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Mortgage Fraud Newswire

By COCO SALAZAR


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Last Updated Friday, August 17, 2007, 11:30 AM Texas Time
photo of Coco Salazar
 

August 17, 2007


Credit Monitoring and Identity Protection in One
A new product claims to be the first to combine credit file monitoring with technology that protects consumer data on personal computers from identity theft.




Woman Gets Probation for Mortgage Scam
After admitting to notarizing signatures of straw borrowers who did not appear to loan closings and closing a loan without being trained for the job, Kathy Frye received a five-year probation sentence.

read story from The Press-Register




Mortgage Fraud Song Gains Fans
A song in which creator Jon Vaughn makes fund of real estate fraud was intended to reach only the ears of friends and family, but it has hit radio airwaves and caused a stir amongst listeners.

read story from The Bakersfield Californian




Mortgage Broker Off the Hook
A probation sentence was issued to Angela Renee Williams-Buchanan, a broker who would have gone to prison if a mortgage deal in excess of a property's value wouldn't have been stopped by an FBI agent.

read story from St. Louis Post-Dispatch




Family Charged in ID, Mortgage Scam
Doris Toledo and her two daughters, Silvia Toledo and loan officer Sonia Toledo, were indicted on charges that they used Social Security numbers of dead people to get nearly $8 million in mortgages for illegal immigrants.

read story from News Channel 10




Broker Accused of Signature, Mortgage Fraud
A woman is suing broker E. Anthony Alfaro and JD Financial Mortgage Inc., claiming he allegedly forged her signature to refinance her home and pocket fees and extra mortgage proceeds.

read story from Gilroy Dispatch




Mortgage Fraud Suspect, Sex Offender Jailed
Joseph Gallo is back in prison after failing to register as a sex offender and remains under investigation for mortgage fraud.

read story from KCRA




Broker to Serve Time for Fraud
False documents used for $2 million in loans earned broker Toby Goss, who operated Consolidated Mortgage and Mississippi Mortgage, nearly three years in prison.

read story from WAPT




Ex-Loan Manager Accused of Fraud
A warrant has been issued for the arrest of Gregory Zgnoc, a former loan manager at Shaker Heights Credit Union recently charged with mortgage fraud and identity theft.

read story from The Sun Press




Ex-councilwoman Convicted of Fraud for Property
Former councilwoman Saundra McFadden-Weaver was found guilty of lying on a mortgage application by saying the home was for her when in reality it was for an acquaintance.

read story from News Channel 10




August 16, 2007


15 Accused of Fake IDs for Mortgages
Fifteen individuals were charged with producing fake documents, including driver's licenses and tax IDs, to obtain mortgage loans and credit cards that have caused at least $10 million in losses for financial institutions.

read story from 1010 Wins




August 13, 2007


Ex-Attorney Sentenced for Fraud
Former closing attorney Christopher Halcomb was sentenced to over three years in prison for allegedly inflating property values and submitting false borrower qualifying information to help Phillip E. Hill and others orchestrate a multimillion-dollar mortgage scam.

read story from Altanta Journal-Constitution




Investigated Broker Surrenders License
Mario Fellini is under federal investigation and surrendered his broker mortgage license after a TV news station uncovered how he and others at VFM Investment Group and Freedom Capitol Mortgage allegedly falsified applications for more than $9 million worth of mortgages.

read story from KCRA 3




Couple Accused of Flipping Scam
Thien Chi Vuong, a former Century 21 Su Casa agent, and his wife, Thanh Tuyen Tran, are accused of defrauding lenders through an alleged flipping scheme that involved purchasing homes and quickly refinancing them to collect high commissions and excess mortgage proceeds.

read story from Mercury News





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

e-mail: MortgageWriter@aol.com



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