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9 Comments on These Scam Artists were BUSTED!
Hi Kaushik,
What a scary thing this is. Is there no end to the outrageous scams? It seems like everyday, a new twist (to the old fraud ruse) crops up. Unbelievable.
Thank goodness they were caught this time. Hopefully the people whose lives they destroyed will be able to get some kind of restitution.
Wow!!! and Thank you very much for the Mortgage Fraud deed scam article you published.
The mortgage fraud epidemic that plagues the US has far reaching economic ramifications which are only now starting to materialize. This effect is felt more deeply in higher valued markets, such as the OC. I spent 15 years as a QC manager for a large, So Cal based, national lender out there before moving back home to So Fla, the other mortgage fraud capital of the US.
As mortgage industry insiders, we saw this stage being set years ago, with lenders and Wall Street investors alike seeing the writing on the wall but relishing in the proceeds of these loans. "Don't ask, don't tell" should no longer be unwritten policy at these companies, presumably responsible for not only great economic contributions, but who are responsible for financing peoples lives and dreams, or irresponsibly destroying them for a profit.
Cindi Dixon, Director
Mela Capital Group, LLC
Mortgage Fraud Investigations and Training
866-382-7566
PO Box 670035
Coral Springs, FL 33067-0035
Cindi@MortgageFraudQC.com
http://MortgageFraudQC.com
Please visit our DISCUSSION BOARD for the latest mortgage fraud news and to anonymously report mortgage fraud. http://MortgageFraudQC.com/blog/blog.html
Kaushik, even though these crooks are in the minority, they give those of us who are in the majority a bad name. But it is reassuring that even though they get away with this for a short time, that in the long run they get caught and get what they deserve.
good!
shame on 'em!
Cindi - My pleasure!
George - They are in the minority, but I can't help but think that we have more than our fair share in AZ! Too many folks cross the line, and there is another group altogether that straddle the line....
Dan - I hope they get what's coming to them!
Brian - Maybe instead of do not collect $200, pay many many dollars in restitution and fines!
Kaushik,
This type of stuff is just the "tip of the iceberg".