twitter linkedin
facebook google+
Mortgage News

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

Mortgage Fraud Feedget RSS code
The latest case activity tracked by for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of entries going back to 2005.

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

Mortgage Fraud Archives

Week Ending June 10, 2011

Mortgage Fraud News

Case Activity

Feds Close In on $10 Million Memphis Scheme
June 10 -- Federal authorities are breaking up an alleged fraudulent ring in Memphis, Tenn., involving a real estate investor and appraiser. Properties that were bought at rock-bottom prices were allegedly appraised at much higher values and stripped of equity through cashout refinances funded by Taylor Bean and Whitaker Mortgage.

A federal judge this week ordered U.S. marshals to seize from three bank accounts more than $146,000 gained through a Midtown real estate scheme that a federal prosecutor described as fraudulent.

Asst. U.S. Atty. Christopher E. Cotten filed an affidavit in U.S. Dist. Judge Thomas Henderson's court spelling out the government's case for the civil action.
read full story at

Conference Addresses Emerging Fraud
June 10 -- As mortgage lenders have become more prudent about identifying signs of mortgage fraud, criminals have become more innovative in finding new ways to deceive them. A conference this week highlighted emerging schemes -- including short-sale fraud and closing agents who are absconding with lender funds.
read full story at
(subscription required)
Former Police Commissioner Sentenced to 5 Years
June 9 -- A real estate appraiser, who was also a former police commissioner, has been sentenced to prison in a case involving $10 million in fraudulent mortgages.
read full story at
FDIC Sues Mortgage Broker
June 7 -- A California mortgage broker that allegedly submitted $2.4 million in fraudulent loans to Downey Savings and Loan Association, F.A., before it failed has been sued by the Federal Deposit Insurance Corp. While the broker operated as a corporation, the FDIC hopes to break the corporate veil and go directly after the owner.
read full story at
(subscription required)
CoreLogic Hosts Mortgage Fraud Consortium Members Meeting June 7-9 in Atlanta
June 7 -- CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced the commencement of its CoreLogic Mortgage Fraud Consortium members' meeting today through June 9 in Atlanta, Georgia.
read full press release at
Judge Goes Overboard in Sentencing
June 7 -- A Minnesota appeals court has ruled that a judge who handed down a worse sentence than sought by prosecutors went too far with a 10-year sentence in a $3.2 million mortgage fraud case.
read full story at
Former Police Commissioner Asks for Reduced Sentence
June 6 -- A real estate appraiser who was also a former police commissioner is asking for less time in prison based on his contributions to his community and country. At least $3 million in losses were incured on government-insured mortgages as a result of the alleged fraud.
read full story at
Lenders Growing Concerned About Quick Flips
June 6 -- Investors who secure a short-sale approval from a lender sometimes have buyers lined up for the property before they ever take title. But these type of transactions have some lenders worried.
read full story at
Credit Union LO Indicted
June 6 -- Two mortgage brokers and an appraiser are accused of conspiring with a credit union loan originator to process more than $3 million in fraudulent mortgages.
read full story at
Date Defendants State Amount of Loans Overview Source
Jun 10 Victoria Sprouse NC $15,000,000 Judge orders new trial.
Jun 10 Matthew Tucker MO $2,700,000 Sentenced to 5 years. Department of Justice
Jun 10 Jimmy Leslie, Alan Price, Michael Pinkney, Larry C. Jones TN Approximately $2,100,000 Accused, but no charges filed yet.
Jun 9 Douglas Brandewie MI $10,000,000 Indicted. Department of Justice
Jun 9 Jennifer Venable, Nicolas Cooper, Jeremy Richardson, Andrew Paul Shute, Tyler Jacob Marsten OR $35,000,000 Sentences: Venable 5 years probation and $15,000 restitution; Cooper 5 years probation and $102,058 restitution; Richardson 37 months; Shute 5 years probation and $61,332; Marsten 5 years probation and $39,549 restitution. Department of Justice
Jun 9 Dorothy Rodriguez, Bryan A. Pool, Annita Hawes FL $630,000 Guilty pleas from Rodriguez and Hawes. Pool pleaded Not Guilty. Department of Justice
Jun 9 Rich Bobka (14 total) FL $47,000,000 Indicted.
Jun 9 Melvin Hullett, Antonio Lewis GA $27,768.53 in restitution Sentences: Hullett 6 months plus 66 months probation; Lewis 5 years probation. Department of Law
Jun 9 Travis Soule MN $200,000 Indicted.
Jun 9 Mark Calhoun, J. Larry Kennedy, Keith Kennedy MS $10,000,000 Sentences: Calhoun 16 years 8 months; J. Kennedy 5 years; Keith Kennedy 6 years. Department of Justice
Jun 8 Willie Jones Jr., April Calhoun MS $10,000,000 Sentences: Jones 3 years; Calhoun 6 months house arrest.
Jun 8 Anthony O. Buford, Jolie O. Neal OH $2,780,000 Judge accepts guilty plea.
Jun 7 Thomas Gallagher CT $4,000,000 Sentenced to 60 months prison, 3 years supervised release. Department of Justice
Jun 7 Cheddi Goberdhan NY $23,000,000 Sentenced to 5 years prison, 3 years supervised release, and $4,698,500 in restitution. Department of Justice
Jun 7 Marlon Terrell Pratt MN $3,200,000 Appeals court rules in favor of re-sentencing.
Jun 6 Gayle Tracy, Brent Bickhaus, Richard Simmons, Lorenzo Crooks, Frances McCormick, Catherine Denwood, Mark Schwarzbach IL Multiple properties Arraignments.

archived case entries back to 2005

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

Copyright © 2014 Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources ( 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


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