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Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

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Stories about individual mortgage crime cases.

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Statics by year about real estate fraud.

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Quarterly index based on case activity.

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

Mortgage Fraud Archives

Week Ending Oct. 2, 2009


Mortgage Fraud News

Case Activity

Oct. 1, 2009

Discounted Fraud Prevention
A fraud prevention firm promises that if its services don't identify twice as much mortgage fraud as its competitors, then lender customers will receive the service free for a limited period.
read full announcement

Income Analytics Added to Fraud Detection Tool
Risk analytics based on income verification have been integrated into a fraud prevention tool.
read full announcement
Sept. 20, 2009

Congress Mulling $200 Mil for Mortgage Fraud
Democrat U.S. Sen. Charles Schumer and Republican Sen. Jon Kyl have proposed legislation that would arm state and local prosecutors with up to $200 to fight mortgage fraud.
read story at the Miami Herald
Sept. 23, 2009

California County Nabs $1.7 Milion
The Ventura County District Attorney's Office received nearly $1.7 million in federal grants to fight mortgage fraud.
read story at Venture County Star

Mich. County Boost Fight Against Mortgage Fraud
Michigan's Ingham County Register of Deeds is leading a new campaign to fight mortgage fraud.
read story at WILX.com
Sept. 21, 2009

Law Firm Nails Huge Fraud Contract
The law firm of Smith Dollar has obtained a contract to solve mortgage fraud cases for the FDIC.
read full story at North Bay Business Journal
Sept. 16, 2009

FBI Zeros in on Insiders
The director of the Federal Bureau of Investigation told Congress today that his agency is focusing on insiders in its mortgage fraud investigations.
read full story at MortgageDaily.com

NY Leads Nation in Mortgage Fraud
U.S. mortgage fraud cases mostly held steady during the latest quarter, according to the FraudBlogger.com Index -- a measure of active cases. But activity was up nearly 600% in New York to the highest of any state.
read full FraudBlogger.com press release
Sept. 9, 2009

Oregon Scores Fraud Prosecution Grant
Oregon's Attorney General John Kroger won a federal grant to help prosecute mortgage fraud. The funds will be used for a new prosecutor and investigator.
read full story from the Associated Press
Sept. 4, 2009

Charges Dropped Against Ohio Defendant
A judge has dismissed mortgage fraud charges against Haney Bichat.
read full story at The Columbus Dispatch
Sept. 2, 2009

Realtor Vindicated
The Colorado Real Estate Commission retracted all claims and allegations of mortgage fraud against real estate broker Curtis Sears.
read story at the Greeley Tribune
Aug. 27, 2009

CA Fraud Bill Progresses
SB 239 was unanimously approved by the California legislature and awaits Gov. Arnold Schwarzenegger's signature.
read story from the San Jose Mercury News

Reverse Fraud Rises
So far during the fiscal year that ends at the end of September, HUD has referred 29 cases of suspected reverse mortgage fraud to its Office of Inspector General.
read story at Wall Street Journal | 2nd link
Aug. 25, 2009

ID Theft, Appraisal Fraud Drive Increases Fraud Risk
The risk of mortgage fraud has migrated west during the past year, a new study indicates. While fraud involving inflated home valuations and identity theft leapt, occupancy and income fraud tumbled.
read story at MortgageDaily.com
Date Defendants State Amount Overview News
Oct. 2 Maurice Ragland, Wildor Washington, Victoria Bennett, Terrence Cole, Scott Alexander, MO multiple properties Guilty plea. WIBW
Oct. 2 Rafael Vascones NY $350,000 6-month sentence. Associated Press
Oct. 1 Paul Ryder, Thomas Ryder, Frank Blake NH $300,000 Guilty plea in case where Bear Stearns, Countrywide and IndyMac defrauded. The Daily News of Newburyport
Oct. 1 Garret Griffith Gililland III CA $100,000,000 Bail denied. Associated Press
Oct. 1 Ricky Dean Unruh, Steven Ray Spencer, Charles M. Davis, Scott Allen Kassebaum, Cheryl Joan Kassebaum MO $1,149,158 Guilty plea. KSPR
Sept. 30 John Laufer, Rick Roloff, Laufer Builders Inc., All American Mortgage Inc. WI multiple loans from 2001 to 2006 Less than 1-year sentences. The Business Journal of Milwaukee
Sept. 30 Jerry J. Jaquess IN $19,700,000 2-year sentence for defrauding Homecomings Financial and Argent Mortgage Co.. Indianapolis Business Journal

Indianapolis Star

Sept. 30 Damarys Llorca FL purchase price of:
Indictment for fraud against Horizon Bank. Naples News
Sept. 30 Kathleen Morris MA $179,000 Criminal complaint filed. Cape Cod Online
Sept. 30 Paula Philbrook NH $600,000 Prosecutor pleads guilty. New Hampshire Union Leader
Sept. 29 Kevin Carey MA netted
Guilty plea. Wicked Local Somerville
Sept. 29 Randall Lee Hall, Shanda Lynn Moore, Charles Davis, Scott Allen Kassebaum, Cheryl Kassebaum, Steven Ray Spencer MO 29 properties, losses of
Guilty pleas. Springfield Business Journal
Sept. 29 Jerald Allen Teixeira CA purchase prices of
Guilty plea. Central Valley Business Times

KERO 23 abc

Sept. 29 Allen Seymour, Raymond A. Desautels III, Jason Passell, Judith Piette, Erik Tancun MA $3,000,000 Indictments. Worcester Telegram & Gazette Corp.

Boston Business Journal

Sept. 28 Helen Sotiriadis, Irene Sotiriadis CA $5,000,000 Charges filed. Associated Press
Sept. 25 Julian Ruiz, UMAX OR 17 counts Indictment. OPB

KOIN Local 6

Portland Business Journal

Sept. 25 Garret Griffith Gililland III, Nicole Magpusao, Christopher Warren, Scott Cavell AZ, CA, CO, FL, IL, NV $100,000,000 Extradition from Spain. Central Valley Business Times

Associated Press


Sacramento Bee

Sept. 25 Jamilah Al-Bari, Osman Sharrief Al-Bari, Timothy Reed, Terrence White, Sabrina Weinberg, Kara McIntosh MD, VA, DC $19,021,366 Guilty plea. Associated Press

Media Newswire

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