In an effort to restore credibility to the moribund residential mortgage securitization market, the American Securitization Forum is issuing new guidelines for new issues that put more risk on lenders and investment firms that package loans into securities.
Archives For November 30, 1999
Federal indictments handed down this month accusing former Bend-based developers of operating two real estate schemes document a history of alleged mortgage fraud that, if proven, could land the company’s executives in prison for decades.
Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration…
A Jamaican woman was sentenced Monday to nearly six years in prison and ordered to pay US$110,000 in restitution for her part in a multimillion-dollar mortgage fraud scheme dubbed ‘Operation Whose House’.
Ebhomielen and the other defendants participated in a scheme to obtain large mortgage loans from Flaherty Funding by submitting false information and documents to Flaherty Funding during the mortgage loan approval process.
The brother-in-law of Hassan Nemazee, a top political fundraiser for U.S. President Barack Obama and Secretary of State Hillary Clinton, was arrested on charges that he helped defraud Citigroup Inc. and HSBC Holdings Plc
A Jensen Beach pastor and his wife who were sentenced Tuesday for their roles in a multimillion-dollar mortgage fraud scheme face additional charges for allegedly continuing to engage in criminal activity while behind bars.
The scam artist offers to act as an intermediary between you and your lender to negotiate a repayment plan or loan modification and may even “guarantee” to save your home from foreclosure. In reality, the scammer may pocket your money and leave you in worse shape on your loan.
Last week agents…arrested three people involved in a refinancing scam, some of whom also were involved in a property reassessment scam that was sent out to property owners around Lake County and the rest of the state.
A Jensen Beach pastor and his wife who were sentenced Tuesday for their roles in a multimillion-dollar mortgage fraud scheme face additional charges for allegedly continuing to engage in criminal activity while behind bars.