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May 29, 2009
A New Jersey defense attorney has been named the central figure in a 14-count indictment with three others who are accused of racketeering, murder and $1.1 million in mortgage fraud.
MortgageDashboard has integrated Interthinx's fraud prevention system in an effort to detect possible fraudulent activity at the origination stage. Hoping to bolster efforts to prevent mortgage fraud, FraudGUARD measures and scores fraud risk using multiple data sources.
Thirteen New Yorkers found themselves indicted on charges of participating in a complex mortgage fraud scheme that involved Long Island and New York City properties. Ten of the defendants were arrested, two surrendered and one is still at large.
A Dallas-area $14 million mortgage fraud scheme ended with the indictment of eight people. The defendants were accused of using straw buyers to purchase luxury homes at artificially inflated values.
A California police officer has been placed on administrative leave after being accused of committing mortgage fraud by lying about his income and residency his mortgage loan applications.
May 28, 2009
A 33-year-old woman admitted to participating in a mortgage fraud scheme while operating a mortgage broker business.
A home foreclosure rescue fraud scheme could send one man to prison for up to 125 years now that he has been found guilty by a jury of his peers.
May 27, 2009
A 51-year-old woman was indicted on one count of wire fraud conspiracy relating to a mortgage fraud scheme. Along with others, she allegedly submitted false information in order to secure mortgage loans for borrowers who would otherwise not qualify.
A couple suspected of running a multimillion-dollar mortgage fraud scheme violated the terms of their bail, which is sending the husband back to jail and the wife to be detained at home with electronic monitoring.
After allegedly learning he was wanted by the FBI from Internet media, a mortgage company owner staying in Dubai voluntarily returned to Chicago to surrender.
An appraiser with suspicious ties to a developer who has fled the country has been indicted for defrauding Flagstar Bank and five other lenders.
May 26, 2009
The central figure surrounding a mortgage fraud scheme that cost lenders more than $1 million has pleaded guilty. The 42-year-old man faces up to 25 years in prison and up to $500,000 in fines for both a wire fraud charge and conspiracy charge. Sentence hearing is set for August 20, 2009.
Prosecutors said a Garden City, N.Y. loan officer inflated income and forged property appraisals to order to secure higher loan amounts, then pocketed about $500,000 from the fraud scheme.
The FBI announced it will be using, in its undercover operations, wiretaps and computer technology to obtain evidence in mortgage fraud crimes.
May 22, 2009
Four people arrested on charges of bank fraud and money laundering have agreed to post a $20,000 bond in exchange for their freedom. But, even a traffic ticket could send them right back into federal custody.
A Florida lawyer convicted of mortgage fraud is facing yet again the possibility of losing his law license as the Supreme Court is set to hear his case.
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