Tuesday, October 13, 2009

ABN AMRO Mortgage Group, Inc. Dismisses Civil Lawsuit

ABN AMRO Mortgage Group, Inc. dismissed an action in South Carolina District Court alleging manipulation of real estate values.  Each of the defendants was dismissed from the lawsuit.

As previously reported by Mortgage Fraud Blog, ABN AMRO Mortgage Group, Inc. filed a lawsuit in the United States District Court for the District of South Carolina, Columbia Division against the following defendants:

SAJJ LLC dba US Capital of South Carolina dba US Capital Funding

Mark Anderson aka Mark D Anderson dba Creative Solutions Group

Mark Stewart aka Mark A Stewart aka Creative Solutions Group

Alex J Newton (attorney, alleged to have acted as closing attorney for some of the mortgage loans which are the subject of the lawsuit.)

Morris Hardwick Schneider LLC (alleged that members are engaged in practice of law and that firm was created by merger of law firms of Jackson and Hardwick and Morris & Schneider and that attorneys practicing in the law firm of Jackson and Hardwick acted as closing attorneys for some of the mortgage loans that are subject of the lawsuit.)

H Michael Spivey (attorney, alleged to have acted as closing attorney for some of the mortgage loans that are the subject of the lawsuit.)

Nicholas D Atria (attorney, alleged to have acted as closing attorney for one of the mortgage loans that are the subject of the lawsuit.)

Vision Enterprises Inc

Next Generation LP

James Byrd

Eric Byrd

Charles Byrd

Dionne Byrd

Michael Shane McMorris aka Michael McMorris

Myra Elaine McMorris

Isaiah McMorris (alleged to have sometimes done business as McMorris Renovations)

Charles L Grogan

Charles W Grogan

Eunice F Grogan

James W Fayssoux (attorney, alleged to have been owner of at least one piece of real property on which Plaintiff had a mortgage lien.)

Anderson Fayssoux and Chasteen, Attorneys at Law, PA (alleged that attorneys practicing in the lawfirm acted as closing attorneys for some of the mortgage loans that are the subject of the lawsuit.)

The Trustees and Plan Sponsor of the Anderson and Fayssoux Pension and Profit Sharing Plan

The Epps Company Inc (real estate appraising business)

Byron B Epps (appraiser, alleged as owner of at least one piece of real property on which the Plaintiff had a mortgage lien.)

Wilmer Raymond Ammons (appraiser)

The complaint alleged that ABN AMRO entered into a wholesale lending agreement with U.S. Capital on September 13, 2000 and that Plaintiff purchased and funded over 100 loans submitted by U.S. Capital secured by properties in Richland, Spartanburg, Greenville and Cherokee Counties, South Carolina during 2000, 2001 and 2002. The complaint involves allegations of inflated appraisals, purchase transactions disguised as refinances, fictitious or improper obligations reflected on settlement statements, false and misleading information in loan documentation and transfer of title among several specific defendants at “exaggerated and progressively increasing false values in an attempt to deceive the Plaintiff and others as to the true value of the property and to create a record in the offices of the registers of deeds to support the valuations.  The Complaint included causes of action for violation of the South Carolina Unfair Trade Practices Act, Fraud, Negligent Misrepresentation, Civil Conspiracy, Violations of the Racketeering Influenced Corrupt Organizations Act Section 1962(c) and (d) (RICO), Breach of Contract (against U.S. Capital) and Professional Negligence.

mortgage fraud

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Today's News

Some Sources require Registration.   Marco Island Man Arrested in Ohio on Grand Theft Charge Naples News A man who claimed he was a broker is accused of bilking a long-time family friend out of more than $130,000. Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc. Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010. Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area. Lend America, VP Ashley Banned from FHA Housing Wire Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week. Countrywide Tries to Pin Blame on Insurer Court House News Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse. Investors Say They Were Swindled in Property Scheme Fox 13 Now Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches. Greenfield Man Accused of Housing Scam The Republic A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said. Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes. Ownership Rights to Get Another Look TBO.Com State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County. Previous Articles

TRIAL COVERAGE

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