home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News

Sign Up for Free Mortgage Fraud Newsletter

twitter linkedin
facebook google+
Mortgage News

Search mortgage fraud news by keyword.

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

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

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



Guilty on 51 Counts

More than $2.2 million in loss to lenders

Nashville, TN - (February 5, 2009) The Office of U.S. Attorney for the Middle District of Tennessee, Sarah Beth Pulliam, Special Agent in Charge of the United States Secret Service’s Nashville Office, and Christopher Pikelis, Special Agent in Charge, Criminal Investigation, Internal Revenue Service, announced that Harold Stafford was found guilty by a federal court jury yesterday on all fifty-one counts of an indictment charging him with conspiracy, wire fraud, bank fraud and money laundering. A sentencing hearing has been scheduled for May 11, 2009.

According to testimony at the six day trial, Stafford engaged in a mortgage fraud scheme that involved the purchase of twenty-two luxury homes in Hendersonville, Gallatin and Goodlettsville by unqualified straw buyers. Two other men involved in the scheme previously pled guilty and testified at the trial of Stafford. Stafford and those two co-conspirators caused the submission to mortgage lenders of false mortgage loan applications that overstated the straw buyers’ income, falsely stated that the homes would be the straw buyers’ primary residences, and failed to disclose other recent home purchases by the same straw buyers. All of these mortgage loans ended in default and foreclosure, resulting in losses to mortgage lenders after foreclosure totaling approximately $2,214,700.

Stafford faces up to 30 years in prison, a $1,000,000 fine, and supervision for up to five years. However, any sentence will be imposed by the Court after consideration of the U.S. Sentencing Guidelines and applicable federal statutes.

This case was investigated by the Internal Revenue Service Criminal Investigation Division, the United States Secret Service, and the 18th Judicial District Drug Task Force. The United States is represented in the case by Assistant United States Attorneys Byron Jones and John Webb.

SOURCE: United State Department of Justice -- Middle District of Tennessee

Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.

Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news