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mortgage fraud: Financial Fraud Enforcement Task Force Hosts Mortgage Fraud Summit in Miami - 02/24/10 08:02 PM
The task force, established by President Barack Obama in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes, is composed of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement. The first summit was held in Miami because of the high rate of mortgage fraud in the region.
The Miami-Fort Lauderdale-Pompano Beach metropolitan area is ranked first in the nation for the number of local subjects named in Suspicious Activity Reports (SARs) filed by depository institutions concerning suspected mortgage fraud, according to a recent … (3 comments)
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mortgage fraud: RALPH ROBERTS Fixing the System REAL ESTATE FRAUD 2010 - 02/04/10 11:24 AM
I posted this blog on ActiveRain in October of 2006. With Mortgage Fraud eroding today's real estate world like locust devouring a jungle, these words bear repeating today. Fixing the System (ActiveRain, October 2006) "Con artists will always find ways to exploit vulnerabilities in the system, but the system can fight back. My BLOG FLIPPINGFRENZY.COM reveals how everyone involved in real estate--from buyers and sellers to real estate professionals to law enforcement officers and regulators, all the way up to government officials--can work together to close the loopholes and make the system less vulnerable to fraud. By being honest and vigilant and … (1 comments)
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mortgage fraud: Finally. It is now a Crime to Commit Mortgage Fraud in California! - 01/20/10 02:08 PM
The foreclosure crisis in California gave rise to mortgage fraud and loan modification scams. Lawmakers responded with legislation to attack the problems.
"The last two years, we've seen more legislation in the mortgage and real estate arena than we have in the previous 10 years," said Department of Real Estate spokesman Tom Pool.
Gov. Arnold Schwarzenegger has signed a total of 724 new bills for 2009, including a number of bills which will offer consumer protection to both home and car buyers in 2010 and beyond.
Senate Bill 239 makes it a crime to commit mortgage fraud. Previously, … (0 comments)
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mortgage fraud: Low Risk - High Reward Factor Draws People into Mortgage Fraud - 12/29/09 01:03 PM
It’s hard to believe that a central collection bureau does not exist for the purpose of tracking all mortgage fraud complaints. Yet, there are multiple sources that claim to have data indicating that mortgage fraud is on the rise.
The Federal Bureau of Investigation is proactively working with the mortgage industry in an effort to curb mortgage fraud crimes. On March 8, 2007, the FBI signed a memorandum of agreement with the Mortgage Bankers Association (MBA) to promote the FBI’s Mortgage Fraud Warning Notice. The Notice states that it is illegal to make any false statement regarding income, assets, debt … (2 comments)
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mortgage fraud: Michigan’s Version of a Bernie Mardoff Ponzi Scheme - 12/16/09 07:31 PM
A magician’s greatest tool is the ability to convince his audiences that what they are looking at is something other than what’s in front of their eyes.
BBC Equities
This magical definition is what I’ll use to describe what happened to 440 investors of a Southfield company called BBC Equities. In July of this year, BBC Equities was shut down in July and its two principal officers, John Bravata and Richard Trabulsy, were charged with five counts of securities fraud by the U.S. Securities and Exchange Commission.
The SEC's complaint charges John Bravata, Trabulsy, and Bravata Financial … (3 comments)
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mortgage fraud: Avoid Scams and Report Discrimination - 12/15/09 12:40 PM
Mortgage FraudIn this column, I have recorded the cornucopia of fraud cases that sprout up in all areas of the country in an effort to demonstrate to you that there are literally thousands of unscrupulous people willing and wantonly ready to separate you from your hard-earned assets.Today, I thought that I would provide some direct education in place of warnings. Here’s a list of scenarios that should tip you off to a scam:· Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.· Scam artists often target homeowners who … (1 comments)
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mortgage fraud: Special CNN Report on Foreclosure - 02/25/09 05:42 AM
Ralph R. Roberts Featured in Special CNN Report on Foreclosure
Author of Foreclosure Self-Defense For Dummies Advises Struggling Homeowners
Detroit, MI - February 25, 2009-Ralph R. Roberts, consumer advocate and spokesperson for Federal Loan Modification Law Center, LLP, was featured on CNN Saturday during a live special report on the foreclosure crisis. The hour-long report, hosted by anchor Fredricka Whitfield and facilitated by CNN's Josh Levs, included a series of hard-hitting questions from struggling homeowners facing the prospect of losing their home in foreclosure.
Since losing his own home to foreclosure in the late 1970s, Roberts has made it … (2 comments)
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mortgage fraud: Happy Thanksgiving from Ralph Roberts @ Flipping Frenzy - 11/27/08 08:29 PM
Happy Thanksgiving from activerain member Flipping Frenzy
To everyone who takes the time to read our blog, wage battle against real estate and mortgage fraud, and who believes in the power of new media journalism and citizen participation... we offer the following thoughts on how to observe this Thanksgiving:
Count your blessings instead of your crossesCount your friendship and knowledge gains instead of your losses.
Count your joys instead of your woesCount your friends instead of your foes.
Count your smiles instead of your tearsCount your courage to fight on instead of your fears.
Count your full years instead of your leanCount … (2 comments)
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mortgage fraud: Mortgage Fraud: Unraveled by Ralph R. Roberts activerain member - 08/27/08 09:34 PM
Mortgage Fraud: Unraveled by Ralph R. Roberts Leading real estate and mortgage fraud forensic analyst was the first to report the facts to local and federal authorities DETROIT, Aug 27, 2008 /PRNewswire via activerain/ -- Ralph R. Roberts, a nationally known real estate and mortgage fraud forensic analyst and the co-author of "Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership" (Kaplan), is available to talk with the media about the recent mortgage fraud allegations involving Detroit Pistons' basketball player Lindsey Hunter. Roberts -- who is one of the world's foremost experts on spotting and preventing … (2 comments)
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mortgage fraud: Learn the Secrets to Success at RISMedia’s Leadership Conference - 08/26/08 10:32 PM
Building an Agent Team from the Ground up - Learn the Secrets to Success at RISMedia's Leadership Conference
Posted By Paige On August 26, 2008 @ 4:09 pm In Today's Top Story | Comments Disabled
RISMEDIA, August 27, 2008-There's been so much talk about agent teams recently. Are they good for the industry? Are they bad for the broker? Regardless of the answer, they're popping up everywhere-from small towns to giant metros. Big or small, these mini-powerhouses have changed the way practitioners work with their buyers and sellers.
Jacky Teplitzky, managing director, Prudential Douglas Elliman is one of three panelists … (0 comments)
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mortgage fraud: Real Estate @ Mortgage Fraud Statistics - 08/23/08 10:53 PM
Mortgage Fraud StatisticsAccording to the Federal Bureau of Investigation (FBI), which earlier this month issued yet another Mortgage Fraud Advisory, here are the latest Real Estate Fraud statistics:Estimated Annual Losses: $4 billion to $6 billionTotal Mortgage Fraud Suspicious Activity Reports in Fiscal Year 2007: 46,717, with $813 million in lossesTotal FBI Mortgage Fraud Task Forces/Working Groups (June 2008):42Pending FBI Mortgage Fraud Investigations (May 2008): 1,380Cases opened in Fiscal Year 2007:462 (compared to 295 in Fiscal Year 2003)Successes in Fiscal Year 2007: 321 indictments/informations; 260 convictions States with Significant Mortgage Fraud problems in 2008:Florida Nevada Michigan "my State"California Utah Georgia Virginia Illinois … (1 comments)
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mortgage fraud: Fredric “Rick” Dryer Found Guilty on 44 Counts in Colorado Real Estate Fraud Case - 07/17/08 09:47 PM
Fredric "Rick" Dryer Found Guilty on 44 Counts in Colorado Real Estate Fraud Case
Updated: 9:05 P.M. ET, July 17, 2008
According to reports out of Denver, Colorado, Fredric "Rick" Dryer has been found guilty on 44 out of 60 felony counts in a securities fraud case involving Dryer's former company, Mile High Capital Group, LLC. From Bob Mook at the well-respected Denver Business Journal:
Dryer- the self-described multimillionaire, real estate guru and founder of Mile High - was found guilty on counts of violations of the Colorado Organized Crime Control Act, conspiracy to commit securities fraud, securities fraud and theft. … (4 comments)
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