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Earlier this week, I came across a rather interesting document from several years back. Oddly enough, my knowledge of Larry Maxwell's mortgage fraud predates my employment with Hawthorne. Here was this guy who was representing BOTH the buyer and seller (which, although rare, is very legal) and managing to sell his properties within two weeks or less, and for top market value or even higher. Much of this was happening while the mortgage industry as a whole was slowing down. Either Maxwell had figured out something that nobody else had, or there was some kind of fraud happening.
Based on his "maximum" sentence, we all know what the answer to that question was. Since I knew I'd be starting up at Hawthorne, I called up a Realtor with whom I worked, and asked him to compile a list of Maxwell deals from the MLS for me. He put together a list of every transaction Maxwell worked on in the 55411 and 55412 zip codes from 2005 through part of 2007. Another researcher did some additional work with the data. When I was doing a bit of housecleaning and came across this document, I thought I'd see what these properties are like now.
There were a total of fifty-nine transactions, and out of those fifty-nine...
