mortgage fraud

Mortgage fraud is a crime punishable by law where potential buyers of houses attempt to deceive lenders by providing incorrect information or blatantly omitting details which would cause banks to not lend them money. Mortgage fraud is a crime which has risen in numbers and notoriety in the first decade of the 21st Century, especially during the United States' financial crisis of 2008.

There are many types of mortgage fraud including: Occupancy fraud, Income fraud, Employment fraud, Failure to disclose liabilities, Fraud for profit, Appraisal fraud, Cash-Back Schemes, Shotgunning, and Identity Theft. These crimes could yield a person a fixed amount of jail time and fines, with some prison sentences approaching a 30-year maximum.

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Latest blogosphere posts tagged “mortgage fraud”

• Mortgage Lenders Bringing Criminal Prosecutions Against Homeowners …

  
  Mortgage online — Authority: 159
  Ashburn, Virginia – November 13, 2009 — Some mortgage lenders are springing a “loan modification trap” of criminal prosecution against homeowners who try to avoid foreclosure, says a mortgage expert firm, Mortgage Fraud Examiners. ...
  1 day ago

• Mortgage Lenders Bringing Criminal Prosecutions Against…

  
  Fisher Funding — Authority: 157
  Mortgage Fraud Examiners, the company that was warning the public about scam loan modification services months before the Obama Administration, is now warning of a new “criminal loan modification trap” which the government ‘doesn’t(?) want you to know. Continue reading here: Mortgage Lenders Bringing ...
  2 days ago

• Action Taken Against Crooked Lawyers for Various Scams

  
  Mortgage Fraud Blog — Authority: 135
  The State Bar of California has taken action against 5 more lawyers under investigation for loan modification misconduct, bringing to 14 the number of attorneys who have resigned or been placed on involuntary inactive enrollment since creation of the bars Loan Modification Task Force in April 2009. Timothy ...
  2 days ago

• Loan Officers Sentenced for Operating Mortgage Fraud Ring

  
  Mortgage Fraud Blog — Authority: 135
  Damon Clark , 32, Grand Rapids, Michigan and Reginald Tardy, Jr ., 31, Ferndale, Michigan, each pled guilty in late September 2009, of one count of Racketeering and were sentenced by Judge David Hoort in Montcalm County Circuit Court. Clark was sentenced to 15 months to 20 years in prison, Tardy was ...
  3 days ago

• Loan Application Misrepresentations Lead to Mortgage Fraud Charges

  
  Mortgage Fraud Blog — Authority: 135
  Jeffrey D. Stadelmann , 47, Menomonee Falls, Wisconsin, has been indicted on charges of wire fraud in connection with a fraud scheme he is alleged to have conducted between March 2002 and March 2008. If convicted of this charge, Stadelmann would face a maximum term of imprisonment of 20 years and a fine not to ...
  3 days ago

• pay off my mortgage to develop my land?

  
  Financial Planning — Authority: 435
  i want to pay off my mortgage and subdivide into lots to build houses onRelated ArticlesMortgage and Real Estate Fraud – Mortgage Fraud News – Two charged …U.S. Mortgage Rates for 30-Year Fixed Home Loans Decline for …Mortgage and Real Estate Fraud – Mortgage Fraud News – 6 charged …Mortgage Rates ...
  3 days ago

• Mortgage and Real Estate Fraud - Mortgage Fraud News - 6 charged …

  
  Mortgage online — Authority: 159
  Crandell was the leader of a sophisticated cash-back mortgage fraud scheme. In 2005, he obtained the rights to various parcels of real estate located in Queen Creek, Ariz., obscured his interest in those properties by placing them in ...
  3 days ago

• Repeat Offender Admits to Fraud & Racketeering

  
  Mortgage Fraud Blog — Authority: 135
  Katherine Vidaurri (aka Katherine Pulliam , Katherine Padilla ), 51, Albuquerque, New Mexico,  pleaded  guilty to Mortgage Fraud, Forgery and Racketeering charges.  Second Judicial District Court Judge Reed Sheppard accepted Vidaurris plea, which could result in up to three years jail time at initial ...
  4 days ago

• Enforcement Action Taken Against Dallas-Area ‘Mortgage Rescue’ Operation

  
  Mortgage Fraud Blog — Authority: 135
  Markus Bailey and Tyrone Bailey , Dallas, TX, are subject to a temporary injunction barring them from deceptively operating the unlicensed businesses, Behind on Mortgage and Behind on Mortgages USA at 6060 N. Central Expressway in Dallas . The agreement requires the defendants to either reimburse all ...
  4 days ago

• Broker Sentenced for 5 Year Mortgage Fraud Scam

  
  Mortgage Fraud Blog — Authority: 135
  Clarence Lewis III , 46, Houston, Texas, has been sentenced to 15 years in federal prison without parole for running a mortgage fraud scheme. United States District Judge Lynn N. Hughes handed down the prison sentence. As previously reported by Mortgage Fraud Blog, Lewis was convicted May 13, 2009, of ...
  5 days ago

• Woman Indicted For Using Mortgage Company to Defraud IRS

  
  Mortgage Fraud Blog — Authority: 135
  Shelley Lee Milless , 38, Chaska, Minnesota, pleaded guilty in federal court to preventing the Internal Revenue Service (IRS) from collecting more than $900,000 in employment taxes from her ex-husbands mortgage brokerage company. Milless pleaded guilty before United States District Court Judge Paul Magnusonto ...
  5 days ago

• California Man Sentenced for HELOC Fraud

  
  Mortgage Fraud Blog — Authority: 135
  Martin Quoc Pham , 28, Garden Grove, California, has been sentenced to 132 months in federal prison for orchestrating two identity theft schemes in which he obtained personal information from hundreds of consumers and used the data in an attempt to fraudulently obtain approximately $1.5 million from home equity ...
  5 days ago

• Bear Stearns Managers Found Not Guilty of Fraud

  
  Mortgage Fraud Blog — Authority: 135
  Ralph Cioffi and Matthew Tannin , both hedge fund managers at Bear Stearns , have been found not guilty after jury deliberations that lasted less than two days. The two men were acquitted of securities, wire and mail fraud according to media reports .  In June 2008, an indictment was unsealed in a ...
  5 days ago

• Man Sentenced for Stealing Identities From Mortgage Files

  
  Mortgage Fraud Blog — Authority: 135
  Visanio Eugene Vann , 47, Thousand Oaks, California, was sentenced by United States District Judge S. James Otero in Los Angeles to 95 months in federal prison for orchestrating an identity theft scheme in which he used personal identifying information taken from dozens of mortgage and credit files to fraudulently ...
  6 days ago

• 2 Arrested For Fraud Involving Investment and Loan Modification Scams

  
  Mortgage Fraud Blog — Authority: 135
  Alan Espiritu , 35, and Cesar Moreno , 40, were both arrested by Carlsbad Police at their California residences on November 3, 2009. The two men are believed to be responsible for a real estate investment fraud scheme dating back to as early as 2001. Espiritu and Moreno targeted non-English speaking ...
  6 days ago

• Fraudline:  Is Mortgage Fraud Addictive?

  
  Mortgage Fraud Blog — Authority: 135
  Stories referenced in this weeks edition of Fraudline: Kawana Melvin Faces Off with the Georgia Department of Banking and Finance (she doesnt win ...) Either Does Edward William Farley ....
  6 days ago

• Mortgage and Real Estate Fraud - Mortgage Fraud News - NC builder …

  
  Mortgage online — Authority: 159
  Court records show that on November 5, 2009 Gary Mark Wood pled guilty to an Information in relation to his involvement in a North Carolina mortgage fraud case. He was involved in the onging mortgage fraud investigations by the FBI in ...
  6 days ago

• Mortgage and Real Estate Fraud - Mortgage Fraud News - California …

  
  Mortgage online — Authority: 159
  The Mortgage Fraud Reporter brings readers the latest news on mortgage and real estate fraud.
  6 days ago

• Mortgage Fraud: Save The Homeowner Save The World Hd …

  
  Mortgage online — Authority: 159
  The best stimulus plan to save the US and global economy requires that the American people learn the truth.
  6 days ago

• Foreclosures crisis caused by investors. And lenders. And politicians. And buyers.

  
  LoanWorkout.org — Authority: 440
  But a St. Petersburg Times analysis of thousands of foreclosures in Hillsborough County, which has one of the highest default rates in Florida, shows individual homeowners are getting too much of the blame.The truth is that real estate speculators and revenue-hungry local governments bear just as much of the ...
  6 days ago

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