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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.
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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 July 2, 2010
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Mortgage Fraud News
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Case Activity
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June 18, 2010
86 South Florida Defendants Charged
Since March 1, federal charges have been filed against 86 people in South Florida for mortgage fraud.
read full story at Miami Herald
The $2 Billion Mortgage Fraud Sting
More than a thousand defendants who helped close more than $2 billion in fraudulent mortgages have been charged as part of a federal crackdown. Among the defendants were many who are mortgage brokers.
read full story at MortgageDaily.com
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June 17, 2010
DOJ in NC Creates Task Force
A mortgage fraud task forces has been created by the U.S. Attorney’s Office for the Eastern District of North Carolina.
read article at Triangle Business Journal
FBI Opposes HUD Rule
In its annual mortgage fraud report, the FBI said that it opposes HUD's waiver of the FHA 90-day property flip rule because illegal schemes usually happen within a 90-day period.
read full story at MortgageDaily.com
1,215 Charged with Mortgage Fraud
Operation Stolen Dreams has netted 1,215 defendants of which 485 have been arrested since March 1. Mortgage lenders had losses of more than $2.3 billion from the related cases, while $147 million has been recovered and 191 civil cases have been filed.
read full announcement at Justice.gov
25 Defendants Charged in Eastern Michigan
Between March 1 and June 17, 25 individual have been charged with mortgage fraud, 10 have pleaded guilty and 11 have been sentenced. The actions are the result of Operation Stolen Dreams.
read full announcement at FBI.gov
Mortgage Fraud Rose and Getting Worse
An annual report from the government indicates mortgage fraud continued to increase last year, is even worse this year and is expected to deteriorate further. Areas of rising concern are schemes tied to reverse mortgages, commercial mortgages and distressed mortgages.
read full story at MortgageDaily.com
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June 8, 2010
Valuation Fraud a Growing Problem
A spike in the risk of appraisal fraud has pushed the overall risk of mortgage fraud higher, according to the latest quarterly index. Five states were identified as potential problem spots for mortgage lenders. Chances that a borrower is lying about occupying a property, however, have declined.
read full story at MortgageDaily.com
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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 27, 2010
Miami-Dade Fraud Unit Launched
Miami-Dade State Attorney Katherine Fernandez Rundle announced the launch of a mortgage fraud unit to fight mortgage related crimes.
read announcement at MiamiSao.com
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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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| Date |
Defendants |
State |
Amount |
Overview |
Source |
| July 2 |
Orpel Tucker, also known as Orpel Sanders; Tania Firmani |
DC |
20 houses, losses exceeded $1,600,000 |
Indictments. HUD was victim. |
FBI.gov |
| July 2 |
Michelle Minikus f/k/a Michelle Mediavilla-Camacho, Donald Lee, Stephnine Jean, Judith Clemow, Lise Bessette, Brandi Brown, Wesley Grant, Wonder Ragin Knowles, Magaly Rosa, Ofelia Torres, Oliver Gayle, Keturah Ferguson, Jorge Villanueva, George Powers, Elijah Cupid, Eileen Andy Hill, Fitzroy Clarke, Daisy Rubio |
FL |
$8,000,000 |
Arrests. |
fdle.state.fl.us
Miami Herald
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| July 2 |
Damarys Llorca |
FL |
$615,000 |
Aquitted. |
MarcoNews.com |
| July 1 |
Christopher Stovall, Megan Balod, Leslie Sluga, Kevin Sluga, Jerald Teixeira |
CA |
$2,479,290 |
Guilty plea by Stovall. Victims included Long Beach Mortgage Co., Kirkwood Financial Corp., Wells Fargo Home Mortgage, SunTrust Mortgage Inc., and Fremont Investment & Loan, |
FBI.gov |
| June 30 |
Marie Decosta Quintana |
FL |
losses of $1,100,000 |
Charges filed. Victims included Bank of America, National City Bank. |
FBI.gov |
| June 30 |
Albert Terrance Watkins |
TX |
$10,000,000 |
Guilty plea. |
Justice.gov |
| June 30 |
Joseph Guaracino, Steven Stoll, Stephen Orchard, Matthew Gulla, Rene Rodriguez Jr., Dennis Guaracino Jr., Jacqueline Trumbore, John Velez, Daryl Radziwon, Casey Mittauer, Joseph DeRosa, Robert DePriest, Joseph LaGrasta |
FL |
$16,000,000 |
Indictments. |
FBI.gov |
| June 29 |
Connie Salas, 2 other defendants |
NY |
$12,200,000 |
Defendants surrender. |
Newsday |
| June 29 |
Thomas Gregory Alexander, Paul Patrick Alexander, Bobbie Jo Johnson, Sandra M. Stevens, Kara Elizabeth Shumway, Michael S. Mason, Michael Joseph Harris |
AZ |
scheme |
Indictments. Mesa Bank was victim. |
IRS Announcement at MortgageDaily.com |
| June 29 |
Adrian Levale Cole, 2 co-defendants |
TX |
$10,000,000 |
Guilty plea. |
Justice.gov |
| June 28 |
Richard Ceniseroz, 14 total |
CA |
$35,000,000 |
Arrest. |
Ventura County Star |
| June 28 |
Diego Rodriguez, Darnell Mason, Justin Zhu |
TX |
$1,900,000 |
Rodriguez pleads guilty. |
Express-News |
| June 28 |
Ryan O'Brien, Stephen Petrovich |
FL |
$4,200,000 |
15-month sentence. |
news-press.com |
archived case entries back to 2005
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