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

Search
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.

 

PRESS RELEASE


Mortgage Fraud Eases


DALLAS -- (Dec. 4, 2007) Civil and criminal mortgage fraud case activity eased during November from October -- although activity jumped from a year earlier, according to the FraudBlogger Index published and maintained by http://www.MortgageDaily.com.

The FraudBlogger Index was 800 last month, edging down from 810 in October. The index soared, however, from 530 during November 2006.

The dollar volume of active mortgage fraud cases tracked last month was $0.4 billion, compared to $0.3 billion in October and $0.1 billion in November 2006.

State Rankings and Index Level:

November
2007
October
2007
November
2006
1. Florida & Missouri (each) 80
2. New York 70
3. California & New Jersey (each) 60
1. New York 110
2. Missouri 100
3. Illinois 90
4. Georgia 80
5. Florida & Minnesota (each) 60
1. Florida 70
2. Texas 60
3. Colorado & Indiana & South Carolina (each) 50
National:
800
$ amount:
$359,288,000
National:
810
$ amount:
$336,294,100
National:
530
$ amount:
$98,177,000

A minimum of $100,000 was used for all cases tracked, including when no amount was available. The national total index is an aggregate of all state data.

The biggest case tracked involved Minnesota homebuilder Parish Marketing and Development Corp.

Owner Michael Parish and his wife plead guilty to using straw buyers on 200 new homes. There were approximately $50 million in losses.

In September, former U.S. Bank officer Ramiz Yousef Saadeh plead guilty to providing fake deposit verifications in the scam -- which used proceeds from subsequent transactions to make payments on prior deals.


Complete mortgage fraud activity is comprehensively chronicled at:
http://www.FraudBlogger.com


In depth mortgage industry fraud issues are reported at:
http://www.MortgageDaily.com/MortgageFraud.asp?spcode=pr


About the FraudBlogger Index
The index reflects active criminal and civil mortgage fraud cases tracked by FraudBlogger.com -- a comprehensive journal of mortgage fraud reports, crimes and civil litigation. Cases involving larger dollar amounts were given greater weight. No fraud activity tracked during a given month would result in an index of zero. Monthly data may include some overlap but still provide a valuable perspective of the level of mortgage fraud activity.


About MortgageDaily.com
Founded in 1998, MortgageDaily.com is a dominant mortgage industry news source. Around one million mortgage business news pages are viewed monthly at MortgageDaily.com and its affiliate publications.


CONTACT:
Shaun Bartlett
214.521.1300
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


Source: MortgageDaily.com


 
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

MBS

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