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Mortgage Fraud Archives Week Ending December 24, 2010


Mortgage Fraud News

Case Activity

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
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
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
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
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 TheState.com
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
Date Defendants State Amount of Loans Overview Source
Dec. 22 James June, David Tarczynski, Jason Foisy MA $50,000,000 Indictment. Justice.gov
Dec. 21 William Brent Raulerson GA One count, multiple properties Guilty plea. Augusta.gov
Dec. 21 Diogenes Aguasvivas FL 2 counts Indictment. FBI.gov

Dec. 21 Jeffrey Whaley TN $2,400,000 Indictment. Justice.gov
Dec. 20 Susan Alt, Deborah Brazalovics, Charlotte Gill, Joanne Schmidt, Diane Marciel CA $14,700,000 9-year sentence for Alt. Cuyahogacounty.gov
Dec. 20 Stuart H. Sojcher MA $1,300,000 Indictment. Justice.gov
Dec. 20 Daniel J. Nichter OH $3,000,000 Indictment. Franklincountyohio.gov
Dec. 19 Holly Stevens, Maurice Jenkins AR $1,000,000 Deal in Federal lawsuit reached for Stevens. Fayobserver.com
Dec. 19 David Wesley Vickers FL $3,350,000 Found guilty. Justice.gov
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