Virginia Attorney General Bob McDonnell joined a nationwide settlement agreement with Countrywide Financial Corporation. The settlement will provide about $8.4 billion in home loan and foreclosure relief to as many as 397,000 homeowners across the country, including projected relief of $212.8 million for more than 8,900 homeowners in Virginia. Countrywide was acquired by Continue Reading...
Archives For Mortgage Fraud
A bill requested by Attorney General Rob McKenna that would protect Washington consumers is scheduled for public hearings. The bill seeks to protect Washington residents from mortgage foreclosure scams.
Last year the Legislature passed a law that governs transactions between purchasers and homeowners whose homes are in foreclosure or in danger of foreclosure. The proposed bill, requested by the Attorney General’s Office, Department of Licensing and Department of Financial
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Samir Nel Cabrera, 31, Fort Meyers, Florida, a real estate agent, was indicted on charges that he devised a scheme to defraud, to obtain money, and to deprive persons and entities of the intangible right of honest services. According to media reports, Cabrera was found
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Nicole Lyder, 34, Dorchester, Massachusetts, pled guilty in Suffolk Superior Court to multiple charges in connection with her fraudulent activity in securing subprime mortgages for several unqualified home buyers.
Lyder pled guilty to charges of Forgery (6 counts), Larceny of Bank Credit by False Pretenses (5 counts), Uttering a False Document (6 counts), and Making or Publishing
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The State of Michigan has been appointed lead plaintiff in the national securities class action lawsuit against the Bear Stearns Companies and five current and former executives and directors for allegedly misleading pension funds and other investors by failing to appropriately mark down its huge portfolio of securities containing subprime mortgage-backed securities.
The lawsuit claims Bear
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LaDonna Mullins, 74, Denver, Colorado, was sentenced by U.S. District Court Judge Marcia S. Krieger to serve 3 years probation, during which the first 15 months are to be spent in home detention for wire fraud. Mullins was also ordered to forfeit $44,292 in a money judgment as well as pay restitution totaling $66,459.
LaDonna
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Ronald E. Brown, Jr., 39, Gladstone, Missouri, pleaded guilty before U.S. Chief District Judge Fernando J. Gaitan to to his role in a $12.6 million mortgage fraud scheme that involved 25 residential properties in Lee’s Summit and Raymore, Missouri. Brown was charge in an Oct. 29,
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