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Dennis Norman The Financial Crimes Enforcement Network (FinCen), a bureau of the U.S. Department of the Treasury, released their 2009 Mortgage Loan Fraud (MLF) study which found the number of mortgage fraud suspicious activity reports (SAR’s) filed in 2009 grew 4 percent compared to 2008.
Dennis Norman Worst Street In America for Mortgage Fraud is In Orlando (actually they have 5 of the top 10 streets) According to the 2010 Mortgage Fraud Trends Report released by CoreLogic this week, fraud risk in the mortgage industry has declined by 25 percent since it peaked in the third quarter of 2007. Even [...] Three members of an alleged mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit were arrested this morning on wire fraud conspiracy charges, U.S. Attorney Paul J. Fishman announced. Ronald Harris Jr., 40, of West Orange, N.J.; Sterling [...]
Dennis Norman According to a press release issued by the FBI, nearly 500 people have been arrested in a nationwide mortgage fraud take-down as part of “Operation Stolen Dreams.” This operation was launched on March 1, 2010 and, according to the FBI, has lead to a total of 485 arrests, 330 convictions and [...] Beth Phillips, United States Attorney for the Western District of Missouri, announced today that two more defendants have pleaded guilty in federal court to charges related to mortgage fraud schemes, including a $12.6 million conspiracy that involved 25 upscale residential properties in Lee’s Summit, Missouri and Raymore, Missouri and a [...] A 10-count indictment has been unsealed charging six individuals with conspiracy to commit wire fraud and wire fraud, announced U.S. Attorney Karen P. Hewitt. The defendants are charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending institutions, thereby inducing the institutions to make [...] The founder and head of Chicago Development and Planning was sentenced yesterday to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering, U.S. Attorney Joseph P. Russoniello announced. Patricia Morgen pleaded guilty on Dec. 16, 2009. According [...] Defendants Include a Mortgage Broker and Loan Processor This week the FBI announced the unsealing of a superseding indictment charging defendants Anson Joachin a/k/a A.J. Alexandre, 39, of Parkland, Florida, John Fisher, 35, of Jupiter, Florida, Tracey Balli, 35, of Pembroke Pines, Florida, and Delano McLennon, 33, of North Lauderdale, Florida, for [...] Incidents of Mortgage Fraud Increase 7 Percent from 2008 to 2009 – Florida, New York and California Top List of States with Highest Mortgage Fraud and Misrepresentation Rates
Dennis Norman Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry in the U.S. are continuing to climb and [...] U.S. Attorney John M. Bales announced that 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas. The 16-count indictment was returned by a federal grand jury on March 10, 2010, and includes one count of conspiracy to commit mail and wire fraud, 12 counts [...]
Scam Involved Lawyers, Mortgage Brokers, and More Than $14.6 Million in Loans PHILADELPHIA—A 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the FBI Janice K. Fedarcyk, and Pennsylvania Secretary [...]
Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 months in [...] Department of Justice Press Release TAMPA—United States Attorney A. Brian Albritton today announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is [...] Department of Justice Press Release PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (“FBI”), RICHARD H. NEIMAN, the Superintendent of Banks for New York State, RENE FEBLES, the Special Agent-in-Charge of the [...] The Office of the United States Attorney for the District of Vermont stated that Benjamin Osmanson, 30, of California and Sarita, Texas, pleaded guilty yesterday to three counts of conspiracy, wire fraud, and money laundering related to his scheme to defraud mortgage lenders by submitting false loan applications in the names of “investors.” Osmanson was [...] Dennis Norman By: Dennis Norman Yesterday Beazer Homes USA reached a $50 million settlement with the United States over charges of mortgage and accounting fraud. The Federal Bureau of Investigation in Charlotte issued a press release giving the details of the settlement as follows: Beazer and its subsidiary, Beazer Mortgage Corporation, admitted to engaging in several fraudulent mortgage origination [...] |
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