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
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
Rhonda Torossian, Rockford, Illinois, was sentenced to 20 months in prison followed by 3 years of supervised release for her role in mortgage fraud scheme to defraud HUD.
As previously reported by Mortgage Fraud Blog, Torossian, pled guilty to count one of the indictment charging her with conspiring to defraud the United States by causing the Department of Housing and Urban Development through the Federal Housing Adminstration to insured loans for unqualified persons. Torossian has agreed to cooperate with the government’s continued case. Cesar Arenas is the only remaining defendant that has not plead guilty. Arenas proceeds to trial in October, 2007.
An Illinois grand jury returned a thirty-five count indictment charging conspiracy to defraud HUD in connection with a fraud for commission scheme. The following five people allegedly defrauded the federal government out of hundreds of thousands of dollars.
Rhonda Torossian, 44, Rockford, Illinois; alleged to have been employed as a loan officer by Prism Mortgage, 4960 East State Street, Rockford, Illinois (which changed its name to RBC Mortgage Company in 2002);
Cesar Arenas, 42, Rockford, Illinois, alleged to have been a real estate agent in a realty firm in Rockford, Illinois;
Nancy Rodriguez, 34, Rockford, Illinois, alleged to have worked for Prism/RBC as assistant to Torossian;
Raul Raygoza, 36, Rockford, Illinois, alleged to have owned and operated ”Friends Furniture,” a Rockford, Illinois furniture store, along with Quintero; and
Israel Quintero, 39, Rockford, Illinois.
According to the indictment, Arenas would refer real estate customers to Torossian to obtain FHA loans for their real estate purchases. As many of these customers did not have valid social security numbers and did not have the required 3% equity investment/ down payment for the properties, Torossian, Arenas and Rodriguez caused false SSNs to be placed on documents submitted to HUD and would create fraudulent official bank checks payable to the customers and as the customers also didn’t have sufficient income to qualify for the mortgage payments, Arenas solicited owners of small business with whom he was acquainted (including Raygoza and Quintero) to sign fraudulent Verification of Employment forms and false credit history letters. Arenas occasionally forged the signatures of small business owners to these documents and would create false W-2’s and paystubs to substantiate the false employment.
The indictment details multiple transactions that occurred between January 2000 and September 2002.
Rodriguez entered a guilty plea on August 25, 2006 to one count of conspiracy. The plea agreement states that Arenas would instruct his customers to obtain a valid SSN from a relative or another person and would then provide the number to Torossian who instructed Rodriguez to alter the customers’ social security cards, pay-stubs and W-2’s by inserted the valid SSN that belonged to the other person. Rodriguez would white out the documents and type in the valid SSN. She admits to creating false social security cards, pay-stubs and W-2’s repeatedly during her employment and Prism/RBC. For customers that did not have the required 3% equity investment, Rodriguez would create fraudulent official bank checks by ‘whiting out’ the payees and amounts on real official checks, typing in the false payees and amounts and then photocopying the checks. She also admits to creating false official bank checks repeatedly during her employment at Prism/RBC.
Rodriguez faces a maximum sentence of five years in prison and a $250,000 fine.
This a very good case to bring to the attention of senator Schummer and his new investivgation hearings.I called his office and left a message telling him that if he wanted to see what caused the melt down to contact Mrs Dollar ar and Interthinx.You people have been fighting this fraud for a long time.There are people out here that applaud your efforts.THANK YOU
This is important information regarding the practice(s) of one Annette Norton, of Aurora, Illinois. The matter involves both identity theft, mortgage application deception(s) and other fraudulent practices, on the part of this employee of Washington Mutual.
To date, only some of those individuals targeted, in the past (indentified here), have been able to be contacted; in order to alert them to the need for them to check both their credit reports for erroneous entries, and financial information, in general.
Also, anyone may use the contact information provided here, in order to allow for these and any other persons to personally contact www. WaMu.com, for purposes of assisting with the investigation of the wrongdoing.
Home Equity and Personal Account Information: (800) 788-7000
(888) 800-8738
…………………………………………………………………………………….
SPANISH:
Ye para todos cual saber ante estas gente, estas importante informacion con respecto a las a practicar anto uno Annette Norton, ante Aurora, Illinois.
Los material acerca ambos robo ante financiero propio informacion hipteca aplicacion impropio.
Hastaenora Annette Norton, colaborador ante Washington Mutual Hipteca Compania.
Pora data, singular unas ante esos individuo meta es nombre aqui - en lo pasado un pocos poseer contacto, adentro a alerta les ante el necesitar para cheque su credito reportaje pues desperfectp exposicion.
Tombien, vinculo informacion es donar a caber persona victima anto banditos, presura rapido.
WWW. WaMu.com, por favor, assitir con investigacion anto impropio actus.
Asilo ahorro, cassa e personal calculo informacion ….
I believe I’m a victim of mortgage fraud perpetrated by David Brimley & Julie Bird of Impact Net Worth aka NetWorth Solutions, aka Meridius Capital. Also party to this fraud are Derek Elliott and the Elliott Group. I have now lost my home and my life’s savings and don’t want this to happen to anyone else. Can you help?
Posted by on 02/04 at 12:01 PM
For more information on James Catledge, David Brimley, Impact Networth etc. visit www.ratupdate.com.
There is also a link to the scam.com message boards were fellow Elliott group investors are located.
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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