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Last Updated Friday, June 29, 2007, 4:49 PM Texas Time
photo of Coco Salazar

June 29, 2007

Course Creates Specialists Against ID Fraud
Identity theft risk management training and certification course available.

Fraud Research Off
Experts are finding fault in research that ranked Enid, Okla., second in the nation in potential mortgage fraud involving subprime loans.

read story from Enid News

Man Admits Mortgage Fraud Role
Michael Rodd pleaded guilty to conspiring in an alleged mortgage fraud scheme involving the sale of former Jackson County Executive Katheryn Shield's home.

read story from the Kansas City Business Journal

RE Agents to Lose License
Stonewood Consulting Inc. and its broker, Hendrix Moreno Montecastro, will forfeit their real estate licenses after accusations that they used inflated appraisals to get commissions off of fraudulently-obtained mortgages intended for investor homes.

read story from Press-Enterprise

Unlicensed Loan Impostor Strikes
Kentucky banking regulators warned that Kentucky Title Loans Inc., which is not licensed as a mortgage broker or lender, appears to be defrauding consumers by requiring an upfront payment on offerings of mortgage loans.

read story from the Business First of Louisville

Dozen Charged in Mortgage Scam
Twelve individuals in Ohio are facing criminal charges for participating in a scam that used false identities and paperwork to steal about $2 million from mortgage brokers.

read story from NBC 4

Man Gets 10 for Fraud
Ishmael Grant was sentenced to 10 year for being involved in a mortgage fraud and identity theft ring that used stolen IDs to obtain more $10 million in home loans.

read story from the South Florida Sun-Sentinel

June 27, 2007

States Tackle Fraud with Legislation
Several states -- including the mortgage fraud hotbeds of Florida and Georgia -- have toughened mortgage laws in efforts to continue crackdowns on mortgage fraud.

read story from MortgageDaily.com

FHA Violators Settle with HUD
The U.S. Department of Housing and Urban Development is touting hundreds of
thousands of dollars in settlements it has extracted from originators of
government-insured loans over mortgage fraud and other operational issues.

read story from MortgageDaily.com

Man Indicted on Mortgage Fraud
Within the 14 felonies George M. Riley Sr. was indicted on, is one in connection to defrauding Manhattan Mortgage Co. of over $100,000 through misrepresenting facts for a residential mortgage.

read story from the Newspaper Network of Central Ohio

Developer's Money for Protection
Homebuilder Gene Percudani will pay $250,000 that will be used for consumer protection campaigns, but the borrowers he is accused of defrauding through deceptive ads and appraisals will not get restitution.

read story from The Philadelphia Enquirer

June 26, 2007

Anti-money Laundering Initiative Begins
FinCEN to adopt new examination for community banks on anti-money laundering.

Free Credit Monitoring Service Launched
Company partners with Experian Consumer Direct to help protect its customers from identity theft.

Appraiser to Contest Suspension
Julie M. O'Gorman, president and owner of Front Range Real Estate Consultants, will fight the license suspension Colorado regulators imposed for allegedly overvaluing properties.

read story from The Tribune

Ex-investment Chief Gets Sentence
Maurice Bethea, former chief of investment firm Alexis Enterprises, received an 18-year prison sentence for allegedly using investor money to buy land through fraudulent mortgage applications.

read story from the Charlotte Observer

Poor Originator Regulation Fuels Inflated Values
Appraisers blame poor regulation of mortgage brokers and lenders for the pressure they receive to inflate home values in order to keep getting business.

read story from Yahoo! Finance

June 25, 2007

Man Gets Mortgage with Rented ID
A domestic battery complaint led police to discover that Joel Garibay-Urbina obtained a job and a mortgage through a birth certificate he rented for $800.

read story from KSFM 5

Mortgage Troubles Solved, Rewarded
Anna Marks will soon be sentenced to prison after using the mortgage money of her elderly aunt for gambling -- but the aunt and the agency that tipped off Wells Fargo Home Mortgage to the scam were rewarded.

read story from News 25

Coco Salazar is an associate editor and staff writer for MortgageDaily.com.

e-mail: MortgageWriter@aol.com

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