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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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Philip Coon, EVP of Coast Bank of Florida, and John Miller, President of American Mortgage Link, were charged for their roles in a fee splitting scheme. As previously reported by Mortgage Fraud Blog, the scenario involved undisclosed, additional fees charged to Borrowers at closing. The fees were sometimes ultimately paid by Coast of Bank of Florida, the Borrowers and other, and were then split between Coon and MIller. During the pendency of the case, the Borrowers, who were not parties to the criminal case or mentioned in the charging document, sought to testify as victims recognized by the Crime Victims Rights Act ("CRVA") prior to the Judge’s consideration of Coon‘s guilty plea. The CRVA, among other things, gives victims of a crime the opportunity to be heard in the pending case in which they were a victim. The Judge denied the Borrowers’ request to testify concluding that they did not meet the requisite elements of a “victim” because the pending case dealt with losses to the bank, not the borrowers, and therefore, the Bank, not the Borrowers was the victim of the offense charged in the indictment.
The Borrowers petitioned the court for a writ of mandamus asking the appellate court to declare them “victims”. The appellate court utimately agreed with the Borrowers and granted their writ concluding that they were “victims” because they were responsible for paying closing costs in which the unlawful fees were hidden.
Our economy is not in a good condition that’s why people must learn how to spend wisely. With this situation people often ran for financial options for them to seek assistance on their financial problem. Financial option is good because it could really help us in times of emergency. While many in the nation strive to repair credit following the mortgage crisis, lower prices in the West are pushing home sales up. Seems to me like the market is beginning to correct itself. It’s good old-fashioned supply and demand. Home sales went up 13 percent in the West. In the same region, home prices dropped 26 percent. It reminds me of the economics class I took freshman year in college. Foreclosures and defaulted mortgages created a bigger supply of homes for sales. Then the prices just needed to drop to a point that met demand. Well, that happened in the West, but in the United States overall home sales are still down about 11 percent compared to last year. Looks like the East is a little slow to meet the demand curve. But I’m sure they’ll get there.
It’s a dam shame people don’t invest in their own country and pay overseeyers to make car parts and so on. If we want a good economy, we need to stop outsourcing to the lowest bidder.
Posted by on 08/16 at 03:53 AM
Hi all. Nothing is as certain as that the vices of leisure are gotten rid of by being busy.
I am from Solomon and also am speaking English, please tell me right I wrote the following sentence: “Some investments tend temporarily in assets or technical products, financial as indicative property and financial changes, 401k investments advice.”
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 
mortgage fraud
Ackerley.
