Mortgage Fraud Still Rampant – Forbes
If President Obama is serious about forming a new unit to prosecute financial and mortgage crimes, the first place he should look is at operators who are fleecing desperate homeowners. Scams that target these down-on-their-luck folks are rampant.
Go to Source
More Mortgage Stuff:
Freddie Mac has named Ross Kari as its new chief financial officer. Kari joins the government-controlled mortgage finance company from Fifth Third Bancorp, where he had been CFO. Freddie Mac has named Ross Kari as its new chief financial officer … Go to Source…
BusinessWire – Fitch Ratings has downgraded five classes of notes issued by Fort Point CDO I, Ltd.(Fort Point). These rating actions are the result of severe credit deterioration among 2004, 2005, and 2006 vintage residential mortgage-backed … Go to Source…
Bank of America’s (BAC) fourth-quarter earnings report showed the bank continuing to wrestle with mortgage-related headaches. First take, things look good. Bank of America’s mortgage banking unit earned $2.12 billion, versus an estimate of a … Go to Source…
HOUSTON (KTRK) — The U.S. Department of Justice has announced the results of the largest mortgage fraud crackdown in history. More than 1,000 people were arrested across the country for mortgage-related crimes and … Go to Source…
The Arizona Attorney General’s office will create a six-person mortgage fraud investigation and prosecution unit using a $1.7 million federal grant. Attorney General Terry Goddard says the unit will allow … Go to Source…
The alleged leader of a $47 million mortgage fraud scheme was sentenced Friday to a five-year term in federal prison. Viktor Kobzar, a 32-year-old Federal Way mortgage broker, and six others were arrested in March on allegations that they used their … Go to Source…
The alleged leader of a $47 million mortgage fraud scheme was sentenced Friday to a five-year term in federal prison. Viktor Kobzar, a 32-year-old Federal Way mortgage broker, and six others were arrested in March on allegations that they used their … Go to Source…
… simplify the paperwork consumers receive when taking out a home mortgage. Obama adviser Elizabeth Warren … possible, several consumer protections that are part of the sweeping overhaul of the financial system Go to Source…
The last two of six alleged co-conspirators denied Thursday at Suffolk County court their involvement in a nearly $6 million mortgage fraud scheme. Luis Lino, 46, of Hauppauge, and 38-year-old Martha Huezo of Mastic Beach, both pleaded not guilty and … Go to Source…
Recently, the Mortgage Banker’s Association released a report that echoed findings by the Mortgage Asset Research Institute describing three of the most recent mortgage fraud schemes rising in the ranks in terms of popularity. Know what these are and watch for them. 1. Foreclosure Prevention Schemes Foreclosure prevention schemes typically involve some sort of self-proclaimed foreclosure specialis…
Posted in Mortgage News