imageRachel 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. Email Ms. Dollar

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June 5, 2009 - Miami Herald
Feds Get Tough on Mortgage Fraud

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Loan Fraud Seen on the Rise

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- Mortgage Fraud Scheme Leads to 83 Count Indictment
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Friday, November 14, 2008

U.S. Attorney Launches Mortgage Fraud Task Force

United States Attorney Catherine Hanaway announced the formation of the U.S. Attorney’s Mortgage Fraud Task Force.  The first meeting of the U.S. Attorney’s Task Force on Mortgage Fraud has already taken place at the U.S. Attorney’s office in St. Louis.

“Most of us have learned the hard way that the mortgage industry is a crucial part of our economy and that dishonesty and corruption have damaged the integrity of that industry,” said Hanaway.  “This task force is an attempt to build on the relationships that have already been established among law enforcement over the last several years, and to reach out to a broader group to make sure the prosecutorial response to the mortgage fraud crisis is as intense as the crisis itself.”

The U.S. Attorney’s Office in the Eastern District of Missouri has a long history of prosecuting mortgage fraud.  “We have a strong record of prosecuting these fraudsters to the full extent of the law,” said Hanaway.  “This Task Force should cast a broader net so that we can catch more of these criminals and put them behind bars.”

The Task Force aims are three-fold:

(1) to stop mortgage fraud before it starts by educating industry officials, the borrowing community and local law enforcement;

(2) to ensure ALL cases of fraud are brought to the attention of law enforcement and prosecutors and

(3) once cases are charged, to take care that the voice of the communities victimized by mortgage fraud are heard by the courts.

The Task Force is made up of a broadly based group of law enforcement, government regulators and real estate professionals.  In attendance at Wednesday’s meeting were representatives of the Federal Bureau of Investigation, Internal Revenue Service, U.S. Postal Inspection Service, U.S. Department of Housing and Urban Development, Missouri Department of Insurance-Financial Institutions and Professional Registration, Missouri Mortgage Bankers Association, Missouri Association of Mortgage Brokers, Missouri Bankers’ Association, St. Louis Association of Realtors, the City of St. Louis-Office of Development, the Washington Police Department, the Webster Groves Police Department, the Ferguson Police Department, the Hazelwood Police Department, the St. Louis County Police Department, the Missouri Sheriffs’ Association, the St. Louis Better Business Bureau and the United States Attorney’s Office.

Anyone wishing to join the Task Force or to report evidence of mortgage fraud should call Assistant United States Attorney Tom Albus at (314) 539-2200.

   

Posted by Staff Reporter on 11/14/08 at 01:07 AM
Mortgage Fraud • Total comments: (6) (0) Trackbacks
  1. It’s about time! it seems as if the Department of Justice is taking its time. Perhaps a Certified Forensic Financial expert would be helpful in sorting this out and not wasting taxpayer money prosecuting people under a theory of “knew or should have known” that is not supported by the totality of documents and actual direct in person conversations as evidence. Prosecuting the real fraudsters this way instead of using hearsay and circumstantial evidence is a more direct way to conviction and restitution for victims.

    Posted by  on  11/14  at  07:33 AM
  2. NOW we’re getting to the True Root of the financial crisis. You know, the one Congress and the press have been dodging.

    I’d love to be on that taskforce.

    Posted by  on  11/14  at  12:18 PM
  3. This is great, most of the agencies that I have reported to seemed to have been so overloaded.  The FBI has done a great job despite the tremendous volume.  The only problem is, our prisons are pretty full as it is.  There should be some kind of “tax” placed on these individuals for a lifetime.  A “Mark” on their credit report.  Then perhaps we can re-educate society that ethics do matter, as one of the tragedies of this crisis was the perpectual “everyone else is doing it” philosophy.  Everyone else may be doing it, but it is wrong.  We need to return to solid ethics in our financial system.

    Posted by  on  11/19  at  03:59 AM
  4. It’s about time, let’s hope Connecticut gets on the ball. There have been to many “bad apples” overlooked because the Consumer Protection Dept. is understaffed. I know it’s taken 3 years for an appraiser to be investigated and sanctioned. Just think of the problems caused along the way.

    Posted by  on  11/19  at  06:27 AM
  5. I’m with Stephen.....where do I submit my resume?

    Posted by  on  11/19  at  10:30 AM
  6. Thank You Godbless we have Mr Tom Albus now. We kew a guy and his partners.
    Mr Phong Dinh ,Tran www.rtbankcard.com
    who was an agent for HSBC credit card. He made connection with Bankers people and made up several Flase documents , hyer incomes, fogered people names, ..etc and cash money back each house and used third party people to cash money out for him. He trapped people in loans and he just was in deeds . some houses after bought Mr Tran forged again and made contrast to rent it and got more cash money to his pocket and nobody can do anything.
    Please help us to make investigation . Thank you so much Mr Tom Albus
    We got around 7 people victims. Real life will be more when you help the investigation please

    Posted by  on  11/19  at  07:07 PM

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mortgage fraud news



Today's News

Some Sources require Registration.

 

Erie Area Mortgage Broker Gets Prison in Fraud Case
GoErie.com - Erie, PA
Shortly before receiving a nearly three-year federal prison sentence, former mortgage office manager Francis R. Conti told the judge he never meant to defraud any of the homeowners caught up in a widespread local mortgage-fraud scheme.

Three Former Portland-Area Mortgage Brokers Face Fraud Charges
OregonLive.com - Portland, OR
Joel D. Surprenant, Michael Duc Han and Benjamin Lucian Lucescu all were charged with one count of obtaining mortgage loans through materially false and fraudulent pretenses.

Shaker Pair Pleads Guilty to Mortgage Fraud Charges
Cleveland.com - Cleveland, OH
Two Shaker Heights residents recently pleaded guilty to charges involving a mortgage scheme with seven area houses and $3 million in fraudulent loans.

Feds File Charges in Five Mortgage Fraud Cases
Chicago Breaking News - Tribune - Chicago, IL
Federal charges were filed today against 37 people and four companies in five separate mortgage fraud cases.

Feds Fighting Back
Contra Costa Times - Walnut Creek, CA
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, state and local agencies has been formed to fight back.

Private Investigator Sees Rise in Mortgage Fraud Due to Economy
PR Web - Ferndale, WA
In the past 12 months his firm has been retained to conduct over 300 mortgage fraud investigations, a 100% increase from 2007.

Former UGA, NFL Football Player Arthur Marshall Charged With Mortgage Fraud Claims
WJBF-TV - Augusta, GA
He is also accused of defrauding three banks in obtaining loans for seven different properties in Columbia and Richmond Counties.

Cuomo Subpoenas Loan Modification Companies
New York Times - United States
“The entire industry is a scam, in my opinion,” Mr. Cuomo said Tuesday. “These are services that homeowners don’t need to pay for in the first place.”

Defendant Pleads Guilty to Wire Fraud Relating to Mortgage Fraud Scheme
Imperial Valley News - Holtville, CA
Scavitti admitted that between 2003 and August 2008 he unlawfully diverted mortgage funds that were wire transferred into his client office account to his own personal benefit, resulting in losses in excess of $2.5 million.

Fed Drug Report: Double Trouble for Metro Chicago
ABC7Chicago.com - IL
...Chicago street gang members run a network of legitimate businesses and have engineered mortgage fraud schemes, both to launder drug proceeds...

Previous Articles

TRIAL COVERAGE

Trial coverage provided by Anne Mitchell, Crazy Fish Realty.

Update - US v. F. Jeffrey Miller, et al.

Miller II: Judge Julie Robinson has ruled in favor of the defense motion granting a continuance for sentencing of the 3 convicted defendants: F. Jeffrey Miller, Steve Vanatta and Hallie Irvin. The three will now be sentenced after ruling on post trial motions set for August 10, 2009.

Vanatta has been in custody for over 2 years.  Vanetta filed a motion for his release pending sentencing. That motion was denied.

Miller remains free pending his sentencing. He has hired a new attorney who filed a motion to delay Miller's sentencing. In one post trial motion, the defense argues as to what assets are subject to seizure.

Defendant Todd Earnshaw is a Kansas City real estate Broker (and brother in law of Miller). Earnshaw has been indicted in what is commonly referred to as Miller I. A trial date for that matter has been set for January, 2010 in Topeka, Kansas.

The Government filed a motion to revoke Earnshaw's bond and remand him to custody while he awaits trial after learning that he allegedly committed the state crimes of Driving Under the Influence, Handicap Parking Violation and Failure to Control Speed to Avoid a Collision while on pretrial release. Notwithstanding finding that probable cause existed to believe that Earnshaw committed the aforementioned state crimes, Judge Robinson denied the motion, but ordered several strict conditions that Earnshaw must follow pending his trial.



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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.

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