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August 10, 2007
Woman Added to Mortgage Fraud Case
Judy Brumble is a new defendant in a $25
million mortgage fraud case in which she allegedly facilitated
the scam by acting as a real estate agent for home builder F.
Jeffrey Miller.
read story from Kansas City Business Journal
Another to Testify Against Councilwoman
Emanuel M. Kind has followed Ricky L. Hamilton
in admitting to collaborating in a mortgage fraud scam and
agreeing to testify against former councilwoman Sandra McFadden,
who is accused of lying about her income, down payment source,
and intended use of a property for a mortgage.
read story from Southeast Missourian
August 9, 2007
2 Accused of Mortgage Investment Scam
Michael Hershkowitz and Ivy Woolf-Turk were
arrested and charged with using development company Kingsland
Group Inc. to defraud investors of $27 million that was to be
used in apartment building renovations.
read story from NorthJersey.com
ID Thieves Possibly Hiding in ARMs
Mortgage-related identity theft is expected to
grow as many adjustable-rate mortgages reset and borrowers who
may have stolen identities to get such loans will likely default
and be discovered as creditors seek payments.
read story from Creditlock.com
IN Seeks Suspensions for 2 Appraisers
Indiana's attorney general requested 90-day
suspensions for the appraiser trainee license of Jennifer Marie
Lyons and the appraiser license of her father, Richard L. Roberts,
alleging they overvalued several houses in mortgage deals connected
to J.T. Real Estate Investments LLC.
read story from Chicago Tribune
Broker to Testify Against Ex-councilwoman
Mortgage broker Ricky L. Hamilton admitted he
collaborated in a mortgage fraud scam and will testify against
a former city councilwoman who allegedly lied on a mortgage
application about the property's intended use, her income and
down payment source.
read story from Southeast Missourian
Brokerage Suspends Agents Accused of Fraud
Prudential California Realty suspended two
top-producing real estate agents, Joseph Babajian and Kyle Grasso,
who along with two licensed appraisers were indicted for a mortgage
fraud scheme involving properties with inflated values.
read story from Los Angeles Times
August 8, 2007
Attorney Busted in Subprime Fraud Scheme
Three criminal cases in New York each involve
attorneys accused of mortgage-related crimes. One of the cases
involved at total of 26 people in a massive subprime mortgage
fraud scheme.
read story from MortgageDaily.com
Foreclosure Chronicle
Foreclosures are most likely to increase in
the Midwest, with nonprime loans originated last year just now
making their way to foreclosure. Fraud and collateral risk is
also rising amid increasing foreclosure stocks.
read story from MortgageDaily.com
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