• mutheta

    The fact that RSCCD chancellor, Raul Rodriguez’ subordinate
    negotiated his contract is alarming by itself. To also learn Rodriguez’ home loan was financed by SCHOOLS FIRST where his subordinate served as chairman of the board raises some serious questions. A search of public records reveals interesting details:

    Rodriguez’ SCHOOLS FIRST loan was actually two loans – a first for $576,000 and a second for $72,000. Rodriguez put $72,000 (or 10% down) and his two loans closed on November 2, 2011. At the same time he was approved for his two SCHOOLS FIRST loans he owed about $198,000 on his Stockton home mortgage. On February 27, 2012 a Notice of Default was issued on his Stockton property.

    1) How could SCHOOLS FIRST approve two loans for Rodriguez with a minimal down payment during the height of the financial crisis knowing he would also be carrying a third loan on his Stockton home for a total of over $800,000 in mortgage debt?

    2) Had Rodriguez already stopped paying on his Stockton home mortgage
    while in the process of loan approval on his two mortgages from SCHOOLS FIRST? If so, did SCHOOLS FIRST look the other way?

    • David Zenger

      Good question. I was wondering about that outstanding loan, too. He may not have revealed it to the CU, which is fraud. He also walked out on the Stockton loan that he really could afford to keep making payments on – another species of fraud, against the original mortgage holder.

      What a guy! And he is the non-imbecile that Yarbrough wants running the ship. That is very, very telling.

      • mutheta

        David – The most serious aspect of this matter is what was SCHOOLS FIRST’s involvement? If Rodriguez’ subordinate somehow was able to get his loan approved that would normally not have been approved, then there could be serious liability on the part of SCHOOLS FIRST. This could be something a class action law firm might want to look into on behalf of the members of SCHOOLS FIRST. Anyone denied a loan by SCHOOLS FIRST during this time may be able to claim damages. I am also curious as to the terms of the loans. Did Rodriguez get a special interest rate?

        At the time Rodriguez’ two loans were approved, many financial institutions were not granting loans and especially loans that size. At the very least, Rodriguez did stop paying on his Stockton home loan. This was a strategy of some homeowners during the recession, but it does show a lack of ethics, especially by a public figure.

  • Paul Lucas

    Im a graduate from Santa Ana college this really upsets me.

  • David Zenger

    I’ve seen it over and over again. SOP at the County. The politicians look the other way while the top level bureaucrats rake it in…just so long as they get to wet their own beaks, too. The junior college…er, “community college” districts, are the worst offenders because they receive the least scrutiny.

    The top-heavy JC administrations with their army of chancellors and vice chancellors and presidents, etc. could be cut 75% and NOBODY would notice the difference.