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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
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Georgia Closing Attorney Indicted in Mortgage Fraud Scheme
Mary Reagan, closing attorney, 39, Alpharetta, Georgia, was charged in a superseding indictment along with Adriene Newby-Allen, aka Cassandra Miller, 39, Alpharetta, Georgia; Brinson Allen , 38, Alpharetta, Georgia; and James Howard Bailey, III, 35, Houston, Texas, on charges of conspiracy, bank fraud and wire fraud in connection with an alleged mortgage fraud scheme.
A federal grand jury charged Reagan in a superseding indictment, filed March 13, 2007, along with co-defendants Newby-Allen, Allen and Bailey, that alleges that Reagan‘s co-conspirators obtained mortgage financing and home equity loans from federally insured as well as private lenders. The loan values, which ranged in the aggregate from $2.5 up to $3.2 million, were inflated based upon allegedly false credit applications, including false representations regarding borrower income, employment and assets, and inflated appraisal reports. Newby-Allen used her own business, Swiss Acquisitions, Inc., to fund borrower down payments and borrower contributions.
The property addresses named in the indictment are:
11795 King Road, Roswell, Georgia
2300 Blackheath Trace, Alpharetta, Georgia
680 Heards Ferry Road, Atlanta, Georgia (Attempt)
261 Hawks Lake Drive, Ball Ground, Georgia
10890 Bell Road, Duluth, Georgia (Lot)
10890 Bell Road, Duluth, Georgia (Construction Loan) (Attempt)
320 Longvue Court, Duluth, Georgia (Attempts)
Reagan, who operated her own real estate practice and closed several of the loans at issue in the indictment, is alleged to have disbursed millions of dollars in loan proceeds to defendant Newby-Allen. Reagan is alleged to have disbursed loan proceeds inconsistently with the settlement statements she prepared and disclosed to the victim lenders or to have prepared multiple settlement statements - one that was disclosed to the lender to facilitate her alleged fraud scheme and another that was disclosed to the seller to ensure that the seller proceeded to closing and did not blow the whistle. As alleged in the indictment, these fraudulent disbursements amounted to millions of dollars in loan proceeds not going to the sellers of the subject properties, with Reagan allegedly realizing $40,000 in kickbacks.
United States Attorney David E. Nahmias said, “The FBI and other federal investigative agencies continue to aggressively investigate mortgage fraud. Mortgage fraud can be facilitated by closing attorneys who abuse their position of trust to knowingly process fraudulent closing documents. We are focusing attention on real estate professionals, including closing attorneys, who allegedly abuse their fiduciary obligations to mortgage lenders for significant personal profit and the substantial financial gain of their alleged co-conspirators.”
The lawyer actually got $95,000 in 2 kickbacks and prepared double HUD’s.
Posted by on 03/20 at 05:44 AM
who do I talk to if i have been a vitim of mortgage Fraud. The broker and a appraisaler inflated my value on my home. Yes I did pull money out but if I Knew what they were doing, i wouldn’t have. I’m now upside dowm on my home.
Posted by on 03/21 at 12:31 PM
Bobby,
You are not a victim of fraud. Just another idiot that cashed out their equity and then wants to blame the people that helped you get the cash.
Reap it buddy.
Posted by on 03/23 at 04:55 AM
Mary Kathryn Reagan realized $120,000 AND other monies from Cassandra Miller. She also defrauded title insurance companies, HomeBanc Mortage, and others. No conscience. No matter how much she states to be a victim she is definitely NOT.
Is this the same cassandra miller who is wanted for fraud and embexxlement herer in michigan ?
PLease advise.
Hert picture is attached with the above website.
Posted by on 02/25 at 07:10 AM
Have they been sentenced yet?
Posted by on 04/22 at 10:37 AM
Mary Reagan and the others all pled guilty on July 10 on the eve of the trial. And katherine, Adrian Newby Allen is definately not that hottie Cassandra Miller on the radio website.
Posted by on 07/21 at 02:42 PM
They pled but won’t they face sentencing on their guilty pleas? Would like to know.
Posted by on 08/22 at 10:33 AM
I was wondering if this is the same Cassandra Miller that is
being investigated for wire fraud, fraud, and embezzelment,
in Arizona, California and Michigan.
They had a camera team out here from American Scams
that runs on CNBC interviewing some local Detroit celebrities
that were swindled into giving her monies
Posted by on 08/27 at 11:19 AM
Reagan has not been sentenced yet and Bailey has not been convicted of this as stated above. Cassandra Miller-aka-Newby-Allen was the master mind and Reagan not a victim...she was a crook before this schem even got started…
Posted by on 10/03 at 09:42 AM
FYI - Brinson Allen being sentenced on Tuesday, October 7th but he violated bond while out committing another fraud. Currently, he is in jail awaiting sentencing.
Posted by on 10/03 at 10:12 AM
They should all go down..and get a tuff sentence...hope the judge agrees. But Mr.Bailey has not been convicted.
Posted by on 10/05 at 05:52 PM
Kelly,
Do you know what Brinson Allen did to violate his bond? That was pretty stupid since he was already in trouble.
Posted by on 11/11 at 04:45 PM
Brinson Allen, Is not in jail matter of fact he’s arranging his affairs before he’s sentence.Before this incident ever happen he was a hard worker, loyal friend, a descent and honest person to be around.Brinson has always lived an crime free life before marrying adriene newby of two years. This is the first time he has ever been in trouble with the law.I’ve known B.A. since he was a teenager to man-hood.Do not judge him without knowing the true facts about a person character.
Posted by on 12/19 at 10:38 PM
Mary Reagan received 4 1/2 years in prison for the crime she committed.
Cassander Miller real name is Adriene Newby-Allen she was sentenced to 11 years in prison for her crime since she was the ring leader!
James Bailey,III waiting for a court date!
I hope Brinson Allen, Received three years for his act in adriene newby crime scheme.
Posted by on 12/19 at 10:49 PM
It is sad that they have to spend the holidays in jail but hopefully they will get out and be able to move on with their lives. I do not know them all but I hope so.
Posted by on 12/24 at 12:59 PM
Is Adriene Newby-Allen black? Where can I see her mug shot.This lady sure sound like the crook that I was engage to 10 year ago who stole my ring.If it’s her she got what she had coming,and may she rot in the joint.
Posted by on 02/15 at 05:29 PM
If you would like to see a picture of the lucky couple inner both of their names on google.com and their wedding picture should come up.
Posted by on 03/29 at 12:20 AM
I echo the sentiment of a fellow blogger on Brinson Allen...I’ve known BA/Brent/the Brinster for years...He was caught up in a ring of crime with criminals! Brinson was a wonderful friend a person of standards...always concerned about others, caring and thoughtful with zeal for life. I really hate that this fate has accosted my FRIEND but I do know that with the kind of heart he did have...he will rise again. Brinson...if you ever read this know that you can always count on me.
Posted by on 05/04 at 09:55 AM
Mary Reagan was definitely a thief and liar long before she met these people. She can be charming, but is wicked, and a calloused. hate filled, deceitful, accomplished thief and liar. She has certainly stolen a lot from me and my family. Mary Reagan is anything but a victim. The extremely light sentence she has received was likely due to a bunch of lies that she convinced the judge to believe.
Posted by on 08/22 at 05:12 PM
I know about this case because I was the loan originator. Adriene Newby-Allen brought me into doing these loans for her. When I found out the deal, like an idiot, I continued to do the loan. I spent 3 1/2 years incarcerated due to this ordeal. I don’t know Brinson but I do know Adriene never really told him what was going on. Mary Reagan had alot to do with this case as well as Adriene. It was wrong and sad.
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.
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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