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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. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Friday, December 28, 2007
More Than A Dozen Indicted In Ohio
David Willan, Craig Conner, Daniel A. Mohler, Sandra Langer, Mandie Pugh, Nicole Pappas-Ford, Richard Borodkin, Brianna Fullerton and Daniel Ringer, all of Evergreen, Ohio, Amanda Lower, Angela Soukup and Gene Luce III, all of Carnation, Ohio, appraisers Joseph Pietro, John Schwinkendorf, Susan Bigley and Robert Kokai, and Michelle Hyatt of First Security Title, were all reportedly charged with a mortgage fraud scheme that took Summit County and Ohio officials years to prove.
The 147-count indictment sets forth mortgage fraud schemes that involved several Evergreen Investments companies. Officials reportedly reviewed over 800,000 pages of loan documents in their investigation. Those affected by the fraud schemes are said to be at least 500.
 mortgage fraud
Fraud is going to cause the whole financial system to crater. There is so much garbage in the securitized mortgage market that it is scary!
The feds better get serious about loan quality or 2010 is going to make 1929 look like a picnic in the park.
Posted by on 12/28 at 02:24 PM It makes me feel better knowing that at last the hard work of Mrs. Dollar is at last comeing to the attention of the Congress of the US.Senator SCHUMER IS going to open hearings in2008.I will be sending his people a history of a persons actives in Harris County Texas that shows flipping properties 2 times in one day,false apprasials that jumped the properties to over twice their value.This caused false information to be entered in the MLS Loans were later taken on 72 properties based on the false info .HARRIS COUNTY APPRAISAL DISTRICT THEN RAISED THE “VALUE” OF ALL PROPERTIES IN THIS T/H subdivision.I have asked how do you repay loans on non productive properties??? WHY DOES HARRIS COUNTY APPRASIAL DIST. THEN CUT THE VALUE BY OVER 50% !!!!!!NO ANSWERS SO FAR.PROOF OF EVERYTHING I HAVE WRITTEN WAS GIVEN TO THE FBI.MY NAME IS GEORGE UBER, USN RETIRED.
Posted by on 12/31 at 03:16 AM The Akron scammers, swindlers and defrauders deserve, if convicted, decades in the slammer (for each one).
Don’t at all understand the quote in the Akron paper that “each mortgage generated between 3,000 and 5,000 pages” requiring review. If true, why not COMPUTERIZE THE ENTIRE PROCESS???
Posted by on 01/02 at 04:20 AM if you want more info. about Michelle Hyatt,google her name or her husband , Marty Hyatt or her husbands sex partner , Konnie Beck.
Posted by on 01/04 at 08:43 AM These defendants are all from Akron, OH. They work for Evergreen Investments and Carnation Bank.
Posted by on 01/12 at 05:36 PM Sucks to be them!!!!!They deserve what they get!!!
Posted by on 02/12 at 06:10 AM Michelle Hyatt’s husband Marty Hyatt is a realtor for Kruger Realty that does business in the Akron area,I wonder if they were involved as well? The Hyatt’s are a modern day Bonnie and Clyde.
Posted by on 02/17 at 11:30 AM
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Some Sources require Registration.
Real Estate Fraud Widespread, Insider Q&A Told
Orange County Register- California
As head of the California Department of Real Estate, it’s Davi’s responsibility to oversee the licensing and regulation of real estate agents and to investigate complaints.
Complaints Against Ohio Real-Estate Agents Rise
Cincinnati.com - Cincinnati, OH
Some of the most common complaints involve buyers upset over undisclosed property problems and agents not doing the marketing they had promised. There's also been an increase in mortgage fraud and criminal allegations.
Millions At Risk Of Foreclosure Fraud
Inland Empire News - Riverside, CA
The reason Carter, 55, is facing eviction, she says, is that she fell for a high-stakes scam that’s sweeping the nation, preying on the 1 in 11 consumers who are either behind on their mortgage payments or already in foreclosure.
Florida Comes Clean, Allowed Criminals to Enter Mortgage Industry, Prey on Consumers
By The Liput Group
In a stinging critique of the state's oversight of the mortgage industry, top Florida investigators found that state regulators failed to alert police agencies to crooked mortgage brokerages, ignored citizen complaints and allowed hundreds of people with criminal histories to peddle loans.
FBI's Mortgage Fraud Caseload Grows To 24
Toronto Star - Ontario, Canada
The FBI is investigating 24 cases of potential corporate fraud related to mortgage lending, up from 21 cases disclosed by the bureau in July, bureau director Robert Mueller told Congress yesterday.
Convicted Appraiser Nicolo Back In Custody
MPNnow.com - Rochester, NY
John Nicolo, who was convicted in a widespread kickback scheme involving Eastman Kodak Co. and a former Monroe County assessor, is back in police custody after he allegedly violated the conditions of his release.
Mortgage Crisis Leads To An Increase In Scams
WSBT-TV - South Bend, IN
When it comes to perpetrating a scam or a fraud some tools used are a gun, or a fist, or a knife,” Zultanski said. “Mortgage is another avenue to commit a fraud.”
Mortgage Firm Countrywide, In Response To Alleged Data Breach, Offers Free Credit Monitoring
Los Angeles Times - CA
Countrywide Financial Corp. is offering two years of free credit monitoring to customers whose sensitive personal information, including Social Security numbers, allegedly was stolen from the home lender's computer files.
Caught in ID Theft's 'Horrible Web'
Columbian - Clark County, Washington
A woman took Carpenter's professional identity as a real estate appraiser, using Carpenter's name and license number. She even appraised commercial and million-dollar properties that Carpenter, a residential appraiser, isn't licensed to do.
Top 10 Riskiest Areas for Mortgage Loans
U.S. News & World Report - Washington, DC
First American CoreLogic recently released a study that ranks America's top 10 riskiest areas in which to make a home loan.
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