 Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Tuesday, September 16, 2008
12 Indicted In Atlanta Mortgage Fraud Bust
Fulton County District Attorney Paul L. Howard, Jr. joined forces with Atlanta Police Chief Richard Pennington on September 15, 2008, to announce the indictment of a dozen defendants in an elaborate mortgage fraud scheme centered in Atlanta, Georgia‘s West End. Five defendants are already arrested and in custody while the others remain at-large. The defendants are allegedly accused of buying and selling nine homes using inflated appraisals to more than double actual value. According to media reports, seven of the homes were located in Atlanta’s historic West End. The following defendants are in custody: Grady Bland, Michael Dunlap, Jephthah Jenkins, Franklin Polite, and Brian Stokelin. The following defendants remain at large: Paul Agbeblewu, Frederick Fisher, also known as Rahim Kariem, Nikoi Kotey, also known as Jonathan Nikoi Kotey, Charles Neequaye, W. Leo Payne, Anthony Riley, also known as Aloysius Anthony Peter, and Ekue Satchivi, also known as Francesco E. Satchivi or Francesco E. Satchni.
 mortgage fraud
cbs4.com/video/?id=62082@wfor.dayport.com
The next wave in Fraud...loan modifications with fees..
Posted by on 09/16 at 05:36 PM First American Title makes alot of mistakes and bad decisions that affect real estate consumers. the Real Estate Industry is Broken. The Only insurance you, the Real Estate Consumer Has is Knowledge.
Posted by on 09/16 at 09:01 PM As an account executive, I have looked at tons of deals-- SubPrime, Agency, Government, and Alt-A. I have talked with tons of people in the industry and we have all seen the usual types of fraud-- home made w-2’s, junk voe’s, etc.-- but we are seeing fraud as an industry. The layers of complicity include realtors, sellers, buyers, lawyers, and, I am sure, lo’s and underwriters. However, I do not think that the number of bad deals out there has caused the housing meltdown we have now. There is more to it. We will never get to the bottom of it.
Posted by on 09/17 at 03:54 AM No, it was ALL cause by an industry that knows no ethical boundaries, has no oversight and thrives on fraud.
Posted by on 09/19 at 11:33 AM It was in fact, ALL caused by criminals. The industry might be lacking in oversight and the crooks do thrive in a market with such high profits, but the FACT is, the criminals did the dirty deeds, not the industry. Would you say the bank is guilty because they kept so much cash on hand? No, you wouldn’t. Stop labeling the industry. Just so you know, I AM the detective that arrested those folks.
Posted by on 10/15 at 01:56 AM
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Some Sources require Registration.
Erie Area Mortgage Broker Gets Prison in Fraud Case
GoErie.com - Erie, PA
Shortly before receiving a nearly three-year federal prison sentence, former mortgage office manager Francis R. Conti told the judge he never meant to defraud any of the homeowners caught up in a widespread local mortgage-fraud scheme.
Three Former Portland-Area Mortgage Brokers Face Fraud Charges
OregonLive.com - Portland, OR
Joel D. Surprenant, Michael Duc Han and Benjamin Lucian Lucescu all were charged with one count of obtaining mortgage loans through materially false and fraudulent pretenses.
Shaker Pair Pleads Guilty to Mortgage Fraud Charges
Cleveland.com - Cleveland, OH
Two Shaker Heights residents recently pleaded guilty to charges involving a mortgage scheme with seven area houses and $3 million in fraudulent loans.
Feds File Charges in Five Mortgage Fraud Cases
Chicago Breaking News - Tribune - Chicago, IL
Federal charges were filed today against 37 people and four companies in five separate mortgage fraud cases.
Feds Fighting Back
Contra Costa Times - Walnut Creek, CA
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, state and local agencies has been formed to fight back.
Private Investigator Sees Rise in Mortgage Fraud Due to Economy
PR Web - Ferndale, WA
In the past 12 months his firm has been retained to conduct over 300 mortgage fraud investigations, a 100% increase from 2007.
Former UGA, NFL Football Player Arthur Marshall Charged With Mortgage Fraud Claims
WJBF-TV - Augusta, GA
He is also accused of defrauding three banks in obtaining loans for seven different properties in Columbia and Richmond Counties.
Cuomo Subpoenas Loan Modification Companies
New York Times - United States
“The entire industry is a scam, in my opinion,” Mr. Cuomo said Tuesday. “These are services that homeowners don’t need to pay for in the first place.”
Defendant Pleads Guilty to Wire Fraud Relating to Mortgage Fraud Scheme
Imperial Valley News - Holtville, CA
Scavitti admitted that between 2003 and August 2008 he unlawfully diverted mortgage funds that were wire transferred into his client office account to his own personal benefit, resulting in losses in excess of $2.5 million.
Fed Drug Report: Double Trouble for Metro Chicago
ABC7Chicago.com - IL
...Chicago street gang members run a network of legitimate businesses and have engineered mortgage fraud schemes, both to launder drug proceeds...
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
Update - US v. F. Jeffrey Miller, et al.
Miller II: Judge Julie Robinson has ruled in favor of the defense motion granting a continuance for sentencing of the 3 convicted defendants: F. Jeffrey Miller, Steve Vanatta and Hallie Irvin. The three will now be sentenced after ruling on post trial motions set for August 10, 2009.
Vanatta has been in custody for over 2 years. Vanetta filed a motion for his release pending sentencing. That motion was denied.
Miller remains free pending his sentencing. He has hired a new attorney who filed a motion to delay Miller's sentencing. In one post trial motion, the defense argues as to what assets are subject to seizure.
Defendant Todd Earnshaw is a Kansas City real estate Broker (and brother in law of Miller). Earnshaw has been indicted in what is commonly referred to as Miller I. A trial date for that matter has been set for January, 2010 in Topeka, Kansas.
The Government filed a motion to revoke Earnshaw's bond and remand him to custody while he awaits trial after learning that he allegedly committed the state crimes of Driving Under the Influence, Handicap Parking Violation and Failure to Control Speed to Avoid a Collision while on pretrial release. Notwithstanding finding that probable cause existed to believe that Earnshaw committed the aforementioned state crimes, Judge Robinson denied the motion, but ordered several strict conditions that Earnshaw must follow pending his trial.
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