Thursday, February 07, 2008
NC Attorney Charged With Mortgage Fraud
Neil O’Rourke, 40, Apex, North Carolina was charged in a federal bill of information filed in U.S. District Court in Charlotte, North Carolina with one count alleging conspiracy to commit violations of federal law including making a false statement and application in relation to a loan, mail fraud, wire fraud, bank fraud and securities fraud. O’Rourke has agreed to plead guilty to the charge pursuant to a plea agreement with the government. A date has not yet been set for O’Rourke‘s sentencing.
The charge against O’Rourke arises out of a conspiracy in which he participated and which took place from in or about 2002 through about May 2007 involving the purported “Village of Penland” project. The bill of information filed against Neil O’Rourke alleges that Peerless Real Estate Services was the lead entity among a network of numerous entities operating primarily in the western portion of North Carolina.
According to the bill of information O’Rourke joined the conspiracy in 2004 and, at various times, O’Rourke held the titles of President and Vice-President of Peerless. The bill of information lists numerous activities which were part of the conspiracy that constitute both investment fraud and mortgage fraud. The bill of information charges among other things, that the investment fraud scheme was carried out in “Ponzi” scheme fashion, where new investor funds in “Village of Penland” were diverted to make mortgage payments for other investors.
The bill of information charging Neil O’Rourke also alleges that the Peerless conspirators caused investors in the “Village of Penland” to obtain fraudulent mortgage loan proceeds to invest by making false and fraudulent representations in and omitting material facts from the loan packages and HUD-1 Settlement Statements associated with the mortgage loans.
mortgage fraud
I suppose that desperation makes them not ratify whose doing the mortgages for them
Posted by on 02/09 at 02:01 AM
Sometimes I can’t believe the FBI or Feds let these things go on for years. I guess they want to put them away for life!
Posted by
Charlotte Home Mortgage on 02/11 at 12:36 PM
Post a Comment
The trackback URL for this entry is:
Trackbacks:
|
 
|
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.
Previous Articles
|
|
|
|
|
|
|
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. 
Blog Directory
