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Peter
Rosenthal, founded V.I.P. Realty in
January, 1976.
V.I.P.
stands for Vista Income Properties and as such
specialized in the sale of residential income apartment
buildings in the 4 to 20 unit range. Due to the need for additional
financing for many of the property buyers, Mr. Rosenthal was
constantly being asked to furnish lenders willing to make
second trust deed loans to buyers of income property.
In
1977 V.I.P. Trust Deed Company was formed
for this purpose, and quickly exceeded the size of the
original company, V.I.P. Realty.
A companion company, Foothill
Conveyance Corporation, was formed to act as a trustee for
the trust deeds generated by V.I.P. Trust Deed
Company. Foothill Conveyance provided trustee,
reconveyance and foreclosure services, and continues to do
so today. Foothill also acts as a servicing agent for escrow
companies, attorneys, outside beneficiaries, and several
banks.
These companies and other
related real estate holding companies continued until 1995.
In early January, 1995, Foothill 109, Inc. (the parent
company for V.I.P. Realty) was sold.
The
company's first office was at 109 N. Chevy Chase Drive,
Glendale California 91206 for approximately 15 years.
In 1990 The company moved a few miles North to it's present
location at 3450 N. Verdugo Road, Glendale California 91208.
Over the
years V.I.P. has received hundreds of accolades and letters
of appreciation form lenders and borrowers alike. In
2007 V.I.P. was commended by the county of Los Angeles for
being voted "The Foothills Best Mortgage Company" in a poll
conducted by the Glendale News Press.
Unfortunately Mortgage fraud has always been a small, ugly
part of the mortgage business. Some fraud is committed
by mortgage companies against their lenders or borrowers;
more commonly by borrowers. Since it's inception
V.I.P. has assisted law enforcement in combating fraud.
Whether it's forged documents, phony escrow and title
companies, phony sales contracts or bankruptcy fraud, V.I.P.
has seen it all. Thousands of hours have been spent on
a pro bono basis helping various California police
departments, District Attorney's Offices, F.B.I. Offices,
The Justice Department and The Department of Real Estate in
"making" their cases. The V.I.P. technical assistance
has resulted in loss of real estate licenses, arrests and
jail time.
Starting in
the 1990's, Cameron Kessinger, a twenty plus year V.I.P.
veteran started purchasing company stock... The company
stock is now owned 50/50 by the Kessinger and Rosenthal
families.
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