RECENT BLOG POSTS
This is one of the largest mortgage fraud cases ever prosecuted in our district, and illustrates that this is a problem that affects not only low-income neighborhoods, but also more affluent suburbs," U.S. Attorney for the Western District of Missouri John F. Wood said. "Mortgage fraud poses a si...
06/02/2010
Former Boca Raton Mortgage Managers plead guilty for falsifying loan documents It was alleged that Peter Hartofilis and Jason Vitulano were branch managers of the Top Dot Mortgage office in Boca Raton, Florida, and devised a scheme to submit fraudulent loan applications to numerous lenders. More ...
05/30/2010
One of the biggest problems has been in the current real estate market has been the time it takes for the lender to review the short sale package. Short sale offers have been hampered by cycle times that have easily lasted months and most time you will not get a retail buyer to wait, as they are ...
05/28/2010
The title insurance industry is part of the real estate industry sector caught in law enforcement investigation activity which appears to be a part of the epidemic of industry fraud that could have cost consumers millions -- if not billions. An escrow account holder is a neutral third party which...
05/26/2010
A Special Agent employed by the Federal Bureau of Investigation in Nashville, Tennessee, was indicted by a grand jury sitting in Nashville, Tennessee. The 19 count indictment charges McAllister in connection with the purchase of rental properties totaling $1.25 million. In addition, the indictmen...
05/25/2010
In these tough economic times, mortgage foreclosure rescue scams are sweeping the nation. Foreclosure rescue fraud is both underhanded and malicious. Homeowners that are finding it difficult to make ends meet and facing potential foreclosure are promised help in order to save their homes. When ag...
05/24/2010
Used 92 Year Olds Personal and Credit Information  A California, a real estate broker, was convicted of conspiring with her boyfriend and his brother to commit $17.5 million in real estate fraud by purchasing 35 properties using stolen identities and intentionally defaulting on loans in order to ...
05/23/2010
Mortgage fraud investigations by the FBI increased 400% in 2009, according to an Office of Thrift Supervision (OTS) report on fraud and insider abuse. The report states that, "Difficult economic times often lead to an increase in fraud and insider abuse. During the market downturns of the late 19...
05/21/2010
Fraud Schemes involved more than 400 victims and 20 fraudulently acquired properties The founder and head of Chicago Development and Planning was sentenced yesterday to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution She fled to Mexico when she learned ...
05/20/2010
17 New York Charged in Massive Mortgage Scam have been charged with defrauding legitimate homeowners and various lending institutions out of more than $3 million in equity that had been stripped from 26 refinanced residential properties valued at $13 million. Many of the loans subsequently went i...
05/20/2010
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Michael Richardson

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