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Week Ending March 5, 2010


Mortgage Fraud News

Case Activity

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
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
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
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
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
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
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
Date Defendants State Amount Overview News
March 5 Frederick Earle Deen, Taylor Trump MN $20,000,000 24-month sentence. Pioneer Press
March 5 Hector L. Rivera FL multi transactions. 8-year sentence. Taylor, Bean Whitaker Mortgage Corp. victimized. Ocala.com
March 4 John Lewis IL $3,700,000 Indictment. FBI.gov
March 4 Jonathan Alfred Kimpson, Kelsey Torrey Hull, Gia Harris GA na Indictements in reverse mortgage case. Atlanta Business Chronicle
March 4 Guadalupe Ramirez, Augustine Ramirez CA $4,100,000 Charges filed. Californian
March 3 Thomas John Hunter, Frederick Earle Deen, Taylor Trump MN $20,000,000 Guilty plea. Star Tribune
March 3 Troy Bossert, Tyler Forrey, Ryan O'Brien, Stephen Petrovich, Steven Reese FL $4,215,623 Guilty pleas. Victims include JP Morgan Chase, Bank United, Southpointe Financial Services and Georgia Banking Co. NBC-2.com



March 3 Mark Calhoun, J. Larry Kennedy, and Keith Kennedy, April Calhoun, Willie Jones MS $9,000,000 Trial begins. Clarion Ledger
March 3 Mark Strodtman, Dean Juhl, Flora Carmona, Charles Brandt, Jessica Feliciano-Brandt CO na Ruling against defendants in civil rights case. Greeley Tribune
March 2 Brian Steptoe, Natasha Steptoe, John R. Thompson GA $401,600 Indictments. Bank of America was lender. The Forest Blade
March 1 Eric Jason Sunsdahl, MN $726,210 2-year sentence. Thisweek Newspapers
March 1 na FL 1 2nd mortgage Charles Woodward claimed his signature was forged on a Bank of America 2nd mortgage. NBC-2.com
March 1 Barry C. Westergom, Juan Carlos Gonzalez FL $29,272,000 4-year sentence. EthiopianReview.com
Feb. 28 Ishwardat (Danny) Raghunath, Halal Ahmed, Phyllis Seemongal NY $7,000,000 Defendant became fugitive. New York Daily News

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