Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
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Former Loan Broker Charged in $1 Million Mortgage Fraud Scheme
Gene A. Bradford has been indicted in connection with a mortgage loan fraud scheme. The indictment, unsealed at Bradford’s arraignment, charges Bradford with one count of conspiracy to commit mail fraud & wire fraud, five counts of wire fraud, one count of conspiracy to commit money laundering, and three counts of money laundering. Also included in the indictment is a notice of the government’s intent to pursue forfeiture of Bradford’s property constituting or derived from the proceeds of his illegal activity . The indictment alleges that the value of such illegal proceeds is approximately $1 Million.
According to the indictment, Gene A. Bradford worked as a Mississippi mortgage broker in Hinds and Madison Counties doing business as Guardian Financial Group, LLC. The indictment alleges that from January, 2003 through approximately December 2004, Bradford and others acting at his direction prepared false and fictitious documents to insure that lenders would make mortgage loans to prospective borrowers. If the mortgage loans were successful, Bradford received a fee for his brokerage services. The false and fictitious documents, along with the loan application containing false information, were included in loan application packets submitted to potential lenders by Bradford and others acting under his direction.
The indictment further alleges that in order to obtain funding for borrowers who were otherwise unqualified to receive mortgage loans, Bradford and others acting at his direction would fabricate various kinds of documents, including but not limited to, fictitious social security benefit statements, false income and/or employment information, false verifications of rent, or false verifications of bank funds on deposit. False entries were also included on HUD-1 Settlement Statements submitted to various lenders with the final loan packets which reflected that the borrower paid cash at the closing of the loan when no such funds were paid by the borrower.
During the time period covered by the indictment, Bradford is alleged to have obtained fraudulent mortgage loans totaling over $1 Million.
This mortgage fraud investigation has been ongoing for over two years and is a joint investigation by the Internal Revenue Service and the United States Postal Inspection Service, assisted by other participating agencies in the Jackson Financial Crimes Task Force, including the Federal Bureau of Investigation, Federal Deposit Insurance Corporation-Office of Inspector General, Housing and Urban Development-Office of Inspector General, Mississippi Secretary of State’s Office, Mississippi Real Estate Commission and Appraisal Board, Mississippi Department of Banking and Consumer Finance, Hinds County Sheriff’s Office, Madison Police Department and the Madison-Rankin District Attorney’s Office.
United States Attorney Lampton stressed that this indictment represents an accusation only and all defendants are entitled to a presumption of innocence.
Defaulted Loans May Haunt Seniors On Line WSJ.Com
A little-noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old.
Oregon to Help Homeowners Prevent Foreclosures CBS State
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.
Couple Loses $850,000 in Alleged Ponzi Scheme Boston Herald
Al and Susan McIlvene of Kittery Point, Maine, can remember the exact moment in November when they realized they might lose their entire life savings of $850,000, reports the Portsmouth Herald.
Mortgage Fraud Charges Filed Against Former Bakersfield Realtor, Her father KGET.Com
A former Bakersfield real estate agent and her father face 15 felony counts each of money laundering, conspiracy and grand theft in connection with an alleged multi-million dollar mortgage fraud scheme, newly filed court charges show.
Witness: Mortgage Name Not the Same Clarion Ledger
A former Clinton homeowner was called to testify Wednesday as prosecutors to try to prove a Ridgeland-based mortgage broker and two associates were behind a $9 million mortgage fraud scheme.
Man Accused of Money Laundering, Theft in Moorpark Home Purchase Case VC Star
A man suspected of grand theft and money laundering in connection with the 2005 purchase of a $1.8 million home in Moorpark was arrested this week while trying to enter the United States from Mexico, authorities said Wednesday.
Special Prosecutor for Leary Rejected Journal Gazette
An Allen Superior Court judge denied a request to appoint a special prosecutor in the case of Todd Leary, a former Indiana University basketball player and radio commentator charged with 17 felonies in connection with a mortgage funds scheme.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
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