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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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:
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.
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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