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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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Friday, August 22, 2008
Mortgage Fraud Scheme Leader Fails To Appear For Sentencing
Cornelius Robinson, the final defendant to be sentenced in this case, is being sought pursuant a federal arrest warrant for failure to appear for sentencing in connection with a multi-million dollar mortgage fraud scheme.
In March, 2008, Robinson was convicted of conspiracy to make false statements related to a loan, conspiracy to commit wire fraud, five substantive counts of wire fraud, 9 substantive counts of false statements related to a loan, one count of aiding and abetting the receipt of commissions or gifts from loans by a bank employee, conspiracy to commit money laundering and 7 substantive counts of money laundering.
As previously reported by Mortgage Fraud Blog, the overall conspiracy involved sixteen named defendants, at least 33 properties, 19 financial institutions and over $4.5 million in claimed losses. From September 1999 to present, Robinson and the others participated in a scheme to defraud mortgage lenders, including federally insured financial institutions, with regard to loans acquired to purchase 33 properties in the Austin and San Antonio, Texas area. The scheme centered upon the use of real estate flips. That is, the defendants purchased property at one price and would immediately sell, or flip, the property to a straw buyer at a higher price. In doing so, the mortgage lenders were deceived as to the true nature of the transaction and the financial status of the straw buyer. The straw buyers did not make the subsequent monthly mortgage payments and all of the loans have gone into default. All of loans have been either foreclosed upon or are the subject of current foreclosure proceedings.
This case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service - Criminal Investigations. The case is being prosecuted for the government by Assistant United States Attorney Mark Lane.
Anyone with information on Cornelius Robinson’s whereabouts is asked to contact the United States Marshals Service in Austin at (512) 916-5393 or in San Antonio at (210) 472-6646.
mortgage fraud
Att: RBC Bank President Gordon Nixon - Salary - 11.73 Million!!
$100,000 - MISTAKE (FISHERMEN’S LOAN)
I’m a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC account.
Website www.corporatebully.ca
YouTube www.youtube.com/CORPORATEBULLY
There is no monthly interest payment date on the contract.
Date of first installment payment, (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan contracts signed by other fishermen around the same time showed a monthly interest payment date on their contract,(agreement).
The lending policy did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn’t familiar with these type of loans. She never informed me verbally or in writing about this new criteria.
Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mailto:greg.grice@rbc.com
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mailto:brian.conway@rbc.com
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mailto:tammy.holland@rbc.com
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mailto:beja.rodeck@rbc.com
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mailto:ombudsman@rbc.com
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mailto:ombudsman@obsi.ca
Posted by on 08/25 at 05:44 AM
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Some Sources require Registration.
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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
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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.
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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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