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May 1, 2009
Seven people in Indiana have been charged with mortgage-fraud related crimes that included the origination of over 200 fraudulent loans that were submitted to Argent Mortgage, People's Choice Mortgage, aka Countrywide Home Loans and The Money Station.
A 45-year-old California woman was convicted on mortgage fraud related charges after acting as a straw borrower and pocketing more than $1 million in the scheme. She also falsely obtained a personal mortgage loan in the amount of $526,500. She faces up to 60 years in federal prison.
The Colorado Attorney General has filed a complaint against a real estate company and its co-owners for victimizing Latinos with limited-English speaking skills in a mortgage fraud scheme.
Bipartisan legislation intended to strengthen the government's role in mortgage fraud prosecution is receiving rave reviews from the Senate.
A husband and wife have been arrested on charges they defrauded fellow church members and lenders in a $33 million mortgage fraud scheme.
April 29, 2009
Forensic and fraud experts are taking the stage in the Third Annual Fraud and Forensic Accounting Education Conference in Atlanta May 28-30. Assistant U.S. Attorney Barbara Nelan will discuss the federal prosecution of mortgage fraud nationwide.
A New York lender and its president have been permanently banned from originating government-backed loans after being accused of defrauding the U.S. Department of Housing and Urban Development, MortgageDaily.com reported.
An Ohio appraiser who artificially inflated an appraisal, failed to disclose known violations and a relevant business relationship to the property appraised is to be sentenced today.
The Alabama Senate unanimously agreed to approve a bill that would make mortgage fraud a crime.
A Southern Senator is announcing his support for the new Fraud Enforcement and Recovery Act of 2009.
A St. Petersburg man has been sentenced again for fraud, this time mortgage fraud. He has been ordered to pay over $2 million in restitution and almost $6 million in fines after leaving a long trail of deceit and mortgage fraud.
April 28, 2009
Almost a half-billion dollars will be poured into helping fight mortgage fraud and other related crimes thanks to an overwhelming majority approval of new legislation today.
Officials from Missouri and Kansas are aiming to head-off increasing mortgage fraud with new legislation to toughen the federal mortgage fraud laws.
The impact of mortgage fraud has long-term lasting effects, according to a university assistant professor whose research is to be published later this year.
The U.S. Senate is voting on new legislation that would make prosecuting mortgage fraud easier.
April 27, 2009
Mortgage fraud incidence has doubled over the last year, however, it has taken a serious dip from the last quarter's activity, according to the FraudBlogger Index published by MortgageDaily.com. The mortgage trade publication found surprising results in the tracking of $1.5 billion in mortgage fraud cases.
Five people are facing charges related to mortgage fraud after prosecutors busted what appears to be a Ponzi scheme involving more than 1,000 victims.
Using straw buyers, artificially inflated appraisals and bankruptcy fraud, a Georgia man was able to swindle millions of dollars shortly after being released from prison for mortgage fraud. He now faces up to 35 years in prison and a fine of up to $1.3 million.
An appraiser found guilty of falsely inflating the value of homes in a multimillion-dollar mortgage fraud scheme appealed her conviction citing trial-errors made by the judge.
Authorities in a major Metropolitan city are encouraging citizens to report suspected mortgage fraud activity.
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