The U.S. Attorney’s Office for the Eastern District of Missouri announced the regional results of the nationwide takedown, Operation Stolen Dreams, which targeted mortgage fraudsters in the Eastern District of Missouri and throughout the country and is the largest collective enforcement effort ever brought to bear in confronting mortgage fraud.

The twelve mortgage fraud prosecutions in the Eastern District of Missouri between March 1, 2010, and June 17, 2010, as part of Operation

The Financial Crimes Enforcement Network (FinCEN) released its first analysis of suspicious activity reports (SARs) containing information about potential foreclosure rescue scams. The report, Loan Modification and Foreclosure Rescue Scams – Evolving Trends and Patterns in Bank Secrecy Act Reporting, involved an analysis of more than 3,500 SARs filed from 2004 through 2009, of which the great majority, 3,000, were filed last year. Additionally, FinCEN provided updated guidance to the

Nine criminal Complaints have been unsealed charging 28 individuals with participating in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved more than 17 New Jersey properties.

Rodrigo Molina, a licensed real estate agent; Domingo Fuentes, an investor who owned multiple companies he used to purchase real estate

14 individuals linked to mortgage fraud operations that filed fraudulent loan applications, collected millions of dollars in fees and commissions, and caused millions of dollars in losses when the homes went into foreclosure, have been indicted. Two indictments outline schemes in which real estate professionals prepared mortgage applications that contained false information about borrowers’ income, employment, assets, and intent to occupy the properties.

Continue Reading...