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Mortgage Fraud Archives

Week Ending October 29, 2010

Mortgage Fraud News

Case Activity

Oct. 24, 2010

Fraud Investigation Firm Raking It In
Investors Mortgage Asset Recovery Co., which audits mortgages to help mortgage insurers find fraud where claims are filed, expects more than $12 million in revenue this year.
read story at Los Angeles Times
Oct. 8, 2010

Banks Get Break on Fraud Prevention Technology
A group of banks are being offered special rates for access to technology that helps prevent mortgage fraud.
read full announcement
Oct. 6, 2010

$1.7 Million for Colorado Fraud
The Colorado Bureau of Investigation has received a $1.7 million grant.
read story from The Denver Post
Oct. 4, 2010

Cost Cuts at SC RE Commission Render it Ineffective
Legislators, consumer advocates and industry experts say that expense cuts at the South Carolina Real Estate Commission have made it an ineffective mortgage fraud watechdog.
read story at
Oct. 1, 2010

LA Hosts Mortgage Fraud Summit
Representatives of the Financial Fraud Enforcement Task Force met in Los Angeles on Sept. 30.
read FBI announcement

LA Has Most Fraud Reports
Based on mortgage fraud reports made since 2008, Los Angeles ranks as the worst city.
read story at
Sept. 29, 2010

Mortgage Fraud Summit Moves to Central California
A federal panel heard from real estate agents, attorneys and members of the public at an event held in Fresno, Calif. read FBI announcement | read article at
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
Date Defendants State Amount of Loans Overview Source
Oct. 29 Nathan A. Peake, Gregory L. McCormick DC $2,800,000 Charges filed.
Oct. 29 PRINCE CHARLES EWEKA MA 2 condos Charges filed.
Oct. 29 Chad Evans, Chris Malcom FL 50 properties, losses of $6.9 mil Guilty plea. The Tampa Tribune, The Tampa Tribune
Oct. 28 Nicholas DeRosa PA $200,000 Guilty plea.
Oct. 28 Fred Loewinger OH $1,400,000 Guilty plea. Associated Press
Oct. 28 Ryan Gosin NY $5,000,000 6-year sentence.
Oct. 27 Carlos R. Solis, Marty G. Mendez, Gail L. Mendez, Amy B. Strait, David Knickmeier, WI $8,000,000 Sentences for Solis & Marty Mendez. Victim was Park Bank.
Oct. 26 Zack Zafer Dyab, Julia Alexander Rozhansky,, MN $2,500,000 Guilty plea.
Oct. 26 Anthony Zandonatti, Andrew Silverstein AZ 25 homes Indictments. Victims include Meritage, Deutsche Bank, Sebring Capital Partners, Fannie Mae, Freddie Mac, Equifirst Corp., Mirad Financial Group, Argent Mortgage Company LLC, Deutsche Bank, Tertwin Mortgage, New Century Mortgage, Beneficial Finance One Inc., Bank of New York, US Bank, Concord Mortgage Co., Alt Funding, Bank of America, Citibank NA, Bear Stearns, Central Mortgage Co., Silver State Finacial, Crestar Mortgage, SunTrust Mortgage, American Mortgage Network, Saxon Mortgage Services, EMC Mortgage, Countrywide, First Franklin, Ownit Mortgage Loan Trust, LaSalle Bank NA, Homecomings Financial Network, Americas Wholesale Lender, Bank of New York, Stonecreek Funding Corp.,
Oct. 23 Jerry Haymon, Jacquelyn Drago-Hunter, Phillip Rucker, Sheila Chandler IN pocketed $301,247 Indictment.

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