| |
|
|
|
|
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. |
|
|
|
Mortgage Fraud Archives
Week Ending April 9, 2010
|
|
|
|
|
Mortgage Fraud News
|
Case Activity
|
April 6, 2010
Service Predicts Fraud Before it Occurs
A new solution from Wolters Kluwer Financial Services helps "financial institutions predict and prevent financial crimes before they occur."
read announcement from Business Wire
Wells Fargo Implements Fraud Prevention Technology
Wells Fargo has implemented First American CoreLogic's LoanSafe Fraud Manager.
read full announcement at PRNewswire.com
|
April 1, 2010
Firm Loses FHA Approval Over Old Fraud Case
A 1982 mortgage fraud conviction by the owner of a Gorgia mortgage firm led to a denial for a Georgia license and of FHA approval
read full story at MortgageDaily.com
|
May 28, 2010
The Rise and Fall of Mortgage Fraud
During the middle part of the decade, the real estate market was on fire. As soon as an agent had a property listed -- multiple offers came in, ultimately leading to a quick sale above the listing price. This lasted for about four to five years, when unfortunately it all came crashing down.
The crash in the real estate market was mostly due to the fact that those who had bid on these homes had no real way of paying for them. They might have had a few months worth of cash on hand to hold the property, but the new home buyers figured that since prices were appreciating so rapidly that they would surely make a quick profit by selling the house in a few months.
The reason that so many buyers were able to secure financing was because of widespread mortgage fraud.
read full story
|
March 26, 2010
AZ Gets $1.7 mil for Mortgage Fraud
Another $1.7 million funds to fight mortgage fraud brings to nearly $8 million the amount distributed from a federal task force budget.
read story at The Arizona Republic
|
March 15, 2010
Mortgage Fraud Summit
U.S. Attorney General Eric Holder announced at a mortgage fraud summit that the U.S. Department of Justice is leading an effort to stomp out mortgage fraud.
read full announcement
|
March 15, 2010
SC Fraud "Staggering"
Former U.S. attorney for South Carolina, Reggie Lloyd, said mortgage fraud cases "are staggering right now."
read story from The Greenville News
Foreclosure Mortgage Fraud Rising
A new type of scheme has listing agents form separate partnerships buying foreclosed or short-sale properties from the banks at a huge discount and quickly sell at a big profit.
read story from Modesto Bee
|
March 10, 2010
Detecting Occupancy Fraud
FraudGUARD has been enhanced to detect occupancy fraud as a result of an increase in such schemes.
read full announcement
|
|
| Date |
Defendants |
State |
Amount |
Overview |
News
Publication |
| April 9 |
Vincent Wallace Aldridge, Tori Aldridge |
TX |
$3,700,000 |
Indictment. |
Justice.gov |
| April 9 |
Kelsey Torrey Hull, Jonathan Alfred Kimpson |
GA |
na |
Guilty pleas in reverse mortgage scheme. |
Atlanta Business Chronicle
FBI.gov
|
| April 8 |
Gail L. Mendez, Amy B. Strait, Carlos R. Solis, Marty G. Mendez, David H. Knickmeier |
WI |
$8,000,000 |
Charges expanded, informations filed. |
Justice.gov |
| April 8 |
Tula Rampersaud, Sudesh Rampersaud. Steven Boswell, Jong Shin |
NJ |
$1,000,000 |
3 plead guilty. |
FBI.gov |
| April 8 |
Akin Ayorinde, Anthony Onua, Umana Oton |
NY |
$10,000,000 |
Charges filed. |
New York Law Journal |
| April 8 |
Tyler Forrey |
FL |
$4,200,000 |
Guilty plea by Forrey. |
Cape Coral Daily Breeze |
| April 8 |
Antonious M. Iskander |
NC |
$204,797 |
Arrest. |
NewsObserver.com |
| April 7 |
Tye Brown |
NV |
restitution of $19,407 |
Guilty plea. |
Las Vegas Sun |
| April 7 |
Katherine Vidaurri aka Katherine Pulliam aka Katherine Padilla |
NM |
na |
2-year sentence. |
The Associated Press |
| April 7 |
Morton Bohn |
OR |
$288,171 |
Guilty plea. Defrauded Countrywide Financial Corp. and Silver Falls Bank. |
TradingMarkets |
| April 6 |
Bohn |
OR |
$763,200 |
12-month sentence. |
Justice.gov |
| April 6 |
Han |
OR |
$260,000 |
3-year sentence, but supervised released. |
Justice.gov |
| April 6 |
Wildor Washinton |
KS |
$14,000,000 |
16-year sentence. |
IRS.gov
KansasCity.com
Kansas City Business Journal
CJOnline.com
|
| April 6 |
Vicki Dillard Crowe, aka Vicki R. Dillard |
CO |
19 properties |
Indictment. |
PRNewswire.com
BizJournals.com
|
| April 6 |
Branch Banking and Trust Co. |
NC |
losses of $20,000,000 |
In employment lawsuit, BB&T accused of aiding in fraud scheme. |
MortgageDaily.com |
| April 6 |
Eric Rulack Farrington Jr., Janice Little Shepherd, Rejis Lamont Williams, Kevin Ray Sanderson, James Edward Jones, Edwin Terrence Bell, Micheal Lewis Andrews, Robert John Mason |
TX |
forfeiting $8,500,000 |
Conviction. |
Associated Press
Dallas Morning News
CourthouseNews.com
|
| April 5 |
Lorenzo Espinoza |
CA |
restitution of $614,000. 100 properties, $2 mil in HUD losses |
5-year sentence. HUD a victim. |
IRS.gov |
| April 3 |
Mark Anthony McBride aka "Charles Conley," "Charles Conley Jr.," "Manuel Evans" |
GA |
$2,197,929 in restitution |
16-year sentence for McBride. Case tied to failure of Omni Bank. |
FBI.gov |
| April 3 |
Robert Ernest Brandt |
WA |
losses of more than $7,000,000 |
Conviction. |
SeattlePI.com
The News Tribune
Washington RealEstateRama
|
archived case entries back to 2005
|
|
|
|
read archived blog
entries
|
|
|
