage, and then paid off the mortgage in six years.  What is also interesting is he owns a condo on the coast.  However, court records state there was no deed of trust issued for that property.  Hence, Mr. Epps either paid cash for the condo, or it was given to him. Stay tuned.

Chris and Catherlean Epps purchased a home on 511 Shalom Way in 2005.  Trustmark issued a deed of trust of $359,000 to the Epps. They purchased the home from C&F Homes. They refinanced the home in 2007 with Countrywide for $419,000 on a 30-year note, and again with Countrywide in 2008 for $403,750 in a 15-year note. (The interest rates dropped at that time. It would make sense with the size of the note to take advantage of the rates.)  The couple refinanced again in 2009 for $257,000. Wells Fargo issued the deed of trust. The note was paid and the deed of trust released in 2011.  More to follow.


Anonymous said...

Paying off a mortgage early, in mere years, is not unusual.

Anonymous said...

Unless you get 3 or 4 $100,000 bribe checks to do it.

Anonymous said...

Maybe his wife has substantial income or they received an inheritance, but paying a mortgage early in that amount on his salary alone would be unusual. The Clarion-Ledger this morning also reported that two late model Mercedes were seized. Again, on his salary alone, it seems unusual that he could swing all that.

Anonymous said...

@9:12 True...but rare. With other peoples money when you are giving out contracts though is highly illegal. Now lets see who is gonna get snatched up!

Anonymous said...

I'm betting Epps attended that Dave Ramsey "Financial Peace University" class at Pinelake (whose preacher used to live in that Gated Luxury community). You know, pay off your mortgage early and invest the money. Guess Dave didn't mention the exposure to Hobbs Act, 18 USC, as well as the IRS coming to take you away. Irony: Shalom ("Peace") Way address and "Financial Peace." I'd rather be poor (my wish has been granted) and free than being sent to my own prison. Luckily, these are Federal charges, so McCrory is probably already lobbying for Pensacola's Club Fed for cooperation along with downward departure.

Kingfish said...

The problem is there is no mechanism in place for to detect law enforcment agency heads doing things like paying off large mortgages very early and the like.

Anonymous said...

So you want government agency heads to have their mortgage payment histories monitored? Why stop there?

Anonymous said...

there is such a mechanism. disclosure forms. releases so such forms can be verified. don't want to disclose and consent? go work somewhere else where there are no security concerns.

Bigger Government said...

Exactly, 10:33! It's alarming that the blog owner here would suggest that the bank transactions of agency heads be monitored so that law enforcement can 'detect things like (this)'

And I thought Epps was just taking a little cash in exchange for cell phones over on 'C Block'.

Anonymous said...

They can fill out forms falsely all day long, but there is no mechanism to vet the information. This is the same everywhere, from the CIA spies to local government. It's a paper drill unless someone does an investigation or spot check. Much less pays attention to irregularities. And nobody makes these private companies (with all that private sector "efficiency") fill them out. Hence the push to outsource government and "cut bureaucracy" such as audits and disclosure. It pays.

Anonymous said...

Somehow I don't think that Kingfish is suggesting self-disclosure.

Anonymous said...

Looks like all eyes are on the small fish but that's what he get for rolling with the DOGS. Let's see if the USAG look in to ranking co school contracts . The governor of the state of MISSISSIPPI in NISSAN relationship!!! O MY

Bullshit Detector said...

2:47 ~ Nissan's been sitting out there for 13 years. How many gubnors will one cell hold?

Anonymous said...

What about Gov Phil Bryant right hand man Josh Gregory no bid deals with all these state agencies.

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