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Monday, June 23, 2008
9 Californians Charged In Cash Back Scheme
Nine defendants were charged by with mail fraud, money laundering, and related offenses in connection with a “cash back to buyer” mortgage fraud scheme that occurred between May 2006 and September 2006. The defendants charged are: Joy Johnson, 33, Solano County, California; Elizabeth Carrion, 38, Solano County, California; Lenin Galeano and Carmen Galeano, 32 and 30, husband and wife, Solano County, California; Angelito Evangelista, 40, Solano County, California; Clarisa Ang and Cris Ang, 43 and 46, husband and wife, Solano County, California; …
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Suthers Cracks Down On Mortgage Fraud
Rocky Mountain News - Denver, CO
Suther’s office also indicted 10 individuals last March in an $11 million mortgage fraud ring involving 34 local properties...Several other investigations of mortgage fraud are ongoing.
Tech Roundup: Interthinx Tackles Conflict-of-Interest Fraud
HousingWire.com
Agoura Hills, Calif.-based Interthinx, Inc., a provider of risk mitigation and regulatory compliance tools, announced last week the addition of 21 new conflict-of-interest alerts within its FraudGUARD scoring system that identify possible collusion between loan participants.
Sex, Lies, and Subprime Mortgages
BusinessWeek
The sexual favors, whistleblower intimidation, and routine fraud behind the fiasco that has triggered the global financial crisis
More Residents Worry About Mortgage Fraud
Killeen Daily Herald - Killeen, TX
Special Agent Matthew Gravelle is an experienced fraud investigator in the Austin office of the FBI's San Antonio Division. During the last five years, mortgage fraud cases have piled up because of the collapsing mortgage market.
Anti-Mortgage Fraud Law Jams Up Realtors
Bizjournals.com - Charlotte, NC
The situation mainly affects short sales, where the asking price is lower than what the homeowner owes on the mortgage. If the homeowner is 60 days delinquent on payments, the home may be considered a “distressed property” under the state Mortgage Rescue Fraud Prevention Act that took effect July 1.
Hearing Delayed for 2 Mortgage Brokers Accused of Fraud
Las Vegas Sun - Las Vegas, NV
The preliminary hearing for two Henderson residents accused of mortgage fraud has been pushed back to March because of the defense attorney's involvement in the O.J. Simpson trial in October.
Foreclosure Fallout: Avoid Mortgage Scams, Fraudulent Schemes
KOLD-TV - Tucson, AZ
Thousands of people in Pima County are facing foreclosure...The U.S. Justice Department is cracking down on mortgage scams. So far this year, more than 400 people have been charged with fraud and other mortgage related crimes.
Task Force Will Fight Mortgage Fraud
St. Louis Post-Dispatch - MO
The U.S. attorney's office in St. Louis announced Wednesday that it was forming a task force to combat mortgage fraud. The effort is intended to "cast a broader net so that we can catch more of these criminals and put them behind bars," U.S. Attorney Catherine Hanaway said in a prepared statement.
Interthinx(R) Identifies Potential Collusion in Mortgage Applications
MarketWatch - USA
Interthinx(R) announces the addition of 21 new conflict-of-interest alerts within its proven FraudGUARD(R) scoring system that identify possible collusion between loan participants. The technology advancement will help lenders identify "non-arms length" mortgage transactions -- a serious indicator of potential mortgage fraud.
Viewpoint: Foreclosure Moratoriums, and Interpreting the Truth
Housing Wire - USA
If you read the headlines, you’d think Citigroup is putting a moratorium on most foreclosures nationwide...There’s just one problem: that’s not what Citigroup really said.
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