Rachel Dollar, a Certified Mortgage Banker and renowned attorney who represents lenders and secondary market investors in mortgage banking litigation matters, is the keynote speaker at the upcoming CoreLogic Winter 2012 Mortgage Fraud Consortium Members’ Meeting beginning January 23, 2012.
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Daniel Michie, 33, Marathon, Florida, had his name added to the deeds of two lots owned by his 68 year old mother without her permission. He then obtained a mortgage for $137,000 on the property, again without her permission.
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Robert Ilunga, 48, Naugatuck, Connecticut, waived his right to indictment and pleaded guilty today before United States Magistrate Judge Donna F. Martinez in Hartford to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.
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Raymond Foakes, 48, Rohnert Park, California, was sentenced to 70 months in prison and ordered to pay $1,085,000 in restitution for his role in a multi-million dollar mortgage fraud scheme.
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Kenneth McGavitt, 58, Washington, Pennsylvania, has been sentenced in federal court to 57 months in prison for his role in defrauding lenders by submitting forged lease agreements and loan documents as well as making false representations concerning collateral.
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Anthony F. Cutaia, 65, Boynton Beach, Florida, was sentenced yesterday in federal court. U.S. District Court Judge Daniel T.K. Hurley sentenced Cutaia to 51 months in prison, to be followed by 3 years of supervised release for his role in a real estate ponzi scheme.
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Mortgage and foreclosure related complaints have quadrupled over the past two years to become the number one reason consumers contacted the Massachusetts Attorney General’s Office for assistance in 2011.
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David Lam, 42, Parkland, Florida, a real estate agent, pled guilty before U.S. District Judge Kenneth A. Marra for his participation in mortgage fraud schemes relating to properties in the Versailles development in Wellington, Florida.
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Jorge Abbud, 33, Dover, N.J., a former employee of a Parsippany, N.J., mortgage lender admitted to taking $138,402 in illegitimate proceeds of multiple home sales as a result of a mortgage fraud scheme.
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Keith Davis, 39, Jacksonville, Florida, was sentenced by Chief U.S. District Judge Anne C. Conway to 2 years in federal prison for conspiracy to commit wire fraud for his role in fraudulently obtaining loans and receiving kickbacks after closing.
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