Keyword: mortgage fraud
Reduced sentence given to co-conspirator in one of largest frauds in U.S. history
Historic mortgage origination fraud scheme In the longest prison sentence ever given to a Congressman, Former Representative Randy “Duke” Cunningham began his eight year and four month sentence in March 2006 for accepting bribes in the form of yachts, $2.4 million in homes, cash and other bribes, more bribery than any Congressman has ever been caught accepting. New York real ...
20 charged in mortgage fraud scheme, many are Realtors
$40 million mortgage fraud scheme Twenty residents of Florida have been charged by U.S. Attorney Wifredo A. Ferrer for their alleged participation in a complex $40 million mortgage fraud scheme run between 2006 and 2008, according to court documents. The scheme involved real estate professionals at every stage of the process from Realtors to mortgage brokers, a bank manager, a ...
Woman tricked elderly blind woman into signing over deed to her house
Texas woman loses historic home Houston homeowner Patricia Pusey was approached in 2008 by a woman who said she was running a tax advisory service that could alleviate her struggle. Pusey is 77 years old, blind and has struggled financially in her older age, falling behind on her property taxes as she had a heart attack and her son was ...
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Are real estate agents perpetuating short sale fraud?
Real estate agents at the center of fraud? According to CNN Money, a new brand of short sale fraud is making the rounds in which lenders are scammed out of tens of thousands of dollars “sometimes in a matter of hours.” How the scam works Columnist Les Christie doesn’t lightly address the scam, writing that “the scam artists, usually real ...
Trammell family pleads guilty to complex mortgage fraud scheme
Sophisticated mortgage fraud scheme Today, for their part in a sophisticated multi-million dollar mortgage fraud scheme, Houston residents Claymon “Butch” Trammell, wife Jeannettea Williams and daughter Michelle Trammell have pleaded guilty in federal to conspiracy to commit wire fraud, according to the Federal Bureau of Investigation. For three years beginning in 2003, the Trammells recruited and paid people to be ...
Foreclosure rescue company officer pleads guilty to $10 million scheme
Cheated mortgage lenders and homeowners Ronald Harris Jr. of Newark pleaded guilty today for his part of his foreclosure-rescue company that cheated mortgage lenders out of $10 million. The charges Harris admitted guilt to are conspiracy to commit wire fraud and money laundering. Harris admitted to his mortgage rescue companies (Harris Capital and Skyline Capital Group) presenting loan applicants as ...
Tax fraud in America surpasses half a billion dollars
Tax fraud in astounding amounts According to the Treasury Inspector General for Tax Administration, individuals applying for first-time homebuyer tax credits have defrauded the government to the tune of $513 million. The first time buyer credit offered a tax credit of up to $8,000 which ended in 2010, a credit that many economists claim fueled buying in an economy that ...
Homeowner sues lender, alleges it uses HAMP to lure customers
Why Realtors should know these lawsuits In today’s economy, real estate professionals are being asked for help and guidance by struggling homeowners and agents should be aware of the changing scenery (and dangers), and know options for consumers in trouble. A Realtor’s value really shines through when they help a consumer when it isn’t about a commission. Consumers don’t forget ...
Colorado AG suing Loan Modification Solutions for alleged deceptive trade practices
Castle Rock aka Loan Modification Solutions After allegedly defrauding consumers, Castle rock is being sued by the Colorado attorney general. The suit names Castle Rock (Loan Modification Solutions) owners Robert and Nanette Auhll and their salesman Thomas Stefanszky, alleging they defrauded homeowners seeking loan modifications and foreclosure relief. Under Colorado law, companies cannot seek an upfront fee for loan modification ...
Minnesota Attorney General finds difficulty in prosecuting foreclosure fraud
The Minnesota Attorney General is confirming a series of fraud cases they are investigating and attempting to prosecute in their state along with almost every other state in America. The tricky part, however, is that there is no paper trail when loans have been sliced, diced, repackaged and resold, making the MO AG’s work and others’ prosecutions difficult. The above ...
Mortgage fraud rising, three people being sent to federal prison
Lexis Nexis’ MARI report is out The Mortgage Asset Research Institute has released their twelfth mortgage fraud case report, revealing that mortgage fraud is still on the rise although the velocity has slowed from a 26% increase in 2008 to a 7% jump in 2009. Misrepresentation of information on loan applications accounted for 59% of incidents followed by fraud appraisals, ...
The Fraud Witch-Hunt Will Begin Soon. Are You Safe?
“Fraud” “Fraud” is a powerful yet, often overlooked word by some real estate agents and brokers. The crazy thing is that one of the greatest fraud witch-hunts is about to being and one (or many) real estate agents and brokers WILL be made an example of by the government/FBI. “You’ve been reading too many books!” No…not really. A few months ago, the two ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
