Thursday, January 10, 2008
Indiana Broker Charged For Fraud Involving 27 Homes
Tameka Bryant, 35, Lynwood, Indiana, a Merrillville mortgage broker, was indicted on 14 counts of fraud involving 27 homes, nearly all in Gary, Indiana, and for misuse of a social security number. Bryant pleaded not guilty to charges.
According to the indictment, Bryant deposited her own money into her clients’ bank accounts to boost their creditworthiness and generated fake identities and employment records for them. Also mentioned in the indictment was Bryant‘s marriage to James Clark, twice, under separate identities.
Bryant allegedly conspired with her husband and two others to obtain loans through her two brokerage businesses, Guarantee Mortgage and Challenge Mortgage, located in Merrillville, Indiana. Another individual tied to Bryant is Anthony K. McDonald, who was charged in November 2007, with buying 10 homes in Gary, Indiana through a mortgage firm identified in the indictment as ”Company A.”
Notwithstanding McDonald‘s yearly income of $14,000 to $20,000 per year, he was able to persuad lenders to loan him almost $500,000. This persuation occured in the form of misrepresentations in mortgage applications submitted through Bryant‘s company.
All 10 homes listed in the McDonald indictment also are listed in the Bryant indictment.
The homes listed in the McDonald Indictment are as follows:
4057 Rhode Island;
4377 Monroe;
3907 Monroe;
957 Lane;
4120 Adams;
3732 Pennsylvania;
3953 Washington;
2516 Fillmore;
3943 Washington; and
4312 Madison, all of Gary, Indiana.
The homes listed in the Bryant Indictment are as follows:
The above ten residences;
2369 Wabash;
3821 Delaware;
759 Tennessee;
2322 Wisconsin;
5522 W. 9th;
3640 Delaware;
3636 Massachusetts (2 loans);
447 King;
1120 Whitcomb;
1635 Connecticut;
612 Mount;
3906 Ohio;
532 Hovey;
2373 Kentucky, all of Gary;
820 Becker, Hammond;
20531 Tyler, Lynwood, all of Indiana.
mortgage fraud
It is amazing to me that these people really dont think that they are going to get caught, they try it once and it worked and then they think they can try it over and over and not get caught. If we as mortgage brokers want lower rates to sell to our borrower and fewer guidlines to work threw, we have to get rid of the bad applees. I hope that many of the brokers that are continually being fraudulant take a look at some of these indictments and relize that they are next and stop doing what they are doing before it gets worse.
Posted by on 01/10 at 10:04 AM
Do w know how did all the appraisals? I think they should be closely looked at!
Posted by on 01/16 at 11:32 AM
It is very interesting to see what percentage of real estate deals in Gary, Indiana are linked in with mortgage fraud. I have seen numerous properties in Gary, IN that were purchased by one individual, all on the same date. Each property has a second mortgage lien for $5000-$8000. This looks like it was from the seller/broker, or someone else tied to this deal. These all wind up in foreclosure, and eventually the ‘investor’ files bankruptcy. This scenario was discussed in a recent Continuing Legal Education seminar held by the Chicago Bar Association, and was presented by the US Department of Justice, United States Trustee department. This type of deal is described as rescue fraud, with the investor who is recruited, and then often left holding the bag.
Posted by on 02/19 at 12:28 PM
I’m the one to get this investigation started. The appraisal was falsified by the apprasier as well. However, Indiana has not gone after them as of yet.
Posted by on 02/25 at 02:30 PM
I hope that you will be able to create a case that can stick. it is high time that we put a stop to the bad image that we have in the mortgage industry, that goes for appraisers, mortgage brokers and realtors. If everyone just did the loans the right way, and not falsify info. the lenders would not have to tighten up things and make it harder for everyone.
Posted by on 03/05 at 07:02 AM
Lets just see if there is aomeone that can really look into Gary IN. that will be abole to put presure on the individuals that are creating these foreclosures.
Posted by on 03/05 at 07:05 AM
I recntly had a Mortgage Broker threaten to blackball me for not getting a value. He stated that I should have completed the market research before going to seethe property and if I couldn’t get the value after seeing the property I should not have taking the borrowers money. When I told him I was going to notify the OTS if he didn’t stop harrassing me he said he was going to tell everyone he knew not to use my company. Does anyone have any advise? I think this is part of the problem. I am suppose to refund eeryones money when in this depreciating market I can not hit the number desired? I’d rather shovel dirt, I’d make a better living with no liabilities or pressure.
Posted by on 03/06 at 06:23 AM
Last year I was steared by a friends relative to buy property in Gary for no money down.This sounded good but it was the kind of scam mentioned elsewhere .The realtor gets property for taxes and has them appraised for much more than their worth .This is fraud and does anyone know what recourse or acion we should pursue.
Posted by on 12/30 at 06:10 AM
Post a Comment
The trackback URL for this entry is:
Trackbacks:
|
Some Sources require Registration.
Mortgage Fraud Risk Index Jumps 11 Percent, According to Verisk Analytics Subsidiary Interthinx
CNNMoney.com
The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
Mortgage Fraud Case Appears Headed to Jury in Jackson County Circuit Court
The Jackson Citizen Patriot - MLive.com
The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
Wyoming Woman Charged with Mortgage Fraud After Allegedly Stealing Sister's Identity
MLive.com
A Wyoming woman is facing felony charges accusing her of stealing her sister's identity to obtain a mortgage...then defaulting on that mortgage, leaving taxpayers on the hook.
U.S. Attorney Targets White-Collar Crime
Wall Street Journal
In San Francisco, Mr. Russoniello said he is trying to crack down on cases like mortgage fraud, though he doesn't have the budget to hire additional white-collar prosecutors.
Arrests Made in Orlando Mortgage Fraud Roundup
MyFoxOrlando.com
During the real estate boom two years ago, some units were going for a half million dollars. Now some are short selling for just 50 grand.
10 Accused of Mortgage Fraud at PR Coastal Resort
Forbes
A developer and nine other people, including a former salsa singer, have been charged in an alleged $14 million mortgage fraud in Puerto Rico...
Strodtman Jury Selected in Mortgage Fraud Trial
Greeley Tribune
Attorneys will deliver opening statements this morning in the trial of Mark Strodtman, who is accused of bilking homeowners in a mortgage scheme years ago.
FHA Digging Out After Loans Sour
Wall Street Journal
Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration...
Mortgage Fraud Probe Nets 105 Across State
Bradenton Herald
At least one local man is among 105 people arrested across the state following a nine-month investigation into organized mortgage fraud.
Mortgage Fraud Increases
MortgageRates.co.nz
The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
Previous Articles
|
Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
|
|
|
|
|
|
|
|
|
|
|
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 
