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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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Theresa Ann Campbell, aka Ann Campbell, 67, Edmond, Oklahoma, pled guilty to one count of conspiracy to commit wire fraud in connection with the mortgage fraud scheme at the Oak Tree Subdivision in Oklahoma in which the participants are alleged to have inflated the purchase price of homes to obtain cash back at closing in the guise of false remodeling or repair costs. The guilty plea relates to her conduct with respect to property at 5916 Morning Dove Lane, Edmond, Oklahoma.
Campbell was a prominent real estate agent in the Edmond, Oklahoma area, licensed for more than 25 years. She will face an additional investigation by the Oklahoma Real Estate Commission. Penalties if she is deemed to have violated the real estate code include potential license revocation, fines, probation or continuing education.
Others charged in cases related to sales at the Oak Tree Subdivision are:
Dalton Joe Alford, 35, Oklahoma City, Oklahoma, pled guilty to engaging in a monetary transaction in criminally derived property (money laundering). The crime that he is being charged with involved a check in the amount of $57,750.00. The maximum sentence in this case is 10 years imprisonment or $250,000 or both. Alford is required to pay restitution of $172,500 to the victims of this crime.
Toney Charles Mykel, 40, Edmond, Oklahoma, pled guilty to misprision of a felony, admitting that he had knowledge of a felony and concealed the commission of the felony. Mykel is required to pay restitution in the amount of $405,489 to his victims. The maximum sentence 3 years imprisonment or a fine of $250,000 or both.
Anthony Jew, 38, Oklahoma City, Oklahoma, pled guilty to engaging in a monetary transaction in criminally derived property (money laundering). The crime for which he pled guilty involved a check for $15,847.50. The maximum sentence in this case is 10 years imprisonment or $250,000. Jew is required to pay restitution of $449,409 to various victims.
Previously an additional seven people were indicted in the U.S. District Court for the Western District of Oklahoma on allegations that they inflated the purchase price of homes to obtain cash back at closing in the guise of false remodeling or repair costs. Those indicted were:
Brandon L. Baum, real estate salesman and owner of Secorum Investments, LLC.
Gayle L. Caldwell, owner of Access Marketing Services Inc., Edmond, Oklahoma
Joseph Conrad Therrien, home buyer
Charles E. Caldwell Jr., husband of Gayle L. Caldwell and mortgage broker with United Lending, Oklahoma City, Oklahoma
Teresa M. Therrien, home buyer.
Rusty Real Therrien, home buyer and husband of Teresa Therrien.
Timothy J. McDaniel, home buyer.
(referenced by their initials in the indictment as home buyers but not charged were D.J.A. and F.B.)
According to the indictments:
Baum would tell his clients (potential home buyers that he represented as a real estate agent) that they could receive substantial funds at closing under the guise of repair costs that they would be able to use for their personal benefit so long as they agreed to purchase the homes at an inflated price. Seller’s agents that represented certain ‘hard to sell’ properties in the Oak Tree Subdivision, Edmond, Oklahoma, would negotiate with Baum.
Brokers at United Lending, including Charles E. Caldwell, Jr., would facilitate the submission of fraudulent loan applications for the potential homeowners that could not qualify for the loans. False information would be provided on the loan applications. In some cases, Baum, Charles Caldwell Jr., Joseph Therrien and Rusty Therrien would provide temporary loans to buyers for down payments with the understanding they would be reimbursed at closing from the purported remodeling or repair costs, marketing services fees and other undisclosed disbursements. The buyers in those cases would falsely represent the sources of the down payments.
Baum would present the sales contracts to the sellers agents at prices far above those listed on the MLS. The sellers agents would then present the contracts to the sellers by which the sellers would agree to ‘pay for’ the purported remodeling, repair and other charges. Once the purchase terms had been approved by buyer and seller, the seller’s agents would, in many case, increase the MLS list price to an amount equal to or above the agreed inflated purchase price to avoid detection by the lenders.
At closing, the title companies were directed by Baum, sellers’ agents and the sellers to issue checks from the sales proceeds to various entities for purported remodeling, repair costs, marketing service fees or other fees.
T.C.M. was an associate of Baum and controlled bank accounts that Baum used to funnel money back to defendants, buyers and others after closing. The title company checks issued to the various entities for purported remodeling, repairs and other fees would be deposited and Baum would direct T.C.M. to issue checks or obtain cashier’s checks payable to buyers, those who advanced down payment funds and others. In one case, Secorum was used to funnel these charges back to the buyer.
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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