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.
Investors, Mortgage Lender, Loan Officer and Escrow Officer Charged In Mortgage Fraud Scheme
Eight defendants were charged in a 17-count indictment including conspiracy charges in conjunction with a mortgage fraud scheme they operated in the Dallas area. Defendants Donald L. Jones, 61, Grapevine, Texas , and Joseph B. Jackson, Sr., 63, Irving, Texas, are also each charged with ten counts of wire fraud and six counts of bank fraud. Jones and Jackson represented themselves as real estate investors who owned and operated Affordable Homebuilders and the YIN Group in Irving, Texas.
Donald Matthew Jones, aka “Mat Jones,” 35, Maui, Hawaii, is also charged with three counts of wire fraud. He was an employee of Affordable Homebuilders and also owned and operated home healthcare centers under the names of Private Home Health Care and Brain and Spinal Cord Injury LLC.
Daniel J. Sattizahn, 29, Plano, Texas, is also charged with three counts of wire fraud. He was a co-owner and operator of First Capital Investments. Robert Patterson, Jr., 55, Dallas, was a loan officer. He is also charged with one count of wire fraud and two counts of bank fraud.
Catherine L. Dike, aka “Cathy Carter,” 59, Plano, Texas, was an escrow officer. She is charged in 16 counts of the indictment --- one count of conspiracy, ten counts of wire fraud and five counts of bank fraud.
Defendants William Barnes, 59, Desoto, Texas, who owned BCT Landscaping, and Foday S. Fofanah, 38, Waxahachie, Texas, recruited straw borrowers. Barnes is also charged with three counts of wire fraud and Fonanah is also charged with two counts of wire fraud.
According to the indictment, the defendants ran a scheme to defraud mortgage lenders and financial institutions. As part of that scheme, they located single family residences in and around the Dallas area that were offered for sale, recruited straw borrowers to purchase the targeted single-family residences, inflated the sales prices of the targeted residences to an amount greater than the fair market value of the residences; prepared and submitted false and fraudulent loan applications in the name of straw purchasers to secure mortgage loans for the targeted residences in amounts substantially greater than the fair market value, obtained substantially inflated loans from mortgage lenders and financial institutions based on false and fraudulent misrepresentations about repairs that were to be made on the targeted residences, paid the original owners of the residences, and distributed the remaining fraudulently-obtained proceeds among themselves.
The properties used in the scheme were located in Irving, Texas, on Broadmoor Lane and Glenbrook Drive; in Arlington, Texas, on Shadow Ridge, Wimbledon, Racquet Club Drive, and Woodsong Trail; in Sherman, Texas, on Preston Drive and Post Oak Drive; and in Rowlett, Texas, on Beech Street and Orchid Lane.
The loans on the properties have gone into default. The total amount of fraud attributed to these defendants is estimated to be approximately $14 million.
If convicted, however, the maximum statutory penalty applicable to the conspiracy to commit wire fraud count is 20 years in prison and a $250,000 fine; the maximum statutory penalty applicable to the conspiracy to commit bank fraud count is 30 years in prison and a $1 million fine; the maximum statutory penalty applicable to each of the wire fraud counts is 20 years in prison and a $250,000 fine; the maximum statutory penalty applicable to each of the bank fraud counts is also 30 years in prison and a $1 million fine.
Daniel J. Sattizahn, 29, Plano, Texas, is also charged with three counts of wire fraud. He was a co-owner and operator of Benchmark Mortgage
Daniel J Sattizahn is not the co-owner nor is he the operator of Benchmark Mortgage. The owners and Founders of Benchmark Mortgage are Bryan Harlan & Stewart Hunter. I have a retraction from the office of Richard Roper US Attorney Northern District of Texas. If someone has an e-mail address for the staff writer of this article or some other representative of this blog I will galdly send it. Mr. Sattizahn misrepresented himself to the DOJ.
Respectfully,
Rich Detz
Benchmark Mortgage
Posted by on 03/27 at 05:27 AM
Aegis Mortgage Corporation is a victim in this matter. We have the indictment but it is missing page 2. Can you please post the indictment? Thank you
Posted by on 04/09 at 04:51 AM
I am looking at working with Benchmark Mortgage Bank regarding several investment properties for loss mitigation purposes.
Could you tell me if this company has a good reputation?
Posted by on 09/10 at 08:34 AM
I am looking at working with Benchmark Mortgage Bank regarding several investment properties for loss mitigation purposes.
Could you tell me if this company has a good reputation?
Posted by on 09/10 at 08:34 AM
Mr. Don Jones along with his son Matt, were also involved in the first Charter school of Texas, Renaissance Charter School in which 4.5 million or more of state funds were allegedly taken via false attendance records and such. Haver there been charges filed in this matter as well to your knowledge?
Also, sentencing is to occur 11/17/08 @ 1:30 p.m. 13 floor of U.S. District Court Judge Lindsay presiding (1100 Commerce St.). Would you please advise as to the sentencing and if any funds were recovered?
Posted by on 10/24 at 03:17 PM
This entire group was introduced and directed by an individual who is not in the indictment. I know him personally and know that he put this entire crew together and then at first sign of trouble he snitches on everyone; including Daniel Sattizahn who was his best friend since childhood. Daniels’ parents lent this individual $60k to start up his business and he never paid them a dime back. Daniel was a licensed attorney - he went to Princeton undergrad and Notre Dame Law. He worked for this individual trying to get his parents paid back.
The individuals name is Steve Gillespie from Frisco Texas.
Posted by on 10/30 at 08:24 AM
Dear Sir/Madam,
I AM Mr Robert William. THE PUBLIC RELATION OFFICER (P.R.O.) OF A REGISTERED FINANCIAL LOAN COMPANY.WE OFFER OUT LOANS TO BOTH COMPANIES ANDINDIVIDUALS AT AN AFFORDABLE INTEREST RATE OF 3% BE IT SHORT OR LONG
TERM LOAN.FOR MORE INFO ABOUT THIS OFFER,CONTACT US AT
firm1000@gmail.com
LOAN APPLICATION FORM FILL AND RETURN IT BACK
1) Full Name:.........................
2)Gender:...............................
3) Loan Amount Needed:...................
4) Loan Duration:................................
5) Country:...................................
6) Home Address:...............................
7) Mobile Number:...............................
8) fax Number:............................
9) Occupation:..............................
10) Work Address:..............................
11) Purpose of Loan............................
12) Bank address................................
13) Marital Status:...............................
14) Date Of Birth...............................
Thanks and God Bless,
Best Regards,
Mr Robert William
Posted by on 03/03 at 11:12 AM
I went to high school with Daniel, and I feel horrible about reading this story. I also went to Notre Dame, so he and I shared that connection as well. However, my mom was one of his high school teachers, and he tried to get her fired over some BS that he made up. I thought ND Law might have changed his character, but I guess I was wrong.
If you need a friend, Daniel, call me up. You know who I am.
Posted by on 07/14 at 08:07 PM
Hello Sir/Ma’am
My name is Justin Weaver and I am the owner of simple solutions for financial needs. I do not want to sell you anything at all but simply give you my full service. What I do is help those who are receiving monthly payments from a mortgage or deed or what we call a “Note” Receive a Big lump sum of cash at one time. How would you like to help not only yourself but also your clients in receiving the most out of their money? This is no charge to you or your clients. It is 100% secured and Satisfactory. All I will need is to ask you a couple questions and I can do the rest and get back to you as soon as I can with a buyer. I have top buyers waiting for every deal. How would you feel about that??
I also have a website that you could look under for your own personal needs.
It is www.cash4cashflows.com/jweaver17
Please feel free to contact me at any time my cell number is 808-636-3861.
Thank You For Your Time,
Justin Weaver
Owner – Simple Solutions For Financial Needs
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...
Legal Disclaimer.
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 
mortgage fraud
