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Mortgage Fraud Archives

Week Ending September 24, 2010

Mortgage Fraud News

Case Activity

Sept. 22, 2010

Mortgage Fraud Testimony
A panel of national and local experts told the federal Financial Crisis Inquiry Commission, among other things, that regulation of mortgage fraud is inadequate and financial incentives are misplaced.
read story at the Miami Herald
Sept. 21, 2010

Mortgage Fraud Testimony
Ann Fulmer, who has been fighting mortgage fraud since 1996, testified before the Financial Crisis Inquiry Commission about the impact of mortgage fraud.
read announcement from Interthinx
Sept. 17, 2010

Mortgage Fraud on Commission's Agenda
A federal financial crisis commission will discuss South Florida mortgage fraud at a Miami hearing.
read story at Miami Herald
Sept. 16, 2010

$1.7 Million for Prosecuting AZ Mortgage Fraud
A $1.7 million grant was awarded by the U.S. Department of Justice to Arizona's attorney general's office to fight mortgage fraud in the state.
read announcement from Arizona Attorney General

Freddie Steps Up Fraud Fight
Mortgage firms that sell loans to the Federal Home Loan Mortgage Corp. have new procedures to follow as part of the company's efforts to police and reduce mortgage fraud.
read story at Mortgage Daily

White Paper on Fraud at Lending Institutions
As you think of the suspense-filled spy
movies in which the hero must defuse a bomb to save the city, you can hear the familiar “tick, tick, tick” of the bomb’s time clock. With ninja like precision the hero cuts the yellow wire, or maybe the red wire, just in time to stop the clock, neutralize the bomb, and save the day. The rush of adrenaline, the intensive focus, and the danger seem to only last for a few seconds then it is all over and everything is safe.
read full report

Sept. 13, 2010

Mortgage Fraud Prevented at Application
A company that provides technology for the applications taken by mortgage loan officers has loaded its offerings with technology that helps prevent mortgage fraud.
read full announcement

Calif. Town Sees $150k Mortgage Fraud Grant
The town of Glendale, Calif., has put a $150,000 grant for mortgage fraud to use. So far this year, local law enforcement has worked on 50 cases with 134 defendants.
read story at
Sept. 2, 2010

Flops, Foreclosures and Fraud
Short-sale fraud, foreclosure fraud and mortgage fraud are all topics that Ann Fulmer is an expert on.
watch full video at
Aug. 24, 2010

Texas Family Mired in Mortgage Fraud
The Corsicana Daily Sun is running a four-part series on the Texas Marriotts.
read story at Corsicana Daily Sun
Aug. 23, 2010

350 FBI Agents Dedicated to Mortgage Fraud
More than 350 of the 13,000 agents employed by the Federal Bureau of Investigation are devoted to mortgage fraud.
read full story at WITN

Mortgage Fraud Cases Jump 55%
A big surge in the number of active mortgage fraud cases helped push the Second Quarter 2010 Index higher. The heavier caseload follows increased efforts by the Obama administration to prosecute mortgage crimes.
read full announcement
Aug. 21, 2010

Story of Bonny and Clyde of Mortgage Fraud
In 2004, Matthew Bevan Cox and Rebecca Marie Hauck were dubbed the "Bonny and Clyde of mortgage scams" by The two fugitives were on a mortgage fraud spree.
read article - watch video
Date Defendants State Amount of Loans Overview Source
Sep. 24 James Lee Lankford, Jon Vance McDade CA losses of $10,580,000 Charges filed. Wachovia/Wells Fargo Bank among victims.
Sep. 24 Jason L. Rabicoff, Eric M. Rabicoff, Bora Ly, Deborah Saulmon,, Anthony E. Carollo, , Rebecca Gelwix,, Anthony Painton Jr., Lucas R. Collier, Kong Bun Ly, Richard Ngek KS $3,000,000 Guilty plea by Eric Rabicoff and Ngek.
Sep. 22 PAUL L. PLAHN MA 1 count Probationary sentence.
Sep. 22 Jermaine Frederick Frazier, Eugene J. Lockhart Jr., Donna Lois Kneeland, Bryan J. Moorman, Patricia Ortega Suarez, Michael Anthony Caldwell, William Randolph Tisdale Jr., Hubert Jones III, Lendell Beacham, Suzette Switzer Hinds, Scott David Eller TX $20,500,000 Guilty plea by Frazier.
Sep. 22 Syed A. Babar aka “Ali” and “Asad,” MARSHALL ASMAR, WENDY WERNER, REHAN QAMER, MOHAMMAD SALEEM CT $10,000,000 4 charged.
Sep. 20 MARK STEVEN ASHMORE WA multiple transactions Guilty conviction. Pierce Commercial Bank was among victims.

archived case entries back to 2005

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Red Flags Rule
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