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Mortgage Fraud Archives
Week Ending Feb. 26, 2010
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Mortgage Fraud News
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Case Activity
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Feb. 26, 2010
Mortgage Fraud Summit
A new fraud task force in Merced, Calif., has 20 active investigations going.
read story from Merced Sun Star
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Feb. 24, 2010
Mortgage Fraud Summit
The first of several events focusing on mortgage fraud was attended today by the U.S. Department of Justice, bank representatives and mortgage lenders.
read story from MortgageDaily.com
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Feb. 22, 2010
Fraud Prevention Guide Updated
The Federal Financial Institutions Examination Council issued an updated mortgage fraud prevention guide to help examiners understand, identify and detect mortgage fraud schemes.
read story from Bank Info Security
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Feb. 19, 2010
NY Officials Kick Off Mortgage Fraud Campaign
New York Mayor Bloomberg joined other city officials launched a campaign to combat mortgage fraud.
read story from New York Daily News
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Feb. 18, 2010
Risk of Valuation Fraud Skyrockets in CA Areas
The risk of mortgage fraud is higher in several areas of California than any other metropolitan areas of the country -- pushing the risk of fraud in the Golden State higher than in any other state. In fact, the risk of property valuation fraud has more than tripled in four California areas -- the worst in the country.
read story from MortgageDaily.com
Legislation Would Require ID Verification
U.S. Rep. Kenny Marchant (R-Texas) introduced the Mortgage E-Verify Act, which would require that the Department of Homeland Security's E-Verify program be used on agency loans to prevent illegal aliens from committing mortgage fraud.
read story from About.com
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Feb. 16, 2010
Financial Institutions Face Significant Mortgage Fraud Losses
A report from the Federal Financial Institutions Examination Council said mortgage fraud schemes have significantly inreased -- leaving U.S. financial institutions facing more losses.
read story from Dow Jones Newswires
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Feb. 15, 2010
Sen. Warns About IL Mortgage Fraud
Illinois Sen. Dale Risinger (R-Ill.) announced that his state has become a hotspot for mortgage fraud as a greater number of banks reject mortgage refinance applications.
read story from Bureau County Republican
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| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| Feb. 25 |
Reginald Robinson, Kasmir Billon |
CA |
scheme |
Murder trial begins where one mortgage fraud defendant accused of killing another. |
Contra Costa Times |
| Feb. 25 |
ERIC KOPPELMAN, IRSHAD RAMZAN |
NY |
$6,000,000 |
Guilty pleas. |
LawFuel.com
Empire State News
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| Feb. 25 |
Kyle Grasso, Joseph Babajian |
CA |
$40,000,000 |
Sentencing scheduled. |
Beverly Hills Courier
KPCC Wire Services
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| Feb. 25 |
Robert Capehart |
VA |
$2,000,000 |
Guilty plea. |
Associated Press
LoanSafe.org
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| Feb. 25 |
Roxanne Saunders Gilliland |
AL |
single loan. |
Guilty plea. |
The Gadsden Times |
| Feb. 25 |
Stephen M. Gunther |
VA |
$1,000,000 |
Charges filed. |
The Virginian-Pilot |
| Feb. 24 |
Shaheid Bilal, Rhonda Payne, Richard Britt |
NJ |
$3,000,000 |
Indictment filed. |
New Jersey Real-Time News |
| Feb. 24 |
Michael Hicks, Michael Lee |
MA |
5 properties |
42-month sentence. |
The Patriot Ledger |
| Feb. 24 |
Wayne Marlon Benedic Lezama |
VA |
$4,000,000 |
5-year sentence. |
Associated Press |
| Feb. 24 |
Marcus Williams, Kimberly Anderson, Scott Peters |
CO |
23 counts |
Indictments. |
Denver Post
Denver Business Journal
CSBJ.com
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| Feb. 23 |
Michael Hicks |
MA |
losses of $1,000,000 |
42-month sentence. |
IRS.gov |
| Feb. 23 |
Christie J. McGougan |
SC |
multiple transactions |
Guilty plea. |
The State |
| Feb. 23 |
Michael Ohayon, David Papera |
CA |
$19,000,000 |
Indictments. |
THE STAR |
| Feb. 23 |
Lynn Anne Ingle |
TX |
HUD losses of $964,814 on 21 loans |
3.5-year sentence. |
Fort Worth Star-Telegram |
| Feb. 23 |
Chris Nero, Roy Fife |
AZ |
27 fake loans |
Guilty plea. |
Arizona Daily Star |
| Feb. 23 |
Calway William Cauley, William Ervin, Ladon McClellan, Joyce Wilturner, Truemeatra Warner |
CA |
scheme |
Conviction. |
Las Vegas Now |
| Feb. 22 |
Jason Jester, Randy Carretta |
PA |
scheme |
Sentence of probation and home detention. |
The Tribune-Review
Pennsylvania RealEstateRama
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