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
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
Southern California Foreclosure Scheme Nets Additional Charges
A federal grand jury returned second superseding indictment adding seven new counts of money laundering against individuals who had already been charged in two previous indictments in connection with a foreclosure scheme, executed from approximately May 2003 through August 2005, that victimized more than 100 homeowners and allegedly caused losses of at least $12 million.
Previously, in November 2005, the grand jury originally charged Martha Rodriguez, 35, Downey, California and Edward Seung Ok, 40, Torrance, California with orchestrating a real estate fraud scheme that targeted commercial lenders and homeowners in southern California areas such as Artesia, Lakewood, Gardena, Wilmington, Carson, West Covina, La Puente, El Monte, Westminster, Downey, Van Nuys, and San Bernardino.
Then, in July 2006, the grand jury returned a First Superseding Indictment adding Cynthia Valenzuela, 23, Downey, California; Vladimir Stefanovic, 35, Lancaster, California; and Maria G. Juarez, 36, Reseda, California as defendants for their participation in the scheme. The superseding indictment added additional fraud counts and new identity theft charges.
According to the indictment, the defendants researched public filings and database lists of pending foreclosure sales to identify homeowners whose mortgage loans were in default. They made unsolicited contacts with such homeowners to pitch the scheme. The defendants explained that they could stop foreclosure on the delinquent mortgages by providing short-term loans to cover outstanding debts and then refinancing the mortgage loans with the co-signature guaranty by an “investor” with good credit standing.
Instead of obtaining refinancing, the defendants submitted loan applications in the names of “straw buyers” who were purportedly purchasing the property as a residence to occupy. In some cases, the straw buyers were paid for the use of their personal information on the loan applications. In others, the defendants used the information of individuals without their knowledge, making those individuals victims of identity theft. All of the loan applications contained false information about the straw buyers’ employment and income, which the financial institutions relied upon when funding the new loans.
Loan proceeds went to pay-off the loans in default with most of the remaining amounts being skimmed-off by the defendants. To disguise and conceal the amount of money that she was getting, Martha Rodriguez wrote at least seven checks to third party payees and then deposited those checks back into accounts under her own control or the control of a family member. Those checks form the basis of the new money laundering charges.
Rodriguez is charged in all counts of the indictment, including the seven new money laundering counts. Ok is charged with 16 counts of mail fraud and four counts of identity theft. Valenzuela is charged in all 19 fraud counts and all six identity theft counts. Juarez is charged with seven counts of mail fraud, and three counts of identity theft. Stefanovic is charged with eleven counts of mail fraud.
How about posting photographs of these individuals who get caugt? It wouldn’t surprise me if they have many different alias names.
Posted by on 01/04 at 07:09 AM
we have the same type of fraud scheme happening in a nearby Littlerock, Ca.93543 we have listed each and everyone of these people transacting with Fraud on the upswing. Rampant first payment notice of defaults, inflated home market values, then subsequently foreclosing.
Posted by on 01/17 at 11:54 AM
The massive fraud on the upswing we stumbled upon happened as a consequence of helping a mortgage fraud victim in Littlerock, Ca. A 59 year old African American widow living on a fixed retirement/disability income. She has been blatantly insulted by one of the biggest collaboration of industry insiders. This event just shows how the Billions in losses has now escalated into an unstoppable force. All we can do is watch as these people take as they choose…
Posted by on 01/20 at 11:44 AM
I would like to know the property addresses. Our company buys second mortgages in these area’s. Perhaps someone can tell me how to find the property information.
Posted by on 03/05 at 07:06 AM
update on littlerock, ca mortgage fraud:
avenue-s.us/flashfraudalert.html
Posted by on 09/24 at 07:29 PM
I am aware of other victoms of this case
Posted by on 10/17 at 11:03 AM
There are other victoms to this case
Posted by on 10/17 at 11:07 AM
I AM A VICTIM OF THE USv.MARTHA RODRIGUES/EDWARD OK SCAM. SCHEDULED FOR SENTENCING DEC. 10 2008 CENTRAL DISTRICT LA CASE NUMBER CR 05 1157-GHS
I HAVE TO BE OUT OF OUR HOME MON. 11-10-08 AS A RESULT OF WHAT TRANSPIRED. CAN YOU HELP ME SAVE MY HOME. MY SON AND I HAVE LIVED HERE FOR 16YR. HE WILL GRADUATE HIGH SCHOOL NEXT YEAR I DESPERATELY WOULD LIKE TO SAVE OUR HOME
BOUGHT IN 1992. STOLEN IN 2008
JOHNNEA HOLLAND
818 808 6123
johnneaholland@hotmail.com
Posted by on 11/06 at 12:17 PM
Attn: JOHNNEA HOLLAND
Please go to our website: www.avenue-s.us and www.avenue-s.info. we are a mortgage auditing co called avenue s mortgage auditing, ca. lic 2838913. we review your loan documents for fraud and predatory lending. if we find any, we report it to the following agencies: FBI, IRS-CID, Dept of corp, dept of real estate, FTC, DOJ, Bank and their regulator. They in turn have 20 days to respond to you and 60 to resolve any issues. If there has been no resolution we then refer you to our Atty. (20 years in the banking field).
There is only one way to intercept or eliminate your loss - seek accountability and report to All related Govt. and financial agencies.
our number are: (661)860-4978 (661)860-4950.
Posted by on 11/06 at 05:57 PM
daniel,
if you are aware of similar victims please have them give us a call.(661)860-4978 or (860)480-4950
we are a mortgage document auditing service. we look for fraud and predatory lending practices. for more info go to our websites: avenue-s.us and avenue-s.info
robert
Posted by on 11/06 at 06:01 PM
dear atty rachel dollar,
your presence is a blessing to all the mortgage fraud and predatory lending victims. awareness creating exposure is the key to stop this economic cancer.
our heartfelt gratitude,
robert tapia
Posted by on 11/06 at 06:06 PM
We need pictures of them because if they are out on bail we can make sure no ones else get caught in their scam again.... Vladimir Stefanovic and his brother stole my sister’s company in a scam.... Post their pictures.. they are not worthy of being hidden… Why is there not an up date on their court date of Dec. 10th? It is already Dec. 22nd.... Who bailed out Vladimir Stefanovic?
Posted by on 12/22 at 12:10 PM
Bought my house in 2007, $60,000 down, $500k 1st TD and $150k 2nd TD w/sunTrust Mtg. Kept payments current, about 6 months ago the 1st TD statments stopped. I called them & Sun Trust told me the ‘new’ bank wold contact me. No contact for 4 months, then CHASE bank wanted ALL back payments and fees, etc. I doubt the loan could survive the audit, no appraisal rec’d, stated income, ARM loan, inflated appraisal (FMV now $550k) THX.. Can you recc a good foreclosure attorney. Trust company filed and NOD 55 days ago. HELP...!!!
Posted by on 07/10 at 02:58 PM
New date is 2-17-10..I was notified and am also a victim..
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...
Legal Disclaimer.
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 
mortgage fraud
