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Last Updated Sunday, August 22, 2010 08:33 PM CST
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Mortgage Fraud News
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Case Activity
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Aug. 23, 2010
Mortgage Fraud Cases Jump 55%
A big surge in the number of active mortgage fraud cases helped push the Second Quarter 2010 FraudBlogger.com Index higher. The heavier caseload follows increased efforts by the Obama administration to prosecute mortgage crimes.
read full announcement
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Aug. 21, 2010
Story of Bonny and Clyde of Mortgage Fraud
In 2004, Matthew Bevan Cox and Rebecca Marie Hauck were dubbed the "Bonny and Clyde of mortgage scams" by MortgageDaily.com. The two fugitives were on a mortgage fraud spree.
read article - watch video
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Aug. 17, 2010
Risk of Mortgage Fraud Subsides
U.S. mortgage loans are less likely to involve mortgage fraud than they were three months ago, according to a quarterly index released Tuesday. But the risk of identity fraud was worse.
read story at MortgageDaily.com
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Aug. 13, 2010
Uptown Dallas Hotbed of Fraud
The 75201 zip code includes an arts district, several entertainment centers and lots of swanky high-rise condominiums. An anlysis of mortgages there, however, indicated 13 percent of loans in the are include mortgage fraud.
read story at Dallas Morning News
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Aug. 9, 2010
Sacramento Expands Mortgage Fraud Unit
The district attorney in Sacramento, Calif., has expanded the real estate fraud unit.
read announcement at SACDA.org
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Aug. 6, 2010
RI AG Candidate Targets Net Branch Loophole
Stephen R. Archambault, who is running as a Democrat for Rhode Island attorney general, says mortgage brokers and originators can avoid criminal background checks and license requirements by signing a net branch agreement -- a loophole he hopes to outlaw.
read story at Providence Journal
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Aug. 4, 2010
Fast Growing Fraud Detection Firm Adding 200
Rapid growth at a technology firm that helps lenders identify potential mortgage fraud has it expanding by 200 employees in Florida. The company has doubled in size each of the past three years and expects to do so again this year.
read story at MortgageDaily.com
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Aug. 1, 2010
Mortgage Fraud Helps Topple MN Bank
A new government report on mortgage fraud indicates that post-origination reviews by parties other than the lender have grown. More than two-thirds of mortgage fraud reports were filed by institutions overseen by one federal regulator.
read story at MortgageDaily.com
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July 24, 2010
Mortgage Fraud Helps Topple MN Bank
Mortgage fraud by a builder of upscale homes helped bring down a Minnesota bank on Friday.
read story at MortgageDaily.com
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July 16, 2010
Mortgage Fraud Shifts from Brokers to Borrowers
In 2005 the worst 3 percent of mortgage brokers accounted for 100 percent of mortgage fraud. More recent studies indicate borrowers are the cultprit.
read full story at ocregister.com
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| Date |
Defendants |
State |
Amount of Loans |
Overview |
Source |
| Aug. 20 |
Stewart Morrison IV, Clifford Michael Seibert |
MD |
$795,125 |
Indictments. |
Justice.gov |
| Aug. 18 |
John Fisher, Tracey Balli, Justina Bryan, Delano McLennon |
FL |
$2,500,000 |
Guilty plea. |
FBI.gov |
| Aug. 18 |
Darrell Lynn Marriott, Kandace Marriott, Karen Hayes, Kally Marriott |
TX |
na |
28-year sentence for Darrell. |
Daily Sun |
| Aug. 17 |
Christopher Alan Stapleton, William Straub Jr., Warren Jay Knaust |
FL |
millions of dollars in proceedst |
Guilty verdict for Stapleton. |
Justice.gov |
| Aug. 17 |
Roberto Aguilera |
CA |
$55,000,00 |
Awaiting sentencing. |
UNION-TRIBUNE |
| Aug. 16 |
TENCY FRANCIS, 30 total. |
CA |
multiple properties |
Civil judgment against defendant affirmed by CA appeals court. |
Leagle.com |
| Aug. 16 |
John J. Wanek, Robert Swanigan |
OH |
$38,000,000 |
Guilty plea. Victims included Merrill Lynch Mortgage Lending. |
The Columbus Dispatch |
| Aug. 16 |
Erich Heckler, Brian Chili and Trinity Ruffino |
FL |
$4,000,000 |
Motion to stop co-defendants from testifying against Heckler denied. |
The News-Press |
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