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Week Ending October 12, 2012


Mortgage Fraud News


Case Activity


SARs Filed on Over $7 Billion in Mortgages During Q2
Oct. 10 -- The latest reading on mortgage fraud activity indicates that instances of suspected mortgage fraud have plummeted by 41 percent over the past year. But the year-earlier total appears to have been aberration tied to a surge in repurchase demands, and activity didn't let up from the previous quarter. More than an estimated $7 billion in home loans were tied to the latest quarter's activity.
read full story at Mortgage Daily
(subscription required)

California County Beefs Up Mortgage Fraud War Chest
Oct. 8 -- A former Bemidji real estate agent faces up to 20 years in prison after pleading guilty in federal court to conspiracy to commit wire fraud in a scheme that defrauded more than $743,000.
read full story at Mortgage Daily



Date Defendants State Amount of Loans Overview Source
Oct. 12 Genilza R. Nunes (aka Leticia Wilchez, Geny Silva, Gena Nunez and Genilza Borges), Sheila Zullo, Paul DiGiacomo, Lillian Veras, Maureen R. Stillwell, Nuno J. Sousa NJ $431,200 Nunes sentenced to 10 years. Provident Funding Associates victim lender. Department of Justice
Oct. 12 Steven R. Hinz, Heather L. English, Patricia A. Polk, William E. Phillips III OH Multiple properties Hinz pled guilty. Department of Justice
Oct. 12 Paul Wagner NV $8,000,000 Convicted. MortgageDaily.com
Oct. 12 Eric Finger, Jeffrey Larochelle, Denise Parks, Frederick Warren, Joell Barnett, Foriduzzaman Sarder, Sakat Hossain, Mikael Huq, Fritz Bonaventure, Dorian Brown, Reginald Johnson NY $9,000,000 Finger sentenced to 51 months. Department of Justice
Oct. 11 Simon H. Aouad, John C. Lucidi, Jr., Timothy Cook, Eric Maratea, Eric Itzi PA $3,200,000 in losses Aouad indicted. Department of Justice
Oct. 11 Kessler Holzendorf FL Multiple properties Holzendorf convicted. Department of Justice
Oct. 11 Anthony Pierre Williams, Anthony Salcedo, Sean McClendon CA $1,000,000 in losses Williams pled guilty. Department of Justice
Oct. 9 Stephen Kenneth Chrysler, Aida Agusti Castro CA $8,000,000 Chrysler sentenced to 37 months, Castro sentenced to 33 months. Department of Justice
Oct. 9 William A. Trudeau, Jr., Joseph Kriz, Heather Bliss, Fred Stevens, Thomas Preston CT $3,500,000 Trudeau convicted. Department of Justice
Oct. 8 Arthur Seaborne FL Multiple properties Pled not guilty. HeraldTribune.com

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