Friday, July 06, 2007

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.

mortgage fraud

1. 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

2. 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

   Posted by  on  07/14  at  09:18 AM