Former financial advisor contesting foreclosure, alleging corruption and malfeasance that rises to the level of public policy in Nevada
LAS VEGAS – July 9, 2024—Jeffrey Martin Wiltse today announced he is seeking relief from the District Court of Nevada due to significant actions taken against him by LoanCare LLC, a mortgage servicing company with a market capitalization of $12 billion. Wiltse, a former financial advisor, alleges negligence on the part of LoanCare. He considers his case partly a matter of public policy due to the fact that the Nevada District Court had previously ruled that a loan servicer like LoanCare owes its customers no “duty of care” in Nevada.
This legal action is a follow-up to an earlier lawsuit brought by Wiltse against LoanCare contesting the loan servicer’s foreclosure action against Wiltse. LoanCare allegedly attempted to foreclose against Wiltse due to his use of Bitcoin through an eBay account for his LLC.
“Their attempt to throw me out of my house for legally using Bitcoin in my business was entirely pretextual and completely at odds with the spirit and letter of the law,” Wiltse explained. “It was also immoral and unethical. Yet, as anyone who has ever had the nerve to get into a fight with a multi-billion-dollar loan servicer will tell you, the deck is handsomely stacked against you. That’s not a problem for me. I’m a fighter, and these people are going to learn that they messed with the wrong person.”
The foreclosure against Wiltse is being handled by Trustee Corps and the Nevada Affordable Housing Assistance Corporation (LoanCare), a taxpayer-funded non-profit corporation. According to Wiltse, LoanCare has a fiduciary obligation, per the Nevada Administrative Code § 645F.976. A mortgage servicer has a duty of good faith and fair dealing in its communications, transactions, and course of dealings with each borrower in connection with the servicing of the borrower’s mortgage loan.
In Wiltse’s experience, LoanCare has utterly failed to meet this standard, causing him grave distress and harm in the process. Four separate representatives of LoanCare have made significant errors that have affected Mr. Wiltse. They have confirmed that they then had fixed their own errors. Due to these errors, Wiltse ended up facing foreclosure, even though he complied with monthly payments and his case was under appeal.
The regulation also states: “In addition to any duties imposed by other statutes or at common law, a mortgage servicer shall: Safeguard and account for any money handled for the borrower or lender. Follow reasonable and lawful instructions from the borrower or lender. Act with reasonable skill, care, and diligence.”
Wiltse added, “Rande Johnsen of Trustee Corps continues to prosper, and LoanCare LLC operates with impunity, exploiting others through lies, fraud, and state collusion to steal people’s homes.”
Because of his significant case and lack of support from the State of Nevada, Wiltse’s home ownership is on the line. He explained, “Countless people have come to my home trying to buy it, despite my never wanting to sell. This relentless harassment has turned my sanctuary into a prison. There is a conspiracy to force me out of my home for financial gain. The government’s failure to protect me is an unforgivable betrayal of the citizens of Nevada.”
“I am pursuing a lawsuit against: Verise Campbell, Timothy Whitright, and Rande Johnsen, who have colluded against me for the financial gain of Rande Johnsen of Trustee Corps, at my expense. As of June 2024, LoanCare LLC has aggregated a total of 1,210 reviews on various platforms. 1,168 of these have earned only one-star, which translates to a 96.5% disapproval rating.”
“This is undeniable proof that I am not simply unlucky or failing to make payments,” added Wiltse. “The Better Business Bureau reviews further highlight this issue, with LoanCare LLC receiving a total of 419 reviews with an average rating of 1.07 out of 5 stars.”
Wiltse has practiced and disseminated all financial advice in a professional capacity with no strikes against his FINRA record. According to Wiltse, he has had a financial advisory services company for the past fifteen years. He said, “My belief in Bitcoin is grounded in a deep understanding that fiat currency because governments and banks benefit a select few at the expense of many and have stacked the deck against the consumer. I have been conducting business using Bitcoin thanks to a path to financial freedom and protection from systemic abuses.”
According to Wiltse, “I feel it is my absolute imperative to communicate with individuals within the state, to redress grievances and to let you know that homeowners in Nevada are owed no duty of care. This grave oversight puts anyone paying their monthly mortgage payments at tremendous risk, as a ‘servicer’ is not required to honor a signed agreement let alone respect laws designed to protect homeowners.”
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Jeffrey Martin Wiltse