home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News
twitter linkedin
facebook google+
Mortgage News

Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.

Mortgage Industry Fraud
send your comments or links
for possible publication


Fraud News Wire

Last Updated Thursday, February 1, 2007, 04:49 PM Texas Time

Crooked Lawyers

A former Kansas elected official who is in trouble along with her attorney husband for alleged mortgage fraud highlights the latest edition of Lawyers Gone Wild.

Katheryn Shields, 60, the former Jackson County executive and her husband, attorney Philip Cardarella, 59, have been indicted along with nine other people on federal charges of "conspiracy and wire fraud for their role in a scheme to engage in mortgage fraud," according to a statement from U.S. Attorney Bradley Schlozman.

"This case represents another tragic example of intelligent individuals -- including lawyers and prominent elected officials -- thumbing their noses at the law in the pursuit of quick and easy cash," said Schlozman, the U.S. Attorney for the Western District if Missouri in Kansas City.

The couple could not be reached to comment, but they have maintained their innocence in published reports.

MortgageDaily.com subscribers read Patrick's full story

Legislator Accused of Foreclosure Fraud

The Maryland Attorney General is looking into claims that a state legislator duped a woman into selling her home to him.

In a lawsuit filed in Anne Arundel County Circuit Court, Teresa Milligan accuses Maryland State Delegate William "Tony" McConkey, a Republican and a real estate broker, of foreclosure rescue fraud.

McConkey has denied Milligan's claims that he somehow tricked Milligan into singing over her house to him.

Kevin Enright, a spokesman for Maryland Attorney General J. Joseph Curran, confirmed to MortgageDaily.com that the attorney general's office is "looking into the matter."

MortgageDaily.com subscribers read Patrick's full story

February 1, 2007

Flipping Scam Lands 5 Sentences
A fraudulent flipping scheme involving distressed property landed Kristy N. Packer, Marcy Irby and Jafus Jones II probation terms ranging from five to three years and restitution to Countrywide Mortgage, and Phillip N. Weary and William Vaston Fairley prison sentences ranging from 7 to 19 months.

read story from the Hattiesburg American.

Lawyer Suspended for Inflated Property
Attorney Morris I. Olmer has been suspended from practicing law for his involvement in a real estate transaction in which the sales price of a property was inflated and proceeds generated were pocketed, and may be a case of mortgage fraud.

read story from the Connecticut Law Tribune .

Realtor's Fraud Conviction Appeal Unsuccessful
A federal appeals court upheld the conviction and sentence of Sally L. Gibson, a Realtor who led a $1.4 million mortgage fraud scam in which borrowers were promised $100 if Century Mortgage couldn't find and qualify them for a home purchase, but ultimately borrowers ended up in loans for properties with inflated values and with balloon payments and high interest rates.

read story from the Spokesman Review.

21 Accused of Mortgage Fraud
A grand jury charged 21 people connected to two cases of alleged mortgage fraud that included illegally acting as a real estate broker and appraiser, a false down payment, and inflating property value.

read story from the Plain Dealer .

Fraud Lands Woman Prison Sentence
Christa M. Eker was sentenced to five months in prison after admitting to cooperating in a scheme that 6 others have been sentenced for and in which false deeds and other documents were used to get title to properties and then use these as collateral to obtain more than $2.5 million in loans.

read story from the South Florida Sun-Sentinel.

January 31, 2007

3 Experts Discuss Fraud Growth
Frank McKenna, Kevin M. Cloyd and Dr. Raphael Bostic available to talk about increase in mortgage fraud

Patients' IDs Stolen for Mortgages
Four sentenced for bank fraud and aggravated identity theft

January 30, 2007

Licenses Lost
Mortgage fraud is at the heart of several mortgage license revocations spanning two states.

MortgageDaily.com subscribers read full story.

AVMs Reduce Fraud
Guaranteed automation value models can help reduce the risk of mortgage fraud.

read story from Newsday.

Fraud Detection Product Suite Launched
Features enhanced due diligence, put back review and trending analysis

Tool Detects Most Current Fraud
New Model Helps Mortgage Lenders Detect More Fraud at Low Review Rates

Mortgage Scam Suit Dismissed
A judge dismissed a lawsuit brought fourth by a couple, who allege a mortgage broker scammed them out of their home by keeping the money they would give him for the mortgage, because the couple failed to list the home as an asset in a bankruptcy filing shortly after the alleged scam.

read story from Newsday.

How to Avoid Fraudulent Online Loans
The Better Business Bureau advised consumers to watch out for fraudulent online lenders by keeping an eye on things such as being guaranteed a loan before an application is submitted or a company that has a Web site but refuses to provide a street address and a working telephone number.

read story from Mercury News.

January 29, 2007

Mortgage Fraud Closer to Being Felony
The bill that would make mortgage fraud a felony in Utah, with a potential prison sentence of 1 to 15 years, is closer to becoming a law, as the House approved it and now the Senate will consider it.

read story from the Daily Herald.

Mayor Candidate's Fraud Trial Scheduled
The trial for Kansas City, Mo., mayoral candidate Katheryn Shields, accused of trying to sell her home for about $0.5 million higher than its value, will begin in June.

read story from KSHB-TV.

Complaints Piled Up on Investigators
Even with more additions to the Minnesota Commerce Department's team of mortgage investigators, some still believe it will not be enough to handle all the mortgage-related complaints -- as just five investigators were each juggling an average of 210 open cases of consumer complaints at some point last fall.

read story from the San Francisco Examiner.

Foreclosure "Rescue" Becoming Common
Officials are warning of fraudulent foreclosure "rescue" help, which is becoming a common problem in line with the growing number of defaults borrowers are receiving, such as the 37,000 Californians that received such notices in the last quarter of 2006 alone -- the highest level in eight years.

read story from Tribune Interactive.

January 26, 2007

Mortgage Fraud Index Worsens
Overall mortgage risk was low in 2006, compared to previous years -- although fraud risk is on the rise.

MortgageDaily.com subscribers read full story..


read archived blog entries

  Patrick Crowley is fraud journalist for MortgageDaily.com and a reporter and columnist for The Cincinnati Enquirer.

Email Patrick at: PatCrowley@FraudBlogger.com
Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.

Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news