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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Illinois Real Estate Agent Charged for FHA Mortgage Fraud Scheme
Raymond S. Talan, Rockford, Illinois, a real estate agent in the Rockford and Chicago area of Illinois, was indicted for falsifying documentation to verify a borrower’s income and employment in the loan application process. Income and employment verification, as well as closing costs paid by the borrower, are requirements for most commercial lenders such as Argent Mortgage Company and USA Funding, Inc. According to the indictment, Talan assisted his clients in qualifying for FHA loans that they otherwise would not qualify thereby enriching himself through the resulting commissions.
It is also alleged that in addition to falsifying verifications of employment and income, Talan also create false verifications of rent if a Borrower did not have the requisite rental history. Talan would then package the loan documents and forward them to commercial lenders for the purposes of procuring a loan for his clients. Talan would also obtain cashier’s checks in the names of the borrowers such that it would appear the borrower was using his or her own funds for closing.
Talan procured almost $200,000 in fraudulent loans for his clients and utilized the commissions for his personal use.
This is common practice in the real estate industry. I once confronted a broker in the process of doing the same things, and he laughed, saying: “Of course it’s fraud. That’s how real estate works. It’s good for the economy”
Posted by on 07/06 at 05:05 AM
JULY 14,2007
Today I came across this web site &
I will return with a very fraudulent
real estate conveyance(s) that actually
occured at two different closings.
This includes “straw” buyers (plural)
mortgage companies, real estate title
company ( 1 ) and of which the last
conveyance even the deed was altered
by the attorney for the current??
owners of record for a conveyance as
a warranty deed for the purpose of a
new loan for the newest set of straw
buyers. The selling agent of the most
recent sale not only is a Licensed Illinois realtor (agent) that wrote his
own offer as selling agent but with a
different name as the buyer… along
with his wife?. By sheltering his 2
identities, the first mortgage at closing washed away MY mortgage lien
(unsatisfied at this closing) and
the title work prepared prior to closing
revealed “them” as the proposed buyers
prior to the closing. The title work
was so prepared as to swipe off the
cloud that was put too close to the
bottom of the page & the following page
was PREPARED 5 days after the physical
closing and what was on that page showed
the balance of the cloud…
the Attorney for the then “owners of record”?? prepared and ALTERED THE DEED
FOR THE PURPOSE OF THE CLOSING & FOR
THE NEW 6 DIGET LOAN on this property.
This reads like a novel that I did not
start or stop with what I have written.
The same attorney that orchestrated this
along with his clients as sellers??
DID NOT, AS AN ATTORNEY FILE HIS APPEARANCE IN THE FORECLOSURE CASE,
SO WHAT HE PRESENTED, SHOWED FRAUDULENT
DOCUMENTS, PRODUCED MOTIONS, ANSWERS,
PREPARED ORDERS & ETC. AND IT WAS I
THE PLAINTIFF THAT BROUGHT THIS ATTENTION TO THE COURT… THE ATTORNEY
ACTUALLY TOLD THE JUDGE THAT HE COULD
WRITE A CHECK! THIS CIRCUS IN THIS
FORECLOSURE CASE IS/WAS A HOAX.
HIS FILING WAS AT THE LAST DOG OF THIS
CASE...SO, JUST ANOTHER ATTORNEY WHO
CHOSE TO LIE, AND WAS AN OFFICER OF THE
COURT… OR WAS HE. IF HE DIDN’T MAKE
HIS APPEARANCE OF RECORD FOR HIS CLIENTS
THEN HE WASN’T REALLY THEIR ATTORNEY???
THERE IS MUCH MORE OF THIS THAT IS
VERY VERY BIZARRE.
CURRENTLY, THIS HOAX IS ON ITS WAY TO
ANOTHER COURT LEVEL.
I CALL THIS CRIME ON A DIME. MEANING
A 10 CENT PEN.
bluehealerwolfbaarstad @yahoo.com
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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