home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News
twitter linkedin
facebook google+
Mortgage News

Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.


Mortgage Industry Fraud
news and insights

Archives April 16, 2006


Fraud Stories From
Patrick Crowley
Fraud Wire

Investors Force Mortgage Co. Into Bankruptcy
A family that invested $4 million in a mortgage brokerage firm that finances nontraditional loans has forced the firm into bankruptcy amid allegations of a Ponzi scheme.

The U.S. Bankruptcy Court for the Northern District of California has ruled in favor of appointing trustees to oversee operations of the San Jose-based California Plan Inc. The firm's president, Michael J. Schneider, is named in the ruling, which effectively forced California Plan into Chapter 11 bankruptcy.

According to federal court documents, Schneider allegedly bilked members of the affluent Aspromonte family of Santa Cruz by telling them he would invest money in high risk mortgage loans that were secured by property. He would then collect fees from servicing the loans.

But Schneider then allegedly did not invest the money as he promised and instead converted the money for his own use.

read the rest of Patrick's story at MortgageDaily.com
(subscription required)

Pair Arrested for Stealing Titles
Police in California recently ended a six-month investigation with the arrest of the owners of two California mortgage companies. The men are accused of forging mortgage documents and notary seals to steal equity from homeowners.

Sacramento police have announced the arrest John Wilfred Curley, 37, owner of JC Lending, and Muhammad Adenwala, 30, owner of Mountain View Lending and a certified notary public, on suspicion of real estate fraud.

"Investigators determined that Curley and Adenwala utilized information from customers to falsify quitclaim deeds," Sacramento Police said in a statement. "The suspects, without the customers' knowledge, would record the forged documents and obtain loan proceeds from the false information."

Police say they aren't sure how many people were victimized by the alleged scam.

read the rest of Patrick's story from MortgageDaily.com .
(subscription required)

April 14, 2006

Broker, 2 Builders Get Off Easy for Fraud Scam
Mortgage broker Rose Perdue and builders Steven Parisi and Donald Kishbaugh were each sentenced only to probation for forging signatures and documents and inflating home prices on transactions with 41 Poconos borrowers.
read story from the Pocono Record .

Bill Targets Foreclosure Scam Co.s
The Illinois senate has passed a bill that will help delinquent borrowers back out of bailout deals from foreclosure scam companies.
read story from the Chicago Tribune .

Mortgage Prospect Data Stolen
Neal Elbaum and Ralph Donza, former employees of Old Merchants Mortgage Inc., and current employee Carlos Orellano have been arrested in connection with a theft of mortgage lead information from Old Merchants which were then used for Elbaum's & Donza's own mortgage company, Old Commonwealth Mortgage LLC.
read story from the North County Gazette .

April 10, 2006

The Other Side of Fraud
DALLAS, (April 10) When the FBI accused Fred Damaia of mortgage fraud, his life was turned upside down.

Homeless Man Died Owning Several Properties
Matthew Cox, a mortgage fraud fugitive that has evaded law enforcement officials as he has criss crossed the country, used the identification of Johnny Moon Sr. -- a homeless drug addict that has since died -- to purchase more than a half-million dollars worth of real estate.
read story from the St. Petersburg Times .

read full coverage of Matthew Cox at MortgageDaily.com .

Fraud Soaring
Mortgage fraud has become one of the fastest-growing white-collar crimes.
read story from MarketWatch .

Mother, Son Indicted
Eric Kendall Taylor and his mother, Doris J. Taylor, were indicted for using straw buyer to purchase foreclosed properties in a $5 million fraud scheme.
read story from The Kansas City Star .

Employment Fraud
Marcy Irby has pleaded guilty to helping Richard Lucas and eight other defendants by falsifying her income and job information on her loan application.
read story from the Mississippi Business Journal .

Patrick Crowley is fraud journalist for MortgageDaily.com and a reporter and columnist for The Cincinnati Enquirer.

Email Patrick at: PatCrowley@FraudBlogger.com
Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.

Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news