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Posts Tagged ‘ fraud ’

Three found guilty of reverse mortgage fraud scheme

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Three found guilty of reverse mortgage fraud scheme

Three of four people indicted in a major mortgage fraud scheme that cost its victims, mortgage insurer and lenders millions of dollars are facing serious jail time. Two loan officers and a title agent responsible for a .5 million reverse mortgage fraud scheme were convicted in Federal court on Wednesday of one count of...
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Fort Myers attorney indicted in mortgage fraud scheme

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Fort Myers attorney indicted in mortgage fraud scheme

A suspended Florida attorney is facing three decades behind bars for lying on a mortgage application as part of a much larger .2 million scheme. The defendant, John Evans, was indicted this week on one charge of wire fraud and one count of failure to file an income tax return, according to records filed...
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Chicago tops for mortgage fraud infection: Interthinx

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Chicago tops for mortgage fraud infection: Interthinx

The entire Chicago metropolitan area is at a very high risk of mortgage fraud, as localized risk is spreading rapidly. Chicago zip code 60621 remains the riskiest area in the nation, according to a quarterly mortgage fraud report from Interthinx. This trend is driving the Chicago area up from a "moderate risk" zone to...
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Misc: Ernst & Young accused of fraud, Banks accused of illegal break-ins

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Misc: Ernst & Young accused of fraud, Banks accused of illegal break-ins

Two stories: Lehman’s accounting was fishy. The other is a real fish story … • From the NY Times DealBook: Cuomo Sues Ernst & Young Over Lehman The New York attorney general on Tuesday sued Ernst & Young, accusing the accounting firm of helping Lehman Brothers, its client, “engage in a massive accounting fraud”...
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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

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Congress Pushes for Judicial Action Against Fraud Used to Shift Loss onto GSEs

Letters from members of Congress released Friday urged President Obama and the Federal Housing Finance Administration (FHFA) to use aggressive administrative power to recover money from companies that used fraudulent and deceptive practices to shift losses on to Fannie Mae and Freddie Mac. Congressman Barney Frank (D-MA), Chairman of the House of Financial Services,...
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Interthinx: Mortgage Fraud Risk Index Decreases from Q110, Still Above Q209

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Interthinx: Mortgage Fraud Risk Index Decreases from Q110, Still Above Q209

Mortgage fraud risk decreased slightly in the second quarter of 2010, but is still substantially higher than it was a year ago, according to a quarterly Mortgage Fraud Risk Report released Tuesday by Interthinx. The risk research and analytics firm reported the National Mortgage Fraud Risk Index for Q210 at 145, down 3% from...
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Q&A: How does mortgage fraud affect the subprime mortgage crisis?

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Q&A: How does mortgage fraud affect the subprime mortgage crisis?

More on mortgage-backed securities Question by Iñigo: How does mortgage fraud affects the subprime mortgage crisis? In the actual Subprime mortgage crisis in the US huge amounts of mortgage frauds were discovered. What’s the part that these frauds played in the actual mortgage crisis ? Thanks. Best answer: Answer by kate Read . ....
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