#1631 A buydown is not an option when the lender is considering a way to help a buyer qualify for a loan. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False The buydown will allo
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04/30/2012
Members of Bank Fraud Ring Sentenced in $3.7 Million Scam U.S. Attorney’s Office April 27, 2012 Northern District of Georgia (404) 581-6000 Bank Crime, Breaking News, Financial, Fraud, Press Release ATLANTA—After three days of hearings, United States District Judge William S. Duffey, Jr. today
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04/27/2012
Two Northern California Real Estate Investors Agree to Plead Guilty to Bid Rigging at Public Foreclosure Auctions Investigation Has Yielded 22 Plea Agreements to Date U.S. Department of Justice April 26, 2012 Office of Public Affairs (202) 514-2007/TDD (202) 514-1888 Financial, Fraud, Press Re
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04/26/2012
Real Estate Investor Convicted of Running Ponzi Scheme Joseph Angelo Sivigliano, 79, Oklahoma City, Oklahoma, was convicted by a federal jury of conspiracy, wire fraud, and money laundering in connection with a real estate investment Ponzi scheme. Evidence at trial showed that beginning in 2005
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04/26/2012
Foreclosure Rescuer Sued for Failing to Deliver Christopher Rojas, Irvine, California, is the subject of a civil lawsuit for running a foreclosure rescue operation that used multiple business names and failed to deliver on its promises to lower consumers' mortgage payments. The lawsuit charges Ro
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04/26/2012
Investor Sentenced for Cash Back Mortgage Scam Eitan Maximov, 40, a citizen of Israel and lawful permanent resident of the United States, was sentenced by U.S. District Judge David G. Campbell to nearly eight and half years in federal prison. A jury found Maximov guilty in November, following a s
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04/26/2012
Orchestrator of Straw Buyer Scam Sentenced Jorge Abbud, 33, Dover, New Jersey, a former employee of a Parsippany, New Jersey mortgage lender who admitted taking $138,402 in illegitimate proceeds of multiple home sales as a result of a mortgage fraud scheme, was sentenced to 21 months in prison. A
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04/26/2012
Alleged Loan Modification Scammer Arrested Stephen Vitalich, 46, has been arrested on charges of theft. The criminal complaint allleges Vitalich, doing business as Consumer Loan Excellence of America, LLC or NBMS of America, LLC, promised clients he would obtain mortgage loan modifications that w
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04/26/2012
Lawyer, Loan Office and Loan Processor Admit $9M Fraud Eric Finger, 47, Mineola, New York, a real estate attorney, Reginald Johnson, 38, St. Albans, New York, a mortgage loan officer, and Denise Parks, 46, Olive Branch, Mississippi, a mortgage loan processor, each pled guilty for their roles in a
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04/26/2012
Real Estate Investor Admits Foreclosure Bid Rigging Lawrence B. Stacy, Mobile, Alabama, a real estate investor, has agreed to plead guilty and to serve prison time for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in southern Alabama. To da
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04/26/2012
