Monday, July 30, 2007
Missouri Mortgage Broker Indicted for Fraud
Kimberly M. Davis, 42, Lee’s Summit, Missouri, was charged in a 14-count indictment returned by a federal grand jury in Kansas City, Missouri. The federal indictment alleges that Davis used the names, Social Security numbers and birth dates of three separate victims, without their permission, to purchase two homes in Lee’s Summit. Davis is charged with eight counts of wire fraud, one count of mail fraud and five counts of aggravated identity theft.
According to the Indictment, Davis worked as a mortgage broker at firms in Liberty and Gladstone, Missouri, from November 2003 through January 2005. Between November 19 and 25, 2003, Davis allegedly used a stolen identity to obtain loans totaling $396,830 from Countrywide Home Loans, Inc., for the purchase of 704 SW Winterstar Drive, Lee’s Summit, Jackson County, Missouri. Davis allegedly used the same stolen identity from January 21 through March 10, 2004, to refinance the Countrywide loan and to obtain a home equity line of credit from First Magnus Financial that included a $68,000 payoff to Countrywide.
The indictment also alleges that, between July 2 and Sept. 17, 2004, Davis used another stolen identity to obtain loans totaling $434,133 from Countrywide for the purchase of another residence at 2520 SW Wintercreek Drive, Lee’s Summit, Jackson County, Missouri.
Between Dec. 31, 2004, and Jan. 7, 2005, Davis allegedly used a third stolen identity to obtain loans totaling $452,503 from Accredited Home Lenders, Inc., for the purchase of the second Lee’s Summit residence by the third identity theft victim.
The charges contained in the indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.
mortgage fraud
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Mortgage Fraud: Beware the Wolf (Loan Officer) in Sheep's Clothing
24-7PressRelease.com - USA
US consumers looking to refinance their homes or to secure a home loan to purchase their dream homes would be well advised to educate themselves...
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Because she had title insurance, Kunda will probably get back her money from the 2007 purchase, but the incident highlights cracks in the real estate market and the risk from international scammers who are growing more sophisticated.
Prosecutors Busy With Fraud Cases
Daytona Beach News-Journal - Daytona Beach, FL
The U.S. Justice Department has formed more than 40 mortgage fraud task forces nationwide as prosecutors and investigators struggle with a flood of mortgage-related criminal cases. The FBI reports that its mortgage-fraud caseload has more than doubled in three years to about 1,600 investigations that have cost lenders at least $4 billion. About 200 FBI agents are assigned to the cases, up from 120 a year ago.
Yanchek may take plea deal
Herald Tribune
Sarasota attorney John Yanchek is expected to plead guilty to mortgage fraud next week, statements from a federal prosecutor and the judge presiding over the high-profile criminal case seem to indicate.
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News Inferno
Two former Bear Stearns hedge fund executives are slated to go to trial in September over charges that they lied to investors about two of the funds they managed
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Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared with the year-ago period.
Report Finds Tampa No. 2 In Florida For Iffy Mortgages
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In a state that leads the nation in mortgage fraud, Tampa had the second most cases of suspicious loan activity of any Florida city, according to a report released this morning from the Reston, Va.-based Mortgage Asset Research Institute.
Mortgage Fraud Jumps by 45% on Fewer Loan Applications in U.S., Per... MARI
Cloud Computing Journal
Key findings from the MARI Quarterly Fraud Report include that fraud most often occurs at the beginning of the loan process. More than 65 percent of fraud incidents are attributed to "General Application Misrepresentation"
Seven Are Accused Of Identity Theft And Mortage Fraud
The Star Ledger, New Jersey
Seven people have been arrested in connection with an international identity-theft scheme that targeted home equity lines of credit and siphoned at least $2.5 million away from dozens of banks, including more than 10 in New Jersey, according to documents unsealed today.
Suthers Cracks Down On Mortgage Fraud
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Suther’s office also indicted 10 individuals last March in an $11 million mortgage fraud ring involving 34 local properties...Several other investigations of mortgage fraud are ongoing.
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
More Trial Coverage
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
