| |
|
|
|
|
Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
Free e-mail newsletter with the latest headlines from MortgageDaily.com.
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
|
|
|
|
|
|
|
March 6, 2009
Six people have been charged with a mortgage fraud scheme that involved more than 200 properties and about $15 million in mortgage loans. One of the defendants recently pleaded guilty to 21 federal charges.
A former mortgage broker was sentenced to four years in prison after pleading guilty to defrauding his customers by charging them extra fees.
A mother used her son to impersonate her husband to refinance the family home behind his back. The Ohio woman told the judge that she was on so many medications at the time that she couldn't even function.
A second defendant is appealing his seven-year sentence for his alleged participation in a $100 million mortgage fraud.
A fraud prevention solutions firm is taking its knowledge to advanced limits by airing news topics relating to mortgage fraud.
March 5, 2009
Four men have pleaded guilty to a $12.6 million mortgage fraud scheme that involved more than two dozen new construction homes. The kickbacks paid out in the straw buying scheme were as much as $125,000. Each defendant faces up to five years in prison with no chance of parole.
A 41-year-old Egyptian woman dubbed the "queen" of a multimillion-dollar mortgage fraud ring could be deported after serving a four-year sentence for three counts of engaging in a pattern of corrupt activity and five counts of money laundering.
Four people were indicted for their alleged participation in a $1 million mortgage fraud scheme that used a Web site to validate phony employment claims for borrowers.
A judge sentenced a straw buyer to only three years probation after acknowledging that the man had been manipulated into participating in the mortgage fraud scheme ran by his estranged daughter.
One of the alleged leaders in the commercial property fraud scheme has been busy building a reputation for mortgage fraud in another high-profile case out of New York.
March 4, 2009
The Federal Deposit Insurance Corporation chairman briefed the Attorneys General on the position it is taking with today's mortgage fraud epidemic. MortgageDaily.com took a closer look at the warnings the Chairman had for the Attorneys General and what the agency intends to pursue.
In an effort to squelch future mortgage fraud, one State representative has suggested a new measure for control.
A pair of alleged schemers promised investors they could as much as double their money within 60 days on commercial property investments, but they never invested the money. One of those accused is in federal custody for an unrelated subprime mortgage fraud case.
Three employees of a mortgage company allegedly wrote bad loans and had the mortgage brokerage owner sign-off on the loans, essentially holding him responsible for the mortgage fraud.
A man who posed as a mortgage broker was able to defraud enough people in Indiana to rack up about $2 million in fraudulent mortgage loans.
One state's Attorney General is calling attention to the improper influencing of mortgage appraisers by others who inform them upfront of what a property value should reflect.
A 63-year-old man has pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud, although, more than 200 fraudulent mortgages were funded during the multimillion-dollar mortgage fraud scheme.
March 3, 2009
A 46-year-old woman pleaded guilty for participating in a mortgage fraud scheme that involved securing mortgages on mobile homes and empty lots for unqualified borrowers. Three others are also guilty of participating in the scheme that also involved inflated property values.
A former loan officer was sentenced to five years in prison followed by five years supervised release. She must also pay over $91,000 in restitution for a mortgage fraud scheme that involved stealing identities and defrauding RBC Centura branches in Fayetteville and Lumberton, N.C.
Distressed properties in Indianapolis, bought at low prices and sold with inflated values, set the stage for a $1 million mortgage fraud scheme that duped investors and lenders alike.
Washington State has taken to the Internet to help expose fake mortgage brokers and others that are defrauding consumers.
A 40-year-old man pleaded guilty to three counts of engaging in a pattern of corrupt activity and five counts of money laundering in connection to a multimillion-dollar mortgage flipping scheme that involved several Ohio properties.
March 2, 2009
A 42-year-old man duped investors out of more than $9 million to pay for a luxurious lifestyle and fund a new mortgage company. He convinced investors their money was invested and making healthy returns; now he faces up to 80 years in prison and a $1 million fine.
A 62-year-old former loan officer who pleaded guilty reportedly demanded bribes in exchange for loan approvals. This accusation relates to a mortgage fraud scheme that allowed unqualified borrowers to purchase homes with zero down payment and has resulted in a dozen guilty pleas from residents of New Jersey including employees of two mortgage companies, an appraiser and a real estate agent.
A 69-year-old man was one of a dozen New Jersey residents to admit his role in a mortgage fraud scheme that flipped properties to unqualified borrowers. The scheme used fraudulent documentation to show down payments that were never made.
A 39-year-old man pleaded guilty to his role in a multimillion-dollar mortgage scheme after he and his wife were indicted on charges of mortgage fraud. The pair, along with others, paid straw buyers to purchase homes that had inflated sales prices. His wife is set to be sentenced May 8.
Two of six people accused of running a $15 million mortgage fraud scheme that involved 270 properties have been sentenced . One man will spend two years in prison and the other was sentenced to one year house arrest followed by five years probation.
An appraiser who based her defense on convincing the jury that appraisals are based on opinion was found guilty on nine counts of mortgage fraud.
A Florida resident, educator and attorney exposes the underbelly of South Florida mortgage fraud after discovering his taxes were increasing due to unscrupulous acts of fraud surrounding his rental home.
All the media surrounding mortgage fraud has everyone on alert. But if one looks closely, they will notice the majority of fraud happened prior to 2008. The fact that it is all being caught and reported now undoubtedly gives the impression that mortgage fraud is a heightening epidemic.
The man who pleaded guilty to participating in a $27 million mortgage fraud scheme leaves behind at least 18 homes that have defaulted. The Seattle Times takes an inside look at how he perpetrated the fraud over a period of at least a year.
|
|
|
|
read archived blog
entries
|
|
|
