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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. |
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Mortgage Fraud Archives
Week Ending April 30, 2010
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Mortgage Fraud News
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Case Activity
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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
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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
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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
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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
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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
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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
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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
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| 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
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| 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 |
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