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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 May 7, 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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May 4, 2010
Fraud Initiative Yields $350 Million in Mortgage Fraud Convictions
The U.S. Attorney’s Office Mortgage Fraud Strike Force has prosecuted more than 300 mortgage fraud defendants in cases involving around $350 million in fraudulent loans.
read announcement from U.S. Department of Justice
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May 3, 2010
MASS. Senate Passes Mortgage Fraud Bill
A bill that would make mortgage fraud a crime has made it through the Massachusetts Senate
read full story at 95.9 WATC-FM
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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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| Date |
Defendants |
State |
Amount |
Overview |
Source |
| May 7 |
Ruben Rojas, Lourdes Rojas Almanza, Litcia Linares, Grovert Rojas, Jaime Nino Rojas, Juan De La Cruz Aguayo |
VA |
$24,000,000 |
60-month sentence for Ruben Rojas. |
U.S. Department of Justice |
| May 6 |
DOUGLAS BALLARD, JOSEPH FOSTER, GUY MITCHELL |
GA |
$80,000,000 |
Indictement. |
FBI.gov |
| May 6 |
ELIZABETH SON |
MA |
2 properties |
Sentenced to supervised released. |
FBI.gov |
| May 5 |
Gelasio Alberto Diaz, Claudia Glaser, Nereida Ramos, Antonio Pinto, Emilia Fortes, Pura Machado Aguila, Carlos Orellana |
FL |
$5,000,000 |
Charges filed. |
Justice.gov |
| May 5 |
James O’Brien |
FL |
$593,750 |
Guilty plea by police sergeant. |
News-Press.com |
| May 5 |
Taleb Mahamed Wazwaz |
MN |
$1,900,000 |
Guilty plea. |
U.S. Department of Justice |
| May 5 |
Juan Calbara |
MN |
multiple loans |
Indictment. |
Pioneer Press |
| May 5 |
Calvin Townsend |
IL |
na |
Defendant in fraud case charged with looting fixtures from foreclosed homes. |
WBBM780.com |
| May 4 |
LEE |
OR |
$523,000 |
Indictment. |
Justice.gov |
| May 4 |
Michael Ramos, Paula Ramos |
FL |
losses between $7 mil and $20 mil |
Son sentenced to 63 months, mother sentenced to 51 months. |
U.S. Department of Justice |
| May 4 |
EDWARD WILLIAM FARLEY, WALTER JULIUS HERMANN |
GA |
$23,000,000 in losses. |
25-year sentence for Farley, 2-yr sentence for Hermann.. |
U.S. Department of Justice |
| May 3 |
Calvin Harris |
PA |
Losses of more than $400,000 |
Guilty plea. |
FBI.gov |
| May 3 |
Gerald James Greenfield, Nicholas Ryan Delon Smith |
MN |
$2,500,000 |
Guilty pleas. |
U.S. Department of Justice |
| May 1 |
Brianna Valle, Tony Ianne |
CO |
na |
Charges against Valle dismissed. |
Pueblo Chieftain |
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