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

Sign Up for Free Mortgage Fraud Newsletter


 
 
twitter linkedin
facebook google+
Mortgage News

Search
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 MortgageDaily.com.

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

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.

Mortgage Fraud Newswire


send your comments or links


Last Updated Friday, September 5, 2008 10:00 PM Texas Time
 

September 5, 2008


Fraud Helps Push Delinquency Higher
Recently declining home values have pushed the risk of delinquency higher -- though mortgage fraud plays a big role -- and the risk is likely to continue growing until at least 2010. The riskiest markets continue to be concentrated in California.




RE Investor Forfeits $6.5 Million and Mercedes
Berry Louidort is one of five charged in a mortgage fraud scam involving 37 properties in Palm Beach County and seven in Naples. He is the only one so far that has pleaded guilty.




Two Guilty in $10 Million Mortgage Fraud
Marcia Mestre, 51, and Angela Manalaysay, 35, both of South Florida have pleaded guilty to conspiracy to commit mail and wire fraudand one count of mail fraud.




Dare Sees Another Day in Court
Former head of the Albany Urban League Aaron Dare, 40, was in court again with more charges of mortgage fraud. Dare is accused of filing a false document in a mortgage fraud scheme involving one property in Albany.




Tighter Underwriting Elicits Fraud
The Mortgage Asset Research Institute (MARI) has found in its new report that mortgage fraud increased 42% from the same quarter a year ago.




Candidates Weigh-In on Mortgage Fraud
Senators John McCain and Barack Obama give their forecast on what should happen to prevent predatory lending. Both candidates favor putting a stop to it but have slightly different ideas on how to take that to task.




September 4, 2008


Compliance Tool Kit for Lenders Gains Traction
New regulatory compliance requires lenders follow new rules. Wolters Kluwer offers a software solution to assist lenders in staying compliant that is being used by more than 180 financial institutions.




Lawyer Guilty of Assisting Mortgage Co. in Fraud
Metropolitan Money Store sought the help of Maryland lawyer Richard Allison, 37, in a mortgage foreclosure scheme that stripped homeowners of their equity and left them homeless. Allison pleaded guilty to conspiracy to commit mail and wire fraud.




September 3, 2008


FBI Contests L.A. Times Story
The FBI publicly replies to a story in the L.A. Times that suggests they could have done more to prevent the mortgage crisis. Kenneth Kaiser, Assistant Director of the FBI’s Criminal Investigative Division, said the editorial published was “not a fair or realistic assessment.”




September 2, 2008


Floridian Mortgage Fraud Mastermind Indicted
Magile Cruz, aka Maggie Cruz, Magile Cruz-Rodriguez, Magile Araujo, and Ros Rodriguez, has been accused of masterminding a $24 million mortgage fraud scheme involving 79 properties in Miami-Dade and Broward counties. Cruz was listed at the owner of many companies involved in the scheme including Star Lending Mortgage, State Mortgage Lending and three title agencies, Sherley Title Services, Doral Title Services and Professional Title Express. Cruz has pleaded not guilty but if convicted faces up to 60 years in prison.




Regulators Tackle Mortgage Issues
State mortgage regulators met in Minnesota last week ahead of the GOP to discuss important regulatory issues -- including mortgage fraud. Licensing was among the top issues. The American Association of Residential Mortgage Regulators Conference held its annual conference in Minneapolis from Aug. 18 to Aug. 22. The Nationwide Mortgage Licensing System panel's discussion will likely have the greatest day-to-day impact on mortgage brokers, lenders and servicers.
Read story at MortgageDaily.com




Argent Manager Found Guilty
Samuel Green, account and regional production manager for Argent Mortgage Co., has been convicted of his role in a $13 million mortgage fraud scheme that involved about 130 loans. Green faces up to 60 years in prison. He is one of six accused in the fraud that occurred in Florida; Scott Almeida, Adrienne White, Frank Giffone and Bradford Peck have pleaded guilty.
Read story at The Ledger




Fugitive Found and Sentenced
Corenelius Robinson, 48, skipped out on his sentencing hearing only to be found four days later by law enforcement -- with illegal weapons. Robinson was sentenced to 27 years and three months in federal prison for heading a multimillion-dollar mortgage fraud scheme using straw buyers and multiple properties in Austin, Texas.
Read story at The Statesman




Fraud’s Eye View
An analysis of the recent Mortgage Asset Research Institute’s (MARI) report suggests that fraudulent activity is still on the rise due to stricter guidelines. Stringent mortgage loan guidelines are opening the door for “straw buying” schemes, using one’s good credit to purchase a home for an unqualified borrower and other types of mortgage fraud.
Read story at Star Tribune






read archived blog entries

 
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 MortgageDaily.com.




Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com 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

MBS

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