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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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Six Charged by Information in Mississippi Mortgage Fraud
Six more people were charged by information in connection with a $3M mortgage fraud scheme in Mississippi that resulted in the indictment of four individuals earlier this year.
Those charged were:
John William Emory, III, mortgage broker, Ridgeland, Mississippi
Bobby F. Fisher, attorney, Greenwood, Mississippi
Jimmie L. Pruett, real estate agent, Greenwood, Mississippi,
Daniel Floyd
Joni Lynn Goss
Ernest Wayne White, Jr.
Emory was charged by information with one count of wire fraud and one count of money laundering. Emory worked as a mortgage broker in Hinds County, Mississippi for various companies including Wholesale Mortgage, Inc. and Mississippi Mortgage, Inc. From June 200 through October 2002 the information alleges that Emory and other affiliated mortgage brokers would seek out prospective borrowers and try to qualify them for a home mortgage- typically one that the borrower could not afford. Emory and the other brokers would obtain the basic information from the borrower would either personally enter false information on the loan application forms or would direct others to do so. Emory and others would prepare or obtain false documents that would be submitted to the lender to support the false information on the loan application, including false VODs, VORs and VOEs. Also according to the information, knowing that the borrowers were unable to afford a down payment, Emory and others would falsely list on the application that the borrower would provide cash at close or had down payment funds and on occasion would provide a false and fraudulent VOE purporting to be from the borrower’s bank.
Fisher was charged by information with one count of conspiracy to defraud and one count of engaging in monetary transactions in property derived from unlawful activity. Fisher was an attorney licensed to practice in Mississippi and engaged primarily in the business of closing real estate loans. According to information, beginning in September 1999, in Hinds County, Mississippi, Fisher and others worked closely with numerous mortgage brokers to obtain loans for borrowers through various lenders. They are alleged to have caused false and fictitious documents to be created to ensure that the mortgage loans would be granted and to have converted some of the proceeds for their own use and benefit. The false documents are alleged to have included false VODs, VORs and VOEs. Fisher and others were also alleged to have made false entries on loan applications consistent with the false documents. The information alleges that they obtained loans for approximately 48 borrowers totaling over $2.5M by creating false documents and making false entries on documents submitted to lender.
Pruett was charged by information with one count of conspiracy to defraud and one count of engaging in monetary transactions in property derived from unlawful activity. According to the information, beginning in February 2000, Pruett and others would find borrowers to purchase homes and would solicit mortgage brokers to obtain mortgage loans for the borrowers through various lenders. They are alleged to have caused false and fictitious documents to be created to ensure that the mortgage loans would be granted and to have converted some of the proceeds for their own use and benefit. The false documents are alleged to have included false VODs, VORs and VOEs. Pruett and others were also alleged to have made false entries on loan applications consistent with the false documents. The information alleges that Pruett and others succssfully obtained loans for approximately 17 borrowers totaling over $800,000 by creating false documents and making false entries on documents submitted to lender.
Floyd was charged by information with one count of failure to report mail fraud and wire fraud. According to media reports, Floyd was an employee of Fisher.
Goss was charged by information with engaging in a monetary transactions in criminally derived property of a value greater than $10,000. The information alleges that she issued a check for over $30,000 in funds derived from a specified unlawful activity. According to media sources, she operated a mortgage company with her ex-husband.
White was charged by information with engaging in a monetary transactions in criminally derived property of a value greater than $10,000. The information alleges that, in April 2001, he issued a check for over $30,000 in funds derived from a specified unlawful activity.
According to media sources, prosecutors said the defendants are cooperating and have agreed to waive formal indictment and plead guilty. Each faces a maximum penalty of 30 years in prison and a $1 million fine.
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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