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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.
Rachel Dollar PictureRachel 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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Thursday, June 12, 2008

Husband And Wife Plead Guilty To Identity Theft And Mortgage Fraud

Tyrone L. Davis , 40, and Stephanie E. Davis, 49, both of St. Joseph, Missouri, pleaded guilty before U.S. District Judge Dean Whipple to the charges contained in an October 3, 2007, federal indictment. The Davises are co-owners of Davis Custom Homes in St. Joseph, Missouri. Stephanie Davis also worked as a loan originator for Gateway Mortgage Group, LLC (formerly known as American Home Lending).

By pleading guilty, Tyrone Davis admitted that, from March 1 to November 1, 2006, he participated in a conspiracy to defraud banks and mortgage lenders by receiving fraudulent loans. Conspirators prepared and submitted fraudulent bank loan or mortgage loan applications containing false information and forged signatures in order to receive bank or mortgage loans. In order to carry out this scheme, conspirators stole the identities of two persons and used false identities and fraudulent supporting documents to apply for loans to purchase residential properties.

Stephanie Davis pleaded guilty to the interstate transportation of stolen property, related to the wire transfer of $166,000 obtained through mortgage fraud.

A federal investigation was initiated in August 2006, when the Missouri Department of Health and Senior Services office in St. Joseph received a report that a 73-year-old woman was the victim of identity theft and her personal information was being used to make fraudulent purchases of real estate properties in the St. Joseph, Missouri area. The victim never gave permission for her signature to be used in connection with the fraudulent purchase of any real estate, and she believed her granddaughter, Tina Mooney, 32, St. Joseph, Missouri, deceived her into signing a fraudulent power of attorney document. Mooney, in a separate but related case, pleaded guilty on December 13, 2007, to the interstate transportation of stolen property and admitted to her role in the fraud scheme.

At the time the power of attorney was created, Mooney was residing in a house owned by the Davises. In May 2006, Mooney was about to be evicted for failure to pay her rent. Stephanie Davis convinced her that she could purchase up to 10 properties (many owned by the Davises) and become a landlord, if she could find someone with a good credit rating. Mooney provided the name of her grandmother and helped to create a false power of attorney document in her grandmother’s name.

Starting in June 2006, Mooney, with the assistance of Stephanie Davis, utilized the power of attorney document to sign a number of real estate contracts in her grandmother’s name. Mooney (with the help of Stephanie Davis) also created false income and employment records in the victim’s name. Initially, they attempted to obtain financing in the victim’s name and did not try to hide her actual address or income figures. However, when it became apparent they would not be able to obtain financing with the victim’s actual information, they created false bank records in the victim’s name.

Tyrone Davis admitted that he directly contributed to the mortgage fraud conspiracy by assisting in the creation and submission of a fraudulent $41,500 home repair invoice for a house owned by himself and his wife, as part of a mortgage loan application, on August 23, 2006. Although the invoiced home repairs were never completed, the Davis home was fraudulently sold with mortgage funds accruing to the Davises incorporating the $41,500 of inflated or misrepresented repair costs.

Co-defendant Scott E. Schneider, Sr., 51, St. Joseph, Missouri, pleaded guilty on January 24, 2008, to his role in the conspiracy. Schneider assisted co-conspirators to create fraudulent documents and transported others to various businesses for the purpose of executing or attempting to execute the mortgage fraud scheme.

Under federal statutes, Tyrone Davis could be subject to a sentence of up to five years in federal prison without parole, plus a fine up to $250,000. Stephanie Davis could be subject to a sentence of up to 10 years in federal prison without parole, plus a fine up to $250,000. Sentencing hearings will be scheduled after the completion of presentence investigations by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorney K. Michael Warner. It was investigated by the Federal Bureau of Investigation and the Mo. Department of Health and Senior Services, Special Investigations.

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Posted by Staff Reporter on 06/12/08 at 03:42 AM
Mortgage Fraud LocationsMissouri • Total comments: (0) (0) Trackbacks

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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

Trial coverage provided by Anne Mitchell, Crazy Fish Realty.

Follow Anne on Twitter.

Thursday, February 18, 2010

F. Jeffrey Miller Trial - 1 Convicted, 3 Acquitted

The jury deliberated for approximately 3 days after receiving their jury instructions. They asked one question:

Does ‘common sense' allow us to deduce what the banks may or may not been influenced by in order to make a loan?

Judge Julie Robinson responded by admonishing the jurors to read all of the instructions.

The jury presented its' verdict...

Read More...

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...

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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...

Read More...

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...

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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.

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