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Search mortgage fraud news by keyword.
News, analysis and statistics about mortgage fraud.
Stories about individual mortgage crime cases.
Statics by year about real estate fraud.
Quarterly index based on case activity.
Reach mortgage executives, loan originators and other people tied to mortgage industry.
Free mortgage news for prospective borrowers.
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The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.
Archive of FraudBlogger.com entries going back to 2005. |
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Mortgage Fraud Archives
Week Ending December 17, 2010
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Mortgage Fraud News
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Case Activity
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Nov. 9, 2010
Mortgage Fraud Still a Problem
Among the findings from two mortgage fraud studies is that an increase in the risk of mortgage fraud was mostly due to a government refinance program and loans insured by the Federal Housing Administration. Another finding was that real-estate-owned sales represent more of a problem than short sales. Las Vegas and Nevada respectively represent the city and state with the highest risk of mortgage fraud.
read story at MortgageDaily.com
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Nov. 9, 2010
Former Fraud Fugitive Still Maintains CA DRE License
Despite that he tried to flee the country following mortgage fraud charges and was arrested at the Canadian borker, Christopher Jared Warren -- who mortgage fraud trial is in process -- still maintains his broker license in good standing with the California Department of Real Estate.
read story at Sacramento Bee
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Nov. 9, 2010
Nevada Receives $1.7 Million to Fight Mortgage Fraud
The U.S. Office of Justice Program has provided $1,700,500 to fund Nevada's mortgage fraud unit.
read announcement from Nevada Attorney General
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Nov. 6, 2010
Failed Bank Victim of Huge Mortgage Fraud Scheme
Friday's failure of Pierce Commercial Bank was, in part, the result of losses stemming from a $500 million mortgage fraud scheme, based on criminal and civil legal activity.
read story at MortgageDaily.com
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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
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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
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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
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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 TheState.com
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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 DailyNews.com
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| Date |
Defendants |
State |
Amount of Loans |
Overview |
Source |
| Dec. 17 |
Melissa Villegas, Rick Villegas, Kathleen DeLapp, Robert Martinson |
CA |
Multiple properties |
Guilty plea from Melissa Villegas. |
Justice.gov |
| Dec. 17 |
Danny N. DeGrande, Max Dino Salazar, Maria Marcella Salazar; Marta Quinones and Tyrone Howard Mack |
CO |
$1,000,000 |
Indictment for DeGrande. |
Denverpost.com |
| Dec. 17 |
Cari V. Deuterman, Christopher E. Tonkinson, Michael McCracken |
VA |
$2,000,000 |
2-year sentence for Deuterman and Tonkinson, McCracken arrested. |
FBI.gov |
| Dec. 16 |
Thomas Duane Roderick |
TN |
$200,000 in restitution |
37-month sentence. |
Justice.gov |
| Dec. 15 |
Sarfraz Tariq, and Mohammed Azam Choudry, Saleem Ali and Shahid Rasheed |
NY |
$3,000,000 |
Charges filed. |
Justice.gov |
| Dec. 15 |
Darnell Mason, Justin Zhu |
TX |
$2,000,000 |
Indictment. |
Mysanantonio.com
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| Dec. 14 |
Anthony J. DeMarco, III, Michael Richard Roberts, Sean Ryan McBride and Eric Bascove |
PA |
$30,000,000 |
Indictment. |
Justice.gov |
| Dec. 14 |
Brian Keith Causey, Horace Hance Mayo III, Michael Paul Fluharty, Tyrone Ford, Daniel Adams Rooks |
NC |
150 loans, $6 million in loan disbursements |
Sentences: 18-months for Causey; 4-months, 120 home detention and 3-year supervised release for Mayo, 6-months, 5-year supervised release for Fluharty, 15-months and 5-year supervised release for Ford |
Justice.gov |
| Dec. 13 |
Sergio Caro |
FL |
$671,166 in restitution |
37-month sentence. |
Irs.treas.gov |
| Dec. 13 |
Jaime Vaca |
FL |
Multiple |
Arrested. |
Justice.gov |
| Dec. 13 |
Crystal Spreng |
PA |
$600,000 |
5-year probation, 6 months house arrest. |
Justice.gov |
| Dec. 13 |
Mitchell Cohen |
NY |
17 properties |
Lawsuit filed. |
Justice.gov |
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