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Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
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 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
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Monday, July 09, 2007
Georgia Cease & Desist Order Issued for Making Misrepresentations in a Loan Application
Roosevelt Toe, Buford, Georgia, was issued a cease and desist order by the Georgia Department of Banking and Finance. The Order is now final. Toe was ordered to cease and desist by the Department for making misrepresentations in loan files submitted to mortgage lenders. Pursuant to state law that was in effect when the violations underlying the Order to Cease and Desist were committed, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding three years if the Order resulted from misrepresentations being made in loan documents.
 mortgage fraud
Now that the subprime market is ready to explode,and with the FBI’s withdrawal of 2,500 agents from pursuing white collar crime cases (since 9/11), it appears that mortgage fraud is about to explode, too.
--Jack Payne
www.sixhrs.com
Posted by on 07/09 at 07:41 PM I work for a mortgage brokerage,company,and I am perplexed at the rap that some brokers are getting,while I do agree that many of them are crooks,I think that many of them are very honest and hard working.The industry representatives and associations are not representing this industry as they should ,why should brokers take the rap for the Sub Prime mess,they did not design the programs,the banks and the investors did.
What about the real estate industry that have been selling houses with defective heating systems,roofs,windows,floorings etc,to the point when a burrower enters the house he has no other choice than to take out an equity loan and repair the house,adding another payment on to his monthly commitments,many a times this burys the borrower as he never allocated for this unforseen expense,yet the real estate industry is walking away free of blame,they charge 6 % commission and they are the moral emblem of the industry joining with others to condem brokers,while many of them are the biggest fraudsters out here making demands of mortgage brokers,that many a times is unrealistic...and if you cannot comply you get no business from them.
The National Realtors I am sure is aware of their members actions but yet they join with others to attack the mortgage brokers. I am yet to hear anyone attacking the realtors in full force as they have attacked the Mortgage Brokers.
What about the buyers themselves who has used their homes as a cash cow,to buy new cars,etc,when they run into trouble the easy thing to do is to blame the banks and the mortgage brokres.... not themselves for their actions..I have never heard them blaming the Realtors,who overchage them, on defective homes,new or old.
The mortgage brokers have to get they act together and weed out the fraudsters,and better represent themselves in the public,it is pathetic,to see how everyone is beating up on this sector of an entire industry,while the Realtors and the banks are walking away free....
Posted by on 07/11 at 01:49 AM
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Some Sources require Registration.
Mortgage Fraud Risk Index Jumps 11 Percent, According to Verisk Analytics Subsidiary Interthinx
CNNMoney.com
The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
Mortgage Fraud Case Appears Headed to Jury in Jackson County Circuit Court
The Jackson Citizen Patriot - MLive.com
The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
Wyoming Woman Charged with Mortgage Fraud After Allegedly Stealing Sister's Identity
MLive.com
A Wyoming woman is facing felony charges accusing her of stealing her sister's identity to obtain a mortgage...then defaulting on that mortgage, leaving taxpayers on the hook.
U.S. Attorney Targets White-Collar Crime
Wall Street Journal
In San Francisco, Mr. Russoniello said he is trying to crack down on cases like mortgage fraud, though he doesn't have the budget to hire additional white-collar prosecutors.
Arrests Made in Orlando Mortgage Fraud Roundup
MyFoxOrlando.com
During the real estate boom two years ago, some units were going for a half million dollars. Now some are short selling for just 50 grand.
10 Accused of Mortgage Fraud at PR Coastal Resort
Forbes
A developer and nine other people, including a former salsa singer, have been charged in an alleged $14 million mortgage fraud in Puerto Rico...
Strodtman Jury Selected in Mortgage Fraud Trial
Greeley Tribune
Attorneys will deliver opening statements this morning in the trial of Mark Strodtman, who is accused of bilking homeowners in a mortgage scheme years ago.
FHA Digging Out After Loans Sour
Wall Street Journal
Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration...
Mortgage Fraud Probe Nets 105 Across State
Bradenton Herald
At least one local man is among 105 people arrested across the state following a nine-month investigation into organized mortgage fraud.
Mortgage Fraud Increases
MortgageRates.co.nz
The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
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