Monday, February 15, 2016

Coincidence or just another smelly FNB fish????


Does Something Smell here??



A Tale of Two Texas entities and 
First National Bank Edinburg:

Pelon, LLC  is managed by former FNB CEO Saul Ortega and Cielo Realty Partners, LLC  is managed by Rob Gandy Jr, son of Robert Gandy (Ortega's predecessor at FNB).

Did either of these two entities purchase or acquire properties from the substanital OREO list that FNB had prior to its September 2013 closure? 

 And if they did, what kind of terms to they get?  Was there preferential "pricing" that they received?  Was there a loan committee that approved these loans?  Did they go through the same underwriting that all loans do?

Is it coincidence that Ortega forced an Edinburg businessman to take 2 properties from the FNB OREO list and one that his entity owned in order to obtain a loan with 100% financing?  Does it make you wonder any more about how and why Jadon Construction out of Edinburg acquired a defunct development property about 300 miles away known as Tundra Village with 100% financing?

Wow, it would be fun to see how many properties from the former FNB OREO list made its way over to entities that were owned or controlled by former FNB officers or their families.....don't you think?!?!

Or maybe, just maybe, would any of these properties have any strings attached to them by Texas National Bank or Colorado Valley Bank? (You do the research and figure out why these banks are listed here)

Maybe soon we'll learn more about the extensive family of FNB......

4 comments:

  1. What happened to the lawsuit? I heard Martinez got sued by his own clients and then all the other attorneys quit?

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  2. I think these sons-a-bitches are going to get away with it, my guess, just saying.

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  3. This comment has been removed by a blog administrator.

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