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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The Office of Thrift Supervision will sponsor the National Housing Forum today, to be held at the Press Club in Washington DC. I am scheduled to speak on a panel entitled “Mortgage Fraud” moderated by Robert Russell, Esq., General Counsel to the Director of the OTS. My fellow panelists are John D. Arterberry, Executive Deputy Chief of the Criminal Division Fraud Section for the US Department of Justice; Scott Husted, First Vice President of IndyMac Bank on behalf of America’s Community Bankers; and William Brewster, Director of Anti-Fraud Initiatives for Fannie Mae (I don’t expect any of these gentlemen ever expected to see their names in blue on THIS website!)
The event will be carried live on C-SPAN and on the OTS website (www.ots.gov.)
Other notable speakers include John M. Reich, Director of the Office of Thrift Supervision; Henry M. Paulson, Jr., Secretary of the Treasury; Representative Michael G. Oxley, Chairman of the Committee on Financial Services and Representative Barney Frank, Ranking Member, Committee on Financial Services. The entire agenda can be viewed at the OTS Website.
I have been swindled out of my home by a group of Equity Skimmers in Redding California.
My home went into foreclosure. Then a man identifying himself as the owner of a bank came to my home and sold me on a “foreclosure recovery program”, making me all sorts of promises if I deed my home over to him.
Being desperate, I did deed my home over to him - and now he has come across on none of the promises - but has gotten a loan on the property, jacking up the appraised value so he just made over $200,000.00 on the ransaction (financed through his own bank).
What are my channels of recourse to get my home back and perhaps punitive damages?
Posted by on 12/12 at 06:11 AM
Remember that lawyers have also participated in these scams. It is critical that people check the background of the lawyer that they are conducting legal business with. Our lawyer got my family and many other people in my town and his license was suspended for an indefinite amount of time for doing nothing after we paid him over 10,000.00 to save our home. It is on the Ohio Supreme Court Records and he really hurt many people. It would not have gotten to this place if the mortgage company would have responded to our numerous phone calls to them during a period of six months. It took another financial firm to contact them and inform them of their wrongdoings toward us and this is when they spoke to us. Six months later, which meant higher fees and more money to be paid back. How do you send someone a tape to tell them how to avoid foreclosure and then you do not respond to their numerous telephone calls? Their lawyer was not even aware of the tape. Our payments were horrendous and it took one time to be late, and the procedures started all over again. It was a nightmare and my heart bleeds for those who have to face these dire circumstances. There has to fairer laws in place to protect the consumer. I was mocked and teased by the mortgage company’s law firm for a long time. It was humiliating, but I dealt with their cruel humor while I was fighting for my home because my lawyer was doing nothing. He possibly had made a bargain with the mortgage company. Whatever the scheme was could have been fought by a competent lawyer, which I originally spoke to, but he was not willing to wait for the money and I needed someone to respond to court documents immediately. The lawyer hired was willing to wait for the initial 5,000 that had to be paid. I paid it all at once and paid him 5,000 more for the next year. I pleaded to the judge about his misconduct when he did not show up for court and the judge informed us that our lawyer was not working for us. The lawyer did not save our home, but our Bar Association in our city helped us get some relief from his fraudulent acts. I miss my house and I did stayed in it for two years before he failed us in the end. My perception of the American Dream of being a homeowner died twice- the day that the mortgage company did not respond to the tape that they sent me and the day that the lawyer stopped working to save my home. I was vulnerable and they treated me no less than a vulcher would treat their prey.
Posted by on 12/12 at 02:53 PM
Too bad you couldn’t get good old Casey S. on the docket! (Was he mentioned?)
Would be good if Henry Paulson talked to his buddies in the banking industry and at The Fed about how the credit system is creating bubble after bubble and wasting the economy with decades of compounding dislocations.
>>Too bad you couldn’t get good old Casey S. on the docket! (Was he mentioned?<<
Who is Casey S.? What docket?
>>Would be good if Henry Paulson talked to his buddies in the banking industry and at The Fed about how the credit system is creating bubble after bubble and wasting the economy with decades of compounding dislocations.<<
Should I look up Henry Paulson? What branch of The Fed are you referring to?
This entry doesn’t sound like an address of my inquiry or an offering of information particularly useful to me in my situation - but more of acadamia for the casual reader.
I was hoping to glean some useful information through this entry of mine that might shed light on my situation.
I am still in my home and fighting to regain ownership perhaps through pertinant civil code sections, etc.
I know this is not a place to find legal advice, but I had hoped to have found information like the following:
***************************************
I have attached below the definition of “equity skimming” along with a few articles.
I would recommend one to organize all of his paperwork; outline what happened; file a police report; speak with the District Attorney; and file a complaint to the Attorney General.
Better yet, if one knows of other homeowners who have been victimized, they should take the above steps together collectively AND speak with an investigative reporter about handling the story.
The Federal Trade Commission has this type of scam HIGH on their radar list, so a complaint should be filed with the FBI and FTC as well.
I hope this helps.
Marie McDonnell
THE MORTGAGE COUNSELOR
Raising the Standard of Truth in Lending through Auditing, Education and Advocacy
***************************************
Posted by on 12/15 at 07:56 PM
My first instinct would be to find an attorney familiar with litigation, consumer protection and possibly banking law.
The next call would be to local police in order to start the paper trail if/when you need it down the road. Don’t expect much, if anything, from the FBI or FTC but again the paper trail will be important later on.
Having said that, there does seem to be a bit of interest these days in “foreclosure rescue scams”. It might be beneficial to contact your state AG and let them know what happened.
For what it’s worth, I hired Ms. McDonnell several years ago when I first realized that I was being set up for Mortgage Servicing Fraud by Fairbanks Capital Corp. n/k/a Select Portfolio Servicing.
Posted by on 04/18 at 09:10 PM
Is anyone in the governmant doing anything about the practices of “Select Portfolio” They are as crooked as the day is long and it seem there is nothing to stop them. Anyone?
Posted by on 06/15 at 11:43 AM
As far as I know, Paul, no. And at this point, the FTC has already had one crack at them and, to the best of my knowledge, USA/Curry did absolutely zero to change the manner in which the company does business. Granted I say that partially because my problems with them began before USA/Curry and continue even today, three years after USA/Curry settled. Somehow, I doubt that any federal action will be taken anytime soon with regard to Fairbanks/SPS specifically or Predatory Mortgage Servicing in general although Congressman Barney Frank has been holding fairly consistent hearings on various consumer-related issues with the House Finance Committee as of late.
Feel free to drop by my site if you like. My litigation is beginning to work it’s way through federal court now since Fairbanks/SPS thought it prudent to remove it from the Superior court level.
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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