Friday, December 14, 2007
Ohio Foreclosure Fraud Scheme Charges
James A. Warsing, Ashtabula, Ohio, has been charged with eight counts of Mail Fraud.
The indictment charges that between 2001 and 2005, James A. Warsing, using his company, WJW Enterprises, devised a scheme to defraud various homeowners threatened with foreclosures, by falsely promising he could save the homes from foreclosure. It was further alleged that Warsing fraudulently obtained large sums of monies from homeowners promising to use such monies to settle their accounts with lenders but used the money for other personal and business purposes.
As a further part of the fraud, Warsing used the United States mails to send advertisements for WJW Enterprises to prospective clients and to receive checks from homeowners. It was alleged that Warsing collected over $500,000 from homeowners during the period 2002 through 2004.
The actual sentence in this case, upon conviction, will be determined by the Court under the Federal Sentencing Guidelines which depend upon a number of factors unique to each case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the unique characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.
An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it is the government’s burden to prove guilt beyond a reasonable doubt.
mortgage fraud
Beware of foreclosure scam EXPERT, Freddie Mac. I recently saw a video regarding the manner in which Freddie Mac illegally acquires real estate via fraudulent foreclosures.
Posted by on 01/19 at 08:23 PM
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Some Sources require Registration.
Real Estate Fraud Widespread, Insider Q&A Told
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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.
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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.
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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
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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.
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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.
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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
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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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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. 
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