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Last Updated Friday, March 27, 2009 10:00 PM Texas Time
 

April 3, 2009

Who's on First?

Law enforcement officials are finding that their mortgage fraud investigations are often overlapping and sometimes compromising their efforts. One Attorney General is seeking to get everyone on the same page.


Not Buying It

A jury convicted a 38-year-old attorney who said she was the victim in a mortgage fraud scheme, not a willing participant.


April 2, 2009

No Good Deeds

A developer is accused of selling options to purchase condominiums prior to construction to investors but instead of deeding the property to them he used straw buyers to strip the equity. The 48-year-old man was indicted in Brooklyn and faces up to 30 years in prison, if convicted.


Still Not Guilty

Four people charged in a an alleged $50 million mortgage fraud scheme maintain their innocence amidst evidence that includes of multiple foreclosures, a phony title history and a straw buyer who sold his credit for $10,000.


New York DAs Raise Hand

As mortgage fraud investigations rise, some cities are finding their resources stretched to the maximum.


Seniors Beware

An Attorney General is warning seniors of the dangers of mortgage fraud and what kinds of schemes to keep an eye out for.




Retain those Records

In an effort to make it easier to prosecute mortgage fraud, mortgage companies might be called on to save their records for a decade.


April 1, 2009

Too Busy to Notice Fraud

An attorney on trial for mortgage fraud said she was so busy doing 3,000 mortgage closings a month she wasn't even looking at what she was signing.


Stay a Little Longer

A woman who said she was the victim of mortgage fraud received a reprieve just days before her home was to be taken in foreclosure.


Out of State

Two men were arrested in Arizona in connection to a mortgage fraud case in Ohio. The allegedly ran a commercial loan scheme in Ohio through Arizona-based companies.


March 31, 2009

10 Down, 1 On the Run

Eleven people in South Florida have been accused of participating in a $4.7 million mortgage fraud scheme. Ten were arrested and one Miami resident is still at large. The scheme involved 13 fraudulent sale of six South Florida properties.


Broker Stole Socials

A 30-year-old man has been accused of stealing identities to support his lavish lifestyle, including a fraudulently obtained home in Sacramento, Calif.


Creative Appraising

A couple in Utah is accused of creating their own inflated appraisals using their own lavish home as a comp. in a mortgage fraud scheme.


Search Warrant Challenged

An attorney arrested for his alleged participation in a mortgage fraud scheme is challenging the validity of the search warrant used to raid his law office.


Due Diligence Out the Window

Perhaps if lenders had carefully reviewed many of the loans that were discovered to be fraudulent, many of the mortgage fraud schemes could have been stopped in their tracks, according to one editorial.


March 30, 2009

Metropolitan Money Scam

Joy Jackson pleaded guilty to the multimillion-dollar mortgage fraud scheme that paid for her lavish purchases and $800,000 wedding. Here are more details from the press release.


Living a Fraud

Two bills on the floor of the California Legislature could jeopardize mortgage fraud prevention efforts. These new laws could potentially allow a foreign identification document that the FBI has called unreliable to be used in mortgage transactions.


Buyer Beware

A real estate professional is who has been a mortgage fraud victim himself warning homebuyers and property managers of what to be on the lookout for in real estate transactions.


Scoring Points

Credit bureaus are seeking to revamp their systems and help prevent mortgage fraud all the while wooing mortgage lenders with their new models.




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