Blog Profile / Mortgage Fraud Blog

Filed Under:Real Estate / Real Estate Industry News
Posts on Regator:1619
Posts / Week:4.1
Archived Since:March 20, 2008

Blog Post Archive

SBA Loan Fraud for Commissions

Mortgage Fraud Blog. An indictment in a recent SBA case outlines a fraud for commission scheme that could easily occur in mortgage lending. Jocelyn J. Brown, 59, San Diego, California, a former loan broker for the now-defunct La Jolla...Show More Summary

Massachusetts Loan Modification Attorney liable to Homeowners

Mortgage Fraud Blog. David Zak, attorney, Revere, Massachusetts, and his two businesses Zak Law Offices, P.C., and Loan Modification Group, Inc, have been ordered to pay more than $625,000 for targeting homeowners with deceptive advertisements...Show More Summary

CEO Convicted in $169M Ponzi Scheme

Mortgage Fraud Blog. Michael J. Stewart, 68, San Clemente, California, the CEO of a now-defunct Southern California real estate investment firm, was found guilty of 11 counts of mail fraud following a nine-day jury trial before United States District Judge Cormac J. Show More Summary

Tampa lawyer involved in mortgage rescue scam loses law license

Mortgage Fraud Blog. A Tampa lawyer who helped swindle homeowners out of $4.7 million during the mortgage crisis has had his law license revoked by the state Supreme Court. In July of 2014, the attorneys general for Florida and Connecticut filed a federal lawsuit alleging lawyer Ian S. Show More Summary

House-napping? The newest invasion?

Mortgage Fraud Blog. Brandon Sestoso, 33, Hicksville, New York, his brother Chas Sestoso, 31, Hicksville, New York and Jesse Kusinow, 32, Howell, New  Jersey were charged with breaking into a residence in Jamaica Estates, New York in...Show More Summary

Irving Fryar and mother convicted in mortgage scheme

Mortgage Fraud Blog. Former Philadelphia Eagles player Irving Fryar and his mother, Allene McGhee, were found guilty Friday of charges of conspiracy and theft by deception stemming from a $1.2 million mortgage scheme that prosecutors said victimized seven lending institutions in South Jersey and Philadelphia in 2009. Show More Summary

Real Estate Agent Indicted in Zero Down Fraud

Mortgage Fraud Blog. Gary Blankenship, 44, St. Petersburg, Massachusetts was indicted in the Middle District of Florida and charged with conspiracy, wire fraud, and bank fraud. The indictment alleges a zero down mortgage fraud for condominiums involving buyer kickbacks and incentives. Show More Summary

Settlement Agent Sentenced in Investment Scheme

Mortgage Fraud Blog. Edward Dacy, 77, most recently of West Melbourne, Florida, was sentenced to six years in prison on charges stemming from a multi-million dollar mortgage fraud investment scheme involving 45 properties and $16 million in mortgage loans used for the purchase of residential real estate in the District of Columbia and Maryland. Show More Summary

Canada – Liar loans helping to inflate hot housing markets, experts say

Mortgage Fraud Blog. New allegations of broker fraud come amid fresh warnings about lofty real estate prices in Vancouver and Toronto markets and their surrounding suburbs. Stated income or “Liar Loan” create an indicia of affordability...Show More Summary

Fryar, mother decline to take stand

Mortgage Fraud Blog. The lawyers defending former Eagles player Irving Fryar and his mother, Allene McGhee, against mortgage fraud charges rested their case in a Mount Holly courtroom Tuesday without calling any witnesses. Fryar, 52,...Show More Summary

Court Holds Claims of Forged Deeds Not Subject to Time Limits (New York)

Mortgage Fraud Blog. Although the CPLR sets forth an applicable statute of limitations period for virtually all causes of action, and otherwise provides for a catch-all limitations period under CPLR 213(1) for claims that are not specifically...Show More Summary

Warehouse Lending Fraud Results in Guilty Plea

Mortgage Fraud Blog. Brady Bunte, the former owner of an Orange County, California mortgage lending company, pleaded guilty to bank fraud in U.S. District Court in Louisville, Kentucky in a warehouse lending fraud.  Bunte devised a scheme...Show More Summary

Mortgage Fraud Sentencing for New Jersey Family

Mortgage Fraud Blog. Christopher Colatrella, 43, Wall Township, New Jersey was sentenced to 5 years in state prison after pleading guilty to 2nd Degree Financial Facilitation of Criminal Activity (Money Laundering) related to an investigation that involved mortgage fraud, theft by deception and money laundering. Show More Summary

Retrial in Las Vegas Results in Mortgage Fraud Conviction

Mortgage Fraud Blog. Brett Depue, 42, Gilbert, Arizona, was convicted following a four-day jury trial, and 1½ days of deliberations, of one count of conspiracy to commit mail, bank and wire fraud, and seven counts wire fraud in connection...Show More Summary

Connecticut Women Gets Probation for Mortgage Fraud

Mortgage Fraud Blog. Glorvina Constant, 36, New Haven, Connecticut, was sentenced  to one year of probation for participating in a mortgage fraud scheme.  Her husband, Jason Sheehan, 41, New Haven, Connecticut, was sentenced to 37 months...Show More Summary

Prosecutors faulted in reversal of Vegas mortgage fraud conviction

Mortgage Fraud Blog. A federal appeals panel Friday ordered the dismissal of a mortgage fraud case against a lawyer who claimed he was charged after prosecutors falsely accused him of violating an immunity agreement. David Mark, whoShow More Summary

Husband Wife and Notary Accused of Stealing From Elderly Woman

Mortgage Fraud Blog. A husband and wife have been charged with stealing over $100,000 from an elderly woman with the assistance of a notary public. Christina Espinosa Aldana, 32, Garden Grove, California; Thalia Lugo-Lainez. 37, Garden...Show More Summary

Down Payment Programs Not a Scam, FHA to Tell Watchdog

Mortgage Fraud Blog. The Federal Housing Administration is expected to rebuff a government watchdog report that criticized down payment assistance programs, questioning why low-income borrowers are charged nominally higher mortgage rates for such programs. Show More Summary

Trial Continues in Case Against Real Estate Firm Co-Owner Accused of Ponzi Scheme

Mortgage Fraud Blog. The trial of a Phoenix man accused of setting up a real estate Ponzi scheme during the Great Recession continued in Santa Ana on Tuesday. According to federal prosecutors who spoke with jurors at court, Michael J. Show More Summary

Valley Homeowners Say they Are Victims of Fraud

Mortgage Fraud Blog. The post Valley Homeowners Say they Are Victims of Fraud appeared first on Mortgage Fraud Blog.

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