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

Sign Up for Free Mortgage Fraud Newsletter


 
 
twitter linkedin
facebook google+
Mortgage News

Search
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 Fraud Archives

Week Ending April 30, 2010

 

Mortgage Fraud News

Case Activity

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.
read full story
April 29, 2010


HUD OIG Creates New Region to Address Growing Fraud
CHICAGO -- Mortgage fraud in the Midwest has gotten so bad that the U.S. Department of Housing and Urban Development's watchdog had to break up the region.
read full story at MortgageDaily.com
April 26, 2010


Appraisal Fraud Leaps
Lenders have made significant headway reducing fraudulent deposit and employment verifications, but appraisal fraud is way up. One-quarter of all mortgage fraud activity occurred in just three metropolitan areas.
read full story from MortgageDaily.com


Mortgage Fraud Rises 7% in 2009
LexisNexis Mortgage Asset Research Institute reported that the rate of increase for mortgage fraud reports fell to 7 percent last year from 2008's 26 percent.
read full story from the Associated Press

April 23, 2010


Detroit Ranked 10th in SARs Filings
The number of Detroit residents named in Suspicious Activity Reports make the city the 10th worst.
read announcement frrom the Department of Justice

Michigan a Fraud Hot Spot
Michigan is ranked by the U.S. Department of the Treasury as the eighth worst state for mortgage fraud.
read full story from Michigan Public Radio
April 20, 2010


Closer Look at Mortgage Fraud
Article outlines how mortgage fraud works the motivation behind the players.
read full story from Investopedia

New Fraud Solution for Mortgage Lenders
Two mortgage fraud prevention service providers have a new offering for mortgage lenders.
read announcement from CoreLogic
April 16, 2010


Fraud Dogged WaMu to the End
Washington Mutual Inc. was never able to recover from its expansion at Long Beach Mortgage.
read story from Puget Sound Business Journal
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
Date Defendants State Amount Overview Source
April 30 Jakale S. Freeman FL $229,006 Information filed. Victims included Wells Fargo, N.A.; SunTrust Bank, Bank of America Justice.gov
April 30 Russell E. Krouse, Jason E. Davis, Harry L. Gongloff, Steven M. Taylor OH $710,000 in losses Informations filed. Victims were Aegis Funding Corp., New Century Mortgage U.S. Department of Justice
April 30 Kimberly Wilson, Michael Boyce, Beyond Wynn, Darlena Rogers, Drummell Coffey, Lawrence Calloway, Gerald Ford, Nafessah Walker, Travis Haynes, Antoinece Robin Boyd, Lavon Ruderson, Wesley D. Rahmon, Robert M. Wilkes Jr. OH $3,250,000 Indictments. U.S. Department of Justice
April 29 Christy Yamanaka FL $37,000 Information filed. Wells Fargo Bank, N.A., victim. Justice.gov
April 29 John Star NY $10,000,000 Defendant jumps bail. NBCNewYork.com
April 29 Michael Fiorito MN $500,000 in equity converted 23-year sentence. U.S. Department of Justice
April 29 Mark Kellogg, Beverly Cody OH $5,800,000 Guilty pleas. Sun News
April 28 SHAQUINTA REANNE GATES, SILVIA D. MCBRIDE AL $145,100 Indictments. Wells Fargo was victim. U.S. Department of Justice
April 27 Jeremy Richardson OR $20,000,000 37-month sentence. Justice.gov

IRS.gov

April 27 Rashaan Wilks IL multiple properties. Convicted. Pioneer Press
April 26 Brett Gibbs, Brett Depue NV restitution of $307,000, losses of $219,000 12-month sentence. U.S. Bank was victim. IRS.gov
April 26 Susan E. Newell, Edward L. Boler MN $2,800,000 3-year sentence for Newell. Star Tribune
April 24 MARK ANTHONY MCBRIDE aka Charles Conley aka Manuel Evans GA Restitution of $2,187,929 16-year sentence tied to Ommi National Bank failure. FBI.gov
April 24 Joseph John Pugliese, CA na Not guilty plea for former Countrywide employee. Marin Independent Journal

archived case entries back to 2005



read archived blog entries

 
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

MBS

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